Get Paid For Your Pad | Airbnb Hosting | Vacation Rentals | STR Revenue Management

When David Bergmann joined our Legends X program in April 2021, he was a hectic host with 25 units and a dream to quit his full-time job.18 months later, David manages a portfolio of 110 STR units and a neighborhood laundromat!How did David scale his Airbnb business so quickly? And what did he learn along the way?David is Cofounder of Heartwood Furnished Homes, a short-term rental management company out of Columbia, South Carolina.On this episode of Get Paid for Your Pad, David joins me to explain how a solar eclipse inspired him to become an Airbnb host and why he started managing units for other STR investors.David shares what he’s learned about hiring team members before you need them, adjusting systems that aren’t working and saying NO to clients who aren’t a good fit.Listen in to understand why David bought a laundromat to support his STR business and learn how to save money by washing linens in-house as you scale.Topics CoveredHow a solar eclipse inspired David to become an Airbnb hostHow David and his wife got started managing units for other STR investorsWhy David joined the Legends X program in April 2021The top 3 lessons David learned in the process of growing from 25 to 100+ unitsInvesting in team members before you need them and hiring the right peopleWhat it looks like to adjust systems that aren’t working quicklyWhy it’s crucial to say NO to clients and guests who aren’t a good fitDavid’s experience with linens and why he decided to buy a laundromatHow much David is saving by washing linens in-houseWhen an Airbnb business might consider buying a laundromatResourcesHeartwood Furnished HomesEmail david@heartwoodfh.comLegends XThe One Thing: The Surprisingly Simple Truth Behind Extraordinary Results by Gary Keller and Jay PapasanLoopNetGPFYP on YouTubeGPFYP on InstagramSTR Legends MastermindFREE Airbnb Starter GuideReview GPFYP on Apple Podcasts  Email team@overnightsuccess.ioSponsorLegends X Short-Term Rental Accelerator Hosted on Acast. See acast.com/privacy for more information.

When working in the STR space, buying new properties to increase your bottom line is not always possible or probable. And sometimes, it's not even necessary. Sometimes increasing your revenue is as simple as renovating your current properties to attract your ideal guest avatar and maximize occupancy. So, how can you determine which renovations actually pay off, what to skip, and come up with a realistic budget for your project? On this edition of STR Conversations, Eric and I are breaking down how we are planning to do basic renovations to our current cabins at what's currently known as Strawberry Creek Village to begin transitioning them to fit our brand. Listen in as we share details about the current status of the Schoolhouse and the Daydreamers' Den and the types of renovations each of those properties needs to help us achieve $150K more a year in revenue. We'll share our philosophy for coming up with our vision, and the research we did to create a renovation budget that minimize costs while making the changes that will help us maximize occupancy and establish these properties as part of our Freewyld brand.   Plus, we'll share exciting news about upcoming high-level guests we will be hosting on the show. If you are interested in participating in the last Legends X STR Accelerator class for 2022, NOW is the time to book your call. Topics Covered Why we are renovating Strawberry Creek Village to align with our brand visionThe #1 question you need to ask before renovatingHow to use tools like AirDNA to research and understand what guests are seeking in your property's marketThe most important caveat to keep in mind when using AirDNA's data in your researchThe exciting thing we learned about our studio's performance in the marketHow to use your customer Avatar to determine which renovations will create the experience YOUR guests are seekingWhat type of renovations we are doing to bring the Strawberry Creek properties closer to the Freewyld visionThe biggest challenges with converting our Schoolhouse property into a 2-bedroom useable spaceJasper breaks down the elements he used to come up with a realistic investment-to-revenue ratioThe #1 lesson we are learning from this process Resources AirDNAGet Paid For Your Pad on YouTubeGet Paid for Your Pad Email ListSubscribe to GPFYP on Apple Podcasts FREE Airbnb Starter GuideSTR Profit AcademyEmail team@overnightsuccess.ioSponsored ByLegends X STR Accelerator Hosted on Acast. See acast.com/privacy for more information.

