Episode 032 – Prostitutes and Drug Dealers and Bachelor Parties! Oh, my!
SHOW NOTES & LESSONS
First, a lesson on Capitalism. What is Compassionate Capitalism?
A wonderful book by Rich DeVos that describes how True Capitalism promotes growth through competition.
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First, Capitalism allows competition by allowing anyone to own a business.
Second, products and service determine whether or not a business...
How NOT to Let Human Traffickers Rent Your STR Property
FACT: THERE ARE MORE SLAVES IN THE WORLD TODAY THAN EVER BEFORE
Slavery is alive, well, and thriving in the world today. It is thriving in the world of Human Trafficking and your Short Term Rental may be a target for the criminals of the third largest and extremely profitable of all Illegal Industries, Human Trafficking. Every 30 seconds, someone's child is taken and becomes a part of this dark and unspoken world.
The three most profitable crime industries are:
#1 - Drugs
#2 - Weapons
#3 - Human Trafficking
Why would a Human Trafficker be interested in my Short Term Rental property?
It is becoming a world of surveillance and in the crime industries, that's not a good thing. Cameras in hotels and motels are more and more common for security purposes but this makes it difficult for pop-up brothels to run their businesses across the US and the world.
Tens of thousands (that's no exaggeration and possibly an underestimation) of...
Episode 026 - Real Life Horror Stories and How to Avoid Them
WHAT WERE THE LESSONS?
Here are the stories and the takeaways...
Story One: Having your STR guests steal your furniture and electronics from you. Yikes! Imagine walking in and finding your place empty. How long before your unit is up and running again?
Takeaway: Only accept Guests with Government IDs and Good Reviews. Even then, there's always a chance this can happen, so make sure you have umbrella coverage to fill the gaps from Airbnb and Business Income Insurance to cover your lost revenue.
Story Two: You move into a place with really scary neighbors.
Takeaway: Real Estate Investors often talk to the neighbors before buying a property - at least two. You want to know what they know about the property AND the neighborhood. They'll tell you things that the Seller and the Agent won't.
Story Three: Troubled Young Man gets stoned and poops on your bed... gross!
Takeaway: Run a background check and take extra security measures for anyone staying in your home. It's not...
