Short Term Rental Riches

Over the years my team has been growing slowly but surely. We’re now working regularly with people in 5 different time zones and four to five different countries! Im surprised it took me so long to implement this new tool (Slack) but we finally have! Maintaining clear transparent communication is essential to smooth operations and this has made things waaay easier...And it’s so easy to use! I want to share with you this week the main features, how it’s helped our team, and why you should definitely consider using it. What is Slack?  The main and best features: What we use it for in our STR business  Integrations with Zoom, Google Calendar, Google drive & storage What does it cost? 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, webinar, Instagram and more!

It’s interesting that while appraisals are such an important piece a loan they can vary so much depending on the appraiser. Every loan for the most part (unless it’s a hard money loan) will require an appraisal. This provides the bank or person issuing the loan with a realistic value of the property so they can feel comfortable lending on the property. But what happens when the appraisal is less than what you were expecting? What happens if there are no competitive sales to help value the subject property? How exactly are appraisals valued? We’ll answer those questions and more this week: Why most all lenders will require an appraisal What happens if the appraisal is less than the purchase price?  What methods to appraisers use to value a property?  Commercial vs. residential The problem with today’s crazy market!  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, webinar, Instagram and more!

If you’ve stayed in enough short-term rentals you’ve probably seen it. The photo of the owner in your living room space, a leftover jar of mayonnaise in the fridge, a dirty sponge under the sink, or god forbid - a used bar of soap in the bathroom! Remembrances of last guests or owners come in many forms but they have one thing in common; they should not be in our rentals! You rented the space to have privacy and perhaps a peaceful getaway, the last thing you want is an image of the prior guest or owner in “hypothetically” encumbering your space. Let’s dive a bit deeper this week:  Leftover food, should you keep ANY of it?  Bathrooms are most important Pictures of family & Personal Items Locked cabinets and spaces 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, webinar, Instagram and more!

You may have heard prior episodes where I talk about the benefits of owning your properties vs. sub-leasing them. Well, I still think owning them is the end-all goal but for many, lease arbitrage IS an easier way to get in the game.  It’s an easier way to make great (potential) cash-flow without having a lot of money up front. It’s also a great way for an investor to hold on to their capital and learn the business at the same time before investing in short-term rentals. I came to a great agreement with an owner to rent what was once a historic hotel and I want to share some details with you in this episode but also the essentials you must have in your lease if you’re going the lease arbitrage route. Last week we talked about the numbers, this week let’s talk about the lease terms Negotiating your lease arbitrage terms What you MUST HAVE to protect yourself What’s included in the lease How long is it, options to extend?  Why lease arbitrage can be a great option for many The operations - are they different? 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 here; https://restmethods.com/virtual  For more info on finding the best properties join our email list and get our free guide and more at www.restmethods.com 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. Check out our new website we created just for you. You can search all prior episodes, view episodes by category, and easily submit a request for a future topic! The new website is www.STRriches.com Find us on instagram! @RestMethods

At first glance you may think that a landlord would never want to rent you his or her rentals so that you could sub-lease them and put them on Airbnb. There are parties, increased wear and tear, and much more liability with short-term rentals right?? Isn’t there? Well, if you’ve listened to this podcast for some time you know that’s not really the case. When managed properly short-term rentals can help you earn far greater returns without all the headache. And while you can also earn better returns so could a potential landlord leasing their rentals to you. I just signed a lease for 10 apartments with one owner and want to give you some pointers on how I negotiated the lease rates. Benefits to the landlord and how to discuss them Why one tenant can solve their management problems Why the landlord might earn more leasing to you! Presentation: Two sided spreadsheets (one long term vs. short-term) 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 here; https://restmethods.com/virtual For more info on finding the best properties join our email list and get our free guide and more at www.restmethods.com If you want to learn more about Tim’s journey, email us at resilience@restmethods.com for a  free copy of the Amazon Best Selling book Tim co-authored: “Resilience, Turning Your Setback Into a Comeback.” Please make sure your subject line says “Book Copy”  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. Check out our new website we created just for you. You can search all prior episodes, view episodes by category, and easily submit a request for a future topic! The new website is www.STRriches.com Find us on instagram! @RestMethods

The short-term rental industry has come a long way since Airbnb was first advertising blow-up air mattresses for rent. While some cities have blown up much more than others, most people (in the world) have now heard of Airbnb and short-term rentals. So we need to up our game! We need to be constantly improving our listings to set ourselves apart. This week we’ll break down a few new listing photo ideas as well as 10 must have’s we have been using for a long time   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 here; https://restmethods.com/virtual  For more info on finding the best properties join our email list and get our free guide and more at www.restmethods.com If you want to learn more about Tim’s journey, email us at resilience@restmethods.com for a  free copy of the Amazon Best Selling book Tim co-authored: “Resilience, Turning Your Setback Into a Comeback.” Please make sure your subject line says “Book Copy”  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.

