Vacation Rental Revolution Podcast

First Time Vacation Rental Owners, Chris Ronshagen & Jess Kenney, were first time investors jumping into the vacation rental market at arguably the toughest time to purchase a property in a long time.

Chris shares the ups, downs and everything in between as we dive into the journey into their first vacation rental investment.

Similar to all of our success stories, here’s what I can tell you about Chris and Jess. They are hungry, driven, up for the work, and THEY LISTEN.

I’ve worked with thousands of people who say they want to build a portfolio of Lifestyle Assets, and I can tell you that the people who get results are always the best listeners and they take massive action.

Most people listen with the intent to reply, Chris & Jess listen with the intent to understand. That understanding then turns into action, that action into results.

Go listen to their awesome story on this weeks podcast episode.

As always, thank you for listening and being the best part of this show.

There are a lot of things going on right now in the world.   

Interest rates are going up.  Inflation is on the rise.  Markets are unstable. 

Is now the time to hit the pause button on jumping in to the STR game? 

My right hand guy here at Vodyssey, Scott Marshall, joins me to discuss this and many other topics around investing in short term rentals. 

I had a chance to riff on a number of things during our conversation. I hope you gain some insights from our conversation and enjoy this episode. For more information & expert advise.  Visit www.Vodyssey.com

As short term rentals become more and more main stream, there is a lot of information our there about short term rental investing.  

If you are interested in investing in short term rental or you are currently investing, I am sure all of the advice can be daunting and even confusing at times.   There is definitely no shortage of opinions and advice out there.  

Heck, I am one of those people adding to that noise.  

Today, I want to talk to you about some questions you should be asking yourself as you run down this road.  Hopefully this will help you to filter out some of the noise so that you can really reach your property investment goals.

SPOILER ALERT:  Despite what many people would have you believe, there are no easy buttons.  Regardless of what advice you get, you are responsible for your success or failure and it is up to you to vet out the advice you are getting.  

As always, thank you for listening & I hope you enjoy this episode.  

First Time Vacation Rental Owners, Steve & Linda Cummings, were first introduced to vacation home investing less than 4 months ago.

Steve & Linda share the ups, downs and everything in between as we dive into the journey into their first vacation rental investment.

Similar to all of our success stories, here’s what I can tell you about Steve & Linda.

They are hungry, driven, up for the work, and THEY LISTEN. 

I’ve worked with thousands of people who say they want to build a portfolio of Lifestyle Assets, and I can tell you that the people who get results are always the best listeners and they take massive action.

Most people listen with the intent to reply, Steve & Linda listen with the intent to understand. That understanding then turns into action, that action into results. 

Go listen to their awesome story on this weeks podcast episode.

Go check out their property below:

https://www.vrbo.com/2636081?adultsCount=7&arrival=2022-05-04&departure=2022-06-08&fbclid=IwAR0aAP51i31zZH3jLhsmJ-CDclaqh52hMYCW1U41xiz5dc46Q8uZhr6IcUo

Successful Vacation Rental Owners, Freddy & Almoraima Falck were first introduced to vacation home investing less than 10 months ago and now have built a portfolio of 3 beach homes in that short time.

Freddy shares the ups, downs and everything in between as we dive into their journey in the vacation rental world.

Similar to so many success stories, here’s what I can tell you about Freddy & Almoraima

They are hungry, driven, up for the work, and THEY LISTEN. 

I’ve worked with thousands of people who say they want to build a portfolio of Lifestyle Assets, and I can tell you that the people who get results are always the best listeners and they take massive action.

Most people listen with the intent to reply, Freddy & Almoraima listen with the intent to understand. That understanding then turns into action, that action into results. 

Go listen to their awesome story on this weeks podcast episode.

Go check out their properties below:

https://abnb.me/Goy9lVo25jb

We are heading into another busy season for most vacation rental owners.  Inventory is way below the demand in most markets so we can expect to have another record year in most areas.  However, the difference between the amount of money the top properties make and the average properties is huge.  I'm going to talk about an easy way for you to put a lot more money in your pocket starting immediately. 

In my opinion, pricing your property correctly is one of the least understood and most underutilized marketing tool available to vacation rental owners.

