Hosting your available home or property is a great way to earn extra income depending on your level of commitment. However, the operation of starting and maintaining your business takes time and effort. Whether you desire to run your Airbnb business on the side or intend to do it full-time, you will need to dedicate yourself completely in order to do it successfully. Here you will learn what to expect when starting your new business and some tips that will ensure confidence when building a short term rental empire.
As in any new business, there are up-front costs. Depending on the condition of your property and if it’s fully furnished, you might be able to start with minimal cash outlay. Remember that every dollar you spend must be recouped before you can make a profit.
Make sure that you are including all of the little things in your budget such as home appliances, silverware/dishes, television/wifi, towels/sheets, etc. You will have additional and...
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[00:01] Over the last two centuries, nearly 90 percent of the world's millionaires have created their wealth through real estate. Here to tell you how you can ride this wave with less risk and less capital while creating greater income, is your host, best selling author and Speaker, Michelle Russell.
[00:21] Hi, this is Michelle, the Master of Money Mindset, and you are listening to the Short Term Rental Revenue Podcast...
and in today's episode, we're going to be talking...
These are unprecedented times. Whether it’s fact-based or media-driven, people all over the world are in a panic because of the Corona Virus, aka COVID-19.
If you haven’t yet, listen to Michelle’s podcast episode on Corona Virus Tactics to Keep Your STR Afloat. We are in the travel industry, as you well know and understand. Something like this can make or break your business model. Be prepared and be proactive – ahead of the game.
We suggest you implement thorough cleanings each and every time a guest departs and do not deviate from those procedures. Create an SOP, set of Standard Operating Procedures, that ensure the health and safety of your guests at all times.
Go over every surface with the proper sanitizers after a thorough cleaning. Our crew is doing their normal routine, with the addition of wearing and changing gloves while changing all towels and linens, and following it up by...
Have you been hearing about Roth IRAs and would like to know a little more? Are you curious about whether you're investing your money wisely? Maybe you're just tired of investing with the knowledge that you'll pay taxes through the nose when you finally retire someday.
Roth IRAs may be your best bet, if you fall under a certain income bracket. These requirements can change year-to-year, and may also be affected by your age group, so check with your financial advisor about the latest laws.
Consider these benefits:
Roth IRAs are different from Traditional IRAs in that the contributions you put in the IRA are not tax-deductible. But... Roth IRAs do not require you to start taking money out at a certain age, and all...
This show was about scams and being scammed.
You don't have to be dumb to be scammed. You just have to trust the wrong people. We hope you will pass this on - or at least the information on - to those you love and care about.
Remember, they may not tell you they're thinking of attending a real estate event. So, don't wait for them to bring up the subject. You do it! Protect the people you care about.
[00:01] Over the...
Have you ever wondered what makes your most successful friend so successful? What about your least successful friend? What’s their problem? What’s the difference between those that thrive and those that struggle?
There are several differences, and they’re quite obvious if one takes the time to look.
If you understand the differences, you can examine your own situation and gain insight into why you might not be as successful as you’d like to be.
01) Their lives are defined by their goals. Unsuccessful people’s lives are defined by their fears, which often keep them stuck even in uncomfortable situations. Most people live their life in a way that avoids their fears. Successful people learn to recognize fear as placeholders. It defines where you are now, your comfort zone, and anything beyond that is growth and success. They make...
Now, purchase the Airdna Data for your property and let's figure out the ROI for a Short-Term Rental.
Wait... 40% ROI sounds a little too good to be true. What did we miss?
So, the ROI on this property for a Long Term Renter is 22% and a Short Term Renter is 24%. That's a LOT of work for only 2% more on your investment. Figure out if it's worth it!
[00:01] Over the last two...
Success is a skill. Being a great student doesn’t necessarily translate to being a successful adult. So, you’re not off the hook just because your child is doing well in school. The most important things in life aren’t taught in school.
As a parent (or grandparent), you can make up for this oversight and still prepare your child for a successful and fulfilling life.
01) Set goals. Even a child can set goals. A child’s goals might be to get an A on a test, earn a spot on the basketball team, or finish a long book. Learning to set an objective and develop a plan to achieve it are valuable skills for anyone of any age.
02) Work daily toward a purpose. Having a goal and a plan is the easy part. Executing that plan reliably is considerably more challenging. Help your child to put in the time each day to achieve something worthwhile. It might be studying for a...
1. Give because you can: No matter how little you think you have, there is always someone worse off than you.
2. It’s a great way to commemorate love: Whether or not they are still with us in the physical sense, you can commemorate a loved one with a donation.
3. It’s an opportunity to give back: Charity can be given to your old school, your old neighborhood, or organization that at one time in your life gave so generously to you.
4. Charity boosts motivation: It makes them feel better about themselves and often drives them to work even harder so they can give even more.
5. Charity helps you earn respect: Giving “out loud,” as I call it, can not only gain respect, but you will inspire others to give, as...
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Not only does Michelle do weekly podcasts but she and her team write informative articles each month. You may know that Michelle does weekly Q&As and Accountability Calls with her members. But now, she's been allowing some of her trainings and check-in's to spill over into her Insiders.
Beginning in August, she's doing a Monthly "10 in 10 at 10" for her subscribers only. So, you'll be able to check in with Michelle and ask her questions or get some advice LIVE.
Plus, she's doing a Spotlight Member and Hotseats to help you grow your business learning from people just like you with families just like yours. Be around people who can assist you in building and growing what could potentially be the very business that carries you to financial freedom!
Become an Insider Now!