In this episode of The Real Estate Experiment, host Ruben Kanya dives into the importance of building a brand and becoming the key person of influence in your industry, whether it be as a realtor, flipper, short-term/midterm rentals operator and/or multifamily investor. Ruben emphasizes that constantly reminding people in your network what you do and strategically networking with thought leaders in the space are crucial components of building your brand. By attending conferences, participating in podcasts, and sharing your experiences, you can demonstrate your dedication and commitment to your industry. Ruben also stresses the importance of giving your audience a direct call to action to let them know how they can work with you or partner with you. Building a brand as the key person of influence is critical for success and fast growth in the real estate industry. Don't take it lightly!

#influence #keyperson #branding #realestate

Mercedes Sanchez is a highly successful entrepreneur who founded MBX Homes, a unique STR Co-Hosting / Management Company that provides exceptional vacation rental experiences for clients and guests.

With a career that began in the food and beverage department at Four Seasons, she worked her way up the ladder until she was unfortunately let go due to the pandemic. Despite this setback, Mercedes was not deterred. In the same week, she started managing apartment units for her uncle which she converted to Airbnbs.

Today she manages 38 properties and leverages her expertise in short-term rentals to innovate and grow her company. Not only does she specialize in Airbnb Rentals, they also promote their homes for productions and film opportunities on billing per hour rate. Drawing from her experience in high-end hospitality at Four Seasons, she sets up effective systems and solves problems in the industry. In our conversation with her, Mercedes shares her insights on the transition from Four Seasons to co-hosting, building partnerships, nurturing relationships, and implementing effective systems to achieve success in the highly competitive vacation rental industry. Don't miss out on our conversation with Mercedes. If you’d like to hear how you can strategically implement true and tested strategies from the highest end operators in the industry and how it can be implemented in your own co-hosting business — Mercedes is more qualified then anyone to share the insights. Tap in!

HIGHLIGHTS OF THE EPISODE:

11:36 Mercedes talks about making your brand stand out from the competition

34:22 Mercedes talks about seeking help and partnerships

KEEPING IT REAL:

09:05 Insight about hospitality

11:36 What separates the brand from the pack

12:49 Beginnings in food and beverage

16:06 Gaps in the hospitality industry

17:20 Transition from high end hospitality to Airbnb

19:23 MBX homes and what it stands for

23:30 Putting in the work

30:40 The insight that said Airbnb is a good idea

33:09 Taking action and partnerships

36:28 Mercedes' Airbnb model

41:58 Offering different services

45:23 Building relationships

51:32 This MBX Home 'thing'

54:27 Time for building systems

01:03:04 What's next for MBX

01:09:32 Building relationships with production companies

01:11:36 Getting ahold of Mercedes

NOTABLE QUOTE (KEY LESSONS):

“You have to find partners to better your business and better you. And it could be as simple like hiring, even if you have one or two Airbnbs, a partner could be like a great cleaning crew. It does not have to be like a financial partner. It does not have to be like a company like you.” - Mercedes Sanchez

CONNECTING WITH THE GUEST

Website: https://mbxhomes.com/

Instagram: https://www.instagram.com/mbxhomes/

Tiktok: https://www.tiktok.com/@mbxhomes

Youtube: https://www.youtube.com/channel/UCQOrBWTaLoUH5xeA6EGuAXw

Facebook: https://www.facebook.com/MBXHOMES

Linkedin: https://www.linkedin.com/in/mercedes-sanchez-3b8a2464

Buckle down Experiment Nation, because we’ve got a treat of an episode for you. Today, we have the one and only Shawn Moore, Founder and CEO of Vodyssey, THE NUMBER ONE vacation rental investing education company in the world. Shawn and his team are dedicated to helping individuals achieve a lifestyle of financial freedom by providing resources and guidance that gets you to the top!

But here’s the kicker - Shawn didn’t start out on top. In fact, he lost everything at one point during 2008, and made an even worse decision before that, selling ALL his 52 single family rental properties. But he bounced back stronger than ever by niching down to short-term rentals, and elevating that further into the global investing education that he has today.

After 22 years in the game, Shawn has been through it all, and he is clearly qualified to talk about the pitfalls, challenges, and the tactics to make it in the real estate investing world. We got into the nitty-gritty of what separates successful people, and how building your self-identity is key to achieving your goals. And that’s just the tip of it, we also dive deep into how his programs educate other investors into really getting started, and narrowing down your goals into a laser-focus precision.