If you want to create a big brand identity as a small operator, you need to dig in and determine who you are and exactly who you want to serve.So how can you niche down and get specific about your guest avatar?One way is to determine a need you have that isn't being served and then fill that. That's what my guest today did.Rose Tipka of Your Family's Place offers multi-generational spaces designed to provide their guests with stress-free, nostalgic family vacations. Rose and her family launched their business after discovering how difficult it was to find the perfect getaway for their own large family. They currently operate 3 properties, including Mount Pleasant Lodge, designed to offer guests of all ages a chance to reconnect and experience that summer camp feeling you had as a kid. On this episode of Get Paid for Your Pad, Rose joins me to share the story of her husband's bold move while she was pregnant with their fifth child that helped them pivot into an industry they are passionate about, and launch a brand that helps other large multi-generational families enjoy the types of vacations they want to have.We discuss how they established a flourishing brand identity built on creating family-friendly spaces, with special touches that take the stress out of large group travel to ensure every customer will be a repeat customer.Listen in as Rose walks through the steps she took to home in on what their brand is and isn't and how that has helped them scale to launch their first million-dollar property while building a legacy brand for the future.Topics CoveredRose shares the story of how her husband bought their first property behind her back while she was pregnant and launched their STR journeyHow Mark Simpson inspired the idea behind the Your Family's Place brand-nameWhy being your own guest avatar is the #1 way to understand the needs of your guestsWhy flexibility is the key to serving large families in the STR industry long-termHow to create family-friendly properties that evoke nostalgiaWhat to pack into your properties to make them family-friendly, and stress-free for your guestsWhy Rose recommends working with professionals in all aspects of your STR businessHow Rose is using video to add a personal touch and form a personal connection with her guests before they arriveThe most important thing they did when establishing the Your Family's Place brandConnect with Rose TipkaYour Family's Place on InstagramYour Family's Place on Facebook ResourcesFREE Workshop: Learn the 3-Part Process to Scale Your Airbnb Business to $1M+How to Fill Your Calendar with Direct Bookings (Ep502)How To Use Email Marketing To Drive Bookings (EP332)Leave A Review of Get Paid for Your Pad on Apple podcasts for a chance to WINSponsored ByLegends X Short-Term Rental Accelerator Hosted on Acast. See acast.com/privacy for more information.

In the Legends X program, Eric and I coach people on how to get from Hectic Host to Short-Term Rental Legend. But we also happen to be students, applying the system we teach to the new Airbnb business we’re building—a hospitality brand known as Freewyld. So, where are WE on the journey from Hectic Host to STR Legend? And what does our signature VOS system look like in practice? On this episode of Get Paid for Your Pad, Eric and I give you an honest look behind the scenes of Freewyld, sharing the progress we’ve made in each of the three pillars—vision, operations and scale. We discuss the power in putting your brand vision and core values on paper and describe how automating our processes took us out of the day-to-day operations of Freewyld very quickly. Listen in for insight on building out a short-term rental team and find out why we’re dialing in our vision and operations before we focus on scaling Freewyld. Topics CoveredWhy we were able to move from Hectic Host to Rising Star so quicklyThe VOS system for building a STR business we teach in Legends XWhy it’s crucial to start by building a vision for your Airbnb businessHow your host vision map functions as a blueprint for decision-makingThe power in putting your brand vision and core values on paperWhy hospitality brands and traditional hosts are successful on AirbnbHow automating our property operations took us out of the day-to-dayThe difference between property operations and business operationsWhy I’m leading business operations (rather than hiring a COO)Why we’re dialing in vision and operations before we scale FreewyldResources  The Vision for Freewyld on GPFYP EP516Omar CovarrubiasOvernight SuccessLegends XGPFYP on YouTubeGPFYP on InstagramSTR Legends MastermindFREE Airbnb Starter GuideReview GPFYP on Apple Podcasts  Email team@overnightsuccess.io Sponsor Legends X Short-Term Rental Accelerator Hosted on Acast. See acast.com/privacy for more information.

