FB live 11.26.24

Hey everyone, this is Shawna from She's Got Assets. I'm just going live, so I'm hoping that everything is gonna work. So just give me a few minutes here so that we're okay. If anyone is there, let's see. I'm just gonna go live everywhere else. We're gonna go live on Facebook. We're a little bit later this evening than normal, so Hopefully everyone is with us. Okay, I think we're live on Facebook and YouTube. Yay, that's exciting. Okay, I'm just gonna check Facebook really fast. For anyone that's tuned in, awesome, thank you for joining me and taking the time tonight. I super appreciate it. Just give me one second here while I just make sure that everyone knows where we're at. It's a dark and stormy night here in Oregon. I'm actually on the Oregon coast, so Yeah, I'm doing this remotely, so I'm hoping that the internet holds up. All right, awesome. You guys know the drill. If you're live, let me know where you're calling in from and maybe let me know what your Thanksgiving plans are. That would be awesome. I personally am on the Oregon coast. I'm in South Beach, and so I'm in this like really adorable little A-frame cabin. It's really charming, and my kids are upstairs, so you might hear them in the background. So, and I'm on internet that I haven't used before, so fingers crossed everything goes smoothly. Again, let me know where you're calling in from, maybe what you're looking forward to for Thanksgiving, something like that. It's always nice to know who's out there, who's listening, tuning in. Again, I really appreciate you guys taking the time. You can't hear me or anything like that, please let me know because I can't hear myself. Stuff is super helpful. So we're gonna get started in a minute. I have a presentation I'm gonna share. So, and as we go, like, hey, please feel free to post questions. I'm gonna talk about the Black Friday special I have that's really awesome if anyone wants to join. So let me just get my screen. I also don't have my second monitor, so I feel a little bit like I don't have all my tools in front of me, if anyone can relate to that. Out of the office. Okay, I had this all set up and then you know how it goes. Okay, I'm just gonna get Canva up really fast and then we'll— I will share my screen and we'll get into it. Thanks again for tuning in, taking the time out of your day, super appreciate it. I love questions, I love interaction, super helpful, so just please let me know. Okay, I am going to present and I'll try and check the questions as you go along. Please feel free to post, that is really helpful to see what you guys are looking to have questions about, wanna learn about. We're gonna present. I'm gonna share my screen. Okay, oh my gosh, hope this works. Okay, I think it's working. Okay, I'm gonna go into presentation mode really fast and we're gonna dive into it. Um, here, present. Someday there'll be less clicks, I swear. Okay, almost there. Okay, I think if— I know if anyone can't see me or hear me, like please let me know. That is really helpful. I'm just going to check the comments really quickly because I don't want to be talking to myself. Um, again, like, yeah, if you can see me and hear me, let me know. Let me know where you're calling in from. Again, I'm calling in kind of remotely, so, um, hey Janet, thanks for tuning in, awesome. Hey Thalia, thank you. Hey, hey Heather from Iowa, awesome. Hey Anne, like, awesome. You guys are Awesome. Thanks for tuning in. Familiar faces. Awesome. Okay. Well, thank you for taking the time out. I know it's a holiday week, so I didn't know how many people would be coming on, but if you're watching the replay, post questions. And again, thank you guys for tuning in live. I like super appreciate it. So with that all being said, um, we're going to dive in. So this is kind of a masterclass on how to set up and fully book your first— or maybe you have a midterm rental with great guests— to 2x or more your cash flow. It is a free training for real estate investors. So I think most of you know me, so I'll try and breeze through this. But just in case there's anyone new here, we get a lot of new people in the group. I'm gonna give a little bit of background on myself. So I'm Shona, I'm the founder of Choose Spot Assets. Just a little bit about myself, like kind of my background. I'm from California. We growing up, my parents were hippies and we lived in like a very small town, very crunchy. We had vaca— they had a vacation rental business. So I grew up like making beds and changing sheets. This was like pre-Airbnb. Everything was like answering machines, paper calendars. So it was kind of in my blood. Um, and I never really thought I'd get into real estate because it was a very expensive market. It was like a destination town, little town called Mendocino. So if anyone's heard of it, it's quite charming but expensive. And then way back in 2005, I found my way up to Portland. I came to visit friends literally on a road trip and just decided to buy a house kind of on a whim. Because that just felt like the right thing to do. And I knew that I needed help with the mortgage, so I had a roommate or I house hacked it. So I've really been a landlord for a long time, really since 2005. I got my first investment property in 2006. And, you know, in hindsight, I wish I would have known what I know now. Like, the prices were so much different, right? So anyway, I always like to say that I used to be really private about being a landlord because I think I thought I would be judged. And housing is a really sensitive issue, and I totally understand that. Now I really just pride myself in providing quality properties, being a really good landlord, fixing things, and just, you know, again, being a good landlord and providing comfortable, stylish housing for people to live in, right? Long-term and more midterm. So, um, and then, you know, before I was a full-time investor, I'm kind of a creative at heart, which is why I think I like design and marketing. Um, I had a boutique design studio way back in the day. This was way back when I hand-coded websites. I did like marketing and branding. And then I co-founded an agency with my husband. This is us, our little scrappy team back in the day. So I'm kind of been a serial entrepreneur, if you can't tell. I'm the founder of She's Got Assets. So I have the community and I have a couple of courses and the podcast host— host— I