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

    Get Paid For Your Pad is the go-to podcast for Airbnb hosts, short-term rental operators, and vacation rental entrepreneurs who want to scale smarter, earn more, and stay ahead of industry shifts.

    Hosted by Jasper Ribbers, Eric Moeller, and Kaye Putnam from Freewyld Foundry, this podcast delivers actionable tips on Airbnb pricing strategies, revenue management, direct bookings, listing optimization, and guest experience. You’ll hear from real hosts, property managers, and industry pros who share behind-the-scenes insights, lessons learned, and the systems they use to grow profitable STR businesses.

    Whether you’re managing one property or one hundred, you’ll walk away with practical strategies to increase occupancy, boost profits, and build a sustainable short-term rental brand.

    Tune in weekly to learn how to thrive in today’s competitive Airbnb market, and get paid what you’re worth.

    Freewyld Foundry offers revenue and pricing management (RPM) services to the top 1% of STR hosts. Learn more and request a free Revenue Report: https://www.freewyldfoundry.com


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

    Advertise

    Copyright: © Jasper Ribbers

    • Apple Podcasts
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    • Spotify

    Latest Episodes:
    The Short-Term Rental Ecosystem Sep 19, 2019
    Show notes

    Vacation rentals have been around for a long time. But the advent of Airbnb put the industry on our radar in a new way, inspiring significant growth and change. And today, there’s an entire ecosystem of bespoke products and services that cater to the multibillion-dollar short-term rental (STR) industry.


    Evian Gutman is the Founder and CEO of Padlifter, the world’s largest marketplace of STR service providers. Evian created the platform to connect businesses in the Airbnb ecosystem with their target customers. Padlifter provides the most comprehensive directory of short-term and vacation rental service providers globally, enabling hosts to find the right services in the right place at the right time.


    On this episode of Get Paid for Your Pad, Evian joins us to discuss the development of the Airbnb ecosystem, explaining how the products and services have evolved with the expansion of the STR space. He describes several traditional industries that have adapted their offerings to serve the vacation rental industry and offers insight around the most innovative collaborations in the network. Listen in for insight around the potential for Airbnb to allow listing videos and learn how Padlifter connects stakeholders in the STR industry!


    Topics Covered


    How the Airbnb ecosystem developed

    • Vacation rentals on people’s radar with Airbnb
    • Expansion to multiple booking platforms
    • Increasing number of services to meet demand
    • 115K vacation rental companies worldwide


    The evolution of the STR industry

    • Decrease in average length of stay (4 nights)
    • Destination vs. urban travel to replace hotel


    Why hosts list on multiple channels

    • Additional exposure, marketing opportunity
    • Availability of channel management software


    Traditional services that evolved to specialize in STR

    • Copywriting, listing optimization
    • Data and investment support
    • Luggage and parcel services


    Evian’s insight around the most innovative companies

    • Right product for right person in right place
    • Collaborations, all-inclusive services (i.e.: property manager with in-house turnover)


    The potential for Airbnb to allow video

    • Higher expectations around Airbnb Luxe
    • Integration of video likely to trickle down


    How Padlifter serves the STR industry

    • World’s largest marketplace of service providers
    • Connect businesses with target audience
    • Simplify lives of hosts, make more money
    • Connect stakeholders (verification, reliability)


    Connect with Evian


    Padlifter

    Evian on LinkedIn


    Resources


    Beyond Pricing

    Transparent Data

    Inkifi Global Airbnb Capitals

    AirDNA

    Archibnb

    Airbnb Plus

    Airbnb Luxe

    VRMA Conference

    STR Legends

    HOST 2019

    Eric Moeller


    To subscribe to the podcast, please use the links below


    Click Here to Subscribe via iTunes


    Click here to Subscribe via Stitcher (Android users)


    If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks!

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


    How to Streamline Your Airbnb Guest Communications Sep 13, 2019
    Show notes

    A lot of short-term rental hosts underestimate the power of effective guest communication. How well you convey the information your guests need has a big influence on their experience. And that, in turn, impacts the reviews they leave you on Airbnb. So, what does good guest communication look like? How often should you message your guests? And WHEN is the best time to send WHAT information?


    Today, I’m sharing an edited version of my Smartbnb Webinar on how to streamline your Airbnb guest communication. I explain why it’s crucial to communicate clearly with STR guests and offer advice on building relationships with voice notes and video.


    I walk you through the five aspects of successful Airbnb guest communication, discussing how to provide objective information that’s easy to understand—when the guest actually needs it. Listen in for an outline of my guest communication flow and learn how often to communicate with guests before, during and after their stay!


