Get Paid For Your Pad | Airbnb Hosting | Vacation Rentals | STR Revenue Management

In the competitive and fast-paced world of short-term rentals, partnering with investors can be a game-changer for scaling your business. Partnering with investors is a great way to build up equity without getting a mortgage or investing your own funds. However, successfully finding and partnering with the right investors can be daunting. Josh Kristoff and his team at Nomad Capital Ventures have successfully scaled to 50+ units through partnerships. Josh is the Managing Partner of Nomad Capital Ventures, a real estate and property management company out of Jacksonville, Florida. He's participated in our Legends Mastermind and is currently in our Rising Stars Mastermind.  In this "Get Paid For Your Pad" episode, Josh joins me to explore scaling a short-term rental (STR) business to 50+ units through partnerships. He'll share his expertise and his team's experiences in understanding the market, finding investors to partner with, and why setting clear goals is paramount. Plus, the most important thing investors look for in a partnership. Listen in to hear Josh's experience with multichannel bookings (the good and the bad), the most critical factor in building the investor-operator relationship, and how you can get started scaling your STR business through partnerships. Topics Covered Josh shares what Nomad Capital Ventures does and how they successfully run four complementary businesses (with 7 kids in the mix)How Josh and his team use their network to find investor partnershipsJosh shares his journey in learning about property managementWhy Nomad Capital structures their deals as a 506 BJosh shares the importance of having a clear understanding of your goals before entering the short-term rental businessThe importance of conducting sensitivity analysis against projections to ensure protection for both sidesThe most crucial factor for working with investorsWhy communication is vital to building investor/operator relationships and trustWhat a relationship entails from an SEC standpointThe delicate dance of multichannel bookings: Jason shares the benefits (and drawbacks)Connect with Josh KristoffJosh KristoffNomad Capital VenturesNomad Hospitality on InstagramResources Get Paid For Your Pad on YouTubeJasper on InstagramSubscribe to GPFYP on Apple Podcasts FREE Airbnb Starter GuideSTR Profit AcademyOvernight SuccessEmail team@overnightsuccess.ioSponsor Legends X STR Accelerator Hosted on Acast. See acast.com/privacy for more information.

Due to inflation ​​in the current economic environment, investors are struggling to find a good return on their investments, with many investments offering a low rate of return or even resulting in a loss of money.So, we're seeing a shift in investor conversations, with high-wealth individuals more interested in parking their money in the right investments with the right people and getting involved in something exciting.If you have a unique vision, experience aiming vision, and you're solving a unique problem in the space, many investors want to get involved in short-term rentals.So, how do you start raising money for your Airbnb business, brand, and vision?Freewyld has raised $2.2 million from investors with a commitment of an additional $2 million for the expansion of one of our hotels and the goal of putting together $20 million worth of funding to acquire more projects this year.We have a vision and are focused on sharing what we're learning with you as we go.On this edition of STR Conversations, Eric and I are walking you through the most common questions people have when they first seek investors for the STR business.We'll discuss the three fundraising stages for your company, including friends and family, seed funding, and Series A funding, and dive deep into where to find your investors, the importance of building a network (and creating authority around it), and "karma capitalism."Listen in to learn why investors need startups as much as startups need investors and how you can offer something valuable and exciting to a potential investor.We're officially opening the Rising Stars Mastermind, a virtual mastermind group for short-term rental operators focused on growing genuine hospitality brands, acquiring real estate, building real teams and systems, and scaling their businesses. Click Here to learn more and set up a call.Topics CoveredThe unique advantages of investing in short-term rentals: tax benefits, appreciation, and increased revenue through hospitality brandingThe trend of high-wealth individuals looking to get involved in something excitingWhy your network is your net worth: the actual value and importance of ORGANICALLY networking with other entrepreneurs and investors and sharing YOUR real visionThe difference between seed capital and acquisition capital and how investors approach these two types of investments with different mindsets and risk tolerancesThe 3 things to focus on to build a successful short-term rental brandLaunching the Rising Stars MastermindResourcesLearn More about the Rising Stars MastermindGet Paid for Your Pad Email ListSubscribe to GPFYP on Apple PodcastsSTR Profit AcademyOvernight SuccessEmail team@overnightsuccess.ioSponsor STR Legends Mastermind Hosted on Acast. See acast.com/privacy for more information.

