<description> &lt;h2&gt;Today's Guests: James Svetec &amp;amp; Riley Oickle&lt;/h2&gt; &lt;p&gt;&lt;span style="font-weight: 400;"&gt;One of the &lt;/span&gt;&lt;span style="font-weight: 400;"&gt;world's foremost Airbnb experts&lt;/span&gt;&lt;span style="font-weight: 400;"&gt; and the co-author of &lt;/span&gt;&lt;a href="https://www.amazon.com/Airbnb-Dummies-Symon-He/dp/1119626072"&gt;&lt;span style="font-weight: 400;"&gt;Airbnb for Dummies&lt;/span&gt;&lt;/a&gt;&lt;span style="font-weight: 400;"&gt;, James has helped over 1,000 students all over the globe leverage the power of short-term rentals as a vehicle for &lt;/span&gt;cash flow and wealth&lt;span style="font-weight: 400;"&gt;. James is the industry's go-to expert when it comes to mastering performance and streamlining operations. He consults with more than 600 property management companies around the world.&lt;/span&gt;&lt;/p&gt; &lt;p&gt;&lt;span style="font-weight: 400;"&gt;Riley is a Canadian real estate investor and mentor who specializes in &lt;/span&gt;multi-family residential investing through BRRRR and joint venture strategies&lt;span style="font-weight: 400;"&gt;. Throughout the journey of buying his first income property in the Southwestern Ontario area, he realized that there is a real need in the market to help people go through this process more easily. Today, he owns a &lt;/span&gt;&lt;span style="font-weight: 400;"&gt;real estate portfolio worth over $8 million&lt;/span&gt;&lt;span style="font-weight: 400;"&gt; and has helped new investors buy their first properties without wasting time and money on trial and error.&lt;/span&gt;&lt;/p&gt; &lt;p&gt;&lt;br&gt;&lt;br&gt;&lt;/p&gt; &lt;h2&gt;Highlights From The Show:&lt;/h2&gt; &lt;p&gt;&lt;span style="font-weight: 400;"&gt;This is a continuation of the show we posted a couple of weeks ago, discussing the ins and outs of short-term rental investing. We talk about financing, management, software, the science behind listings, and so much more! Make sure you don’t miss another amazing episode of the &lt;/span&gt;&lt;span style="font-weight: 400;"&gt;Just Start Real Estate Podcast&lt;/span&gt;&lt;span style="font-weight: 400;"&gt; with &lt;/span&gt;James Svetec and Riley Oickle &lt;span style="font-weight: 400;"&gt;and learn more about how to build a wildly successful short-term rental company!&lt;/span&gt;&lt;/p&gt; &lt;p&gt;&lt;br&gt;&lt;br&gt;&lt;/p&gt; &lt;h2&gt;Notable Quotes:&lt;/h2&gt; &lt;p&gt;&lt;span style="font-weight: 400;"&gt;“Typically, management costs 20% of your revenue.”&lt;/span&gt;&lt;/p&gt; &lt;ul&gt; &lt;li style="font-weight: 400;"&gt;&lt;span style="font-weight: 400;"&gt;Riley Oickle&lt;/span&gt;&lt;/li&gt; &lt;/ul&gt; &lt;p&gt;&amp;nbsp;&lt;/p&gt; &lt;p&gt;&lt;span style="font-weight: 400;"&gt;“We find that if you have a short-term rental property 1-2 hours outside of a major urban area, it is a great opportunity for people to staycation.”&lt;/span&gt;&lt;/p&gt; &lt;ul&gt; &lt;li style="font-weight: 400;"&gt;&lt;span style="font-weight: 400;"&gt;Riley Oickle&lt;/span&gt;&lt;/li&gt; &lt;/ul&gt; &lt;p&gt;&amp;nbsp;&lt;/p&gt; &lt;p&gt;&lt;span style="font-weight: 400;"&gt;“I would love to have the company motto: I don’t do anything personally, but my company handles everything in-house.”