    Topics Covered


    Why guest communication is crucial on Airbnb

    • Influences guest experience
    • No industry standards like hotel


    The reasons for communicating with Airbnb guests

    • Provide information, facilitate optimal stay
    • Build relationship (more forgiving review)


    How we communicate as human beings

    • Words only small part of message
    • Tone, body language more important


    Tips for building relationships with guests remotely

    • Phone call and/or send voice notes
    • Send short video if can’t meet in person


    The 5 aspects of successful Airbnb guest communication

    1. Accuracy—objective information (e.g.: WiFi speed test)
    2. Timeliness—respond quickly + send info when need it
    3. Digestibility—present info in concise, appealing way
    4. Frequency—send most important info multiple times
    5. Comprehensiveness—provide ALL info guest needs


    My Airbnb guest communication flow

    • Send welcome message immediately after booking
    • Deliver check-in instructions few days before stay
    • Resend address, check-in instructions as flight lands
    • Welcome + resend WiFi password just after check-in


    How often to communicate with guests during their stay

    • Reach out few hours after arrival for feedback
    • Message guest morning after first night
    • Check in every 3 or 4 days after that


    Communicating with Airbnb guests after their stay

    • Send thank you immediately after check-out
    • Review guest right away, ask to reciprocate
    • Remind guest to submit review after week
    • Final reminder day before window closes


    Resources


    Speedtest

    Hemingway Editor

    Grammarly

    Smartbnb

    Hostfully

    WhatsApp


    To subscribe to the podcast, please use the links below


    Click Here to Subscribe via iTunes


    Click here to Subscribe via Stitcher (Android users)


    If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks!

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


    Airbnb Hosting Fatigue Prevention & Remedies Sep 06, 2019
    Show notes

    Are you annoyed with your Airbnb guests or overwhelmed with the responsibility of managing your listing? If you’ve been a short-term rental host for a while now, you may be tired of answering the same questions and frustrated with guests who complain about things you can’t control. This condition is known as Airbnb hosting fatigue. So, what can you do about it? Can you prevent hosting fatigue from happening to you?


    Today, I’m doing a solo episode to discuss the issue of Airbnb hosting fatigue. I share my own experience with the phenomenon, explaining how I reignited my passion for hosting. I also offer insight around how outsourcing some activities and automating things like messaging, pricing, and task management can prevent STR hosting fatigue. Listen in to understand the problem with the Airbnb review system and get my top tips for finding the inspiration to stay engaged and continuing to improve your listing!


    Topics Covered


    My experience with STR hosting fatigue

    • Super-excited to host for first couple months
    • Complaints, repeat questions got annoying
    • Started to not care as much, ratings suffered


    How I reignited my passion for hosting

    • Look for ways to change, improve (e.g.: Hostfully guidebook)
    • Engage with guests through WhatsApp


    How to prevent Airbnb hosting fatigue

    • Automate or outsource some activities
    • Hire employee to clean, check-in guests


    The problem with the Airbnb review system

    • 4-star hotel review = luxury, certain amenities
    • Airbnb expects consistent 5-star reviews


    How I think about the Airbnb review system

    • One bad review won’t kill STR business
    • Take feedback seriously, be professional


    My top tips for preventing STR hosting fatigue

    1. Focus on finding inspiration to improve
    2. Communicate with other hosts (i.e.: Meetups, online groups)
    3. Shift focus by asking right questions
    4. Take break from hosting if necessary


    Resources


    Smartbnb

    Smartbnb Blog

    Jasper’s Communication Post on Smartbnb

    Hostfully

    WhatsApp

    Seth Porges on GPFYP068

    Seth Porges’ Article on Reviews

    Meetup

    Tony Robbins

    Jasper’s Smartbnb Webinar Registration

    Host 2019

    Get Paid for Your Pad Blog


    To subscribe to the podcast, please use the links below


    Click Here to Subscribe via iTunes


    Click here to Subscribe via Stitcher (Android users)


    If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks!

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


    How to Maintain Outstanding Hospitality While Scaling to 80+ Units Aug 22, 2019
    Show notes

    “I vowed to change the company’s vision … from putting roofs over people’s heads to creating memories and stirring emotions.”

    It is easy to build relationships with guests when you have a small number of listings, and you can be there in person to check them in. But how do you keep that connection as you scale up to 50 units or more? What can you do to show people you care and maintain superior hospitality as your business grows?


