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

One of the biggest challenges of the ownership model is scaling fast. It requires capital, partners, and contractors to keep things going.

All significant challenges, especially when based in a secondary market.

In January 2018, Rob Scarborough went from real estate flipper to accidental Airbnb short-term rental host. His company, Just Like Home Vacation Rentals, based in the Kansas City Metro market, got its start on the ownership side of things. Rob, who recently completed the Legends X program, has now leveraged the tools he learned in the program to grow his company to beyond what he thought was possible.

On this episode of Get Paid for Your Pad, Rob joins me to walk us through his accidental start in the Airbnb market, the challenges of STR ownership and his 3 tips for flourishing in the ownership model.

Listen in as Rob shares ‌how he’s using his experience to segue into the property management side of the STR industry. Plus, what he and his team learned from Legends X that is helping his company scale more quickly than they ever dreamed.

• Why Rob chose the ownership model for Just Like Home Vacation Rentals
• The biggest advantage of the STR ownership model
• 3 tips for flourishing in the ownership model
• What to keep in mind when setting up your STR business
• Creative ways to find capital for your STR investment properties
• The best way to find the contractors you need in a smaller market
• The top 3 challenges of scaling the ownership model
• The tactic Rob and his partners use to force appreciation
• How Rob’s own vacation persona affects his Airbnb ownership personality
• What the COVID crisis did to solidify their business model
• How Legends X helped Rob and his team grow beyond what they thought was possible

Email Rob

Register for The Step-By-Step Plan For Scaling Your Airbnb Business to $1M and Beyond

Legends X STR Accelerator

Get Paid for Your Pad Newsletter

STR Legends Mastermind

Email [email protected]

Hosted on Acast. See acast.com/privacy for more information.

Every day through our various programs, Eric speaks with people worldwide running STR businesses, and he always asks them the same 3 questions.

They often don't have the answers because they are too tied up in the day-to-day and unclear about where they're going with their company.

But the answers to those questions could be the difference between a burned-out hectic host and owning a million-dollar Airbnb business.

So, what are those questions? And what can you do to get the clarity you need to scale your STR business in any economy?

On this episode of Get Paid for Your Pad, Eric and I announce our upcoming FREE 2-hour workshop called The Step-By-Step Plan For Scaling Your Airbnb Business to $1M and Beyond that will help you answer those questions and more.

We share the mission behind Overnight Success and discuss the key to making educated, empowering decisions that will set your STR business up for long-term growth, no matter the economic situation.

Listen in for the full details on this hands-on workshop where Eric and I will work with you to implement vital systems and processes from our 90 Day Legends X Program, giving you the takeaways you need to scale your STR Business NOW.

Click here to learn more and reserve your spot for The Step-By-Step Plan for Scaling Your Airbnb Business to $1M and Beyond TODAY!

• The Overnight Success mission statement for a successful impact on the STR industry
• How your mission statement impacts the success of your business
• Why we chose the parts of the 90 Day Legends X Program we will be sharing with you in the workshop
• The most powerful way to energize your entire team
• How to flip the switch from scarcity to an abundant mindset
• What to pay attention to NOW in your business
• The key to preparing your business for a slowdown in the economy
• The critical elements you need for ultimate growth in your STR business

Register for The Step-By-Step Plan For Scaling Your Airbnb Business to $1M and Beyond

Start with Why: How Great Leaders Inspire Everyone to Take Action

Richard Fertig on STRs in 2022

Legends X Short-Term Rental Accelerator

STR Legends Mastermind

Subscribe to GPFYP on Apple Podcasts

Email [email protected]

Hosted on Acast. See acast.com/privacy for more information.

It's helpful for property management companies to use multiple Airbnb accounts to simplify overseeing numerous properties.

But what are the pros and cons of managing several accounts? And how can you set things up for more autonomy?

Jason Sterner is the Founder and CEO of Southern Homestay, LLC. Since its inception in 2017, Southern Homestay has strived to create exceptional experiences for its guests while helping investors turn their property liability into income-producing assets through Airbnb. The company aim is to serve people well while building long-term, lasting relationships with its clients.

