August 19, 2021
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Ultimate Guide to Providing Broadband Internet in Your Airbnb Property

Airbnb has been a revolution for the hospitality industry. With regular homeowners able to list properties for temporary lets, the platform has been a boom with modern […]
August 4, 2021
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From Hectic Host to Millionaire Manager

Airbnb hosts pay attention...there's a brand new online event coming up called From Hectic Host to Millionaire Manager. This FREE event will take place on Thursday August […]
February 3, 2021

Work in Paradise: Airbnb Trends Towards Remote Workers in 2021

It's no secret that remote work has increased dramatically this year. This has caused one of the biggest Airbnb trends of the year – catering to […]
January 27, 2021

How To Setup Your Digital Airbnb Guidebook In 2021

Guests have more questions now than ever.  If you've traveled recently, you've probably had a few questions yourself. You're wondering if the Google hours at the […]
January 20, 2021

9 Lessons To Help You Grow Your Airbnb Business in 2021

2020 was a roller coaster ride for short-term rental hosts. So, what did Airbnb hosts that stuck it out learn in 2020? And how can we […]
January 6, 2021

Prevent House Parties at Your Airbnb: Tips for 2021

With all the social restrictions in place right now, people are itching for ways to let go.   If you’re an Airbnb host, a house full […]
December 30, 2020

How to Make Your Airbnb Pet Friendly and Increase Revenue up to 25%

Have you considered making your Airbnb pet friendly? Many people are traveling closer to home with new restrictions. This means they are bringing the whole family, […]
December 22, 2020

Airbnb Demand Drivers Every Host Should Know in 2021

Keep the same price on your short-term rental every day? Knowing these 3 Airbnb Demand Drivers could increase your revenue by 40% or more. Seriously.  Back […]
December 16, 2020

Cohosting on Airbnb: Lessons From a Legend

A lot of people ask me about how to get started cohosting on Airbnb.   So, on this week’s episode of Get Paid For Your Pad, […]
December 10, 2020

Investing in Short Term Rentals : Lessons From a Legend

I’ve been getting a ton of questions from you guys about investing in short term rentals,  and how to start growing your business.  So,  this month […]
November 15, 2020

7 Profitable Ways To Grow Your Direct Booking Website

Author: Keiran Griffiths | CMO Lifty Life Vacation Rentals Many short term rental operators are looking to improve their online visibility, rely less on the large […]
August 31, 2020

The New Traveler Persona: How to Stay Relevant to Your Target Market in 2020

The past few months mark an inflection point for the short-term rental industry. The world has changed, and so have traveler behaviors and expectations. There’s a new […]


Many STR hosts have dreams of turning their Airbnb business into a real estate investing company. But what does it look like to buy a property for short-term rental? How, exactly, does the process work?

Eric and I are currently in negotiations to buy an existing short-term rental business, including its four Airbnb properties and the land they’re on. And we’re learning a lot along the way.

On this episode of Get Paid for Your Pad, Eric and I sit down to share what we’re learning from buying this Airbnb property, explaining why it’s crucial to start with a vision of what you want to build and be patient through the process.

We walk you through our plan to improve the guest experience and increase revenue at the STR community we’re buying, eventually refinancing the property to build personal wealth and expand our portfolio.

Listen in for insight around the top three reasons to build a STR hospitality brand and learn how you can turn your Airbnb hosting business into a short-term rental investment company.

Topics Covered

Why it’s crucial to manage your emotions when you buy real estate

  • Buy on numbers, overpay when attached to outcome
  • Must be willing to let go (‘this or something better’)

How to recognize if the STR brand you’re buying is a good deal

  • Value in opportunity to upgrade guest experience
  • Increase revenue right away with technology, systems

Our plan to increase revenue at the STR community we’re buying

  • Improve experience, raise prices by 30% to 50%
  • Costs stay fixed = profit doubles
  • Increase number of units from 4 to 14 income streams

The beauty of investing in real estate for short-term rentals

  • Increase value of property to refinance in future
  • Return cash to investors, pay selves and buy more STRs

How Airbnb hosts can become STR real estate investors

  • Use other people’s properties to build hospitality brand
  • Leverage profits to invest in real estate for STRs

Our top lessons learned from buying our next Airbnb property

  • Develop clear vision of what you want to build
  • Be patient through process vs. saying YES to everything

The top 3 reasons to build an Airbnb hospitality brand

  1. Lifestyle business
  2. Scale to sell
  3. Generational company (wealth to pass on)

Resources

Get Paid for Your Pad on YouTube

Legends X Short-Term Rental Accelerator

Eric on Instagram

Eric on TikTok

STR Legends Mastermind

Hicksville Trailer Palace

Patrick at EXSTR Apartments

Get Paid for Your Pad

Email jasper@getpaidforyourpad.com

Sponsor

Hostfully [Discount Code PAD]

August 27, 2021

What we’re learning from buying our next Airbnb property (Ep402)

 Many STR hosts have dreams of turning their Airbnb business into a real estate investing company. But what does it look like to buy a property […]
July 19, 2021

Airbnb Host Leverages Peloton Bike to Increase Revenue by 15% – with Aaron Aaron Hanauer (Ep392)

During the pandemic, smart Airbnb hosts focused on making it easy for guests to work from home. But Aaron Hanower took it a step further and […]
June 28, 2021
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How Sergio Quit His Job to Go All-In on Airbnb (Ep389)

So, you don’t quite make enough money to support yourself as a short-term rental host. But you know you need to spend more time on the […]