Subscribe to the show to have professional hosts Success Secrets sent directly to your inbox. Get a boost of weekly wisdom from each episode without needing to take notes.
Menu
Share this episode with someone who would love it
Today I had the honor of speaking with Erica Muller. Erica has been real estate agent for 18 years, 12 of those years focusing primarily on the sales of VR in the Orlando area.
Erica took her expertise of VR acquisition to create a “pro forma” specifically for analyzing the financial numbers of an investment property. Erica shares this financial tool for free on her technology startup Vrolio which is for VR investors who are looking to buy and sell their next property. Erica has set herself apart in the VR space for her ability to analyze investment properties and work with investors to make those purchases possible.
Even though Erica doesn’t manage any VR properties she shares so much golden information in this episode from an entirely new perspective.
If you haven’t already done so, go on over to our Facebook group Short Term Rental Success Secrets to talk with Erica and other successful hosts.
Check out Erica’s site & contact her at:
Vrolio.com
Talk with other successful hosts and the Host Nation over on our private Facebook group
Join our private Facebook group!
Get insider secrets from professional hosts
Listen to the show on iTunes, Spotify, YouTube or Stitcher
Listen to more amazing hosts Success Stories
Live in DC, Maryland, or Virginia?
Come join our meetup to talk shop, regulations, and optimize listings
Episode #14 Success Secrets
1. Understand your strengths and weaknesses and focus on doubling down on those strengths.
2. When looking to purchase a property for STR, make sure you are able to cover your expenses at half of the expected occupancy.
3. Don’t get too comfortable, you need to plan for the worst case scenario.
4. Don’t invest if you aren’t prepared to lose money
5. Understand that the same system doesn’t work in every market.
6. Don’t try to reinvent the wheel, use a model that other people have found successful and make it your own.
7. Numbers change from house to house, let alone zip codes. Don’t assume any property will profit just because it made the top 100 places to invest list.
8. Follow and repeat what the 20% of owners who generate 80% of business are doing.