Don't Even Ask For The Seller's Rent Roll

This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries. Welcome to another episode of STRonomics! In this episode, hosts Bill and Kenny discuss why relying solely on rent rolls when purchasing an investment property is a mistake. They point out that it's common for properties to be marketed based on a specific rent roll history, but the real potential often lies in property improvements. However, location is absolutely crucial, and they emphasize the importance of Location, Proximity, and Views. Kenny shares his negotiation strategy of using rent rolls to challenge numbers and potentially negotiate a lower price or walk away from a property. Bill talks about switching agents if they push rent rolls too hard, as it may indicate inexperience in the short-term rental (STR) market. They stress that property owners often sell "desirable" properties when they're not making money and can't show a clear revenue proforma. Bill and Kenny advise against buying based on potential and suggest evaluating offers based on projected revenue from comparable properties in the area. They reveal a savvy investor tactic: requesting sellers' tax returns to get a more accurate financial picture and verify if tax and rent roll figures align. [00:03] Intro to STRonomics [00:07] Rent Rolling [02:22] Right Location [05:00] Negotiations & Proformas [06:57] Off Platform [08:42] Kenny’s Reel [11:08] Not Making Money [13:02] Penciling It Out [14:17] Paying Taxes [15:31] Gulf Shores [16:39] Wrapping Up We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices