Short Term Rental Secrets Podcast

GUEST'S BIO
Darryl Miedico iis a father of 2 wonderful boys and a beautiful wife. His career has been solely in tech and healthcare sales until 2020 when he started my own hospitality company managing short term rentals. Darryl now manages 8 properties across New England and he is actively growing in multiple markets.

HOSTS' BIO
Mike Sjogren 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. Mike 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 is a 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.

HIGHLIGHTS OF THE EPISODE
03:21 Steps to take while waiting for your STR property to close
04:09 The House Bucket
06:37 Leveraging your relationship with the real estate broker/agent
07:37 Being involved and doing your homework
09:00 Planning and doing things ahead of time
10:36 Speed to market
11:30 Parking situation of the STR property
11:50 The feel of the neighborhood
12:12 The Team Bucket
14:04 Planting seeds and getting referrals
15:30 Analyzing your competition
17:13 Asking the locals about the area
18:53 The Timeline Bucket
20:05 Working backward from the launch date
20:39 Thinking through logically
23:40 Recap
25:12 Leveraging technology
26:27 Difference of a new STR operator to a professional operator
27:26 Why contractors need to be referrals
28:05 Interviewing as many people as possible
29:15 Accountability on timeliness
30:27 Going back to your vision and creating processes
32:49 STR Secrets wrapping up 2021
33:29 Text "RESOURCES" to (978) 242-001 to get the STR Secrets Starter Pack for free

NOTABLE QUOTES
"You plan the work then you work the plan." - Emanuele Pani
"The unforeseeable happens even if you plan the work." - Emanuele Pani
"Put yourself through the exercise." - Emanuele Pani

CONNECT WITH THE HOSTS

GUEST'S BIO
Mike Reilly is an STR Operator based in North Carolina. Mike has been able to build a portfolio of 13 STRs in just 16 months, netting him and his wife $20,000/month. He started his journey into short-term rentals with the goal of replacing his income so he could take back control of his time and spend it with those who matter most to him.

GUEST'S BIO

Shane O’Connor is the CEO & Founder of Alchemy Real Estate & Alchemy Hosting. Alchemy is based in Tampa, FL, building a portfolio of Short-Term Rental assets primarily focused in Central Florida. By delivering vertically integrated, top-tier service from beginning to end in the investment process, Alchemy has grown from a single property (and single employee) to 11 properties & a team of four in less than a year. At that same time, Alchemy will have also delivered more than $3M in closed real estate deals for its clients.  Shane is a graduate of the United States Naval Academy and served as an officer in the U.S. Navy for 9 years. He received an M.S. Degree in Real Estate from the University of Florida. He runs the company with his brother, Captain Devin O’Connor, who is an active duty Marine Corps helicopter pilot in addition to being the Director of Operations for Alchemy. 

HIGHLIGHTS OF THE EPISODE

05:16 Shane O'Connor's introduction and background

07:45 Shane share his journey from being in real estate development to helping investors locate and manage properties

13:40 Lessons Shane learned about HOA issues

16:54 Managing properties as a real estate agent

19:10 Shane talks about being a real estate agent

22:41 Recognizing your limits and bringing in more help

25:21 Elevating yourself as a manager and a leader

29:58 Continuous learning resulting in being a valuable service provider

33:14 Trusting the experts

38:18 Tips for real estate agents tapping into managing properties or co-hosting

47:41 Holding yourself to a higher standard

50:19 Shane's tip for real estate agents looking for property managers

53:15 Acknowledgments to Shane

53:45 Where can people connect with Shane

54:21 Shane's #1 secret to success with STRs

57:32 Text "RESOURCES" to (978) 242-0001 to get the STR Secrets free resources

HOST'S BIO
Mike Sjogren 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. Mike 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 is a 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.

HIGHLIGHTS OF THE EPISODE
08:47 Building partnership
09:54 Breaking down business partnerships
10:33 Mike talks about partnering with E for a business
11:33 E talks about his failed partnerships
13:29 Why the 50:50 partnership does not work
14:28 Having the uncomfortable conversation
15:06 Mike talks about his first partnership and his current partnership
17:26 Why some partnerships fail
18:20 How to avoid unpleasant situations
18:27 Personality assessment
18:41 What is an effective partnership
20:08 Understanding the "why"' and the vision
22:07 E shares the effect of bringing his wife to his business
23:14 Mike shares his experience about partnering up with his wife
25:21 Correcting the process, not the person
26:03 Having accountability
27:37 Letting it go and trusting your partner
28:49 Questions to ask yourself before jumping into a business partnership
29:58 What makes a good partnership
31:58 Hiring an attorney for your operating agreement
32:54 Being honest with yourself about having a business partner
35:36 Moral of the story

