Feb 28, 2023
Short Term Rentals: Glamping Case Study & Market Selection Rules with Meredith Garrett
Meredith Garrett shares a unique business venture. She is involved in setting up glamping domes on a 20-acre property for short-term stays. She discusses the different rates depending on the season and demand and how cleaning fees range from 75-99 dollars. In addition to discussing the steps taken to build a successful short-term rental business in Nashville and Palm Springs, she emphasizes the importance of researching local regulations, understanding seasonality, and looking for an area of potential appreciation for an investor. Tune in now to learn more about how you can benefit from self-managing your properties and investing in real estate!
[00:02 - 06:40] Discover the Benefits of Glamping
* Glamping combines an outdoor cabin space and camping with amenities such as running water, dishwashers, full refrigerators, microwaves, heat and air, comfy mattresses, etc.
* Typical glamping stays are two to three nights, and the rental rate fluctuates depending on the
[06:41 - 14:33] Investing in the Glamping Business: A Cash Flow Business Model with High Margins and Big Barrier of Entry
* Glamping operates similarly to a short-term rental, with cleaning fees between $75 and $99
* Rates range from $100-$450/night, depending on the season
* During winter months, temperatures can drop as low as 5 degrees, and snow is common
* The property is 20 acres and includes eight domes, a lodge, jacuzzis, and a water filtration system
* The goal is to provide a nature experience for families who don't usually go camping
* The business model is cash-flow focused and not necessarily designed for an exit strategy
[14:34 - 23:53] Investing in Short-Term Rentals: How to Find the Right Market and Maximize Profits
* Moved to Nashville in 2018 and heard about the margin potential in short-term rentals
* Found a superb property and started building/buying more short-term rentals
* Nashville regulations changed, requiring properties to be on commercial property
* The need to look at rules, seasonality, and appreciation potential when looking for a new market
[23:54 - 27:59] Closing Segment
* Best investing: a building in downtown Nashville
* A condominium in LA
* Connect with Meredith through the links below
Connect with Meredith through TikTok, or visit glamp.stayminty.com.
Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/
Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your terms.
Join our Passive Investor Club to access passive commercial real estate investment opportunities.
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"I don't wanna wait for the payday, and the margins in this game, in this new asset class, are very, very good." - Meredith Garrett
"I also personally like to go into markets where I feel like you're also gonna catch some appreciation of some undervalued markets." - Meredith Garrett