When you own an STR business, there will always be issues. Someone will lose their key, someone will clog the toilet, a piece of furniture will break, and then there’s the money issue.Patrick Spanfelner was struggling with all those issues and more, all while parenting a one-year-old and a three-year-old with just one unit. He was the epitome of a hectic host. But all that changed. He's now successfully managing 39 units, including one of mine in Cali, Columbia.So, how'd he go from a hectic host barely hanging on to a successful host who seems to hardly work?Patrick Spanfelner has been living and investing in STR real estate in Colombia for over seven years. His current portfolio includes over 33 units. You can find his units at EXSTR Apartments and learn more about visiting, living, and investing in Cali and Colombia on his blog, The Cali Adventurer.On this episode of Get Paid for Your Pad, Patrick joins me to discuss how learning to automate and develop systems helped him to scale to 39 units.Listen in as Patrick shares how homing in on just one tool has made it possible for him to spend $0 on marketing and the critical strategy he uses to make every Airbnb reservation work for him now and in the future.Are you interested in learning some of the same tricks and tips our Legends X students are using to scale your business to $1m and beyond? We have a FREE workshop that will walk you through the steps so you can implement the formula to discover your perfect guest avatar, so you have guests dying to stay at your properties. Check it out NOW!Topics CoveredPatrick shares what his life was like before he learned to automatePatrick's #1 piece of advice for securing more reservationsWhy it's vital to determine where you add the most value to your operationHow Patrick is using the property abundance plan to dominate the market in his area even in this economyHow becoming an expert in his market area solved ALL of Patrick's marketing issues (hint: he doesn't spend any money on marketing)Why building relationships with developers is a hugely powerful scaling strategyHow focusing on a marketing channel you enjoy will help you build your business faster and with less stressPatrick's top 3 pieces of advice to grow YOUR Airbnb businessSmall actionable tips and tricks you can apply in your business right now for more successThe key strategy Patrick uses to make every Airbnb guest reservation work for him now (in the future)Connect with Patrick SpanfelnerPatrick on InstagramResourcesFREE Workshop: Learn the 3-Part Process to Scale Your Airbnb Business to $1M+Short-term Rental Investment Opportunities in Colombia - Ep515How to Manage Your Linen Efficiently - EP369Leave A Review of Get Paid for Your Pad on Apple podcasts for a chance to WINSponsored ByLegends X Short-Term Rental Accelerator Hosted on Acast. See acast.com/privacy for more information.

"The ones who are crazy enough to think that they can change the world are the ones who do," Steve Jobs Often in the busyness of working on our businesses each day, our brains try to drive us to focus on the tasks we can focus on today to get a result. So, we dig into those tasks that require a lot of physical and mental work. And, at the end of the day, we feel accomplished—and we are.  But we want more! We dream of creating a globally recognized brand, building community, and bringing something unique to the marketplace—all while creating a memorable customer experience. Yet we can’t make any significant traction on our dream for our STR business when we're stuck putting out fires and moving the needle at a snail's pace. So, how can you adopt a higher-level vision, attract the right people into your story, and scale at a different level, ultimately building something bigger than you ever envisioned? On this edition of STR Conversations, Eric and I share an update on our vision for Freewyld. In just 30 short days, things have taken off at a rocket's pace, and we've got much to share with you today. Listen in as we share what we created with our host vision map and working with Legends X helped us discover the blueprint we needed to scale Freewyld at a different level. We'll share the story of the discovery we made during the pandemic that helped us solidify our vision, how that clarity led to our connecting with the right people in our journey, and how you can do that for your brand, too. Plus, we'll share some exciting news about some upcoming high-level guests we will be hosting on the show. Topics Covered What is the #1 best way to build a businessHow the COVID-19 pandemic helped birth the most important aspects of the Freewyld BrandHow a longing for nature and disconnecting from technology created 'Freewyld' vibes and solidified the visionThe #1 way to create a more connected businessHow sharing your process becomes like a time capsule for your journey to share to help othersThe most important aspect of creating a story that your ideal guest avatar can connect withWhy following people who've achieved extraordinary things helps you aim higherWhy it's vital to stay in your lane of brilliance and hire the best for the restWhy getting super clear on what you want to build helps attract the right people to partner with you on your journey and connect to your visionHow to create a business that is truly in alignment with who YOU are Resources Get Paid For Your Pad on YouTubeLegends X STR AcceleratorJasper on InstagramEric on InstagramGet Paid for Your Pad Email ListSubscribe to GPFYP on Apple Podcasts FREE Airbnb Starter GuideOvernight SuccessEmail team@overnightsuccess.ioSponsored ByLegends X STR Accelerator Hosted on Acast. See acast.com/privacy for more information.