&lt;/span&gt;&lt;/p&gt; &lt;ul&gt; &lt;li style="font-weight: 400;"&gt;&lt;span style="font-weight: 400;"&gt;Mike Simmons&lt;/span&gt;&lt;/li&gt; &lt;/ul&gt; &lt;p&gt;&amp;nbsp;&lt;/p&gt; &lt;p&gt;&lt;span style="font-weight: 400;"&gt;“Almost all issues will come from one-night stays.”&lt;/span&gt;&lt;/p&gt; &lt;ul&gt; &lt;li style="font-weight: 400;"&gt;&lt;span style="font-weight: 400;"&gt;James Svetec&lt;/span&gt;&lt;/li&gt; &lt;/ul&gt; &lt;p&gt;&amp;nbsp;&lt;/p&gt; &lt;p&gt;&lt;span style="font-weight: 400;"&gt;“The check-in process is really important because it is your guest’s first impression of your property, so you want it to be very easy.”&lt;/span&gt;&lt;/p&gt; &lt;ul&gt; &lt;li style="font-weight: 400;"&gt;&lt;span style="font-weight: 400;"&gt;James Svetec&lt;/span&gt;&lt;/li&gt; &lt;/ul&gt; &lt;p&gt;&amp;nbsp;&lt;/p&gt; &lt;p&gt;&lt;span style="font-weight: 400;"&gt;“I am the baby boomer of the group.”&lt;/span&gt;&lt;/p&gt; &lt;ul&gt; &lt;li style="font-weight: 400;"&gt;&lt;span style="font-weight: 400;"&gt;Riley Oickle&lt;/span&gt;&lt;/li&gt; &lt;/ul&gt; &lt;p&gt;&amp;nbsp;&lt;/p&gt; &lt;p&gt;&lt;span style="font-weight: 400;"&gt;“We recommend that people price their STRs manually at the beginning.”&lt;/span&gt;&lt;/p&gt; &lt;ul&gt; &lt;li style="font-weight: 400;"&gt;&lt;span style="font-weight: 400;"&gt;James Svetec&lt;/span&gt;&lt;/li&gt; &lt;/ul&gt; &lt;p&gt;&amp;nbsp;&lt;/p&gt; &lt;h2&gt;&amp;nbsp;&lt;/h2&gt; &lt;h2&gt;Thank You for Listening!&lt;/h2&gt; &lt;ul&gt; &lt;li style="font-weight: 400;"&gt;&lt;span style="font-weight: 400;"&gt;Connect with Mike on&lt;/span&gt; &lt;a href="https://twitter.com/MikeSSimmons"&gt;&lt;span style="font-weight: 400;"&gt;Twitter&lt;/span&gt;&lt;/a&gt;&lt;span style="font-weight: 400;"&gt;, &lt;/span&gt;&lt;a href="https://www.instagram.com/mikessimmons/"&gt;&lt;span style="font-weight: 400;"&gt;Instagram&lt;/span&gt;&lt;/a&gt;&lt;span style="font-weight: 400;"&gt;, &lt;/span&gt;&lt;a href="https://www.youtube.com/channel/UCOpvyr4oBoR01UE2XJSqXfw"&gt;&lt;span style="font-weight: 400;"&gt;YouTube&lt;/span&gt;&lt;/a&gt;&lt;span style="font-weight: 400;"&gt;, &lt;/span&gt;&lt;a href="https://www.linkedin.com/in/mikessimmons/"&gt;&lt;span style="font-weight: 400;"&gt;Linkedin&lt;/span&gt;&lt;/a&gt;&lt;span style="font-weight: 400;"&gt;, &lt;/span&gt;&lt;a href="https://business.facebook.com/JustStartMindset/"&gt;&lt;span style="font-weight: 400;"&gt;Facebook&lt;/span&gt;&lt;/a&gt;&lt;/li&gt; &lt;/ul&gt; &lt;h2&gt;&amp;nbsp;&lt;/h2&gt; &lt;h2&gt;Help Out the Show:&lt;/h2&gt; &lt;ul&gt; &lt;li style="font-weight: 400;"&gt;&lt;span style="font-weight: 400;"&gt;Leave an honest review on &lt;/span&gt;&lt;a href="https://podcasts.apple.com/us/podcast/just-start-real-estate-with-mike-simmons/id732855311"&gt;&lt;span style="font-weight: 400;"&gt;iTunes&lt;/span&gt;&lt;/a&gt;&lt;span style="font-weight: 400;"&gt;. Your ratings and reviews really help, and I read each one.