Get Paid For Your Pad | Airbnb Hosting | Vacation Rentals | STR Revenue Management

When you own an STR business, there will always be issues. Someone will lose their key, someone will clog the toilet, a piece of furniture will break, and then there’s the money issue.

Patrick Spanfelner was struggling with all those issues and more, all while parenting a one-year-old and a three-year-old with just one unit. He was the epitome of a hectic host. But all that changed. He's now successfully managing 39 units, including one of mine in Cali, Columbia.

So, how'd he go from a hectic host barely hanging on to a successful host who seems to hardly work?

Patrick Spanfelner has been living and investing in STR real estate in Colombia for over seven years. His current portfolio includes over 33 units. You can find his units at EXSTR Apartments and learn more about visiting, living, and investing in Cali and Colombia on his blog, The Cali Adventurer.

On this episode of Get Paid for Your Pad, Patrick joins me to discuss how learning to automate and develop systems helped him to scale to 39 units.

Listen in as Patrick shares how homing in on just one tool has made it possible for him to spend $0 on marketing and the critical strategy he uses to make every Airbnb reservation work for him now and in the future.

Are you interested in learning some of the same tricks and tips our Legends X students are using to scale your business to $1m and beyond? We have a FREE workshop that will walk you through the steps so you can implement the formula to discover your perfect guest avatar, so you have guests dying to stay at your properties. Check it out NOW!

• Patrick shares what his life was like before he learned to automate
• Patrick's #1 piece of advice for securing more reservations
• Why it's vital to determine where you add the most value to your operation
• How Patrick is using the property abundance plan to dominate the market in his area even in this economy
• How becoming an expert in his market area solved ALL of Patrick's marketing issues (hint: he doesn't spend any money on marketing)
• Why building relationships with developers is a hugely powerful scaling strategy
• How focusing on a marketing channel you enjoy will help you build your business faster and with less stress
• Patrick's top 3 pieces of advice to grow YOUR Airbnb business
• Small actionable tips and tricks you can apply in your business right now for more success
• The key strategy Patrick uses to make every Airbnb guest reservation work for him now (in the future)

Patrick on Instagram

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Short-term Rental Investment Opportunities in Colombia - Ep515

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"The ones who are crazy enough to think that they can change the world are the ones who do," Steve Jobs

Often in the busyness of working on our businesses each day, our brains try to drive us to focus on the tasks we can focus on today to get a result. So, we dig into those tasks that require a lot of physical and mental work. And, at the end of the day, we feel accomplished—and we are. 

But we want more! We dream of creating a globally recognized brand, building community, and bringing something unique to the marketplace—all while creating a memorable customer experience.

Yet we can’t make any significant traction on our dream for our STR business when we're stuck putting out fires and moving the needle at a snail's pace.

So, how can you adopt a higher-level vision, attract the right people into your story, and scale at a different level, ultimately building something bigger than you ever envisioned?

On this edition of STR Conversations, Eric and I share an update on our vision for Freewyld. In just 30 short days, things have taken off at a rocket's pace, and we've got much to share with you today.

Listen in as we share what we created with our host vision map and working with Legends X helped us discover the blueprint we needed to scale Freewyld at a different level.

We'll share the story of the discovery we made during the pandemic that helped us solidify our vision, how that clarity led to our connecting with the right people in our journey, and how you can do that for your brand, too.

Plus, we'll share some exciting news about some upcoming high-level guests we will be hosting on the show.

What is the #1 best way to build a business

How the COVID-19 pandemic helped birth the most important aspects of the Freewyld Brand

How a longing for nature and disconnecting from technology created 'Freewyld' vibes and solidified the vision

The #1 way to create a more connected business

How sharing your process becomes like a time capsule for your journey to share to help others

The most important aspect of creating a story that your ideal guest avatar can connect with

Why following people who've achieved extraordinary things helps you aim higher

Why it's vital to stay in your lane of brilliance and hire the best for the rest

Why getting super clear on what you want to build helps attract the right people to partner with you on your journey and connect to your vision

How to create a business that is truly in alignment with who YOU are

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“Earn dollars, spend pesos, that’s a very attractive proposition these days,” Patrick Spanfelner

Just 4 hours away from Miami, Cali is the 3rd largest city in Colombia. With an amazing climate year-round, exceptional nightlife, and entertainment, it's the go-to place to live a high quality of life at a low cost.

For investors, Colombia doesn't have any restrictions on foreign ownership. There's a great pool of inexpensive contractors, architects, and so forth, and affordable service. Add to that the possibility of a 10% profit after costs and the luxury of soaking up the tropical sun and investing in the emerging Latin market sounds like a great opportunity.