If you believe that vacation rentals are a great vehicle towards financial freedom, this episode with Shawn is the validation (and game plan) you’ve been looking for. Settle in, and get ready to learn from a true practitioner. Watch and listen to Shawn spill all the vacation rental investing knowledge you could ever want, while wearing the coolest cowboy hat to boot. Saddle up and let’s build!

HIGHLIGHTS OF THE EPISODE:

30:18 How to really build wealth

14:52 What separates successful people

KEEPING IT REAL:

2:49 What does Shawn do?

4:07 You're not an investor unless

8:57 From losing it all in 2008 to STR niche

13:10 Marker

14:52 What separates successful people

18:56 If there's something you don't want to do

21:04 Ad

26:54 Building your self-identity

28:24 Do people know how to build wealth

30:18 How to really build wealth

33:25 What is Vodyssey's blueprint

37:19 Leveraging third-party asset management

39:17 Economies of scale with management

42:06 The more clear you are on your goals

45:37 What's next for Vodyssey

47:47 What an owner needs to understand

NOTABLE QUOTE (KEY LESSONS):

“You’re not an investor if you don’t actually own investments.” – Shawn Moore

CONNECT WITH THE GUEST

Website: https://www.lifestyleassetuniversity.com/

Facebook: https://www.facebook.com/vodysseyofficial/

Linkedin: https://www.linkedin.com/in/shawn-moore-393454173

2,000 nights as a guest, six continents, and over a hundred cities, Daniel has been living permanently in Airbnbs for the last seven years. He couldn’t have introduced himself any better but that isn’t even the most interesting part about today’s episode. Like we always say, we love true practitioners here in the lab, and none more verified than Daniel, who’s journey took him from wanting to be the best accountant to building his own consulting firm.

Daniel Rusteen began his CPA Accounting career at Airbnb but it didn’t feel right because to Daniel, if you can’t be the best, then you’re on the wrong path. Airbnb, before its popularity, encouraged their employees to host. Around this time, Daniel had already been hired and fired by Airbnb, and was now at the cusp of being rehired again in a different department. That was when Daniel took on Airbnbs referral program and performed incredibly. It was obvious he could pull it off without working as an employee, so he ditched the CPA life in exchange for the unknown and it paid off! And that isn’t even the most interesting part of this episode!

Daniel breaks it down with us, about how you can optimize your Airbnb, how to look for profitable properties using ‘soft stats’, what makes people stuck, how to get unstuck, and his experience during his time working at Airbnb. A collection of invaluable expertise built through years of experience, that you can only find with guests here at the lab. This episode is a peek into the mind of an expert who’s worked with Airbnb, stays at Airbnbs, and now writes and consults about Airbnb management. It can’t get any better than that.

Oh but it can, because listeners can get an exclusive discount when you purchase his book here https://www.amazon.com/dp/B0BZBS4C4F. Use code LABVERIFIED23 to get your 50% discount. This will only be available for three months, so get yours now and let’s build!

GUEST SUMMARY

Get Your Airbnb Millionaire Blueprint: https://experimentrealestate.com/#blueprint

HIGHLIGHTS OF THE EPISODE:

22:48 How to get unstuck

42:57 There is no go-to thing; just ‘one in a hundred’

KEEPING IT REAL:

03:04 Daniel’s Airbnb story

09:38 Hosting in San Francisco before Airbnb got famous

12:16 Airbnb wanted their employees to host

14:08 Getting fired from Airbnb

17:52 Airbnb hired me back

20:51 Ditching CPA life Airbnb property management

22:48 How to get unstuck

25:15 Going into the unknown

32:03 You don't have to have a hundred properties

37:48 What makes a property profitable

42:57 Optimizing Your Airbnb

49:35 What you should include in your title

51:25 Rapid fire questions

54:12 Giving an extra star for reviews

56:36 The item that is missing the most

58:28 What is next for Daniel

59:41 What is a minimalist travel

1:10:17 Closing

NOTABLE QUOTE (KEY LESSONS):

“You don’t have to have a hundred properties to be a successful Airbnb short-term rental host.” – Daniel Rusteen

CONNECTING WITH THE GUEST

Youtube: https://www.youtube.com/c/OptimizeMyAirbnb

Instagram: https://www.instagram.com/optimizemyairbnb/

Twitter: https://twitter.com/Optimizeairbnb

#propertymanagement #minimalist #shorttermrental #airbnb #optimizeyourairbnb

Ruben highlights the importance of attending conferences such as the STR Wealth Conference to meet like-minded individuals who can provide valuable insights and support on your journey. He explains that networking is not just about collecting business cards, but rather about building genuine relationships that can help you grow both personally and professionally.

