Mark Simpson owns 250 rental units but only eight are short-term rentals. He needed five to hit his cash-flow goals and bought three over two to three years. Quality means picking the right market and meeting guest expectations, not buying the fanciest houses.
July 10, 2023
Mark Simpson
250 doors
8 short-term rentals
About 5 short-term rentals
I think quality properties over quantity is very important. I think a lot of people get caught up. Like they'll hear me say I have 250 doors and they're like oh, I got to have 250 doors. Well only eight of those are short term rentals and because that's all I need, I don't need 250 short term rentals to get where I want to be cash flow wise. I only need, I really only needed five but I've bought three over the course of the last two or three years. But those core five were really what paid for all of my other rentals. So I, I would say quality over quantity. And by quality I don't mean like having the, the biggest, nicest, fanciest house in the entire market. I mean buying in the right market where the regulations are favorable. Buying a property that is something that the tourists in that area have come to expect. What they want to rent.
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