Are your goals in the property game to manage your own property and earn passive income, or are you wanting to scale with a property management company (with hospitality as a core value)? I’m Mark McDaniel, and this is The Good Endeavor short-term Rental Show.

In today's first episode, I'm asking you to weigh up the merits of self-management versus hiring in the right property management company if you are in fact looking to scale. If managing properties fills you up, you’ll learn how to build a management business. If it doesn’t, you’ll learn how to hire the right property manager.

I’ve tried both options, and each comes with its own set of pros and cons, some of which I will share with you in this episode. 

If you are looking to make passive income in the short-term rental game, you will still need to watch out for those Karens who are just waiting to leave a bad review – and be prepared to deal with guest queries at inconvenient hours! 

Let's have some fun weighing up the choice between self-management versus getting in the right guys. Please join me.

In This Episode:

- Is self-management really that easy – or is self-management really that hard?

- Do you just post some good pics of your property, and away you go?

- Why hiring a property manager who has scale and experience is sometimes the best idea

- How a good property manager will manage your algorithms wisely

- The benefits of getting a VA as a property manager

- Hiring the right cleaning team

- Buyer beware! Watch out for the Karens!

- How are you marketing to avoid falling back in the listings?

And more!

Connect with Mark McDaniel:

Website - https://staysimpli.com/

Instagram - https://www.instagram.com/staysimpli/

Facebook - https://www.facebook.com/people/Staysimpli/100088214988017/

Twitter - ​​https://twitter.com/staysimpli

TikTok - https://www.tiktok.com/@staysimpli

Get passive income through short-term rentals, and decide if you’re cut out for managing it yourself. If managing properties fills you up, you’ll learn how to build a management business. If it doesn’t, you’ll learn how to hire the right one.

Airbnb, VRBO, STR, whatever name you know it by, you can make property management a good endeavor and be fulfilled while keeping the booking calendar filled as well. I’m Mark McDaniel. I’m not a real estate agent. I knew nothing about property management when my partners and I sold an IT company in 2015. 

I bought a 4 bedroom vacation rental in Tennessee’s Great Smoky Mountains – with an indoor pool and what feels like a hundred mile view. But I quickly learned the way my first property manager worked, didn’t work for me. The second, third, and fourth were significantly…no better.

With the idea of being a passive real estate investor now out the window - that 100 mile window - I applied my key principles and unlocked the secret to maximizing the value of rental properties, keeping the calendar full, and being satisfied and fulfilled by my work. 

The techniques you’ll hear on The Good Endeavor Short Term Rental Show can be applied to any business, but they sure do make short-term rentals more enjoyable for the host, more enjoyable for the guests, and more profitable for the owner.