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

Have you ever been part of a group of elite business owners connecting, learning, and helping each other solve problems all while having a good time?

Two years ago, just two months before the lockdowns we went all into the business model of creating and hosting our mastermind groups all over the world. And then the lockdowns came, and the world stopped turning. 

Now the world has reopened. We’re back, and so is the STR Legends Mastermind.

We’ve learned a lot through our live events, and virtual masterminds and now we’re taking the STR Legends Mastermind to a whole new level.

Today we want to take the opportunity to give everybody a recap of STR legends and the STR Legends Mastermind and who it is for.

But first, what makes a mastermind group worthwhile and what sets the SRT Legends Mastermind apart?

Listen in to learn about the power of breaking out of your routine to gather with the like-minded and the legends to forge a lasting network. 

On this episode of STR conversations, Eric and I take you deeper into the genius of the mastermind concept. We also touch on the many success stories of business owners from past STR Masterminds, and we will share some of the high points of the virtual mastermind. 

Plus, we’ll touch on the newest trends in the STR industry and why being in the trenches with the people pushing this industry forward is vital.

• The 3 core things we want to achieve with the STR Legends Mastermind
• How being part of the STR Masterminds will rapidly expand your network 
• Why bringing together like-minded individuals helps solve the biggest problems
• How being face to face changes the mastermind experiences and enhances relationships
• The biggest difference between going to a conference and attending a mastermind
• How the STR Legends Mastermind offers cutting edge information on the industry evolution
• The biggest benefit of sitting down with the legends of the STR industry

STR Legends Live Mastermind Retreat in Puerto Rico EP278

STR Legends Mastermind Goes Virtual EP338

Rebecca Slivka on Get Paid for Your Pad EP352

Tim Mortimer on Get Paid for Your Pad EP455

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Legends X Short-Term Rental Accelerator

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Plenty of markets have emerged as large players since the start of the Covid-19 pandemic. With the ability to work remotely, more people are expanding outside of major cities and looking for short-term rentals (STRs) in lower-traffic areas. 

So what are the top locations to invest in for rental property owners?

Tia Castle is a real estate coach, crypto agent, and the Founder of CastleLux Rentals, a boutique vacation rental management company that focuses on family-oriented properties. 

On this episode of Get Paid for Your Pad, Tia returns to the show to join me in discussing the top markets where STR owners can get the best return on investment. 

We share our insights on articles from AirDNA, Realtor.com, Mashvisor, and Lodgify on where listeners should be looking for cash-on-cash returns in 2022. 

Listen in as Tia and I discuss why unique outdoor markets are thriving, how to add value to properties if the location is lacking, and which markets we believe may continue to be on the rise in the coming years. 

Tia’s experience briefly hosting and producing a lifestyle real estate TV show

Tia’s insights on articles from AirDNA, Realtor.com, Mashvisor, and Lodgify on the top places to invest in vacation rentals for cash-on-cash returns

Why unique locations, like Hawaii and Alaska, are in high demand for STRs

Why Joshua Tree has emerged as a top market to invest in throughout recent years 

The importance of having “instagrammable” aspects of your STR locations

The difference between a capitalization rate and a cash-on-cash return

Tips for adding value to the properties that can raise their prices per night

Tia’s Website

Tia on LinkedIn

Tia on Instagram

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Legends X Short-Term Rental Accelerator

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Castle Lux Rentals

Tia Castle on EP442: From Masterleasing to Managing Short-Term Rentals in Sarasota

Mashvisor Article on Best Cash-on-Cash Return by City

Lodgify List on Best Vacation Rental Property Markets in 2022

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On the last episode of STR Conversations, Eric and I spoke about why we gave our team a budget to book a unique stay on Airbnb. Now we’re back to tell you how it went. 

On this edition of STR Conversations, Eric and I recap our unique stays at Airbnbs over the weekend and discuss some of the biggest shifts in the STR (short-term rental) industry, especially in the Covid pandemic era. 