In today's episode, I talk about how you can take advantage of a major opportunity in today's short term rental market by understanding how to price your property to put the maximum amount of money into your pocket.

I believe that most management companies and many people are very lazy when it comes to pricing their property correctly.  Especially those with really high occupancy levels.

Join me on this episode as I share a strategy you can put in place today to instantly help you maximize the return on your Lifestyle Asset.

Vodyssey was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

For more content and expert advise, visit www.Vodyssey.com

As investors, once we find a great asset that fits our property and investment goals, the next step is to add as many of those assets to our portfolio as quickly as possible.  

Often times, what holds us back is that when we began to scale up our portfolio, traditional financing options begin to dry up.  

Today we are joined by Doug Perry, Director of Sales at Temple View Capital, to discuss asset based loans or DSCR (debt service coverage ratio) loans built specifically for investors as a great long term financing option for their short term rental portfolio.

We cover the basics of these types of loans as well as some of the unique details of how they work and what you can do to leverage them to build your own personal portfolio. 

If you are looking to scale your STR investment portfolio and you'd like to know how to use non traditional loans to turbo charge your growth, you don't want to miss this episode.

To get ahold of Temple View Capital, you can visit: https://www.templeviewcap.com/vodyssey

Many people experience short bursts of excitement or curiosity around investing in vacation homes, but inevitably get stuck at some key points along the way, and before they know it, another year has gone by and they aren't where they wanted to be.

This is totally avoidable if you understand the long game and have a proven process to follow.

Many people get excited about our member stories where people moved quite quickly and accomplished a lot in one year, but they often don't understand what is behind the ability to do that.

I hope you enjoy this episode and thank you for listening and being the best part of this show.

2021 was a crazy year for vacation rental owners.  It seems like records were set across the board.  

While we don't have all the numbers from 2021, there is an over arching theme indicating that 2022 is stacking up to be very good for short term rental hosts.

Experts saw demand for short term rentals in 2021 increase from the previous year by 22.4% but supply only went up by 2.5%.

This is a huge supply gap.

The same experts are expecting demand to increase an additional 14% in 2022 while supply continues to lag behind.  

These are very good signals for those of you getting into the short term rental game or those of you doubling down to build your portfolio if you are already in the game.

You don't want to miss this quick episode as I unpack the major things I see in this report.

Here is a link to the report for those of you that would like to check it out.  

https://www.airdna.co/blog/2022-forecast-us-short-term-rental-outlook-report

I hosted a live training last Friday to talk about the secrets we’ve learned making over 400 offers this year.

I shared what’s working right now in the most competitive markets, and some hard-won wisdom on what hasn’t worked for us this year.

If you’re looking to buy a vacation home in the next 6-12 months, you likely will need these secrets in order to get your offer accepted in these white hot real estate markets.

I hope you enjoy this episode as you prepare to build your vacation rental portfolio.

As always, thank you for listening and being the best part of this show.

Vodyssey member Eli Grelecki shares their journey of the first year of vacation rental ownership. 

We talk about the ups and downs of competing to find a property in today's crazy real estate markets.

We discuss the challenges and delays of completing a remodel in today's construction atmosphere. 

And ultimately what the end of the road looked like when the property when live the week of Thanksgiving where they saw it all come together.

This is a must listen.  

I hope you enjoy this episode as much as I enjoyed the interview. 

To visit the Grelecki's property on AirBnB: https://airbnb.com/h/tamaracklookout

It is no secret that the short term rental market is getting more and more saturated & it is getting harder for hosts to stand out in these crowded markets.

Today I am joined by one of the nations leading brand experts, David Flanagan. 

If you have listened to me long enough, it is no secret that I believe there is HUGE upside in the short term rental space.  However, you have to play the game correctly.  And one of the most important skill sets your should acquire is learning how to stand out in any market.

Today we are going to talk about the importance of giving your property a sole and really telling a story with your property to stand out and deliver an amazing customer experience for your guests.  

If you own a property or are thinking about purchasing one soon, you do not want to miss this episode. 

As always, thank you for being the best part of this show, and I hope you enjoy today's episode. 

