Vacation Rentals Using Dynamic Pricing

To get a competitive edge over your competition why not use Dynamic Pricing for your #VacationRental?

This year for me has been more successful than past years since I started to use dynamic pricing.  How I use this tool is I show a rate difference between weekdays and weekends. 

You'd be surprised how many guests who are looking for a lower rate and specials will book during the week.  

My weekends have always been full, it's been the week days in my off season where this strategy has worked wonders.

I'd love to hear your shared experiences about your using dynamic pricing and how has it has improved  your vacancy rate.  Please share with me.  

Baby Boomers Investing in a Bed and Breakfast

Yes you can start your home based business from your own home today!!

The smart way of doing it is start to rent out rooms in your home if you want to get a feel if you like his type of real estate investment. Why spend a lot of money on a hunch that real estate investing is for you. 

Buying and selling real estate is easy. What makes the difference between having a successful real estate business is the management and marketing of your business. 

Everywhere I go, once people hear that I'm a real estate investor, or that I own a vacation rental business, or that I run a Bed and Breakfast.  People state "I always wanted to do that it must be easy!"

People seem to think that owning real estate or running a Bed and Breakfast or vacation rental is easy and that we owners are millionaires!!

The one thing I don't hear from these people is the main question "what is the down side of being a real estate investor" or how much work does it take to become an "overnight success". 

Real estate is just like any other business it takes endless hours of study, sleepless nights worrying about where the next tenant is coming from. 

The one thing I learned very quickly is that in order to be successful I would need a mentor or coach who was already successful in real  estate.  

So I got a coach in both my vacation rental business and real estate. Having done this at the same time as starting my real estate investing saved my butt many times. 

It's not easy if you want to become a Real Estate Millionaire, you will have to overcome a million problems.  The more money you want to make the more problems and hurdles you'll have to overcome.  

Understand this rule at the very beginning of your investing will prevent you from loosing your shirt.  

Just because you buy a Bed and Breakfast or any type of real estate investment doesn't guarantee success. 

What guarantees success is your willingness to learn, grow and ask for assistance and guidance from investors or mentors or coaches who are more successful than you are.  

Tell me about why you'd like to open a Bed and Breakfast and what are the steps you're taking in order to start. 

Happy Investing

Maria Rekrut

Http://realwealthvacationrentals.com

3 Marketing Tips to Increase Vacation Rental Reservations

Three ways to increase your vacation rental business during the slow season:

1.  Cater to young families by offering along with their stay some toys and games that you can leave at your vacation rental for them to find.  You can leave a list of nearby children friendly facilities along with a list of baby sitting services. 

2.  You can cater to wedding parties, stags and does, anniversary and birthday  parties. 

If you have a large enough facility and the grounds to accommodate actual weddings on your property this might be an additional service you can offer. 

Weddings are now more about the destination as there is an increase in groups going to Jamaica and other islands for wedding parties. 

On that note you can cater to the older couples who are getting married for a second time and want to stay closer to home. 

3. Specializing in one market place is a good idea for increasing your business. For  example if you want to be pet friendly you need to get yourself listed on pet friendly websites. 

There's a whole new market place that you can cater to.   You can find the pet friendly listing sites by googling the words "pet friendly hotels". 

These are a few ides they I've seen working out very well with some of my Vacation rental and B&B buddies.  

Happy Investing

Maria Rekrut

3 Reasons why Vacation Rentals are Better than Regular Rentals

I just got off the phone with one of my real estate buddies.  He's been in the real estate rental business for over 25 years.  

So Kevan has been around the block and back a few times. He was telling me about 2 of his tenants from Hell. 

If you've never experienced at least a couple of Tenants from Hell then you can't call yourself a real estate investor. 

These tenants will "break you into the business".  I've had a few  of them myself but thank God I didn't experience the worst of them.  

Why am I so lucky?  It's because of the paperwork that all the Tenents had to sign and because everything was documented, that's what's saved my butt.  

3 Things that Will Save You from Sleepless Nights:

1.  Document everything that is said by both you and the tenant. Email is one of your best friends to have for documentation.   

2.   Have tenant sign a lease agreement, incoming and outgoing  inspection form, do a credt and landlord check on the tenant.    Get a video of your premise along with the tenant walking throughout it doing your incoming inspection. 

3. Make sure that your smoke detectors are serviced  and working and have the tenant sign paperwork with you as a witness, stating that the smoke detectors are in working order. 

These are some of the management must do's in order to not have problems with you tenant. 

Now if you own a vacation rental you can use some of this paperwork and management strategy to keep your vacation rental safe from unruly guests. 

Happy investing. 

Maria Rekrut

Http://realwealthrealestate.com

Why Owning a Vacation Rental will Build Wealth

Owning a vacation rental may be one of the most important decisions you ever make toward building your retirement nest egg. 

Why do I say that?  It's because owning a second home gives you the flexibility  to make money not only as a long or short term rental. 

But you can also refinance your 2nd property and pull out equity.  

You can take this equity and you can pay off debt or use it as a down payment for your next real estate purchase. 

You also will have a vacation home that you can use anytime of year. 

Rule to follow in real estate in order to be successful:  make sure the house pays for itself don't put any of your hard earned money into carrying the mortgage.  

If your house can't do this for you and make your life easier then don't purchase it no matter how much you love your "dream vacation home".   

I'd love to hear about what creative ways you purchased your vacation rental home.  

To find more vacation home ownership tips go to my website:  http://realwealthvacationrentals.com

Happy Investing

Maria Rekrut