can't talk. And then I have Cedar and Porch Properties where I rent long-term and midterm properties. And then I buy fixers and do flips under Shannon Buys Houses. I'm from Portland, Oregon. I know a lot of you guys calling in are local. Yeah, so that's kind of a little bit about me. Also just want to call out, I do have a ton of— I try and give a lot of resources of value. I have a ton of free content as well as courses, but I have a YouTube channel. So if you haven't subscribed, you can do that. It's at She's Got Assets. I'm streaming there now and I have all the— just a lot of free content and resources and whatnot. And then I also have a podcast, so make sure to check that out. I have really fun guests on, like I had Sarah Weaver on from BiggerPockets. She wrote the book 30-Day Stays. Um, I had the co-founder of PriceLabs on, so just some really fun guests. I like to really unpack, unpack things and have interesting conversations with investors. So if you haven't checked those out, be sure to do that. Um, and then I do have some courses. Um, so I'm going to talk about this a little more later on, but I am offering a Black Friday special. It's a super good deal. Um, to save like $500 if you sign up. So I'll kind of get into that later, but just a little teaser here in case you can't hang on, want to jump on that. Um, you can scan that QR code to join. All right, so this training is for real estate investors who want to maximize their cash flow without the constant turnover of short-term rentals. Um, I don't know if anyone has short-term rentals. I had them and it was just kind of a headache. And to me, I just think midterm is really the sweet spot. So ultimately we want more passive or I like the word evergreen cash flow, right? That's why we're in this business for the most part. So you really want investment that gives you 2x more cash than when you get with long-term rentals or more in a lot of cases, right? You want a step-by-step guide to quickly set up your midterm rental and save time and just be efficient and know how to do it and have systems in place. You want a done-for-you list of all the furnishings you need from what mattress to smart tech. I cover that really in depth. And it can be quite overwhelming when you're just setting up a rental and you haven't done it before. So if it's not for you, if you don't like free content or a free offer, right? There is a bonus at the end. If you sign up, you get the top 10 amenities to attract great guests that I've just found over the years. So I think as we're getting into real estate, when we're more seasoned, you know, but when we're starting out, sometimes we, you know, we're kind of this worried Susan, right? We have analysis paralysis. We're unsure of what property would make a good term rental, midterm rental. We don't know where to start furnishing. There's just so many choices. How nice should it be? How fancy? Do we need a hot tub? No, you don't. I don't, by the way. You know, where do you advertise to find good guests? There's so many sites. Should we allow pets? And yes, you should, right? That's super important. I think we just get a little hung up on that and we don't know, and it takes us a long time to get stuff done, right? Versus someone like this example here, Joanna, she has her first midterm rental fully booked before she's even furnished it. So that's a strategy I teach in the course. It totally works. I've done it multiple times. You actually get your property booked before it's even furnished, which I love. It's making awesome cash flow. Who doesn't want $2K cash flow, right, on a single-family home? That's really unheard of. I'm typically, you know, versus like a long-term rental. She's relaxed. You have more free time with only a couple turnovers a year. It's really awesome. Sometimes maybe even only 2 depending on what kind of leases you get. And you can confidently self-manage with the solid system to run your midterm rentals profitably. Um, it's going to make sure everyone's still here because I've got a different screen open. If this is resonating, like, let me know, um, so I can make sure you're still there. So again, I'm doing this remote from a little A-frame cottage on the coast. So, okay, I don't see any questions. I'm assuming everything is good, but please let me know. So let me know in the chat, like, what's more appealing, you know, option 1 or option 2. I'd love to know kind of where you're at in your journey. It's super helpful if you guys want to put that in the chat. I'll just wait a second. Anyone wants to chime in? I know you guys are out there. Let me know. All right, well, when you have a chance, let me know. If you're watching the replay, let me know. All right, so, so I was just, you know, tired of the constant turnover of Airbnbs. I had, you know, I had a couple short-term rentals and I really wanted to maximize my cash flow without the stress. I was always worrying about the last guest review, right? With short-term, you really— you are not— that you shouldn't have amazing hospitality and service, but you are really So dependent on that last review can really make or break you. And sometimes you get bad reviews for nothing, for no nothing that you could have avoided, right? So in midterms, you reviews like they're important, but they're by no means you can get bookings on a place without any reviews. That happens all the time. So, so then that's how the MTR Playbook was born, which is my coaching course for midterm rentals. And so it's a solution I created to maximize cash flow, you know, 2x or more over long-term rentals without all the stress of constant turnovers. There is kind of just a hybrid strategy too that I teach in the course. If you are in a place that does allow short-term, you can fill in your gaps with short-term reservations, which is awesome. It's a little bit more turnover, but it's a great way to maximize your property. So I have more time, I'm maximizing my cash flow, and I'm just not having that constant turnover, right? It just, it is just a constant thing. Even if you have cleaners, you're always navigating check-ins, that they get in okay. Do they have questions, right? So I just love the mid-term model. All right, so we're kind of, you know, focusing on the mid-term model here. We're gonna break it all down for you, how to avoid all the setup mistakes, and then kind of go over some tips and tricks. Any questions