680: Why Hosts Are Backing Away from Travel Sites and Building Direct Bookings w/Mark Simpson
BiggerPockets Real Estate Podcast
What Do You Think I'm Talking Like?
"I'm like a one of these chameleons where if I hang around somebody for so long, I will just tap into their accent," he says. "So basically, yeah. That's how I sound with this cold."
Most people stumble into short-term rental investing. At some point, they realize a long-term rental, mother-in-law suite, or family cabin could become a revenue-generating, passive income machine. So what do they do? They go online to all the big travel sites, upload their listing, and start hosting. After a few months or years, they buy another short-term rental, and now, they’ve got multiple properties across a few different sites. The reviews are flowing, and the revenue with it. But one day, it stops.
This happened to Rob when his listing got locked—halting his revenue. Without much of a way to repair this, Rob started thinking of how he could host with autonomy and reduce the risk as his portfolio grew. Sooner or later, Rob and today’s guest, Mark Simpson, started talking. Mark, an expert in hospitality, knew that something like this would happen. It’s why Mark has been helping hosts build their own booking sites over at Boostly.
As a short-term rental expert, Mark helps hosts build an income stream that can’t be paused, limited, or removed. Instead, he and his team give hosts everything they need to get more bookings, pay fewer fees, and keep guests coming back for more. And, as the short-term rental space grows at lightspeed, Mark argues that hosts should start building out these direct booking sites now before it’s too late.
In This Episode We Cover:
The danger of solely hosting your short-term rentals on online travel agencies
How so many hosts find themselves “held hostage” by guests and travel sites
Building your “guest avatar” and modifying your vacation rental to fit your ideal guest
Guest screening tips and how to safely rent your property on your own website
Underrated upgrades to make to your short-term rental that massively boost bookings
Effortlessly converting guests online travel stays and into direct bookings
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Stop Relying On Airbnb and VRBO and Build A Business You Control
4 Things You Need to Know Before Buying A Short-Term Rental
Boostly’s Property Management Software List
Books Mentioned in the Show:
Short-Term Rental, Long-Term Wealth by Avery Carl
The Book Direct Playbook by Mark Simpson
Connect with Mark:
Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-680
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