Short Term Rental Riches

Tiny homes and container homes are cool. They are unique. They are an experience to stay in. And dare I say… they are trendy?? Perhaps. Let’s just pause for a moment though and act as if trends have nothing to do with investments. Do tiny homes and container homes still beat other types of properties when it comes to your short-term rentals? They might! And if you have them already I hope that they do. This week however, I want to dive deeper into a few of the potential downsides you may experience if you are planning on building a tiny home or container home. We’ll explore: Financing (and how you may be limited) Design challenges City and permitting challenges Long term feasibility The dates are set for our next virtual event! Join us on November 13-14 as we uncover everything you need to know to find, acquire, and operate a short-term rental with passive operations!  For more info and to register, visit here. Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well. You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!

We get quite a lot of questions and the topics range. I try to lump them together and create a podcast for the ones we get asked most often but I thought it would be fun to do a rapid fire Q&A for this week’s episode. The real world is much like school was when we were growing up - we often don’t ask enough questions. And the only way we can become comfortable with what we are doing is by uncovering the answers and diving deeper. So I encourage any of you who have been listening in over the last couple years to let us know what’s on your mind! And hopefully this week we will be able to answer some of the questions you wanted to ask.Topics range from Virtual assistants to recommended software to finding the right properties :) The dates are set for our next virtual event! Join us on November 13-14 as we uncover everything you need to know to find, acquire, and operate a short-term rental with passive operations!  For more info and to register, visit here. Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well. You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!

This show is all about investing in real estate. However, there are other ways to enter the short term rental world without actually investing in real estate and that is by lease arbitrage: Leasing a property from a landlord and then sub-leasing to short-term rental guests and making the difference. Many people have made a killing doing this and while many still are, things just got a bit riskier. You may know already if you’ve listened to the podcast for a while that I also cut my teeth on this business model with a deal I signed for 10 apartments. That deal is working out really well fortunately but the future looks brim. Not just for my deal but for anyone operating short-term rentals under the lease arbitrage model. Landlords not fixing maintenance issues Landlords leasing up property to refinance (then they don’t care) City changes laws and you are in lease Rent rises go up but not necessarily STR rents  The actual returns on a lease arbitrage deal?  The dates are set for our next virtual event! Join us on November 13-14 as we uncover everything you need to know to find, acquire, and operate a short-term rental with passive operations!  For more info and to register, visit here. Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well. You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!

My team and I have managed almost 9000 reservations and almost 18,000 guests. From those guests we’ve sent and received over 140,000 messages - it’s a lot I know. While many of those were automated there are some messages that we just can’t automate; when an issue arises.  For this week we’ve broken down our top 10 questions you will receive AFTER your guest checks out. If you missed the first part of this series head back to get the top questions you will get asked BEFORE a guest makes a reservation or checks in to your property and part two: top issues that may arise during a guest’s stay. This week, we’re ending the series with the top questions that will come up AFTER a guest stays at your property. Tune in to find out what common issues arise after your guests check out.  The dates are set for our next virtual event! Join us on November 13-14 as we uncover everything you need to know to find, acquire, and operate a short-term rental with passive operations!  For more info and to register, visit here. Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well. You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!

I’m always on the hunt for new tools to make our STR operations easier and increase our profits and part of increasing our profits is accomplished by minimizing risk. Airbnb has its own ways of verifying guests but is that sufficient? And what are you doing to verify guests on other platforms that might not have a host guarantee like Airbnb does for up to $1 million. Yes, you can have deposits. Yes, you can have strict house (rental) rules. But will your guests actually follow those or abide by your rules? We started taking our security one step further with a new tool which we will break down on this week’s episode. Luckily most of our guests are fabulous but for those few that try to get around our rules, we’ve added another layer of security that I would lke to share with you this week to see if it’s something you may want to incorporate with your rentals.    Sign now will work with any software connected to Zapier.    Prevention & House Rules Check-in forms Long-term lease agreements How much does this tool cost?  Zapier integrations Email notifications   Want a crash course in just two days with everything you need to know to find, acquire and operate a short-term rental with passive operations? Good news! We have our  latest live webinar recording available!   Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well. You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!