To get in touch with David, you can find him at https://www.flanaganspeaks.com/ or get a copy of his best selling book, Rudder, on Amazon or on his website.  

Now is the time of year that most people begin to take their foot off the gas pedal.   People tend to relax and begin to procrastinate during the holiday season. 

Thanksgiving, Christmas & New Year's are holiDAYS not holiMONTHS.

Most people start to relax, make excuses & push things off until the first of the year.  You may even have a tendency to take it easy right now. 

This is the time to accelerate your progress and gain some massive ground on the competition and the old you, without giving up the fun of the holidays.  
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As always, thank you for listening and being the best part of this show.

One of the biggest decisions that you have to make when purchasing a vacation rental is:

What type of financing are you going to use?

Today we interview Jeff Chisum from Northpoint Mortgage to help us understand the top 3 loans to help you fund your next vacation rental purchase.

From traditional full doc loans, to no personal income qualifying asset based loans, there is a loan that will fit almost any person's situation.

This episode is jam packed with amazing information that I am excited to share with you.

As always, thank you for listening and being the best part of this show.

Have you ever considered using the tax law as a wealth building strategy?

In today's episode, we interview Mike Pine from Pine Co CPAs, and we discuss just that.

Mike shares a story from one of his many clients using taxes as a wealth building strategy who purchased a beach property and he helped them strategically set it up correctly.  In doing so they were able to reduce their tax liability that year by more than the amount of their down payment, and they have now parlayed that money into a second mountain property and plan to continue this for the next 10 properties. 

Uncle Sam is funding their portfolio. 

The most exciting part of this, is that almost anyone can do it, unfortunately, most people do not know about it to take advantage of this huge wealth building strategy.  

Join us on today's episode with one of the nation's leading tax advisors and CPAs, Mike Pine, as we discuss exactly what you can do to take advantage of this strategy to build your vacation rental portfolio.  

To book a consult with Mike and his team visit: www.PineCoCPAs.com/Vodyssey

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The Vodyssey and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

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Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

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For more content and expert advise, visit www.Vodyssey.com

I had something I wanted to get off my chest today.  

I have the pleasure of speaking with many people all across the country who are interested in getting into the short term rental game.

One of the topics that comes up fairly often is people under estimating the simplicity of this game.   

My biggest frustration is that sometimes people won't set their ego aside long enough to learn what it takes to succeed, and this ultimately leads to them selling themselves short on the success they could have. 

Most people do not know what they don't know.  This is not their fault.  They haven't put in the time to understand what seems to be a very simple business.  

While this business is not rocket science, there are certain things you should focus on to succeed in this game.  If you don't know what those things are, you may run down a road that has some surprises for you.  

Listen to this weeks episode to hear why I believe there is more success waiting for you than you may realize if you understand how to play this game.  

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The Vodyssey and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

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Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

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For more content and expert advise, visit www.Vodyssey.com

Successful Vacation Rental Owners, Jacob & Vanessa Jansen share the ups, downs and everything in between as we dive into their journey in the vacation rental world. 

Similar to so many success stories, here’s what I can tell you about Jacob & Vanessa.

They are hungry, driven, up for the work, and THEY LISTEN. 

I’ve worked with thousands of people who say they want to build a portfolio of Lifestyle Assets, and I can tell you that the people who get results are always the best listeners and they take massive action.

Most people listen with the intent to reply, Jacob & Vanessa listen with the intent to understand. That understanding then turns into action, that action into results. 

Go listen to their awesome story on this weeks podcast episode.

The Vodyssey and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

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Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

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For more content and expert advise, visit www.Vodyssey.com

An emergency fund doesn’t have to burn a hole in your wallet if you know what it is, and how it can work for you without earning a huge return.

Many successful investors get the feeling that their cash is “burning a hole in their wallet.” After all, that cash could be earning a return.  

Using up that “cash burning a hole in your wallet” so it “earns a return” is the real estate investor’s constant dilemma.

Today we are going to talk about how much of an emergency fund you should have personally.  

We will discuss how much capital you should plan on for your first short term rental investment.  

And we will discuss what an emergency fund should look like for your portfolio before you begin putting money into you own pocket as a return on your investment.

As always, thank you for listening and being the best part of this show.