so far? I'm just gonna check. Melanie says MTR and STR. Yeah, if you're in that market, I think it's awesome. And there's definitely ways to like optimize to get the juicy MTR bookings and then fill in your gaps with STR, or maybe it's somewhat seasonal. So I think that's a great strategy. Monica says to you, option 2. Yes, totally, guys, I'm with you guys. No turnovers, or very much way fewer. Okay, awesome, thanks for that feedback. Um, all right, so we're gonna break it down. So I— if anyone's like followed me for a while, I know I sound like a broken record. I'm sorry, but like, this is— marketing is super, super important. You know, there's a lot of things involved, but I think there's this idea that people are gonna come no matter how we market our property, and one of those things is not having good photos. I know it sounds really obvious, but I see this all the time. I look at listings and the photos are just really, really bad and you need to stop the scroll, right? People are booking really based on the photos, a lot of it. So we think we have these smartphones, we can just take pictures and they'll be fine. Well, they're really not. They're nothing like a professional photographer and you really have a split second to stop the scroll. And I think the photos really represent what a guest can expect if they're staying with you. So it's, super, super important and just make the investment. I can't stress it enough. Like some of you have maybe seen this slide. These are actual pictures. I hope no one's on this call, but like a bathroom, like clearly this is, this, this makes me feel like the house is not clean. It's, it's just the toilet seat is up. They didn't flush. They didn't put any effort into like making it look nice even for the photos. So what is my experience going to be like when I check in, right? Are there going to be clean linens? I just, it makes me really question this, right? I can't imagine this place getting booked. Something funky on the TV here, the photo's going the wrong way, bad lighting, right? This just does not look appealing. And they're clearly not super well-designed properties, but the photos would make it look a lot better, right? So just get started on the right foot. So I don't know if you guys would want to stay here. I certainly wouldn't. I can't even believe these are actually listing photos, but they are. You know, or would you rather stay here, right? This is nice and light and airy. These are actually photographs that an Airbnb photographer took. So we got like the Superhost status at one point, and then like the— there was like a Plus listing they had for a while. And then according to Airbnb, like, it's not surprising, photos are one of the top reasons guests choose to book, right? It's just so important. Like, don't skimp on that. I just can't stress that enough. I think most people have heard me say that, but if not, please take it to heart. So according to Airbnb, you know, listing with professional photos receives up to 27% 20% higher earnings, right? So here's just a breakdown of that. And you know, the investment's only $225, $250, it really depends on your market. That's a one-time fee, you're not gonna have to pay it again. So I just highly recommend making that investment. It's really a game changer. Also Airbnb will, if you list with them, which I highly recommend, and you just, you don't know a photographer, they're not hard to find. Ask in your local REIA groups, right? Ask an agent. But if you just want to hire, you can hire one through Airbnb and they will just deduct the fee from your first booking. The only downside is that you have to kind of download the photos yourself. You don't get them in a nice little folder. So that's the only downside, but they are definitely have a very distinct style. They're very stylish and light and bright. So I really like their style when they come out there. They have really strict guidelines for that. Um, so the other mistake I see a lot is like taking forever to furnish and shopping locally and kind of the hunting and packing pack method, if I can say that. So you think you'll save money by hunting for used furniture on Facebook Marketplace, kitchen supplies at Goodwill. Like, I've totally done this. And you find a couch on Facebook, you're going, who can relate back and forth on Messenger, right? When can I pick it up? When will you be home? What kind of payment do you take? And then you get there and you don't even really like it. It's kind of more beat up, right? So it's just, it's a lot of back and forth. And I sometimes I just don't think it's worth it. I do shop locally sometimes. Or maybe you go to Goodwill and say, I'll get like my set of kitchenware I'll get like all of the things. Like, it usually— they— it's very mismatched. They don't have exactly what you want. You're kind of running around to different stores. So, um, you know, is there a better way? Yes. I mean, we all shop online, um, but I think especially just ordering stuff in one fell swoop, like all your kitchen stuff, all your bedding, just order it. Buy a few things locally for some local flavor, but I think it just saves so much time and it's so much more efficient. When you think about your travel time and going to stores and something that you forgot. And then the course, I have like a full furnishing list. You just put on the list and make sure you don't forget anything. So the kind of the game plan here is order, furnish, assemble, and decorate. You know, I think by ordering online you save so much time and you're not running across town. I will say plan like a day or two to implement, to like unbox the boxes, put furniture together, like have a team, have a handyman because it's very time consuming. And have a plan for all the cardboard. Any— if anyone can relate to all the cardboard that's generated when you're furnishing your rental, it is crazy. I seem to forget it all the time. Um, so yeah, uh, Leah, you're saying you're not doing this but seeing AA pictures more and more. Yeah, they're, they've gotten really good. Like, you almost can't even tell. Yeah, Jen, it makes sense. I'm definitely, uh, and it was kind of obvious with stuff, but I— this is kind of what I've heard from my experience. So yeah. Okay. So that is one tip. And then I think, and just generally taking too long to furnish, right? Like when you think about it, if you're taking a whole month