Get Paid For Your Pad | Airbnb Hosting | Vacation Rentals | Apartment Sharing

8/8/2022

How to Build a Lifestyle Business Hosting Remotely

Ep. 496
Wouldn't it be great to be able to operate your STR business from anywhere while you travel and explore the world?True freedom is being able to operate your business from anywhere you are or feel like waking up in the morning. But is that really possible? And if so, what are the pros and cons?Sean McGregor is the Chief Experience Officer at Stay Work and Play. A digital nomad, Sean loves working remotely while traveling with his family. He's an Airbnb Superhost with over 2500 reviews and a 4.96 overall rating. His hosting story appears in the book Hospitable Hosts: Inspiring & Memorable Stories From Airbnb Hosts Around The World To Educate & Motivate.On this episode of Get Paid for Your Pad, Sean joins me to discuss how he turned his STR business into a lifestyle business hosting remotely with property owners all over the country—most he's never even met in person.Listen in as Sean shares how his business took off after he completed Legends X. He'll walk us through the tips and tools he learned from the program that have helped him hold fast to the goal he lives by for his digital nomad family and his ambitious host oath.Plus, the business hacks he uses so that anyone on his team can successfully replace him in the day-to-day of running his STR business.If you're interested in growing your business, we have a few spots in our next Legends X STR Accelerator class. Don't wait—Apply Now! Plus, our new FREE training: The Step-By-Step Plan for Scaling Your Airbnb Business to $1M and Beyond.Topics CoveredThe hacks Sean uses to put his business on autopilot so that he can live location independent with his family2 processes Sean put in place to achieve his high bar host oathWhy putting yourself into a traveler's mindset will help you deliver the best guest experience possibleHow he overcame the challenges of renting places he's never seenThe two-pronged discovery process Sean uses to ensure his guests leave a 5-star reviewHow he's addressing owner issues while smoothing things out for his teamWhy Sean thinks his location anywhere lifestyle has helped him work with more ownersThe #1 thing that helps him stay prepared for the curveballs that come up in his STR businessWhy his goal is to help other STR hosts become digital nomadsConnect with SeanSean on LinkedInResourcesScaling a Remote Co-Hosting Business While Maintaining a5-Star Guest with Sean McGregor (Ep390)The Step-By-Step Plan For Scaling Your Airbnb Business to $1M and BeyondHospitable Hosts: Inspiring & Memorable Stories From Airbnb Hosts Around The World To Educate & MotivateEmail jasper@getpaidforyourpad.comSponsored byLegends X STR Accelerator
8/1/2022

Leverage Long-Term Stays to Maximize Occupancy

Ep. 494
Many companies are shifting their employees to working remotely, allowing many people the flexibility to live more of a nomadic lifestyle.This has led the 30-plus day stays to become the fastest growing category on Airbnb right now.But what are the pros and cons? And is it profitable?Toby Doré currently manages over 20 units in 'Cajun Country' downtown Lafayette, Louisiana, and has over 5000 reviews on Airbnb. He's also a full-time sports psychology professor at the University of Louisiana and writes the travel blog, "The Cajun Traveler." Toby was in the first class of Legends X. His story appears in the book, Hospitable Hosts: Inspiring & Memorable Stories From Airbnb Hosts Around The World To Educate & Motivate.On this episode of Get Paid for Your Pad, Toby joins me to discuss how he transitioned his properties to 30-day plus stays during the pandemic to keep his business alive and why he's keeping them there in the fastest growing category on Airbnb.Listen in as Toby shares the two biggest lessons he's learned from having his properties in the 30-day plus leasing model, how he uses his travel blog as a marketing tool for his STR business, plus some important tips about LTR leases.The next Legends X STR Accelerator class begins February 28, 2023. If you're interested, apply now.Topics CoveredThe importance of contracts, leases, and tenant's rightsWhere Toby found 100% of the leads for his pandemic long-term rentalsThe biggest disadvantage of the 30-day leasing modelThe key difference between regular contracts and arbitrage contractsToby's pricing strategies for managing both his 30-day leases and his STRsWhy having a blog about your STR market is a powerful marketing toolWhy Toby decided to get involved in the Hospitable Hosts book projectThe 2 biggest lessons Toby learned when he transitioned to the 30-day+ leasing modelThe important connections Toby made through Legends XConnect with TobyThe Cajun Traveler on FacebookThe Cajun Traveler on InstagramResourcesHospitable Hosts: Inspiring & Memorable Stories From Airbnb Hosts Around The World To Educate & MotivateHospitable HostsThe Cali Adventurer BlogEP200: A Serial Airbnb Entrepreneur from LafayetteApply for Legends X STR AcceleratorGet Paid for Your Pad NewsletterSTR Legends MastermindEmail jasper@getpaidforyourpad.comSponsored byLegends X STR Accelerator
7/29/2022

