Business
Still the number one question that I get is: Where are the most profitable locations? I want to challenge you today to ask a different question. When you ask better questions you get better answers. Your short term rental is a long term investment and markets change over time. Publications love to promote the Top Location Lists because they know that's what people want to see. However, those lists are like musical chairs. How do you identify the most profitable locations??? Most look at the ratio between Acquisition Price and Revenue generated by the property and that is a calculation of ANR and Occupancy. The problems is that those things changes all the time. I challenge you to ask different questions like: What makes a location or specific property type profitable? What are the major profit drivers in an area? What can I do to add profitability to the property? What can I do to market and stand out in a crowded marketplace? All of these questions will help you better determine the most profitable market for YOU. The best part is, there is not 1 or 10 or 100 great markets to own Vacation Rentals. There are thousands. There are pros and cons in every market but if you start to peel back the layers of the onion and really understand the profit drivers in a particular area you will not be dependent on what the market is doing to dictate your profitability. One of the best parts about VR as an investment is that we have the ability to maximize the profitability. . The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets. . Lifestyle Assets are more than just short-term vacation rentals. Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family. . For more content and expert advise, visit www.LifestyleAssetUniversity.com