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

In the competitive and fast-paced world of short-term rentals, partnering with investors can be a game-changer for scaling your business. Partnering with investors is a great way to build up equity without getting a mortgage or investing your own funds. However, successfully finding and partnering with the right investors can be daunting. Josh Kristoff and his team at Nomad Capital Ventures have successfully scaled to 50+ units through partnerships. Josh is the Managing Partner of Nomad Capital Ventures, a real estate and property management company out of Jacksonville, Florida. He's participated in our Legends Mastermind and is currently in our Rising Stars Mastermind.  In this "Get Paid For Your Pad" episode, Josh joins me to explore scaling a short-term rental (STR) business to 50+ units through partnerships. He'll share his expertise and his team's experiences in understanding the market, finding investors to partner with, and why setting clear goals is paramount. Plus, the most important thing investors look for in a partnership. Listen in to hear Josh's experience with multichannel bookings (the good and the bad), the most critical factor in building the investor-operator relationship, and how you can get started scaling your STR business through partnerships. Topics Covered Josh shares what Nomad Capital Ventures does and how they successfully run four complementary businesses (with 7 kids in the mix)How Josh and his team use their network to find investor partnershipsJosh shares his journey in learning about property managementWhy Nomad Capital structures their deals as a 506 BJosh shares the importance of having a clear understanding of your goals before entering the short-term rental businessThe importance of conducting sensitivity analysis against projections to ensure protection for both sidesThe most crucial factor for working with investorsWhy communication is vital to building investor/operator relationships and trustWhat a relationship entails from an SEC standpointThe delicate dance of multichannel bookings: Jason shares the benefits (and drawbacks)Connect with Josh KristoffJosh KristoffNomad Capital VenturesNomad Hospitality on InstagramResources Get Paid For Your Pad on YouTubeJasper on InstagramSubscribe to GPFYP on Apple Podcasts FREE Airbnb Starter GuideSTR Profit AcademyOvernight SuccessEmail team@overnightsuccess.ioSponsor Legends X STR Accelerator

Due to inflation ​​in the current economic environment, investors are struggling to find a good return on their investments, with many investments offering a low rate of return or even resulting in a loss of money.So, we're seeing a shift in investor conversations, with high-wealth individuals more interested in parking their money in the right investments with the right people and getting involved in something exciting.If you have a unique vision, experience aiming vision, and you're solving a unique problem in the space, many investors want to get involved in short-term rentals.So, how do you start raising money for your Airbnb business, brand, and vision?Freewyld has raised $2.2 million from investors with a commitment of an additional $2 million for the expansion of one of our hotels and the goal of putting together $20 million worth of funding to acquire more projects this year.We have a vision and are focused on sharing what we're learning with you as we go.On this edition of STR Conversations, Eric and I are walking you through the most common questions people have when they first seek investors for the STR business.We'll discuss the three fundraising stages for your company, including friends and family, seed funding, and Series A funding, and dive deep into where to find your investors, the importance of building a network (and creating authority around it), and "karma capitalism."Listen in to learn why investors need startups as much as startups need investors and how you can offer something valuable and exciting to a potential investor.We're officially opening the Rising Stars Mastermind, a virtual mastermind group for short-term rental operators focused on growing genuine hospitality brands, acquiring real estate, building real teams and systems, and scaling their businesses. Click Here to learn more and set up a call.Topics CoveredThe unique advantages of investing in short-term rentals: tax benefits, appreciation, and increased revenue through hospitality brandingThe trend of high-wealth individuals looking to get involved in something excitingWhy your network is your net worth: the actual value and importance of ORGANICALLY networking with other entrepreneurs and investors and sharing YOUR real visionThe difference between seed capital and acquisition capital and how investors approach these two types of investments with different mindsets and risk tolerancesThe 3 things to focus on to build a successful short-term rental brandLaunching the Rising Stars MastermindResourcesLearn More about the Rising Stars MastermindGet Paid for Your Pad Email ListSubscribe to GPFYP on Apple PodcastsSTR Profit AcademyOvernight SuccessEmail team@overnightsuccess.ioSponsor STR Legends Mastermind

Many of the short-term rental hosts in our student groups reported a slowdown in bookings at the start of 2023. But that trend did not apply to Kimone Campbell. In fact, she had a record-breaking month in January! What is she doing to drive more bookings? Kimone is Founder and CEO of Adasa Properties, Orlando Luxury Stays and Kissimmee Luxury Stays. Kimone bought her first two short-term rental properties in March of 2020 and has expanded to a portfolio of 13 units generating $500K in revenue in just three years. On this episode of Get Paid for Your Pad, Kimone joins me to explain how a real estate coaching program inspired her interest in short-term rentals and where she gets the drive to take action fast in her Airbnb business. Kimone discusses how AI tools empower STR hosts to up our marketing game, describing how she’s using ChatGPT to create marketing campaigns for past guests and generate social media content quickly. Listen in for Kimone’s advice to up-and-coming Airbnb hosts around investing in coaching and learn how to leverage new technology to drive more bookings in your STR business! Topics CoveredHow a coaching program in real estate investment inspired Kimone to start a STR businessWhat working on a cruise ship taught Kimone about customer service and managing teamsHow Kimone’s business has grown to 13 properties and $500K in revenue in just 3 yearsHow Kimone is using ChatGPT to write email marketing campaigns for past guestsThe challenge Airbnb hosts face in creating consistent content and how we might use AI to overcome itHow to Leverage ChatGPT to plan a monthly social media calendar and write daily postsHow to make the content generated by artificial intelligence unique to your personalityHow ChatGPT empowers Airbnb hosts to up our game when it comes to marketingHow Kimone is establishing herself as an expert in the Florida market through Facebook groupsWhere Kimone gets the drive to implement new information fast in her STR businessKimone’s advice to up-and-coming STR hosts around joining networks and investing in coachingWhy Kimone would acquire more properties faster if she could go back to her first year in businessConnect with Kimone Orlando Luxury StaysOrlando Luxury Stays on FacebookOrlando Luxury Stays on InstagramOrlando Luxury Stays on LinkedInKimone on LinkedIn For full episode show notes visit: https://getpaidforyourpad.com/podcast/slowdown-this-airbnb-host-is-seeing-record-breaking-revenues-ep552/