How to succeed in the vacation rental investment market

Shawn Moore was selling high-end resort properties back in 2008. He was making big money, living lavishly, and about to close on a new mansion in Newport Beach. When, out of nowhere, the owner of the resort they were selling for got indicted on securities charges. Feds came in and shut everything down overnight, including their paychecks. In this episode, discover how Shawn came out of this huge loss and turned around to excell in a related sector. Shawn shares his strategies for growing and scaling a short-term vacation rental portfolio. Learn from Shawn's 20 years of ups and downs as an investor. Episode Link: https://vodyssey.com/ --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Michael: What's going on everyone? Welcome to another episode of the Remote Real Estate Investor. I'm Michael Albaum, and today I'm joined by Shawn Moore, who's the founder of VITC, a short term and vacation rental education program and he's gonna be talking to us today about what we need to be aware of as we get involved in the space as investors. So let's get into it.   Shawn Moore, what's going on, man, thanks so much for hanging out with me. I appreciate you.   Shawn: Awesome, Michael. Thanks for having me, man. I really, really excited to chat with you.   Michael: Now, likewise, likewise. So it's gonna be a lot of fun. We're gonna be talking all things short term vacation rental today. But I want to give our listeners a little bit of background into who you are, where you come from, and what is it you're doing real estate today?   Shawn: Yeah, awesome. Well, first, thanks for thanks for having me and, yeah, we've been around the real estate game for a little while now. I've been a full time real estate investor for 22 years, if you can believe it. I feel like I've been around the block a time or two and really started my journey into real estate in the fix and flip game for a long time, I was just doing mostly fixing flip houses I wholesaled. One deal, it's what got me into the into the game back in 2000 and then realized I wanted to wanted to start doing the actual rehab on the properties and did that for a good bit of time and I remember going back in the day to a real estate investment club, local real estate investment club meeting, kind of sticking my chest out and acting like I was a big shot and telling everybody how awesome I was at I think I was about 23 at the time and felt like I'd had I had arrived, right and I remember this old guy named George, he came to me and put his arm around me and just said, Hey, Shawn, you I know you think you're pretty, pretty big deal around here. But you're really not a real estate investor, you need to quit referring to yourself as an investor, you have a job fixing up houses and at the time I really shot my ego, right? I was like, man, this this kind of sucks. I mean, he's like, if you can't be an investor, if you don't have any passive income and that was that was back in the you know, I was a couple of years into real estate in what I thought was investing, which a lot of people a lot of us have done fix and flips and but he was right, you know, really I was, I'd buy a house, I'd have to fix it up and I'd sell it and I have to keep doing over and over and over again and really that's what I had, I had a job of fixing up houses and selling.   So it opened my eyes back then that conversation to the idea of passive investments and passive income in real estate and, you know, there's lots of avenues, lots of lanes that you can run down in real estate and the natu