E174: The Blue Ocean Strategy for Short Term Rentals with Rachel Gainsbrugh

A doctor of pharmacy by profession, Rachel Gainsbrugh has built a significant business in the short-term rental space. Rachel has cracked the code by employing the “blue ocean” strategy. She has niched herself as a housing provider for large families, taking those hundreds of options in a neighborhood property down to one. The “red ocean” strategy denotes competition where everybody is competing in the same, crowded marketplace. However, Rachel found her way to the “blue ocean,” which is clear and clean.

Being the only one to find that niche in the “red ocean of Airbnb” is extremely brilliant as there’s no better cash-flow vehicle in the real estate space right now than Airbnb. Rachel has also tapped into another brilliant strategy working directly with insurance companies. Think about insurance money in the STR game!

Here are some power takeaways from today’s conversation:

[03:04] Rachel’s Background

[04:34] STR: The Pathway to Freedom

[07:27] Serving a niche market

[11:08] Managing short-term rental properties

[13:02] Three ways to host a property

[15:19] Destination vs. neighborhood properties

[16:45] Use cases for neighborhood properties

[20:09] The “Secret Sauce”

[37:14] Getting out of your comfort zone

[45:27] The power of having a growth mindset

Notable quotes from the Episode:

"We're niched. We're not going to be that smaller unit that a lot of people typically have access to. Our folks know us and we know them. They see us and we see them."

"If you're 30 minutes away from a hotel, a university, a hospital, you can be a short-term rental, there's travel happening in that area."

"When I allow myself to be a little bit more uncomfortable is when I grow."

Connecting with the Guest

Website: www.shorttermgems.com

Instagram: @short.term.gems

Facebook: @shorttermgems

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