Thanks For Visiting

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337. Broken Motel Dreams: Behind the Scenes of a Failed Real Estate Deal Feb 29, 2024

Show notes

Today’s export guest is Tanya Rooney, a creative real estate seeker, life guide and owner of BAFS Real Estate + Yay You’re Here Properties. We’re thrilled that she’s taken the time to join us today to talk about a very important, and very on-trend, topic in our industry: motels and mid-term rentals.

She gives us the low down on a painstaking deal that did NOT go through, sharing important lessons so you can better understand and take action on your own real estate opportunities in the future. We’re talking underwriting, we’re talking numbers, we’re talking inspections – all the juicy behind-the-scenes nuance that you won’t see on TikTok or in YouTube comment sections.

Tanya joined our membership years ago and has always been a champion of masterminds, really leveraging the power of networking. She’s a great resource for other hosts and a perfect example of how, even when things don’t go exactly as planned, they can be of benefit to our end goals.

(00:01:26) #STRShareSunday: @elylogcabin

(00:05:42) BTS of Tanya Rooney’s Short-Term Rental Business

(00:12:34) Setting Up an Exciting New Real Estate Deal

(00:24:36) Inspecting a Potential Motel Acquisition

(00:26:58) Leveraging Her Network to Underwrite the Deal

(00:35:29) Interior Design on a New STR Space

(00:37:53) When (and How) a Motel Deal Breaks Down

(00:44:37) Important Lessons & Tough Takeaways

(00:50:28) Making the Magic Happen Through Networking

Resources:

• Visit thanksforvisiting.com/workshop to watch our Hosting Business Mastery Method workshop!

• Airbnb Essentials Checklist: hostchecklist.com

• #STRShareSunday: @elylogcabin

• Sign up for STRInsights: app.strinsights.com

• Instagram: @tanyarooneymn

• Get ahold of Tanya: tanyarooney.com

• Yay You’re Here Minnesota: yyhmn.com

• Read: Hospitable Hosts 3

• Mike Hicks: Instagram and TikTok

Thanks for Visiting is produced by Crate Media.

Mentioned in this episode:

Make More Money This Year | Join our LIVE Workshop!

Breezeway | Go to breezeway.io/tfv to claim your free implementation when you start a Breezeway account.

Minoan | Visit MinoanExperience.com and tell them TFV sent you!

Hostfully | Go to https://www.hostfully.com/tfv and use TFV100 to get $500 off your subscription.

336. Hosting Hotline: Beginner Steps to Host a Parent-Child STR Listing Feb 27, 2024

Show notes

Welcome back to the Hosting Hotline! This is an Ask Me Anything where each week we’ll answer your questions on Airbnb, STRs, real estate, and everything in between.

Whitney asks:

Can I create a parent-child listing for two homes that are next door to each other? I own one of them and my neighbors own the other. I'm the co-host for their house. I would like to create a parent-child listing to accept large groups that can stay in both homes, but I'm also aware that there may be tax consequences or other complications I may be missing by accepting a booking for both homes at once.

I'm wondering if there's a way to create a parent-child listing and accept inquiries – and then when they do visit the page to book both – direct them to each individual listing. Any insight would be really helpful.

(00:01:21) Question About Listing Neighboring STR Properties Together

(00:03:00) What is a Parent-Child Short-Term Rental Listing?

(00:05:38) Pro Tips for Hosting a Unique Parent-Child Vacation Rental

(00:08:27) Leverage Data to Make Better STR Decisions

Thanks to everyone who submitted questions. To hear your voice on the show and send a question to Sarah and Annette, submit your burning hosting questions at: hostinghotline.com.

Resources:

• Visit thanksforvisiting.com/workshop to watch our Hosting Business Mastery Method workshop!

• Airbnb Essentials Checklist: hostchecklist.com

• Hosting Hotline: Listing Your Airbnb As A Parent-Child Setup #232

• Parent Child Listings for Airbnb Properties - How To Create

• Sign up for Relay

• Recommended STR analytics tools: PriceLabs, AirDNA, and KeyData

Thanks for Visiting is produced by Crate Media.

Mentioned in this episode:

Make More Money This Year | Join our LIVE Workshop!

Quiz | Take our quiz to reveal your hosting personality style!

335. Tips for Effectively Welcoming Dogs to Your Short-Term Rental Feb 22, 2024

Show notes

Today’s expert guest is Sara Sokol. Sarah is the creator of the Dogs Welcome Facebook group and vacation rental listing website as well as owner/operator of her own very pet-friendly, and award winning, vacation rental on the coast of Maine.

