Live Let Thrive Podcast

This week on "Live Let Thrive," join Steve as he unpacks the intricacies of renewing leases in Houston, innovative ways to offload furniture, and the art of using modern payment methods like Mike Brown’s Pay It system for seamless transactions. **Furniture Finances**: Discover the ease of taking payments on furniture and why this might be a game-changer for your rental business. **A Surprising Find**: Hear the quirky story of how Steve discovered a money gun in his Airbnb and how he's making the most of this unexpected treasure. **Market Saturation Speculations**: Dive into the discussion on whether mid-term rentals are heading towards oversaturation in Dallas and what the future may hold. **Regulatory Rumblings**: Myka and Steve dissect the potential for regulation in the subject-to market and share their experiences with the approval process for short-term rentals in Grand Prairie. **Navigating Rental Listings**: Find out the strategy behind listing your place for 30+ days while hosting a 30-day stay, and why this might be beneficial for your business. **Urban Realities**: From guests encountering theft to the broader issues of crime in certain neighborhoods, the hosts tackle the tough topics that come with property management. **Seasonal Solutions**: Learn why placing a travel nurse in your 1-bedroom during the slow season could be a smart move. **Quality Control**: Get an inside look at the LLT Cleaning list and how quality assurance plays a vital role in maintaining the highest standards for your property. **Reviewing the Reviewers**: Explore the impact of leaving reviews on platforms like Yelp and how they can influence business practices, highlighted by a look at American Home Shield’s recent activities. **Industry Essentials**: Discuss the "picks and shovels" of the short-term rental service and why these tools are crucial for anyone in the share economy. **One-Stop-Shop Vision**: Imagine a hub for the share economy that integrates Airbnb, Uber, and Turo. The hosts discuss the potential and perks of such a platform. Episode 280 is rich with stories, strategies, and a deep dive into the tools that could revolutionize how you manage your rental business. Don't miss this treasure trove of insights and anecdotes that could give you the edge in the competitive world of STRs. 🎧 Join us on "Live Let Thrive" for a conversation that bridges practical advice and real-life experiences in the share economy. Your next level of hosting mastery awaits!

Join Myka and Steve on "Live Let Thrive" as they delve into the multifaceted world of real estate with the inspiring Pam Holt. From an architectural student to a savvy lawyer, Pam's journey into real estate is a masterclass in navigating life's turns and finding your niche. Building Foundations: Hear how Pam's early brush with the darker side of house flipping in Chicago spurred her to become a lawyer, laying down the law in real estate dealings to protect her investments. Home Sharing with Flair: Discover Pam's unique approach to hosting, where she opens the doors of her home to guests while trotting the globe, and find out how she's mastered the art of mid-term rentals due to zoning restrictions. Portfolio Expansion: Learn about Pam’s foray into expanding her rental repertoire beyond her personal residence, including her family’s vacation rental and her plans to establish STRs internationally. Catering to Corporates: Pam charges a premium by targeting corporate clients, tailoring her amenities and services to their specific needs. Listen in as she shares the strategy behind a $1500/night pricing, with an emphasis on proximity to conferences and business-friendly amenities. Navigating Regulations: Dive into Pam’s perspective on Chicago’s stance against short-term rentals and her suspicions that it’s tied to crime reduction efforts. Community & Councils: Engage in a crucial conversation about representation in city council meetings and the knowledge gap within the African American community, including the lingering effects of redlining. Identifying Guests: Pam emphasizes the significance of understanding your target avatar in the short-term rental space to maximize appeal and profitability. Creative Financing: With interest rates on the rise, Myka and Steve explore the benefits of subject to and owner finance strategies, offering insights for investors looking to adapt. Staging for Success: Pam shares her experience in staging homes, demonstrating that a well-presented property can significantly boost sale prices. Empowerment Summit: Get excited about Pam’s upcoming all-women virtual summit, the Homeshare Sidehustle Summit, promising wellness, strategies to overcome objections in short-term rentals, and even a pajama party! 🎁 Free Mindset Guide: And don’t miss the chance to grab Pam’s free mindset guide to becoming a short-term rental host, available on her website. www.pamholt.com Episode 279 is not just a podcast; it's a stepping stone to becoming a more informed, empowered, and successful rental host. Tune in and be transformed! Holler at Steve and Myka! Click our linktree for the latest news and updates! https://linktr.ee/liveletthrive www.liveletthrive.com

