The STR Backup Plan. MTR? LTR?

Bill Faeth and Kenny Bedwell tackle the mindset necessary for success in the short-term rental (STR) market, strongly opposing the idea of having a backup plan like midterm or long-term rentals (MTR or LTR). They share insights from their vast experiences, emphasizing going all-in on STRs, even in the face of increasing regulation, market saturation, and rising interest rates. The discussion highlights the differences between STR, MTR, and LTR investments, underlining that properties suitable for short-term rentals typically do not align well with other rental strategies due to location and cost issues. They caution against diluting focus by managing multiple types of rental businesses and share personal anecdotes to illustrate their points. Additionally, the episode features a promotion for Market My STR, a comprehensive marketing platform designed to streamline marketing efforts for short-term rental hosts. The podcast underscores the necessity of total commitment and adequate preparation for potential challenges in the STR market. This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. 00:00 Introduction to STRonomics and Market My STR 01:26 Diving Deep: The Backup Plan Debate for STR Investors 03:34 The Risks and Realities of Midterm and Longterm Rentals 11:14 Why Going All-In on STRs is Essential for Success 15:56 The Future of MTRs and the Importance of Commitment 20:07 Closing Thoughts and Call to Action 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