NOTABLE QUOTES
"A 50:50 partnership is a 0:0 partnership because there is no leader." - Emanuele Pani
"Get the right butts in the right seats on the bus." - Mike Sjogren
"If you love what you do, you are never working." - Emanuele Pani
"Correct the process, not the person." - Mike Sjogren
"Don't act out of fear." - Emanuele Pani
"A partnership is not the answer to get you started." - Emanuele Pani

CONNECT WITH THE HOSTS

GUEST'S BIO

Simon is one of the world’s foremost experts on short-term rental and vacation rental. He leads AJL Atelier, a specialized vacation rental and business consultancy while also advising multiple companies as Board Member and Executive Chairman. A sought-after speaker, panelist and moderator, Simon loves to broach high-level and technical topics alike, from the future trends of short term rental to the specifics of online distribution in the top 5 OTAs. Previously, Simon was the Co-Founder & Chairman of Vacasa Europe, former President of PhocusWright, and ex-Board member of HomeAway, to name but a few. He’s also an accomplished operator, having led Interhome, Hotelplan Group and Swissport as CEO.

HIGHLIGHTS OF THE EPISODE

04:36 Simon Lehmann introduction and background

05:59 How Simon started in the hospitality industry

08:11 Transitioning from being an executive vice president of an airport ground company to a CEO of a vacation rental company

11:21 Simon shares his vacation rental journey

14:04 What is AJL Atelier?

14:42 Simon shares his tips for those who are starting their STR business

18:14 E shares his experience when he first started his STRs

20:20 Bridging traditional hotels and the vacation rental spaces

29:37 Simon's insight about traditional hotels acquiring STRs

33:21 The best business model to use in starting your STR business

37:00 Building a management company and selling it

42:45 Demand vs supply

43:31 Taking a balanced approach from owners to guests

45:45 How to connect with Simon

46:41 Simon's #1 secret to success with STR

50:23 Acknowledgments to Simon

NOTABLE QUOTES

"There is no one size fits all, we need to be flexible." - Simon Lehmann

"The demand is here but we need to professionalize."  - Simon Lehmann

CONNECT WITH THE GUEST

GUEST'S BIO 

Tatianna Taylor-Tait is an award-winning designer helping individuals design beautiful homes and create passive income through property rentals. With almost 7 years in the Short Term Rental industry, Tatianna now uses her knowledge to educate hosts to stop getting in their own way and build a financially free life that they love.

HIGHLIGHTS OF THE EPISODE 

03:25 Tatianna Taylor-Tait introduction and background

03:51 How Tatianna started in the STR industry

08:11 Tatianna's first STR deal

10:53 What made Tatianna start her graphic design business

13:36 Jumping into STR with the right resources

16:41 How Tatianna creates a guest experience through interior design

20:57 Making your property stand out

22:58 The abundance mindset

23:34 How Tatianna spends a limited budget

28:15 Tatianna shares what her business looks like

29:57 How STR changed Mike's life

31:00 Tatianna's advice for the listeners

32:01 Tatianna talks about her team

34:37 Acknowledgments to Tatianna

35:06 How to connect with Tatianna

35:56 Tatianna's #1 secret to success with STR

NOTABLE QUOTES 

"Problems are going to happen but if you put your effort in and keep the course, something's gotta give." - Tatianna Taylor-Tait

"Insanity is doing the same thing and expecting a different result." - Tatianna Taylor-Tait

"Put in that one little extra to set yourself apart." - Mike Sjogren

CONNECT WITH THE GUEST 

HIGHLIGHTS OF THE EPISODE 

GUEST'S BIO 

Claire Rosenberg is currently working as a Customer Success Manager at Linkedin and is managing 8 short term rentals for homeowners all remotely. She is a co-host of the Millenial Millionaire Real Estate Podcast with Jonathan Farber. She started her STR journey by joining Mike Sjogren's STR Secrets Mastermind coaching program and has scaled to 8 co-host properties in 8 months. 

