Building vs Buying STR's

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. Join Bill and Kenny as they dive into the exciting topic of building new properties versus buying short-term rentals. In this engaging conversation, they explore the dynamics of property development, discussing whether building a property is a feasible option, especially in today's challenging lending environment. They emphasize the importance of crunching the numbers and seeking professional guidance, drawing on their extensive expertise in creating Super Properties. Bill and Kenny also shed light on the strategy of venturing beyond crowded primary markets, encouraging listeners to explore promising opportunities in secondary markets. Discover how to craft a property that stands out, with tailored features and amenities that enhance the guest experience. Kenny shares insights on promising locations across the United States for land acquisition and new construction. Meanwhile, Bill recounts his memorable experience staying in a property that became the focal point of the latest Mastermind Meeting. Learn how to create the perfect property that becomes THE destination in its own right. [00:03] Intro to STRonomics [00:47] Building vs Buying STRs [04:23] The Small Things [05:30] New Construction [06:50] Deals [09:00] Maintenance Costs [11:20] Chasing Markets [15:00] Where To Build [20:24] Becoming The Destination [21:30] Wrapping Up We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices