Are you looking to see how things shake out in 2021 before entering the short-term rental market? If so, today’s episode was made just for you.
I love the famous Wayne Gretzky quote, “I skate to where the puck is going, not where it has been.”
While it’s always wise to look at where the puck is NOW… It’s incredibly important to look at where the puck is headed.
And if you’re interested in learning more about HOW to actually bring a vacation rental into your life as a part of your income portfolio, I’ve created something else just for you.
It’s called The 6-Figure Vacation Rental Roadmap and I’m putting on the finishing touches right now!
So, if you’d like to be the first to know when this program is live, head over to ginnytownsend.com/rental and save your place in line.
And if you’re curious about how much you could potentially earn with an Airbnb in your area, I can send you a free and pretty powerful tool to help you estimate…
Visit GinnyTownsend.com/estimate to claim access to this powerful free tool!
Thanks for joining me, and until next time, continue to be up and to the right.
What’s up, Podcast Nation! Ginny Townsend here and thank you for joining me for another episode. I am excited to talk about a hockey quote here today. I’m sure you’ve heard the Wayne Gretzky quote, “I skate to where the puck is going not to where it is has been.’’ It’s so good. Right? It’s so good. So what is a hockey quote have to do with talking about short-term rentals?
Well, there are a couple of things we can take into consideration. So there are things like where the puck is now, so that means like what are things like now? What are the conditions now? Where is it located now? And then where is the puck going? Where are things going? Where is the economy going? Where is the short term rental market going where it where are people’s habits and preferences?
Going right and I think if we can position ourselves to make the most out of what’s next and I even hesitate to use this phrase The New Normal because I think we’re all so sick of it, but frankly, that’s what it is. Right. Whatever The New Normal is yeah. I’m not even going to dig into what but let’s think about okay, let’s go back to where the puck is going.
And in my mind it is all about the vaccine rollout and I don’t want to get political here. I just I feel like we’re two divided to have anything solved on a podcast or hmm. So that’s not the point of this. But what I am saying is I do believe that an economy is based is really just a collection of habits and decisions and these
habits and decisions are based on the members’ comfort level, right? And so when the economy when the country when the group of people that we are participating in feels more comfortable with things they will engage in them more and then those habits those decisions those purchasing choices will be more in the economy than when the Comfort level was different. So that’s as political as I’m gonna get.
So in a previous episode, I talked about elevator operators back in the day. So early nineteen hundreds picture it with me when skyscrapers and I’m are quoting because obviously skyscrapers have changed incredibly over the last hundred plus years, but when there were buildings that were taller and taller and elevators were placed in them people were not
Comfortable with elevators they were scared of elevators. They were intimidated. They did not like them they were not comfortable with elevators. So elevator operators were introduced and I don’t want to belittle anyone’s job ever ever because work is Honorable, right? But they’re their primary responsibility was to make people feel more comfortable. I mean anyone as we know can push buttons in an elevator.
But people felt more comfortable they got on the elevator when an operator was present versus when an operator was not present and I really do think that the vaccine and once it hits kind of a critical mass will be like the elevator operator. So I want to share with you a great Rapport and kind of a prediction from
A software and then also a data kind of aggregator for the rental market both short term and long term is called Mash visor and I will link to this company as well as to this post that I’m referencing in the show notes. It’s just it’s a great tool. I obviously have no affiliation with them. But there it’s a great tool I’d recommend to people they have forecasted that they believe the elevator operator. So my words not theirs.
Is will arrive by September when a bulk of Americans have received the vaccine from my lips to God’s ears, right?
They have also forecasted that daily rates will be consistently higher in 2021. Then in 2020 hitting an average of two hundred dollars a night. So that’s an average my friends $200 a night by August. So that’s interesting. Right? So it is all if you could see the charts, right, but that’s not that’s not the platform of podcasting which is why I’m going to link.