HIGHLIGHTS OF THE EPISODE 

04:40 Claire Rosenberg's introduction and background

05:34 How Claire got into the STR industry and real estate investing

09:00 Claire's first short term rental deal 

10:24 Claire's STR journey

12:26 The snowball effect of referrals

14:00 Claire's mindset switch scaling from 4 to 8 units

15:42 Problem-solving in business

16:35 Being emotional and passionate in business

18:32 Not every deal is a good deal

20:10 E's tip for cold calling

21:27 Co-hosting out of state

21:24 How Claire manages her STR business while working a 9-5 job

29:29 What is a "Runner" and why they're vital to your business

31:07 Taking care of cleaners

32:40 The reality of out of state co-hosting

36:22 The bare minimum attitude

38:32 Mike's time management tip 

42:13 Acknowledgments to Claire

42:51 Claire's #1 secret to success with STR

44:15 How to connect with Claire

NOTABLE QUOTES 

"The more I think about the abundance that is available to us, the more I realize that I am allowed to say "no" and that something better is gonna come." - Emanuele Pani

" I think we should wear our emotions on our sleeves and just live life like that because it's just more real." - Emanuele Pani

"Not every deal is a good deal." - Mike Sjogren

"Audit your time and be laser-focused on what you want to achieve, and you'll start moving the needle every single day." - Mike Sjogren

CONNECT WITH THE GUEST 

GUEST'S BIO 

Jeff Iloulian has been in the vacation rental industry for over 8 years. He has set up, managed or operated over 250+ vacation rental properties - from master leasing apartment buildings to arbitraging luxury mansions. He has also worked directly with Airbnb on various pilot programs for Airbnb Plus and Luxe. Jeff has successfully grown several businesses and has a passion for interdisciplinary problem-solving in emerging industries. He has a background in Economics and Philosophy from Columbia University and a JD from UCLA School of law. Before becoming an entrepreneur he spent three years as a lawyer practicing Business and Intellectual Property litigation.  

HIGHLIGHTS OF THE EPISODE 

04:23 Jeff Iloulian introduction and background 

05:39 How Jeff got into the STR industry 

07:39 Jeff's first deal in STR 

08:19 How Jeff scaled and navigated his Airbnb business 

10:58 Jeff shares what his team look like 

12:55 E talks about his high-end hospitality Airbnb experience in Barcelona 

14:12 Jeff shares where he pools his team from

16:01 Jeff's favorite real estate model 

17:37 Jeff talks about his goal when he first started with Airbnb 

20:12 Factors that made Jeff jump into the Airbnb industry 

21:25 Jeff talks about his business HostGPO 

25:37 Mike shares his experience working with HostGPO 

26:15 Looking at things from a high-level business standpoint 

33:12 Jeff's vision for HostGPO and in the Airbnb industry 

35:30 Is the STR industry oversaturated 

38:31 HostGPO discounted rate categories 

41:39 Acknowledgments to Jeff 

42:14 Where can people connect with Jeff 

44:42 Jeff's #1 secret to success with STR  

NOTABLE QUOTES 

"Being strategic and opportunistic, keeping your eyes open is I think are the secrets to success." - Jeff Iloulian 

"If you're in the early stages, don't live in a wishful world. Don't be afraid to say no to people, opportunities are not limited." - Emanuele Pani  

GUEST'S BIO

Justin Skinner grew up in Springfield, MO, and played collegiate baseball. He owned a commercial photography and graphic design business with his wife when they got their invoices with short term rentals. They have been hosting for about five years now and are in the process of building a lake house short term rental on Table Rock Lake.

HIGHLIGHTS OF THE EPISODE

05:04 Justin Skinner's introduction and biography

05:46 How Justin got into the STR industry

07:36 Justin shares his experience with his first deal while doing design and photography work 

10:20 Justin's Airbnb story

13:25 How Justin and his wife does pricing

14:07 Justin shares how he interacts with his guests

15:11 E's personal experience about interacting with hosts during his stay in Spain

17:40 Justin talks about his team

18:13 How much time Justin spends on running his units

20:20 Thoughts about hospitality and personal touches

23:51 Types of guests that Justin's Airbnb caters

24:52 The can opener experience

26:45 Justin's units in Missouri

27:46 Sharing bad experiences on their Airbnb

29:37 Justin's 5-year vision

31:20 Insights about self-growth, goals, and success

36:19 Celebrating little wins

37:08 Acknowledgments to Justin

37:50 Where can people connect with Justin

38:36 E's message to Justin

39:47 Justin's #1 secret to success with STR

NOTABLE QUOTES

"A lot of people say that there's not a lot of opportunities, but the reality is that they are always around and it's just a matter of taking chances." - Emanuele Pani

"We are all for growth, we just don't want to overload ourselves and get it into some time crunch" - Justin Skinner

"When you look at your life through the shoulds of what other people are doing, you'll just end up being unhappy." - Emanuele Pani

