AREI 102 : Short Term Rental Secrets Patricia Baker & Lori Lusk
Trish and Lori are two real estate investors who decided to make a change in real estate investing and make an impact on short-term rentals. Trish loves having a place for large groups of family and friends to gather together and enjoy their vacation time, while Lori is an avid traveler and loves staying in other people's homes.
Lori is married with two young children, considers herself a huge systems and spreadsheet nerd, and lives in the Pacific Northwest, where she loves anything outdoorsy. Trish is married with two young boys and lives in the suburbs of Philadelphia where they wander elsewhere whenever they get the chance. In this episode, we welcome Patricia Baker & Lori Lusk as they share why they both believe that short-term rentals are the perfect way to travel where everyone can be comfortable and enjoy themselves. Join us and listen in!
[00:01 - 16:15]
• We welcome Patricia Baker & Lori Lusk to the show.
• Patricia Baker & Lori Lusk's background on how she started in real estate investing.
• What motivated Trish to purchase a short-term rental after for losing a job?
• Why Lori exited on a townhouse property back then?
• Where are they both in their short-term rental portfolios?
• How did Trish decide to go after a specific type of property?
• Vetting the person who represents the groups to avoid property damage?
• Having larger properties with short-term rentals means lower occupancy and if the amount per night covers low occupancy?
[16:19 - 33:26]
• How Lori decides who to partner with?
• Co-hosting similar properties in similar areas or totally different ones?
• Partnerships and creating the "Remote host hub handbook"
• Asking Patricia Baker & Lori Lusk the Adventurous Four
Memorable Quotes:
"Invest in your education, invest in your systems all of those things really make a huge difference Before you start. Learn what other people have done." - Patricia Baker
"If you just tell everyone that you know, anyone that you run into what you're doing or what you're interested in, there's so many people that you'll run into that have a similar interest." -Lori Lusk
Connect with Patricia Baker & Lori Lusk
https://www.instagram.com/remotehosthub
Explore more. Adventure awaits.