We cover current events in the industry, including OTA Insight’s acquisition of Transparent, Alpine Investors' acquisition of AirDNA, and WhyHotel’s recent venture capital raise and rebrand to Placemakr.

We share our thoughts on WhyHotel’s unique business model and why AirDNA is the go-to data company in the STR space.

Listen in to learn more about how the STR industry is growing and why it’s the best place to be.

Eric’s experience staying at a boat Airbnb in San Diego

My time staying at an Airbnb in the mountains in Panama

How the offerings at an Airbnb, like amenities and a good view, can drastically change the price per night

OTA Insight’s acquisition of STR data company, Transparent

Private equity firm Alpine Investors’ acquisition of AirDNA

WhyHotel rebrands as Placemakr and raises $90 million in venture capital funding

How Placemakr uses their business model to control the challenges with having long-term residents and short-term rentals in the same urban buildings

The emergence of short-term and medium-term rentals creating space for hybrid business models within rental management companies

Why the “trend is your friend” and STR markets will continue to trend up in the coming years

The lifting of many Covid-19 restrictions and what that could mean for the STR industry

Get Paid for Your Pad Email List

Legends X Short-Term Rental Accelerator

STR Legends Mastermind

Subscribe to GPFYP on Apple Podcasts

Email [email protected]

Alpine Investors acquires AirDNA to enhance data solutions

OTA Insights Announces Acquisition of Transparent

WhyHotel Rebrands as Placemakr, Announces over $90M in Equity Investment

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The short-term rental (STR) industry is incredibly dynamic and always changing. If you are not constantly adapting as a business owner, you’ll get left behind. 

So how can you stay ahead of the game?

Tim Mortimer is the Founder of the Australian-based STR company BNB Made Easy and the booking platform Book Orange. He has experience in the Legends X program and has doubled his number of properties since the beginning of the Covid-19 pandemic.

On this episode of Get Paid for Your Pad, Tim joins me to discuss how he has managed to develop two strong businesses in the STR industry and why he prioritizes enhancing the guest experience outside the walls of each property. 

Listen in as Tim shares the importance of working with business coaches, implementing systems to maximize efficiency, and creating a strong company culture. 

Tim’s journey going from being a school teacher to owning his own business

How to enhance the guest’s experience outside of the short-term rental property

How Tim was able to double his amount of units during the Covid-19 pandemic

Tim’s advice to STR owners looking to quickly grow their businesses

The importance of a creating and maintaining a strong company culture with core values

The benefits of working with a business coach

Implementing systems into your business to maximize efficiency

The importance of good communication with your guests, staff, and business partners

Tim’s experience in the LegendsX program

The variety of business models in the STR industry and why there is no “best” way to run your business 

Tim on LinkedIn

Book Orange on Facebook

Book Orange on Instagram

BNB Made Easy on Facebook

BNB Made Easy on Instagram

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Legends X Short-Term Rental Accelerator

STR Legends Mastermind

Subscribe to GPFYP on Apple Podcasts

Email [email protected]

BNB Made Easy

Book Orange

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Last September, Eric and I started building Freewyld, our new short-term rental brand. And to start, we took over an existing Airbnb business—four cabins on three acres in Idyllwild, California.

What’s happened in the six months since then? What parts of our business plan have we executed? What unexpected challenges do we face? And what lessons have we learned along the way?

On this edition of STR Conversations, Eric and I reveal what’s going well in our new venture and where we’re struggling, explaining why we’re focused on getting systems in place and building out the team.

I describe what tools I’m using to manage the cabins remotely, and Eric shares the unforeseen challenges he’s facing on the development side of building Freewyld.

Listen in for insight on marketing to prevent cancellations and learn our methodical approach to hiring new Freewyld team members to fill our greatest needs.

