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Episode 085 - Make Your STR "CoVID Clean:" Cleaning Advice from Our Favorite Nurse

 
 

SHOW NOTES & LESSONS

When making your property as safe as you possibly can cleaning against the coronavirus, first, remember that there are a couple of potential sources of the virus when cleaning; it could be left in your property by your guest and/or it could be carried into your property from you and your cleaning/maintenance crew.  Therefore, you have to fight it both ways.  Protect your crew FROM it and protect your crew from SPREADING it.

There’s not much you can do about guests bringing the virus in but you can absolutely prevent you and your crew from bringing it in.  The steps we share in this episode have the duel purpose of teaching you how to clean in order to protect your crew from potential contaminations from your guests while, at the same time, keeping the potential virus from someone on your staff from contaminating your property.

 

Please, download or view our Cleaning Checklist here.  This is a step by step guide to...

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Episode 076 - Are You Over-Improving Your STR? Why You Must Know Your ROI

 
 

SHOW NOTES & LESSONS

We are looking at a 2 bedroom/2 bath in Mesa close to everything. 

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!

 

WHAT BOOKS, PRODUCTS, SERVICES, OR LINKS WERE MENTIONED...

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Airdna.co

Recommended Article or Blog Post Related to This Week's Podcast:

What Is After Repair Value (ARV) in Real Estate?  How to Calculate ARV—The Equation and What It Means to Your Profits

 

 

Get This Episode's Show Notes in a pdf form...

 

Go To Our Download Page 

Show Transcript

[00:01] Over the last two...

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Episode 064 - Interview with Napa Valley Chris (Young) on His $6k Airbnb Settlement - Part One

 
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Episode 063 - Seven Things You Can Do to Prevent Parties in Your Short Term Rental

 

SHOW NOTES & LESSONS

Here are Seven Things you can do to prevent parties in your Short Term Rental:

 

  • In your listing and in your House Rules, make it very clear that NO PARTIES ARE ALLOWED EVER. Be so clear as to add that those who break the rules will be responsible for any damages, all repairs, all fines, and fees, including but not limited to all legal fees by you and the owner to recover costs, lawsuits, fines, and fees you incurred.

 

  • Use tools like Noise Aware: a noise detector that measures the sound in decibels without infringing on a guests’ privacy. When the level rises above your set amount, you will be notified by text and email.  You should then notify guests by message THROUGH PLATFORM and by a quick phone call right away.  Document everything.

 

  • Party Squasher (please use our affiliate link below) can be purchased on Amazon for the same price as on their website. This device allows you to monitor the number of devices...
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Episode 062 - Why Now is the Best Time to Think About Retirement

 

SHOW NOTES & LESSONS

 

 

WHAT BOOKS, PRODUCTS, SERVICES, OR LINKS WERE MENTIONED...

Please use our Affiliate Links whenever possible and help support the show.  Thank you!

 

Recommended Article or Blog Post Related to This Week's Podcast:

The 2020 Wealth Building Summit - three full days of premier self-directed IRA education! At the Summit, you’ll hear from investors around the country who are using their self-directed IRAs to build wealth, secure their financial futures, and create a legacy for future generations. Three full days of education, networking, and inspiration!

 

https://www.eventbrite.com/e/2020-wealth-building-summit-cleveland-oh-registration-68835768637

 

https://www.daveramsey.com/blog/teach-your-kids-how-to-save-for-retirement

 

 

 

Recommended Podcast Episode that is paired with this one like a Fine Wine:

Get This Episode's Show Notes in a pdf form...

PICTURE OF PDF

Go To Our Download...

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Episode 059 - Addendums: What to Put in Them & Your Co-Hosting Contracts

 

SHOW NOTES & LESSONS

What Type of Things Go into an Addendum?

 

Title the Addendum to Link it to the Original Contract, Date, and attach to the original.  State effective dates and any additional payments (or state the fact that there are none).

 

Define everyone involved and what roles they play. Make it crystal clear who you are, what you do, and who your guests are and what part they play in your business.  Be clear in and make it understandable to those not in our business.

 

State clearly, in easy to understand language and using examples if possible, what each term is meant to do.  You may wish to restate things in your lease that are remaining the same and things you are adding to or taking away from that changes the original terms of the lease.  Terms usually add to your lease, like the fact that you won't be the main resident, but plan on using it to clarify what each party is responsible for and exactly what they have...

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Episode 056 – You Can’t Fix Noise & Other Things to Avoid (Part Two)

 

SHOW NOTES & LESSONS

What you want to look for when acquiring properties for you STRs or your Portfolio:

Look for a Neighborhood that Looks & Feels Good.

Check it out at all times of the Day and Night.

#1 Thing - as always - Location, Location, Location!

How's the Parking?  At night?  I look for Designated Parking!

What to Avoid:

Noise! - Whether it's being backed-up to a busy street or barking dogs, noise is one of your worst enemies when it comes to renting out a property.

Bathrooms - Optimally, one bathroom for each bedroom.  At the very least, no bathrooms that force you to walk through bedrooms.  No good!  Masters need their own bathrooms, always!

No converted rooms or quirky floorplans.  A house has to have flow & it has to be re-sellable.  You have to be able to sell fast and quirky floorplans and converted rooms JUST DON'T SELL WELL.

Stairs should be wide and clear, and everything should be standard.  Steps' risers...

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Episode 055 – You Can’t Fix Noise & Other Things to Avoid (Part One)

 

SHOW NOTES & LESSONS

What to do when the neighbor's dog won't stop barking...

First, knock on your neighbor's door and try to talk to them.

If they aren't home, leave a note. Give them time to fix it.

Check your HOA or city ordinances. Follow their guidelines, which usually asks you to contact the police or a local authority, make written notices, keep a (video) log, and follow up.

Reminder: Do your due diligence before signing on the line!

That airport didn't just go up overnight and that dog has most likely been there the entire time. Make certain you do your due diligence BEFORE you rent or buy a property. Know your neighbors. Knock on their door. Ask questions like, "is there anything you wish you were aware of before you bought your home? Is there anything you think I should know?

Michelle has an entire list of what type of house not to buy!

We split this episode into two parts because Michelle began going into the Types of Things She Avoids when Purchasing or Renting a...

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