Short Term Rental Management

In this episode of Short Term Rental Management, Luke discusses the importance of understanding guests who are unfamiliar with a vacation home. He emphasizes the importance of having empathy for new guests, proactive management and using things like guidebooks to demonstrate clear communication. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

On this week's episode, Luke is diving into the fundamental question: Do you even want to rent your house? He addresses some common concerns for hosts renting out their home and stresses the importances of not overcomplicating things with too many rules. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

On this episode of Short Term Rental Management, Luke and Chuck Kramer discuss the concept of parent-child listings in Airbnb and Vrbo. Chuck explains how to manage having two listings in one property to avoid double bookings and optimize rental opportunities. Whether it's offering different formats of the same property or renting out connected units separately or together, Chuck provides insights on how to make it work effectively. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is joined by Shahar Goldboim to discuss Boom, his AI software and the role that AI can play in managing STRs. Shahar emphasized how AI could reduce costs and improve operational efficiency in managing vacation rentals. They also discussed how using AI could improve overall guest experience. How to connect with Shahar: boomnow.com How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is joined by his good friend and seasoned property manager, Chuck Kramer, to share some real-world experiences and tips on managing parties at your Airbnb. Chuck shares a story about an incident at his beach property where a seemingly normal booking turned into a party with about 70 kids. Despite taking precautions like collecting IDs and being extra vigilant during spring break, the party still happened. Chuck explains what methods he used to monitor the situation and reveals what it took to clear the party out. They discuss the aftermath of the party and emphasize the importance of clear communication with your guests. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

In this episode, the discussion focuses on different types of markets in the vacation rental industry. Luke introduces the concept of a "megamarket" and humorously suggests calling it a "supermarket." The episode highlights the significance of niche markets and explored various market types, including metro markets, national vacation markets, regional vacation markets, and used the Smokey Mountains as a prime example of a megamarket. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is bringing you the Summer Stunner with an all-star cast of characters, Avery, Tim, Chuck and Paige! They cover a range of topics essential for preparing for the bustling summer season and ensuring that are ready to provide exceptional experiences for each guest. This includes insights on current market trends, seasonal pricing strategies, updating properties and listings for the summer and more! How to connect with Luke and Avery: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA How to connect with Luke and Avery: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is talking about bad reviews and how to get them removed! He emphasizes the importance of understanding the platform's policies as well as calling the platforms regularly to give you the best chance at success. Luke also highlights some of the different approaches to getting a review removed, but reminds everyone that a bad review is not the end of the world. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

In this episode, Luke is joined by Allison Bayley, a property manager from Scarborough, Maine. Allison, at just 21 years old, co-founded a property management company with her mother in 2018. Allison shared insights into the unique market of Scarborough, a beach town that thrives for two months in the summer but becomes a "ghost town" during the off-season. They also discussed the strategies her company uses to maximize revenue during the short season, including dynamic pricing and providing a full-service experience to guests. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

On this week's episode, Luke is joined by Paul Waldschmidt, the CEO and founder of OwnerRez. They delved into the origins of OwnerRez, the challenges they faced in the early days, and how they've evolved to become a foundational tool for property managers and owners. They discussed the importance of rental agreements and how OwnerRez facilitates this process seamlessly within their system. Paul also highlighted their insurance partnerships as well as a new jumpstart program, which offers free calls to help new users get up to speed with the software, emphasizing their commitment to customer support and ease of use. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is giving some helpful tips on how to become a better host! He stresses the importance of reaching out to these platforms to gain a thorough understanding of their policies and procedures. By making frequent calls, individuals can acquire valuable insights into platform operations, leading to increased bookings and improved guest communication. Luke also points out that engaging with platforms through phone calls can demonstrate a host's commitment and interest, potentially resulting in enhanced visibility. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

On this week's episode Luke is diving into the common misconception that all you need to run a successful rental is to list it on Airbnb and have a handyman on call. He emphasizes the importance of building a network of reliable individuals who can handle various tasks. He also touches on the future of handymen specialization, why you need to understand your property and more. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

