Bringing Zen Hospitality to Short-Term Rentals with Mike Brockway
While many people have written off the short-term rental market, savvy investors like Mike Brockway see opportunities where others see obstacles. On this episode of Zen and the Art of Real Estate Investing, Mike shares his insights for navigating the sometimes volatile world of short-term rentals in the Denver area. As the owner of Zen Haus Homes, investor, and entrepreneur, Mike shares how he adapted his approach to thrive in this changing market, demonstrating that success is not about avoiding challenges but embracing change and innovation.
Jonathan and Mike Brockway’s conversation starts with Mike's latest venture, a large-scale, short-term rental project designed to serve multiple purposes. From discussing Mike's transition from a W-2 position to full-time real estate investing to unraveling the impact of true wealth on personal fulfillment and happiness, Mike lifts the veil on what it takes to run an Airbnb business. Mike outlines the importance of regulatory awareness in the short-term rental market and emphasizes creating a reliable team to sustain success. Jonathan and Mike also explore the shifting short-term landscape and strategies for managing guest experiences effectively.
Jonathan and Mike cover in-depth:
Mike’s latest project, a 4,000-square-foot short-term rental, is risky, but he’s appealing to a new niche of renters.
Understanding the regulations surrounding short-term rentals is crucial, so focusing on one market makes that much easier.
Mike’s scrappiness and willingness to create a new set of rules contribute to his success.
A property's design and amenities are a big deal because Airbnb will prioritize the properties people are booking in their algorithm. The more amenities and the better the design, the more bookings are generated.
If you’ve ever considered getting into the short-term rental market, you won’t want to miss this interview with Mike Brockway.
If you want to learn more about Zen and the Art of Real Estate Investing Podcast, check out http://www.trustgreene.com/podcast/zen/114.