FlippinWendy Podcast

A lot of you remember the journey of the 'Comfy Cactus' and how it changed my life forever: I loved turning this property into my first Airbnb rental and look at me now as I host 17 properties! Well, let me correct that - I co-host these properties with my sisters Ashley and Erica and even though we've learned a lot in the process... we wish there was a manual on how to reduce the learning curve.

With that in mind, we've decided to sit down to talk about the journey of scaling from 3 to 17 properties, discuss how we've saved time by implementing more smart processes, and share our best tips to turn an average Airbnb experience into a 5-star raving review!

Takeaways from this episode:
-You can get your property listed on Short Term Rental websites even before the space is ready to be used.
-Tech is more important than you think when you're managing properties.
-Keep and update property guides on digital and print form.
-Coordinating supplies for multiple properties isn't a small task - use technology!
-Create templates for bookers' FAQ's to help create consistency (and save you time!).
-Have a roster that looks like an 'army of cleaners' as life happens and you'll need different availabilities at different times.
-Ensure that you also provide ample cleaning supplies for the guest.
-Have good quality amenities (including 3 ply sheet toilet paper)
-Have a 24-hour assistance people in case of emergencies.

Resources
-Breezeway app:
https://www.breezeway.io/
-Who Gives A Crap
https://us.whogivesacrap.org/

For show notes and Wendy's Airbnb properties visit:
http://flippinwendy.design/blog/podcast-episode-10

Sheets: https://rstyle.me/+RnZ6QeqE8RFf-FEyO7BNpg
Towels: https://rstyle.me/+6ywfml9IrtZbTvQLzMfn3Q

You guys know how I'm all about trying things that have never been done before (hello Shiplap Shower?) and looking for properties with unique stories! In this episode, I'm interviewing Dustin Abney from D. Alexander, which is the first owner-operated Home Hotel Collection. Dustin learned that group travelers like families and friends were being underserved in the short term rental market, and that's when he realized that he had a unique opportunity to elevate the experience of single family homes.

We talk about how the heck one raises a lot of capital to buy over 17 houses from coast to coast, how to operate them and how to create a consistent yet unique decor style in different parts of the country. Dustin explains in more detail how you can get this type of investment off the ground, how he was able to pivot during the pandemic, and how he picked the right markets for his investment.

Takeaways from this episode:
-Study your ideal customer before you make your investment: think about their habits, what they're looking for in a property and how they spend their vacation time.
-Big cities aren't great for group destination seekers (low ROI) because these cities have a low short season and real estate is expensive. Small cities tend to have very long low seasons and loose rental guidelines.
-Looking for new vacation locations every year is hard! If families or big groups like a destination, they tend to come back and book a year in advance, which is great for planning.
-If you're looking to follow Dustin's footsteps consider amenities that are unique and upscale!
-Provide a great sleep experience and elevate their experience by providing activities or amenities that most guests wouldn't have at home.
-In a time of a pandemic or economic disruption, don't wait for 'sh*t to hit the fan': reach out to your guests before they reach out to you, that way you can avoid a cancellation or listen to their concerns and try to accommodate their needs.
-Consider adding 'experiences' or products that increase the property's value like grills and outdoor seating areas.

For show notes and Wendy's Airbnb properties visit:
http://flippinwendy.design/blog/podcast-episode-9

To learn more about Dustin and D. Alexander please visit:
https://www.staydalexander.com/
https://www.linkedin.com/in/dustinabney/
https://www.instagram.com/staydalexander/
https://www.facebook.com/StayDAlexander

Thrift stores, flea markets, Estate Sales, Goodwills - they're my Kryptonite.

I can't stop myself from getting a good bargain at these places, neither can my friend Grace Carpenter. You've heard me talk about Grace multiples times before: she's an interior designer, fellow house flipper, Airbnb owner, the founder of Grace Carpenter Designs, and just like myself, loves the thrill of the thrift.

