Bolstering Your Income Streams with Karan Narang

Karan Narang is the founder of Adventure Awaits Vacation Rentals, a company that he operates alongside his wife in Dallas. They have a passion for traveling around the world which has greatly impacted their desire to create comfortable short-term rentals for travelers everywhere. In addition, Karan also operates within the relocation housing world, offering medium-term housing to temporary residents through insurance companies as well as longer-term rentals.

 

Avery speaks with Karan about how he got started in the industry, and how his desire to shelter his income in a diverse range of assets made him interested in the rental market. They additionally speak about the specifics of providing relocation housing and how it allows for additional profit through small income streams. Karan speaks candidly about how small charges for things like pet fees and cleaning fees can help lead to maximum profit. In addition, they speak about the specific areas in which Karan operates - their strengths and their weaknesses.

 

Key topics

• How Karan got started
• Importance of diversifying your rentals
• Benefits of charging small fees
• How relocation housing works 
• How to qualify as a real estate professional
• How to expand your STR
• Specifics of the Broken Bow market
• Tips for financing your rentals
• Suggestions for pivoting your rentals

 

• Who Not How 
• Adventure Awaits 
• Short Term Rental, Long Term Wealth
• The Short Term Shop University
• The Short Term Shop Facebook Group
• IGMS
• Your Porter
• Smart BnB
• OwnerRez
• Beyond Pricing
• Pricelabs