Part One of our interview with Napa Valley Chris, Christopher Young.
Links to his Facebook Page:
Links to the story of this robbery:
WHAT BOOKS, PRODUCTS, SERVICES, OR LINKS WERE MENTIONED...
Have you heard a lot about people making lots of money through short term rentals on Airbnb?
Do you have a property that you would love to list on a platform like Airbnb but resisting the temptation because you do not have the time to devote to hosting?
Do you think you need to learn more before you begin hosting a property on Airbnb?
Are you unable to devote the necessary time because of health or circumstances?
Are you just not sure if you can handle the challenges of managing your listing on Airbnb?
There is no doubt people are making a great living off of platforms like Airbnb. Some began supplementing their income by just renting out a room in their home but soon learned that there was a much larger opportunity out there than they had even imagined.
However, earning a good income from your listing on Airbnb has not remained easy. There is more competition than ever and hosts are using so many creative and innovative...
When it comes to short term vacation rentals, there may be only one name that comes to your mind and that is Airbnb. There can be no doubt that Airbnb is an excellent hosting platform but it was not the first and many believe it is not the best. It is, however, one of the largest and most used platforms out there, being used by millions of owners around the world to get bookings for their properties. However, there are many other hosting platforms that are equally as good if you decide you want to compare or even list your property on more than one platform to get optimal bookings.
(Listed in alphabetical order, you can click on the links.)
This is a wonderful option for owners who can list their properties for free on this platform. The company charges a booking fee per booking only. This company is believed to book hotel rooms for its customers at unbelievable rates. But it also books homes and apartments for travelers moving across the globe....
Walking the fine line between $$$ & Service
Not Making Enough? Check the Basics:
Think about what your Ideal Guest wants or needs. Why are they there? What things might they want to do? How can you make it better - or special - or add to their experience - or create special
moments that they'll cherish forever? SERVICE!
You can charge for early check-ins or late check-outs when you are able. You can charge to hold luggage. You can charge for upgrades - better quality, like strollers. You can charge for laundry or maid service. You can charge to pre-stock grocery items or breakfast or pretty much anything you can think of.
Send your guest questionnaires before and after stays to help.
What is a virtual assistant? What do they do? Where can I find them?
Michelle has made it super easy to answer these questions and get you started on your journey to freeing up your time.
She's given you a Mini-Course (a Quick Start) on Virtual Assistants. Use the link below to go directly there and claim your seat for Free!
WHAT BOOKS WERE MENTIONED...
WHAT LINKS WERE MENTIONED...
Recommended Podcast Episode that is paired with this one like a Fine Wine:
Get This Episode's Show Notes in a pdf form...
[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...
Bookkeeping is an integral part of a vacation rental business. This is because the government recognizes it as a business activity and levies income tax over the income earned by the owner. Companies like Airbnb, Booking.com, VRBO, and others have become very popular and more and more owners are using these platforms to earn attractive incomes from their properties. Here are some useful tips to save your hard-earned money from being charged as tax by the government.
You are not required to pay any tax on your income if it has been rented out for no more than 14 days in a given year. For this rule to apply, you must have lived in the same property for at least 14 days. However, be careful that you do not rent out your home for more than 14 days as otherwise, your income attracts income tax.
You cannot rent out one room in your property and hope to get exemption just because you continued to live in...
This is a traveling week for Michelle and it's also our first "Best of" Episode!
Listen and somewhere in the middle of this podcast, you'll hear Michelle give you a secret word to collect a special FREE GIFT on next week's all-new episode. Thanks for being a loyal listener. God Bless You! Go and grow!
01) Emergency Contact Card (Contact Information Sent by Email, Text, and Posted Clearly)
02) Fire Extinguisher (Right by the Stove)
03) First Aid Kit
04) Smoke Detector
05) Carbon Monoxide Detector
06) Super-Fast Wifi (Password Sent by Email, Text, and Posted Clearly)
07) Comfortable Mattress (Consumer Reports #2 Rated is only about $500-$700)
08) Smart Television (Plus Cable, if High End)
09) Bluetooth Speakers
10) Charging Stations
11) Smart Locks for Easy Entry (For You as much as Guests)
12) Climate Control Directions (Keep Your Guests Comfy)
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...
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...
When you subscribe to our Newsletter, we appreciate the honor. Yeah, we know you can cancel anytime but you're still trusting us to add value to your business and we take that to heart!
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!