In this transformative episode, Myka & Steve take you on a journey through personal breakthroughs, market shifts, and the ever-evolving landscape of property rentals. Life-Altering Insights: Myka opens up about the profound impact a Tony Robbins event had on his life, setting the stage for an episode dedicated to growth and adaptation. ❄️ Airbnb's Winter Chill: Dive into Airbnb’s new winter release, which could mean more suspensions for listings. Listen to our take on the current state of hosts and guests, and the platform's controversial review system. 🏙️ New Jersey's Surge vs. New York's Ban: With New York’s recent Airbnb ban, New Jersey sees an uptick in bookings. We analyze this shift and what it means for regional hosts. 🏠 Unfurnished Rental Opportunities: Learn how ALE's preference for unfurnished rentals could be a hidden gem and how you can set up move-in fees to your advantage. ⚠️ Dallas Airbnb Ban Countdown: With the Dallas Airbnb ban looming, we discuss strategies and mindset adjustments for local hosts. 🛏️ Linen Logistics: Keeping up with linens is crucial for STR hosts – get tips on maintaining your inventory without losing your mind. 🔒 Security Over Surveillance: Why might a security system serve you better than a Ring camera? We discuss the benefits of going beyond basic surveillance. 🤝 Irving, TX STR Meetup: Share in the communal experience of our latest meetup, where hosts share their wins and losses, offering a candid look into the realities of STR hosting. 🚪 Revolutionizing Rentals: From renting by the room to the burgeoning power of multifamily real estate, we discuss innovative rental strategies that are changing the game. 🏘️ New Housing Policies in Sight: Examine the potential impact of the Biden-Harris administration's housing policies, including low-cost financing and HUD funding for office-to-residential conversions. Holler at Steve and Myka! Click our linktree for the latest news and updates! https://linktr.ee/liveletthrive www.liveletthrive.com

In this compelling episode of "Live Let Thrive," Myka and Steve sit down with Igor, the tech-savvy founder of iGMS, who shares his journey from developing apps to identifying and seizing opportunities in the bustling world of short-term rentals (STR). Inside the Toolbox: Discover how iGMS, born out of a desire to streamline Airbnb management, has grown into a comprehensive suite of tools for STR hosts, prioritizing user experience and exceptional customer support. App-tastic Insights: Yes, iGMS is keeping pace with the mobile world, offering applications on both iOS and Android platforms, ensuring you have the power to manage on the move. Clean Sweep: Incorporating cleaners into your workflow is a breeze with iGMS, but it doesn't stop there. Igor discusses the platform's integrations with services like Turnoverbnb and Safely, and teases upcoming features like crypto payments and seamless transitions to new property management platforms (PMPs). The Bigger Picture: In an industry where communication, pricing, and turnovers are crucial, iGMS stands out by offering direct booking websites and utilizing AI to personalize and cater to each unique business. Safety First: Addressing the ever-present worry of chargebacks, iGMS partners with Stripe to provide robust fraud protection. Adapting to Change: Igor opens up about the learning curves shaped by regulations, emphasizing the platform's adaptability—urging users to pivot when necessary, considering midterm or long-term rental strategies. Global Perspectives: With STR's global growth, iGMS views regulations as a means to stabilize rather than hinder expansion, despite the challenges faced by cities like Toronto. Google and the Future: As Google ventures into vacation rentals, Igor advises hosts to focus on building their brands, endorsing industry experts like Boostly and Mark Simpson. Hospitality's Tug of War: Discuss the subtle shift in market share from hotels to STRs post-COVID, the convenience of hotel-based events, and the potential for Airbnb to introduce a travel loyalty program. Holler at Steve and Myka! Click our linktree for the latest news and updates! https://linktr.ee/liveletthrive www.liveletthrive.com

