How to Turn a Short-Term Rental Into a Guest Experience | Josh Schumann

If you've thought about or even had an idea about looking at short-term rentals, uh, dig into it. The benefits are amazing. We have not only the cash flow, which is what mainly draws people, but the long-term wealth that can be developed through that, through the equity. The tax benefits are absolutely huge. Those first year tax benefits with the, uh, short-term rental, uh, loophole is amazing. That drew us to it. But dig into it, look into it, talk to people that are also involved in it. That's my nugget.

Welcome to The Real Estate Pros Show, where we interview real estate investing professionals from coast to coast, as well as the service providers that serve the real estate investing industry. Our goal is simple, share what's working now to help you improve and scale your business to the next level and meet the pros that can help you get there. Real Estate Pros is powered by Investor Fuel, America's leader in helping real estate investors and professionals build the business you need to live the life you've always dreamed of. Let's start today's show.

Welcome back to The Real Estate Pros podcast, powered by Investor Fuel. I'm your host, Scott Bursey. Glad you're with us. And today we're delighted to have Josh Schumann joining us. Josh, alongside his wife, Hannah, founded Summitree Holdings and launched Mossy Tides Retreat in the Savannah, Georgia area. Josh and Hannah focus on building long-term wealth through strategic short-term rental investments. Listeners, you can expect a deep dive into scaling luxury vacation rentals and creating sustainable cash flow. Get ready for a detailed breakdown on mastering the short-term rental market. Josh, welcome to the show.

Scott, thanks for having me.

It's awesome having you here. And to help our listeners get up to speed, please give us the 90-second highlight reel of how your career ignited and where you're pouring your fuel now.

In 90 seconds. So it started by visiting Destin, Florida. And, uh, Hannah and I would say that we needed to buy a place down there and we could rent it out and pay the mortgage. We connected with some people at BNB Investor Academy and quickly turned to other areas to where we could increase the cash flow and increase the equity. Uh, and then that took us right to Savannah. Right now we are, uh, very successful with our short-term rental and, uh, looking to expand past and outside of Savannah.

Thank you for highlighting that journey and setting the stage. Josh, what really caught my attention about you was the way you've been able to secure prime coastal location and-

Mm-hmm

... establish a vacation brand with Mossy Tides Retreat. With that in mind, wanting to ask, what's your greatest strength when managing the high-end short-term rental?

I think it's the ability to be flexible, right? So we have to bend a little bit when it comes to actually digging in and finding the location, and we're both very determined. I think that's one of the biggest strengths is the flexibility in our time and, uh, the determination. Where do we wanna buy the rental at? What are the, uh, what are the risks?

Are you and Hannah thinking about expanding anytime soon?

Definitely. We're always looking for our