Vodyssey was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

For more content and expert advise, visit www.Vodyssey.com

I hear over and over from people that they want to begin building a real estate portfolio.

When I ask them what is holding them back I most often hear that they don't have the time, money or knowledge to move forward.

The fact of the matter is that none of these are the real reasons holding them back.

In today's episode, I am going to share with you the one and only thing holding people back in this game, and what you can do about it today to recognize and combat against it.

As always, thank you for listening and being the best part of this show.

Vodyssey was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

For more content and expert advise, visit www.Vodyssey.com

Today is a special episode for me.  I have the opportunity to talk to so many amazing people who are interested in vacation rental investing.  

Most have experienced some level of success, and I have found that there is a secret curse of success that has the ability to haunt us all and stop us in our tracks if we let it.

Listen to today's episode to recognize and avoid this silent killer of dreams. 

As always, thank you for listening and being the best part of this show.

If you have been around me for any length of time, you know that I am a systems and process oriented guy.

I refer a lot about the three major phases of vacation rental ownership.  The acquisition phase, the management phase & the marketing phase.  What I don't talk a lot about is the framework within each of these phases.

Today's episode is part 3 of 3 and is all about unpacking the marketing phase of vacation rental ownership.  There is a lot more that goes into successfully marketing a short term vacation rental than many people think.

I hope you enjoy and learn something new!

As always, thank you for listening and being the best part of this show.

Vodyssey was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

For more content and expert advise, visit www.Vodyssey.com

If you have been around me for any length of time, you know that I am a systems and process oriented guy.

I refer a lot about the three major phases of vacation rental ownership.  The acquisition phase, the management phase & the marketing phase.  

What I don't talk a lot about is the framework within each of these phases.

Today's episode is part 2 of 3 and is all about unpacking the management phase of vacation rental ownership.  I hope you enjoy!

As always, thank you for listening and being the best part of this show.

Vodyssey was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

For more content and expert advise, visit www.Vodyssey.com

If you have been around me for any length of time, you know that I am a systems and process oriented guy.  

I refer a lot about the three major phases of vacation rental ownership.  The acquisition phase, the management phase & the marketing phase.  What I don't talk a lot about is the framework within each of these phases.

Over the next three episodes, I want to unpack the framework within these phases to hopefully help you understand that we are not just guessing at a high level if this will work.  We focus on a lot of details as we build our portfolios of profitable Lifestyle Assets.  

Today's episode is all about unpacking the acquisition phase.  I hope you enjoy!

Vodyssey was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

For more content and expert advise, visit www.Vodyssey.com

One of my favorite subjects to talk about is maximizing your Lifestyle Asset with paid advertising.  

This is the final step where we really add fuel to the fire to maximize your portfolio.

However, adding fuel to the fire at the wrong time can be a fatal mistake. 

Today I am going to talk to you about how and when to add paid advertising to your Lifestyle Asset business so you see the explosive results you are looking for with paid advertising.

Vodyssey was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

For more content and expert advise, visit www.Vodyssey.com

In my opinion, pricing your property correctly is one of the least understood and most underutilized marketing tool available to vacation rental owners.  

In today's episode, I talk about how you can take advantage of a major opportunity in today's short term rental market by understanding how to price your property to put the maximum amount of money into your pocket.  

I believe that most management companies and many people are very lazy when it comes to pricing their property correctly.  Especially those with really high occupancy levels.  

Join me on this episode as I share a strategy you can put in place today to instantly help you maximize the return on your Lifestyle Asset.

Vodyssey was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

For more content and expert advise, visit www.Vodyssey.com

If you have been looking to purchase any real estate lately, you know that inventory levels are extremely low and the competition is fierce.

Today I am going to share a few strategies that you can do today to immediately increase your odds of seeing the best deals before anyone else gets them. 

There are a few things in here that may surprise you, and they might be the opposite of what you think works.  However, I challenge you to implement these strategies right away and you will be shocked at how many deals you see before everyone else in your market.

Vodyssey was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

For more content and expert advise, visit www.Vodyssey.com

Let’s dive into some really exciting news we’ve been talking about for a while now but getting some validation.

