Ep 11 - STR Secrets - The Pros and Cons of a Blended Portfolio of Short, Mid & Long Term Rentals with Jay Perry

GUEST BIO

Jay (Jaronda) Perry has been active in residential real estate for over 15 years. She bought her first house at 23, and worked for a boutique firm before starting her own property management and brokerage firm called Prosperity Homes in 2011. Prosperity Homes has a unique business model. The company signs a lease with the property owner that gives the company the right to sublet while the owner gets guaranteed rent for up to three years. Ms. Perry deeply enjoys turning houses into homes and providing clients with affordable short term housing as well as helping others learn from her mistakes. In addition to her real estate work, Ms. Perry works full-time as a computer systems engineer and is a proud Auntie to five nephews and two nieces.

HIGHLIGHTS OF THE EPISODE

02:59  Jay’s introduction

04:42  A walkthrough on how she manages 70 units plus a fulltime job.

06:39  How Jay got her 1st management client.

10:40  Jay's unique master lease management model.

12:21  What she covers with the 15%.

13:57  Managing risk.

17:03  The first time she did short term rental on a master lease.

18:48  Did her fee increase after doing short term rentals?

19:33  Design aesthetics. 

20:42  How to get high-end furniture on the cheap.

24:08  Big companies sell cheap but high-end furniture.

25:18  Why short term rentals are more profitable and stable during Covid.

26:18  Her long term rentals status.

27:21  Being committed and creative in your Airbnb business.

31:50  Key when creating or starting a side hustle

34:39  Her short term rentals systemization.

36:13  The goal.

37:03  The biggest focus.

41:05  Jay’s Why.

45:53  Number one secret for success with short term rentals

47:43  Mic drop moment.

NOTABLE QUOTES (KEY LESSONS):

“You get in life what you have the courage to ask for.” - Jay Perry

“If you want your business to look a certain way and to have a certain amount of free time, set it up that way.” - Jay Perry

CONNECTING WITH THE GUEST

Facebook: https://www.facebook.com/jaronda.perry

Website: http://prosperity-homes.com/

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