&lt;/span&gt;&lt;/li&gt; &lt;li style="font-weight: 400;"&gt;&lt;span style="font-weight: 400;"&gt;Subscribe on &lt;/span&gt;&lt;a href="https://podcasts.apple.com/us/podcast/just-start-real-estate-with-mike-simmons/id732855311"&gt;&lt;span style="font-weight: 400;"&gt;iTunes&lt;/span&gt;&lt;/a&gt;&lt;span style="font-weight: 400;"&gt;.&lt;/span&gt;&lt;/li&gt; &lt;/ul&gt; &lt;h2&gt;&amp;nbsp;&lt;/h2&gt; &lt;h2&gt;Resources and Links From Today's Show:&lt;/h2&gt; &lt;p&gt;&lt;a href="https://www.minut.com/"&gt;&lt;span style="font-weight: 400;"&gt;Minut Noise Monitoring&lt;/span&gt;&lt;/a&gt;&lt;/p&gt; &lt;p&gt;&lt;a href="https://noiseaware.com/"&gt;&lt;span style="font-weight: 400;"&gt;NoiseAware&lt;/span&gt;&lt;/a&gt;&lt;/p&gt; &lt;p&gt;&lt;a href="https://store.google.com/category/connected_home?hl=en-US"&gt;&lt;span style="font-weight: 400;"&gt;Nest&lt;/span&gt;&lt;/a&gt;&lt;/p&gt; &lt;p&gt;&lt;a href="https://august.com/"&gt;&lt;span style="font-weight: 400;"&gt;August Lock&lt;/span&gt;&lt;/a&gt;&lt;/p&gt; &lt;p&gt;&lt;a href="https://www.hostaway.com/"&gt;&lt;span style="font-weight: 400;"&gt;Hostaway&lt;/span&gt;&lt;/a&gt;&lt;/p&gt; &lt;p&gt;&lt;a href="https://www.hostfully.com/"&gt;&lt;span style="font-weight: 400;"&gt;Hostfully&lt;/span&gt;&lt;/a&gt;&lt;/p&gt; &lt;p&gt;&lt;a href="https://pricelabs.co/signin"&gt;&lt;span style="font-weight: 400;"&gt;PriceLabs&lt;/span&gt;&lt;/a&gt;&lt;/p&gt; &lt;p&gt;&lt;a href="https://www.airdna.co/"&gt;&lt;span style="font-weight: 400;"&gt;AirDNA&lt;/span&gt;&lt;/a&gt;&lt;/p&gt; &lt;p&gt;&lt;a href="https://www.alltherooms.com/"&gt;&lt;span style="font-weight: 400;"&gt;AllTheRooms&lt;/span&gt;&lt;/a&gt;&lt;/p&gt; &lt;p&gt;&lt;a href="https://www.mashvisor.com/"&gt;&lt;span style="font-weight: 400;"&gt;Mashvisor&lt;/span&gt;&lt;/a&gt;&lt;/p&gt; &lt;p&gt;&lt;a href="https://www.netflix.com/title/81175716"&gt;&lt;span style="font-weight: 400;"&gt;Motel Makeovers&lt;/span&gt;&lt;/a&gt;&lt;/p&gt; &lt;p&gt;&lt;a href="https://bnbinnercircle.com/"&gt;&lt;span style="font-weight: 400;"&gt;BNB Inner Circle&lt;/span&gt;&lt;/a&gt;&lt;/p&gt; &lt;p&gt;&lt;a href="https://instagram.com/jamessvetec?igshid=YmMyMTA2M2Y="&gt;&lt;span style="font-weight: 400;"&gt;James on Instagram&lt;/span&gt;&lt;/a&gt;&lt;/p&gt; &lt;p&gt;&lt;a href="https://instagram.com/rileyoickleinvestor?igshid=YmMyMTA2M2Y="&gt;&lt;span style="font-weight: 400;"&gt;Riley on Instagram&lt;/span&gt;&lt;/a&gt;&lt;/p&gt; &lt;p&gt;&amp;nbsp;&lt;/p&gt; &lt;h2&gt;More Resources From Mike:&lt;/h2&gt; &lt;ul&gt; &lt;li style="font-weight: 400;"&gt;&lt;a href="https://mikesimmons.com/"&gt;&lt;span style="font-weight: 400;"&gt;Level Jumping: How I Grew My Business to Over $1 Million in Profits in 12 Months&lt;/span&gt;&lt;/a&gt;&lt;/li&gt; &lt;li style="font-weight: 400;"&gt;&lt;a href="https://app.kajabi.com/admin/podcasts/episodes/2147753214/mikesimmons.com/winningdirectmail"&gt;&lt;span style="font-weight: 400;"&gt;WINNING DIRECT MAIL &lt;/span&gt;&lt;/a&gt;&lt;span style="font-weight: 400;"&gt;- How to CRUSH IT with direct mail!&lt;/span&gt;&lt;/li&gt; &lt;/ul&gt; </description>