AirBnb CEO, Brian Chesky, just stated that they will need millions more hosts to meet surging demand.

What areas are people searching?

Rural areas

Small towns

Entry Points to State & National Parks

Demand is crazy right now and STR have become the preferred choice for many travelers.

I’ve been saying that Covid was a multi trillion dollar advertising campaign for the STR industry and is sound like Brian agrees.

We are seeing the length of stays continuing to increase and we are hearing from multiple sources that approximately 50% of companies are planning to allow remote work post pandemic.

Right now many hosts are seeing almost 100% occupancy heading into the travel season.  This is an indication that we are going to see ANR go up for many hosts adding to the bottom line.

In short, the future looks very bright and there is a lot of opportunity for those of us in the STR game for the foreseeable future.

Vodyssey was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets. 

Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family. 

For more content and expert advise, visit www.Vodyssey.com

Why do I do what I do everyday?

This is a question that I get asked all the time.  

I want to share with you why I get more excited everyday about the opportunities in front of us.

Many people believe that owning and investing in vacation homes is reserved for the rich and famous.  That is absolutely not the case.  This is a space that regular people like you and me can thrive. In fact, we have a huge advantage over the big guys.

I hope to inspire some new questions for you in today's episode.  Not just about the technical side of this business, but also about what dream you are chasing and why you are chasing it.

Listen to this weeks episode to get all the details about these great loan options. 

As always, thank you for listening and being the best part of this show.

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Vodyssey was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

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Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

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For more content and expert advise, visit www.Vodyssey.com

Getting the right financing for your vacation rental is one of the biggest steps to purchasing your property.

This week I was fortunate to be able to interview one of the nations leading experts in vacation rental financing. Jeff Chisum with Gateway Mortgage.  www.TenPercentDown.com

I learned some really amazing changes that are happening in the industry that allows us to take advantage of 10% down payments and really low rates as we build out Lifestyle Asset portfolio.

Listen to this weeks episode to get all the details about these great loan options. 

As always, thank you for listening and being the best part of this show.

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Vodyssey was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

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Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

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For more content and expert advise, visit www.Vodyssey.com

I get asked all the time, why do I think now is a good time to buy vacation rental?  

Prices are at all time highs.

Inventory levels are super low.

The economy is uncertain, etc, etc, etc. 

There are a number of different reasons why I believe now is a great time to buy, but there are two BIG reasons that I will share with you in this show.  

As always, thank you for listening and being the best part of this show. 

Vodyssey was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

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Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

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For more content and expert advise, visit www.Vodyssey.com







Listen to this weeks episode to hear our thoughts on this.

Most markets are at all time highs.

Inventory levels are at all time lows.

Prices are increasing over night. 

Should I even consider purchasing in this crazy market?

Vodyssey and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

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Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

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For more content and expert advise, visit www.Vodyssey.com







Listen to this weeks episode to hear our thoughts on this.

When it comes to short term rentals, the biggest reason people fail is not because they do not purchase the right property.

It's not because they chose the wrong location.

It's not even because they don't have enough money.  

Listen to this week's episode to see why most people fail with vacation rentals.

Vodyssey and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

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Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

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For more content and expert advise, visit www.Vodyssey.com

As we dive head first into a new year, reflect on our past year and make plans for future growth, I felt it would be a good reminder to review some common action that poor people take that rich people do not.  

1. Save Money

2. Buy Toys That Don't Make Money

3. Have A Plan B

4. Keep Money In The Bank

5. Do Remedial Tasks

6. Take Things Personally

7. Focus On The Price Over The Value

I explain these 7 things in detail and give you some examples of what I mean and how these actions can be detrimental to your financial freedom.  

Vodyssey and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

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Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

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For more content and expert advise, visit www.Vodyssey.com

Meet James & Emily Bauslaugh – They are from Fredricksburg, VA and they were looking for a plan to purchase their first vacation rental property when I met them less than 30 days ago.  They love the outdoors and have thought of ways to purchase a property they could use personally that also gave them a great return.

James & Emily were looking for a system that they could follow to help them bridge the gap between having an idea of owning a profitable vacation rental to the reality of actually purchasing the property.