On this episode of Get Paid for Your Pad, Jason joins me to explain how he got started in the Airbnb space, how his family built their business and the lessons they've learned along the way.

He shares some of the challenges and payoffs of managing multiple Airbnb listings and how Southern Homestay is adding value to their business partnerships.

Listen in for Jason's insight into how to streamline multiple Airbnb accounts to grow your STR business. Plus, what he and his team learned from Legends X that helped solidify their vision for growth.

How networking helped Jason build his business

How Jason and Southern Homestay are helping people make more money by doing less

The most important decision to make when setting up multiple Airbnb accounts

The number 1 move Jason made to streamline his business and increase cash flow

The 3 best reasons to use multiple Airbnb accounts

The 2 biggest disadvantages of having multiple Airbnb accounts

How Legends X helped the Southern Homestay team crystalize their goals for the future

Southern Homestay, LLC.

Jason on LinkedIn

Get Paid for Your Pad Newsletter

Legends X STR Accelerator

STR Legends Mastermind

Email [email protected]

Hosted on Acast. See acast.com/privacy for more information.

If you're trying to build a business, you must lead other people. If you're not leading people, you just have a job.

When starting out, entrepreneurs often show up with ego, fear, and concern and try to control every situation. But that doesn't solve problems. Your ego might get a win, but you're not actually getting closer to your end goal.

So, what is leadership, really? And how can you become a better leader for your team?

On this episode of Get Paid for Your Pad, Eric and I explain why leadership is the number one skill set you need to learn to grow your business.

We'll share the difference between leaders and managers and how great leadership inspires teams to work together toward a primary goal, setting the tone for the organization's culture.

We discuss unconscious ways you might be affecting your culture and your business in a negative way and share some resources that will help you become a better leader for your team.

Listen in to understand why it's critical to build your leadership skills to grow something bigger than yourself. Plus, why leadership skills are transferable to every aspect of your life!

• 3 ways becoming a better leader will help you fulfill your business goals
• How to look at your team through the lens of a leader
• What is the pizza concept for leadership
• Solve problems vs. telling people what to do
• The 4 main elements of great leadership
• What does it mean to take radical responsibility
• The ‘90 Second rule’ for overcoming your emotions
• Why it's essential to set the standard for the future leaders on your team
• How to set the tone and communicate the culture of your organization

Extreme Ownership: How U.S. Navy SEALs Lead and Win

The Dichotomy of Leadership: Balancing the Challenges of Extreme Ownership to Lead and Win

The 15 Commitments of Conscious Leadership: A New Paradigm for Sustainable Success

Can't Hurt Me: Master Your Mind and Defy the Odds

Leadership vs. Authority | Simon Sinek

How to overcome STRESSFUL THOUGHTS (90-SEC RULE) | Tony Robbins

Steve Schwab Founder/ CEO at Casago on LinkedIn

Subscribe to GPFYP on Apple Podcasts

Get Paid for Your Pad Email List

Legends X Short-Term Rental Accelerator

STR Legends Mastermind

Email [email protected]

Hosted on Acast. See acast.com/privacy for more information.

Do you want to maximize your Airbnb rental revenue without spending hours adjusting your prices?

As Airbnb hosts, we want to set the best price for our listings to both leverage our income and increase our bookings.

But how do we do that without a lot of hands-on management?

Jeff Breece is the Head of Revenue Management at Beyond, formerly Beyond Pricing. Since 2013, Beyond has been providing STR managers and owners the tools to help them get, grow, and keep more revenue by using automated dynamic pricing for the best price every day.

On this episode of Get Paid for Your Pad, Jeff joins me to explain how to put Beyond's dynamic pricing algorithm to work for you to increase the revenue on your listings.

He shares the key areas STR business owners should examine when they start using pricing algorithm software as well as common mistakes to avoid.

Listen in for Jeff's insight into what variables to consider when setting your base price and the most important metrics to focus on to maximize your revenue.