2022 will be a Record Year for US Short-Term Rentals

Ep. 493
2022 is going to be a record year for US short-term rentals.Or is it?On the one hand, the data tells us the STR industry is doing great, while we also see the economic uncertainty, pain at the pump, and an increasing supply of STR units. Plus, there have been recent news reports about some of the big players in the industry going belly up.We're getting mixed signals.So how can we really understand what is going on in the STR industry so we can better plan our business strategies?On this episode of Get Paid for Your Pad, Eric and I share some recent STR industry data and articles.We offer our thoughts on the current hosting market and share consumer insight into why people are still traveling despite the rising cost of everything.We'll walk you through the impact of gas prices, the concern over the the surplus supply of STR units, and why some of the big STR players may have folded.Listen in for insight into what professional hosts are saying about how they are really doing in their businesses. Plus, where the excitement is right now!If you're an STR host who wants to grow or are looking to get started in the industry, we still have a limited number of openings in our 90-Day Legends X Short-Term Rental Accelerator. Apply TODAY!Topics CoveredWhy are big players in our industry going belly upWhy the micro-economy of STR and hospitality is still a good bet even nowWhy Blackstone is looking into digging deeper into the hospitality industryWhy major rental markets are still at 90% occupancy when gas prices are the highest everWhich types of STR hosts will do well in this down economyWhat Eric is learning from the hosts applying for the 4th class of Legends X Short-Term Rental AcceleratorResourcesWhy Hospitality is the Best Place to Work, Invest, and Innovate Now (and in the Years Ahead)Shuttered Property Manager WanderJaunt Is Trying To Sell Its AssetsSkiftAirDNA 2022 Mid-Year Outlook Update: Economic Adversity Can’t Stop STR GrowthLegends X Short-Term Rental AcceleratorSTR Legends MastermindSubscribe to GPFYP on Apple PodcastsEmail jasper@getpaidforyourpad.com Sponsored ByLegends X Short-Term Rental Accelerator
7/26/2022

How to Maximize ROI for Property Owners

Ep. 492
Competition is increasing in the property management market. More owners than ever are looking to find the best management company for their property that will also help them improve their ROI.So how can you, as a management company, help owners make the best use of their properties and enjoy their homes while still making the biggest ROI?Lisa Stotelmyre is the President of Yellow Brick Road Homes+, with properties nestled in Lake Arrowhead, CA, and Winter Park, CO. Lisa began her journey as a STR host in 2010 by purchasing a run-down property for 55K and increasing its value to 400K. Yellow Brick Road Homes+ specializes in managing 2nd homes for owners so they can enjoy their homes while enjoying the biggest ROI possible.On this episode of Get Paid for Your Pad, Lisa joins me to walk us through the lessons she learned as she transitioned from owning a few units to running a property management company.She shares her #1 reason for joining Legends X and the one philosophy she's learned to embrace from the training that catapulted her to the rising star program and her plans for Yellow Brick Road Homes+.Listen in as Lisa shares how she used what she learned during Legends X to go from a hectic host to a company with 15 to 18 units and a team that's helping her scale.Legends X STR Accelerator class 4 begins August 22, 2022. If you're interested, apply now.Topics CoveredWhy Lisa got involved in the STR marketHer organic transition from owning to managingThe most important things to consider when transitioning from an owner to a managerHow to create a property management success criterion so mangers and owners are on the same pageThe 3 standards Lisa puts in place for every owner clientThe 2 ways Yellow Brick Road Homes+ maximizes ROI for property owners while ensuring their money is well investedThe amenities investments that increase ROIThe #1 question to ask that increases your value as a property managerThe biggest thing Lisa took away from the Legends X training that helped her transition from a hectic host to managing her own property management companyConnect with LisaYellow Brick Road Homes+ on Facebooklisamarie@ybrhomesplus.com(562) 900-8132 ResourcesApply for Legends X STR AcceleratorGet Paid for Your Pad NewsletterSTR Legends MastermindEmail jasper@getpaidforyourpad.com
7/22/2022

