Short-term rentals were profitable in 2021 but are now oversaturated and unprofitable by 2024. The speaker bought a ski house primarily for personal use, renting it out to help cover the mortgage rather than chase pure profit. He says there are easier ways to make money than fighting the current short-term rental market.
I no longer recommend short-term rentals. They were a great strategy in 2021. They are not a great strategy in 2024. I know a lot of people that no longer like short-term rentals, myself included. I'm not recommending short-term rentals as a strategy unless, like we are with our Winter Park home, it's a dual-use investment. And what I define as a dual-use investment is number one, return on happiness, number two, return on investment. So we bought a ski house that we were going to rent out part-time to pay for the mortgage so that we can use the ski house for free. To me, that's a rad investment, but it's primarily for fun. And that, I think, is a reasonable reason to have a, a short-term rental. If you want to make money, there are much easier ways to make money than trying to gut it out, the short-term rental. Um, and that market is crazy saturated.