• The most important things to focus on when you first start using a pricing algorithm
• What is the most critical listing pricing number
• Why it's vital to know the marginal cost of a night's stay for your listing
• What factors to consider when determining the highest revenue base price
• What the health score tells a STR manager
• How to use the metrics to match your minimum night stays to the market
• What is the number 1 factor that affects your STR revenue bottom line
• How to fill calendar gaps using incentives without having a 'fire sale'
• 3 factors to account for when using last-minute discounts
• The 2 most common mistakes STR hosts make when they begin using Beyond
• How your pricing strategies change as you scale
• Why it's not just about revenue, the other highly valuable pieces of the booking puzzle

Beyond

Email Jeff

Try Beyond free for 30 days

Get Paid for Your Pad YouTube Channel

Get Paid for Your Pad Newsletter

Legends X STR Accelerator

STR Legends Mastermind

Email [email protected]

Hosted on Acast. See acast.com/privacy for more information.

Hosted on Acast. See acast.com/privacy for more information.

What if you could turn openings on your Airbnb calendar into free marketing?

Jordan Kahana is the Cofounder of Stayamo, a platform that connects STR hosts with social media influencers, allowing vacation rental operators to exchange free stays for promotion from top content creators.

On this episode of Get Paid for Your Pad, Jordan joins me to explore how Airbnb hosts benefit from working with an influencer, explaining how to use lifestyle photography to market your STR and what to do if your unit isn’t Instagrammable.

He discusses why the quality of an influencer’s photos is as important as their follower count and describes how to hold a content creator accountable for delivering on your agreement.

Listen in to understand best practices for working with content creators to market your STRs and learn how Stayamo can help you connect with influencers who are the right fit for your Airbnb!

How Jordan defines a social media influencer vs. a content creator

How an Airbnb host benefits from working with an influencer (i.e.: content, exposure, etc.)

Using lifestyle photography to market your Airbnb

Why Jordan recommends offering a 2-night window for an influencer to stay for free

Why the quality of an influencer’s photos is as important as follower count

What to do if your Airbnb isn’t Instagrammable

Best practices for working with an influencer to market your STR

Why Jordan suggests asking influencers to book your unit through Airbnb

How to set up an account and find influencers on Stayamo

How influencers benefit from building relationships with STR hosts

Stayamo

Legends X STR Accelerator

Email [email protected]

Hosted on Acast. See acast.com/privacy for more information.

Things are changing and evolving in the economy, and with rising rents and fluctuation in the real estate industry, it was bound to trickle down into the STR market.

This week Sonder, one of the biggest short-term rental companies in the world, announced it is cutting 20% of its workforce.

On this edition of STR Conversations, Eric and I walk you through Sonder's announcement, their first-quarter losses, and the reality of the over-leveraged master leasing model in a post-Covid market.

We discuss what we believe the forecast will be for the STR industry as the crowds return to travel with the current economic correction filtering into cost-of-living increases across the board.

Listen in to learn how to position yourself to ride the waves. We’ll offer insight into how to take advantage of the opportunities in real estate and diversify your income streams to handle any season and situation in your STR business. Plus, the two places that are always worth investing in, no matter the economy.

Would you like a sneak peek at our STR Legends LIVE event happening June 16th - 20th, 2022, at an incredible beachfront STR property in Oaxaca, Mexico? We'll be sharing stories and photos on social media, so follow Jasper on Instagram and Eric on Instagram and search the #STRLegends hashtag.

What economic factors led Sonder to this point

The critical importance of scenario analysis

How STR entrepreneurs can position themselves to take on more real estate in this market

How to put yourself in a position to put OPM - other people's money - to work for your STR business

Why diversifying is the key to survival and even success in a downturn

The 2 critical area to invest in now for more stability in any economy

Sonder Restructuring to Include Layoffs, Growth Limits

Winter is Coming...But When? Tony Robbins Podcast

The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness

Steve Schwab Founder/ CEO at Casago on LinkedIn

Get Funding to Grow Your Airbnb Portfolio with Nectar (Ep444)

Join the Overnight Success Team

Legends X STR Accelerator

Jasper on Instagram

Eric on Instagram

Subscribe to GPFYP on Apple Podcasts 

FREE Airbnb Starter Guide

STR Profit Academy

Overnight Success

Email [email protected]

Hosted on Acast. See acast.com/privacy for more information.