On this week's episode Luke dives into the topic of rental property reviews and emphasizes that while reviews are important, they are not everything. He advises new property owners to work hard, offer great service, and focus on providing an amazing product rather than fixating on reviews. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is joined by Jim Stutzman! Jim is a STRM listener and fellow cornhusker who recently transitioned from having a property manager to self managing his short term rentals. Jim shares his background in being a cattle farmer and how he eventually ended up opening a brewery and owning a few vaction homes. They discuss the process of getting his listings set up on PMS, if he's happier as a self manager and more. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week we are talking all about the pros and cons to being pet friendly! Luke is joined by two Short Term Shop agents, Stacey Lancaster and Derek Tellier. Stacey and Derek both have pet friendly and non pet friendly properties and share their experiences with pets as well as what influenced their decisions to allow them. The group also chats about addressing pets with your cleaners, wear and tear on the properties and pet friendly vs specifically dog friendly. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is joined by Margot Schmorak, CEO and Co-founder of Hostfully. Margot shares the origin story of Hostfully and its focus on supporting smaller scale property managers. They also discuss the evolution of this industry and the consolidation of PMS softwares. Margot shares some exciting news about Hostfully-Palooza, an exclusive online experience crafted to familiarize you with Hostfully's integration partners and the cutting-edge solutions they offer. Check out Host-fully Palooza!: https://www.hostfully.com/integrations-palooza/ How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is joined yet again by Tim Grillot for a little pre-season sizzle. In this episode, Luke and Tim focus on the importance of staying positive and proactive as the high season quickly approaches. They emphasize waiting out the pre season jitters to avoid getting in a race to the bottom, as well as share some helpful tips on how to refresh your listings and prices this time of year. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

In this episode, Luke dives into the art of managing guests in vacation homes and the nuances of property management. He highlights the importance of communication, as well as understanding and sympathizing with your guests' experiences. By being proactive, communicative, and empathetic, you can ensure that your guests have a memorable stay, and you maintain a thriving rental business. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

In this episode, Luke welcomes guest Justin Ford, who has been in the short-term rental industry for 26 years. Justin shares his experience starting a vacation rental company and shares a pivotal moment in his career when a guest was injured in one of his properties, leading him to reevaluate his approach to safety. They highlight the lack of regulations and awareness regarding safety in short-term rentals as well as the importance of fire safety, pool safety and more. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

In this episode, Cashflow Carl discusses the topic of how many guests should be allowed in a vacation rental property. He emphasizes that there is no right or wrong answer to this question and suggests simply picking a number and adjust it later if needed. He shares his experience of being previously pet friendly, and how he knew rather quickly that method did not work for him. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is bringing you another solo episode all about what bank you should be using. He touches on why you need a virtual bank and goes through the different banking options currently available. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke has a solo episode about prioritizing the most important things with your STR properties. He'll touch on refraining from spending too much on crazy amenities, not spending countless hours tweaking your website, why you need to focus on your next down payment and more. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke and Tim are doing a goal setting session for the upcoming year. They discuss the importance of setting realistic goals and address the common mistake of setting unrealistic goals. They mention some of their goals for this year as well as some BHAGs (big hairy audacious goals). How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

