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

Only 4% of people who buy an online course actually implement the information and get results. But in our STR Legends X Accelerator, we have a 100% success rate.

What sets Legends X apart from other online courses? And how can you be part of the unique program?

On this episode of Get Paid for Your Pad, Eric and I walk you through the Legends X application process and explain who is a good fit for our short-term rental business accelerator.

We describe the benefit of having access to our Legends X Playbook and discuss what aspects of Airbnb hosting are covered in it. 

Listen in for insight on how Legends X builds community among students and learn how the program is structured to support you in achieving massive results!

The Legends X application process

• Fill out form at https://www.strlegends.com/x 
• Schedule discovery call with team member 

Who is a good fit for Legends X

• Passionate about Airbnb and want to grow
• Can’t take on more units without systems

How the Legends X program is structured

• Accountability pods of 8 to 10 students
• High-level coach assigned to each pod
• Drip content vs. provided all at once

How Legends X builds community among students

• Weekly call with pod and coach
• Daily engagement on Slack

The benefit of the Legends X Playbook

• Helps with onboarding and training team
• Allows owner to sell company in future

What we cover in the Legends X Playbook

1. Guest communication
2. Property onboarding
3. Cleaning management
4. Hiring systems

Apply for the Legends X Short-Term Rental Accelerator

Boardroom Mastermind

Overnight Success

Julie George

Email [email protected] 

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In the Legends X program, we help students transition from hectic Airbnb host to millionaire short-term rental manager. And in the process, we coaches learn just as much from our students as they do from us.

So, what were our top takeaways from leading the first session of our STR accelerator?

Legends X Head Coach Julie George started with one Airbnb property in 2016, and in just two and a half years, she built and scaled a property management business of 130 listings and generated $8M in income.

On this episode of Get Paid for Your Pad, Julie joins me to share the lessons she learned from working with the 52 hosts in our first round of Legends X, describing the benefits of using dynamic pricing tools and focusing on a specific guest avatar.

We explore how Julie avoided becoming a hectic host herself and explain how Legends X helps hosts create the systems they need to take themselves out of the day-to-day as soon as possible.

Listen in for Julie’s insight on the results of Legends X she is most proud of and find out how you can get involved in our upcoming free training around the three secrets to scaling a profitable hospitality brand!

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How Julie avoided becoming a hectic host

• Take self out of day-to-day ASAP
• KISS (keep it simple, stupid)

Julie’s take on the benefit of the Legends X pods

• Hold students accountable to do work
• Provides community of support

What Julie learned from coaching Legends X

• Sensors to monitor noise (e.g.: Minut)
• Benefit of pricing optimization tools

Jasper’s top takeaway from coaching Legends X

• Power of focus on specific guest avatar
• Optimize Airbnb listing for that person

The results of Legends X Julie is most proud of

• Hosts get life back, take time off
• Spend uninterrupted time with family

Million Dollar Host

Free Training: From Hectic Host to Millionaire Manager

Legends X 90-Day STR Accelerator

Million Dollar Host: Julie’s Airbnb Portfolio Earned Over a Million Dollars in Her First Year … Yours Can Too! by Julie George

From Hectic Host to STR Legend on GPFYP EP394

Sean McGregor on GPFYP EP390

NoiseAware

Minut

STR Legends

Get Paid for Your Pad on YouTube

Email [email protected] 

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Are you cleaning your own short-term rental units? Responding to guest messages at all hours? Do you have to say no to opportunities to add units because you’re maxed out and just can’t take on any more work? 

Then you need our free training, From Hectic Host to Millionaire Manager, an interactive event designed to help hosts like you get out of the weeds and build a STR business that scales.

On this episode of Get Paid for Your Pad, Eric and I share who will benefit most from our training and describe the advantage of participating in an immersive event like this over a podcast or webinar.

We explain what it means to be a hectic host and discuss how the training will help you implement the systems you need to scale your STR business.

Listen in to understand the VOS system for becoming a millionaire manager and find out how our event can help you get out of the hectic host position and grow a seven-figure Airbnb business!