"We're content without being content." - Justin Skinner

"You can go as big as you want but what is the why behind it." - Mike Sjogren

CONNECT WITH THE GUEST

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

05:09 E shares his personal experience renting several Airbnbs for his trip to Europe

07:29 How to make your Airbnb amazing

08:56 How to turn your vacation into a productive one

09:48 Evaluating E's experience at the first Airbnb in Spain

13:43 How to set proper expectations to guests

15:13 E's experience on his second Airbnb in Spain

17:35 Why you need to de-personalize your properties

19:29 Providing an ideal guest experience

23:36 E's advice for Airbnb hosts

24:24 Mike's advice for Airbnb hosts 

24:47 How E manages his 40 units in Florida while being on a vacation in Europe

27:21 How to become financially free

28:55 Insights about work-life balance

33:23 Finding out what lights you up

34:16 Mike and E talk about financial freedom

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

08:05  What to expect in this episode.

08:55  Emanuele’s morning habits and how it has evolved over time.

11:54  Mike’s routine and habits.

16:20  The real reason why habits are important.

20:03  A to-do list can become a to-die list.

23:15  Having goals and why you’re not hitting them.

25:00  Maintaining momentum!

27:24  Consistency is always the key!

28:02  What are the keystone habits that you can do for the phase of the business that you’re in now.

30:18  Give yourself actionable things to do.

33:23  Mike and E’s weekly habit keystones that he’s implemented are related to STRs.

39:19  Mindset and personal development shows are vital to your success. 

Join our Facebook group! www.facebook.com/groups/STRentalsecrets

BOOKS MENTIONED:

Miracle Morning by Hal Elrod

Atomic Habits by James Clear

Psycho-Cybernetics by Maxwell Maltz

Extreme Ownership by Jocko Willink

Profit First by Mike Michalowicz

NOTABLE QUOTES (KEY LESSONS):

"If you don't have a lot of this keystone habits in place, it can fall by the wayside very, very quickly." - Mike Sjogren

"I team for 10 minutes before I actually shower, and I'll just visualize my goals as if I've already achieved them and then how I want my day to go." - Mike Sjogren

"I'm very protective of my time and that's how I'm able to get things done." - Mike Sjogren

"To me what makes a habit work is just that you do it. I don't care when you do it." - Emanuele Pani

"There is an emotional toll that you pay everytime you write down your goals and then you look back at them and you don't accomplish them." - Emanuele Pani

"It's honestly that simple. Where am I going to go, Where am I at now, How am I going to get there, and how can I make incremental progress every single week to hit those targets?" - Mike Sjogren

CONNECTING WITH THE HOSTS

GUEST BIO

Nikola Grubelic - is the founder and CEO of Direct Booker, an international short-term rental management company with a portfolio of 8,000 + units in 9 countries through 22 franchises. Direct Booker is one of the World’s Top 10 Property Management Companies & Technology Developers with the World’s Leading Franchise Model in the Short Term Vacation Rental Industry.

HIGHLIGHTS OF THE EPISODE

04:16  Nikola Grubelic’s Intro/Biography.

05:16  How he started in the STR industry.

09:03  Decided to scale from 35 units after 2 years.

10:10  How their franchise model works.

14:02  What you can expect from their franchise.

16:42  How the marketing under Directbooker works.

17:52  How you get in the Directbooker franchise.

21:21  To whom they present their presentations.

23:21  Their Journey from 35 to over 8,000 units.

26:16  How their franchisees operate.

27:22  Not owning any properties as a company.

28:20  Their vision for Directbooker.
30:50  Selling their property management system.
32:17  Some tips on how to beat Covid and keep getting bookings.

34:38  Where can people learn more about Directbooker.
35:44  Nicola’s number 1 secret to success with short-term rentals.

37:43  Putting additional effort for when everything gets back to normal.

GUEST BIO

Dave Goodfellow - is in the property business for 10 years. 3 years STR, mixed strategies. He’s owned, he’s rent-to-rent (rental arbitrage), he’s done management. He also has 3 Aparthotels and he currently has 40 units.

HIGHLIGHTS OF THE EPISODE

04:03  Dave’s Intro/Biography.

05:29  What triggered Dave to get into real estate and short-term rental space.

12:49  Their rent-to-rent management model.

13:34  Their service accommodation road map.

17:27  Walkthrough on how they purchased 3 hotels.

20:56  Learning, partnering and getting connections from Clubhouse in just 3 months.

22:45  The main reason why Dave got into AppartHotels.

26:18  Doing the 3 properties on their existing brand or creating separate brands for each.

28:54  Dave’s plan for this year (2021).

