By Tom Swan
5
3939 ratings
The podcast currently has 13 episodes available.
When searching for properties, what’s the first thing that draws your attention? The photos, right? Does the place look warm and inviting? Are the rooms bright? Do you feel happy just by looking at the pictures? 90% of the time, people make decisions based on what they see and feel when looking at the images. In this episode, I will walk you through the basics of staging and photography for your short-term rental properties. Great photos with eye-catching colors that capture the vibe of your property serve as your sales pitch and help make your STR business successful.
“The photographs are so important. They are your entire sales pitch.”
- Tom Swan
In This Episode:
- One thing I can’t stand to see online, especially on Airbnb and Vrbo.
- Why is it essential to have good photographs of your property?
- How do you stage your property well and get good photos?
- Should you hire a professional photographer or a design team?
Connect with Tom Swan:
- YouTube
- TikTok
Are you excited to receive guests on your property? In this episode, we will discuss how to set up your listing on platforms like Airbnb and Vrbo and what you should look out for. If you have everything ready, it could take you one to two hours to set up your listing the right way. You need essential information such as the property description, a headline that draws people's attention, and a few other things. So let's get into it.
“You want to make sure you have a dynamic pricing tool that adjusts your price according to market, your seasonality, or any events or special occasions that are going on.” - Tom Swan
In This Episode:
- The first place you need to go when setting up your property and why.
- A simple trick to make sure your property stands out from the listing.
- Why do you need to “unlist” your property as soon as the listing goes live?
- Schedule the properties that you can book 90 days out.
- Pricing strategy for properties that can be booked six months out.
- Why I don’t recommend that you turn on the smart pricing functionality.
- Don’t skip this step to make sure you don’t get double-booked.
Resources:
The STR Launch Method
PriceLabs Dynamic Pricing Tool
Beyond Pricing Tool
Connect with Tom Swan:
- YouTube
- TikTok
One of the most essential parts of setting up your property is building it out the right way. Essentially, you must ensure that your property is built for great photography. That is what's going to separate you from your competitors. You want to set your property up so it looks great in the photos. Unfortunately, most people miss this point. Remember, you want to make sure that your property stands out from the rest, and the first thing that catches people’s attention is the photos. In this episode, I discuss the key factors that will make guests choose your property over hundreds of other properties as soon as they look at the photos. This is a simple yet super important step to keep your property booked.
“When you set up your property the right way, you're going to differentiate your listing versus everyone else's.” - Tom Swan
In This Episode:
- Don’t make this mistake that most people do.
- 3 things you have to consider when setting up your property.
- What furniture, decorations, colors, and themes work best for your property? You want to make sure you get this right.
- Should you provide entertainment like board games? There’s a reason I prefer big entertainment items instead of board games and items with small parts.
Resources:
The STR Launch Method
Connect with Tom Swan:
- YouTube
- TikTok
There’s a lot of debate about the type of property you should use for STR. You can use properties like single-family homes, duplexes, condos, etc. But I prefer single-family homes. I discuss the pros and cons of using each property type in this episode. Whatever property you choose, make sure you do your due diligence. Have a clear agreement with your landlord and provide your guests with an excellent experience. If you can make it work, then go for it.
“Single-family homes give you the most flexibility out of all these property types. With a single-family home, you have an entire home to yourself.” - Tom Swan
In This Episode:
- What type of properties do I prefer for my STR business?
- Pros and cons of using Time-Shares and Resorts and why I do not advise using these property types.
- Pros and cons of using Apartments for your STR business.
- Pros and cons of using Condo units for your STR business.
- Pros and cons of using Duplex or Fourplex units for your STR business.
Connect with Tom Swan:
- YouTube
- TikTok
Today I’m going to break away from the fundamentals of short-term rentals and discuss something super important. If you have a full-time job but dream of building your business, you have to make sacrifices initially. You can focus on your short-term rental business after your regular work hours or during the weekends. You can build this business from whatever free time you have. And most importantly, you have to shift your mind and break out of the employee mindset. So how do you do that? That’s what I will share with you in this episode of Arbitrage to Equity.