What it looks like to be a hectic host

• Experience running Airbnbs, love STR industry 
• Want to add more units but burned out

The goal of our upcoming free training

• Get out of weeds, work ON vs. IN business
• Implement systems and team to scale

Why we’re doing an interactive event

• Understand info AND have confidence to act
• Stay fully engaged, focus only on training

The 5 stages of Airbnb hosting

1. Traditional host
2. Side hustle host
3. Hectic host
4. Rising star
5. STR legend

The 3 pillars to becoming a millionaire manager

• Vision 
• Operations 
• Scale

From Hectic Host to Millionaire Manager Training

Tony Robbins

Legends X Short-Term Rental Accelerator

Email [email protected] 

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The future of travel is in unique experiences. And the more Instagrammable your short-term rental listing, the more likely you are to succeed in the long term. 

So, what if you could design your space from the ground up, building your own A-frame, log cabin or tree house to rent out on Airbnb?

Alex Jarbo is an Airbnb Superhost out of Asheville, North Carolina, who builds his own unique vacation rental properties. He is also the host of Alex Builds, a YouTube channel dedicated to documenting his journey as a vacation rental developer and manager.

On this episode of Get Paid for Your Pad, Alex joins me to explain what inspired him to build his own vacation rentals, walking us through the process of buying land and sharing his checklist of things to consider before you build. 

He offers advice on finding the right architect and contractor for your job and working with lenders to finance a STR build.

Listen in for insight on navigating county zoning laws to secure the proper permitting for your Airbnb and get his advice for hosts looking to build their own unique short-term rental properties!

What inspired Alex to build his own STR properties

• Got into bidding wars for homes on market
• Realized could design to be vacation rental

The process of buying land to build STR properties

• Find real estate agent specializing in land
• Secure necessary permitting

Alex’s insight around county zoning laws

• Make sure land zoned for vacation rentals
• County website, talk to local authorities

Things to consider when you buy land for STRs

• Access to state-maintained road
• Access to electricity
• Availability of satellite TV/internet
• Ability to accept septic system
• Depth of water well

Alex’s advice around finding an architect

• Connect through Fiverr
• Purchase pre-made plans

Alex’s tips for working with contractors

• Be sure passionate about unique houses
• Choose one who communicates well
• Set up closing draw or line of credit

Working with lenders to finance an Airbnb build

• Host Financial (uses AirDNA projections)
• Use regular home loan, live there for 6 mos.

Alex’s advice for hosts looking to build STRs

• Research to find perfect land
• Uniqueness of property is key

Alex Builds on YouTube

Alex on Airbnb

Email [email protected] 

Fiverr

Alex’s Video on Finding an Architect for Airbnb Builds

Den Outdoors

Host Financial

AirDNA

Alex’s Video on Financing Your STR with a Regular Home Loan

Host Financial on Get Paid for Your Pad EP315

STR Legends

Get Paid for Your Pad on YouTube

Email [email protected] 

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So, your Airbnb side hustle has turned into a full-time job. 

You’d like to scale the operation and run a true hospitality company, but at the moment, you’re the only one who knows what to do. And you don’t feel comfortable outsourcing any of the work to someone else. 

You’re the epitome of the hectic host, and you’re not sure how to get to the next level.

On this episode of Get Paid for Your Pad, Eric and I sit down to discuss the five stages of STR hosting, describing what it’s like to be a hectic host and why it’s so challenging to scale from that position. 

We explain how to transition from hectic host to rising star, sharing the three things you need to build a true hospitality brand. 

Listen in for insight on creating a vision for your vacation rental company and learn how our STR Business Assessment can help you leave your hectic hosting days behind and take the first steps to becoming a STR Legend!

The 5 stages of short-term rental hosting

1. Traditional host
2. Side hustle host
3. Hectic host
4. Rising star
5. Legend

The characteristics of a hectic host

• Starting to feel pressure of business
• No documentation, can’t outsource
• Want to grow but don’t know how
• Lack of clarity re: vision for brand

How to shift from hectic host to rising star

• Discipline to document processes 
• Team to move vision forward

The 3 things you need to build a STR brand

1. Systems
2. Technology 
3. People

The 3 components of the Legends X framework

1. Vision
2. Operations
3. Scale

How to use our STR Business Assessment

• Take 10-minute quiz to generate score
• Get clarity around what to focus on
• Free trainings tailored to your business

STR Business Assessment 

STR Legends

Overnight Success

Sean McGregor on Get Paid for Your Pad EP390

The Founder

Better Talent

The DISC Assessment

Get Paid for Your Pad on YouTube

Email [email protected] 

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If you have dreams of buying properties to list on Airbnb but you don’t qualify for a traditional mortgage, all is not lost! You can still acquire real estate and build a portfolio of short-term rentals by way of creative financing.