Many of the short-term rental hosts in our student groups reported a slowdown in bookings at the start of 2023. But that trend did not apply to Kimone Campbell. In fact, she had a record-breaking month in January! What is she doing to drive more bookings? Kimone is Founder and CEO of Adasa Properties, Orlando Luxury Stays and Kissimmee Luxury Stays. Kimone bought her first two short-term rental properties in March of 2020 and has expanded to a portfolio of 13 units generating $500K in revenue in just three years. On this episode of Get Paid for Your Pad, Kimone joins me to explain how a real estate coaching program inspired her interest in short-term rentals and where she gets the drive to take action fast in her Airbnb business. Kimone discusses how AI tools empower STR hosts to up our marketing game, describing how she’s using ChatGPT to create marketing campaigns for past guests and generate social media content quickly. Listen in for Kimone’s advice to up-and-coming Airbnb hosts around investing in coaching and learn how to leverage new technology to drive more bookings in your STR business! Topics CoveredHow a coaching program in real estate investment inspired Kimone to start a STR businessWhat working on a cruise ship taught Kimone about customer service and managing teamsHow Kimone’s business has grown to 13 properties and $500K in revenue in just 3 yearsHow Kimone is using ChatGPT to write email marketing campaigns for past guestsThe challenge Airbnb hosts face in creating consistent content and how we might use AI to overcome itHow to Leverage ChatGPT to plan a monthly social media calendar and write daily postsHow to make the content generated by artificial intelligence unique to your personalityHow ChatGPT empowers Airbnb hosts to up our game when it comes to marketingHow Kimone is establishing herself as an expert in the Florida market through Facebook groupsWhere Kimone gets the drive to implement new information fast in her STR businessKimone’s advice to up-and-coming STR hosts around joining networks and investing in coachingWhy Kimone would acquire more properties faster if she could go back to her first year in businessConnect with Kimone Orlando Luxury StaysOrlando Luxury Stays on FacebookOrlando Luxury Stays on InstagramOrlando Luxury Stays on LinkedInKimone on LinkedIn For full episode show notes visit: https://getpaidforyourpad.com/podcast/slowdown-this-airbnb-host-is-seeing-record-breaking-revenues-ep552/ Hosted on Acast. See acast.com/privacy for more information.

As more people look to scale their short-term rental business, competition in the industry has increased. Simply relying on personal networks or word of mouth is no longer enough to attract properties. Hosts must find unique ways to stand out, grow, and scale. And you don't need a massive audience, but you do need an engaged audience.If you are struggling to attract properties and stand out in a sea of competitors, there is ONE strategy you can implement right now to succeed. In this episode of STR Conversations, you will learn how to become an authority in your market, focus on a niche, build partnerships, and develop a growth plan.Eric and I discuss the marketing triad for short-term rental properties, which consists of three components: free sources, paid traffic, and partnerships and the importance of a solid plan and consistency. Listen in to discover how to establish yourself as THE authority in your market area and build your brand with the proven property abundance plan.  Plus, we'll reveal the exact strategy we used to help one of our Legends X students dominate the popular vacation destination of Kelowna and show you how you can do the same in your market area. We'll touch on the challenges of paid traffic and how to use it most effectively as a part of your [long-term] strategy. Tune in to learn how to take your short-term rental business to the next level by bringing value through who you are and WHAT YOU do, so when people think of Airbnb, YOU and your brand are top of mind! Sign up NOW to get our FREE trainings as they are released, and if you missed "More Listings, Higher Profits," you can get the replay by joining the Airbnb Profit Club Facebook Group. And if you want even MORE support implementing the marketing triad, join us in Legends X. Topics CoveredThe #1 way to become the expert in your marketplace (and what comes second)Coca Colas TOP OF MIND Marketing planEven the most successful people battle imposter syndrome (including Adele, Mike Tyson, and Jasper Rivers); how they move through itThe property and partner avatarConsistency is key: how to show up as the authority in your space and bring value EVERY DAYThe importance of [consistent] branding across your marketing channelsHow to choose the marketing channels that will work for YOUThe challenges of investing in paid traffic, how make it successful, and why it's a long-term strategy (yes—there's an art to it)Using ChatGPT for inspiration and content creationWhy shiny objects syndrome is the path to going brokeWhy it's vital to home in on YOUR ideal property avatar ResourcesThe War of Art by Steven PressfieldJab, Jab, Jab, Right Hook: How to Tell Your Story in a Noisy Social World by Gary VaynerchukJoin the Airbnb Profit Club Facebook GroupEmail us to find out how to join the Rising Star MastermindSponsor Legends X STR Accelerator Hosted on Acast. See acast.com/privacy for more information.

