Real Estate Runway
Real Estate Runway
Nov 30, 2022
083: Selling the Experience: Investing In Short-Term Rentals with Shawn Moore
Play • 38 min

Shawn Moore, Founder, and CEO of Vodyssey, shares how he helps people build a lifestyle and financial freedom through investing in vacation homes. Sean shares his story of how he got into real estate investing, specifically short-term rentals. He emphasizes the importance of identifying the right asset and location for the venture, as well as the need to understand how to market and deliver a unique experience to guests. He also emphasizes the need to have a good cash flow perspective to make sound investment decisions.

 

What started from reading real estate books at the public library and cashing his first wholesale check right out of college Shawn began a 22-year journey of full-time real estate investing. In his 22 years in the industry, Shawn has flipped homes, built a portfolio of long-term rentals, done land development deals, sold high-end luxury resort properties, and now leads, Vodyssey, the #1 short-term rental education company and mastermind group in the world. 

Learn more about ALTERNATIVE BUSINESS and INVESTMENT STRATEGIES through QUATTRO CAPITAL!

[00:01 - 06:57] Opening Segment

  • Introducing Shawn to the show
  • Brief background and career
  •  The importance of educating people about short-term rentals so that they can make informed decisions about investing in this sector
  • The challenges that people face when investing in short-term rentals, and how to overcome them

 

[06:58 - 15:32] 3-Pillars to Understanding Short-Term Rentals

  • Understand how to buy the right asset
  • Identify locations and property types that work for this particular type of rental
  • Analyze data in the area to see if it is an investable market
  • Management fees, resort fees, taxes, nightly rates, hospitality taxes, cleaning fees, and other variable expenses can be very different from those in traditional long-term rentals

 

[15:32 - 29:29] Physical Asset Attributes

  • Property types that are good for hosting multi-generational families or those looking for privacy will often do better than those that are not.
  • The product is not the property, but the experience that is provided to guests
  • A unique and enjoyable experience is key to success in the short-term rental market.
  • Management is the Achilles heel of short-term rental investing, and should be handled by a professional rather than doing it oneself
  • Hiring a good management company is one of the best ways to make sure that your short-term rental is successful

 

[29:30 - 37:53] The Quattro Trio

  • What is your superpower?
    • Being able to look at things from a different lens
  • What is your biggest failure?
    • Inconsistency in building a portfolio
  • Shawn’s books and podcast
    • See the links below
  • Philanthropic venture
  • See the links below to connect with Shawn
  • Final words

Quotes:

 

“If you only own one property, you don’t have economies to scale.” - Shawn Moore

 

“You should not manage properties to save yourself money.” - Shawn Moore

 

“We’re selling the experience, not the property.” - Shawn Moore

Connect with Shawn through LinkedIn, or visit www.Vodyssey.com

 

LEAVE A 5-STAR REVIEW + help someone who wants to explode their business growth by sharing this episode. Find out how team Quattro can help you by visiting www.TheQuattroWay.com.

Real Estate Runway Podcast is all about alternative business and investment strategies to help you amplify life, and maximize wealth! Click here to find out more about the host, Chad Sutton.

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