“Earn dollars, spend pesos, that’s a very attractive proposition these days,” Patrick SpanfelnerJust 4 hours away from Miami, Cali is the 3rd largest city in Colombia. With an amazing climate year-round, exceptional nightlife, and entertainment, it's the go-to place to live a high quality of life at a low cost. For investors, Colombia doesn't have any restrictions on foreign ownership. There's a great pool of inexpensive contractors, architects, and so forth, and affordable service. Add to that the possibility of a 10% profit after costs and the luxury of soaking up the tropical sun and investing in the emerging Latin market sounds like a great opportunity. But investing in Colombia or any Latin foreign country can also have some big drawbacks. So, how can you take advantage of the short-term rental investment opportunities in Colombia without the risks? Patrick Spanfelner has been living and investing in STR real estate in Colombia for over seven years. His current portfolio includes over 33 units. You can find his units at EXSTR Apartments and learn more about visiting, living, and investing in Cali and Colombia on his blog, The Cali Adventurer. On this episode of Get Paid for Your Pad, Patrick joins me to discuss the highlights and attractions of tourism in Cali, Colombia, and why it's the perfect place to live your digital nomad lifestyle. We'll discuss the pros and cons of investing in the STR market in Colombia and why now is a great time to take advantage of the strength of the US dollar. Listen in as Patrick shares the story of how one of his investments took the wrong turn, costing him most of his life savings, and how you can eliminate most of the risk when investing in STRs in a foreign market.Topics CoveredPatrick shares the story of his journey to Colombia and investing in AirbnbsWhy now is a good time to look abroad for your real estate investmentsHow the heavyweight US dollar is assisting foreign investors in getting more bang for their buckPatrick shares the average nightly rates in Cali, ColombiaWhy it's a cash market for foreigners in ColombiaThe pros and cons of investing in ColombiaInsider tips to eliminate most of the risk of investing in a foreign marketThe pros and cons of managing properties internationallyWhy you need a great manager if you are not planning on being 'on the ground' with your STR investmentsPatrick walks us through the legalities of paperwork for investing in ColombiaThe mix of tourists and attractions for travelers and investorsWhy Cali is such a great place for digital nomadsThe most crucial factor to consider when investing internationallyConnect with Patrick SpanfelnerEXSTR ApartmentsPatrick on Instagram ResourcesGet Paid for Your Pad YouTube ChannelLeave A Review on Apple podcasts for a chance to WIN Sponsored ByLegends X Short-Term Rental Accelerator Hosted on Acast. See acast.com/privacy for more information.

If you’re an Airbnb host with a small number of units, you may not think branding is all that important. But if you want to grow your STR business and enjoy long-term success, it’s never too soon to upgrade from host to hospitality brand. On this episode of Get Paid for Your Pad, Eric and I sit down to discuss why it’s so important for STR hosts to build a hospitality brand and how branding is born out of the vision of what you want to create. We walk you through the three key elements of a hospitality brand, weighing in on how branding informs every decision you make—down to the soap and toilet paper you choose for your STRs. Listen in to understand why a hospitality brand is so much more than a logo and learn how to take the first steps in branding your Airbnb business! Topics CoveredWhy we hired a creative director for Freewyld and what the role entailsThe 3 key elements of a hospitality brand—visuals, language and productThe power of thinking BIG and sharing the idea behind your brand with othersThe misconception that a brand is simply a name and a logoHow a brand is born out of the VISION of what you want to createHow branding informs every decision your make for your short-term rentalsWhat I love about some of my favorite hospitality brandsWhy it’s a problem when the branding doesn’t align with the guest experienceWhy branding is important for both big and small vacation rental companiesHow to start building a brand by creating a host vision map and vibe bookResources  Freewyld on PinterestStrawberry Creek VillageShangri-La HotelCitizenMThis Is Marketing: You Can’t Be Seen Until You Learn to See by Seth GodinAvantStayGPFYP on YouTubeGPFYP on InstagramSTR Legends MastermindFREE Airbnb Starter GuideReview GPFYP on Apple Podcasts  STR Profit AcademyEmail team@overnightsuccess.io Sponsor Legends X Short-Term Rental Accelerator Hosted on Acast. See acast.com/privacy for more information.