Real estate has proven to be an incredibly powerful investment over time, with values consistently increasing.However, with the current economic climate, including rising interest rates and inflation, impacting real estate pricing, investors may be hesitant to enter the market.It's understandable to question whether it's a risky time to invest in property.But is it still a good time to get a mortgage and invest in real estate, even at current prices?The answer is it all depends. So, what exactly does it depend on?Jason Hartman® is the CEO of Empowered Investor and Real Estate Tools, a software company in the real estate space. As an Airbnb host and short-term rental expert, he has successfully guided numerous clients in purchasing properties in a single market. Jason's Complete Solution for Real Estate Investors™ offers a comprehensive system that equips investors with education, research, resources, and technology to fulfill all their income property investment needs.According to Jason, "Income property is the most historically proven asset class in the world. With income property, we get to constantly renegotiate our agreement, making it a reliable long-term investment. "Today on “Get Paid For Your Pad,” Jason joins me to delve deep into the complexities of the real estate market and the different factors that can impact investment outcomes, including how inflation and interest rates are affecting the current market.We’ll take a look at the present state of the real estate industry, and Jason will provide his expert insight into what he is seeing in terms of prices, sales, and other market indicators.Listen in to learn how investors can use historical trends to anticipate future changes to make informed decisions and the importance of being proactive in managing your real estate investments. Plus, Jason will share the most important chart to watch when investing in real estate and his predictions on what to expect in the market in the future.Topics CoveredHow the COVID era interest rates made a lot of people rich (and it’s still going on)How you can still get paid to borrow money on the real estate marketWhy it’s important to understand the three types of real estate markets: linear markets, cyclical markets, and hybrid marketsCyclical markets vs. Linear Markets: understanding different types of real estate markets and which are the best to invest inHow to use historical trends as a guide to make informed decisions about real estate investmentsHow understanding historical trends can help investors anticipate future changesThe three reasons Jason believes we will NOT have another real estate crashLearn about the first-time phenomenon that is creating an incredible amount of wealth for homeowners (see the chart on YouTube or Spotify)Why investing should be oriented towards yield (and appreciation should be viewed as the icing on the cake)The most important chart to watch when investing in real estateJason’s predictions for the real estate marketThe reliability and long-term potential of income propertyFor full episode show notes visit: https://getpaidforyourpad.com/podcast/the-most-important-chart-to-watch-in-real-estate-in-2023-ep550/ Hosted on Acast. See acast.com/privacy for more information.

ChatGPT AI (artificial intelligence) has more than 100 million users within the first two months of its launch and more than 13 million daily visitors making it the fastest-growing consumer application in history.But often, when these new tools come out, people sit on the sidelines, waiting to determine if it's right for them.Recently, everywhere I've turned, it seems every business owner I've spoken to, or entrepreneur or forward thinker, has been talking about this tool and how they're introducing it to their everyday life, but also trying to figure out how the use of the technology could be beneficial and how they could integrate it into their business.The truth is AI isn't going anywhere. So, how can you learn to harness this powerful tool for more productivity to save time in your STR business?On this episode of STR conversations, Eric and I are talking about the super sophisticated and powerful chatbot that can learn from what you're telling it, Chat GPT.We'll discuss what it REALLY is, what it isn't, and what it can do for you.Listen in as we give listeners a look at some of the best uses for the tool in the Airbnb space. We'll walk you through how some users in the STR space are using it for everything from content creation—you can create a month's worth of content in just a few hours—to optimizing their Airbnb listings in a way that will get people excited to book even if you are not a great writer.Plus, how Chat GPT can help you use YOUR current Airbnb reviews to hone in on your guest avatar and write better captions on social and for your listing pictures.This tool changes everything, and early adopters will reap the biggest benefits. If you want to watch our training on Chat GPT, join the Airbnb Profit Club Facebook Group. If you wish to have MORE support as you get plugged into this, we will be doing more AI training with experts and service providers in our Rising Star Mastermind. Interested? Reach out, and we'll send you the info on joining the group.Topics CoveredConsistency is key: unlocking the power of AI to tell your brand storyFrom a two-paragraph caption for Instagram to a 500-word blog post: how Chat GPT solves the problem of writing content for ALL the social and communication channelsHow some hosts are using Chat GPT to generate a month's worth of content in just a couple of hoursHow AI and your reviews can help you hone in on and attract your ideal guest avatar for more bookingsHow to find out more about the Rising Star Mastermind group to learn more about AI and its various uses in the STR industryResourcesEmail us to find out how to join the Rising Star MastermindJoin the Airbnb Profit Club Facebook GroupBe a Part of the Next Class of Legends X STR AcceleratorFREE Airbnb Starter GuideSubscribe to GPFYP on Apple PodcastsGet Paid for Your Pad Email ListEmail jasper@getpaidforyourpad.comSponsorLegends X STR Accelerator Hosted on Acast. See acast.com/privacy for more information.

