In a lively conversation, Gil Chan, a real estate investor and founder of Crafted Stays, shares his insights on enhancing direct booking experiences for short-term rentals. He discusses the power of user-friendly platforms and emphasizes the importance of early engagement with past guests through email marketing. The potential impact of Google Vacation Rentals on the market is also explored, alongside strategies for optimizing websites to boost bookings. Gil’s journey from long-term to short-term rentals highlights the challenges and rewards of entrepreneurship in this dynamic space.
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From Long-Term to Short-Term Rentals
Gil Chan started with long-term rentals, inspired by "Rich Dad Poor Dad".
He transitioned to short-term rentals during the pandemic, driven by a desire to diversify income streams beyond Airbnb.
insights INSIGHT
Short-Term Rentals: More Than Real Estate
Short-term rentals are not just real estate investments; they're businesses.
This involves diverse skills, from hospitality to data analysis, appealing to some but not all.
question_answer ANECDOTE
The Birth of Crafted Stays
Gil's anxiety over relying solely on Airbnb for income led him to direct bookings.
He built a WordPress site, then created Crafted Stays, inspired by Shopify's ease of use.
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In 'Start with Why', Simon Sinek introduces the concept of 'The Golden Circle', which consists of 'Why', 'How', and 'What'. He argues that successful leaders and organizations start with their purpose or 'Why', which inspires loyalty and trust. Sinek uses examples such as Apple, Martin Luther King Jr., and the Wright Brothers to illustrate how this approach can lead to significant influence and success. The book emphasizes the importance of leadership and purpose in inspiring others and achieving long-term success.
Rich Dad Poor Dad
What the Rich Teach Their Kids about Money - That the Poor and the Middle Class Do Not
C.P.A. Sharon L. Lechter
Robert Kiyosaki
The book tells the story of Robert Kiyosaki's two fathers: his 'poor dad,' a highly educated but fiscally poor man, and his 'rich dad,' the father of his best friend who was a successful entrepreneur. It emphasizes the importance of financial education, distinguishing between assets and liabilities, and building wealth through investing in assets such as real estate and businesses. Kiyosaki argues that a good education and a secure job are not guarantees for financial success and provides practical lessons on how to make money work for you rather than working for money[1][3][5].
In this episode of The Short Term Show, Avery introduces Gil Chan, a real estate investor who has recently launched an innovative platform for direct bookings called Crafted Stays. Gil explains the importance of having a direct booking presence and how Crafted Stays offers a user-friendly, affordable solution for hosts. We also discuss the potential impact of Google Vacation Rentals and the benefits of starting direct bookings early. Gil shares insights into his own direct booking success, emphasizing the value of email marketing and nurturing past guests.
For more information on how to get into short term rentals, read Avery’s Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties
The Short Term Show 