31:06  What does Dave's week and day look like?

33:36  Creating the process and systems to scale the business.

36:21  Who they hired when they got the 7 units.
40:04  Doing the training properly.
45:30  The worst thing you can do when you interview people.

46:17  Acknowledgements for Dave Goodfellow.
47:44  Where can people learn more and connect with Dave?
49:15  Dave’s number 1 secret to success with short-term rentals.

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

04:17  The true definition of freedom.

05:47  What to expect from this episode.

07:51  1st takeaway: From Ep. 9 with Julie George

12:15  2nd takeaway: From Ep. 36 with Braydon Ross

15:36  3rd takeaway: From Ep. 29 with Andrew Bate

18:21  4th takeaway: From Ep. 26 with Antonio & Dominique

22:49  5th takeaway: From Ep. 34 with Brian Fontenot

25:09  6th takeaway: From Ep. 37 with James Murphy

28:17  7th takeaway: From Ep. 44 with TJ Tijani

30:56  8th takeaway: From Ep. 39 with Tia Bailey

35:02  9th takeaway: From Ep. 48 with Bill Faeth

39:19  10th takeaway: From Ep. 31, 40 & 41 with Mark Simpson

45:41  One of Mike and E’s key to success.

GUEST BIO

Noble Crawford - is a 7-year business owner and principal partner in the short term rental industry. His diverse background spans several years in hospitality, technology, and sales & marketing. Noble has worked with brands such as Marriott, Hilton, IHG, and more. His experience enables him to teach his students how to collaborate with multifamily owners & property management firms to create win-win partnerships.

HIGHLIGHTS OF THE EPISODE

07:17  Noble’s Intro/Biography.

08:03  Noble’s background and how he got into the short-term rental space.

16:43  How he was introduced to short-term rentals.

19:19  The first deal and the progression up until now.

21:29  Noble’s 10 units.

26:21  How Noble’s progression, strategies and how he keeps his units full.

31:31  When Noble got introduced to a real estate developer.

36:56  Having the right conversation with the property owners and landlords.

38:44  Noble’s direct bookings and mid-term stays.

45:03  It’s all about the relationships.

45:32  A tidbit for the audience interested in going after multifamily land developers.

50:04  Where can people find out more about Noble Crawford.
51:11  What is Noble’s number 1 secret to success with short-term rentals.

GUEST BIO

Mike Reilly - is an STR Operator based in North Carolina. Over the past 14 months Mike has been able to build a portfolio of 6 rental units (4 STRs) which are netting him and his wife $12,000/month! Mike started his journey into short-term rentals with the goal of replacing his income so he could take back control of his time and spend it with those who matter most to him.

HIGHLIGHTS OF THE EPISODE

05:21  Mike’s Intro/Biography.

06:04  Mike’s journey with short-term rentals.

10:39  How many hours a week he’s spending running and looking for new units.

16:51  The coolest and challenging things when you become financially free.

20:11  How Mike got over the fear to take the leap on doing short-term rentals.

24:14  Mike’s bigger vision for his STR’s.

25:44  The best tip to push you to start your own short-term rentals.

26:39  Where to find these co-host deals.

28:39  How much Mike’s background in sales helped him in getting deals.

31:10  Mike’s mindset in taking on challenges.

32:44  Where can people get in touch with Mike Reilly.

34:07  Mike’s number 1 secret to success with short-term rentals.

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

03:00  What are Mike’s and E’s roles look like now on their business.

04:30  Tool that you need to prepare for growth.

08:51  Getting PMS or channel managers to streamline processes for you.

15:19  Preparing your mindset for scaling.

17:52  E’s experience on having an executive assistant/ property manager on his team.

21:19  What you should be spending your time on.

24:43  Showing your team how you operate by working harder.

27:05  A tactical definition of “working on” versus “working in” the business.

27:43  Recap of the episode.

GUEST BIO

Bill Faeth - has been involved in real estate for almost 25 years with both commercial and residential investing. In 2015 he switched the majority of his residential portfolio to short-term rentals from the long term after seeing an opportunity to increase profit and reduce risk. Bill currently has a multi-million dollar portfolio of short-term rental properties primarily located in vacation rental markets with a focus on beach, lake, and mountain properties. He has leveraged years of successful business growth strategies to specialize in maximizing vacation rental profits by turning $50,000 annual revenue properties into $90,000 properties yielding high profit via self-management. Bill shares these profit-boosting strategies along with how to self-manage, holding real estate, and so much more so you can build your short-term rental wealth while your guests make your mortgage payments.

