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Short Term Rental Secrets Podcast

Latest episodes

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Nov 2, 2020 • 41min

Ep 24 - Short Term Rental Horror Stories & The Lessons Learned (Halloween Special)

HOSTS BIO Michael Sjogren - Michael is a short-term rental expert and coach. He has a portfolio of STR properties across 5 states as well as an oceanfront boutique hotel. Michael brings a wealth of finance, business, and real estate experience. He is passionate about helping others create financial independence through real estate so they can pursue their passions and leave their mark on the world. Emanuele Pani - Commercial and Residential Real Estate Consultant at Signature International Real Estate. Has a degree in accounting and finance. Started his real estate journey working as maintenance until the owner decided to sell the 40 unit apartment building to Emanuele Pani. HIGHLIGHTS OF THE EPISODE 03:55  1st Halloween horror story from Mike, one of our mastermind students. 07:09  2nd Halloween horror story from Ken from Saskatoon, Canada. 10:34  3rd Halloween horror story from Holly. 17:06  Emanuele’s horror stories. 21:15  Cleaning services and systems. 23:18  Mike’s advice - Depersonalize the house 24:21  Mike’s 1st horror story. 28:24  Mike’s 2nd horror story. 33:09  Don’t feel bad about being hard on people. 33:55  Emanuele’s mystery story. 35:58  The key to success in any business. 38:37  The lesson/case in point. 39:17  Get the free 30-minute training on system breakdowns. NOTABLE QUOTES (KEY LESSONS): "If you know you might have problems, don't run away from them embrace them because if you're telling the narrative that always helps." - Emanuele Pani "It's just understanding, if something happens, having a process in place to get everything documented, who to contact, get everything processed and keep it moving." Michael Sjogren CONNECTING WITH THE HOSTS Michael Sjogren:  Facebook Group |  Facebook | Instagram | LinkedIn | Youtube Emanuele Pani: Facebook | Instagram | LinkedIn | Youtube Learn more about your ad choices. Visit megaphone.fm/adchoices
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Oct 26, 2020 • 38min

Ep 23 - How to 10X Your Rental Income; From $600 to $6,000/Month with Addison Ricci

Addison Ricci, a new real estate investor, shares his journey from video production to real estate investing. He talks about the software and technology he uses to streamline his short-term rental operations. Addison shares plans to expand from 2 units to 30 units and discusses the income difference between long-term and short-term rentals. He also shares tips on making listings stand out and enrolling his mother in the short-term rental business.
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Oct 19, 2020 • 45min

Ep 22 - Financially Free at 9 STR Units Using Creative Financing with Scott & Heidi Huggins

GUESTS BIO Scott Huggins - Buy’s apartment communities in strong economic markets in the Southeast. We have over 21 years of experience in real estate investing. We are experts in short term rentals (STR) and 4 time Airbnb Superhost and recently earned Airbnb's highest status as AirPlus designated host. Heidi Huggins - Heidi Huggins is a successful Realtor working with one of the top real estate firms in the nation. She also is working toward partnering with investors for commercial and multi-family units. After personally flipping many single-family homes and working on the residential side of the market she has learned the ins and outs of what it takes to turn a lifeless house into a beautiful place a family can enjoy and call home. Heidi also just ventured out and recently took 5 of her residential flips and turned them into a fantastic STR property. Wanting to always go to the next level, she is going into purchasing apartment buildings and other commercial properties from emerging market areas. She is striving to bring more value to renters. “People want to feel safe and feel good when they go home after a long day of work or school. I want to create that space they will love to come home to. My vision is to tell my story all over the world and become a life-changing speaker and coach. “I have to give back because so much has been given and given back to me.” HIGHLIGHTS OF THE EPISODE 03:06  Scott and Heidi’s Introduction. 04:09  Scott and Heidi’s background and how they got into short term rentals. 05:14  First deal walkthrough. 06:07  Creative financing at a high level. 08:29  Some lessons that helped them get to 9 units. 10:17  How they manage some of their property units. 11:39  How they structure their acquisition fees for their agents. 12:42  Using agents for any type of deals. 13:25  What investor relations look like for Scott and Heidi. 16:49  How they’re targeting properties to short term rent. 18:45  Scott and Heidi’s primary strategy right now. 20:44  Using a multiple offer approach to build your STR portfolio 22:10  Where do they see the short-term industry in the next couple of months from now? 23:11  What they did when COVID hit. 24:46  How they find relocation, placement agencies, and insurance agencies to work with? 26:32  How has Scott and Heidi’s operation evolved and types of systems they use? 31:08  How dispersed are their 9 units? 32:15  How do they pay their employees? 33:04  An Airbnb ninja cleaning fee tip! 35:03  Their high-end storage unit. 36:16  Doing short term rentals is more fulfilling. 38:55  Some great things that happened this year. 39:56  “We were doing everything.” 41:17  Where can we learn more about Scott and Heidi Huggins? 41:44  Their number 1 secret to success for short term rentals. 43:03  Watch out for our Halloween special soon here on the Short Term Rental Secrets! CONNECTING WITH THE GUESTS Website: https://www.stayfuncharleston.com/book  Email: Scott@stayfuncharleston.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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Oct 12, 2020 • 37min