In this episode, Luke had pleasure of being joined by two industry rock stars, Dave Meyer and Avery Carl. They delved into a recap of 2023, touched on some 2022 highlights, and speculated on what 2024 might hold for everyone. They also touched on the broader housing market, noting the significant drop in home sales in 2023, which was the lowest in 15 years, and discussed the potential impact of recent drops in interest rates on the real estate sales market. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is joined by Brian Seelos from Hospitable. They chat about what sets Hospitable apart from other property management softwares as well as what exciting new things are coming to the platform. They'll touch on the new ChatGPT integration, chat gpt integration, google vacation rental feature and an improved metrics dashboard. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is breaking down his pyramid of pricing. He'll go through each tier of the pyramid and give his best tips on how to adjust your calendar pricing accordingly. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week the Reverend of Real Estate is preaching about the importance of giving back to real estate as much as you get from it. Luke talks about why you need to stay grateful and humble in the real estate business, and how having a bad attitude will almost always come back to bite you. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is joined by Bobby Herrington to discuss the insane experience he had with the very first guests who stayed in his property in the Smokys. Before jumping into his story, Bobby shares how he got started as an utlra marathon runner. They'll discuss dealing with insurance when your house burns down, how Bobby educated himself during the process and how he was able to get through it all. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is joined by another Luke! Lucas Piper joins STRM to discuss his experience owning Five Star Vacation Home Rentals and managing 25 vacation rental units. They discuss new STR legislation in Austin, Texas, what it's like managing STRs in residential neighborhoods, Luke's 10 year goals for property management and more. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is joined by Kelsey, an agent with the short-term shop, to talk about her experience in short-term rental management. She shares how she and her husband bought a cabin in the Smokies and a property in Crystal Beach. Kelsey discusses the challenges they faced in finding the right property and the bidding process. They also discuss the benefits of setting up personalized real estate searches and negotiating seller contributions. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is joined by a Short Term Shopper, Calvin Hawke! Calvin shares his story of how he ended up in real estate and shares a horror story about the time that his FIRST guest ever had bedbugs! Tune in to see how it worked out for him! How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is joined by Chuck Kramer to discuss the different pillars of a great STR listing. They discuss the importance of crafting your headline, updating your description and more. Tune in to hear a breakdown of each of the 5 pillars. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is joined by Bill Faeth for a laidback conversation about their experiences in short term rentals, cohosting, and more. They talk about some recent challenges Bill has faced when purchasing a new property, the growing struggle for middle ground properties, the success of drive-in vacation markets and more. After leaving UCLA, Bill pursued a career playing professional golf internationally before venturing into entrepreneurship. He successfully established a multi-million dollar glow-in-the-dark golf business, restaurants, real estate development, and as an investor. However, Bill’s interest in real estate investing was piqued when he visited Gulf Shores, AL, to search for a family beach house, prompting a shift in his investment focus from LTR to STR. He started in 2015 with the purchase of his first STR in Gulf Shores for $629,000 and quickly increased rental income by 93% in year one while self-hosting for the first time and implementing off-platform marketing strategies from running over $15M in digital ads. After this success, Bill quickly started growing his STR portfolio and has accumulated luxury single-family homes in five states, generating over $2.5M in annual revenue. He is a founding partner in Rivan Capital Group, a Cohost of 13 luxury properties, and operates four additional businesses. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is joined by Dale Smith, a successful short-term rental management professional in the United Kingdom. With over 900 properties under management, Dale's company, Host and Stay, has experienced rapid growth since its founding in 2018. They discuss Dale's goal of reaching 5,000 properties by 2025. They also talk about management processes and tech stacks for a large company as well as what day to day operations look like when running a company of that size. How to connect with Dale: https://hostandstay.co.uk/who-we-are/ LinkedIn How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week we are coming at you with a little bonus episode where we're going to do some math and figure out what it takes to quit your W2! We'll be using what Luke has coined as the "Freedom Formula". How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

On this week's episode Luke is joined once again by Pavan Mediratta. They discuss the evolution of short-term rental management over the years. They talk about the changes and advancements in technology, such as pricing software, and the importance of caring for guests and providing a memorable vacation experience. They also touch on the topic of saturation and finish off by reading some listener mail! How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is joined by another long time friend and Godfather of 1031 exchange, Dave Foster. Dave shares his story on how he ended up living on and raising his children on a boat for over a decade. They discuss the power of the 1031 exchange, tax advantages of owning multiple properties, how to maximize your retirement strategy asnd more. Dave Foster, a Qualified Intermediary (QI) investment professional, understands that real estate is really an investment in your future. As a multi-industry visionary, he has over 20 years of experience working in all phases of real estate investing. From commercial to residential, he brings his clients a fresh perspective and clear vision for strategic development. As an investor himself, he views each investment as a unique opportunity to maximize returns. A degreed accountant with a Master's in Management, Dave built his reputation on being a driven, results-oriented QI who works relentlessly to optimize value for the real estate investors with whom he works. He is inspired by a genuine desire to help investors excel, and he continuously strives to create win-win situations. Dave's book: Lifetime Tax-Free Wealth: The Real Estate Investor's Guide to The 1031 Exchange How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is joined by a short term rental OG and long time friend, Pavan Mediratta! Luke and Pavan discuss the challenges and misconceptions surrounding Vrbo bookings and share strategies to get more exposure on the platform. They also chat about the history or VRBO, why you need to be listing your properties on multiple platforms, getting kicked off of AirBNB and more! How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week we're talking all about sticker shock. Everything is more expensive these days! We'll discuss how this relates back to our guests, getting our next deal and how to not let sticker shock get you down. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

Today Luke is joined by Chuck Kramer for this season's preparation episode! They're going to give you their best advice for preparinging for Winter, aka the slow season. This includes getting your maintenance people on the books well in advance, knowing what kind of market you're in so you can adjust accordingly, a good rule of thumb for when Christmas should be booked and more. Click here to register for BPCON today! How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is joined by everyone's favorite, Tim Grillot to discuss your rates vs. your quality of guests. They go over how and why you should let people know why you have little/no reviews. They also stress the importance of striking a balance on your pricing and knowing that low rates don't guarantee bad guests, but neither do high rates. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