Isaac Moore and Andrew LeBaron are the Cofounders of Buy More Time, a short-term rental property management company out of Arizona. Isaac and Andrew are also experienced real estate investors who specialize in using creative financing techniques to scale a STR portfolio and helping others do the same.

On this episode of Get Paid for Your Pad, Isaac and Andrew join me to share their top creative financing strategies for acquiring Airbnb properties. They explain how to leverage seller financing, hard money or personal lenders to build your short-term rental portfolio and offer advice on using non-qualified mortgage products to purchase properties. Listen in for Isaac and Andrew’s insight on selling a lender on your hosting track record and get their five-step plan for buying your first STR properties with creative financing.

How Isaac & Andrew got into short-term rentals

• Seller financing deal in Mesa, Arizona
• List on Airbnb to earn 3x market rent

Isaac & Andrew’s journey to starting Buy More Time

• Sold lease on first unit for $30K
• Use profits to arbitrage additional listings
• Start property management company

Isaac & Andrew’s first seller financing deal

• Take over mortgage, no money down
• Lease with option to purchase
• Control property without ownership

Why a property owner would do seller financing

• Lessee makes upgrades to property for STR
• Lessee takes over mortgage payments

The note and deed of trust method of seller financing

• Offer small non-refundable down payment
• Pay 1% or 2% interest on balance of home
• Pay mortgage (through 3rd-party company)

How Isaac & Andrew partner with a personal lender 

• Friend in network willing to loan $30K
•  6 arbitrage units up and running in 30 days
• 10% interest-only payments for 12 months 

The benefit of non-qualified mortgage products

• Prove rental income with Airbnb statement
• Put toward purchase of another property

The difference between hard and soft money

• Hard = at least 10% interest, short-term
• Soft = 7% to 9% interest, long-term

What makes hard money a good tool for STR

• Lenders willing to finance based on ARV
• Refinance and use equity to buy more units
• No pre-pay penalties

Isaac & Andrew’s 5-step plan for getting started

1. Find landlord willing to do lease option
2. Furnish, beautify and list on Airbnb
3. Document everything to show income
4. Ask landlord to deed/seller carry property
5. Refinance property with Isaac

Buy More Time

Email [email protected]

Live Let Thrive Podcast

Weststar Mortgage

Get Paid for Your Pad on YouTube

The Obstacle Is the Way: The Timeless Art of Turning Trials into Triumph by Ryan Holiday

Email [email protected] 

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During the pandemic, smart Airbnb hosts focused on making it easy for guests to work from home. But Aaron Hanauer took it a step further and made it easy for his guests to work OUT from home as well!

Aaron is an Airbnb Superhost out of Minneapolis, Minnesota. He got into the STR space in 2017, renting one unit of his 1916 Tudor-style home on the platform and investing the profits to add a garden apartment to his STR portfolio soon thereafter. During COVID, Aaron and his wife Colleen focused on the health and wellness niche, adding Peloton bikes as an amenity in their Airbnb units.

On this episode of Get Paid for Your Pad, Aaron joins me to discuss the benefits of marketing to Peloton users, explaining what’s special about the Peloton experience and how the bikes have led to a 15% revenue increase. He shares the cost of adding a Peloton to your STR units and describes what he is doing to ensure guest safety in his listings. Listen in for Aaron’s insight on making your Airbnb a health and wellness destination and get his advice on adding smart home gym equipment to your STR strategy!