Ep 21 - 5 Things to Consider When Buying a Short Term Rental Property

HOSTS BIO Mike Sjogren - Michael is a short-term rental expert and coach. He has a portfolio of STR properties across 5 states as well as an oceanfront boutique hotel. Michael brings a wealth of finance, business, and real estate experience. He is passionate about helping others create financial independence through the real estate so they can pursue their passions and leave their mark on the world. Emanuele Pani - Commercial and Residential Real Estate Consultant at Signature International Real Estate. Has a degree in accounting and finance. Started his real estate journey working as maintenance until the owner decided to sell the 40 unit apartment building to Emanuele Pani. HIGHLIGHTS OF THE EPISODE 04:27  This is an investment. 05:07  Why you should join our Short Term Rental Secrets Facebook group. 05:53  Run the numbers both ways. 07:40  1st thing to consider: Remember to look at it as a business. 08:29  2nd thing to consider: 9 types of travelers. 17:29  3rd thing to consider: Seasonality. 18:49  The key is just understanding. 21:01  4th thing to consider: Insuring your assets. 25:50  5th thing to consider: Regulations and HOA. 27:51  Call the town or the city that you’re planning to buy in and ask for any regulations. 31:54  Recap of the 5 things to consider when buying a Short Term Rental Property. 32:45  Final words from the hosts. 34:47  A Halloween special episode: Coming soon! NOTABLE QUOTES (KEY LESSONS): “If you want a vacation rental for your family, and that’s all you care about so the cash flow that you make when you make it is just the extra icing in top of the cake.” - Emanuele Pani “This is one of those businesses that your success is really just determined by what you’re willing and not willing to do. And if you’re willing to do anything, this business works.” - Emanuele Pani “Good investments come from making good decisions and you need good information to make those good decisions.” - Michael Sjogren “If the why is strong enough and you set it up the right way, the business will work for you.” -Michael Sjogren BOOKS MENTIONED: Rich Dad, Poor Dad - Robert Kiyosaki CONNECTING WITH THE HOSTS Michael Sjogren:  Facebook Group |  Facebook | Instagram | LinkedIn | Youtube Emanuele Pani: Facebook | Instagram | LinkedIn | Youtube Learn more about your ad choices. Visit megaphone.fm/adchoices
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Oct 5, 2020 • 48min

Ep 20 - Maximizing Your Profits Through Dynamic Pricing with PriceLabs Co-Founder Anurag Verma

GUEST BIO Anurag Verma - co-founded PriceLabs five years ago to bring revenue management automation prevalent in airlines and hotels into the vacation and short-term rental industry. He has spent six years designing and improving revenue management algorithms and systems at United Airlines in Chicago while working closely with revenue managers and data scientists within the company. He has a Ph.D. in Operations Research and loves all things numbers. HIGHLIGHTS OF THE EPISODE 03:44  Anurag’s introduction 04:55  Anurag’s background and what got him into the industry. 09:38  Is PriceLabs different from before when they got into the short term rentals? 12:03  How do you know whenever a market is very popular? 15:18  How does PriceLabs monitor if Beyonce’s in town? How does that work? 18:33  Does their data pull exclusively on short term rentals or hotel data as well? 20:09  How do they set their base rates? 23:01  Is there a way that their machine has now learned to help with pricing for long term stays? 30:31  When does it make sense to deviate from the boilerplate templates to create a custom profile? 34:55  Where do you see the industry going? 40:39  Can someone give you their data for PriceLabs to run an analysis on? 44:35  Where can people learn more about Anurag Verma, PriceLabs, and all the tools that they can offer? 45:25  Anurag’s #1 secret in being successful as an Airbnb host? NOTABLE QUOTES (KEY LESSONS): "There's plenty of video's and tutorials and not support as pretty good as to well to like, help you figure out what you should do at someplace." - Anurag Verma “Be mindful of what goes in it. If you don’t pay attention to the input, sometimes the output is gonna be wrong.” - Emanuele Pani “There are systems for streamlining a lot of things so that the last thing you’ll want to be doing is sitting in front of the computer all day changing things.” - Anurag Verma CONNECTING WITH THE GUEST Website: PriceLabs.co Learn more about your ad choices. Visit megaphone.fm/adchoices
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Sep 28, 2020 • 37min

