ACQUIRE 10 PROPERTIES UNDER 3 YEARS
Acquire 10 Properties Under 3 years
A short-term rental investment can be an effective way to boost your income without sacrificing on growth, with many holiday rentals offering up to 30% more return than a classic investment property. With the added bonus of being able to use it for family holidays, combining their own breaks with designated holiday rentals.
Most people make the mistake of buying any property, in any suburb and only turning it into an Airbnb. The difference between a short-term rental and an Airbnb is up to 10-20% more ROI when doing a short-term rental vs just an Airbnb.
Buying a short-term rental in a saturated market could be the difference between performance or not. By using Short term rental data as well as property investment-driven data, you can make an educated decision on how to pick one market vs the next and one property vs another. Get a high-performing short-term rental without sacrificing on property growth.
Not every property can be turned into a successful Short term rental, not every council will approve a property for short-term rental use or may limit how many days a property is allowed on the market., Due diligence is very important when buying a holiday rental.
Finding a short-term rental is far more lucrative than buying a long-term investment. Not only do we have to look at the normal data points when finding a property as in short-term and long-term growth characteristics as well as the cost of living, but further carryout out more due diligence on the holiday destination and saturation of that market. What we look for when assessing a suburb:
1) What platforms are best for the area – this includes Trip advisor, Booking.com, Expedia, VRBO, Stayz, Airbnb, and website (direct bookings)
2) The occupancy rate – this is the number of nights booked divided by the total nights available to be booked across all relevant listings; nights blocked, nights booked, unbooked nights, and check-ins.
3) Local Competition – check hotels, motels, caravan and camping parks/sites, and make sure areas also aren’t oversaturated with other short-term rentals. Oversaturation means reduce ROI.
4) The pricing structure – Based on seasonality (peaks vs non-peak – holiday seasons or local events), weekends vs weekdays, minimum vs maximum rates, average base rate, discounting – close vs far out bookings, minimum nightly stay – close vs far out bookings
5) Location scarcity – comparisons between your competition to local amenities; entertainment, rivers, lakes, beaches, snow, parks and infrastructure (the more scarce your property location is to your competitors, the more desirable it becomes.
Most people make the mistake of buying any property and thinking all of a sudden they can turn it into an Airbnb or Short-term rental. Property selection in a holiday rental market could be the difference in a low vs high nightly rate, it could also be the difference between high or low occupancies impacting your ROI. It could also be the difference between a positive or negative guest experience. What we look for when choosing a property:
1) Property selection – what type of property style are you after? Single-storey, double storey, split level, New Hampton, farmhouse, beach or coastal vibe, unit or townhouse, modern, rustic, country, lake vs coastal, how many bedrooms, bathrooms, car spaces like garages and street parking,
2) What type of guest appeals – holidaymakers, corporate or business, family, extended family, kids or no kids, couples, groups, tourists, backpackers,
3) Interior design – when it comes to short-term rental you don’t have to be boring. Sometimes different is better and you could always make the property a certain theme e.g. supernatural/Disney, or stick to the more traditional themes; contemporary, coastal/beach, rustic, Scandinavian, Japandi, Bohemian or electric, modern, industrial. To what extent are you going to do decorations?
4) Emotional appeal – the one investment property that you can emotionally buy and use as a holiday house when it’s not booked out. Who would anyone else want to have a holiday in your property if you wouldn’t want to either? What, where and why can be taken into consideration when looking for a short-term rental.
Our service is ideal for anyone wanting to get into the short-term rental market.
Short-term rentals tend to suit anyone looking for high returns than a long-term investment, as well as those wanting a holiday home to use when and where they choose.
Some clients regard it as a lifestyle choice and financial investment combined. You can choose a house in your favoured location, then select the times you want to occupy it, and those available for bookings.
As a licenced real estate agent and buyers’ agent of long standing, our services are popular with a wide range of individuals, couples and business people.
Whether you are feeling stuck, time-poor, overwhelmed and stressed out, keep missing out, don’t want to overpay, don’t know where to buy or keep missing out on opportunities. We can cater for your needs.
Our client’s success is the most important consideration we have when you work with Wealth Through Property. We offer an end-to-end service with support and guidance along the way. You don’t need to do this journey alone when you can have a professional in your court.
What do want to achieve with your short term rental? We spend time identifying your goals.
Once we know where you’re heading, we create the right strategy to get you there.
I guide you through the entire process, supporting you to make optimum decisions.
We draw on specific data relating to short term rentals, giving you vital market insights.
I help you identify and secure property in perfect alignment with your strategy.
We undertake the necessary due diligence, so variables are accounted for.
I’m here for you in the long term, offering the level of ongoing support you need.
Access the right hosts, suppliers and interior designers to make the process easier.
Ready to reinvest? With care, diligence and the right knowledge, you can succeed.
Use the calculator to ensure you are making the best investment decision buying your next property. This will help you calculate which property will yield the best ROI and help you to avoid making emotional decisions that can cost you thousands.
Oliver Lonergan2023-10-06Scotts an absolute legend, he has guided me through the property journey. He has helped me navigate and set up great structures and I would recommend him to anyoneScott Herbert2023-09-27Working with Scott has shown me new ways on how to create and grow a property portfolio instead of just buying an investment property. Scott not only has the knowledge and experience but also spends the time to teach you ways to better setup and build a property portfolio. Not only have I received value for money in my latest purchase but also in the training and knowledge that I have gained while working with Wealth Through Property. I will be continuing to work with them for future property purchases.David Farrell2023-09-26Michael A2023-07-28We have been working with Scott for a few months now and have been more than impressed with his knowledge and ability. We have been able to establish professional connections ie solicitors, brokers, etc through Scott which has everyone working towards the same goal. We have definitely received value for money with our most recent purchase and look forward to us moving forward with wealth through property in the future.Jessica Wills2023-07-27Scott has been awesome throughout my journey. We bought our first investment property with Scott’s help and professional guidance. Would recommend him to any new buyers looking to kick start their investment portfolio.Mark2023-07-26Scott’s demonstrated ability to locate investment grade properties using data , information as well as a comprehensive analysis of properties both off and on market is what sets him apart from other buyers agents. For those at any stage of their investment journey, Scott is able to review and assess your current properties/portfolio and determine a strategy to be implemented aligned with your property goals and objectives. It’s made the process of scaling my portfolio incredibly easier than if I was doing this alone and trying to select the right properties myself, relying on information I thought was the key to great asset selection. He is able to invest the time I required to be able to explain his selections and quantify this with real time figures. Almost a year on from my initial acquisition by Scott, my rent has increased by approximately 80% and capital growth of approximately $140,000. This is just one property in the portfolio. I have no hesitation in recommending Scott.Patrick Kokavec2023-06-24As a specialist broker who focusses on assisting people build property investment portfolios, I can say that Scotts data driven approach to property selection has improved the average ROI for my clients that have purchased through him across the board. This, together with the access to a team of professionals who are all working together to achieve the best possible outcome is what sets Scott apart from the rest. Highly recommendedMONICA ROUVELLAS2023-05-19
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