Whoa a lot has happened in the last 2 years since we started this podcast. But one thing remains the same; STR’s are here to stay. That’s right, not even Covid-19 and the worst year for travel in our lifetimes can keep them down. In fact, STR’s are positioned better than they ever have been! There are more tools available to help us with operations, visibility of Airbnb and short-term rentals is growing exponentially, and as a real estate investor in the US our terms have never been more favorable.   So as the STR industry continues to grow exponentially so should our portfolios! This week we’l review the most important changes in the STR industry over the last two years. We’ll also review a guiding principle I’ve seen as the foundation behind every successful person I can think of including those with monstrous real estate portfolios. This week we’ll put two years of history in a nutshell and review why the opportunity to invest in STR’s has never been better. Let’s discuss Your guaranteed path to success Two years of STR history in a nutshell New Tech & Tools quick update Future outlook  Three reasons to be in STR’s If you haven’t already read it, please check out one of the most influential books I’ve ever read by Jeff Olson; The Slight Edge. It will change your life. I promise.   The dates are set for our next virtual event! Join us November 13-14 as we uncover everything you need to know to find, acquire and operate a short-term rental with passive operations! Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well. You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram and more!

It’s often hard to say no to a potential real estate deal especially when it seems to fit most of your criteria. Maybe it’s just what you think you’re looking for. It’s in the right area. It fits your budget. It would make a perfect rental. The emotions start to kick in. “I’ve got to have this one.” “Another deal like this will not come up again.” We become emotionally invested, and that’s when things start to go wrong! Not all properties and deals that we find are actually deals (although at first glance they may appear to be).  Even if the property we have our eyes on is in the right area and is one you can afford there are still several reasons why we need to say no and pass on potential opportunities. This week we will break down three questions you should ask yourself when considering a new investment as well as a few other reasons you will want to keep looking. The goal is to consistently add properties to our portfolio without all the stress - these three questions will save you from that. We’ll also break down two recent deals that I turned down and why. Looking behind the fluff (proforma numbers) The work involved The unknowns... A recent opportunity I turned down in the US A recent opportunity I turned down in Medellin, Colombia Want a crash course in just two days with everything you need to know to find, acquire and operate a short-term rental with passive operations? Good news! We have our latest live webinar recording available!   Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well. You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more

My team and I have managed almost 9000 reservations and almost 17,000 guests. From those guests we’ve sent and received over 140,000 messages - it’s a lot I know. While many of those were automated there are some messages that we just can’t automate; when an issue arises.  For this week we’ve broken down our top 8 issues, concerns, questions (call them what you want) instances where we need to communicate with our guests quickly and efficiently DURING our guests stay. If you missed the first part of this series head back to get the top questions you will get asked BEFORE a guest makes a reservation or checks in to your property and coming soon we’ll end the series with our top questions that will come up AFTER  a guest stays at your property. This week: Eight guest questions / issues that WILL come up BONUS: 5 emergency issues you’ll want to be ready for Want a crash course in just two days with everything you need to know to find, acquire and operate a short-term rental with passive operations? Good news! We have our  latest live webinar recording available!   Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well. You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram and more!

People ask me all the time “why did you get started with short-term rentals? They’re so much work, aren’t they?” The answer has always been pretty straightforward; they can make more money, much more money. And no, they don’t have to be much more work if you set them up properly. STR’s allowed me to become financially free much quicker than I could have continuing my investment journey with traditional long term rentals. They allowed me to expedite the growth of my portfolio. But how many properties does it really take to become financially free with short-term rentals? This week I want to give some insight to help answer that question. I’ll break down an example of achieving financial freedom with long term rentals with some numbers. This week we’ll discuss: What's your retirement number?  How many rentals would that take?  Comparing traditional single family long term rentals with STRs Why the USA is the BEST place to invest Setting up your gameplan Want a crash course in just two days with everything you need to know to find, acquire and operate a short-term rental with passive operations? Good news! We have our  latest live webinar recording available!   Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well.   You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram and more!

Airbnb and other OTA’s do such a good job of providing us a platform to list our property. We can put in every detail necessary! From the type of coffee maker we have to our favorite nearby restaurants to the type and size of mattresses we use in our rentals. But do people actually read this? Well… sometimes. But definitely not always. How do I know? We get asked the SAME questions all the time. Questions for which all already have an answer in my listing. So knowing that many guests do not read anything we need to be ready to answer the questions they will ask. We’ve compiled our top 15 questions guests will ask you BEFORE they book your rental. Stay tuned for this week’s episode where we will break each one down and get you thinking about your answers, or better yet, your saved responses :)    Want a crash course in just two days with everything you need to know to find, acquire and operate a short-term rental with passive operations? Good news! We have our  latest live webinar recording available!   Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well. You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram and more