One of the biggest challenges of the ownership model is scaling fast. It requires capital, partners, and contractors to keep things going.
All significant challenges, especially when based in a secondary market.
In January 2018, Rob Scarborough went from real estate flipper to accidental Airbnb short-term rental host. His company, Just Like Home Vacation Rentals, based in the Kansas City Metro market, got its start on the ownership side of things. Rob, who recently completed the Legends X program, has now leveraged the tools he learned in the program to grow his company to beyond what he thought was possible.
On this episode of Get Paid for Your Pad, Rob joins me to walk us through his accidental start in the Airbnb market, the challenges of STR ownership and his 3 tips for flourishing in the ownership model.
Listen in as Rob shares how he’s using his experience to segue into the property management side of the STR industry. Plus, what he and his team learned from Legends X that is helping his company scale more quickly than they ever dreamed.
- Why Rob chose the ownership model for Just Like Home Vacation Rentals
- The biggest advantage of the STR ownership model
- 3 tips for flourishing in the ownership model
- What to keep in mind when setting up your STR business
- Creative ways to find capital for your STR investment properties
- The best way to find the contractors you need in a smaller market
- The top 3 challenges of scaling the ownership model
- The tactic Rob and his partners use to force appreciation
- How Rob’s own vacation persona affects his Airbnb ownership personality
- What the COVID crisis did to solidify their business model
- How Legends X helped Rob and his team grow beyond what they thought was possible