Let’s break it down:

Who? James & Emily Bauslaugh

Problem:  Unable to figure out all of the moving parts of purchasing, managing & marketing a profitable vacation rental all on their own.

Solution: Join the Vodyssey Masterclass & Empire Club Coaching (my training program that shows you how to build a profitable portfolio of Lifestyle Assets.)

Did It Work? Yep, James & Emily had their first Lifestyle Asset under contract within 18 days of joining Vodyssey.

Here’s what I can tell you about James & Emily.

They are hungry, driven, up for the work, and THEY LISTEN. 

I’ve worked with thousands of people who say they want to build a portfolio of Lifestyle Assets, and I can tell you that the people who get results are always the best listeners and they take massive action.

Most people listen with the intent to reply, James & Emily listen with the intent to understand. That understanding then turns into action, that action into results. 

Go listen to their awesome story on this weeks podcast episode.

The Vodyssey and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

.

Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

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For more content and expert advise, visit www.Vodyssey.com

Today Shelly joined our podcast and we had a great chat about Baseball, Basketball & how it all relates to Lifestyle Asset Acquisitions.

Purchasing the right property in the right area is a critical step in building a profitable portfolio.  However, too many people start the acquisition process and assume that the perfect property is going to just magically fall into their lap.  

You have to put your self in the game and understand that it take a few at bats before you will see the perfect pitch. 

The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

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Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

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For more content and expert advise, visit www.Vodyssey.com

Today I share with you the biggest and only competition you have to worry about. 

I have been getting trolled by a guy on social media and I share some of my thoughts about his comments.  

Simon Sinek has a valuable lesson in his book, Start With Why that I felt necessary to share this week.

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The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

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Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

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For more content and expert advise, visit www.LifestyleAssetU.com

LAU's Director of Client Success flips the script and interview's Shawn on this weeks podcast.   

Shelly surprised Shawn this week with a few questions of her own.  This was a fun episode that took a number of different turns that should be helpful as you navigate tackling any new challenges. 

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The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

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Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

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For more content and expert advise, visit www.LifestyleAssetU.com

Meet Troy & Misti Petrie – They are from Denver, CO and they were looking for a plan to purchase their first vacation rental property back in August when I met them.  They loved hiking and skiing in the Colorado mountains and always thought of ways to purchase a property they could use that also gave them a great return.

Troy and Misti have always been system and process oriented and they were looking for a system that they could follow to help them bridge the gap between having an idea of owning a profitable vacation rental to the reality of actually purchasing the property.

Let’s break it down:

Who? Troy & Misti Petrie

Problem:  Unable to figure out all of the moving parts of purchasing, managing & marketing a profitable vacation rental.  

Solution: Join the LAU Masterclass & Empire Club Coaching (my training program that shows you how to build a profitable portfolio of Lifestyle Assets.)

Did It Work? Yep, Troy & Misti had their first Lifestyle Asset under contract within 14 days of joining LAU.  They closed 30 days later.

Listen to this week's podcast of Misti sharing their journey.

Here’s what I can tell you about Troy & Misti 

They are hungry, driven, up for the work, and THEY LISTEN. 

I’ve worked with thousands of people who say they want to build a portfolio of Lifestyle Assets, and I can tell you that the people who get results are always the best listeners and they take massive action.

Most people listen with the intent to reply, Troy & Misti listen with the intent to understand. That understanding then turns into action, that action into results.

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The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

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Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

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For more content and expert advise, visit www.LifestyleAssetUniversity.com

As you guys know, I am a HUGE fan of taking massive action. You’ve heard me say over and over that Action leads to Results and results lead to Momentum.

However, massive action without a plan can lead to disaster.

Action always leads to results. However, it doesn’t always lead to your desired result.

I learned an embarrassing lesson in 7th grade about taking action without a plan, listen to the podcast to hear my story.

I love action takers. I’ve always considered myself an action taker and sometimes it has gotten me in trouble.

Many people in the VR world take action and purchase a property without a real plan for what to do after they own it. They know that there are platforms like Airbnb to help them and they figure that is all they need. Their investment is very market dependent. Sometimes it works out and sometimes it doesn’t.

