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Business PlansLeveraging Data for Short-Term Rental Success with Dr. Rachel Gainsbrugh
In this episode of the STR Data Lab, host Jamie Lane sits down with Dr. Rachel Gainsbrugh, CEO of Short Term Gems, to explore insights into short-term rental data and trends. Rachel shares her journey from being a pharmacist to becoming a thriving short-term rental operator. She recounts how the Bigger Pockets community and Warren Buffett’s advice to "make money while you sleep" sparked her interest in real estate investment.
Rachel highlights the critical factors like debt-to-income ratio and lending products that influence portfolio construction. She emphasizes the importance of communication, convenience, and connection in maintaining luxury and customer satisfaction in short-term rentals.
Jamie and Rachel explore the significance of automated communication and leveraging midterm rental markets, particularly insurance policyholders and media crews. Rachel offers tips on how to make properties more attractive for midterm guests by focusing on quality amenities and being pet-friendly.
Rachel stresses using tools like AirDNA to make informed decisions and encourages listeners to take proactive steps in their own real estate journeys. The episode concludes with Rachel advocating for the powerful impact of short-term rental investments, sharing resources for aspiring investors. Dr. Rachel’s story is an affirmation that with informed strategy and a passion for serving guests, anyone can create a successful and meaningful short-term rental business.
You don’t want to miss this episode!
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www.instagram.com/short.term.gems
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Signup for AirDNA for FREE👇
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Connect with Jamie on LinkedIn and Twitter:
LinkedIn: https://www.linkedin.com/in/jamiehlane/
Twitter: https://twitter.com/Jamie_Lane
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Connect with Scott on LinkedIn:
LinkedIn: https://www.linkedin.com/in/sagescott
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Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram:
LinkedIn: https://www.linkedin.com/company/airdna/
Twitter: https://twitter.com/airdna
TikTok: https://www.tiktok.com/@airdna.co
Instagram: https://instagram.com/airdna.co
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Find AirDNA at these upcoming events!
Up Next:
Scaling Success in Short-Term Rentals with Mike Sjogren
In this episode of the STR Data Lab, Jamie sits down with Mike Sjogren, CEO of STR Secrets. Mike shares his journey from being a CPA with a stable job to building a successful short-term rental business after his son was diagnosed with a rare lung disease. He explains how he transitioned from owning one rental property to managing 82 properties across three states.
Mike delves into the importance of co-hosting, comparing it to rental arbitrage, and highlights the benefits of co-hosting in terms of scalability and reduced risk. He stresses the significance of having clear goals, suitable property selection, and efficient revenue management. Mike also discusses how his STR Secrets coaching program helps individuals build their rental portfolios and achieve financial independence.
The conversation covers practical strategies for acquiring properties, optimizing listings, and maintaining high guest satisfaction. Mike emphasizes the need for well-defined standard operating procedures (SOPs) and the importance of surrounding oneself with capable team members. He also sheds light on the changing dynamics of the short-term rental market, particularly post-COVID, and how co-hosting can be a viable path for newcomers and experienced hosts alike.
Towards the end, Mike shares his vision to help a million people achieve financial independence through short-term rentals and discusses the personalized support provided by STR Secrets. Jamie and Mike conclude with advice on staying focused on one's goals and filtering out distractions.
You don’t want to miss this episode!
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Mike’s Facebook Community - https://www.facebook.com/groups/STRentalsecrets
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Signup for AirDNA for FREE👇
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Connect with Jamie on LinkedIn and Twitter:
LinkedIn: https://www.linkedin.com/in/jamiehlane/
Twitter: https://twitter.com/Jamie_Lane
~~~~
Connect with Scott on LinkedIn:
LinkedIn: https://www.linkedin.com/in/sagescott
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Connect with AirDNA on LinkedIn, Twitter, TikTok, and Instagram:
LinkedIn: https://www.linkedin.com/company/airdna/
Twitter: https://twitter.com/airdna
TikTok: https://www.tiktok.com/@airdna.co
Instagram: https://instagram.com/airdna.co
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Find AirDNA at these upcoming events!