How We Turned a $9K+ MTR Booking into a Direct Deal

Hey y'all, um, I'm about to go live. Hopefully this works. Um, it's being a little glitchy as usual, so I'm not— hold on, let me just try and get this to work. It's not working, of course. Um, supposed to work. Hold on. Um, why is it not working? Okay, connect, stream setup, go live. Hmm, okay, if anyone's there, just bear with me here. It's supposed to be working. It looks like it's working, but it's just being weird. Um, why is this not working? Complete post details. I think Facebook's being a little glitchy. Um, um. It's not working again. Really weird. Okay, let's try this again. Okay, um, Facebook is just not happy. I think this happened last time, so I don't think it's me. I think I'm gonna just go live in, um, YouTube. And so just give me a second here. Um, yeah, it's— Facebook is having a moment. It is having a moment. So, all right, hey everyone, this is Shauna from She's Got Assets, um, doing a livestream, a really fun case study. So if you're just tuning in, I'm just having a little technical thing with Facebook kind of being a pill. So, um, I'm gonna just let everyone know I'm live in YouTube. So hold on, let me just do a quick thing here and then we're gonna kind of dive into it. I don't know why Facebook is not working. It's supposed to work. Okay. So hold on, if anyone's there, sorry, this is like the boring part of the backend. Um, I'm just gonna let everyone know that we are live. Um, okay, so I'm gonna get a link to this. Okay, so I'm gonna just hang on one second, I'm gonna post this on Facebook. I don't know why Facebook is not working. It's being a pill. Okay. I'm gonna pin this really fast. If anyone's actually tuning in, we're almost there. Um, I just— Facebook is not cooperating for the live stream, so we're almost there. Um, I just— Facebook is not cooperating for a live stream, so all right, I gotta turn this off because I can't It's going to be an echo. Okay, well, let me just try one more time to go live on Facebook, but it's just for some reason it's not cooperating. So, um, yeah, just not cooperating. So I don't know why it's doing this. I think it's having some issues. So, um, let me just make sure everyone can see this. Okay, always awkward when I'm trying to go live in all these different places. So if anyone's actually watching, like, let me know, um I'm just gonna comment for a few people. Hold on, let's see. Okay, we're almost there. Okay, I— yeah, I don't know what's going on. It's always something. This is the joys of, of live streaming. It doesn't always work seamlessly like it's supposed to. Thought I had it down, and then guess what? It does not work. So, um, we're going to kick off in one second and just, um Just trying to see if it will work. Yeah, it's not connecting. Okay, all right, well, here we go. Okay, we're gonna just start over again. Hey everyone, this is Shona from She's Got Assets. Um, I am the founder of She's Got Assets. I have a podcast by that name, and I also coach students on how to set up their midterm rentals and buy off-market property. So I have a really fun case study tonight. I'm going to dive into it. I'm just kind of give you some tips and tricks on how to— when you get a lead, what to do with it. Um, I can't go over everything, but I'll give you like a really good overview, um, and then we can go from there. So, um, just, I'm going to start kind of high level here. Again, if you're just tuning in, this is Shauna from She's Got Assets. If you, if you do hear me and see me, just say hey, let me know you're calling in from. My livestream is not going live on Facebook. So if anyone's over there, we're live on YouTube and Instagram. Facebook is not cooperating. Um, so essentially, you know, with the midterm space, like we have lots of different avatars, right? One of them is, a family who has been displaced by an insurance— by some kind of disaster in their home, like a fire. So I'm going to tell the story tonight of a family that I helped place into a property that had been displaced by a fire and kind of go through the process. I can't cover everything, a lot of this is in the course, but I'll go as much detail as I can and answer any questions. Um, so hopefully that will give you guys some guidance. And then I'm just going to pull up a note here. This is an awkward live stream tonight. Um, hold on, let me just pull up my notes here. Um, okay, well, I don't have them. So basically what happened was, you know, we want to, we want to be omnipresent in our marketing, and I cover that in the course. You want to be everywhere. Um, so I got a lead, right? I got a booking and it said, hey, this is X name from X company, we have a family of 2 and 2 cats and they've been displaced by a fire. And they definitely like dropped their name and dropped their company name, right? I don't know if they were doing that just because, but they were definitely kind of dropping their information. And so I— that was an on, you know, and in the world of bookings, right, sometimes we get an on-platform booking with like VRBO or Airbnb, one of those platforms. And sometimes we get a direct booking. In this case, it came from the platform. But, you know, oftentimes our goal is to get them off platform. They like that better. It's easier to kind of navigate all the ins and outs. We can do like a real proper screening. So In this case, I got, I got the booking and it said, you know, all that information. It gave the company name and the person's name. And I thought, well, you know, that what I typically do when I can, I see a company, even if I don't see a company, I will pick up the phone. I will call that company. It was a temporary housing company. And I will say, hey, I'm looking for X name. Can you find them? Do you know what department they're in? And typically they will, you can find them, right? Sometimes it takes a few calls, but I'm always trying to get a direct booking off the platform. I'm never writing back and