Building Wealth in Real Estate with Short-Term Rentals with Tanya Rooney

Tanya Rooney is a US-based real estate investor with experience in flipping properties, building a rental portfolio, and managing a short-term rental business. She is on the Self Wealth Real Estate podcast today to share her real estate investing journey and what it is like to be in short-term rentals today.    Listen now to learn more about Tanya, the US real estate market, and how short-term rentals are performing in her market in today's economy!    Key Talking Points of the Episode   00:00 Introduction 02:17 What is Tanya's background? 03:34 How did Tanya get into real estate investing? 06:30 How did Tanya get into short term rentals? 10:52 How did the performance of short term rentals change through the years? 11:31 Why is it important to know when to adjust pricing in short term rentals? 13:25 What factors will contribute to the success of your short term rental? 15:45 How does the design of a short term rental make it stand out to guests? 18:03 What factors affect the experience you're creating for your guests? 20:03 What apps can help you manage your short term rentals better? 24:10 Where can you find the resources that Tanya uses for their short term rentals? 26:08 Why is it important to have a network of professionals that can help your business? 27:47 What happened to the motel deal that fell through? 31:52 What lessons did Tanya learn from the failed motel deal? 37:26 What does it take for a short term rental property to succeed? 39:11 Why is it important to be comfortable with asking questions? 46:55 What makes Tanya really good at building relationships? 52:17 What is Tanya's least favorite deal like? 55:50 What is Tanya's favorite deal among all that she has done? 01:00:07 What lessons did Tanya learn from her favorite deal? 01:03:48 What has changed with Tanya's approach to real estate? 01:04:34 What is Tanya's advice for her younger self? 01:05:57 What is the most overlooked or overhyped real estate strategy today? 01:08:21 How can you connect with Tanya?   Quotables   "If you don't know about that market you're investing in, then you have to find someone that does know."   "There's a lot of opportunity in real estate, don't pigeonhole yourself to one thing."   "If somebody is telling you that real estate is passive, they're lying to you, but it is worth the work."   Links   Website: Tanya Rooney https://www.tanyarooney.com   Website: Tanya Rooney Referrals https://www.tanyarooney.com/referrals   Instagram: Tanya Rooney https://www.instagram.com/tanyarooneymn/