By: Jon Stojan

Michael Shustek says that the travel real estate business is booming. More and more people are interested in owning a second home in a desirable vacation destination. This trend is being driven by several factors, including:

• The rise of remote work: With more people working from home, they are no longer tied to a single location. This has made it possible for them to buy a second home in a place where they love to spend time.
• The increasing popularity of vacation rentals: Vacation rentals have become a popular alternative to traditional hotels. Owning a vacation rental property can be a great way to generate income and offset the cost of your second home.
• Low-interest rates: Interest rates are currently at historic lows, making it more affordable to buy a second home.

If you’re thinking about starting a travel real estate business, there are a few things you need to know.

Michael Shustek explains that first, you need to decide what type of travel real estate business you want to start. There are a few different options, including:

• Vacation rental property management: This involves managing vacation rental properties for other people. This can be a great way to earn income without having to own any properties yourself.
• Real estate sales: You can specialize in selling vacation homes to buyers and sellers.
• Development: You can develop and sell new vacation homes.

Once you’ve decided on a business model, you need to do your research. This includes understanding the local market, the competition, and the regulations that govern vacation rentals.

You’ll also need to get the necessary licenses and insurance. The specific licenses and insurance you’ll need will vary depending on your location and business model.

Finally, you need to market your business. This includes creating a website, listing your properties on vacation rental websites, and networking with other professionals in the industry.

The travel real estate business can be a very rewarding career. It’s a great way to help people make their dreams of owning a vacation home come true. If you’re thinking about starting a travel real estate business, I encourage you to do your research and get started today.

Here are some additional tips for success in the travel real estate business:

• Build relationships: Get to know other professionals in the industry, such as real estate agents, property managers, and vacation rental companies.
• Provide excellent customer service: Your clients should feel like you’re always there for them, no matter what.
• Stay up-to-date on the latest trends: The travel real estate industry is constantly changing, so it’s important to stay up-to-date on the latest trends.
• Be patient: It takes time to build a successful travel real estate business. Don’t get discouraged if you don’t see results overnight.

With hard work and dedication, you can achieve success in the travel real estate business.

• Consider specializing in a particular niche, such as beachfront properties, ski condos, or luxury homes.
• Offer unique services, such as concierge services or property management services.
• Use social media to market your business.

Get involved in your local community.

Michael Shustek notes that the travel real estate business is a global industry. There are opportunities to buy and sell vacation properties all over the world. If you’re interested in expanding your business internationally, do your research and find a market that is a good fit for you.

The travel real estate business is a great way to combine your love of travel with your entrepreneurial spirit. If you’re looking for a rewarding career, I encourage you to consider starting a travel real estate business.