    Steve Patterson is the President of UrHomeInPhilly, a short-term rental property management company based in Philadelphia, PA. UrHip is ranked #1 in customer experience on Google and was voted best place to stay in Philadelphia by Sweet Retreats. Steve is passionate about helping his guests create memories, and he has maintained Superhost status—even as his business has grown to 80-plus units.


    Today, Steve joins us to explain how he differentiates his STR business with outstanding service. He shares his struggle to achieve Superhost status, discussing what he learned at the Airbnb conference that improved his reviews. Listen in for Steve’s tips on building relationships with guests, even when you can’t be there to meet them in person, and learn what tech tools he uses to maintain exceptional hospitality while his business continues to grow!


    Topics Covered


    How Steve got into Airbnb

    • Wanted to move to suburbs but locked into lease
    • Use STR as strategy to not lose money


    Steve’s experience at the Airbnb conference

    • Wanted to learn to be Superhost
    • Speakers inspired to use CARE as catalyst


    How Steve differentiates himself with service

    • Creating memories + stirring emotions
    • Personalize stays around reason for travel


    How to build relationships when you can’t meet guests

    • Demonstrate care (e.g.: balloon for birthday)
    • Online tools to communicate through video


    Steve’s insight around creating a high-level of service

    • Only as good as team on ground
    • Learn about guest, find things in common


    How Steve scaled his STR business to 80+ units

    • Standardize as much as possible (e.g.: flatware)
    • Find reliable technology partners
    • Hire virtual team to help


    Steve’s top takeaways from STR Legends Live

    • Leverage processes to work fewer hours/week
    • Don’t be in rush to buy property (winter coming)


    Connect with Steve


    UrHomeInPhilly

    Steven on LinkedIn

    UrHip on Facebook


    Resources


    Eat, Pray, Love Author Elizabeth Gilbert

    Loom

    BombBomb

    WhatsApp

    STR Legends


    To subscribe to the podcast, please use the links below


    Click Here to Subscribe via iTunes


    Click here to Subscribe via Stitcher (Android users)


    If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks!

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


    Guest Screening for Growing STR Managers Aug 15, 2019
    Show notes

    If you have a small number of Airbnb listings, screening guests (and rejecting the bad ones) is not a problem once you know what to look for. But what if you want to grow your short-term rental business to 20, 50, or even 100 properties? What tools are available to STR rental managers to vet and monitor guests? How can you leverage effective screening to make more money AND acquire new listings?


    Anton Zilberberg is an STR Legend and property manager out of Toronto. He operates a portfolio of 100-plus properties through his luxury STR company, QuickStay, and serves as the Founder and CEO of Autohost, an AI screening tool for Airbnb guests. Today, Anton is back on the podcast to offer his advice on guest screening to STR managers who are looking to scale.


    Anton covers the risks property managers face, describing the scope of the fraud problem in the STR industry. He also weighs in on how effective screening increases STR revenue and gives property managers a competitive advantage. Listen in to understand Autohost’s multilayer verification process and learn how effective screening protects you, your business—and your neighbors!


    Topics Covered


    The fraud risks that property managers face

    • Credit card schemes + identity theft cases
    • Gun violence, escort services and drugs
    • Resell STR on dark web


    The scope of the fraud problem in the hospitality industry

    • Accounts for $150B annually
    • 1 in 20 bookings potentially fraudulent


    Autohost’s multilayer verification system for screening guests

    • Digital fingerprint determines geolocation
    • Checks on ID, credit card and social channels


    Anton’s insight on security solutions for STR managers

    • Install NoiseAware, security cameras, etc.
    • Process in place for removing guests
    • Educate team on security and safety


    How to identify and deal with fake IDs

    • Use ID verification system
    • Collect additional information (e.g.: social accounts, business email)


    Anton’s insight around complying with privacy laws

    • Do not store or share personal information
    • Verify accuracy, then dispose of info


    How effective screening increases STR revenue

    • Remove booking restrictions, allow Instant Book
    • Rewarded with higher position in search results
    • Fewer gaps in calendar = less unsold inventory
    • Allows to accept locals (especially in off-season)


    How effective screening gives property managers a competitive advantage

    • Demonstrate higher returns for owners
    • Use as selling tool to grow business


    How Airbnb screening compares to Autohost

    • Airbnb verification at booking only
    • 9 vs. 2,000 verifications + tests


    Aton’s advice for growing STR managers

    • Create systems to set expectations, monitor high-risk guests
    • Verify ID and phone number, charge security deposit


    How much it costs to use Autohost

    • $1 to $10/screening based on services
    • $5/screening for first 200 GPFYP listeners


    How screening prevents problems for STR hosts

    • Hold people accountable (sue in court if necessary)
    • Charge unverified guests with trespassing


    Connect with Anton

    Autohost

    Quickstay

    Anton on LinkedIn


    Resources

    Anton on GPFYP EP290

    Ernst & Young 2018 Global Fraud Survey

    NoiseAware

    STR Legends

    Get Paid for Your Pad on Facebook


    To subscribe to the podcast, please use the links below


    Click Here to Subscribe via iTunes


    Click here to Subscribe via Stitcher (Android users)


    If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks!