She created the Dogs Welcome community as a place to connect dog friendly STR hosts with humans who travel with their dogs as a place to advertise her own property and has watched the community explode with growth over the past year and a half. Its website now features sortable listings to make it even easier for travelers with their pets to find appropriate lodging.

We detail her journey from dog training into dog hosting, reveal her incredible communication style for conveying house rules as they relate to pet behavior, and spend a healthy chunk of time on cleaning recommendations, pet fees, and the all-important couch covers.

If there’s one thing we know about people, it’s that they love (and travel) with their furry friends. Opening up your listing to pets is a surefire way to expand your audience and supercharge your bookings – as long as you have the right plans and policies in place to make it work.

(00:01:24) #STRShareSunday: @hillsideamble

(00:05:06) Sarah Sokol: Pet Vacation Expert

(00:08:41) Defining Pet-Friendly vs. Pet Welcoming

(00:16:37) Being a Good Neighbor as a Pet-Friendly STR

(00:22:18) Managing Damage & Special Cleanings

(00:41:37) Dogs Welcome Facebook Group

Resources:

• Visit thanksforvisiting.com/workshop to watch our Hosting Business Mastery Method workshop!

• Airbnb Essentials Checklist: hostchecklist.com

• Website: dogs-welcome.net

• Sara's favorite things: dogs-welcome.net/my-favorite-things

• Breezeway pet-friendly checklist: breezeway.io/pet-checklist

Thanks for Visiting is produced by Crate Media.

Mentioned in this episode:

Make More Money This Year | Join our LIVE Workshop!

Hostfully | Go to https://www.hostfully.com/tfv and use TFV100 to get $500 off your subscription.

Minoan | Visit MinoanExperience.com and tell them TFV sent you!

Breezeway | Go to breezeway.io/tfv to claim your free implementation when you start a Breezeway account.

334. Hosting Hotline: What’s the Secret to Scaling a Short-Term Rental Business? Feb 20, 2024

Show notes

Welcome back to the Hosting Hotline! This is an Ask Me Anything where each week we’ll answer your questions on Airbnb, STRs, real estate, and everything in between.

Jennifer asks:

I run Pepin Forest Treehouse in Wisconsin. How does growth become exponential and how do people tend to do it so quickly? What does that look like with debt-to-income ratios? How are people growing their businesses on such short timelines? What's the secret that I'm missing?

(00:01:23) What’s the Secret for Exponential STR Business Growth?

(00:02:59) FOMO & Unpacking Social Media Growth Narratives

(00:06:08) Unexpected Ways Someone Might Finance Real Estate Deals

(00:07:49) Reframing Your Mindset: Total Doors vs. Profit Margin

Thanks to everyone who submitted questions. To hear your voice on the show and send a question to Sarah and Annette, submit your burning hosting questions at: hostinghotline.com.

Resources:

Visit thanksforvisiting.com/workshop to watch our Hosting Business Mastery Method workshop!

Airbnb Essentials Checklist: hostchecklist.com

Thanks for Visiting is produced by Crate Media.

Mentioned in this episode:

Booked & Profitable Boot Camp | Get on the waitlist now at thanksforvisiting.com/waitlist

Make More Money This Year | Join our LIVE Workshop!

333. How To Make Facebook & Instagram Ads That Drive Bookings for Your Short-Term Rental Feb 15, 2024

Show notes

Today’s expert guest is Tara Zirker. Tara is the owner and founder of Successful Ads Club, a high-touch support training platform where she teaches thousands of business owners how to rapidly scale their small businesses through the power of Facebook and Instagram Ads with tiny budgets (and has received over 1,000 positive student reviews!).

She’s worked on ad campaigns with people like Marianne Williamson (New York Times bestselling author), Jordan Lee Dooley (multiple 7-figure lifestyle entrepreneur), and Hilary Rushford (multiple 7-figure style guru), and has spoken at large conferences like Social Media Marketing World & Traffic and Conversions.

In this episode, Tara shares how to get started with Facebook ads, even on a tiny budget – you can start with as little as $10 a day! We also discuss the most common mistakes people make, what metrics to watch to ensure you never pay too much for a lead, and how to avoid wasting money on Facebook Ads.

(00:01:07) #STRShareSunday: @lil.desert.cabin

(00:03:37) How Tara Got Into Digital Advertising

(00:08:14) Campaign Budgets : Big & Small

(00:11:09) Most Common Mistakes People Make

(00:19:21) Audience Retargeting & How To Do It Effectively

(00:23:02) What You Need: Platform, Financial & Time Commitments

(00:30:03) Tips for Measuring the Efficacy of Your Facebook Ads

(00:32:44) Top Tools for Generating Click-Worthy Creative

(00:38:09) Frequent Frustrations & Roadblocks to Avoid

Resources:

Visit thanksforvisiting.com/workshop to watch our Hosting Business Mastery Method workshop!
Airbnb Essentials Checklist: hostchecklist.com
Successful Ads Club: successfuladsclub.com
Website: tarazirker.com
Instagram: @tarazirker
Linkedin: Tara Zirker
#STRShareSunday: @lil.desert.cabin

Thanks for Visiting is produced by Crate Media.