How Aaron got into hosting on Airbnb

• Rent one of three units in historic home
• Invest profits in getting second STR

What Aaron did to navigate COVID

• Improve work-from-home experience
• Add Peloton bikes for guest use

Why guests book units with Pelotons

• Don’t miss workouts while traveling
• Do rides with friends and family

The benefits of marketing to Peloton users

• Loyal following of 5.4M members
• Free advertising on sites like Pelo Buddy

What’s special about the Peloton experience

• Engaging instructors, library of classes
• Workout at home at any time

How much it costs to add a Peloton to your STR

• $1800 for bike, $39 monthly subscription
• Less than $100/month with financing

Aaron’s stats from May through December 2020

• 85% occupancy, 16-day average stay
• Able to raise prices by 15%

What Aaron is doing to ensure guest safety

• Umbrella insurance policy
• Must be 16 years old to use bike 

How Aaron is creating a wellness destination

• Add strength machine, yoga studio
• Japanese soaking tub and sauna

Aaron’s tips for STR hosts adding a Peloton

• Secure warranty ($200 for three years)
• Provide water bottles, disinfectant

Colleen & Aaron on Airbnb

Email [email protected] 

get_surly on Peloton

Christian Gissing on GPFYP EP301

Peloton

Tonal

MIRROR

Pelo Buddy

Peloton Hotel Finder

Ten Thousand Waves

Wil Slickers on GPFYP EP382

Legends X

Email [email protected] 

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Airbnb was a crazy saturated space pre-COVID and once the whole world shut down, it caused everyone, including people in real estate to have to majorly pivot and pivot quickly. Now, as some city regulations are slowly being lifted, where do you even start with the market with the way it is right now? How do you manage to do Airbnb successfully when the guidelines have become so strict, let alone grow it into a reliable business during this time? How do you eventually get to a place of holding dozens of units at a time?

Michael Kiriazis and Peter Francis, are the founders of Goat Hote, known as the GOAT (“Greatest Of All Time”) of recommendations for food, fun, and experiences in the travel world. Michael and Peter started their management company only three years ago, now with over 60 units across the U.S. In the past 2 years during COVID, they were able to massively pivot from a master leasing model to predominantly a management model. The two have been active members of our Legends X community even before the existence of Goat Hote.

On this episode of Get Paid for Your Pad, Michael and Peter join me to explain how they have managed to become a well known Airbnb management company in only 3 years. They not only take me through the ups and downs of their journey, but they also share pieces of advice along the way on how to successfully do what they do. Listen in for Michael and Peter’s biggest pieces of advice on taking advantage of one of the most exciting times in the Airbnb world.

How Michael and Peter get started and come up with the brand name of Goat Hote

• Started with flipping homes and wanting to make money on them
• Airbnb was very crowded place at the time, so they wanted to stand out and be the GOAT

Where all of the properties are located across the U.S

• Started in Chicago
• Now in over 10 different markets

How Michael and Peter manage the 60+ units

• Find the best of the best management/cleaning teams
• Found that couples and family owned companies do the best work with the units

How Michael and Peter find their management/cleaning teams 

• Reach out mainly through Yelp, Facebook, and turnoverbnb.com
• Usually give each company around 8 units and shoot to have at least this many units per city

Michael and Peter’s experience losing a bunch of money with their master leases, once COVID hit

• Had just signed 2, 4 unit apartment buildings in San Diego in February right before COVID (near 10k a month for each lease and 20k in furniture)
• Lost 90k in about a 24 hour period

What Michael and Peter’s goals are for the company

• To own enough real estate assets to eventually use to retire and have the lifestyle they want
• To grow as much as possible and keep growing to different cities, having the chance to sell in the next 5 years

Michael and Peter’s advice for those who want to grow but are struggling to find new clients 

• Talk to everyone and clients will come
• Start with distressed properties

What has been most beneficial for Michael and Peter in  the Legends X program so far 

• Organization and extensible steps
• Allowed a place for all the systems in place, helping their VA’s and team as a whole

Goathote.com

Goat Stays on Instagram

Email at [email protected]

The 4-Hour Workweek: Escape 9-5, Live Anywhere and Join the New Rich by Timothy Ferriss

‘Alive Time or Dead Time. What Will It Be?’ in the Daily Stoic

Thumbtack

Matterport Virtual 3D Real Estate Tours

Starlink

Julie George on Clubhouse

Legends X

Get Paid for Your Pad on YouTube

Email [email protected] 

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The best business strategy is a satisfied customer. And if you host one or two short-term rental properties, it’s fairly easy to earn five-star reviews on Airbnb. But how do you maintain a high-quality guest experience at scale? How do you rack up 2,000-plus reviews and keep a 4.99 rating?

