Short-term Rental Startup Sonder Cuts Staff 20% (Ep481)

Short-term Rental Startup Sonder Cuts Staff 20% (Ep481)

Things are changing and evolving in the economy, and with rising rents and fluctuation in the real estate industry, it was bound to trickle down into the STR market.

This week Sonder, one of the biggest short-term rental companies in the world, announced it is cutting 20% of its workforce.

On this edition of STR Conversations, Eric and I walk you through Sonder's announcement, their first-quarter losses, and the reality of the over-leveraged master leasing model in a post-Covid market.

We discuss what we believe the forecast will be for the STR industry as the crowds return to travel with the current economic correction filtering into cost-of-living increases across the board.

Listen in to learn how to position yourself to ride the waves. We’ll offer insight into how to take advantage of the opportunities in real estate and diversify your income streams to handle any season and situation in your STR business. Plus, the two places that are always worth investing in, no matter the economy.

Would you like a sneak peek at our STR Legends LIVE event happening June 16th – 20th, 2022, at an incredible beachfront STR property in Oaxaca, Mexico? We'll be sharing stories and photos on social media, so follow Jasper on Instagram and Eric on Instagram and search the #STRLegends hashtag.

Topics Covered

What economic factors led Sonder to this point

The critical importance of scenario analysis

How STR entrepreneurs can position themselves to take on more real estate in this market

How to put yourself in a position to put OPM – other people's money – to work for your STR business

Why diversifying is the key to survival and even success in a downturn

The 2 critical area to invest in now for more stability in any economy

Resources

Sonder Restructuring to Include Layoffs, Growth Limits

Winter is Coming…But When? Tony Robbins Podcast

The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness

Steve Schwab Founder/ CEO at Casago on LinkedIn

Get Funding to Grow Your Airbnb Portfolio with Nectar (Ep444)

Join the Overnight Success Team

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Eric on Instagram

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Email team@overnightsuccess.io

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