Podcast

Zen and the Art of Real Estate Investing with Jonathan Greene

228: How To Take Short-Term Rentals From Construction To Cribs with Mark Lumpkin

Short-term rentals are still a popular asset class, but you have to optimize them for your guest avatar to get them right.

On this episode of Zen and the Art of Real Estate Investing, Jonathan sits down with Mark Lumpkin, Sales Director at STR Cribs. STR Cribs helps STR owners understand what makes a high-performing short-term rental. They are renovation and design experts for top-performing short-term rentals nationwide.

Jonathan and Mark start their conversation by exploring the features a short-term rental needs to stand out, how you can optimize a property’s features, and the importance of addressing preventative maintenance before it becomes a problem. Mark explains why paying attention to guest feedback, performing trial stays at a property with friends and family, and the difference between market-specific and universal amenities is important. You’ll hear why data is essential in purchasing the right property in the right market, why you shouldn’t overlook secondary STR markets, and adding ADU or disability accessibility to appeal to more guests. Finally, Mark shares how he and his wife began investing in STRs, how STR Cribs can help STR owners design and build their ideal short-term rental, and his advice for investing in an asset you can use and rent out.

Short-term rentals continue to be a popular option for real estate investors, and now, more than ever, they have to stand out from the crowd. Mark Lumpkin offers insights on creating a property you and your guests can enjoy.

In this episode, you will hear:

What drew Mark Lumpkin to short-term rentals, and why each STR has to stand out
Optimizing the features of each property and customizing it to your guest avatar
Addressing preventive maintenance and longevity rather than putting them off
Paying attention to guest reviews and listening to feedback
Staying in your properties and asking friends and family to stay there to address any issues you didn’t think about
Market-specific amenities versus universal amenities based on different guest types
Using data to purchase the right property in the right market
Why you shouldn’t overlook some of the secondary STR markets
The importance of ADU or disability accessibility in a property
How Mark and his wife began investing in STRs after some international travel where they learned some lessons about what did not fit their lifestyle
How STR Cribs helps STR owners design and build their ideal STR
The lack of top-tier homes available as STRs and the best ROI amenities
Mark’s advice for investing in an STR you can use as well as rent out

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