Get Paid For Your Pad | Airbnb Hosting | Vacation Rentals | STR Revenue Management Crushing the STR Game in Nashville
In the same way that ‘smooth seas don’t make great sailors,’ a strong economy doesn’t produce great entrepreneurs. And for short-term rental (STR) business owners using the master lease model, the last six months have been a worst-case scenario of rough waters. So, how did Travers Xanthos manage to make it through the storm—and even add boats to his fleet?
Travers is the Founder at COMÓ, a STR company out of Nashville, Tennessee, that caters to the modern business traveler. He spent several years working in corporate sales before starting his STR business in February of 2018, and today, he has a portfolio of 30 properties. Travers is an expert in the rental arbitrage model, and he was able to pivot and not just keep his business alive but add units in the pandemic.
On this episode of Get Paid for Your Pad, Travers joins me to explain how he created a successful STR business in Nashville and what he did to keep it going through COVID-19. He discusses how he learned the master lease model and shares the strategies he used to expand his portfolio in the midst of a global pandemic. Listen in for Travers’ insight on building a team to run your business (while you travel the world) and get his advice on making your STR hosting dreams a reality.
Topics Covered
What the last six months have been like for Travers
- Revenue dropped 95% in one week
- Learned much that will serve for rest of life
How Travers was able to add units during the pandemic
- Started initiative to house medical professionals
- Focused on extended stays (up to 6 months)
- Distributed flyers at construction job sites
How Travers got into the STR master lease business
- Wanted to travel, live life on own terms
- Talked to friend with successful STR business
- Started calling list of rental property owners
- Created plan to leave 9-to-5 job in 6 months
Travers’ advice for aspiring STR business owners
- Take action
- Get educated (course, mentorship)
- Outsource as quickly as possible
The structure of Travers’ team
- Only one W-2 employee (property manager)
- Team of independent contractor cleaners
Travers’ lifestyle of frequent travel
- Lived in Bali but couldn’t grow business
- Home base in Nashville, trips all over world
Connect with Travers
Resources
Barbara Corcoran on BiggerPockets
Get Paid for Your Pad on YouTube
Email jasper@getpaidforyourpad.com or support@strlegends.com
Sponsor
Hosted on Acast. See acast.com/privacy for more information.