In this episode you'll hear all about the adventures of two thrifters looking for lost treasures, the different types of shoppers, and how we've become friends and 'Master Thrifters'. We discuss the tips and tricks of bargaining with sellers, how to spot good pieces and the best way to negotiate.

Also, learn how you can get pieces restored and reupholstered on a budget, the best spots to thrift in Phoenix and Scottsdale, and all the shenanigans we got ourselves into because 'the item was so worth it'!

Grace reveals her home staging and vacation rentals decor tips, how to perfectly integrate vintage with new and secondhand, and the joys of dumpster diving.

Key takeaways from this episode:
-Train your eye to spot good items.
-After you've thrifted great deals is hard to pay full price for things!
-Thrift consistently and on different days to find the best patterns.
-Good design is all about mixing and matching old with new.
-You can be a seasoned thrifter and still not being sure what items are super valuable.
-Stay open-minded: an item may not fit your home (now) but could be a great talking piece for your home rental!
-Ask your local Auto Shop if they Lacquer furniture: the finish looks very high end and it's a service that many shops take on during weekends (as a side job).
-Think outside the box when thrifting abroad: review luggage allowance prices and consider shipping items via shipping containers!
-Store-bought cushions never fit right in vintage pieces, so you'll always have to get them custom-made.

Where to find the best deals in Phoenix, Scottsdale and Arizona:
Goodwill, Humane Society, Craigslist, Savers, Offer Up, Facebook Marketplace, Online Auctions and Dumpster diving.

Connect with Grace:
https://www.instagram.com/gracecarpenterdesigns/
https://www.gracecarpenterdesigns.com/
https://www.instagram.com/p/BpSNrL_lsQU/?utm_source=ig_web_copy_link

For show notes and Wendy's properties please visit:
http://flippinwendy.design/blog/podcast-episode-8

How to hire the right contractor was such a huge hit with you guys that I had to bring him back.
My Cincinnati contractor Joe Wood, from All Round Joe is back on the podcast to talk about the most popular shower on the internet...or what Apartment Therapy named "The World’s First Shiplap Shower"!

Joe and I created this bathroom project over four years ago and believe or not, 50% of my website traffic is still coming from this project! People REALLY want to know how to make a Shiplap Shower, so on this episode we decided to explain the creative process and how we executed it, the lessons learned, and obviously, the products that we used to create 'the masterpiece of the century'.

During our conversation, we also discuss the 'Does and Don'ts' of product matching, why you should always follow the manufacturer's directions (shout out to the reps at Sherwin Williams!) and the one thing that you need to know to make this a full waterproof system!

Also stay tuned to hear about Shiplap Shower 2.0!

Takeaways from this episode:
-Be empowered to try concepts no one has tried before and be creative with materials!
-Knowledge is key: if you're unsure of how a product will react with another one, don't be afraid to pick up a phone to get some answers from the manufacturer!
-How you 'Prep' can make or break a project.
-Using our Shiplap Shower method, you'll never have to clean grout ever again!
-Take the time to experiment and test the materials before you apply it, don't rush the process.
-If you have an idea, find a contractor who is willing to do the research to make it happen.

Check out the blog for the 'How To' and the list of materials that we used for the Shiplap Shower project:
http://flippinwendy.design/blog/2016/5/18/shiplap-shower

Get connected to Joe:
https://myallaroundjoe.net/
https://www.instagram.com/all_around_joe
https://www.facebook.com/allaroundjoellc/

For show notes please visit:
http://flippinwendy.design/blog/podcast-episode-7

You pour your blood, sweat, and tears into this awesome rental you just purchased, and then suddenly, the HOA wants to shut down your Airbnb. What do you do?

Most people don't like to talk about the deals gone wrong, but I want to because I think that it's important to talk about an exit strategy when it all goes to sh*t. In this episode, real estate investor, project manager, and designer Joe Ballard joins me to talk about his experiences in the flipping and STR markets, the 'swirliness' factor, and how even an experienced property investor can make 'rookie mistakes'.