• Why we’re giving our team the budget to book a unique stay on Airbnb 
• The existing STR business in Idyllwild we took over last September
• How managing cabins remotely pushes me to be creative with guest communication
• What challenges we’re facing on the development side of building Freewyld 
• Why we're focused on getting our systems in place and building out the team
• The additional challenges of having 4 units on the same property
• How we’re using marketing to prevent cancellations at Freewyld
• The 2 ways to build an Airbnb business and why we’re taking the patient approach
• Eric's methodical approach to hiring new team members for Freewyld 

Mammoth Lakes 

The Entrepreneur House

Jasper on Instagram

Eric on Instagram

Loom

Retrograde Retreat

Stay Awhile Cabins on Instagram

FREE Airbnb Starter Guide

Get Paid for Your Pad Email List

STR Legends Mastermind

STR Profit Academy 

Overnight Success

Subscribe to GPFYP on Apple Podcasts  

Email [email protected] 

Legends X Short-Term Rental Accelerator

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Do you ever wonder what is the most efficient way to market to your guests? We’ll give you the answer: it’s email. 

Email marketing can seem daunting, but it’s actually a lot easier than you might think. 

Ryan Austin is the Co-Owner of Switchback Email, a company that provides professional email marketing consulting, services, and software. Arthur Colker is the CEO and Founder of StayFi, a platform that provides vacation rental WiFi and collects valuable guest data so STR hosts can drive repeat bookings.  

Ryan and Austin work together between Switchback Email and StayFi and join me on this episode of Get Paid for Your Pad to discuss the ins and outs of effective email marketing. 

They discuss everything from recommended communication cadences and automation tools, to brand storytelling and ROI (return on investment). 

Listen in to learn more about why capturing guest emails and using them strategically leads to a much higher chance of them returning to your property in the future. 

Why capturing guest emails is crucial to ensure they stay at your property again

How Arthur created an easier way to capture guest data and drive repeat bookings

How Ryan uses drip campaigns and location-based emails to offer a better experience and connection opportunity for guests

Why email is the most efficient way to market to people

The importance of following permission and consent laws when creating email lists and campaigns

How to start with automation tools to gather advanced guest data

Recommended cadence for emails and touchpoints to guests

How brand storytelling and location education can lead to higher click through rates

The relationship between ROI and brand recognition

Automated emails vs general marketing emails

Arthur and Ryan’s tips for getting into email marketing

Arthur on LinkedIn

StayFi on LinkedIn

Ryan on LinkedIn

Switchback Email on LinkedIn

Get Paid for Your Pad Email List

Legends X Short-Term Rental Accelerator

STR Legends Mastermind

Subscribe to GPFYP on Apple Podcasts

Email [email protected]

StayFi – Use code PAD for 50% off

Switchback Email

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How do you scale a short-term rental business? The answer seems obvious, right? You simply take on more and more listings.

But adding listings willy-nilly is not sustainable. It turns you into a Hectic Host, and before long, you can't keep up with the demands of running a vacation rental business.

So, what makes a hospitality brand both sustainable and scalable? What do successful STR operators do to grow their businesses the right way?

On this edition of STR Conversations, Eric and I sit down to discuss the VOS system we teach in the Legends X program, describing where the framework came from and who it’s designed to serve.

We walk you through the three pillars of VOS (vision, operations and scale) and explain why developing a brand identity and guest avatar serves as the foundation of the system.

Listen in for insight on leveraging hands-on management to create extraordinary guest experiences and learn how the VOS system can help YOU scale a sustainable STR hosting business.