Bootcamp on June 7th and 8th, 2021 in Nashville, TN. Go to buildstrwealth.com

HIGHLIGHTS OF THE EPISODE

04:22  Bill’s Intro/Biography.

05:28  What made Bill start his short-term rentals from long-term rentals.

10:17  What Bill’s 2nd tier location is.

11:45  What that 2nd deal looked like.

13:59  Bill’s molotov cocktail for a bad decision experience.

16:24  Learning valuable lessons from mistakes and failures.

18:21 Bill's strategy and what he’s focused on.

24:02  A breakdown of what EBITDA is.

25:51  A process that can increase what your property can make.

33:59  The 6 different types of buyers.

34:09  Giving more than you expect to receive.

43:18  Where can people get in touch with Bill Faeth.

44:23  Bill’s number 1 secret to success in short-term rentals.

GUEST BIO

Wil Slickers - brings a new perspective to tourism, hospitality, and service. Wil lives by the concept of "Exceeding Expectations and Creating Destinations." While running his network of podcasts, he is also an advisor for other hospitality brands like a Treehouse/Glamping company based in California and much more!
Wil got his start by working for a Marriott Autograph Collection with over 700 rooms as a 4 Diamond property and even moved on to managing an all-suite hotel on the Oregon Coast before taking the leap into full-time self-employment and entrepreneurship.

HIGHLIGHTS OF THE EPISODE

06:05  Wil’s Intro/Biography.

07:46  How Wil got started into the short-term rental business.

12:52  The kind of properties that they’re after.

15:41  Where they focus and dominate their STR properties.

18:14  What they plan on doing and the guest experience they want to give people.

20:48  Wil’s mission with their Podcast.

24:30  What they focus on for their investors.

27:44  When you are being a curated-moment focused.

30:41  What he brought into the business from his hospitality background.

33:03  Where can people find out more about Wil Slickers.

34:09  Having a separate website for bookings or not.

35:56  Wil’s number 1 secret to success with Short-term rentals.

GUEST BIO

Ryan Luke - Was based in the UK and now he’s now going back and forth between UK and Dubai. He’s currently at over 130 properties. He’s targeting to get 200 properties by June. He’s doing this on a massive scale in multiple countries.

HIGHLIGHTS OF THE EPISODE

05:43  Ryan’s Intro/Biography.

06:45  Backstory and how Ryan got into the whole Short Term Rental Industry.

10:40  Pushing to 200 properties by this summer.

12:28  A blend of the different models to use on your short-term rentals.

15:37  Ryan’s booking operations.

17:18  Their lead and commission structure.

18:46  Their systems and how they find more deals.

21:03  What made Ryan invest in Dubai.

24:10  What properties make the most sense for Ryan’s portfolio.

26:55  What Ryan spends his time on his business now.

30:24  How acquisitions usually happen.

34:27  Things you don’t notice when you’re passionate about your work.

36:27  Where can people find out more about Ryan Luke.

36:59  Ryan’s number 1 secret to success with Short-term rentals.

GUESTS BIO

Thank you to NoiseAware for coming on the show and offering STR Secrets listeners an exclusive 20% discount. Follow this link and use code STRSECRETS at checkout http://start.noiseaware.io/strsecrets

Michael Goldin - is the director of business development for NoiseAware spearheading partnerships, advocacy, and expansion. He is a Phocuswright 35 under 35 leader committed to bettering the short-term rental industry and happens to be obsessed with travel, volleyball, and his 2-year-old son!

HIGHLIGHTS OF THE EPISODE

03:58  Michael’s Intro/Biography.

05:29  Michael’s background and how he got involved with NoiseAware.

07:45  How he got involved with NoiseAware.

09:19  Renting out his house for a game-day-weekends.

11:24  Standardizing NoiseAware.

14:40  Signing up units using NoiseAware as a pitch.

16:48  NoiseAware on countering false complaints.

18:23  NoiseAware product demo.

22:21  How many NoiseAware sensors you need on a property.

23:47  Outdoor NoiseAware demo.

25:59  NoiseAware’s data on how often people have parties on their STR property.

28:22  How to handle guests that trigger the NoiseAware device.

29:48  How Michael Goldin handles noise on his properties.

32:29  NoiseAware’s future plans.

33:10  20% discount code: STRSECRETS

34:16  Where to find out more about Michael Goldin and NoiseAware.

34:55  Their number 1 secret to success with Short-term rentals.