Throughout the episode, Ruben shares tips and strategies on how to network effectively, emphasizing the importance of being authentic, listening actively, and following up with people after the initial connection has been made.

The Real Estate Experiment is a must-watch for anyone looking to learn more about real estate investing and how to build a strong network of like-minded individuals to support them along the way. 

Get Your Airbnb Millionaire Blueprint: https://experimentrealestate.com/#blueprint

Get coached on how you can repurpose your existing home or investment property into an Airbnb with me: https://experimentrealestate.com/hospitable-hosts

Guesty Unique Link: https://hosts.guesty.com/?=therealestateexperiment

Hospitable Hosts book: https://amzn.to/3e4LEhE

Rich Somers is an active real estate investor and entrepreneur holding a portfolio of real estate valued in excess of $50 Million. Rich hosts a real estate and business podcast, “The Rich Somers Report”, where he interviews top real estate investors, entrepreneurs, and athletes from all over the world. Today, we have him in the lab to ourselves!

A true practitioner, Rich is the CEO and founder of two real estate businesses: Somers Capital and FortuneCribs. Somers Capital is a vertically integrated boutique hotel investment firm, composed of industry-leading executives, while FortuneCribs is a technology & data-driven real estate investment & management firm.

With an in-house property management company and a direct booking platform under his belt, Rich and his firm are able to perform at levels superior to competitors. In this ‘rich’ episode, Somers dives into the world of scaling from short term rentals (single families) to boutique hotels with a unique background having started his portfolio in multifamily. Rob is able to share valuable insights on the differences between underwriting hotels vs. multifamily apartments, including value-add strategies and tech stack implementation to master significant returns for investors.

This episode is an absolute must-watch for short term rental operators looking to level up in a niched opportunity within the short-term rentals/commercial real estate industry. Learn from Rich's rich experience.Tune in now and Let's Build!

HIGHLIGHTS OF THE EPISODE:

07:31 Rich talks about scaling STRs and getting into boutique hotels

17:33 Rich talks about how underwriters value hotel and multifamily

KEEPING IT REAL:

01:50 Context on what Rich does

04:21 Social media or first deal, what came first?

07:36 Deciding to go bigger

09:43 What changed in the multifamily landscape

11:37 Can multi family operators run a hybrid?

13:54 Do lenders see hybrids as unstable

17:31 Underwriting for hotels and multifamily

22:57 Rich's Airbnb experience

26:08 No money down program

28:20 Scaling to boutique hotels

29:43 Expenses and money makers in boutique hotels

31:14 Value adding for boutique hotels

34:53 What's next for Rich Somers

37:37 Advice for anyone who's interested in boutique hotels

39:15 Loan products for a hotel

43:14 Where to connect with Rich

CONNECTING WITH THE GUEST

Website:  https://somerscapital.com/

Instagram: https://www.instagram.com/rich_somers/?hl=en

Linktree: https://linktr.ee/richsomers

Get Your Airbnb Millionaire Blueprint: https://experimentrealestate.com/#blueprint

Get coached on how you can repurpose your existing home or investment property into an Airbnb with me: https://experimentrealestate.com/hospitable-hosts

Guesty Unique Link: https://hosts.guesty.com/?=therealestateexperiment

Hospitable Hosts book: https://amzn.to/3e4LEhE

#shortermrentals #boutiquehotels #Airbnb #scaling #multifamily

In this episode of "The Real Estate Experiment" podcast, host Ruben Kanya talks about the importance of overcoming self-sabotage to achieve your goals. He stresses the need to remove limiting beliefs and barriers that prevent you from taking action towards your goals. Ruben encourages listeners to ignore the little voice in their head that puts doubt in their heart and instead take action, which will create momentum to move forward.

Get Your Airbnb Millionaire Blueprint: https://experimentrealestate.com/#blueprint

Get coached on how you can repurpose your existing home or investment property into an Airbnb with me: https://experimentrealestate.com/hospitable-hosts

Guesty Unique Link: https://hosts.guesty.com/?=therealestateexperiment

Hospitable Hosts book: https://amzn.to/3e4LEhE

#selfsabotage #barriers #goals 

Amanda Han is a highly accomplished tax strategist and real estate investor, known for her expertise in working with real estate investors to develop tax-saving strategies. With over a decade of experience in the industry, including time with one of the Big Four accounting firms (Deloitte), Amanda brings a unique blend of financial expertise and real-world investing knowledge to her work. She co-founded Keystone CPA with her husband and immediately saw the need for real estate investors and tax savings, so they bridged that gap.