Airbnb has restrictions on using virtual phone lines when you set up your account. Having a single phone number is also limiting when we are scaling our portfolios! So how do we get around using one main phone number on airbnb? How do we get around Airbnb not allowing us to use a virtual phone number like google voice? I’ve got an easy tip for you. I’ve been using a business phone line for years and it has made sooo many things easier. We’ll discuss this week why you should have one too and dig in to the following:   Airbnb and virtual phone numbers A business phone line Costs?  Why it's crucial Some recommendations Check out the Virtual phone line i use Phone.com: https://www.phone.com/One I’ve found to be highly recommended but don’t personally use) Dialpad: https://www.dialpad.com/The phone line I use as a forwarding only phone number: https://www.twigby.com/ 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 here; https://restmethods.com/virtual  For more info on finding the best properties join our email list and get our free guide and more at www.restmethods.com  If you want to learn more about Tim’s journey, email us at resilience@restmethods.com for a free copy of the Amazon Best Selling book Tim co-authored: “Resilience, Turning Your Setback Into a Comeback.” Please make sure your subject line says “Book Copy”  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. Find us on instagram! @RestMethods

If we look at our businesses and processes from the perspective of “how” we are going to manage them, grow them, operate them or accomplish them, than we are committing our time directly to those tasks. For every time we ask ourselves “how” we are limiting ourselves to our own resources and time. I read a book recently that will make you think twice about that mindset and I feel obligated to share it with you! The advice will surely help you scale your real estate portfolio. Asking “Who” not “How” and the main idea  What procrastination really means “Who’s” can help you achieve anything Ensuring you have vision and clarity What happens if you don’t?  "Who Not How" Check out the book on Amazon by Dan Sullivan & Benjamin Hardy https://www.amazon.com/Who-Not-How-Accelerating-Teamwork-ebook/dp/B0867ZJ151?tag=techblast0f-20 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 here; https://restmethods.com/virtual For more info on finding the best properties join our email list and get our free guide and more at www.restmethods.com  If you want to learn more about Tim’s journey, email us at resilience@restmethods.com for a free copy of the Amazon Best Selling book Tim co-authored: “Resilience, Turning Your Setback Into a Comeback.” Please make sure your subject line says “Book Copy”  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. Find us on instagram! @RestMethods

Many things are out of our control like the government policies of different nations, the news, or the weather but when it comes to our investment decisions we can absolutely maintain control. This is one of the main reasons more people become wealthy through real estate than any other investment class. Control of our properties’ is what allows us to improve it’s value, change it’s use, improve management, list it for sale, or restructure our debt; that cannot be said for many other asset classes. We cannot control the value of most other investments and that’s why I've chosen real estate as my main investment vehicle. Lets dig deeper this week and discuss: Why more control = less risk Our ability to control real estate Why you give up control with other investment classes Creating value with real estate 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 here; https://restmethods.com/virtual  For more info on finding the best properties join our email list and get our free guide and more at www.restmethods.com  If you want to learn more about Tim’s journey, email us at resilience@restmethods.com for a free copy of the Amazon Best Selling book Tim co-authored: “Resilience, Turning Your Setback Into a Comeback.” Please make sure your subject line says “Book Copy”  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. Find us on instagram! @RestMethods

It's such an exciting thought, isn't it? Owning property in another country. It has a nice exotic ring to it. And while purchasing international real estate can provide so many benefits beyond a simple investment return, it's not necessarily the easiest thing to get into. This week we'll cover a few lessons I’ve learned and some things to look out for investing in a “foregin” place.  What to do in a brand new (foreign) market  Precautions for foreigners investing from abroad Differences in the property search  What you will likely encounter Side benefits to purchasing internationally 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 here: https://restmethods.com/virtual  For more info on finding the best properties join our email list and get our free guide and more at www.restmethods.com  If you want to learn more about Tim’s journey, email us at resilience@restmethods.com for a free copy of the Amazon Best Selling book Tim co-authored: “Resilience, Turning Your Setback Into a Comeback.” Please make sure your subject line says “Book Copy”  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. Find us on instagram! @RestMethods