Sean McGregor is the Founder and CEO of Stay Work and Play Co-Hosting, otherwise known as SWAP Lofts. Sean and his wife Lindsey have been hosting on Airbnb since 2012, garnering 2,212 reviews and a 4.99 rating overall. Sean pivoted to the cohosting model during the pandemic, and so far, he has built a portfolio of 15 listings in five states. He is also an active member of our Legends X community.

On this episode of Get Paid for Your Pad, Sean joins me to explain how he pivoted his STR business during COVID, sharing what he did to connect with property owners and build his management portfolio. He discusses using Thumbtack to find good team members in a new location and walks us through his plans to scale SWAP. Listen in for Sean’s top four strategies for maintaining a five-star guest experience—even as you grow your STR business!

How Sean got his start with short-term rentals

• Helped then-girlfriend Lindsey host on Airbnb
• Managed remotely during family trip to Europe

How Sean pivoted to cohosting during COVID

• Draw on experience managing family property 
• Find property owners in Facebook groups

How Sean uses Thumbtack to find team members

• Hire photographer, cleaners, handyman, etc.
• Narrow down by reviews, they bid on job

Why Sean pays for a photographer to do a 3D tour

• Makes it easier for cleaners to bid on job
• Help guests and team members find things

How Sean maintains a high guest satisfaction score

• Make it as easy as possible to check in
• Personal connection via text throughout stay
• Make it right when things go wrong

Sean’s top strategy for getting a 5-star review

• Write detailed, friendly review for guest
• Text screenshot and they reciprocate

Sean’s plans to scale SWAP Co-Hosting 

• Document processes through Legends X
• Build team so business can run without him

What Sean did before he got into short-term rentals 

• College VIP discount cards for students
• Golf VIP (access to/discounts on courses)

Why Sean recommends the Legends X program

• Accountability pods to stay engaged
• Community going through similar things

Stay Work and Play Co-Hosting

The 4-Hour Workweek: Escape 9-5, Live Anywhere and Join the New Rich by Timothy Ferriss

‘Alive Time or Dead Time. What Will It Be?’ in the Daily Stoic

Thumbtack

Matterport Virtual 3D Real Estate Tours

Starlink

Julie George on Clubhouse

Legends X

Get Paid for Your Pad on YouTube

Email [email protected] 

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So, you don’t quite make enough money to support yourself as a short-term rental host. But you know you need to spend more time on the business if you want to grow. Do you wait and try to save more money? Or do you take a leap of faith, quit your job and go all-in on Airbnb?

Sergio Castaneda is a part of our Legends X community and the founder of Jungle House, a short-term rental company out of Columbus, Ohio. Sergio was running two successful Airbnb units on the side while he worked full-time. But after a particularly stressful week on the job, Sergio quit to run his STR business full time. Today, he supports himself fully with the revenue from four listings and Jungle House was recently named one of the top 18 vacation rentals in Columbus.

On this episode of Get Paid for Your Pad, Sergio joins me to explain why he quit his job to go all-in on Airbnb, describing how it felt to walk away from his 9-to-5 and what the transition to full-time host looks like. He offers advice on how to attract bookings, challenging us to tell a story through photos and build trust with prospective guests in our listing. Listen in for Sergio’s insight on increasing your STR revenue and find out what he has planned for the future of Jungle House!

What inspired Sergio’s interest in Airbnb

• Passion for real estate and hospitality
• Way to give back to travel industry

How Sergio got his start in short-term rentals

• Lease small studio for test run
• Use money to buy first home
• Rent spare bedroom to cover mortgage

How Sergio felt about quitting his job

• Confident (other STR units doing well)
• Didn’t want to look back with regret

Sergio’s advice on how to attract bookings

• Invest in professional photos
• Tell story with pictures
• Brag about listing in description
• Build trust with About Me

What Sergio does to increase his revenue

• Use dynamic pricing tools
• Offer late checkout, early check-in

Sergio’s plans for the future of Jungle House

• Create systems that don’t need me
• Focus on brand and growing company
• Partner with likeminded investors
• Add units (some in other locations)

Jungle House

Email [email protected]

PriceLabs

Wheelhouse

Beyond Pricing

StayFi

Arthur Colker on GPFYP EP386

MailChimp

Legends X

Get Paid for Your Pad on YouTube

Email [email protected] 

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