Do you dream of growing your short-term rental portfolio to tens or even hundreds of units? Yes, a successful host can invest their profits in buying additional STRs. But it doesn’t take long to run out of your own money. So, what if you could use other people’s money to purchase more vacation rentals? How does it work to fundraise capital from investors for your STR business? Daniel Kalenov is Chief Investment Officer at Diversus, a boutique private equity firm that invests in luxury hospitality and affordable housing. Since 1999, Daniel has analyzed, purchased, repositioned and managed income-producing real estate assets, and he has an MBA from Harvard Business School. On this episode of Get Paid for Your Pad, Daniel joins me to explain how his mother’s experience with the stock market inspired his interest in real estate investing and why he made the shift from single-family rentals to the STR industry. Daniel shares his best advice for hosts who want to grow their portfolio through fundraising, describing how a private equity fund works and how to educate prospective investors on STR opportunities. Listen in for insight on partnering the right deal with the right investor and learn how Daniel has built a global portfolio of ultra-luxury STRs, mobile home parks and boutique hotels. Topics CoveredHow Daniel and his mother emigrated from Russia to the USWhy Daniel’s mother lost much of her retirement savings and how that experience led him to real estate investingWhat inspired Daniel’s shift from investing in single-family rentals to the STR industryHow Daniel’s private equity fund was born when he ran out of his own moneyDaniel’s advice to STR hosts who want to grow their portfolio through fundraisingWhy Daniel suggests sitting down face-to-face to educate prospective investors around the opportunity in STRsHow Daniel explains private equity as pooling money from individuals to fund a real estate dealHow Daniel leveraged fundraising to scale his portfolioWhy Daniel focuses on luxury hospitality and affordable housingDaniel’s 2 boutique hotel projects in Belize and why he chose that marketWhy it’s crucial to couple the right deal with the right investorConnect with DanielDiversus FundDiversus Fund on LinkedInEmail daniel@diversusfund.comResources Rental with a ViewGringo: The Dangerous Life of John McAfeeMahogany Bay Resort by HiltonSix SensesBocas Del Toro, PanamaSTR Legends MastermindEmail team@overnightsuccess.ioSponsorLegends X Short-Term Rental Accelerator Hosted on Acast. See acast.com/privacy for more information.

Are you a problem solver who understands everything from products to systems and people to profit?Have you built a STR business with over 100 listings?Have you ever thought of becoming a coach?If so and you want to find out how you can get started impacting people’s lives and businesses, this episode is for you.Teaching something to another person or helping them get started in your space elevates both of you and enables you to become a better CEO and business owner.And the benefits don’t stop there. Sharing your knowledge while working with influential people that are in the same business as you are while trying to solve the same problems and achieve similar goals is priceless.On this edition of STR Conversations, Eric and I share a new opportunity to join our Overnight Success Team as a coach.We share what we are looking for in coaches, the requirements to join our team, and the #1 criteria we are looking for in an Overnight Success Team Coach.Listen in as we share our insight into how great coaching trickles down into your entire organization and how major YouTube phenomenon Mr. Beast has become legendary by reaching back and pulling others forward (for FREE).Plus, we’ll share the biggest impact of being a coach from Rebecca Slivka, STR Legends X 90-Day Accelerator coach.Do you want to join the Legends X Team as a coach? Click here to learn more and apply for the role.Want to be a part of the 5th Legends X Short-Term Rental Accelerator class beginning October 17? Applications are still open. Apply NOW!Topics CoveredHow surrounding yourself with strong coaches forces you to grow for more impactHow you can give back in your marketplace while raising the bar for your own business3 life-changing benefits you get from coaching (or joining our team)The BIGGEST impact of being a coach from Rebecca Slivka STR Legends X 90-Day Accelerator coach (hint: it’s not the money)The #1 criteria we are looking for in a coachThe number #1 factor to consider BEFORE applying to become a coach with usThe ONE reason you shouldn’t enter coachingHow to step out of imposter syndrome so you can impart your knowledge to help othersThe requirements and commitment for the coaching position with Legends XResourcesMr. Beast's YouTube ChannelMr. Beast on Joe RoganExpert Enough: The Fastest Way to Create a Career as a Go-To AuthorityFrom Master Leasing 100+ Units to Owning Boutique Hotels with Rebecca SlivkaSubscribe to GPFYP on Apple PodcastsFREE Airbnb Starter GuideEmail team@overnightsuccess.ioSponsored ByLegends X STR Accelerator Hosted on Acast. See acast.com/privacy for more information.