Short-Term Rental Market

If you are interested in turning your investment property into a successful short-term vacation rental, then this episode is for you. Today we hear from J-Ryan Steward & Jarrod Higginbotham of Teal Door Hosting about about the short-term rental market as well as how they can work with you using their full scale management service. Note that this episode is a recording of a recent Meetup attended by our podcast host, Eric Odum.

Short term rental is a relatively new market segment within the last 10 years or so. During this current market saturation reset, J-Ryan and Jarrod expect the next 2-3 years to have really good high profits for short-term rentals.

Key Discussion Points

[00:59] Opening remarks by Eric Odum

[03:52] About our guests: J-Ryan Stewart & Jared Higginbotham

[04:57] Tell us about your Full Scale Managmement service to turn investement properties into successful short terms rentals

[08:05] Discussion about Good and Bad Business Models for short term rentals

[14:54] Do you help with the marketing when managing a property?

[25:37] What things about vacation rentals that are chaning that keep you up at night?

[30:00] What property characteristics make better investments for short term rentals?

[31:46] What about Association or neighbor objections?

[38:40] Discussion about current short-term rental rates during COVID-19

[53:27] Do you do paid consultations outside your management area?

[57:55] Concluding comments

About our Guest

J-Ryan Steward is the co-founder and Jarod Higginbotham is the CEO of Teal Door Hosting. What started as two guys swapping investment strategies, turned into an idea that would help most active duty military members make a little extra cash when deployed.

After transitioning from Soldier/Sailor to civilian, we’ve made our service available to the public. Let us show you how we’ve been successful at real estate investing for the last two decades. Our values reflect those of most veterans: Service to others above ourselves Be a part of something bigger than ourselves. Always do your best. Never quit until the job is done.

For us at Teal Door Hosting, a love of wild and beautiful places demands participation in the fight to save them, and to help reverse the steep decline in the overall environmental health of our planet. We pride ourselves in taking every opportunity to serve humanity by staying green. Each of our featured properties is 100% powered by sustainable energy sources and utilizes the latest in power saving technology. Staying true to our core values has helped us create a company we’re proud to run and work for. And our focus on service has brought us success in the marketplace.

CONTACT INFO

Website: https://www.tealdoorhosting.com/
Facebook: @TealDoorHosting
Jared Higginbotham email: jared@tealdoorhosting.com

Current Florida Market Overview & Forecast

Today we talk with Derek Waltchack, partner at Shannon Waltchack, about his personal perspective on the retail market. While many investors steer clear of retail, especially when retail assets like malls are not doing so well, Derek embraces it and is doing quite well.

Our co-host, Eric Odum, is also bullish on retail, and said as long as we are driving cars, there is always going to be a need for people buying product or delivering service. So despite what you may hear, retail is a very stable asset class, especially when it comes to strip centers in good neighborhoods.

A little known but interesting fact about Derek is that he is also a part time truffle farmer and has the only truffle farm in Alabama. Very cool!

Key Discussion Points

[00:58] Opening remarks by Eric Odum and Steven Silverman

[04:51] About our guest: Derek Waltchack

[067:12] So you are also a part time truffle farmer in Alabama – tell us about that

[11:21] Tell us about the podcast you just started called “Brokerlord”

[14:13] How is your brokerage business doing right now, and how are you dealing with your tenants and assets?

[19:18] Discussion about why some people think retail is “terrible” when in reality it’s doing well

[21:35] How have you dealt with your tenants during this time of COVID?

[26:42] Are you seeing signs of distress with tenants not being able to pay their mortgages?

[32:17] Looking forward, do you have any special concerns about the market?

[35:44] Discussion about the office asset class

[42:54] What are you doing from an aqcuisition standpoint?

[44:50] Where are you getting your debt from?

[45:57] Are you seeing prices go from the 7 cap to the 8 cap?

[46:53] How are you aqcuiring investors for your fund?

[48:42] How can folks get in touch with you?

[49:37] Closing comments by Eric & Steven

About our Guest

Derek Waltchack is a partner at Shannon Waltchack based in Birmingham, Alabama. Derek has extensive experience in commercial real estate. In Birmingham, he spearheaded a $4.5 million renovation that transformed a 100 year old warehouse into a cutting edge business center known as railroad square. He also did the first crowd source development in Birmingham, and that development is known as the Stockyard Birmingham.

Derek is also a subject matter expert on bitcoin, blockchain, and how those technologies are impacting the economy, specifically in general and commercial real estate. And, he is also a part time farmer: he has a chestnut farm, he keeps bees, grows pumpkins, and has Alabama’s only truffle orchard.

CONTACT INFO

Email: dw@shanwalt.com

Podcast Website: https://www.brokerlord.com/