to furnish it, then you're missing out on that month's rent. And then month 2, right? You're collecting your rent. So you're collecting $4,000. But what if you got it up and running quicker and you got that first month's rent and the second month's rent and that's like $8,000, right? So just the cash flow and you have your holding costs, right? That you have to cover until you have your first booking. So I'm a big fan of a pre-listing strategy that I cover in the course. Get it up and running, you know, before, you know, just get it listed and get that, those inquiries and get those bookings. So, and then I think the other mistake I see a lot is, you know, not having the right systems in place, not using the right leases. You know, I think there's a lot of questions and midterms are basically just a long-term lease, right? We don't know where to advertise. How do I collect rent? You know, how much of a deposit do I charge? I cover all that in the course. So those are all questions people typically have and can be kind of stumbling blocks. So, you know, you can collect your rent in Venmo and use some generic lease that you got a photocopy of from a friend or something, you know, so why bother? You know, nurses are highly vetted, right? That's— I hear background people say that. But I really think it's important to have clear screening criteria and application process. You need to kind of think like a bank, right? It's really important that you have a process in place that you're running. Unless you're dealing with insurance claims, it's a little bit more nuanced, right? Because the the temporary housing companies are covering the rent. But it's really important to screen very thoroughly. And I think that avoids a lot of the problems that we hear about, like the worst-case scenarios of tenants trashing houses, right? It's just being really thorough in your vetting process. I mean, following the laws, right? I think people are worried you're going to get like a leaky toilet call at 2 AM. This has never ever happened to me, by the way, but I think it's everyone's worst fear. I've had pipes burst and I figured it out, you know, we fixed it. But I think having the right subs in place, the right people in place, the right software for maintenance tickets, you know, it just— you just text your handyman, you text your plumber and they take care of it, right? No big deal. You're not showing up there with a wrench to fix the leak, right? Even if it's in your own house, you're probably going to call someone, right? So same thing. So again, you know, I think Having good systems in place, being really buttoned up attracts quality guests and they will take, take care of your property. So this is kind of the process for leases. I'm going to check if there's any questions before I go on. Leah, you agree? Awesome. Yeah. So Janet's asking about TVs. I, you know, I think with short terms, I feel like it's kind of expected to have them in every room. I personally, my midterms just have one TV in the living room. No one has ever complained. It's never been an issue. It kind of saves on upfront costs. And I feel like everyone has their own devices these days. And here's the thing, if someone really wants a TV or if I'm doing a tour of a family that's been displaced and needs to, you know, we have a temporary residence, I can add a TV, but I personally just have one TV. I also don't love TVs in rooms personally. I just have one TV. I don't think it's— it can't hurt, but I think No one's ever complained and said, well, why isn't there a TV in every single room? I think, you know, people are not there for vacation. When you're there for vacation, maybe that it's more expected. So that's my answer. That's what I do, you know, but, and you can always add a TV, right? If it's really a concern or someone's not booking because of that. So Leah, you agree? Awesome. Great questions. All right. So you know the screening process, right? We're going to set up our rental software. We cover that in the course. I'm a really big fan of making sure that using leases that are compliant to your state and to your specific county. Um, you know, so I have software I recommend for that. Screening your tenants— again, there's some nuance to this if it's an insurance claim versus just a straight-up midterm rental person that's not being— their rent's not being paid by insurance. Again, state-specific leases. Um, management— we really want to have, you know, software in place, right, to collect the rent to do maintenance tickets, to have good communication, right? There's so much software out there. All of it does very similar things, but just don't just collect your rent on Zillow or something or Venmo or whatever. Really have software in place. There's, I just think it's, there's usually apps these days. There's just, there's a lot of functionality that makes it way easier to manage. And then moving in, moving out, like welcome letter. We have a lot of checklists in the course, all that good stuff. Stuff. All right. So again, just protecting your, your midterm rental with the right systems in place. I think a lot of the horror stories we hear about, like they still happen, but if we're screening well, we have quality properties, we generally don't have those kinds of problems. And the other mistake I see a lot is calendar management, especially if you're doing the hybrid strategy of STR, MTR, right? Like you're really focused on MTR, but you're kind of filling in the gaps with an STR. STR strategy, right? We want to have 2 listings and we cover that in the course. So we want to have one listing that maybe has, like, say we have a booking 2 weeks from now, our calendar's kind of tight, but if we have that one booking, we're not going to show up in the search results for a longer-term stay, right? That's why we have 2 listings. We cover that in the course. But for anyone doing the hybrid strategy, you do need to, you do, you do want to have that duplicate listing strategy. All right. So who thinks you can like QX your cash flow without the constant turnover of short-term rentals? Let me know in the comments. It's definitely possible. I mean, there's numbers close to short-term rentals when you think about all your cleaning fees and all the fees you're paying. It's just so, it's so much less stress. So it's definitely doable. So this is kind of the overview of what we cover in the