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

In this influencer-fueled world, we are constantly told that we must hit certain milestones to be a 'real business.' But the truth is, out of the 28 million companies in the United States, only 4% ever reach $1 million in revenue. And from there, only about 1 in 10 makes it to $10 million in revenue. Scaling requires an intentional focus on the "four major decision areas every company must get right: People, Strategy, Execution, and Cash." So, how can you scale your STR business and achieve the growth you envision? We've just started reading Scaling Up: How a Few Companies Make It...and Why the Rest Don'twith the STR Legends Mastermind, and it's already been influential for our team. For the next four months we will devote an episode of Get Paid For Your Pad to going through the book's different sections, "People, Strategy, Execution, and Cash." On this episode of STR conversations, Eric and I share some of our key takeaways from the people section of Scaling Up. Listen in f

"In the summer of 2014, we were in Vegas, trying to figure out how to sell more books, so we decided to start a podcast. We bought a mic and messaged a host we knew to interview for Episode 1."—Jasper Ribbers That impulsive decision led to the long running Get Paid For Your Pad podcast, with over 1.3 million downloads. Today we are celebrating a milestone—the 500th episode! On this edition of STR Conversations, Eric and Jasper are switching seats, with Eric talking over the mic for an interview with Jasper. From the "Traveling Dutchman" travel blog to the Get Paid For Your Pad book, Jasper shares his journey to the successful Get Paid For Your Pad podcast.  Listen in for a glimpse behind the scenes of the podcast, the biggest challenges on the journey to Episode 500, and the #1 key to the show's success. From the mom-and-pop hosts to the biggest titans in the industry, Jasper shares his favorite episodes and the life changing lessons he's learned from his guests along the wa

The Airbnb industry is evolving, and, with it, so are the visions STR hosts hold for their businesses. Gone are the days of throwing up any listing and expecting success. The industry has changed. There is a lot more education available, offering new ways for hosts to learn what is possible for them and the business they want. Before each Legends X Short-Term Rental Accelerator class, Eric spends his time on the phone talking to potential participants about what they are looking for to take their business to the next level. So, who are the up-and-coming hosts of today, and what are STR business owners seeking to sustainably grow their business to the next level? On this edition of STR Conversations, Eric and I sit down to discuss the 3 biggest things applicants are seeking for their business when applying for the Legends X program. We walk you through how our VOS system helps participants in the class get clear on what they want and then implement it to build a sustainable business.&n

Our GDPR privacy policy was updated on August 8, 2022. Visit acast.com/privacy for more information.

You want to drive more bookings for your Airbnb properties at a higher revenue. To do that, you know you need to create experiences that will connect with your guest avatar and are cohesive to your brand.But before you start renovating, you need to understand what the ROI will be and if the money you spend be worth it for your bottom line and the guest experience.So how do you create a budget for the guest aesthetic you seek and still make a profit?On this episode of Get Paid for Your Pad, Eric and I walk you through the questions you need to ask before you begin to make your renovation budget.We'll walk you through all the small details you need to consider when determining which elements to select to assure you are creating the experience your guest is looking for when they book your property.Listen in for insight into how creating world-class experiences can help you justify higher prices. Plus, how to cultivate the same experiences the big hoteliers do by focusing on the five senses.Topics CoveredWhy the

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 t

Accountability is what drives results in your personal life, for your health goals, for your teams, and especially in your business.Accountability is everything for scaling a business. It's also one of the biggest things that can hold STR entrepreneurs from reaching their goals. Most of the hosts we talk to want to grow in their business, but they're stuck in the same spot, experiencing the same challenges over and over because they haven't created accountability within their team. So how do you add layers of accountability to your business and team dynamic? On this episode of Get Paid for Your Pad, Eric and I share some ways we've used accountability in our own lives to reach our personal and business goals. We'll walk you through how we use layers of accountability in our businesses, with our team, and in the Legends X program so you can reach your STR business goals much sooner. Plus, why pain points are an excellent motivator for results. Listen in for insight into why we ope

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 s

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

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

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 com

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 goa

See acast.com/privacy for privacy and opt-out information.

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

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 deta

It's helpful for property management companies to use multiple Airbnb accounts to simplify overseeing numerous properties. But what are the pros and cons of managing several accounts? And how can you set things up for more autonomy? Jason Sterner is the Founder and CEO of Southern Homestay, LLC. Since its inception in 2017, Southern Homestay has strived to create exceptional experiences for its guests while helping investors turn their property liability into income-producing assets through Airbnb. The company aim is to serve people well while building long-term, lasting relationships with its clients. On this episode of Get Paid for Your Pad, Jason joins me to explain how he got started in the Airbnb space, how his family built their business and the lessons they've learned along the way. He shares some of the challenges and payoffs of managing multiple Airbnb listings and how Southern Homestay is adding value to their business partnerships. Listen in for Jason's insight into how to

If you're trying to build a business, you must lead other people. If you're not leading people, you just have a job.When starting out, entrepreneurs often show up with ego, fear, and concern and try to control every situation. But that doesn't solve problems. Your ego might get a win, but you're not actually getting closer to your end goal.So, what is leadership, really? And how can you become a better leader for your team?On this episode of Get Paid for Your Pad, Eric and I explain why leadership is the number one skill set you need to learn to grow your business.We'll share the difference between leaders and managers and how great leadership inspires teams to work together toward a primary goal, setting the tone for the organization's culture.We discuss unconscious ways you might be affecting your culture and your business in a negative way and share some resources that will help you become a better leader for your team.Listen in to understand why it's critical to build your leadership skills to grow someth

Do you want to maximize your Airbnb rental revenue without spending hours adjusting your prices? As Airbnb hosts, we want to set the best price for our listings to both leverage our income and increase our bookings. But how do we do that without a lot of hands-on management? Jeff Breece is the Head of Revenue Management at Beyond, formerly Beyond Pricing. Since 2013, Beyond has been providing STR managers and owners the tools to help them get, grow, and keep more revenue by using automated dynamic pricing for the best price every day. On this episode of Get Paid for Your Pad, Jeff joins me to explain how to put Beyond's dynamic pricing algorithm to work for you to increase the revenue on your listings. He shares the key areas STR business owners should examine when they start using pricing algorithm software as well as common mistakes to avoid. Listen in for Jeff's insight into what variables to consider when setting your base price and the most important metrics to focus on to m

See acast.com/privacy for privacy and opt-out information.

What if you could turn openings on your Airbnb calendar into free marketing? Jordan Kahana is the Cofounder of Stayamo, a platform that connects STR hosts with social media influencers, allowing vacation rental operators to exchange free stays for promotion from top content creators. On this episode of Get Paid for Your Pad, Jordan joins me to explore how Airbnb hosts benefit from working with an influencer, explaining how to use lifestyle photography to market your STR and what to do if your unit isn’t Instagrammable. He discusses why the quality of an influencer’s photos is as important as their follower count and describes how to hold a content creator accountable for delivering on your agreement. Listen in to understand best practices for working with content creators to market your STRs and learn how Stayamo can help you connect with influencers who are the right fit for your Airbnb! Topics Covered How Jordan defines a social media influencer vs. a content creatorHow an Airb