Episode 276 of "Live Let Thrive" springs forward with a timely discussion on Daylight Savings Time and its impact on the rental industry. Join us for our next meetup in Irving and celebrate our wins for the week, including Steve's profitable domain sale. Myka breaks down the secrets to setting the right prices for your mid-term rentals, particularly for those coveted insurance clients. With Dallas facing a shrinking creative rental market, we discuss strategies for success in a limited inventory environment and emphasize the importance of understanding your business model. Steve will share insights on his roofer connection, ensuring your properties are always in top shape. Meanwhile, get inspired by Grant Cardone's journey on "Undercover Billionaire," and learn how to amplify your presence in the digital realm across platforms like Instagram, Facebook, LinkedIn, TikTok, and more. The cleanliness of your rentals is paramount – find out how to select the best cleaning services and weigh in on the debate over accommodating early check-ins. We also talk about the value of convenience and the costs of participating in a mastermind group. Dive into the strategy of investing in condos with creative financing methods like "subject to" and the benefits of getting involved in HOA boards. Discover the transformation of condos into boutique hotels and identify your target clientele to ensure your rental business thrives. Airbnb trends are shifting towards more upscale offerings – what does this mean for the classic hotel vs. Airbnb debate? And we can't ignore the implications of Dallas's new 3% rule for multifamily properties. Also, Google makes a splash at the VRWS Vacation Rental World Summit, and we ponder the ultimate question for property features: Garage or converted game room? Tune in for these topics and more, where we discuss how to stay at the peak of the rental industry game. Holler at Steve and Myka! Click our linktree for the latest news and updates! https://linktr.ee/liveletthrive www.liveletthrive.com

Episode 275 of the "Live Let Thrive" Podcast delves deep into the art and science of rental management. Join us as we recap the spook-tacular LLTU Halloween meetup and discuss the undeniable power of networking in the industry. Learn the nuances of surrounding yourself with the right people and the incredible influence it can have on your success. Holler at Steve and Myka! Click our linktree for the latest news and updates! https://linktr.ee/liveletthrive www.liveletthrive.com

🎙️ Welcome to Episode 274 of the "Live Let Thrive" Podcast 🎙️ This episode swings into the heart of the rental world with a special focus on Texas, serving up a mix of actionable insights, challenges, and stories of perseverance. ⚾ **World Series Mania**: The Texas Rangers have entered the arena! What does this mean for DFW property prices, and just how immense is baseball's crowd-pulling power? 🌐 **Diversifying Booking Channels**: Learn the ins and outs of listing on platforms like Google vacation rentals, TripAdvisor, and Whimstay, and the perks of having a direct booking channel. 📈 **Insurance Instability**: Delve into the spiraling insurance rates and why companies are distancing themselves from the DFW metroplex. 🔄 **The Arbitrage Approach**: Examine the increasing trend of people pushing for arbitrages and its implications. 🔍 **Consultant vs. Management**: Does your client truly need a management company, or is a consultant a better fit? We dissect the differences. 🏠 **Local STR Markets**: Explore the intricacies of the Allen, TX STR market and brace for the shakeup in Dallas due to new regulations and the 3% rule. 🤝 **Owner Finances and Section 8 Insights**: Unravel the secrets behind owner finance deals and the strategy of using section 8 rentals to ensure rent coverage. 🌦 **Weathering the STR Storm**: Hear tales of persistence and strategy that help navigate the shifting landscapes of short-term rentals. 💡 **W-2 Wisdom and Smart Debts**: Discover the advantages of working a W-2, acquiring smart debt, and the importance of being a true rental scientist. 👩‍💼 **Life Updates**: Join us as Myka shares about Mahogany's new professional venture. 🏞 **Peaks, Valleys, and Building Character**: Dive deep into the lessons from Elon Musk's book, the importance of embracing challenges, and the essence of competitiveness. 🤔 **Finding Your 'Why'**: Reflect on the profoundness of understanding your purpose and why it's vital in every endeavor. 🤝 **Join the Community**: Don't miss out on the details of the upcoming Live Let Thrive Meetup on 10/26/23. Episode 274 is a potent blend of industry know-how, personal anecdotes, and invaluable advice, making it a must-listen for every rental enthusiast out there. 🎧 Gear up for a thrilling ride through the dynamic world of rentals with Myka and Steve! Holler at Steve and Myka! Click our linktree for the latest news and updates! https://linktr.ee/liveletthrive www.liveletthrive.com

