August 19, 2021
ultimate_guide_providing_broadband_internet_in_your_airbnb_property

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
gpfyp_blogpost_from_hectic_host_to_millionaire_manager

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 […]

As Airbnb entrepreneurs who help people start and scale their own short-term rental companies, you may be surprised to hear that, right now, we don’t necessarily think you should start a STR business.

We think you should buy one.

Yes, there is value in creating your own Airbnb hosting business. And if you’re brand new to the industry, that’s a good place to start.

But if you’re an experienced host with access to funding, you can create wealth by taking over someone else’s business and increasing its value. What does that process look like?

On this episode of Get Paid for Your Pad, Eric and I sit down to discuss the opportunities we see in buying an existing Airbnb business rather than starting one from scratch.

We explain the process we used to take over an STR company in California, describing how to raise money from investors and what they’re looking for in a business or property.

Listen in for insight on where to find vacation rental businesses to buy and learn how YOU can acquire and increase the profits of existing Airbnbs!

Topics Covered

Why we’re taking over an existing Airbnb business

  • Save money on operations to increase profits
  • Improve guest experience, property value

Eric’s insight on raising money through investors

  • All based on NETWORK
  • Invest in PEOPLE and IDEAS

What investors are looking for in a brand or property

  • Rule of 7 (7% return doubles $ every 10 years)
  • Strong relationship makes risk manageable

Eric’s advice to someone who doesn’t have a network

  • Focus on one social platform, e.g.: LinkedIn
  • Surround self with people in industry
  • Be patient in process

Opportunity we see in the STR market right now

  • Use management model to generate cashflow
  • Scale quickly and bring investors into pipeline
  • Buy older STR businesses in secondary markets

How to find existing vacation rental businesses

  • Choose market carefully
  • Become part of community (network)
  • Share your vision, ask for properties

Resources

Rich Dad Poor Dad by Robert T. Kiyosaki

The Psychology of Money by Morgan Housel

Sonder

Zillow

Vrolio

AirDNA

Vacasa

Hicksville Trailer Palace

Overnight Success

Review Get Paid for Your Pad on Apple Podcasts

Legends X Short-Term Rental Accelerator

STR Legends Mastermind

Email jasper@getpaidforyourpad.com

Sponsor

Hostfully [Discount Code PAD]

October 22, 2021

Don’t Start an Airbnb Business, Buy One (Ep417)

  As Airbnb entrepreneurs who help people start and scale their own short-term rental companies, you may be surprised to hear that, right now, we don’t necessarily […]
June 15, 2020

How to Invest and Run Multiple STR Units in Different Markets (Ep. 339)

Is it too much trouble to manage multiple short-term rentals (STRs) in different markets? If you have the opportunity to invest in Airbnb properties, but you […]