Mentioned in this episode:

Hostfully | Go to https://www.hostfully.com/tfv and use TFV100 to get $500 off your subscription.

Make More Money This Year | Join our LIVE Workshop!

Breezeway | Go to breezeway.io/tfv to claim your free implementation when you start a Breezeway account.

Minoan | Visit MinoanExperience.com and tell them TFV sent you!

332. Hosting Hotline: Hosting Short-Term Rental Guests vs. Mid-Term Rental Tenants Feb 13, 2024

Show notes

Welcome back to the Hosting Hotline! This is an Ask Me Anything where each week we’ll answer your questions on Airbnb, STRs, real estate, and everything in between.

Caitlyn asks:

Midterm rentals are a really great option for a lot of us hosts. What do we need to be looking out for when looking for great tenants?

(00:01:47) Guests vs. Tenants: 28 Days Later

(00:05:13) Building Rental Processes in Zillow

(00:07:13) List Your Property as BOTH an STR & Midterm Rental

(00:12:39) How Do I Collect Rent from Mid-Term Rental Tenants?

(00:16:25) Preview of an Upcoming Episode Theme

Thanks to everyone who submitted questions. To hear your voice on the show and send a question to Sarah and Annette, submit your burning hosting questions at: hostinghotline.com.

Resources:

Visit thanksforvisiting.com/workshop to watch our Hosting Business Mastery Method workshop!
Airbnb Essentials Checklist: hostchecklist.com
How To Use The BRRRR Method for Short-Term Rental Financing #313

Thanks for Visiting is produced by Crate Media.

Mentioned in this episode:

Booked & Profitable Boot Camp | Get on the waitlist now at thanksforvisiting.com/waitlist

Make More Money This Year | Join our LIVE Workshop!

331. Use Data to Increase Profits in Your Short-Term Rental Business Feb 08, 2024

Show notes

Today’s expert guest is Kenny Bedwell, in a session recorded at TFVCON2023 in Columbus, Ohio. Kenny founded STR Insights in 2021 as a tool to help investors find the most advantageous STR markets for their unique circumstances using advanced data analytics.

We pulled Kenny aside to have a side chat – between his immensely popular educational sessions at the conference – to dig in a little deeper on what he had been presententing to attendees: How to use data to inform good decision making.

He shares the top mistakes people are making when researching and buying rental property and sheds some light on a few positive trends he’s seeing across the industry. We also touch on the idea of tagging along with the creation of new National Parks and share a few recommended analytics tools.

It’s 2024, people! Data analytics is table stakes to running any optimized business, especially in a space like ours, where so much personalized information is collected on a daily basis.

(00:01:27) #STRShareSunday: @eclipse_poconos

(00:07:29) Most Common Mistakes Made in Real Estate Prospecting

(00:12:28) Kenny Bedwell on the Future of the Short-Term Rental Industry

(00:14:55) Sarah & Annette Comment on Kenny’s Tips

Resources:

Visit thanksforvisiting.com/workshop to watch our Hosting Business Mastery Method workshop!
Airbnb Essentials Checklist: hostchecklist.com
#STRShareSunday: @eclipse_poconos
STR Insights: app.STRinsights.com
Visit rentresponsibly.org for information on what’s going on in your market
Recommended STR analytics tools: PriceLabs, AirDNA, and KeyData

Thanks for Visiting is produced by Crate Media.

Mentioned in this episode:

Make More Money This Year | Join our LIVE Workshop!

Hostfully | Go to https://www.hostfully.com/tfv and use TFV100 to get $500 off your subscription.

Relay | Go to https://relayfi.com/?referralcode=ThanksForVisiting for your FREE business banking account.

Breezeway | Go to breezeway.io/tfv to claim your free implementation when you start a Breezeway account.

Minoan | Visit MinoanExperience.com and tell them TFV sent you!

330. Hosting Hotline: Tips for Starting a Co-Hosting Business Feb 06, 2024

Show notes

Welcome back to the Hosting Hotline! This is an Ask Me Anything where each week we’ll answer your questions on Airbnb, STRs, real estate, and everything in between.