course. There's the analysis, design, marketing, and management. So it really covers nuts to bolts. So MTR analysis, you know, is your market right for midterm rentals? Is there demand? How to check that, right? You want to get your comps right. You don't want to go invest in something and find out it's not a good market for it. We cover that. There's an MTR calculator, you know, knowing what to charge and how much to charge and making sure you're covering like all your, your expenses and whatnot. And you can market— there's a way to market test midterm rentals. I could teach that in the course, you know, make sure there's demand. I also teach a pre-listing strategy. So like look at tell me what you think of these photos. Do they look like they're— are they staged or virtual? This is a little, like, a little test. Let me know what you think. Melanie says yeah, staged. Or like, put staged or virtual in the comments. I'm curious, um, if you guys can tell. Um, but these are actually virtually staged, right? I think they look pretty darn good, right? And we actually got a pretty juicy booking, um, with virtually staged photograph. The family did come see the property and the furniture was different, but this is just a really great strategy to get your listing online without waiting for it to be fully furnished and everything kind of dialed in. So I highly recommend that. Okay, this is one of my students, Rebecca. She took the course and she says, um, you know, we purchased our first nurse rental and having access to your resources will save us so much time. I think that's the thing about, you know, course is just you're going to really ultimately save money and headaches and know, have an exact game plan of what to do. So we're going to kind of go over like very high level all the steps, right? Design, you know, know who you're going to rent to, right? If you have a studio or one bedroom, you're probably going to be more geared to maybe travel nurses, digital nomads who want to make sure that there's like, you know, like a noise machine, blackout curtains, right? If we're in a bigger property, we're going to make sure it's family-friendly or all those family-friendly things we want to think about, right? So just kind of know who you're marketing to. You wanna have a couple different avatars in mind. To make a list, go room by room of all of the furnishings that you need for your place, right? I think it's really good to be very strategic about it and just order everything at once and assemble it and install it and just do it as quickly as you can. Staged virtual, yeah. So you guys are both right. Okay, so in the course we have a furniture checklist. And just some tips for design. I think you can do a lot. You know, I'm in this Airbnb right now. It's kind of minimal, but it definitely feels cozy. Like there's the right amount of stuff. I think you can do a lot with like cozy pillows and blankets and artwork. You don't have to have super high-end finishes. Yeah, that definitely helps sell it, but you don't need to go crazy with like super high-end furniture, right? Like in my experience, it should be quality, but nothing crazy. You know, you don't have to go to Pottery Barn or something. So these are just a couple examples of furnished rentals that I have had, had just for reference to show you. Like this is the duplex, right? We recently rehabbed it, right? We just have like a nice light fixture. We have a TV and some, you know, some decor to make it look kind of interesting, right? A little, it's a little bit eclectic maybe. So that's one of my midterms. Here's another one. Again, it's the rental, right? And you can see like this is not, we rehabbed it, but this is like the original cabinets, right? We just added some new hardware and a new faucet and, you know, a microwave and a new stove, but it's not really like fancy, right? It's not super high-end, but it just has a little flavor. So that's just a couple examples. This is a larger one. It's more modern, right? Just to show you, right? You know, just make it look nice, but it doesn't have to be over the top, right? These are not short-term rentals where someone wants to take Instagram pictures or someone's going to live there and they want to be comfortable and it should be well appointed, right? And you don't have to spend a fortune to do that. And this is another example. It's that modern one. It's a small like one bedroom, right? I like to have live plants. I don't always make it. Sometimes they do, but I just think it adds, adds so much to the feeling of the space. And if I replace them, I'm fine with that. Checking questions. Monica, you're asking, do you— yes, actually, I think they do. Like, I have some, you know, especially for displaced families for insurance claims, like they're coming from a home and if they have a nice home, they're going to want to stay in a nice home, right? So bigger properties like a 3-bedroom to a 5-bedroom might— those are, those are great MTR properties. Um, Melanie, you're asking, how are you doing virtual? Um, yeah, you just, you, you have your picture of the empty room and there's like AI software that you just basically say, I want to stage, like drop down, I want it to be a living room and I want it to be like mid-century modern or farmhouse or whatever the style is. And it just basically drops in the furniture and you can move it around, but it's pretty good out of the gate. Like it has, you just kind of choose your style and what you're decorating and it just, it drops stuff in. It's really, it's pretty amazing. And the other thing is photographers will, if you're shooting an empty house, they will actually, they'll stage it for you virtually. Costs a little more, but if you don't want to deal with doing it yourself, you can do that too. That's definitely an option that I think, I think most photographers offer that these days from what I can tell. So again, here's another one. There's a lot of plants in this one. It's probably a little more eclectic, right? But I get a lot of feedback on it. People like it. And again, I didn't, you know, this is nothing as fancy in here, right? It's some plants, a coffee table, a couch, some pillows, right? A record player. So yeah, not super fancy. This is another one. This is like, I think it's like a 4-bedroom, 2-bath, right? Again, just cozy living room, right? There's a TV down here. I don't have TVs in the