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Would you love to take your passions such as travel, tiny living, air stream homes, and turn it into a profitable short term rental business?
In this success story, I speak with Chad Miller, who prior to becoming a full-time Airbnb host, sold satellite televisions to rural homeowners. Chad, looking to scale down and take on tiny living, decided to renovate an airstream.
Chad and his wife, Katy, after purchasing a home, began renting out their air stream and found that they were able to pay for the mortgage. Chad has since scaled his business to not only own 7 nontraditional short term rentals, but own 3 apartments, rental arbitrage 7 apartments, and cohost an additional 7.
Contact Chad:
https://www.streamlinevacationproperties.com/
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Episode #05 Show Notes
1 Don’t be afraid to be different with your STR business. Look for opportunities that would set yourself apart.
2 There is not ONE PERFECT MODEL that is the best for building a STR business.
3 If the numbers make sense and the risk is reasonable, then it may be worth investing.
4 Be willing to walk away on deals and don’t invest emotionally into something.
5 Cut out the businesses that are taking up all of your time and not producing the results you want.
6 When starting out and the opportunity for a reasonable deal arise, take it and learn from it.
7 Set reasonable expectations with photos and listing.
8 It’s okay to invest slowly if it means getting the right properties with minimal headache.