Ep 19 - Treating your properties like a business with Alon Eitan

GUEST BIO Alon Eitan is the Director of Strategy and Business Development at Guesty, a short-term property management platform. In this role, Alon is responsible for designing Guesty's strategy and generating new business opportunities within Guesty's marketplace. Prior to this role, Alon was the Senior Business Analyst at Claltech, responsible for >$500m in transaction value. Earlier in his career, Alon served as Manager at PwC / Strategy& leading cross sector strategy, consulting prospects and M&A advisory projects. HIGHLIGHTS OF THE EPISODE 02:37  Alon’s introduction 04:13  Alon’s background and what got him into the industry. 06:03  Alon’s role in Guesty. 06:48  What allowed Guesty to grow rapidly? 08:48  What are some of the major integrations that folks should look for? 10:27  Distribute to as many channels as possible through a unified calendar. 12:31  Their focus on workflow automation. 15:04  Guesty’s focus, that they’re seeing and need in the market for the next 6 - 9 months. 17:49  A Guesty Flexible inventory that wasn’t launched because of COVID. 19:40  What we’re all optimizing for in the end. 21:08  What is RevPAR. 26:30  Does Alon see value in people responding to reviews? 28:58  Short term rentals are doing well on a global scale. 30:56  The problem with hotels and what they need to adapt. 32:34  Alon’s number 1 secret for success as a short term rental operator. NOTABLE QUOTES (KEY LESSONS): "You just really need to move fast between the models, react to the market. It's super key to this business." - Alon Eitan "You're not optimizing only for occupancy, you're not optimizing only for rate. You're optimizing for revenue." - Alon Eitan "I want to measure my customer experience because that's the lifeblood of everything. That drives the revenue." - Michael Sjogren CONNECTING WITH THE GUEST Website: https://www.guesty.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices
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Sep 21, 2020 • 53min

Ep 18 - Building Your Financial Freedom Plan With Financial Advisor & STR Host Alan Franks

GUEST BIO Alan Franks is a Certified Financial Planner (CFP) and is the owner of The Mill Financial Partners. With each of our clients we discuss building wealth through real estate, and share my experience being hesitant about being an Airbnb host until he joined Mike's Short Term Rental Secrets Mastermind. Now Alan's helped clients purchase their dream mountain homes and beach homes all while building their net worth and increasing their cash flow. HIGHLIGHTS OF THE EPISODE 04:55  Alan’s introduction 05:51  How Alan started until where he is now. 10:39  What Alan regrets not doing. 15:57  People blending work and vacation. 19:46  Alan’s experience on having a blended portfolio. 27:22  What were the fears that Alan had coming into short term rentals? 30:34  Are you seeing more people in the financial planning space, bringing on vacation rental as part of the real estate side of portfolios? 34:02  How much does it cost you to live your lifestyle right now? 42:53  Is talking about good debt easier to have a conversation with other people nowadays? 46:06  What is Alan’s no. 1 secret for success from building cash flow and wealth. 50:54  Where can people get in touch with  Alan Franks? NOTABLE QUOTES (KEY LESSONS): “Having some sort of software that helps pull everything together is really just a dynamite start to getting on the right track financially.” - Alan Franks “People spend money they don’t have on things they don’t want to impress people they don’t like.” - Will Rogers “With the right systems; maybe it’s not a couple of hours a year, maybe it’s a couple of hours a week, But I’ll take that all day.” - Michael Sjogren “The ability that we can go borrow somebody else’s money to buy an asset that we otherwise could not own by ourselves is really awesome.” - Alan Franks “I don’t think we’re ever gonna get back into the long term rental game. I think it’s gonna be short term rentals from here on out.” - Alan Franks “If you really want to be financially free, just do this thing and it will happen very quickly.” - Michael Sjogren CONNECTING WITH THE GUEST Website: https://www.themillfp.com/ Podcast: https://open.spotify.com/show/4d4R29uErSgGBd001mpDY6 Learn more about your ad choices. Visit megaphone.fm/adchoices
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Sep 14, 2020 • 58min