But investing in Colombia or any Latin foreign country can also have some big drawbacks.

So, how can you take advantage of the short-term rental investment opportunities in Colombia without the risks?

Patrick Spanfelner has been living and investing in STR real estate in Colombia for over seven years. His current portfolio includes over 33 units. You can find his units at EXSTR Apartments and learn more about visiting, living, and investing in Cali and Colombia on his blog, The Cali Adventurer.

On this episode of Get Paid for Your Pad, Patrick joins me to discuss the highlights and attractions of tourism in Cali, Colombia, and why it's the perfect place to live your digital nomad lifestyle.

We'll discuss the pros and cons of investing in the STR market in Colombia and why now is a great time to take advantage of the strength of the US dollar.

Listen in as Patrick shares the story of how one of his investments took the wrong turn, costing him most of his life savings, and how you can eliminate most of the risk when investing in STRs in a foreign market.

• Patrick shares the story of his journey to Colombia and investing in Airbnbs
• Why now is a good time to look abroad for your real estate investments
• How the heavyweight US dollar is assisting foreign investors in getting more bang for their buck
• Patrick shares the average nightly rates in Cali, Colombia
• Why it's a cash market for foreigners in Colombia
• The pros and cons of investing in Colombia
• Insider tips to eliminate most of the risk of investing in a foreign market
• The pros and cons of managing properties internationally
• Why you need a great manager if you are not planning on being 'on the ground' with your STR investments
• Patrick walks us through the legalities of paperwork for investing in Colombia
• The mix of tourists and attractions for travelers and investors
• Why Cali is such a great place for digital nomads
• The most crucial factor to consider when investing internationally

EXSTR Apartments

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If you’re an Airbnb host with a small number of units, you may not think branding is all that important.

But if you want to grow your STR business and enjoy long-term success, it’s never too soon to upgrade from host to hospitality brand.

On this episode of Get Paid for Your Pad, Eric and I sit down to discuss why it’s so important for STR hosts to build a hospitality brand and how branding is born out of the vision of what you want to create.

We walk you through the three key elements of a hospitality brand, weighing in on how branding informs every decision you make—down to the soap and toilet paper you choose for your STRs.

Listen in to understand why a hospitality brand is so much more than a logo and learn how to take the first steps in branding your Airbnb business!



• Why we hired a creative director for Freewyld and what the role entails
• The 3 key elements of a hospitality brand—visuals, language and product
• The power of thinking BIG and sharing the idea behind your brand with others
• The misconception that a brand is simply a name and a logo
• How a brand is born out of the VISION of what you want to create
• How branding informs every decision your make for your short-term rentals
• What I love about some of my favorite hospitality brands
• Why it’s a problem when the branding doesn’t align with the guest experience
• Why branding is important for both big and small vacation rental companies
• How to start building a brand by creating a host vision map and vibe book

Freewyld on Pinterest

Strawberry Creek Village

Shangri-La Hotel

CitizenM

This Is Marketing: You Can’t Be Seen Until You Learn to See by Seth Godin

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Do you dream of growing your short-term rental portfolio to tens or even hundreds of units?

Yes, a successful host can invest their profits in buying additional STRs. But it doesn’t take long to run out of your own money.

So, what if you could use other people’s money to purchase more vacation rentals? How does it work to fundraise capital from investors for your STR business?

Daniel Kalenov is Chief Investment Officer at Diversus, a boutique private equity firm that invests in luxury hospitality and affordable housing. Since 1999, Daniel has analyzed, purchased, repositioned and managed income-producing real estate assets, and he has an MBA from Harvard Business School.

On this episode of Get Paid for Your Pad, Daniel joins me to explain how his mother’s experience with the stock market inspired his interest in real estate investing and why he made the shift from single-family rentals to the STR industry.

Daniel shares his best advice for hosts who want to grow their portfolio through fundraising, describing how a private equity fund works and how to educate prospective investors on STR opportunities.

Listen in for insight on partnering the right deal with the right investor and learn how Daniel has built a global portfolio of ultra-luxury STRs, mobile home parks and boutique hotels.

• How Daniel and his mother emigrated from Russia to the US
• Why Daniel’s mother lost much of her retirement savings and how that experience led him to real estate investing
• What inspired Daniel’s shift from investing in single-family rentals to the STR industry
• How Daniel’s private equity fund was born when he ran out of his own money
• Daniel’s advice to STR hosts who want to grow their portfolio through fundraising
• Why Daniel suggests sitting down face-to-face to educate prospective investors around the opportunity in STRs
• How Daniel explains private equity as pooling money from individuals to fund a real estate deal
• How Daniel leveraged fundraising to scale his portfolio
• Why Daniel focuses on luxury hospitality and affordable housing
• Daniel’s 2 boutique hotel projects in Belize and why he chose that market
• Why it’s crucial to couple the right deal with the right investor

Diversus Fund

Diversus Fund on LinkedIn

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Rental with a View

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Are you a problem solver who understands everything from products to systems and people to profit?

