Ep 38 - Operating 32 STR Units from Medellin, Colombia with Tim Hubbard

GUESTS BIO

Tim Hubbard - Tim started his career in real estate as an investment broker selling multi-family and commercial properties in Northern California. He worked with a small team of five who completed cumulatively over $2 billion in transactions. He has been personally investing in real estate for the last 10 years and has since acquired a multi-million dollar portfolio comprised primarily of small multi-family properties in multiple markets. He has traveled extensively throughout the world in over 70 countries and stayed in hundreds of different short-term rental accommodations. About five years ago he realized the high returns that could be made from converting properties into furnished short-term rentals and renting them by the night. He founded and acts as CEO for Midtown Stays, a short-term rental accommodation company which has successfully accommodated over 15,000 guests with excellent reviews from all over the world. He continues to expand with the help of his teams and manages everything remotely from his home in Medellin, Colombia. He also teaches others to do the same and shows them how they can successfully increase their income 3,4, or even 8x by implementing the right strategies to convert existing long term rentals into nightly rentals through his live events and podcast. He holds a degree in International business and an MBA from the University California of Davis and is co-founder of the amazon best selling book “Resilience, turning your setback into a comeback”

HIGHLIGHTS OF THE EPISODE

03:08  Tim’s biography/introduction.

05:11  How Tim started going into short term rentals.

06:51  Tim’s journey when he started scaling his STR properties.

08:34  From buy and hold to his 1st STR lease arbitrage

10:41  What Tim’s team looks like.

12:36  Tim’s properties from 3 different markets.

13:37  Quitting his commercial broker career.

14:34  Tim’s thought process when analyzing deals.

17:33  Expanding operations to Columbia.

20:14  Tim’s goals for 2021.

22:46  How Tim ended up planning to have a laundromat business.

25:29  Running a laundromat as a separate business.

28:35  Who handles their guest communication?

29:47  A phone system?

30:58  Tips and outlook for 2021.

37:17  Where to find out more about Tim Hubbard.
38:24  Tim’s #1 secret to success with short term rentals.

NOTABLE QUOTES (KEY LESSONS):

"The legislation can make a big difference too, where the properties are." - Tim Hubbard

"In terms of ease and return, it's so much easier in the US from what I've found." - Tim Hubbard

"We have the lowest interest rate in history. If the rents are paying it then it's like you're getting a free property." - Tim Hubbard

"We always have our ups and downs but if we just keep doing a little bit everyday then before we know it we're in this cool project and things are going well." - Tim Hubbard

CONNECTING WITH THE GUESTS

Website: www.restmethods.com

Podcast: https://podcasts.apple.com/us/podcast/short-term-rental-riches/id1488518397

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