Jeremy Werden, co-founder of BnBCalc and co-host of the Short Term Rental Pros podcast, sits down with Paul Morris to explain why the next big thing in short-term rentals is the experience, not just the property. Jeremy started by renting pontoon boats during COVID and now owns a multi-state portfolio of short-term rentals and runs a software platform used by thousands of investors. In this episode he shares his secrets for making money in markets across the country.
How to reach Jeremy:
www.bnbcalc.com/
www.instagram.com/jeremywerden
www.linkedin.com/in/jmwerden/
www.facebook.com/jeremy.werden
https://www.youtube.com/channel/UCPACQuaK_bLC6molJb4K4kA
Connect with Paul
Instagram: / paulmarkmorris
LinkedIn: / paulmarkmorris
TikTok: / itspaulmarkmorris
Facebook: / paulmarkmorris
Chapters:
0:00 Intro: Jeremy Werden on Short-Term Rental Pros & BnBCalc
0:55 From New Jersey to UNC Basketball
1:30 COVID Furlough & the Push to Start a Business
2:15 Buying Pontoon Boats After Watching Ozark
2:55 Pivoting to Lake Houses at Hyco Lake
3:20 How BnBCalc Started (7-Investor First Deal)
4:40 BnBCalc Today: Thousands of Users & the Markets Tool
5:25 Boat Rental Economics: Why It Was a COVID Anomaly
6:40 Why Houses Beat Boats (and the Lake Retreat)
7:40 Why Jeremy Built BnBCalc to Win Homeowner Clients
8:45 What a BnBCalc Report Shows (Seasonality, Fees, Competitors)
10:00 Bonus Depreciation & the Short-Term Rental Loophole
11:15 What BnBCalc Does (and Doesn't Do)
12:35 Catch-Up Depreciation for Existing Owners
13:45 Cost Seg Services Jeremy Uses
14:15 Cost Segregation Explained
16:45 Landscaping, Pickleball Courts & Depreciation
17:40 Designing a Short-Term Rental: Bedrooms vs. Closets
19:35 "Buy Only Where You Know" Investing Rule
21:05 Joshua Tree Lesson: Why Not to Split the Lot
22:45 Property Management Fees: Is 20% Standard?
24:30 Can Deals Still Pencil Out With a Management Fee?
25:50 Value-Add Example: Turning an Attic Into Bedrooms
26:35 Refinance & Reappraisal Results
27:10 Why Cheap Furniture Is "Lipstick on a Pig"
27:50 Creating a "One of One" Experience
29:30 Underwriting vs. Reality: $250K Kentucky Lake House
31:05 The Three Boxes: Tax Benefits, Value-Add & Revenue
32:30 Quick Market Research on Airbnb & VRBO
33:30 How to Invest Out of State
34:35 Listener Case Study: $350K in Year One
35:55 Piggybacking on a Partner's Kentucky Properties
36:20 Where to Find Jeremy + BnBCalc Free Trial
#ShortTermRental #STRInvesting #AirbnbInvesting
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