EP102: How to Analyze Real Estate Data Like an Expert with Jamie Lane
05/23/23 • 27 min
Jamie Lane is the Vice-President of Research at AirDNA, a leading short-term rental data and analytics company. In this episode, Jamie shares his extensive expertise in real estate, data analysis, and revenue management strategies for short-term rental investments.
Listen to this episode to learn more about short-term rentals and analyzing real estate data!
Key Talking Points of the Episode
00:00 Introduction
00:27 What is Jamie Lane's background in real estate?
01:26 Where does AirDNA gather data?
02:21 What kind of data does AirDNA track?
03:06 What does AirDNA’s Rentalizer do?
04:16 What are market cycles like in the short-term rental space?
06:22 What are the occupancy levels like for short-term rentals?
07:48 How does long-term data help in making better decisions for your rentals?
08:34 What are the top problems investors are trying to solve in the short-term rental space?
10:35 How does AirDNA help owners manage their rates?
11:30 What are strategies to implement in revenue management?
12:57 What strategies are working on getting short-term rentals booked during down seasons?
13:36 How does AirDNA data help owners plan for on and off-peak seasons?
14:18 How does AirDNA help investors find the property manager they need?
15:45 How do bedroom counts impact the performance of short-term rentals?
17:02 What amenities should investors provide for short-term rentals?
18:15 Why is the demand for short-term rentals higher today?
20:26 What does the future look like in the short-term rental space?
21:20 How can you improve your short-term rental through AirDNA data?
22:35 Who is the best client for this software?
23:57 What’s the average cost of Jamie’s software?
25:05 How can you connect with Jamie?
23:55 What are the benefits of subscribing to AirDNA?
Quotables
“People started to get out again and they wanted to travel. They weren't necessarily willing to stay in a hotel. So they looked to short-term rentals.”
“What are the amenities that I could add to my property that would actually differentiate me and get more bookings than my competitors.”
“I'm gonna take what's doing really well in Gatlinburg and try to replicate it in this other destination and beat out the competition that way.”
Links
Website: AirDNA
Website: AirDNA Blog
https://www.airdna.co/blog/best-places-to-invest-in-us-vacation-rentals-2023
Podcast: STR Data Lab
https://podcasts.apple.com/us/podcast/str-data-lab-by-airdna/id1648542434
Jamie Lane is the Vice-President of Research at AirDNA, a leading short-term rental data and analytics company. In this episode, Jamie shares his extensive expertise in real estate, data analysis, and revenue management strategies for short-term rental investments.
Listen to this episode to learn more about short-term rentals and analyzing real estate data!
Key Talking Points of the Episode
00:00 Introduction
00:27 What is Jamie Lane's background in real estate?
01:26 Where does AirDNA gather data?
02:21 What kind of data does AirDNA track?
03:06 What does AirDNA’s Rentalizer do?
04:16 What are market cycles like in the short-term rental space?
06:22 What are the occupancy levels like for short-term rentals?
07:48 How does long-term data help in making better decisions for your rentals?
08:34 What are the top problems investors are trying to solve in the short-term rental space?
10:35 How does AirDNA help owners manage their rates?
11:30 What are strategies to implement in revenue management?
12:57 What strategies are working on getting short-term rentals booked during down seasons?
13:36 How does AirDNA data help owners plan for on and off-peak seasons?
14:18 How does AirDNA help investors find the property manager they need?
15:45 How do bedroom counts impact the performance of short-term rentals?
17:02 What amenities should investors provide for short-term rentals?
18:15 Why is the demand for short-term rentals higher today?
20:26 What does the future look like in the short-term rental space?
21:20 How can you improve your short-term rental through AirDNA data?
22:35 Who is the best client for this software?
23:57 What’s the average cost of Jamie’s software?
25:05 How can you connect with Jamie?
23:55 What are the benefits of subscribing to AirDNA?
Quotables
“People started to get out again and they wanted to travel. They weren't necessarily willing to stay in a hotel. So they looked to short-term rentals.”
“What are the amenities that I could add to my property that would actually differentiate me and get more bookings than my competitors.”
“I'm gonna take what's doing really well in Gatlinburg and try to replicate it in this other destination and beat out the competition that way.”
