Investor Cheat Code Podcast with Mike Simmons

How to Build a Wildly Successful Short-Term Rental Company PART TWO


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Today's Guests: James Svetec & Riley Oickle

One of the world's foremost Airbnb experts and the co-author of Airbnb for Dummies, James has helped over 1,000 students all over the globe leverage the power of short-term rentals as a vehicle for cash flow and wealth. James is the industry's go-to expert when it comes to mastering performance and streamlining operations. He consults with more than 600 property management companies around the world.

Riley is a Canadian real estate investor and mentor who specializes in multi-family residential investing through BRRRR and joint venture strategies. Throughout the journey of buying his first income property in the Southwestern Ontario area, he realized that there is a real need in the market to help people go through this process more easily. Today, he owns a real estate portfolio worth over $8 million and has helped new investors buy their first properties without wasting time and money on trial and error.



Highlights From The Show:

This is a continuation of the show we posted a couple of weeks ago, discussing the ins and outs of short-term rental investing. We talk about financing, management, software, the science behind listings, and so much more! Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with James Svetec and Riley Oickle and learn more about how to build a wildly successful short-term rental company!



Notable Quotes:

“Typically, management costs 20% of your revenue.”

  • Riley Oickle
  •  

    “We find that if you have a short-term rental property 1-2 hours outside of a major urban area, it is a great opportunity for people to staycation.”

    • Riley Oickle
    •  

      “I would love to have the company motto: I don’t do anything personally, but my company handles everything in-house.”

      • Mike Simmons
      •  

        “Almost all issues will come from one-night stays.”

        • James Svetec
        •  

          “The check-in process is really important because it is your guest’s first impression of your property, so you want it to be very easy.”

          • James Svetec
          •  

            “I am the baby boomer of the group.”

            • Riley Oickle
            •  

              “We recommend that people price their STRs manually at the beginning.”

              • James Svetec
              •  

                 
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                    Resources and Links From Today's Show:

                    Minut Noise Monitoring

                    NoiseAware

                    Nest

                    August Lock

                    Hostaway

                    Hostfully

                    PriceLabs

                    AirDNA

                    AllTheRooms

                    Mashvisor

                    Motel Makeovers

                    BNB Inner Circle

                    James on Instagram

                    Riley on Instagram

                     

                    More Resources From Mike:
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