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


    How to Keep the Bad Airbnb Guests Out by Screening Effectively Aug 08, 2019
    Show notes

    If you’ve had a bad experience with a guest on Airbnb, chances are you did not screen that guest effectively. But if you know what to look out for and what questions to ask, it is fairly easy to determine which guests are likely to break your house rules—and which ones might be engaged in criminal activity like fraud or identity theft.


    Anton Zilberberg is the Founder and CEO of Autohost, a new AI tool for screening Airbnb guests, and QuickStay, a luxury short-term rental (STR) management company out of Toronto with a portfolio of 100-plus properties. Today, he joins me to explain why it’s crucial to screen would-be guests and walk us through the questions he asks to determine intent.


    Anton offers insight on the two types of risk, general and criminal, sharing the red flags to look out for and additional measures to take in minimizing your risk portfolio. He also weighs in on the pros and cons of different booking channels and discusses the risks associated with guests coming from Airbnb, Booking.com and VRBO. Listen in for the parameters Anton uses to establish a risk score for potential STR guests and learn how to handle cancellations for both instant bookings and booking requests on Airbnb.


    Topics Covered


    Why it’s crucial to screen your STR guests

    • Allows for sustainable business
    • Residential area not like hotel (e.g.: noise concerns)


    Anton’s screening questions for Airbnb guests

    1. What is the purpose of your stay?
    2. Why are you interested in this property?
    3. Where are you traveling from?
    4. What is your experience with STR?


    Anton’s tips for screening potential STR guests

    • Set expectations at booking stage
    • Make sure guest story makes sense
    • Get indication of intent (i.e.: birthday party)


    Anton’s insight on the two types of risk

    1. General risk (e.g.: rule violations, additional guests)
    2. Criminal activity such as fraud, identity theft


    Potential red flags for criminal activity

    • Out-of-province phone #, long stay + high ADR
    • Never answer phone but reply with SMS


    The pros and cons of different booking channels

    • Airbnb good fraud detection, higher general risk
    • com high risk for fraud (establish processes)
    • VRBO high general risk, less payment risk


    Factors to consider in determining general risk

    • Length of stay
    • Booking channel
    • Type of property
    • Number of guests
    • Average daily rate
    • Day of week


    The benefit of using Airbnb Instant Book

    • No penalty for cancellation with valid concern
    • More information to run guest risk score


    How Anton handles Airbnb booking requests

    • Run risk score with information available
    • Run again once booking confirmed
    • Establish strict rules if score changes
    • Invite guest to cancel for full refund


    Connect with Anton

    Autohost

    Quickstay

    Anton on LinkedIn


    Resources

    STR Legends Live

    NoiseAware


    To subscribe to the podcast, please use the links below


    Click Here to Subscribe via iTunes


    Click here to Subscribe via Stitcher (Android users)


    If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks!

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


    July Airbnb News Update Aug 01, 2019
    Show notes

    Accommodations account for 40% of the global travel industry, bringing in a jaw-dropping $675B in 2018. And according to a recent report by Cleveland Research Company, accommodations also happen to represent the largest, fastest growing, and most profitable segment of the online travel market. So, how much of that $675B is credited to Airbnb and other short-term rental opportunities?


    Margot Schmorak is the cofounder and CEO of Hostfully, the SaaS company that helps short-term rental hosts save time, make more money and deliver a five-star experience by way of beautiful, personalized guidebooks for guests. Today, she joins me to discuss the Cleveland Research Company’s latest report on the global accommodations market, comparing the numbers for traditional vacation rentals and the sharing economy as well as the growth rates for each type of booking.


    Margot and I go on to cover the EU controversy around short-term rental transparency, explaining how Airbnb listings there are required to show the real price, fees included, from the start. Listen in for insight around Airbnb’s increase in Instant Book listings, the site’s new search tools for business travelers, and the recent launch of Airbnb Adventures.




