Vacation Rental Revolution Podcast

Successful Vacation Rental Owners, Trago & Leslie Wallace purchased and remodeled 2 vacation homes in the past 6 months bringing their portfolio to 3 STR properties. Trago shares the ups, downs and everything in between as we dive into their journey in the vacation rental world. Similar to so many success stories, here’s what I can tell you about Trago and Leslie. They are hungry, driven, up for the work, and THEY LISTEN.  I’ve worked with thousands of people who say they want to build a portfolio of Lifestyle Assets, and I can tell you that the people who get results are always the best listeners and they take massive action. Most people listen with the intent to reply, Trago & Leslie listen with the intent to understand. That understanding then turns into action, that action into results.  Go listen to their awesome story on this weeks podcast episode. Go check out their properties below: Yosemite: https://www.loveyosemitepm.com/501857/# Instagram: @ourhomeinyosemite Santa Cruz Mountains (Mount Hermon): https://www.airbnb.com/h/ourhomeinmounthermon Instagram: @ourhomeinmounthermon Wine Country (attached to their): https://www.airbnb.com/rooms/12952388 Instagram: @ourhomeinwinecountry . The Vodyssey and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets. . Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family. . For more content and expert advise, visit www.Vodyssey.com

We are heading into another busy season for most vacation rental owners.  Inventory is way below the demand in most markets so we can expect to have another record year in most areas.  However, the difference between the amount of money the top properties make and the average properties is huge.  I'm going to talk about an easy way for you to put a lot more money in your pocket starting immediately.  In my opinion, pricing your property correctly is one of the least understood and most underutilized marketing tool available to vacation rental owners. In today's episode, I talk about how you can take advantage of a major opportunity in today's short term rental market by understanding how to price your property to put the maximum amount of money into your pocket. I believe that most management companies and many people are very lazy when it comes to pricing their property correctly.  Especially those with really high occupancy levels. Join me on this episode as I share a strategy you can put in place today to instantly help you maximize the return on your Lifestyle Asset. Vodyssey was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets. Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family. For more content and expert advise, visit www.Vodyssey.com

As investors, once we find a great asset that fits our property and investment goals, the next step is to add as many of those assets to our portfolio as quickly as possible.   Often times, what holds us back is that when we began to scale up our portfolio, traditional financing options begin to dry up.   Today we are joined by Doug Perry, Director of Sales at Temple View Capital, to discuss asset based loans or DSCR (debt service coverage ratio) loans built specifically for investors as a great long term financing option for their short term rental portfolio. We cover the basics of these types of loans as well as some of the unique details of how they work and what you can do to leverage them to build your own personal portfolio.  If you are looking to scale your STR investment portfolio and you'd like to know how to use non traditional loans to turbo charge your growth, you don't want to miss this episode. To get ahold of Temple View Capital, you can visit: https://www.templeviewcap.com/vodyssey

Many people experience short bursts of excitement or curiosity around investing in vacation homes, but inevitably get stuck at some key points along the way, and before they know it, another year has gone by and they aren't where they wanted to be. This is totally avoidable if you understand the long game and have a proven process to follow. Many people get excited about our member stories where people moved quite quickly and accomplished a lot in one year, but they often don't understand what is behind the ability to do that. I hope you enjoy this episode and thank you for listening and being the best part of this show.

2021 was a crazy year for vacation rental owners.  It seems like records were set across the board.   While we don't have all the numbers from 2021, there is an over arching theme indicating that 2022 is stacking up to be very good for short term rental hosts. Experts saw demand for short term rentals in 2021 increase from the previous year by 22.4% but supply only went up by 2.5%. This is a huge supply gap. The same experts are expecting demand to increase an additional 14% in 2022 while supply continues to lag behind.   These are very good signals for those of you getting into the short term rental game or those of you doubling down to build your portfolio if you are already in the game. You don't want to miss this quick episode as I unpack the major things I see in this report. Here is a link to the report for those of you that would like to check it out.   https://www.airdna.co/blog/2022-forecast-us-short-term-rental-outlook-report

I hosted a live training last Friday to talk about the secrets we’ve learned making over 400 offers this year. I shared what’s working right now in the most competitive markets, and some hard-won wisdom on what hasn’t worked for us this year. If you’re looking to buy a vacation home in the next 6-12 months, you likely will need these secrets in order to get your offer accepted in these white hot real estate markets. I hope you enjoy this episode as you prepare to build your vacation rental portfolio. As always, thank you for listening and being the best part of this show.

Vodyssey member Eli Grelecki shares their journey of the first year of vacation rental ownership.  We talk about the ups and downs of competing to find a property in today's crazy real estate markets. We discuss the challenges and delays of completing a remodel in today's construction atmosphere.  And ultimately what the end of the road looked like when the property when live the week of Thanksgiving where they saw it all come together. This is a must listen.   I hope you enjoy this episode as much as I enjoyed the interview.  To visit the Grelecki's property on AirBnB: https://airbnb.com/h/tamaracklookout

It is no secret that the short term rental market is getting more and more saturated & it is getting harder for hosts to stand out in these crowded markets. Today I am joined by one of the nations leading brand experts, David Flanagan.  If you have listened to me long enough, it is no secret that I believe there is HUGE upside in the short term rental space.  However, you have to play the game correctly.  And one of the most important skill sets your should acquire is learning how to stand out in any market. Today we are going to talk about the importance of giving your property a sole and really telling a story with your property to stand out and deliver an amazing customer experience for your guests.   If you own a property or are thinking about purchasing one soon, you do not want to miss this episode.  As always, thank you for being the best part of this show, and I hope you enjoy today's episode.  To get in touch with David, you can find him at https://www.flanaganspeaks.com/ or get a copy of his best selling book, Rudder, on Amazon or on his website.  

Now is the time of year that most people begin to take their foot off the gas pedal.   People tend to relax and begin to procrastinate during the holiday season.  Thanksgiving, Christmas & New Year's are holiDAYS not holiMONTHS. Most people start to relax, make excuses & push things off until the first of the year.  You may even have a tendency to take it easy right now.  This is the time to accelerate your progress and gain some massive ground on the competition and the old you, without giving up the fun of the holidays.   ​​​​​​ As always, thank you for listening and being the best part of this show.

One of the biggest decisions that you have to make when purchasing a vacation rental is: What type of financing are you going to use? Today we interview Jeff Chisum from Northpoint Mortgage to help us understand the top 3 loans to help you fund your next vacation rental purchase. From traditional full doc loans, to no personal income qualifying asset based loans, there is a loan that will fit almost any person's situation. This episode is jam packed with amazing information that I am excited to share with you. As always, thank you for listening and being the best part of this show.