I lived in Barcelona for two years. One reason why Spain is a great place to visit is its affordability, as highlighted by a three-course meal with wine for only 10 euros. But that's not the only thing that makes Spain a wonderful country. Its diverse culture, rich history, and breathtaking landscapes are just some of the many reasons to explore this beautiful country. However, beyond all that, what truly makes Spain a special place is its people. Today on "Get Paid for Your Pad," I have two guests, Juanccho Betancor and JuanJo Bande, from Spain. Juanccho Betancor is a Legends X graduate and successful short-term rental host. He began his journey by renting out several properties and later transitioned to Airbnb. In addition to hosting, Juan is passionate about analyzing investments in the space and sharing his experiences with others. He even has his own YouTube channel where he talks about all things short-term rental. JuanJo Bande is an architect who is passionate about the short-term rental industry. He works on developing various projects that cater to both tourism and residential areas. Apart from that, he creates valuable content in Spanish about the short-term rental space on YouTube. He also manages a few professional chat groups where like-minded people in the Spanish-speaking world can share their knowledge and experiences. They join me to discuss their experiences in the short-term rental industry, what they've learned from building their businesses, and their insights on why Spain is an amazing country to visit. Listen in to hear how they've adapted to serve the post covid digital nomads, the lack of quality content on the short-term rental space in Spanish, and how they aim to provide education and quality content to the Spanish-speaking audience. Plus, they share what they would do differently if they were starting their business today and their predictions for the future of the STR industry.Topics Covered How Juan and Paco got started in the STR industryHow to be on the beach in Panama when you have 28 units back in SpainHow they invested in themselves to grow their businessesThe most significant things they've learned from Jasper, Get Paid Your Pad, and Legends XHow mindset makes a big difference in successWhat does it take in 2023 to be successful as an STR hostWhat the STR industry looks like in the futureWhy it's best to look beyond the short-term profits and instead consider long-term profitability For full episode show notes visit: https://getpaidforyourpad.com/podcast/work-remotely-from-a-cave-home-on-a-volcano-ep548/ Hosted on Acast. See acast.com/privacy for more information.

Airbnb's Q4 2022 earnings report showed a 35% revenue growth over the past six months, indicating a strong travel industry recovery after COVID. The numbers surprised investors and disproved claims of an "Airbnbust." Only 21% of property managers on the Transparent platform saw fewer bookings out of over 275,000 short-term rental listings worldwide. Bottom Line: there is NO BNBbust! Although there's currently no sign of a BNBbust, reduced demand on the Airbnb platform is pushing hosts to explore new ways to build genuine hospitality brands. So, how can you keep up with the post-Covid market, adapt to changing customer needs, and improve your business strategies to focus on guest acquisition and retention? In this episode of STR conversations, Eric and I delve into Airbnb's Q4 2022 earnings report, uncover the current realities of the short-term rental industry, and explore the pressing need for hosts to cater to the informed traveler of today. Tune in to gain valuable insight on how to seize the opportunities presented by the current market challenges. We'll share a few of the companies we're closely monitoring as we build and expand the Freewyld brand, why we consider them important models in the industry and the critical element that ties them all together. Do you want to learn how to Optimize your Airbnb listing with ChatGPT? Register now for the FREE training Wednesday, February 22, at 1 pm Pacific / 4 pm Eastern. If you missed our first training, "The BNBbust is BS," you can get the replay by joining the Airbnb Profit Club on Facebook. Topics Covered What the numbers don't show: our take on what's really happening behind the scenes in the STR industryWhy the short-term rental industry isn't experiencing a bust, it's simply maturingThe value of visionHow developing a unique brand will put you in the driver's seat of demandThe value of joining Legends XResourcesRegister for the FREE Weekly Training(s)Join the Airbnb Profit Club on FacebookBe a Part of the Next Class of Legends X STR AcceleratorGetawayAutoCampAirDNAAvantStay TransparentCrunchbase  FREE Airbnb Starter GuideSubscribe to GPFYP on Apple PodcastsGet Paid for Your Pad Email ListEmail jasper@getpaidforyourpad.comSponsor Legends X STR Accelerator Hosted on Acast. See acast.com/privacy for more information.

