Mark Simpson discusses why new serviced accommodation operators underearn and shares how formal training helped him build a portfolio of over 60 properties, with his best returns coming from Swansea and Plymouth.
Questions this video answers
In excess of 60 SAs in total.
Swansea and Plymouth.
Chapters
What are the common mistakes that you see a lot of your delegates or mentees make when they first get into essay? And particularly, let's try and focus this question around reaching out and getting new bookings.
People do not make as much money as they could make.
What was the one bit of advice that you wish that you had received from your peers when you were getting started into this essay world with anything?
Go and get training. It's not simply a case of getting a property and just whacking it onto Airbnb. There's an awful lot more to it than that. Getting the right training and potentially having a mentor as well has always been fundamental to my success and I notice it in the success of others as well.
Have you got any success stories from your properties? We haven't really unraveled about how many properties properties that you have in the SA world and whatnot, but have you got any success stories from doing this method that you can think of that's on the top of your head that you'd like to share with us about how you did that and what were the benefits on the back of it?
Well, in terms of getting direct bookings, yeah, We've got properties scattered all over the country now. SA properties. So our main personal gold mine areas are Swansea and Plymouth in terms of sa, but with SA management, with jv, with. With people all over the country now. So it's in excess of 60 SAs in total. That doesn't include our other properties in the portfolio.
You've grown from having a handful of properties to now having a lot of properties and you've done joint venture with SA management companies. How much actual day to day running would you say that you have right now within your SA business?