Ep 17 - STR Secrets - Automation & Optimizing Your Guest Experience with Hostfully Co-Founders Margot Schmorak & David Jacoby

GUEST BIO "MARGOT SCHMORAK, CO-FOUNDER + CEO  Margot is CEO and Co-Founder of Hostfully. She has spent her career working on community-driven products that help businesses and entrepreneurs get closer to their customers. Prior to Hostfully, Margot worked at Apple, leading marketing initiatives for the first iPhone Developer Program before taking the reins at ServiceSource (NASDAQ: SREV) as VP of Marketing and Strategy. In her free time, Margot is an avid traveler, having visted Yunnan (China), Vinales (Cuba) and Paris. Margot holds an MBA from the University of Michigan Ross School of Business and a BA in economics from Vassar College. She lives in San Francisco with her husband and three young children. DAVID JACOBY, CO-FOUNDER + PRESIDENT David is President and Co-Founder of Hostfully. A proud Airbnb Superhost living in San Francisco, he loves welcoming guests from around the world and showing his kids the transformative experience of sharing your home with others. As a traveler, he’s couch surfed around the world, including Cairo, Lima, Jerusalem, Hanoi, and Kigali. Prior to Hostfully, David was COO at WellCall, Inc., a health coaching and corporate wellness program company, where he grew the business from its infancy until its acquisition by Health Advocate in 2012. David graduated from the Wharton School of Business."   HIGHLIGHTS OF THE EPISODE 04:43  Margot’s introduction 06:20  David’s introduction 12:36  How their website/product works. 15:10  The struggles with using guide books manually. 16:58  Them going with the new web design usability practices. 18:15  What you can expect when you go to their website. 19:33  Put something in that helps you provide the support system for you. 22:25  Dedicated to being a platform product. 23:57  Owning on what you’re good at. 25:38  How the ecosystem has evolved and their Goal. 27:59  Common questions that they usually get from their guidebook. 30:03  Their guidebook breakdown. 31:30  Things that were not important before that are important now. 33:50  Corona Virus accelerated the industry even more recently. 38:14  No one graduates with the degree in vacation rental management from college. 39:15  Hostfully’s biggest focus right now. 42:00  The failed vision. 46:43  The software’s automated templates and triggers. 49:14  Giving customers a reason to come back. 49:36  Gift certificate ideas for Airbnb’s. 51:48  2 FREE months use of any guide book subscription. Use the code: strsecrets 52:21  What is their best secret for success in Short Term Rentals? 53:46  Surprise tip from Margot Schmorak. NOTABLE QUOTES (KEY LESSONS): "Speed people up by 6 months at getting successful in this industry, especially for newcomers, is much more meaningful." - Margot Schmorak  "The most important thing that successful people say is the word, No." Warren Buffett "The more you can feel and look local the more trust you're going to inspire with your guest and I think the more likely, people will be able to book with you." -Margot Schmorak CONNECTING WITH THE GUEST Website: https://www.hostfully.com/ Margot's Email: margot@hostfully.com David's Email: david@hostfully.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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Sep 7, 2020 • 42min