On this week's episode we are talking all about why you need to get some long terms in order to be better at renting short terms. We'll talk learning the ins and outs of rental real estate, gaining patience, knowing when to get a property manager and more! How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is joined by Steven Gillmer to chat about his shipping containers village! They discuss the startup costs associated with shipping containers, financing options, where most bookings are coming from and more! Steven Gillmer is a proud father of one and a devoted husband of 31 years, with 32 years as an experienced leader whose strength is working through others to open, grow and turn around struggling operations. During his early career with Pizza Hut as an Area Manager, he was responsible for the opening of multiple new restaurants in both new and existing markets as well as turning around stores struggling with negative comparative sales and profit. After a failed restaurant venture in 2007, Steven found himself with zero net worth at the age of 40 and selling used cars. Fortunately, he was able to grow his career from Sales to General Manager, which gave him the ability to start to rebuild his financial life. With his current employer, CarMax, he has continued to take on challenges, growing sales at four locations and developing leaders throughout the organization. Steven began investing in real estate in 2013 while working in Memphis, Tennessee after listening to Rich Dad, Poor Dad on audio book beginning with single family and small multi-family homes. In 2020, Steven partnered with some like minded neighbors and real estateinvestors to develop The Container Retreat (www.thecontainerretreat.com), which is focused on creating unique properties consisting of several container and tiny homes in the Texas Hill Country. The Container Retreat @ 290 Wine Trail is located on 15 acres in Hye, Texas, close to over 50 wineries along the 290 wine trail and consists of ten 20’ container homes and three 40’ container homes. The Container Retreat @ Canyon Lake is in Canyon Lake, Texas on three acres on the banks of Canyon Lake and consists of six buildings with a 40’ tiny home on bottom and 20’ tiny home on top, which can be booked separately ortogether. Along with The Container Retreat, Steven continues to search for other short term rental properties for his personal portfolio. Real Estate Summary -Bought and sold three single family homes and one duplex.-Limited partner in 104-unit apartment complex in Houston, TX,which has gone full cycle.-Limited partner in retail shopping center in Tallahassee, FL.-Managing partner and Asset Manager at The Container Retreat @290 Wine Trail in Hye, TX.-Partner and co-asset manager at The Container Retreat @ CanyonLake. How to connect with Steven: @TexasGillmer thecontainerretreat.com How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzin...

This week Luke is giving us all the advice on determining minimum stays. He'll go over choosing minimum night stay based on property size, bedroom count, and the advantages/disadvantages of minimum night stays. He'll also discuss the importance of keeping up with your listings and adjusting your rates and night gaps based on days of the week. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke and Tim are talking about Tim's latest remodel adventure! Tim has recently moved into the detached garage on one of his properties where he plans to remodel it while he lives there, and eventually turn it into another rental that increase his income up to $40,000/year. They'll talk about how to find good people to help with renovations, rules about having two rentals on one property, and much more! How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke has a quick episode to talk about after hours phone systems! He goes through different options for phone systems, how he implemented different emergency phone systems and examples for scripts you could use. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is bringing you a bonus episode all about the circle of seasonality! Luke will be going over when to prep for slow months, when to prep for holidays, and how to keep your calendars booked! How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke and Tim are doing some math! They'll be discussing how to find your break even number for your own properties as well as finding a sweet spot for occupency rates, choosing your prices based on time of year, providing the best value possible and more. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week Luke is joined by Josh Briner! Luke and Josh discuss the seasonality of the finger lakes, where most tourists are travelling form, building a property management company and more! Josh is the co-owner of Vibe Short Term Rental Management, a company that services the beautiful region of Upstate New York. He and his partner JC own short term rentals throughout Upstate New York and Long Term Rentals throughout the Midwest. Additionally, he is the creator of the Facebook groups, “Upstate New York Airbnb Investors” and “Upstate New York Airbnbs by Owner.” Connect with Josh: https://vibestrmanagement.com/ How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA

This week we're talking about how to properly handle a situation, both in real estate and life. We'll hear about the importance of embracing competition, using the enemy method and we'll also hear all about Luke's most recent jeep saga. How to connect with Luke: The Short Term Shop - https://theshorttermshop.com/ Follow us on Instagram Follow us on TikTok Join the Short Term Shop Facebook group! Check out the Short Term Shop on Youtube For more information on how to get into short term rentals, read Avery Carl's Book, Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties - https://amzn.to/3Adg6PA