Legends X Class 4 Enrollment is OPEN

Ep. 491
Most STR hosts start the same way, by hosting their own home or renting out an extra bedroom. But there are 5 stages in the hosting journey. So, how do you get from owning just one rental to growing as an entrepreneur and scaling your STR business into a successful 2 million dollar a year company?On this episode of STR conversations, Eric and I share that Legends X Class 4 Enrollment is now open. We'll walk you through some of the challenges the program solves for hectic hosts, and we announce the 7 figure coaches that will be participating in this round.We'll walk you through the Vision, Operations, Scale (VOS) system and how it has impacted the lives and the futures of the 127 companies that have already gone through the program. Listen in to learn about the power of getting off the 'lonely hosting island' where you're trying to figure things out on your own and into a program that can help you solve your STR hosting challenges surrounded by coaching support and community.We're looking for the right people to join the program. If you're interested, apply now for the Legends X STR Accelerator.Topics CoveredHow to determine where you are in the 5 stages of STR hostingThe stage of hosting where most STR entrepreneurs get stuckWhy it's harder to be successful as an entrepreneur than it is to have a corporate jobHow implementing the VOS system can help you scale more quicklyThe most important part of the VOS systemThe biggest impact STR entrepreneurs have gained from our previous Legends X coursesThe power of having a community support your entrepreneurial journeyWhy Legends X can help any entrepreneur in any industryThe #1 reason to join Legends X if you're currently a hectic hostResources Legends X Class 4 Enrollment From Hectic Host to Legend in Less Than 1 YearFREE Airbnb Starter GuideSubscribe to GPFYP on Apple Podcasts Get Paid for Your Pad Email ListEmail jasper@getpaidforyourpad.com SponsorLegends X STR Accelerator
7/19/2022

From Hectic Host to Legend in Less Than 1 Year

Ep. 490
How do you grow from one rental cabin in the woods to becoming well on your way to being Colorado's premiere boutique portfolio of luxury vacation rentals?Thomas Barry has worked in the private service industry with very high net worth families, offering high-touch hospitality services for 25 years. He started his STR business Hosting from the Heart, with his wife, Tina, in 2015 after the birth of his first child. Over the past seven years, HFTH has grown to 18+ unique luxury properties.On this episode of Get Paid for Your Pad, Thomas joins me to walk us through the home-away-from-home guest experience and the technologies Hosting from the Heart used that led to homeowners seeking them out for help in managing their luxury mountain properties.Listen in as Thomas shares ‌how he went from a hectic host and W-2 employee to a full-time STR entrepreneur. Plus, what he and his team learned from Legends X that helped them double their growth target in just 12 months to take them closer to their goal of being Colorado's premiere boutique portfolio of luxury vacation rentals.Topics CoveredHow expanding their family led Thomas and his wife to try the Airbnb modelThe core values and sole purpose of Hosting from The Heart (hint: it's not just about the money)The opportunity HFTH found through master leasingHow their use of dynamic pricing led to more owners signing with HFTHThe 3 big changes the Legends X STR Accelerator program helped Thomas make to catapult the growth of his businessHow Thomas went from hectic host and W-2 employee to full-time STR hostAn inside look at where Hosting from the Heart is focusing after attending the Legends X MastermindConnect with Thomas BarryHosting From the HeartHFTH on InstagramResourcesRegister for The Step-By-Step Plan For Scaling Your Airbnb Business to $1M and BeyondLegends X STR AcceleratorGet Paid for Your Pad NewsletterSTR Legends MastermindEmail jasper@getpaidforyourpad.com
7/11/2022