Not only is sustainability important from an environmental perspective, but it’s also a growing trend in the travel industry. According to studies done by Booking.com and Expedia, about 80% of people consider the values of a property to be a factor in their booking decision. When booking, travelers are beginning to research whether properties are using green cleaning products, reducing single-use plastic, and using energy-efficient appliances and lighting. And sustainability is not just a trend; it’s a critical aspect of our future, and now is the time for short-term rental hosts to begin embracing the concept of becoming more sustainable.But we all know hosts generally don’t have much time to spare or funds for upgrades‌. So, what can short-term rental hosts do to become more sustainable without investing a lot of time and money?Vanessa de Souza Lage is the Founder & CEO of Sustonica, the 1st sustainability recognition specifically for short-term rentals. With their standard for vacation homes based on 7 of the United Nations Sustainable Development Goals, Sustonica is committed to helping you prove to travelers, owners, employees, and investors that you’re committed to environmental sustainability.Today on “Get Paid For Your Pad,” Vanessa joins me to share some easy steps STR hosts can take to make their properties more eco-friendly. She’ll share how you can become a more sustainably focused host in just 15 minutes without emptying your wallet. We discuss the 40 points outlined by Sustonica, which you can use to make your propertie(s) more environmentally friendly, along with some technological solutions available to help guests track their energy usage while staying at your property. Listen in to learn how you can stand out from the competition and attract environmentally conscious travelers by highlighting your commitment to sustainability on your website while having a real impact on the environment. Topics Covered The importance of sustainability in the short-term rental industry.Detailed strategies and cost-effective ways hosts can become more sustainableThe role of hosts in educating their guests on sustainabilityHow to qualify for the badges Sustonica offers for meeting sustainability criteriaThe proven marketing benefits of embracing sustainability for short-term rental hostsConnect with VanessaVanessa de Souza LageSustonicaResources Take the Sustainability CertificationGet Paid For Your Pad on YouTubeLegends X STR AcceleratorGet Paid for Your Pad Email ListSubscribe to GPFYP on Apple Podcasts FREE Airbnb Starter GuideOvernight SuccessEmail team@overnightsuccess.io Hosted on Acast. See acast.com/privacy for more information.

"We're delivering what a host needs, not what a host wants." Being a short-term rental host can be a demanding and stressful experience. Growth without a plan can cause you to work around the clock, sacrificing your evenings, weekends, and even holidays to attend to customer service and maintenance issues. With all of that going on, it's easy to get bogged down, become a hectic host, AND lose sight of the joys of success. But there is another way. So, how can you find a better work-life balance while setting and achieving the goals that will help you build a sustainable short-term rental brand you can be proud of? On this episode of STR conversations, Eric and I are celebrating the 2nd anniversary of our Legends X program by sharing our journey and unveiling the results we've achieved as we've led nearly 300 hosts through the program. We'll give listeners a look at the driving force behind our mission to transform STR companies into thriving hospitality empires by packing years of wisdom and experience into a transformative 90-day program to ensure our students achieve REAL, tangible results. Listen in to discover the secret to Legends X's success: our unwavering commitment to delivering exactly what hosts need to succeed rather than what they want.We'll share a behind-the-scenes look at how one of our students went from a hectic host to spending months exploring the world's greatest surfing spots. Plus, we're excited to announce new FREE trainings every Wednesday for our listeners. Beginning with the first one, called "The BNBbust is BS," launching Wednesday, February 15th. Sign up now to secure your spot. And if you want to join our next class of Legends X, click here! Topics Covered The impact of the COVID-19 pandemic on the short-term rental industryThe importance of having a clear vision and systems in place in a short-term rental businessUnlocking the power of mindset transformation through accountable actionThe biggest impact our Legends X course has had on the lives of the STR hosts who've completed itWhy it's essential to turn away from hectic host practices in order to scaleHow Legends X helps hosts implement years of learning in 90-days for faster results ResourcesSign Up for the FREE TrainingBe a Part of the Next Class of Legends X STR AcceleratorFREE Airbnb Starter GuideSubscribe to GPFYP on Apple PodcastsGet Paid for Your Pad Email ListEmail jasper@getpaidforyourpad.comSponsor Legends X STR Accelerator Hosted on Acast. See acast.com/privacy for more information.