114: Bringing Zen Hospitality to Short-Term Rentals with Mike Brockway

While there’s been a lot of talk about the collapse of the short-term rental market, some real estate investors know that never really happened. Instead, they focus on changing their approach and finding other ways to continue their success with short-term rentals.

On this episode of Zen and the Art of Real Estate Investing, Mike Brockway sits down with Jonathan to discuss how his success with short-term rentals in the Denver area has allowed him to take bigger investment risks. Mike is the owner of Zen Haus Homes and an investor and entrepreneur. Zen Haus is primarily in the short-term rental market, and Jonathan explores the ins and outs of this investment class with Mike.

Their conversation begins with Mike’s latest project, a larger-scale short-term rental, which will serve multiple purposes. You’ll hear why Mike left a stable W-2 position to pursue real estate investing, the impact of true wealth on fulfillment and happiness, and why understanding the regulations surrounding the short-term rental business is crucial. Mike explains his reliance on a capable team he’s built over the years, some of the more important lessons he’s learned as a short-term rental investor, and why the aesthetic and amenities of properties matter so much more in today’s Airbnb world. Finally, Jonathan and Mike explore the pros and cons of instant bookings, how to handle problem visitors, and what Mike sees next on the horizon.

Short-term rental properties aren’t everyone’s cup of tea, but Mike Brockway mastered the concept, allowing him to take bigger risks today. If you find short-term rentals intriguing, this is an episode you won’t want to miss.

In this episode, you will hear:

Mike Brockway’s focus on large-scale short-term rentals and what he hopes to accomplish with his latest project
Who rents larger-scale short-term rentals, and why they can be perfect for business uses
The conversation that changed Mike’s perspective on W-2 jobs and pushed him toward something different
True wealth and its impact on fulfillment and happiness
The importance of understanding regulations surrounding short-term rentals and having a team you can rely on to navigate changes
Why so many investors have difficulty letting go of assets that aren’t working for them
Some of the crucial lessons Mike’s learned as a short-term rental owner
Managing the managers and surrounding yourself with a team that can grow with you
The makeup of Mike’s property portfolio and making your own rules
How he began managing properties for others and keeping his team busy
The design and amenities of short-term rentals and why hiring a designer can make the difference
The pros and cons of instant bookings
Handling problem visitors and refunds
What Mike Brockway wants to do next and how events are helping him reach his goals

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