Joe started in the flipping business back in Minnesota, and made a whopping $146K profit in his first flip, erasing all of his and his wife's student debt! As a successful house flipper, he explains his strategy to 'sniff' good properties and how to get a buyer's offer above asking price in just one hour.

Joe is also a talented designer and Airbnb host, and so I asked him to share his tips on how to create a property that 'pops', when it's time to splurge, and when to do the job yourself. We got to discuss the importance of researching and doing your due diligence, even if you know 'everyone is doing short term rentals' in the complex, and what to consider when the HOA is doing everything in their power to shut down YOUR Airbnb.

In short, ALWAYS read the HOA's fine print to assess if a short term rental is legal or not in that complex!

Key takeaways from this episode:
-Do your due diligence when you're buying a property, and never take someone's word for something even if it's your own realtor.
-House flipping is about appeasing the market, following the trends, but Airbnb is all about adding character, and uniqueness to catch people's attention. It's about creating an environment that they would never do in their own home, but that grabs their attention.
-Consider creating 'impact factors' to wow potential buyers when you're working on a flip.
-Consider if the money is worth the stress: you should enjoy the process of owning an Airbnb, not dread all that comes with it.
-Enjoy the process of renovating and using free tools like Youtube: even if you don't make a profit on a property, you developed more skills that you can always use in your next investment!

State Eye Charts:
https://www.instagram.com/constructedmatter/
https://www.constructedmatter.com/products/petite-eye-charts

Joe Ballard's uniquely designed properties:
https://www.constructedmatter.com/work

For show notes please visit:
http://flippinwendy.design/blog/podcast-episode-6

Danny Brown is a Realtor and Host of the Danny Brown Talks Phoenix podcast. In this special episode, Wendy and Danny Brown sit down again to talk about what the Real Estate market looks like in a pandemic mode and how property owners can overcome any pandemic limitations in short-term rentals.

Wendy and Danny talk about how she turned short term rentals cancellations into longer stays by staying creative and how sometimes you have to be strategic about investment and being ok with the feeling of losing money to get money.

In this episode, you can get more tips on how to manage cancellations gracefully without hurting your score and how to target a new type of traveler.

Key takeaways from this interview:
-"Panicky sellers" are temporarily transforming the market.
-Think creatively about short term rental and consider the new traveler type (stranded college students and healthcare professionals).
-When purchasing a new property make sure that your expenses are under control and that you won't be in trouble in a slower economy.
-Local and suburb living is a trend that has been fast-tracked by the pandemic.
-How this market may be a good time to negotiate a property that can become a flip.
-Make sure that you have a way out even when you're considering buying a flip or another property.
-This recession isn't going to be like the previous ones, and this one will be short-lived.
-Homeowners have more equity than ever before.
-The luxury market is taking the biggest hit in this market.
-Danny thinks that the housing market is actually going to pull us forward in the new economy.


Follow Danny online:
https://www.instagram.com/dannybrownaz/
https://www.instagram.com/myriadaz_/
https://www.myriadaz.com/

For show notes please visit:
http://flippinwendy.design/blog/podcast-episode-5

What was my contractor thinking??

In this episode, Wendy shares the good, the bad, and the ugly with one of the best professionals in home renovation, Joe Wood, from All Around Joe.
Wendy and Joe go way back as Joe was Wendy's contractor for most of her house flips back in Cincinnati, and together, they've collaborated in that viral shiplap shower you may have seen all over the internet (thanks Pinterest!).

In true Wendy fashion, this episode doesn't fail to provide the no fluff , just honest truth about what makes a good contractor, the red flags that clients should look out for, and tips on how to pick the best contractor for your budget.

Take notes on the lessons that both Joe and Wendy have learned along the way, the differences between the real process and what is 'reality (HG)TV', and Wendy's genius strategy to get a contractor to stick to schedule.

Joe explains what no other contractor will, shares his thoughts on working with men vs women, the importance of hiring a contractor with workers comp, and why you should run away from a professional asking for a 50% deposit before any of the work starts.