Have you built a STR business with over 100 listings?

Have you ever thought of becoming a coach?

If so and you want to find out how you can get started impacting people’s lives and businesses, this episode is for you.

Teaching something to another person or helping them get started in your space elevates both of you and enables you to become a better CEO and business owner.

And the benefits don’t stop there. Sharing your knowledge while working with influential people that are in the same business as you are while trying to solve the same problems and achieve similar goals is priceless.

On this edition of STR Conversations, Eric and I share a new opportunity to join our Overnight Success Team as a coach.

We share what we are looking for in coaches, the requirements to join our team, and the #1 criteria we are looking for in an Overnight Success Team Coach.

Listen in as we share our insight into how great coaching trickles down into your entire organization and how major YouTube phenomenon Mr. Beast has become legendary by reaching back and pulling others forward (for FREE).

Plus, we’ll share the biggest impact of being a coach from Rebecca Slivka, STR Legends X 90-Day Accelerator coach.

Do you want to join the Legends X Team as a coach? Click here to learn more and apply for the role.

Want to be a part of the 5th Legends X Short-Term Rental Accelerator class beginning October 17? Applications are still open. Apply NOW!

• How surrounding yourself with strong coaches forces you to grow for more impact
• How you can give back in your marketplace while raising the bar for your own business
• 3 life-changing benefits you get from coaching (or joining our team)
• The BIGGEST impact of being a coach from Rebecca Slivka STR Legends X 90-Day Accelerator coach (hint: it’s not the money)
• The #1 criteria we are looking for in a coach
• The number #1 factor to consider BEFORE applying to become a coach with us
• The ONE reason you shouldn’t enter coaching
• How to step out of imposter syndrome so you can impart your knowledge to help others
• The requirements and commitment for the coaching position with Legends X

Mr. Beast's YouTube Channel

Mr. Beast on Joe Rogan

Expert Enough: The Fastest Way to Create a Career as a Go-To Authority

From Master Leasing 100+ Units to Owning Boutique Hotels with Rebecca Slivka

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Imagine seeing your short-term rental on the big screen! Production companies rent properties all over the world and pay a premium to film in those spaces.

But you won’t find film crews on Airbnb. So, how do you tap into this opportunity?

Laura Wegner is Founder of The Suite Life Whistler, a STR company out of Vancouver, British Columbia. She is also a former professional actor and advocate for the film industry with expertise in hosting production crews in her short-term rentals.

On this episode of Get Paid for Your Pad, Laura joins me to explain how to list your property with the local film commission and share her standard operating procedure for vetting a production company.

Laura discusses how her daily rate for a film crew compares to what she charges on Airbnb and describes how a crew might change your space to accommodate the script.

Listen in for insight on designing your space to attract the interest of a location manager and learn how to leverage the film industry to fill your Airbnbs.

• How Laura’s experience as an actor inspired her interest in hosting
• The Hallmark series that recently filmed on Laura’s property in Whistler, BC
• How to list your property with the local film commission
• Laura’s SOP for vetting a production company that’s interested in her property
• How Laura’s daily rate for the film industry compares to what she charges on Airbnb
• Laura’s approach to negotiating price with a film’s location manager
• The most popular days of the week or seasons for shooting a movie and how long filming takes
• Why you may have to show your property several times before you get a booking
• How a crew might change your space to accommodate the script
• How to design a short-term rental space to attract the film industry

The Suite Life Whistler

The Suite Life on Instagram

Laura on VRBO

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The number of day-to-day decisions you must make when running a business can be insurmountable. It's easy to let the creative team connection fall by the wayside.

And let's be honest, ZOOM meetings aren't the same as carving out time away from the distractions of the office with the key players of your team somewhere new where the creative juices can flow.

We've just returned from our team quarterly off-site, and today we're sharing our biggest takeaways from that experience with our listeners.

On this episode of STR Conversations, Eric and I are walking you through the BIG benefits of shutting off technology and being 100% present with your key team members. We'll share why time away from the day-to-day is vital to solving the biggest challenges in your business—no matter what size your organization is. 

Listen in for a breakdown of what precisely an off-site is and a behind-the-scenes look at our Q3 off-site for Freewyld and Overnight Success.