GUEST BIO

TJ Tijani - Graduated from the University of Houston with a degree in Mechanical Engineering in 2012. While working in the oil and gas industry, he bought his first investment property in 2015. Between 2015 – 2017, TJ went on to complete several wholesale and fix and flip transactions. He also purchased several rental properties as well. In 2017, TJ discovered the short-term rental strategy and hasn’t looked back. TJ bought and remodeled his first short-term rental property in November 2017. His portfolio now consists of a mix of single and multi-family properties that he buys, remodels, furnishes, and turns into full-time short-term rentals. He also has full-time units that he rents via a rental arbitrage. TJ now teaches and educates others on how they can do the same thing.

HIGHLIGHTS OF THE EPISODE

08:57  TJ Tijani Intro/Biography.

09:56  Why you should connect with us in Clubhouse.

10:16  The whole breakdown on how TJ got into the Short Term Rental Industry.

18:46  What the BRRRR strategy stands for.

20:41  TJ’s BRRRR strategy on the arbitrage strategy.

22:52  Why you need to join the FREE Facebook group!

23:26  How you can really make 6 figures in STR Business.

25:28  Why you need to invest in yourself and get educated in this STR industry.

30:48  TJ’s goals for 2021 and how many units does he have now?

32:00  What TJ’s team looks like.

35:39 Third-party cleaning team.

37:19  How much you should pay for your cleaners/handyman?

40:08  Try this for yourself and for your cleaners.

43:32  The most common question and mistakes that an educator gets from their student.

48:46  Where you can find out more about TJ Tijani.

51:03  TJ’s number 1 secret to success with Short Term Rentals.

GUEST BIO

Vincent Breslin - is one of the founders of Uplisting.io. Uplisting helps property managers manage, automate and scale their business. Prior to Uplisting, he ran a similar company focused more on traditional hospitality which he and his partners sold to Tripadvisor. He also worked for HouseTrip which was an Airbnb competitor back in the day. 

HIGHLIGHTS OF THE EPISODE

04:17  STR Secrets texting community! Text your questions at 9783216563

05:11  How to find capital to invest? (Texting community question)

08:07  Vincent Breslin’s biography/introduction.

08:53  How Vincent got into the hospitality industry.

10:54  Being an Airbnb host.

12:13  What makes their company unique despite all their competition.

15:03  The 4 pillars that they focus on.

16:07  Their awesome guest verification system.

18:23  How their journey has been ever since they started their business.

20:11  What their team looks like now.

22:39  Which/What kind of hosts their company usually gets.

23:54  Their software/companies top features.

26:42  What Vincent and their company is working on right now.

27:59  What Uplisting.io’s vision.

31:25  An insight on how they felt about the industry during Covid.

33:32  Where can people find out more about Vincent Breslin and Uplisting.io?

34:46  Vincent’s number 1 secret to success with Short Term Rentals.

GUESTS BIO

Kyle Stanley - is an AirBnB operator out of Fresno, CA. Although he has been doing AirBnB since 2015, he didn't truly turn it into a business until May of 2019. When Kyle learned he could operate AirBnB's in homes that he didn't even own, he realized that he could scale the business quickly. In under 18 months, Kyle went from 1 listing to 25 listings, netting over $20K per month. Kyle now teaches others how to replicate his path to success in AirBnB. Kyle is also a real estate investor practicing exit strategies like flipping, wholesaling, creative financing and more. You can tune into his podcast, "The Fearless Investor," to learn more.

HIGHLIGHTS OF THE EPISODE

03:29  STR Secrets texting community! Text your questions at 9783216563

04:34  Kyle’s Biography/Introduction.

05:26 The mindset shift that led him to do Short Term Rentals.

07:08  Rental arbitrage or Management model. How he scaled his STR properties.

06:45  #1 lead source for finding management clients.

11:22  What Kyle’s team looks like.

12:21  Who handles their guest communication.

14:01  His payment method towards his assistant/s.

16:36  Find someone who cares about being a part of something big.

20:21  Why it’s difficult to find the best VA for your STR business.

24:18  You must be hungry to evolve and avoid staying in your comfort zone.

25:22  Why Kyle's "Why" hasn’t changed.

27:01  Kyle’s STR business goals for 2021.

28:51  Kyle’s systems on technology and automation.

33:03  A recent mindset shift.

41:31  How to get in touch with Kyle Stanley.

42:48  Kyle’s number 1 secret to success with Short Term Rentals.

37:24  A FREE Airbnb profit calculator giveaway on Kyle’s website.