Ep 16 - STR Secrets - Why Owning a Real Estate [Business] Will Get You Rich

HOSTS BIO Mike Sjogren - Michael is a short-term rental expert and coach. He has a portfolio of STR properties across 5 states as well as an oceanfront boutique hotel. Michael brings a wealth of finance, business and real estate experience. He is passionate about helping others create financial independence through real estate so they can pursue their passions and leave their mark on the world. Emanuele Pani - Commercial and Residential Real Estate Consultant at Signature International Real Estate. Has a degree in accounting and finance. Started his real estate journey working as maintenance until the owner decided to sell the 40 unit apartment building to Emanuele Pani. HIGHLIGHTS OF THE EPISODE 04:32  The misconception that you get rich by buying Real Estate. 08:24  Ways that short term rental operators maximize their income from their business. 11:08  How to maximize your income and how do you decrease your expenses. 15:40  Maximizing fees by doing extra services 18:42  Expense side of the business. 21:19  No more buying a few amounts of soap and laundry detergent from Costco. 24:18  How commercial real estate is valued. 26:31  You’re gonna make more money on short term rentals than long term rentals. 27:41  Vacation rentals as an ATM. 29:58  There’s so much push for people in the real estate space. 31:26  The power of compounding and understanding. 33:26  Build a business the right way. 34:17  People are so trained to be worker bees. 36:15  What kind of systems do you need for a short term rental business? 37:50  How Mike changed E’s life. NOTABLE QUOTES (KEY LESSONS): “Maximizing fees: The more you see it, the more possibilities you have” - Emanuele Pani "Learning a skill set on how to increase people's income, profit and returns. That is one of the most valuable skill sets that you can learn in business, Period." - Michael Sjogren "You're gonna make so much more money on the short term rental side that would allow you to cash flow a lot more." - Emanuele Pani "Getting rich, you have to get creative and leverage other people's resources" - Michael Sjogren BOOKS MENTIONED IN THIS SHOW The Millionaire Fastlane by MJ DeMarco CONNECTING WITH THE HOSTS Michael Sjogren:  Facebook Group |  Facebook | Instagram | LinkedIn | Youtube Emanuele Pani: Facebook | Instagram | LinkedIn | Youtube Learn more about your ad choices. Visit megaphone.fm/adchoices
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Aug 31, 2020 • 52min

Ep 15 - STR Secrets - 0 - 23 STR Listings in 6 Months with Austin Linney

GUEST BIO Austin Linney is a former service industry veteran of 20+ years, turned serial entrepreneur, real estate investor, mindset and business coach. He is the host of the weekly podcast, Construct Your Life With Austin Linney. When he’s not building businesses, growing his expansive network of who’s who in the leading industries, providing massive value each week with his podcast or helping his coaching clients achieve a breakthrough, he can be found training for and competing in Ironman Triathlons across the country. If you're an entrepreneur, wanting to start a business, wanting to improve your mindset through coaching or you just want to have a heart to heart conversation of how to overcome the odds, Austin can help you get where you want to go. HIGHLIGHTS OF THE EPISODE 03:32  Austin’s introduction 05:16  How he started on Airbnb. 08:39  Austin’s background in hospitality. 12:26  Something that needs to be made very clear. 15:40  I’m a HALO jumper. 16:26  The point where Austin took short term rentals to the next level. 18:32  Which model is Austin using to find properties? 21:47  What happens when you live in scarcity. 23:24  What were the challenges that Austin had to face in order to be successful. 26:44  The secret that nobody talks about. 30:47  What should have happened. 32:37  Not doing your habits, defaults you to your systems. 36:23  Set the tone from the moment they book. 39:37  I lied to myself. 42:53  Anybody can do this! Short term rental business 43:18  Austin’s “Greatest story in the world!” 49:31  What is Austin’s number 1 best secret for success in short term rentals? 50:54  Where can people find Austin Linney? NOTABLE QUOTES (KEY LESSONS): Make sure that you're operating in the highest form of your business. - Austin Linney Highlight your strengths and move on with your day and surround yourself with the right amount of people to grow the business. - Austin Linney When you live in scarcity, the universe closes every door available to you because you're telling yourself that you don't matter and what you want doesn't exist - Austin Linney Sometimes you have to put your business through the stress test to see where the boat is leaking. - Austin Linney Understand that what you're providing for them is memories for their family. It's so much bigger than 4 walls and a bed. - Austin Linney By you working on your weaknesses, you're only strengthening shitty weaknesses. - Casey Grey CONNECTING WITH THE GUEST Podcast: https://linktr.ee/ConstructYourLifePodcast Instagram: https://www.instagram.com/constructyourlifepodcast/ Facebook: https://www.facebook.com/austin.linney LinkedIn: https://bit.ly/32HK1gm Learn more about your ad choices. Visit megaphone.fm/adchoices

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