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

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

Author: Inspiring interviews with today's most successful real estate investors! April 10, 2023 Duration: 52:40

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!

 

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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:


Mike Simmons hosts Investor Cheat Code Podcast, a series built on the idea that the most effective strategies are often the personal ones not found in any textbook. The concept is simple: in video games, a cheat code is a hidden key that unlocks advantages, and this podcast applies that same principle to building wealth through property. You’ll hear inspiring interviews that go beyond surface-level advice, diving into the specific routines, mental frameworks, and sometimes counterintuitive tactics that today's most successful real estate investors actually use in their daily operations. Each conversation is designed to uncover those nuanced habits-the real cheat codes-that have led to tangible results for top performers. Rather than offering generic tips, this podcast focuses on the actionable and often overlooked details that can accelerate your journey. It’s for anyone interested in the practical realities of investing, entrepreneurship, and business growth, delivered through candid discussions that feel like you're getting direct access to a mentor's playbook. Tune in to discover how subtle shifts in strategy and mindset can unlock new levels of opportunity in your own portfolio.
Author: Language: English Episodes: 100

Investor Cheat Code Podcast with Mike Simmons
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