bedrooms. This one I did, I did put desks in the rooms because I had some first guests, they were students and they wanted a desk in every room. So I think having a dedicated space desk is really good, important. You're welcome, Melanie. Alright, what else? Okay, so marketing, right? Marketing is a really important piece of this, and I think there's a lot of ways to market, and it's really important. It can kind of keep you fully booked or not. So, right, we wanted the marketing stuff, photography. I highly recommend a virtual and a video tour. I talk about that in the course. A lot of times you can rent these without doing a showing. It does vary on what kind of guest is coming. If it's like a family, they usually wanna see it for a displaced family, but other nurses, they don't need to see it and they're fine with the video tour and virtual tour for the most part. So, you know, choose the right platforms to list on. This is like very high level. I have a full list in the course, you know, but these are like super high level, just where to list. Like these are like temporary housing companies for displaced families. These are like the sites we all know about, Airbnb, Furnished Finder, or VRBO, right? There's a lot more of them, but this is like very high level, you know, be on these places at least, right? You know, then you're gonna hire a photographer. If it's not furnished, you're gonna digitally stage it. Again, I highly recommend virtual and video tours. And another tip is like, it, you know, say you get your place booked, it's not even furnished, make sure that you document it when it's actually fully furnished. I think sometimes we forget that we have a guest move in and then we didn't document it and take photos. And then, you know, at the next turnover, we don't have professional photos. So highly recommend doing that. This is a client I had, Kurt. He's— he says I'm the reason he got into midterm rental. He's making $1K cash flow. And then we had— they had their first rental before it was even furnished. And that's really common with what I teach. Like, it just saves— it makes— make more money. You get online quicker. So that's a successful student. So then management, right? I think it's really important to have the right systems in place. It can be overwhelming. There's a lot of software choices. It also depends on if you're doing, you know, hybrid strategy or just purely midterm. So you want to advertise, screen, lease, onboard, manage. That's kind of the cycle here, right? Having good systems. And I also think self-managing is really doable. You don't need to, right? If you just want to get it set up and hand it off, I'd say it's typically like 20% management fee for midterm rentals. I think that's pretty ubiquitous. Sorry, there's something beeping in the background that's driving me nuts. So set up digital management tools, and there's so much software out there that just makes it— there's apps and makes it really easy to manage these days. So you really, you might want to make sure to screen your guests, right? There's some nuance to it depending on if they're an insurance claim or just a typical guest. And then set up your leases, make sure that you're following all fair housing laws and local landlord-tenant law, and then you check your guests in, you know, be really clear on what they can expect. And I kind of want like an Airbnb check-in experience. Everything is set up, there's a little welcome gift, right? There's really clear house notes, they've got their smart lock access, all of that stuff. Um, all right, so this is Daniel, he's another student. Um, so I helped him get his property on the market and he had it booked within less than 24 hours. So this stuff can happen really quickly. So just the other steps you can follow. I make it really straightforward. And I think one thing I didn't— sorry, one second. What is beeping? Oh, sorry, the fridge is open. Sorry, you guys, I've heard an Airbnb if something was beeping. Any questions on management before I go on and cover some case studies or any other questions while you guys are here? And fair game. Okay, I'll get some questions at the end too. And my camera just like turned off, which is just— see if that works. Okay, well, my camera is having issues. Okay, I'm off camera. Okay, um, so let's see a case study here. I'm trying to get the camera back on. Um, what happened here? All right. Well, it is what it is. Okay. So case study. This is a case study. This is like a high— it's like a— there's an ADU in the property, right? So there's 2 units on it. So the cash flow is right. These are like the long-term rents, right? Approximately $3,400, $1,500 midterm. It's almost $7K and like $2K, right? After all our expenses, this is our cash flow, right? Which is really amazing for like, you know, basically a single family, small multifamily, right? It's a really good cash flow. Now I'm going on to this. This is the duplex I bought recently off market. And again, like long term would be about $1,400 and $1,200, right? Somewhere in there. Midterm, we're getting these numbers and our cash flow is like almost $1,800, right? Which is awesome for a duplex, which long term would be like, if you're getting $200 door, that's considered pretty good. All right. So let's see. This is another example. This is again kind of a duplex situation. I love duplexes. You can also do like half long-term, half midterm, right? So, you know, Unit A was getting about $2,600 long-term. It's like a 3/2. Unit B, about maybe $1,700 long-term. And these are the midterm rents I'm getting. So after all my expenses, right, it's like $4,600 cash flow, which is really good, right? That's not short-term, that's like pretty consistent income with midterm bookings. Um, this is another one, this is a client, um, right? So long-term is about $2,195, it's a 2/1, right? Uh, the midterm rent is $4,600 and the cash flow is about, you know, $2,400, right? For which, for a single family is really unheard of, right? Unless you're doing like a short-term rental. So, but you're getting these numbers without all that turnover. Um, Another example, this is like a 3/2. This is a pretty nice property. It was recently rehabbed. Cash flow is about $2K, right? After expenses, right? So there's really good numbers. I think that might be duplicate. Okay. This is another one. This is like a townhouse. There's a $16K booking. It's a 3-bedroom, 