    Topics Covered

    Article #1: Breaking Down the Global Accommodations and Vacation Rental Market

    · Global accommodations market = $675B

    · Vacation rentals 17%, sharing economy 6%

    · Sharing economy growing at 30-40%

    · Airbnb double revenue of Booking.com (same # of listings)


    Article #2: Airbnb Reaches Seven Out of Ten Properties Available for Instant Booking

    · All listings on Booking.com book instantly

    · VRBO/HomeAway 63%, Airbnb 70%

    · Airbnb hosts screen after booking made


    Article #3: Airbnb’s Sale of an Around-the-World Trip Has Left Some Customers Angry

    · 12-week Around the World in 80 Days sold out

    · Complexity makes difficult to scale, manage


    Article #4: How to Earn Airline Miles & Points Through Airbnb

    · Requested during Chesky Twitter chat

    · Includes Delta, Qantas and ANA


    Article #5: Airbnb Offers Greater Price Transparency in Europe After Regulatory Threats

    · Required to show real price from start (with fees)

    · Like to see worldwide implementation


    Article #6: Airbnb Introduces New Search Tools for Business Travelers

    · Work trip filter under stay type

    · Listings highly rated by business travelers


    Connect with Margot


    Hostfully

    Margot on LinkedIn


    Resources


    Article #1

    Article #2

    Article #3

    Airbnb Adventures

    Article #4

    Delta|Airbnb

    ANA|Airbnb

    Qantas|Airbnb

    Inspirato

    Article #5

    Article #6

    Airbnb for Work

    GPFYP Facebook Group

    Zapier

    Rezfest

    2019 VRMA International Conference



    To subscribe to the podcast, please use the links below

    Click Here to Subscribe via iTunes

    Click here to Subscribe via Stitcher (Android users)

    If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks!

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


    How to Rent Your Car on Getaround Jul 25, 2019
    Show notes

    Looking for ways to supplement your STR income? Chances are, most of your Airbnb guests are renting a car locally to explore the area while they travel. Why not make extra money by offering YOUR car on a site like Getaround?


    John William Johnson is the founder of Happy Healthy Long Life, an online store dedicated to products that promote health and wellbeing. He is also a veteran short-term rental host and runs a car sharing business through the site Getaround. John takes full advantage of his status as a digital nomad to travel internationally, often trading his pet sitting services for a free place to stay.


    Today, John joins me to discuss the process of renting cars on Getaround, explaining how the service differs from Turo and sharing his tips for optimizing a business on the site. He reflects on his 10 years of experience with Airbnb, describing how he evolved as a host and why he’s phasing out his STR business in Portland. Listen in for John’s advice on becoming a digital nomad and leveraging the sharing economy to generate income!


    Topics Covered


    John’s decade of experience as an Airbnb host

    • Listed room, then entire house in Portland
    • Phasing out STR business as rules change

    John’s advice for aspiring Airbnb hosts

    • Must like people, be willing to take risk
    • Talk to guests before stay in home

    The process around renting cars on Getaround

    • Platform installs device in car
    • User unlocks car with app
    • Rent by hour or day (e.g.: $6/hour, $36/day)

    John’s tips for optimizing a business on Getaround

    • Purchase older car OR electric car
    • Park in well-trafficked location

    How insurance works on Getaround

    • Check car after use, photos of damage
    • Platform sends check for repairs

    Where John is looking to invest in STR property

    • Opportunities in Spain, Portugal and Africa
    • Research AirDNA + International Living

    How John trades pet sitting for a place to stay

    • Apply on sites like Trusted House Sitters
    • Pick city and see what’s available

    John’s insight on leveraging the sharing economy

    • Trust your gut, not the gurus
    • Take calculated risks


    Connect with John


    Healthy Happy Long Life

    Healthy Happy Long Life on Amazon


    Resources


    Getaround

    Turo

    Drivy

    AirDNA

    International Living

    International Living Real Estate Trend Alert

    Trusted House Sitters

    House Carers

    Rover

    Amazon Seller Central


    To subscribe to the podcast, please use the links below

    Click Here to Subscribe via iTunes

    Click here to Subscribe via Stitcher (Android users)

    If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks!

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


    Grow Your Short-Term Rental Business with Smartbnb Jul 18, 2019
    Show notes

    What’s the biggest obstacle hosts and property managers face in growing a short-term rental business? For most, the frustration comes from the sheer volume of communication necessary to run a large portfolio of properties. But what if you could automate both your guest messaging and operations—without sacrificing personalization?