• How the pandemic inspired the development of the VOS system 
• The 3 pillars of the VOS system—vision, operations and scale
• What type of host the VOS system is designed to support
• How implementing VOS helped Tim Mortimer grow from 40 to 100 listings
• Why it’s not a good idea to scale a STR business without a clear vision
• How having a vision for your STR business simplifies decision-making
• The elements of VOS Eric noticed at Retrograde Retreat
• The benefit of marketing your brand to a specific guest avatar
• How to leverage hands-on management in your Airbnb business

Tim Mortimer 

The Spirit to Serve: Marriott’s Way by JW Marriott and Kathy Ann Brown

Retrograde Retreat

Stay Awhile Cabins on Instagram

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

FREE Airbnb Starter Guide

Get Paid for Your Pad Email List

STR Legends Mastermind

STR Profit Academy 

Overnight Success

Subscribe to GPFYP on Apple Podcasts 

Email [email protected] 

Legends X Short-Term Rental Accelerator

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Trying to grow a short-term rental (STR) company in a pandemic might not seem ideal, but the truth is that the industry is blossoming. 

Believe it or not, there are some tips and tricks that can help grow your business faster than you think. In the case of this episode’s guests, the number of properties increased by 300 percent just last year. 

Steven Suárez is the CEO of Argest Rentals, a full-service short-term rental management company. He is also the Co-host of Live Let Thrive, a podcast about Airbnb and the sharing economy. His business partner Federico Zimerman is the COO of Argest Rentals and extremely well-versed in the hospitality game, having flown over one million miles, to over 60 countries. 

Steven and Federico join me for the second time on Get Paid for Your Pad to discuss how they grew Argest Rentals from 15 properties to nearly 50 in 2021 alone. 

We chat about everything from finding new properties to the benefits and challenges of working virtually with teams of people across the world. 

Listen in to learn more about how Steven and Federico have structured their business during a large growth period, tips for hiring new people, and establishing trust with new clients that are fresh in the SRT industry.

Background on Argest Rentals and how they grew their Airbnb’s from 15 to nearly 50 in one year

Using Upwork to find quality employees for STR businesses

Using WhatsApp to communicate with business partners and teams across the world

The biggest challenges Steven and Frederico faced as their company started growing rapidly

The hardships and payoff of building a Virtual Assistant team to cover 24/hour business customer service 

The power of word of mouth and how Steven and Frederico used that to grow their business in 2021

How to work with clients that are new to the industry and establishing trust with them

Balancing running an STR business with having a full-time job and when it might be time to quit your full-time job

Argest Rentals

Argest Rentals on Instagram

Argest Rentals on Facebook

Email [email protected]

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Subscribe to GPFYP on Apple Podcasts

Email [email protected]

Learning Lessons from 2020 for Short-Term Rental Hosts

Live Let Thrive Podcast

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Starting your own short-term rental business is probably not going to be an overnight success. So how can you stay motivated to put time into relationship building when you want to grow your business faster?

For Jim Odom, it was an overnight success… after a grueling five-year start up period. Jim is the co-Founder of Unveiled Vacation Rentals and runs a property management company, Unveiled Short-Term Rental Management. He doubled the size of his business in January 2022, going from three properties to six, and recently hosted a workshop for over 350 realtors in his market.

On this episode of Get Paid for Your Pad, Jim joins me to discuss the importance of bringing value to realtors and property owners in your market.

He shares his unique approach to facilitating connections across multiple networks and how Facebook Groups can be an easy tool to do so.

Listen in for Jim’s insight on how to quickly grow your network and transition those connections into valuable relationships for your short-term rental properties. Your business’s big break might be just around the corner.

• Jim Odom’s experience in the Legends X STR Accelerator program
• The mutually beneficial relationship between realtors and STR owners
• Important first steps to consider when starting your own vacation rental business
• Facilitating connection and bringing great value to those in your market’s network
• Using Facebook Groups to create an online connection network with stakeholders in your market
• The importance of showcasing your voice and authority in your market

Unveiled Vacation Rentals

Unveiled STR Management

Jim on LinkedIn

Get Paid for Your Pad Email List

Legends X Short-Term Rental Accelerator

STR Legends Mastermind

Subscribe to GPFYP on Apple Podcasts

Email [email protected]

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