Compare that with the people who purchase a property with an acquisition plan to help analyze the location and property type.  Identify the profit potential and invest ability of the area they are looking for. They then have a specific management structure that fits their property and location as well as their needs. They know the details of who their target guest is and where they are coming from. They follow a plan to deliver a unique experience to that target guest. And finally they know every detail about how to market to that target guest and get them to book their home without the help of the OTA’s like Airbnb. They have a platform to follow up with all of their happy guests to generate repeat bookings and the list can go on and on.  Who do you think has a better chance to succeed and really maximize their investment?

Obviously, the person that has a plan and pays attention to the details.

My lesson for today is to have a plan, pay attention to the details of that plan and THEN take massive action following your plan.

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The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

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Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

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For more content and expert advise, visit www.LifestyleAssetUniversity.com

I was listening to one of my favorite podcasts recently that pissed me off so much I almost turned it off.  You'll have to listen to hear the whole story. 

Lets apply it to the VR world

There is an evolution that takes place in any new adventure. 

Mike Dillard has said that there are really only two ways to change your circumstances.

1. Acquiring new information and expanding your knowledge

2. Meeting new people and expanding your network

Many people get into the VR game with one idea in mind and then end up evolving as their knowledge base expands as well as their network.

We focus on three main areas inside of LAU, the Acquisition Phase, Set Up and Management Phase & the Marketing Phase.

One phase is not more or less important that the other. We tend to begin and end with the acquisition phase in most real estate investing.

However, VR are much closer related to a business than a real estate investment.

If you only focus on the acquisition phase, your property will be very market dependent and you will continue to compete for customer acquisition in more and more saturated markets. This can feel like you are swimming upstream and depending on many outside influences that you have no control over.

However, if you take it a few steps further, your business can evolve to be very self sustaining by focusing on the customer experience and customer retention which is way more enjoyable and where you have complete influence and control.

Conceptually, many business owners and professionals understand this. They just haven’t applied it to their vacation rental business.

This happen when you expand your knowledge base and your network to change your circumstances.

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The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

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Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

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For more content and expert advise, visit www.LifestyleAssetUniversity.com

ARE YOU READY FOR MARKETING???

Identify 3 Major Outcomes – 1. Acquiring a property in the right location & property type.  2. Set up & management of your property to deliver a unique experience. 3. Maximizing your asset with turbocharged marketing.

Rewind and Make Sure You Have Built A Solid Foundation

WHY WE MARKET OUR PROPERTY OUTSIDE OF THE OTA’s…

To Build A Business With Our Own Customer Base. Don’t complain about the OTA’s if you are not willing to do anything about it.  Your job is to build a customer base outside of the OTA’s if you really want long term success.

PAID ADVERTISING VS ORGANIC

Paid is predictable and scalable.

COMMIT TO THE PROCESS

Your marketing, even with a proven process, is making constant iterations. You need to commit to the entire process.

DELIVER ON YOUR PROMISES

Marketing is essentially making promises. You are making an offer to get a response. When you get a response, make sure you deliver.

You should have a thoughtfully crafted customer journey that over delivers on all of the promises that you have made to your prospects.

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The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

.

Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

.

For more content and expert advise, visit www.LifestyleAssetUniversity.com

Specialized Knowledge Builds Wealth.

“Successful People in all callings never stop acquiring specialized knowledge related to their major purpose, business or profession.” – Napoleon Hill

Real Estate is a Huge ocean. There are lots of different ways people make money in real estate.

However, when you look at the most successful people, they have chosen to focus their attention to acquire specialized knowledge in a very specific area.

STR are one specific vehicle in real estate. However, even though STR are a small niche in real estate, there are experts who make money in different ways within STR.

In any game you play, if you want an unfair advantage, you need to specialize.

So many people are looking for the magic pill or secret to success. There is no magic pill but there is most definitely a secret to success it’s just not what most people want to hear.

The Secret to success is mastering a specific skill. Sound easy but mastery takes time and most people are not willing to put in that time.

However, those that are willing will see success

Knowledge leads to Action. Action leads to Results. Results lead to Momentum and that ultimately snowballs into massive success.

Does it happen overnight – absolutely not. Most people over estimate what they can accomplish in 30 days but grossly under estimate what they can accomplish in a year.