    Pierre-Camille Hamana is the founder and CEO of Smartbnb. the leading guest experience platform for short-term rentals. Pierre-Camille and his team are on a mission to support hosts and property managers in running their guest communications and operations at scale. Today, he joins me to explain how Smartbnb is expanding to offer its customers new functionality in terms of business metrics and automated operations.


    We discuss Smartbnb’s ability to automate personalized messaging and support multiple languages, and Pierre-Camille describes why Smartbnb is adding features to streamline the operations of a STR business and allow property managers to grow their portfolio across platforms. Listen in for insight around Smartbnb’s new metrics product and learn how Smartbnb can help you scale your own STR business!


    Topics Covered


    The fundamentals of Smartbnb

    • Help hosts deliver great guest experience at scale
    • Serve 2K customers, 65K properties around world


    How Smartbnb automates personalized messages

    • Machine learning to detect common questions
    • Access to data allows for customized reply


    Smartbnb’s multiple language support feature

    • Supports same 29 languages as Airbnb
    • Adapts messages based on culture


    Why Smartbnb is expanding to include operations

    • Identify pain points in talking to customers
    • Need to streamline operations as grow portfolio


    The STR platforms Smartbnb integrates with

    • Airbnb, HomeAway and VRBO
    • In talks with Expedia, Booking.com


    The metrics product Smartbnb added last November

    • Property managers need easy way to calculate
    • Occupancy rates, time to respond, growth, etc.


    How much it costs to use Smartbnb

    • Free trial for 14 days
    • €15 or $18 per month for first 2 listings
    • Fee for additional listings that generate revenue


    Connect with Pierre-Camille

    Smartbnb

    Pierre-Camille on LinkedIn


    Resources

    Pierre-Camille on GPFYP EP125

    Airbnb

    HomeAway

    Booking.com

    VRBO

    Expedia


    To subscribe to the podcast, please use the links below

    Click Here to Subscribe via iTunes

    Click here to Subscribe via Stitcher (Android users)

    If you like the show, please consider leaving the show a review in iTunesor Stitcher. A couple minutes of your time can help the show immensely! Thanks!

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


    Acquiring Properties Through Creative STR Strategies Jul 11, 2019
    Show notes

    Traditional real estate investing requires saving for a down payment and securing a bank loan before you purchase an asset. And this process limits how often you can add properties to your portfolio. But that is not the only way to acquire real estate, and Scott Glass contends that with a little creativity, you can own more properties and accelerate the growth of your STR listings!


    Scott Glass is a serial entrepreneur and real estate investor who manages 65 STR units in his native Canada, the US and the Dominican Republic. He has been active in the space for nine years and full-time for the last five. Today, Scott joins me to share his unconventional method of acquiring more properties more quickly, the land contract or seller financing strategy.


    Scott explains how the above-average cashflow of the Airbnb model supports land contracts and walks us through the process of finding FSBO properties and negotiating with owner-investors. Listen in to understand how Scott’s focus on larger properties helps him stand out on STR sites and learn how he leverages what he calls clustering to accommodate large groups and earn a premium on his listings!


    Topics Covered


    Scott’s background in the STR space

    • Active nine years and full-time last five
    • Listings in Canada, US + Dominican Republic


    What inspired Scott to pursue Airbnb

    • Unconventional strategy to acquire properties
    • STR provides above-average cashflow


    Why Scott uses land contracts or seller financing

    • Deal directly with investor-owner
    • Find motivated seller living in different market


    How Scott finds seller financing deals

    • Basic research on Craigslist and Zillow
    • Search FSBOs by zip code (larger properties)


    The terms + conditions Scott proposes

    1. Cash offer for significant discount
    2. Zero down, balance of sale over 60 months


    Scott’s success with the land contract strategy

    • Recoup investment within two years
    • Own asset debt-free by year five


    The fundamentals of land contracts

    • Title held by owner until final payment
    • Value-add in lieu of down payment/interest


    Scott’s success in secondary markets

    • Attracts business travelers, tradesmen
    • Recoup investment in 15 months


    How Scott stands out on Airbnb

    • Large properties to accommodate groups
    • Less competitive and higher yield


    Scott’s cluster listing strategy

    • List entire nine-unit building (i.e.: weddings)
    • List entire floor (cluster of three units)
    • List clusters of two 60 days out
    • Make singles available 30 days out


    Connect with Scott

    Scott’s Airbnb Profile


    Resources

    STR Legends Live

    Craigslist

    Zillow


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