2.5-bath. Its cash flow is almost $2K a month, which is really good, right? Again, these numbers are pretty awesome. So that, you know, the question is how can you apply this framework to your business to create this kind of cash flow? I'm sorry, my camera just cracked. All right, so, so who do you want to be, right? Like, do you want to have a system in place or you want to just kind of not know what you're doing or take forever to get booked and get listed, which is what I did. So I'd love to help you guys start making more profit by setting up your midterm rental. You know, have a clear framework that takes the guesswork out of setting up a midterm rental, right? There's a really clear game plan. So I do have the Midterm Rental Playbook and the doors are open for that. So I'm going to give an overview of kind of exactly what you get in the course, right? So you get the MTR Playbook course, you get all this on-demand content, tons of videos and resources like SOPs and checklists and all of that stuff. And then recommended tools and software, and that includes like AI tools, like having AI, like ChatGPT, how to leverage that for your listings and your pricing and everything like that. So lots of tools and tips. And then you get coaching and access to the community. So you get weekly group coaching calls, and that's for 3 months. Open Q&A, anything you need to workshop or get support on. And then there's also one-on-one calls you get to book like whenever you need help with something. I'm really there for you. Other programs really don't offer that one-on-one access, but I do. Um, so that's really unique to my program. Um, there's also a private members-only community, right? So you get to post your questions, share leads, share support. And then also if you have like a partner you're working with, an admin or a business partner or someone you're, you know, doing— want to get— buy rentals with, you get to bring a partner in for free. That's included in the cost of the course. And there's the fast action bonus, the top 10 amenities. The doors are officially open. So, you know, if you got started today, like, what would it take to make back the investment, right? If you just get your booking online quickly, I— my goal is for students to get booked just way faster and start making that— make crazy cash flow. It can be really be a game changer. This is Kelly B. She's a student of mine. So that was very helpful to get an idea of what it takes to run midterm rentals. This is Bonnie. Bonnie says, I'm hooked in, it's all because of you and your fabulous teaching. And she's basically converting all her rentals over to midterm rentals. She, I think she had evolved managing some of her short terms, and as we all know, they are not the best, right? So yeah, that's that. Let's see. Yeah. Okay. So that is just a couple of students. So I am offering a Black Friday special. You basically could save $500, especially will be on that much longer, so it's a really great opportunity. If you want to scan that QR code, it'll take you to the signup page. And again, make sure you get a picture of that, and I will, I will drop it in the chat as well. Um, so I'm going to stop sharing. Am I— I see my camera is still, still done. Um, interesting. I guess I'll leave it up here. But yeah, if you guys have any questions, I'm just going to leave this up and I will drop it in the chat. You guys are interested in signing up, it's a great opportunity. Again, I'm not sure how much longer I'll be offering the one-on-one portion, but right now I am, so it's a great opportunity to jump in. So I'm gonna hang on and see if you guys have any questions. I'm sorry, my camera decided to go offline. I need to figure that out. It's just a little, a little odd. This does that. So I will drop that link in, and for anyone still on, happy to answer any questions. Like, anything's fair game, just ask away. I do also have, excuse me, a payment plan if you're interested. I'm happy to talk about that. It's a little bit more, but it makes it a little, it just breaks it up a little more. So here's a link if you guys are interested in signing up. I'm going to post that now. So yeah, let's see. Um, okay. Monica is asking, what marketing do you get most of your rentals from? Yeah, that's a really great question. You know, I'm, You know, it really depends. It's kind of a mix of like the typical sites like Airbnb, Furnished Finder, and then being listed in the right databases that I cover in the course. So you really want to be kind of omnipresent. You want to be wherever someone is looking, from Zillow to Airbnb to Furnished Finder to getting yourself in the databases, right? So you just, you just want to be everywhere. There's not like one consistent place. And then ultimately we're kind of, you know, we're building our network and we're that's where we're getting leads from the network that we've built and, you know, working with temporary housing companies. I get leads that way too, and that just kind of takes time, right? That's a really good question. Um, what platform channel manager do you recommend for MTR, STR? You know, I have to be honest, I, um, I'm purely, um, MTR and long-term, so I use Buildium. It's really a long-term focus thing. There's a ton of good channel managers. I can't Gesty, I think, is— there's a lot of them out there. I personally just don't use them because I am in— where I'm at in Portland, we can't, we can't do short-term unless you live at the property. So I have a couple in the course. I don't remember them offhand. I just, I don't use them. And I think they're really— a lot of times, you know, if you're not doing a ton of short-terms, it may not be necessary. But if you are, like, I would say, you know, as far as dynamic pricing, I think PriceLabs is a great one just, you know, to maximize your pricing if you are doing the hybrid strategy. But again, I just, I, I don't use a channel manager because I'm really, really focused on just the midterm. But I do have students that are doing the hybrid strategy and I can really about kind of optimizing your listings for both. So yeah, sorry, I can't answer that one better. I was just like to be as honest as I can. Yeah, any other questions about that? But marketing is super important, right? Just being in the right places, getting found, right? And kind of optimizing, really optimizing your listings to show that we understand