Investor Cheat Code Podcast with Mike Simmons

Inspiring interviews with today's most successful real estate investors!

How to Build a Wildly Successful Short-Term Rental Company PART TWO

APR 10, 202352 MIN
Investor Cheat Code Podcast with Mike Simmons

How to Build a Wildly Successful Short-Term Rental Company PART TWO

APR 10, 202352 MIN

Description

Today's Guests: James Svetec & Riley Oickle

One of the world's foremost Airbnb experts and the co-author of Airbnb for Dummies, James has helped over 1,000 students all over the globe leverage the power of short-term rentals as a vehicle for cash flow and wealth. James is the industry's go-to expert when it comes to mastering performance and streamlining operations. He consults with more than 600 property management companies around the world.

Riley is a Canadian real estate investor and mentor who specializes in multi-family residential investing through BRRRR and joint venture strategies. Throughout the journey of buying his first income property in the Southwestern Ontario area, he realized that there is a real need in the market to help people go through this process more easily. Today, he owns a real estate portfolio worth over $8 million and has helped new investors buy their first properties without wasting time and money on trial and error.



Highlights From The Show:

This is a continuation of the show we posted a couple of weeks ago, discussing the ins and outs of short-term rental investing. We talk about financing, management, software, the science behind listings, and so much more! Make sure you don’t miss another amazing episode of the Just Start Real Estate Podcast with James Svetec and Riley Oickle and learn more about how to build a wildly successful short-term rental company!



Notable Quotes:

“Typically, management costs 20% of your revenue.”

  • Riley Oickle

 

“We find that if you have a short-term rental property 1-2 hours outside of a major urban area, it is a great opportunity for people to staycation.”

  • Riley Oickle

 

“I would love to have the company motto: I don’t do anything personally, but my company handles everything in-house.”

  • Mike Simmons

 

“Almost all issues will come from one-night stays.”

  • James Svetec

 

“The check-in process is really important because it is your guest’s first impression of your property, so you want it to be very easy.”

  • James Svetec

 

“I am the baby boomer of the group.”

  • Riley Oickle

 

“We recommend that people price their STRs manually at the beginning.”

  • James Svetec

 

 

Thank You for Listening!

 

Help Out the Show:

  • Leave an honest review on iTunes. Your ratings and reviews really help, and I read each one.
  • Subscribe on iTunes.

 

Resources and Links From Today's Show:

Minut Noise Monitoring

NoiseAware

Nest

August Lock

Hostaway

Hostfully

PriceLabs

AirDNA

AllTheRooms

Mashvisor

Motel Makeovers

BNB Inner Circle

James on Instagram

Riley on Instagram

 

More Resources From Mike: