Top Agent Magazine - Keith Powers

Unveiling Keith Powers: Southern California's Premier Realtor® for Short-Term Rentals

Keith Powers, once a financial advisor, has found his niche in helping people turn their investments into lucrative short-term rental (STR) properties in the vibrant southern California market. With a passion for guiding clients towards financial prosperity, Keith, along with his wife, specializes in Orange, Los Angeles, Riverside, and San Bernardino counties, targeting cities that welcome short-term rental properties with open arms.

"No matter how much they talk about wanting to save for their future, people rarely want to meet with their financial advisor," Keith chuckles. "But people love meeting with their real estate agent because they're allowed to spend money and still invest in their future—without having to put it all away in savings!"

Simplifying the STR Market

Keith provides a clear pathway for prospective buyers, simplifying the often-complex world of STR investments. He identifies two main avenues to acquire an STR property: purchasing an existing licensed STR or obtaining an STR conversion—a single-family home in a STR-friendly area that requires minimal renovations. The latter option entails furnishing the property, securing a license, and opening for business, though finding suitable conversion properties can be a daunting task.

To aid potential buyers, Keith has developed an exclusive system. Daily, he scours the Multiple Listing Service (MLS) for promising STR candidates within their designated geographic area. Once identified, a proforma profit and loss (P&L) analysis is conducted. Properties projected to generate a 10% cap rate or higher earn a spot on a password-protected web page on Keith's website. Clients who sign an exclusive representation agreement gain access to this invaluable resource, providing them with a comprehensive list of STR properties available for sale in southern California, complete with the necessary financial analyses.

Deciphering the Numbers

According to Keith, revenue, occupancy, and average daily rate numbers are the linchpin in making informed decisions within the STR market. "If you're not doing that analysis, you might have three properties in an area that look about the same," Keith explains. "They might all be three bedrooms, two-bath homes, and you're scratching your head wondering which one you should buy. That's where the P&L analysis comes in. If you can see that they each have a different projected cap rate of 8, 9, and 10 percent, it makes it pretty easy to decide to buy the one with the 10% cap rate, because it offers the greatest ROI."

Bridging the Gap for Sellers

When it comes to selling an STR property, Keith employs a data-driven approach. He prices properties based on their cap rate and prevailing market conditions, creating a detailed P&L statement with the information investors crave. To maximize exposure, Keith sends out email blasts to his extensive database of STR owners, complemented by outreach to over 140,000 SoCal Realtors®. The goal is to ensure sellers receive the best possible return on their investments.

Keith's passion for negotiation shines through as he strives to secure the best deals for his clients. The indisputable value he brings to the table is reflected in the numbers. He shares a remarkable success story, "In Anaheim, CA, I've sold almost every STR that's been sold in the last 10 years. It's not unusual for those properties to sell from $300,000 to $350,000 over the appraised value due to the proximity to Disneyland and the value of the STR permit."

In Keith Powers, southern California has found a dedicated Realtor®  who combines financial expertise with a passion for real estate. As the go-to expert for STR investments in the region, he continues to empower clients to invest wisely, bridging the gap between their financial goals and the ever-expanding world of short-term rentals.

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