Claire asks:

My name is Claire and I have started managing a number of other Airbnbs on the island that I live on. I made the mistake of having the listings under my Airbnb account. I really need support on how to run this (co-hosting) business from an admin/legal point of view. What do I need to get in place so that I can grow?

(00:01:27) How Should I Expand My Airbnb Hosting Business?

(00:03:14) Finding the Perfect (Licensed) Co-Hosting Partner

(00:05:35) Understand the Nuances of Longer Term Listings

(00:08:26) Benefits to Being a Licensed Host or Co-Host

(00:09:23) Sarah’s Advice from Personal Experience

(00:12:38) Pros & Cons to Owners Keeping Their STR Listings

(00:14:40) Take Home Tips for Managing Rapid STR Business Growth

Thanks to everyone who submitted questions. To hear your voice on the show and send a question to Sarah and Annette, submit your burning hosting questions at: hostinghotline.com.

Resources:

Visit thanksforvisiting.com/workshop to watch our Hosting Business Mastery Method workshop!
Airbnb Essentials Checklist: hostchecklist.com

Thanks for Visiting is produced by Crate Media.

Mentioned in this episode:

Booked & Profitable Boot Camp | Get on the waitlist now at thanksforvisiting.com/waitlist

Make More Money This Year | Join our LIVE Workshop!

329. How to Identify Warning Signs of Human Trafficking in the STR Industry Feb 01, 2024

Show notes

Today’s expert guest is Catherine Ratcliffe. A vacation rental owner and host since 2018, she’s pivoted from a successful HR career to run a consulting business where she takes on tough subjects for employers and hosts – including today’s heavy topic, the global human trafficking crisis.

Catherine shares subtle details to look out for and security protocols to implement in your business to combat this horrific invisible threat. You will leave this episode with a list of new methods to root this evil out from where it lurks, to identify issues in your organization or that of your partners and vendors, and to act on what you see.

In the United States, we are the largest consumer of our own people. Host, guest, interested in our industry or not – if you are a member of society, this conversation applies to you. This is going to take everybody, globally, elevating our awareness and being on board with the mission of ending human trafficking.

(00:01:25) #STRShareSunday: @yyhminnesota

(00:06:20) Catherine Ratcliffe’s Mission & Inspirations

(00:13:59) Recommended Step-by-Step Training Protocol

(00:22:08) What Can STR Hosts Do to Combat Human Trafficking?

(00:31:45) How to Address Trafficking Issues That You Notice

Resources:

Linkedin: Catherine Ratcliffe
Polaris Project
The NO MORE Project
Alliance to End Human Trafficking
Florida Alliance To End Human Trafficking Training Course
Visit thanksforvisiting.com/workshop to watch our Hosting Business Mastery Method workshop!
Airbnb Essentials Checklist: hostchecklist.com
#STRShareSunday: @yyhminnesota

Thanks for Visiting is produced by Crate Media.

Mentioned in this episode:

Make More Money This Year | Join our LIVE Workshop!

Minoan

Minoan | Visit MinoanExperience.com and tell them TFV sent you!

Breezeway | Go to breezeway.io/tfv to claim your free implementation when you start a Breezeway account.

Relay | Go to https://relayfi.com/?referralcode=ThanksForVisiting for your FREE business banking account.

Hostfully | Go to https://www.hostfully.com/tfv and use TFV100 to get $500 off your subscription.

328. Hosting Hotline: Tips for Prioritizing Your Vacation Rental Offseason Jan 30, 2024

Show notes

Welcome back to the Hosting Hotline! This is an Ask Me Anything where each week we’ll answer your questions on Airbnb, STRs, real estate, and everything in between.

Samantha asks:

We are super slow right now. With the exception of trying to figure out how to fill my units, is there anything else you recommend that I can do to better prepare my space for when we are busy? Do you have suggested preventative maintenance? Do you use that time to update your listing? What do you recommend?

(00:01:32) Samantha Asks About Recommended Offseason Protocol

(00:02:35) Pressure Testing & Deep Cleaning

(00:03:41) Review Subscription Costs & Optimize Revenue

(00:06:16) Work on Your Business in the Slow Season

Thanks to everyone who submitted questions. To hear your voice on the show and send a question to Sarah and Annette, submit your burning hosting questions at: hostinghotline.com.

Resources:

Visit thanksforvisiting.com/workshop to watch our Hosting Business Mastery Method workshop!
Airbnb Essentials Checklist: hostchecklist.com
Breezeway preloaded checklists: https://hubs.la/Q01hkVLX0

Thanks for Visiting is produced by Crate Media.

Mentioned in this episode:

Quiz | Take our quiz to reveal your hosting personality style!

Make More Money This Year | Join our LIVE Workshop!

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