the model for temporary housing for families that have been displaced, digital nomads, people traveling, like flexible lease terms. All of those things really helps us kind of, you know, stand out and that we understand this model. So that's really what we cover a lot of that in the course. So good questions. Anything else? You guys are still on, so I'm happy to answer anything, anything at all. Any other questions? But yeah, this— oh, you're so welcome, Shayna. That was helpful. You're welcome. Yeah, if you guys have any feedback, it's always helpful for me to know. How— so how is the masterclass— so this is like, to be honest, that's a really good question, Shane. And then masterclass is really like a very broad overview, right? Like I touched on a lot of stuff, like very high level, but there is so much nuance and detail that goes into your listings, how you're listing, how you're positioning yourself, like where you're listing exactly. And I think having someone guide you as a coach, like how to get your listing up quickly, where to list, how to list, just how, you know, what software to use. Like, I covered at very high level, and yes, you know, you don't need to have a coach or program, but the idea is I think it really jumpstarts the journey and gets you online quicker and gets you cash flowing quicker. And, you know, having— knowing what to charge and how to charge can be a real game changer because there's a lot of nuance to it, especially with like insurance claims for displaced families, right? So there's a lot of nuance to it. In my mind, when I've done coaching programs, it's just helped me get to the next level. Quicker and help me scale. So I— that's how I would answer that question. It's a good question. Um, yeah, and I do have a ton of like, you know, free content out there too. I do a lot of these trainings and stuff, so it is out there. But I think the benefit of making an investment is just jump-starting that, that listing, getting it online quicker, and getting that booking and getting your cash flow sooner than later. So thanks for the question. Yeah, any other questions? Happy to answer them, no problem at all. Yeah, I'm gonna see if I can get— I'm gonna change my camera here, if that will work. Okay, I'm back, my camera. All right, yeah, any other questions? Um, you guys are still here, I really appreciate taking the time. I know it's like on the eve of like a holiday, so, um, but I've been trying pretty consistent with the live, so I wanted to make sure to do that. And I just added some fresh case studies to the presentation. So I wanted to share that. And if you guys are interested, you know, you want to have questions about the course, like, yeah, you can totally reach out. I'm happy to answer anything. I will say this is a really good deal and it probably won't be available much longer. So definitely it's a good opportunity. You know, if you're on the fence, like, let me know what your questions are. I'm happy to address them. But I'm always kind of improving it and you do have lifetime access to the course, right? So as I add new material, new trainings, you get lifetime access, and then you get lifetime access to the private Facebook group, which is great, right? That's a really great community. We're all supporting each other. Yeah, any other questions? Like, ask me anything. I'm here, I'm here for you guys. But thank you for tuning in. I really appreciate it. Yeah, I'll hang on for a few more minutes. And then I'm gonna relax in this cute little cabin that we're staying in. It's really charming. I wish I could show you guys. It's very kind of modern and minimal, but it has the cozy factor. They've had some really good balance. So, but yeah, if you're watching the replay and have any questions, just totally reach out. Let me know what I can answer. You can also book a call with me and we can go over, you know, if the playbook would be a good option for you where you're at. I'm really honest. I won't tell you if it's not right, but if it is, you know, I really enjoy working with students. I feel like they just, they get online much quicker and they can really scale better and all of the things that a coach helps you do, keeps you accountable. All right. Well, I'd love to know any takeaways that you guys got, anything that you learned. That's really helpful for me to know just where to focus these presentations on. You guys wanna share that, I'd super appreciate it. It's always good to hear. So I'm kind of talking as a one-way conversation right now. Um, if not, I will let you guys go. I'll hang on for like another minute. But yeah, I just— I mean, I think the price will probably be going up next year. I'm pretty sure. I haven't decided, but, um, this kind of depends. So, you know, this— I don't think this deal will come around again. Um, but thanks again for tuning in. I don't see any more questions. I see a few more people online, so I, I'm serious, ask me anything. I'll answer. You've got my full attention. Yeah, I love, I love rentals. I love the strategy. I love coaching students. I just think it's such a great strategy as investors. We're really after, you know, financial freedom and passive income. You're welcome, Wendy. Thanks so much for tuning in. I appreciate you always tuning in. Thank you, Melanie. You're welcome. Thanks for tuning in. Awesome. Thank you, Monica. Awesome. I'll drop that link in like one more time if anyone's interested in signing up, or you can just reach out to me, just shoot me a quick message and I will, I'll get back to you. I have a couple spots left in my calendar if you're interested in chatting, and that's no problem. Just drop that link in one more time. All right, okay, yay. All right, well, yeah, let me know if you have questions. I'd love to work with you. Again, there's just a Black Friday special. You can— it's pretty good savings right now. So thanks again, you guys. Always nice. I always appreciate you taking the time. I know you have a lot of other things you could be doing, so it means a lot that you guys tuned in. Appreciate it. All right, I think I'm gonna sign out again. If you're watching the replay, let me know if you have questions, or if you want to sign up, just reach out. Or you can just sign up and you get like instant access. We'll set up your onboarding call and all of that fun stuff. So, all right, I think I'm gonna sign off. Have a great evening.