We’ll offer you expert insight into how the BIG corporate teams, like Instagram, Facebook, and Google, evaluate their goals and share our biggest takeaways from our team off-site.

Plus, we'll share our discovery that we've been operating Freewyld as hectic hosts and the actionable steps we're taking in Q4 and beyond to change that.

If you are interested in an insider's look at the structured format we use for our off-sites, email us, and we'll get it right out to you.

• The difference in energy when the big players in a company gather to brainstorm ideas
• The first thing to do during your off-site to get the creative juices flowing
• Why shutting down technology is the key to solving the biggest challenges in your business
• How 90-day vision planning impacts your goals
• The most important part of the off-site (hint: it's not goal planning)
• Why it's essential to take a step back from the emotional attachment to your goals
• How do you evaluate your goals according to an expert who has run BIG corporate teams for companies like Instagram, Facebook, Google
• How to develop a plan for the upcoming to ensure the success of your entire team
• The BIG difference between making it like Elon Musk and struggling as a hectic host
• Why shortcuts won't work for building a business (unless you do this)
• How making a decision empowers action
• The key difference between building an STR business and a hospitality brand

Get the Structured Off-Sites Format

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"Girls Just Want to Have Fun" and bachelorette weekends are an expanding short-term rental niche where you can charge premium rates and make bank.

But they can also come with some very BIG drawbacks.

So, how can you set the right expectations from the start so you can tap into the lucrative ‘girls trip’ market without ending up with noise complaints and destroyed property?

STR investor Kent He saw the demand for bachelorette trips in Scottsdale, Arizona, so he studied the data, took a chance, and jumped in—a move that paid off! Now, he's using his influence in the STR space to advocate for the development of affordable housing for all.

On this episode of Get Paid for Your Pad, Kent joins me to talk about why it's vital to have a niche to be successful in the Airbnb space today and how his bachelorette-themed properties are skyrocketing his revenue.

We discuss how he gathered the data to make his properties a success and the role the Get Paid For Your Pad podcast played in helping him determine when the time was right to focus full-time on his short-term rentals.

He'll share why paying attention to the smallest details makes the most impact in the girl getaway niche and how to bring your vision for your properties to life to give your guests an unforgettable 5-star experience.

Listen in as Kent shares the 4 questions he uses to screen out problematic guests and the policies you must have in place if you want to successfully host girls weekends at your Airbnb properties. Plus, how a beauty bar and a Peloton bike help them attract right guest avatar.

• Why you need a niche to be successful in the Airbnb space today
• How Kent’s company uses their property names and images to draw in guest
• How over-delivering on the small details delivers the best experience possible for all girl getaways
• The 4 questions Kent and his team use to vet their guests (and screen out problems)
• The critical policies you need in place if you want to host bachelorette parties
• The life-changing thing Kent learned from listening to the Get Paid for Your Pad podcast
• How Kent and his team are using their Airbnb listings to debunk the myths and expand their mission for affordable housing for all

Kent on Instagram

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Girls trip @Spa de Solei

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Fueled by the increasing demand for rentals for digital nomads and the uptick in regulations by cities on short-term rentals, medium-term stays are now the fastest-growing category on the Airbnb platform.

So, how can we jump into the medium-term market and get all the benefits of investing in Airbnbs without the hassle of turnover or the risk of changing city regulations?

Zeona McIntyre has been an Airbnb host since 2012 and owns 12 long-term, mid-term, and short-term units. As an avid real estate investor who owns and manages a double-digit portfolio, she teaches listeners how to achieve financial freedom through real estate on her podcast, Invest2FI. Zeona is the co-author of the soon-to-be-released book, 30-Day Stay: A Real Estate Investor’s Guide to Mastering the Medium-Term Rental.

On this episode of Get Paid for Your Pad, Zeona joins me to talk about what constitutes medium-term and the advantages of these types of rentals.

Listen in as Zeona shares some insider tricks for finding more customers, managing your calendar, and the special touches she adds to make her guests feel at home in her medium-term rentals. Plus, she reveals her secret insider trick for filling up last-minute bookings.

• Which type of rental is the most hands-off (and which is the intensive)
• The difference in ROI between short-term, medium-term, and long-term rentals
• How to use medium-term rentals to fill up your calendar when you are not ‘in-season’
• Where the highest demand for medium-term rentals is right now
• Where to find customers for your medium-term property rentals
• Best upgrades to add to your medium-term rentals to impress your guests
• How Zeona manages her calendar to keep out the gaps in stays in her rentals
• Zeona's SECRET for filling up last-minute bookings

Zeona McIntyre

Zeona on Instagram

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What You Should Know Before You Buy Property with Zeona McIntyre EP110

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