337. Broken Motel Dreams: Behind the Scenes of a Failed Real Estate Deal

Episode • Feb 29, 2024 • 1h 5m

Today’s export guest is Tanya Rooney, a creative real estate seeker, life guide and owner of BAFS Real Estate + Yay You’re Here Properties. We’re thrilled that she’s taken the time to join us today to talk about a very important, and very on-trend, topic in our industry: motels and mid-term rentals.

She gives us the low down on a painstaking deal that did NOT go through, sharing important lessons so you can better understand and take action on your own real estate opportunities in the future. We’re talking underwriting, we’re talking numbers, we’re talking inspections – all the juicy behind-the-scenes nuance that you won’t see on TikTok or in YouTube comment sections.

Tanya joined our membership years ago and has always been a champion of masterminds, really leveraging the power of networking. She’s a great resource for other hosts and a perfect example of how, even when things don’t go exactly as planned, they can be of benefit to our end goals.

(00:01:26) #STRShareSunday: @elylogcabin

(00:05:42) BTS of Tanya Rooney’s Short-Term Rental Business

(00:12:34) Setting Up an Exciting New Real Estate Deal

(00:24:36) Inspecting a Potential Motel Acquisition

(00:26:58) Leveraging Her Network to Underwrite the Deal

(00:35:29) Interior Design on a New STR Space

(00:37:53) When (and How) a Motel Deal Breaks Down

(00:44:37) Important Lessons & Tough Takeaways

(00:50:28) Making the Magic Happen Through Networking

Resources:

• Visit thanksforvisiting.com/workshop to watch our Hosting Business Mastery Method workshop!

• Airbnb Essentials Checklist: hostchecklist.com