Takeaways from the show:
-If your contractor is late for your first meeting, you can expect him to be late with your project.
-Dirty or clean truck? The way your contractor treats his truck is a good indicator of how he will handle your home project.
-Research, plan and give your contractor a scope of work: if you don't know what you want, how can your contractor know? An organized project will pay off in the grand scheme of things!
-Tracking your change orders is KEY to stay in budget!
-Never tell a contractor what your budget is, specify what you want instead and request quotes from a minimum of five professionals.
-A contractor who LISTENS is hard to find.
-No (serious) contractor will be available to work in your project immediately as the industry is booming and every professional is busy!
-Have an emergency fund of at least 15%.

Get connected to Joe:
https://myallaroundjoe.net/
https://www.instagram.com/all_around_joe
https://www.facebook.com/allaroundjoellc/

For show notes please visit:
http://flippinwendy.design/blog/podcast-episode-4

Managing 18 short term rentals can sound daunting, but the truth is ...it all comes down to staying organized, having a back-up plan, and a list of resources to pull from!

In this minisode, Wendy shares the craziest pest stories that happened in her properties, including a middle of the night emergency ordeal to deal with sneaky rodents (YIKES!), cats with a fling for chimneys... and the reality of those 24 hour pest control services!

You can't make up the sh*t that happens at short term rentals!

Listen up and take notes on Wendy's resources that include a pest-free rental, tips on how to deal with the issues in real time, and the best way to prepare for the unexpected!

For show notes please visit:
http://flippinwendy.design/blog/podcast-episode-3

The Beach Lodge is an Insta-famous property in the Channel Islands near Oxnard, CA. Tiffany Caliva is the mastermind behind the property's online success and in this episode, Tiffany explains how she found this drug den turned beach home, how it was financed, how her bold eclectic design came together and how its unusual first months on Airbnb helped launch it as a top vacation home in a not so notorious section of the California coast.
Tiffany also spills the beans on how Dwell Magazine and West Elm came knocking at her door in less than 6 months of operating her property, how she narrowed her booking platform to serve a specific audience, and finally, how she developed a unique business concept off her rental property.

Key takeaways from the interview:
-Instagram is your property's business card - you need one and you need to put effort into it.
-It's totally socially acceptable to have a closet filled with pillows and rugs.
-Tiffany's partnership with West Elm happened because she already created good content, not because of her follower count.
-A good personal story can outbid someone in case of multiple offers.
-Investing in design and functionality pay off in the long run and can make or break a vacation experience.
-Test the rental yourself for an in-depth understanding of the experience that you're providing.
-A well-curated rental will bring people who care about the property.

To learn more the Beach Lodge please visit:
www.hollywoodbeachlodge.com
To book a design consultation with Tiffany:
www.hollywoodbeachlodge.com/why-work-with-tiffany
To connect with Tiffany
www.instagram.com/thebeachlodge
www.facebook.com/TheBeachLodge/

For show notes please visit:
http://flippinwendy.design/blog/podcast-episode-2

Did you know that there are at least 8 ways to finance a property? In this episode, Wendy and Brenna Brooks (Brenlow Properties) talk pros and cons of each one when looking to finance your next flip, long term rental or Airbnb. They give real-examples of creative financing by sharing how they funded many of their 50+ properties.

Be sure to take notes on this episode! Some big takeaways:
-The right Realtor and your network are key to finding and financing your real estate investments.
-Your retirement accounts can do work for you NOW
-'Hard Money Loans' can match 'Cash Only' deals
- Use multiple funding options to creatively finance a property
- Get the lender to pay for renovations

...and most importantly: just like the Stock Market, get comfortable with the idea that you could lose money.

Got a horror funding story? Or something that the community needs to know? Share with us! DM Wendy on Instagram at @flippinwendy or visit her website at www.flippinwendy.com to share!

To connect with Brenna give her a follow and say hi on her social: https://www.instagram.com/brenlowproperties/
https://www.brenlowproperties.com/
https://www.facebook.com/brennabrooksrealtor

For show notes please visit:
http://flippinwendy.design/blog/podcast-episode-1