Short Term Rental Riches

I consider myself to be very fortunate. Not only because of the real estate portfolio or the wealth I’ve acquired, the freedom I’ve earned, the amazing team I work with, or because of my circle of friends around the world I can look to and lean on in a moment's notice. Those are all fantastic things to have in life but that’s not the main reason I consider myself to be so fortunate. I don’t believe my life would be the way it is today had I not first discovered my “why.” My driving force you could say. My motivation for doing what I do. The reason I decided to get into real estate in the first place. And that was the freedom to explore this great big world when and how I wanted to. To have flexibility with my life and the direction I want to take it. Fortunately, I had the opportunity to travel at an early age and discover that every place is different and then shortly after discovered that real estate was the most historically proven asset class in history and could be acquired and managed passively. I found my way and I found the avenue to get me their (real estate). All that to say… I don’t believe I would have achieved the success I have thus far without first discovering that “why.” So this week we’re going to delve into that subject. Do you know why you are listening to this podcast? Why are you interested in real estate? What is it that you truly want? How we get “stuck” Breaking the habit of being ourselves Discovering our “Why” Is it really possible Our new real estate world (environment)   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. Get a copy of my 12 proven house rules to protect your property from almost every negative situation (highly recommended)  You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!

We can have a lackluster, shabby exterior on the outside but on the inside we can have a luxurious oasis retreat. Our furniture, the colors, the lighting, and the interior of our design shapes our space and thus shapes the experience our guests have. But not all furniture items and decor are created equally and are so easy to decide on. Some are easy to find and source and take little to no thought. Like a plant or a clock on the wall for example. But one furniture item really sets the tone for your whole space. Or at least the space where you’re guests will likely spend most of their time…. And that is, the couch! After the bed, your guests are likely spending the most time on this one furniture item and so it gets the most wear and tear and is the most susceptible to damage. Not just that, but it’s also a large item! So it’s the most expensive and sets the tone for your living area. We want to make sure we don’t mess this one up. This week we’ll review a bit about this, sometimes, tricky furniture item and some tips to make sure your money is well spent.    Why the couch is the most difficult item Sizing your couch Is it stain proof?  What color should you get?  Where to find your couches   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. Get a copy of my 12 proven house rules to protect your property from almost every negative situation (highly recommended)  You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!

Dive into the world of short-term rentals and discover why guest feedback is a goldmine for property improvement. Learn how to turn constructive criticism into actionable insights that elevate guest experiences. The discussion emphasizes the importance of proactively seeking guest opinions to boost occupancy rates and returns. Don't miss tips on preventing negative reviews while using feedback to perfect your property!

Explore the untapped potential of linked listings for boosting occupancy in short-term rentals. Learn how to combine properties, like a guest house or RV, into multiple listings to cater to diverse guest needs. Discover tips on setting guest charges and using the Airbnb calendar for seamless management. The concept of 'parent' and 'child' listings is unveiled, alongside practical strategies for maximizing flexibility and enhancing your rental offerings. Get ready to take your rental game to the next level!

Real estate isn't a level playing field, and making money begins with smart buying. Expanding your network is crucial for uncovering better deals, particularly in the commercial space, which often hides golden opportunities. If you're confined to familiar circles, you might miss out on transformative ideas. Learn how to connect efficiently and proactively to open doors to new prospects and grow in this competitive market.

Discover the benefits of attracting repeat guests to boost your rental revenue without the hassle. Learn clever strategies like using digital guidebooks and quirky fridge magnets for effective marketing. Explore the risks of relying solely on platforms like Airbnb and how diversifying your bookings can safeguard your income. By fostering repeat visits, you can boost occupancy while offering guests better rates without OTA fees. Get ready to transform your business model and ensure a steady flow of guests!

The discussion dives into the common fears of short-term rental hosts about nightmare guests. It highlights effective screening strategies to minimize risks like property damage. Listeners learn about key red flags to watch for and the importance of proactive communication. Simple steps are shared to help ensure a positive hosting experience. The episode emphasizes that while bad guests are a concern, most situations can be prevented with the right precautions.

This discussion dives into hot topics around short-term rentals, tackling where to find the best investment markets. Listeners learn about transitioning long-term tenants into short-term rentals and the roles virtual assistants can play in boosting efficiency. The conversation shifts to financing options and how lenders view STR income. Plus, it highlights the beautiful and affordable Medellin, offering tips on living costs and rental regulations. Overall, it’s a treasure trove of insights for aspiring short-term rental investors.

Inflation is soaring at rates not seen since 1990, impacting everyday prices like gas and groceries. Real estate investors are sitting on untapped equity, but it’s only useful if you act on it. Discover reasons to pull out that equity and when refinancing is advantageous. The host shares a personal tale of surprising price hikes to illustrate these points. Additionally, listeners learn how to navigate current market dynamics and manage their property equity effectively in an inflationary environment.

Dive into the trendy world of tiny homes and container homes! Discover potential downsides like financing hurdles and design challenges. Learn about city permits and how they can complicate your investment. The podcast also explores the long-term feasibility of these unique rental options. If you're considering jumping into this vibrant niche, be prepared for both the charm and the complexities!