“Know what your goal is and stay focused on that.” - Tom Swan
In This Episode:
- How reframing your mindset can change your life.
- Helpful resources to reframe your mind.
- Employee Mindset vs. Entrepreneur Mindset and why I recommend STR.
- What can daily affirmations do for you?
- Are you thinking BIG? What is your dream life? There is no limit to what you can achieve.
Connect with Tom Swan:
- YouTube
- TikTok
One of the biggest questions I get asked is, “What is the best market for short-term rentals?” I don’t think there's one best market. There are several factors to consider. But ultimately, the best market is the one that works best for you and makes you the most money. Let me give you some examples. Plus, I will share some tips on what to do when you're just starting out and when you decide to expand to different markets.
“I don't think there’s one best market, but there are some markets that are better than others.” - Tom Swan
In This Episode:
- How to find the best market anywhere in the world.
- The reason it’s better to stay close to home when you're just starting out.
- Things you have to think about when you decide to expand to different markets
Connect with Tom Swan:
- YouTube
- TikTok
Do not consider this legal or financial advice. I want to share my experience and what works for me. When I first established my businesses, I structured them all incorrectly. How is that possible? I opted to go the easy and not-so-expensive route, so I hired rocket lawyers. There's nothing wrong with them, except that’s not really the way you would want to establish your business entity. To protect yourself and your business, you must ensure you have limited liability if anything happens. So today, I’ll share with you what I have learned about the proper way to structure your business entity with the help of professionals.
“You want to protect yourself first when you’re starting a business. You ultimately want always to protect your assets and every penny, every dollar that you have; you want to protect all of that.” - Tom Swan
In This Episode:
- Why should you structure your business as LLC?
- How does establishing a holding company protect you and your business?
- Who can help you set up your business structure properly?
Resources:
Sign up for a Free Consultation at Prime Corporate Services
Connect with Tom Swan:
- YouTube
- TikTok
When you're just starting out, trying to find the best property can be daunting. I recommend that you do everything you can to learn about the business. In today’s episode, I will give you some basic information you need to know when searching for your first property. There are some tools you can use and factors to consider to determine if the property is a winner. So join me as I walk you through finding the most profitable property in the market.
“Finding properties are kinda’ like mining for Gold.” - Tom Swan
In This Episode:
- When looking for properties, should you go local or global?
- Where do you find properties?
- Factors to consider when looking for properties and renting them out.
- Navigating the seasonal requirements and knowing how to work the system.
Connect with Tom Swan:
- YouTube
- TikTok
In 2021 I was doing well in my business, but I wanted to expand and open up 6 to 8 houses the following year. As soon as I made a commitment, opportunities started popping up everywhere. People came to me offering to sell their businesses, and I knew I could make improvements and manage those businesses better. What many people don’t always talk about is that there’s a simple way to hack your growth and fail-proof your business. That’s what you will learn in today’s episode.
“Buying businesses is a great way to move yourself forward into this business and grow no matter where you are.”
- Tom Swan
In This Episode:
- How making a commitment opened up a lot of opportunities for me.
- What a lot of people don’t talk about.
- The secret to entering this business and hacking your growth.
Connect with Tom Swan:
- YouTube
- TikTok
There are a lot of misconceptions in this business. Today, I will discuss the three biggest ones and tell you the truth. You can start your short-term rental business without owning a property. That’s what arbitrage is all about. You can have a property anywhere. People travel for different reasons in all parts of the world. So there’s no shortage of opportunity in this business. You just have to know what to do. And that’s what I’m here to teach you.
“You can make this business work anywhere that people are traveling.” - Tom Swan
In This Episode:
- Misconception #1: You need to have a vacation house
- Misconception #2: You have to own a property
- Misconception #3: You have to be in a great area
- How to make your short-term rental business work
Connect with Tom Swan:
- YouTube
- TikTok
The podcast currently has 13 episodes available.