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

Investor Cheat Code Podcast with Mike Simmons

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

Thank You for Listening!

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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:

• Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months
• WINNING DIRECT MAIL - How to CRUSH IT with direct mail!