Turning One Property into an Entire Portfolio by Doubling Down on This Niche
“Glamping” investments have slowly become massive money-makers in the real estate industry. What used to be someone setting up a tent and potentially a portable toilet for guests looking to get into nature has now become a full-blown luxury business that travelers will pay good money to get a taste of. One large glamping property allowed today’s investor, Garrett Brown, to replace his music producer job and reach levels of success most short-term rental investors can only dream of.
Garrett owns a ten-acre piece of land in a lake town outside Houston, Texas. Even though many non-Texans won’t be familiar with the area, local travelers flock to it to escape the big city. Since buying the property, Garrett has made some serious expansions, such as building cabins (and even geo-domes) with WiFi, running water, and the creature comforts many of us don’t want to live without.
Plus, Garrett is doing it all while getting most of his bookings directly from social media. That’s right, he has (mostly) cut out Airbnb and other middlemen booking platforms, so he keeps much more of the profit and even gets his guests to upgrade with “add-on packages” that make the deal even sweeter. You can do it, too, but you’ll need to hear how Garrett does it in this episode!
In This Episode We Cover:
Why “glamping” has become such a popular (and profitable) version of short-term rental investing
The “sixty-thirty-ten” rule that helps you identify the best areas for short-term rentals
Leaving your career to build income streams that don’t take up all of your time
How to get seventy to eighty percent of your guest bookings through direct booking
Why you should offer your guests “add-on packages” that help make YOU more revenue
The reason you should “start small” when building out your glamping sites
And So Much More!
Links from the Show
Let Us Know What You Thought of the Show!
Put Your Vacation Rental on Autopilot with Hospitable
Grab the Book, "Short-Term Rental, Long-Term Wealth"
Find an Investor-Friendly Agent in Your Area
See Dave and Garrett at BPCON2024 in Cancun!
Investing in Short-Term Rental Properties: A Beginner’s Guide & How to Get Started
(00:00) Intro
(01:49) Music Producer to…Real Estate?
(08:50) His First House Flip
(11:50) Switching to Short-Term Rentals
(18:11) Buying 10 Acres and Building Cabins
(23:57) Can Anyone Do This?
(30:21) Getting Guests Through Social Media
(34:33) Start Small!
(36:31) Learn from Garrett!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1021
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