GUESTS BIO

Mark Simpson - Owns a company called Boostly. He grew up in the UK. His parents owned a boutique/BNB type of property on a farm and when he got older he started looking at something on how to start marketing their business and get more people to come to their property. Over years and years of refining a website and different marketing campaigns, he’s really dialed in on this process and has still continued to evolve that over the last decade. Mark is the guy to learn about direct bookings. He’s got some amazing content on Youtube and on his website.

HIGHLIGHTS OF THE EPISODE

02:21  STR Secrets texting community! Text your questions at 9783216563

03:18  Mark’s 5 steps/secret sauce.

04:40  Step 4: Booking stage

05:23  What a PMP/PMS is.

06:45  How to find out if your PMP is right for your business.

08:52  A stupidly shocking statistic!

10:33  A cool website that filters every tester to fit your avatar.

14:01  If you have renters you’re in Mark’s world.

15:28  Buyer’s remorse and how to solve it.

21:36  What can you do to put your guests’ minds at ease.

24:18  How to get 2 months FREE from Hostfuly guide book.

25:22  Why you need to have a digital guidebook.

30:04  How to manage your guest database.

34:31  How to get in touch with our guest Mark Simpson.

40:22  A clubhouse event in a couple of weeks with our guest.

41:31  Be part of Mark’s book, “The book direct playbook”.

42:48  Mark’s best book of all time.

GUESTS BIO

Mark Simpson - Owns a company called Boostly. He grew up in the UK. His parents owned a boutique/BNB type of property on a farm and when he got older he started looking at something on how to start marketing their business and get more people to come to their property. Over years and years of refining a website and different marketing campaigns, he’s really dialed in on this process and has still continued to evolve that over the last decade. Mark is the guy to learn about direct bookings. He’s got some amazing content on Youtube and on his website.

HIGHLIGHTS OF THE EPISODE

03:30  STR Secrets texting community! Text your questions at 9783216563

05:16  Mark’s 5 steps/secret sauce.

07:13  Looking at what big companies spend millions in research.

07:55  $50,000+ in commission to STR platforms.

10:23  The 5 step formula breakdown.

12:51  Step 1: Planning.

15:37  People can’t travel right now but they can plan right now.

17:09  Position yourself in where their eyes will be.

19:49  Utilizing Private (Incognito) mode on your browser for your STR business.

23:43  Short tail keywords.

25:42  Tips to get your property to appear on 80% of local searches.

30:15  Quick recap on the 1st step: Planning.

33:03  Step 2: Research.

36:03  Knowing the importance of pictures and being clever in some way shape or form.

40:22  The Research stage is key.

44:06  Step 1 & 2 quick recap.

44:28  Step 3: Decision.

45:19  3 things that they’re looking for on this stage/step.

45:37  1st: Pricing

47:18  2nd: The Policy.

51:47  3rd: Safety.

53:59  Utilizing technology from Airbnb inquiries only to instant bookings and so on.

57:30  What is a “Rich Snippet” on Google? And how to take advantage of it.

GUESTS BIO

Tia Bailey - Tia is a 29-year-old serial entrepreneur who got into the short-term rental industry because of an internship she had in Brazil. She stayed with an Airbnb family for 3 months and got to experience Brazil like a true local. She realized that this would be an amazing opportunity that her family could take advantage of and when she got home in 2017, she convinced her parents to turn their upper apartment in their home into an Airbnb. Due to the immediate financial success that it had, her parents were able to start paying off their credit card debt and be able to finally start saving.

HIGHLIGHTS OF THE EPISODE

03:29  Tia’s biography/introduction.

04:44  How she started her short term rental business.

09:37  Talking partnerships with homeowners.

10:49  The best lead source for the co-hosting model.

13:23  An amazing experience on a networking group called BMI.

15:34  Is Tia doing the Management model or Arbitrage?

23:12  What model she’s using on her new property/project.

29:53  Being the destination.

32:50  Tips and how to look at opportunities.

35:57  A new concept for your short term rental.

38:56  Making money off of your cleaning fees.

43:32  Where can you get in touch and learn more about Tia Bailey.
45:24  Tia’s #1 secret to success with short term rentals.

NOTABLE QUOTES (KEY LESSONS):

"My whole body resonated and pretty much was like, 'go tell the owner of the building you're taking the entire project.' And so I did." - Tia Bailey

"No one's doing what I'm doing on this level and on this scale. So it's crazy but it's been amazing!" - Tia Bailey

"I don't care so much about the money coming in because I'm all about the service that's being provided to these guests." - Tia Bailey

"I had to become a person of value in order to truly and authentically provide services that would be valuable to anybody and everybody." - Tia Bailey

CONNECTING WITH THE GUESTS