🎙️ Welcome to Episode 273 of the "Live Let Thrive" Podcast hosted by Myka and Steve 🎙️ In this episode, we dive deep into the complexities and opportunities that come with property management and rental strategies. 🔄 **Flipping the Script with Stevie Stacks**: Discover the tactics behind turning management clients into profitable arbitrages and the journey of transforming arbitrage clients into owned properties. What's the secret sauce? Tune in to find out! 🔑 **Behind the Lock**: Uncover the importance of having a trusted locksmith on your side and the myriad benefits it brings. 🌟 **Leadership & Growth**: Myka and Steve touch upon the essence of good leadership skills, and how they're instrumental in this industry. 💰 **Tax Tactics**: Navigate the labyrinth of tax strategies with pointers on selecting the right CPA, making the most of Quickbooks, and understanding the nuances of cost segregation. 🎯 **Purposeful Planning with Myka**: Learn about being intentional in your real estate approach, whether it's subscribing, BRRRRR strategies, owner financing, and more. 🚫 **Airbnb's Tumultuous Times**: We delve into the challenges Airbnb is currently facing - from their rapid growth concerns, trust issues, removal of cleaning fees, to hosts asking guests to clean despite charging a cleaning fee. What's going on with Airbnb? 🆕 **Diversifying Platforms**: Hear about our experience hosting on Whimstay and how it's turning into a reservation magnet. 🗣️ **The Power of Conversation**: Steve sheds light on the art of communication, emphasizing the value of mature discussions, especially with HOA presidents. 👩‍💻 **Tech Struggles of Older Hosts**: Explore the increasing demand for management support for older hosts who might find modern technology challenging. 🤝 **Client Management Nuances**: Dive into the art of managing diverse clients, from selecting the ideal ones to steering those resistant to change, even when their property is bleeding money. Episode 273 is a treasure trove of information, experiences, and wisdom for anyone in the property management and rental space. Whether you're a newbie or a seasoned pro, Myka and Steve's insights will leave you with plenty of food for thought. 🎧 Plug in, relax, and let's thrive together in the world of rentals! Holler at Steve and Myka! Click our linktree for the latest news and updates! https://linktr.ee/liveletthrive www.liveletthrive.com

An insightful deep-dive into the dynamic world of rentals and real estate, this episode navigates through the peaks and valleys of managing properties in today's ever-shifting landscape. 📉 The Downfall of Long-Term Rentals: Explore how fluctuating property tax and interest rates are impacting the viability and profitability of long-term rentals. 🏘️ Navigating Section 8 Rentals: Uncover the strategies for utilizing DHA to invest in section 8 rentals and ensuring consistent rental income. 🏛️ Legal Battles in Texas: Understand the tussle between state and city laws pertaining to rental properties in Texas. 🔍 Mid-Term Rental Misconceptions: Dive into the challenges and myths surrounding mid-term rentals, especially dealing with calendar gaps when short-term isn’t permissible. 🌎 Short-Term Rental Strategies: We're revealing the top 10 states to consider for starting a short-term rental business today, with insights into buying houses in those locales. 🛑 Airbnb’s Hefty Cancellation Charges: Analyzing the impact and rationale behind Airbnb’s policy of charging up to $1000 for cancellations. 🤝 Building a STR Community: Gain insights into the significance and strategies for constructing a supportive and resourceful community in the short-term rental space. 🐾 Pet-Friendly Protocols: Discover the perks and perils of allowing pets in your rental units and devise an optimal charging strategy. 💡 Utility Management: Learn how to implement utility caps on your rentals to manage and limit your expenditure. 📱 Tech & Business Account Tricks: Unveil the benefits of using ATT business accounts across multiple properties to secure a lower rate. 🏠 Power in Ownership and Tax-Free House Flipping: Unlock the secrets to obtaining and maintaining power through property ownership and explore strategies for tax-free house flipping. 🏢 Commercial Real Estate Woes: Explore the struggles currently facing the commercial real estate sector. ⛽ No-Gas Rentals: Discussing the feasibility and challenges of operating rentals without gas. 💰 Profits & Taxes: Master the profit-first strategy and delve into the practicality of paying your taxes on a quarterly basis. From the trials and tribulations of managing rentals to smart financial strategies and navigating regulatory hurdles, Episode 272 provides a wholesome peek into real estate endeavors that both neophytes and seasoned professionals will find valuable. Holler at Steve and Myka! Click our linktree for the latest news and updates! https://linktr.ee/liveletthrive www.liveletthrive.com

Join Myka and Steve as they entwine experiences, strategies, and heartfelt discussions into a tapestry of entrepreneurial wisdom, providing a safe space for discourse, learning, and shared journeys through the highs and lows of business. Whether you're navigating through the calm or weathering a storm, Episode 271 is crafted to equip, inspire, and walk alongside you in your business venture, ensuring you not only survive but thrive! Holler at Steve and Myka! Click our linktree for the latest news and updates! https://linktr.ee/liveletthrive www.liveletthrive.com