Today, Amanda has helped countless real estate investors navigate the complex world of tax laws and develop strategies to minimize their tax liabilities and maximize their profits.

Amanda's impressive portfolio includes a range of long-term rental properties and real estate syndications (catch that at the end of the episode). She is the co-author of several books related to real estate investing and tax strategies, including "The Book on Tax Strategies for the Savvy Real Estate Investor" and "The Book on Advanced Tax Strategies." Her work has been featured in Forbes, CNBC, and Fox Business, among other media outlets.

HIGHLIGHTS OF THE EPISODE:

07:03 Amanda talks about translating her big firm CPA experience to regular investors

KEEPING IT REAL:

03:15 What does Amand do?

04:50 Niching down to real estate

07:03 CPA for regular investors

09:58 What hold people back from real estate investing

12:20 What investors aren’t doing

15:13 What investors should be tracking now

19:19 Thoughts on building credit

25:15 Reps tracker and other tools

26:57 Three main tax reduction hurdles

29:28 How often do people get audited

32:29 Tax strategy case studies

34:17 Extra household income

38:35 What’s next for Amanda Han

40:08 Passive investments in syndication

41:15 Where to connect with Amanda

CONNECTING WITH THE GUEST

Website:  https://www.keystonecpa.com/

Instagram: https://www.instagram.com/amanda_han_cpa/

Get Your Airbnb Millionaire Blueprint: https://experimentrealestate.com/#blueprint

Get coached on how you can repurpose your existing home or investment property into an Airbnb with me: https://experimentrealestate.com/hospitable-hosts

Guesty Unique Link: https://hosts.guesty.com/?=therealestateexperiment

Hospitable Hosts book: https://amzn.to/3e4LEhE

#taxstrategy #realestateinvesting #taxsavings #CPA #taxdeductions

In this episode, your co-host Ruben Kanya of the MTR vs. STR  Smackdown summit recap the event that occured last week featuring some of Experiment Nation's top podcast guests on a panel of top leaders in the short term rental industry who discuss the benefits of a new mid-term rental model that is gaining popularity. This new model is becoming increasingly attractive to investors who own furnished accommodations and are looking for ways to increase their revenue, occupancy, and cash flow.

The panelists include seasoned investors, property managers, and industry experts who have successfully implemented this mid-term rental model in their businesses. They share their experiences, insights, and strategies for how to make this model work for investors of all sizes.

The discussion covers topics such as the ideal length of stay for mid-term rentals, pricing strategies, marketing tactics, and how to manage guest turnover effectively. The panelists also explore the benefits of using technology to streamline the booking process, automate routine tasks, and manage properties remotely.

You can expect to come away with a deeper understanding of this mid-term rental model and how it can help them achieve their financial goals in the short term rental industry. You will also gain insights into the current trends and challenges facing the industry and learn about the innovative solutions that are emerging.

Overall, this podcast episode provides a recap of valuable insights and practical advice for investors who are interested in exploring the mid-term rental model and staying ahead of the competition in the dynamic short term rental industry.

If you haven't already tuned into the Panelist's episode on The Real Estate Experiment Podcast, make sure you do, they are masterclasses of their own:

Why Luxury Rentals are Short Term Rental Gems with Rachel Gainsbrugh Episode #181

Normalizing the “30-day Stay” in your Short Term Rental Business with Zeona McIntyre - Episode #215

Mid-Term Rental B2B Solution: Nursing Contracts & Insurance Policyholders w/ Jesse Vasquez - Ep #208

Furnished Accommodations Across Multiple B2B Verticals with Noble Crawford - Episode #206

Building A Lifestyle That Gives You Freedom through Mid-Term Rentals with Sarah Weaver - Episode #219

MTR vs STR Smackdown Summit: https://www.shorttermgems.com/offers/rzYiQTGM/checkout

Get Your Airbnb Millionaire Blueprint: https://experimentrealestate.com/#blueprint

Get coached on how you can repurpose your existing home or investment property into an Airbnb with me: https://experimentrealestate.com/hospitable-hosts

Guesty Unique Link: https://hosts.guesty.com/?=therealestateexperiment

Hospitable Hosts book: https://amzn.to/3e4LEhE

Apply for an American Express Card with this link: http://refer.amex.us/RUBENKr8et?xl=cp01&mpt=v0

#MTR #STR #smackdown