In this economy, traveling millennials and more are flocking to destinations based on their desire to fill their social feeds with swoon-worthy pictures from Instagrammable destinations.

Late to the Airbnb game but ready to take the plunge, my guest Jeff Brown, the Co-Founder at Loma Homes, did the research, and the results told them Orlando was the place to be with excellent profitability potential.

But upon closer inspection, they found out there were 10s of thousands of vacation rentals in the highly competitive theme park mecca. To stand out and be competitive, they would need to differentiate their units in a BIG way.

On this episode of Get Paid for Your Pad, Jeff joins me to share how Loma Homes partnered with specialty contractors to create their sought-after properties. With names such as Once Upon a Castle and Pirates Pearl and showcasing amenities such as a Cinderella carriage bed and Southern-style wraparound balconies, Jeff and his team have taken leveraging Instagram-worthy destinations to a new level.

Listen in as Jeff walks us through some affordable ways STR hosts can add a theme to a unit to give it that photo-worthy luxury quality without breaking the bank. Plus, he shares his insight into the opportunities available in the current Airbnb model and why now is still an excellent time for entrepreneurs and investors to jump into the STR market.

• How Jeff and his team worked with custom contractors to create custom beds, fog machines, and lighting effects for their themed units
• Why location, location, location is more important now than ever
• How to invest in resort areas with high seasons for peak income flow
• Jeff’s take on the current opportunities available in the Airbnb model
• What Loma Homes is working on now to compete in the current market and beyond
• Why Jeff thinks now might be the perfect time to jump into the STR market

Loma Homes

[email protected]

Get Paid for Your Pad YouTube Channel

Outdoorsy

Legends X STR Accelerator

STR Legends Mastermind

Get Paid for Your Pad Newsletter

Email [email protected]

Hosted on Acast. See acast.com/privacy for more information.

We all have BIG things we want to achieve in our personal lives and our businesses.

But did you know that unless you get clear on what you really want to accomplish, you can get overwhelmed in building your business without ever achieving your big-picture vision?

On this edition of STR Conversations, Eric and I walk you through how to accomplish more in your business and personal life through effective goal setting.

We discuss the two biggest mistakes entrepreneurs make when setting goals plus and we’ll walk you through the 3-step action plan we use for setting goals in our businesses.

I’ll share a story of a personal goal I’m working to achieve, my WHY, and my action plan to get there, and Eric will share a tool he uses to stay on track when he feels like giving up.

Listen in to learn the importance of setting compelling North Star goals for your business and the steps you need to take to get laser-focused so you can achieve them. Plus, the most powerful thing you can do today to reach your biggest goals.

• Why both small goals and big goals require the same process to achieve
• The bucket and rocks goal action plan for reaching more of your targets
• Two tools to help you stay accountable to your big picture goals
• The one move that gets your subconscious involved and tells your brain to go to work on achieving your goals
• The gut check to make sure you are setting the right goals for yourself and your business
• The most powerful step you can take each day to achieve your goals
• How to determine if your action plan is getting you closer to your goals
• The big difference between reevaluating and giving up on your goals
• The number 1 thing you can do to achieve your number 1 goal

Tony Robbins Motivation—How to Visualize to Get What You Want

The 15 Commitments of Conscious Leadership: A New Paradigm for Sustainable Success

Join the Overnight Success Team

Legends X STR Accelerator

Jasper on Instagram

Eric on Instagram

Get Paid for Your Pad Email List

Subscribe to GPFYP on Apple Podcasts 

FREE Airbnb Starter Guide

STR Profit Academy

Overnight Success

Email [email protected]

Hosted on Acast. See acast.com/privacy for more information.