The to the article it is moving in the right direction. The graph that I’m looking at right now is up and to the right which is literally how I close out every episode. So, you know, I’m on board with up and to the right additionally they and other sources have predicted a travel Bloom when a critical mass of the population has been inoculated and so and they’ve used different words. I mean all of
the different sides this is that’s my word of a travel boom, but people are itching to kind of get back to what they’re used to to but get back to what they’re comfortable like. Yeah, it’s good once they’re comfortable with things like travel. They people love to travel. I love to travel right we all love to travel so I can’t wait also for that critical mass to have have received the inoculation and we can experience what life is like post covid so go
Back to this article on mesh visor. I do want to note that their numbers of saying okay by September we should be back to normal that is looking at the entire ecosystem as a whole and I think it’s worth noting that any data always question data, right because numbers don’t lie, but but people do is that is that too honest, but I don’t think people intend to
uh, like that’s that’s not my point. I’m just saying you can make numbers look however, you want them to look so taking a look at the entire ecosystem of short-term rentals is one thing but then you can also take a look at there have been pockets of vacation rentals that have had a banner year and those are the short-term rentals that are in more rural areas or at least Suburban areas. They’re just not maybe the heart of downtown’s because a lot of I mean, those are the
The rentals that have been hit the hardest and there are a lot of vacation rentals in cities. So it’s ways the big picture numbers. So I think then this was not this is me commenting on this Mash visor article. I think that the more Rural and Suburban listings are going to drive the numbers forward and eventually list.
Things in the heart of downtown areas all across the country. They will get back I think to their their Glory years, but I do believe it is going to be the rural and more Suburban ones that are going to lead the charge back to and I’m are quoting the normal.
So, how is this related to Wayne Gretzky, right? My point is ask yourself. Where is the puck going? Where is the puck going in 2021. We all experience the hockey game that was 2020 and we’re happy to put that in the history books. But where is the puck go let’s look forward. We must think about where it is now because that is that’s foolish for us to not take into consideration, but pucks move.
That is what we do. They move so ask yourself. How are you positioning yourself to reap the rewards of a travel boom when the vaccine has been disseminated?
Now if you know that this is the year for you to add a short-term rental. If you want to skate to where the puck will be by adding a short-term rental to your income portfolio. I feel compelled to tell you I’m creating something just for you because you know, you want to create more income diversification, right? You know, you want to have a rental property, you know that a vacation rental is one of the
To lucrative forms of rental properties that can create consistent Revenue month after month after month, but you don’t know where to start right? It is a whole big thing. What is the whole process look like? What do you do? How expensive is it? How time consuming it what I mean? Literally is it legal to do air B&B in my city? Okay, let me tell you what I did it on accident that yep. You heard me right?
Right. I was an accidental six-figure Airbnb host and I figured out what I was doing as I needed to do it. I pretty much built the plane as I was flying, right, but you know what? I’m even more in love with this Revenue stream than ever before which is exactly why I am creating this program with 2021 and Beyond in mind. In fact, I am recording it in 2021. So this is not some dated.
Via spree covid thing. This is this is a now during covid and post covid approach and it is called the six-figure vacation rental roadmap how to find furnish and fill a profitable short term rental and is all about giving you the step by step instructions simplifying the process on finding and Furnishing and then really importantly filling a profitable vacation rental.
These are the things that would have loved to have back when I was starting. Oh my gosh. Oh my gosh. I just I was pretty much Flying Blind. But you know what, we made it happen in the thing is you don’t have to fly blind. You don’t have to reinvent the wheel. You don’t have to just guess and hope because that is not a business strategy, right? That’s not an income strategy and you know what? I can’t wait to share all that I have learned with you. So if this sounds like something you’re interested in head
Over to Jenny townsend.com rental right now and secure your place in line for when this launches. I am putting all my heart and soul in this product. You know, I really am I keep thinking about what would make the difference what what are the little nuances that helped us be successful month after month because our first property we had that on Airbnb before we sold it and moved across the country. We had it on air B&B for three.
Years and it was profitable every single month every single month. So I keep thinking like, what did I do that? I didn’t maybe know that I was doing right or what did I do? I had to learn the hard way and then recovered I am putting in all of that information and I can’t wait to share with you all that I’ve learned. So I’m putting on the finishing touches right now. Now if you want this to be a part of your income portfolio if you want to skate towards the puck in 2021 head over to Jenny tail.
In.com slash rental today to get started. So thank you so much for joining me today. I hope that this this classic Wayne Gretzky quote. Got you thinking where is the puck going? Where the puck is it all going anyway, so thank you so much again for joining me today. I look forward to next time. But until then continue to be open to the right.