Links
Website: AirDNA
Website: AirDNA Blog
https://www.airdna.co/blog/best-places-to-invest-in-us-vacation-rentals-2023
Podcast: STR Data Lab
https://podcasts.apple.com/us/podcast/str-data-lab-by-airdna/id1648542434
Previous Episode
EP101: How to Achieve Success with Multifamily Properties with Matt Faircloth
Matt Faircloth is a multifamily real estate investor with a portfolio of thousands of doors that he accumulated over the years. He is on the show with us today to talk about how he got into multifamily real estate, the strategies he uses, and how you can get into this space too!
Listen now to learn more about investing in multifamily properties and how you can find success in it like Matt did!
Key Talking Points of the Episode
00:00 Introduction
00:29 What is Matt’s background?
01:31 What is it like to have thousands of units in a multifamily portfolio?
02:24 What is it like to manage multifamily properties?
04:00 How did Matt get into real estate?
05:11 Why did Matt choose to get into rentals?
06:20 How can rental properties help you through any kind of economy?
08:30 How can the Cash Flow Game help you learn skills for your business?
11:11 How can someone doing single-family get into the multifamily space?
13:46 What can investors do to get started in putting multifamily deals together? 15:32 Where can you find good multifamily deals?
17:31 Why is it important to build relationships with the right brokers? 18:01 What kind of multifamily properties does Matt buy today? 19:05 What numbers can tell if a multifamily deal makes sense or not? 23:41 When do values change in multifamily?
25:30 How does the BRRR method work in multifamily properties? 27:24 What is the best way to handle difficult properties?
29:41 How can working with local police officers help keep a building safe?
32:47 How does Matt help investors get into the multifamily space?
34:35 Who is the best fit for Matt’s mastermind?
35:05 What is the best way to reach out to Matt?
Quotables
“You catch the market cycle. But if you don't, rentals can be very forgiving if you hold them long enough.”
“It was really through private investors that we ended up getting into multi and this isn’t one’s better and one’s not – but really, we’re able to take down deals that are way larger than we could afford with our own cash or that our investors can afford by themselves.”
“The broker that sells you a duplex, a single-family home is not the same broker that’s gonna sell you a 30-unit apartment building.”
Links
Website: DeRosa Group
Instagram: Matt Faircloth
https://www.instagram.com/themattfaircloth/
Book: Raising Private Capital
https://www.amazon.com/Raising-Private-Capital-Building-Peoples/dp/1947200984
BiggerPockets: Matt Faircloth
https://www.biggerpockets.com/blog/contributors/mattfaircloth
Next Episode
EP103: Key Strategies in Hiring the Right People for Your Team with Austin McCurdy
Austin McCurdy is a renowned expert in talent acquisition and management. In this episode, Austin shares his expertise on leveraging personality tests like the Predictive Index to identify the right people to hire for your team and the importance of assessing an applicant's interests and experience beyond the interview.
Listen to this episode to learn how behavior impacts the hiring process and why understanding an applicant’s motivation is essential!
Key Talking Points of the Episode
00:00 Introduction
00:30 What is Austin’s background?
01:41 How does the recruitment process begin? 03:10 What do most business owners look at when hiring people? 05:12 How does the Predictive Index help in identifying the right people for your team?
07:01 What are the factors you should consider when interviewing people? 09:13 What should you look for when you’re hiring for acquisitions?
11:37 What is the importance of motivation when hiring a person? 14:04 How does behavior impact the performance of a person in their job?
16:45 What are the differences between acquisitions and lead management?
19:31 What is Predictive Index?
21:15 How can the Predictive Index help you in the filter applicants?
24:18 How does Sharper Business Solutions help identify the right people for different jobs?
26:57 Why is it important to hire the right people for the right jobs? 28:24 What is the importance of understanding the personality of people when you’re hiring?
30:10 Who is the ideal client for Sharper Business Solutions?
32:31 What is it like to work with Sharper Business Solutions?
34:13 What is the best way to connect with Austin and his team?
Quotables
“Hiring is always subjective, it always is like it's a gamble.”
“Recruiting is really just a sales process. There's lead generation, there's lead management, and then there's the close.”
“There’s a lot of people who do that sales training, it’s very specific because acquisitions isn’t sales. You’re not selling anything.” “If somebody is doing what they like doing, there's 34% better performance.”
Links
Website: Sharper Business Solutions
Website: HackerTrail www.sharpertalent.com
Email: Austin McCurdy
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