hey youtube what's happening it's richard founder of short-term rental university
and professional real estate developer and i'm standing here in our brand new studio which is
literally a vault in what used to be a bank and is now our youtube studio so we're going to be
filming more and more and i'm really excited and this one is for you if you're just getting
started or you're thinking about expanding your business and the question that i receive time and
time again is is it too late to get started now and let's put a little slash there or is it too
late to expand my short-term rental business well let's get right into it what i'd love to do is
share with you my thoughts and then the reasoning and the rationale behind it backed up by data
and facts so that you make an educated decision because after all taking some of your hard-earned
income and making an investment into a short-term rental property is exactly that one an investment
and two time consuming so if like the best is behind us then maybe you should contemplate other
uh potential investments or other opportunities the good news is i don't think we're anywhere near
that in fact i think the best is yet to come now that's my personal belief and that's my optimism
that's why i live my life where everything is going to improve and we can always do better
than we're doing today but i have some data and some facts that i want to share with you that are
quite credible quite legitimate and hopefully will give you some peace and comfort so here's
what i would say uh you know this airbnb concept this short-term rental concept it's been around
for a couple of decades in fact vrbo or verbo today used to be called vacation rentals by owner
and so the concept of like renting a short-term rental of somebody's vacation home has been around
for a long time but it was really only about 10 to 12 years ago that airbnb and brian chesky and
his crew over there sort of reimagined the space and created a better user interface and a better
app and a better way to connect more people on their platform and make it ubiquitous now
10 years or 12 years into a totally disruptive technology and a totally disruptive platform
is nothing if you think about the internet 10 years old where you think about crypto
10 years old we're really in the very early stages and so the concept of this
remote working living like a local nomadic no like homes no strings attached
people working you know from anywhere in the world and dialing in via zoom and so on this has just
really been accelerated by covid but it's only been here for about a year so what does the next
10 years or 20 years look like well i anticipate that people will be moving more towards short-term
rental stays for potentially even more longer term stays i'll call those midterm stays 30 days
or longer and or decide like i do i live in three different locations depending on the season i'm in
jackson hole for ski season i'm in the outer banks of north carolina for summer i'm in nosara costa
rica for the spring and fall and so more and more people are going to be traveling because of the
advent of short-term rentals like airbnb and verbo to follow the seasons to follow the sports to
follow their interest to follow their athletic dreams and the workplace is adapting to that
being kind of forced to allow it otherwise they lose great talent so from my own you
know theoretical perspective i think we're in the very early stages of a new way for people
to live a new way for people to travel a new way for people to experience locations and maybe just
travel the world for five ten years borrowing if you will other people's fantastic homes and so
i think it's very early days but enough about me let's go right to the data source airbnb ceo brian
chesky says that the company will need millions of more hosts to deal with a post-pandemic travel
boom unlike anything we've ever seen now i've been calling for this same sort of rebound and
the slowdown as a result of covet i said would would cause massive roaring 20s type like demand
and we're witnessing that right now here we are in june of 2021 and if you're not sold out you're
doing something wrong your prices are too high your prices uh your your feedback your reviews
there's something that's not you know enabling you to take advantage of this it could just be you're
in the wrong location right like dense urban areas aren't really popular uh right now they will be at
some point but today it's more rural vacation mountain lake beach places where people can go
and get away from their reality and there's still more demand than we possibly see and so while this
post covered rebound that we've anticipating is here now front and center that's not enough to go
make a long-term investment in a short-term rental property realize when you buy a property like this
it's a long horizon investment strategy you need a long runway measured in like you know a mortgage
is 30 years so you can't worry about what the next 30 days or the next 30 minutes what we need
to think about is what happens over the course of the next 30 years so here are some of the facts
that i take a look at beyond the immediate term right now chesky says that there's 4 million hosts
online with about 5.6 million listings which means the average host has more than one it's like 1.3
1.4 and it's mostly unchanged due to the pandemic so we have yet to see more hosts coming online
as a result of the pandemic and the uptick in demand but that's probably going to happen
we'll probably see that in future earnings reports we'll start to see that so there
we're listening to the person who potentially has the most visibility on long-term demand
long-term trends long-term opportunities and he's banging the drums asking for more hosts so
if you're looking to get started it is not too late right it's not as easy as it was five ten
years ago but it's certainly not too late and so i would encourage you to find a location
that's connected to your y that you love as a vacation home that will do well in a long-term
rental situation if the short-term rental doesn't work for you and hopefully you can buy it at the
bright price and furnish it and decorate it watch the rest of the videos on this channel to help you
get started and in fact if you have yet to start click in the description above a link that will
allow you and i to work together on your listing and make sure that you're ready for prime time
and an interest of full disclosure i'm an airbnb ambassador and i get a payment if you click on
my link and so i would greatly appreciate that it supports the channel and this youtube studio and
everything else we do here so if this is helpful to you please help me out i greatly appreciate it
and if you're looking to get you know more than one and you want to join the ranks of
the people that brian chesky was just talking about with 1.4 listings or many people in our
facebook group that have 2 5 10 20 50 100 because it's that good and that attractive and it's still
the most attractive risk adjusted return in real estate investing in my humble opinion
than the time to scale and consider doing more sooner rather than later so please let me know in
your comments below do you think brian chesky is right do they need millions or more hosts do they
need millions or more listings are you taking action and adding more of those listings like
the video and subscribe to the channel friends and remember the best is yet to come thank you
you