Scaling the Ownership Model in a Secondary Market

Ep. 488
One of the biggest challenges of the ownership model is scaling fast. It requires capital, partners, and contractors to keep things going.All significant challenges, especially when based in a secondary market.In January 2018, Rob Scarborough went from real estate flipper to accidental Airbnb short-term rental host. His company, Just Like Home Vacation Rentals, based in the Kansas City Metro market, got its start on the ownership side of things. Rob, who recently completed the Legends X program, has now leveraged the tools he learned in the program to grow his company to beyond what he thought was possible.On this episode of Get Paid for Your Pad, Rob joins me to walk us through his accidental start in the Airbnb market, the challenges of STR ownership and his 3 tips for flourishing in the ownership model.Listen in as Rob shares ‌how he’s using his experience to segue into the property management side of the STR industry. Plus, what he and his team learned from Legends X that is helping his company scale more quickly than they ever dreamed.Topics CoveredWhy Rob chose the ownership model for Just Like Home Vacation RentalsThe biggest advantage of the STR ownership model3 tips for flourishing in the ownership modelWhat to keep in mind when setting up your STR businessCreative ways to find capital for your STR investment propertiesThe best way to find the contractors you need in a smaller marketThe top 3 challenges of scaling the ownership modelThe tactic Rob and his partners use to force appreciationHow Rob’s own vacation persona affects his Airbnb ownership personalityWhat the COVID crisis did to solidify their business modelHow Legends X helped Rob and his team grow beyond what they thought was possibleConnect with Rob ScarboroughEmail RobResourcesRegister for The Step-By-Step Plan For Scaling Your Airbnb Business to $1M and BeyondLegends X STR AcceleratorGet Paid for Your Pad NewsletterSTR Legends MastermindEmail jasper@getpaidforyourpad.com
7/8/2022

Free Workshop to Scale Your Airbnb Business

Ep. 487
Every day through our various programs, Eric speaks with people worldwide running STR businesses, and he always asks them the same 3 questions.They often don't have the answers because they are too tied up in the day-to-day and unclear about where they're going with their company.But the answers to those questions could be the difference between a burned-out hectic host and owning a million-dollar Airbnb business.So, what are those questions? And what can you do to get the clarity you need to scale your STR business in any economy?On this episode of Get Paid for Your Pad, Eric and I announce our upcoming FREE 2-hour workshop called The Step-By-Step Plan For Scaling Your Airbnb Business to $1M and Beyond that will help you answer those questions and more.We share the mission behind Overnight Success and discuss the key to making educated, empowering decisions that will set your STR business up for long-term growth, no matter the economic situation.Listen in for the full details on this hands-on workshop where Eric and I will work with you to implement vital systems and processes from our 90 Day Legends X Program, giving you the takeaways you need to scale your STR Business NOW.Click here to learn more and reserve your spot for The Step-By-Step Plan for Scaling Your Airbnb Business to $1M and Beyond TODAY!Topics CoveredThe Overnight Success mission statement for a successful impact on the STR industryHow your mission statement impacts the success of your businessWhy we chose the parts of the 90 Day Legends X Program we will be sharing with you in the workshopThe most powerful way to energize your entire teamHow to flip the switch from scarcity to an abundant mindsetWhat to pay attention to NOW in your businessThe key to preparing your business for a slowdown in the economyThe critical elements you need for ultimate growth in your STR businessResourcesRegister for The Step-By-Step Plan For Scaling Your Airbnb Business to $1M and BeyondStart with Why: How Great Leaders Inspire Everyone to Take ActionRichard Fertig on STRs in 2022Legends X Short-Term Rental AcceleratorSTR Legends MastermindSubscribe to GPFYP on Apple PodcastsEmail jasper@getpaidforyourpad.com