The time is going by one way or the other. Spend the time to master a specific skill and you will set yourself up for massive success.

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The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

.

Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

.

For more content and expert advise, visit www.LifestyleAssetUniversity.com

Still the number one question that I get is: Where are the most profitable locations?

I want to challenge you today to ask a different question.

When you ask better questions you get better answers.

Your short term rental is a long term investment and markets change over time.

Publications love to promote the Top Location Lists because they know that's what people want to see.  However, those lists are like musical chairs.

How do you identify the most profitable locations???

Most look at the ratio between Acquisition Price and Revenue generated by the property and that is a calculation of ANR and Occupancy.

The problems is that those things changes all the time.

I challenge you to ask different questions like:

What makes a location or specific property type profitable?

What are the major profit drivers in an area?

What can I do to add profitability to the property?

What can I do to market and stand out in a crowded marketplace?

All of these questions will help you better determine the most profitable market for YOU.

The best part is, there is not 1 or 10 or 100 great markets to own Vacation Rentals. There are thousands.

There are pros and cons in every market but if you start to peel back the layers of the onion and really understand the profit drivers in a particular area you will not be dependent on what the market is doing to dictate your profitability.

One of the best parts about VR as an investment is that we have the ability to maximize the profitability.

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The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

.

Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

.

For more content and expert advise, visit www.LifestyleAssetUniversity.com

Meet one of our LAU Charter Members, KimBerly Keyton.  KimBerly is a full time real estate investor who focuses on multi-family properties.  KimBerly lives in Placerville, CA, she has an amazing story and a unique perspective on the short term rental industry.  KimBerly shares some of her insights and lessons learned from her years of experience in the real estate investing game.  

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The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

.

Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

.

For more content and expert advise, visit www.LifestyleAssetUniversity.com

Meet one of our LAU Charter Members, Jeff & Jamie Child.  Jeff & Jamie join us to share some of their lessons learned in their first 12 months of getting into the vacation rental business.    Jeff and Jamie are from West Haven, UT and are just finishing up building 5 vacation rentals.  They sold an RV dealership this past year and are getting into vacation rental ownership full time as the next chapter of their lives.  There were some bumps in the road with the build job with many lessons along the way.  They have an amazing story to share about their journey getting to this point.   You can check out Jeff and Jamie's Lifestyle Asset at www.ZionVillage.com

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The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

.

Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

.

For more content and expert advise, visit www.LifestyleAssetUniversity.com

Meet one of our LAU Charter Members, Jeff Weaver.  Jeff joins us to share some of their lessons learned in their first 6 months of vacation rental ownership.    Jeff and Jessica are from Atlanta, GA and purchased their first Lifestyle Asset in Destin, FL.  They hit the ground running and will conservatively make over $150k in revenue in their first year of ownership.  It was a wild ride with many lessons along the way.  They have an amazing story to share about their journey getting to this point.   You can check out Jeff and Jessica's Lifestyle Asset at www.DreamWeaverDestin.com

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The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

.

Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

.

For more content and expert advise, visit www.LifestyleAssetUniversity.com

Meet one of our LAU Charter Members, Dave Sivulich.  Dave joins us to share some of his lessons learned in his first year of vacation rental ownership.    You can check out Dave's Lifestyle Asset at www.StargazerStGeorge.com

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The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets.

.

Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family.

.

For more content and expert advise, visit www.LifestyleAssetUniversity.com

Over the last week the COVID-19 has heavily affected the way Americans operate. I’ve thought a lot about what that means for all of us – my family, our real estate community, our global community & our collective human family.

Some of what is going on is unprecedented, most of which is out of our control.

One thing that is within our control is how we react to the situation dealt to us.

No matter what is going on around us, we have the freedom to choose how we react to this problem. It is never a good time to hit the panic button. We will get through this together.

I’m not at all saying we should not be mindful of any potential risks. We should be mindful of our current reality and follow what the science based advise the CDC is telling us.

I believe that the current recommendations will help slow the spread of the virus and allow our health care professionals to get ahead of the situation.

First let’s talk about the obvious. The markets are a mess and that is going to affect real estate.

How exactly? We don’t know.

In the short term people may just wait and see how things shake out.