saying, hey, like, you know, reach me at like spelling my name or their number out in some weird way, right? There's other ways to do it that we cover in the course, but typically if I have a name and it's a company I've worked with, a temporary housing company, I will reach back out to them. Um, but so just, and just step back a little bit, you know, when a family does have like a fire or flood in their home, right? What they do is they call their insurance company, like say State Farm, right? State Farm says, okay, they send out an adjuster and the adjuster says, yes, you know, we need to do all this rehab and you're approved for temporary housing. But here's the thing, Insurance companies are not housing companies, right? That's not what they do. That's not their jam. So they partner with temp— what are called temporary housing companies, like ALE Solutions, like Sedgwick, those kind of companies, right? There's a whole lot of them. You can Google them. They're out there. You can list yourself on their databases. And they— then they reach out to us as, you know, MTR operators and say, you know, I have this family, here's how long they're looking to stay. They typically don't give you their budget, and so you kind of have to figure out what the right budget would be. And we cover that in the course. So they give you the budget. They typically will say how many adults, um, how many pets. Like, they'll typically say 2 cats, or if they're looking for anything special, right? And they'll generally give you the time frame. In this case, it was a 4-month booking, and they said, well, we're looking for a 4-month booking. So I thought, great, that's, you know, that's a pretty good deal. So I give them a bit of a discount. Um, it was still a $9K+ booking with pet fees, right? So I reached out to the company, right, or that reached out to me. I got a hold of the person, I got them on the phone. Sometimes you have to be a little persistent, right? But I definitely reached out to them, and they said, great, I'm so glad you reached out. And I always explain to them, I know the process, and they're usually really easy to work with, right? And so what happens from there, they ask for the proposal, right? They asked for the proposal, and I have a template in the course, in the EMTR Playbook, and they're asking for lots of details about it, right? What's the price, the cleaning fees, all that stuff. Um, and so I got that back over to them and they say, awesome, thank you. And they send that back to the adjuster, right? And the adjuster needs to approve that. In this case, The family was very savvy. They were great to work with. They actually had a public adjuster, right? They had a fire in their home. I'm not sure how they heard about public adjusters, but a public adjuster is somebody that works for the family that's been— that's had the damage, right? They're not— they're advocating for the family. They're not— they don't work for the insurance company. So typically they can get you more money. They can— they're just better to deal with and they're quicker, right? So that's a public adjuster, and they're paid kind of on a contingency basis. If you haven't heard of public adjusters, it's That's a great tip. So this family was very savvy. They had a public adjuster. They actually also reached out on the same platform with a direct message. So they were extremely communicative, which is really great. So essentially once that booking got confirmed, I did my proposal, but I, you know, I cover all that in the course and they goes back to the adjuster. And then it got approved that the proposal got approved for the length of stay and the pricing and all the extra fees and all that stuff. And then the next step is the family came to check out the property. It's typically an in-person tour, right? Because, um, they, they want to see it. They're local. They're typically looking for something that's like pretty close to the home that was damaged, right? They, they live and work in the area, right? This is going to be their home away from home. It's not like they're there for vacation. So typically they're going to want to see the property. Um, do a couple shout outs. Um, hey Casey! Hey Shannon! Hey Dylan! If you guys have questions, let me know. I've got Instagram up, right? So, um, Yeah, so they're going to see the property typically, and I'm always there in person unless I have someone helping me, right? And I'm always saying like, hey, like, if you, you know, let us know what you're looking for. And sometimes there's special configurations like moving some desks around and moving some beds around, things like that. They're going to be there for a while, right? And they're paying us a premium, so we always really want to accommodate those requests. Um, sometimes it's like a crib or something like that. They came to see the property, they were, they were just so grateful. They had, they had had a fire in their garage. It started in the garage. They have no idea how it started. Luckily, their smoke detectors went off in their residence and they were just, I think they were in an Airbnb for a couple of days. So they were just so happy to be getting into a property that was the right fit for them. And so that's kind of, that's part of the process, right? The family comes, sees it. I always explain, hey, I can't guarantee to hold this for you. You need to let your adjuster know. You need to let your temporary housing company know. That, um, that we— that if you're interested, they've had a lot of inquiries. Be sure to follow up with them. And then once it's approved, um, then they'll approve it. And then essentially you start the paperwork process. Typically there's like a paperwork department. I cover this more in the course. And now they'll kind of give you all the information. There's a lot of back and forth. And they, uh, typically will like want to see a copy of your lease. And I cover how to do that in the course. Um, and also there is— I do recommend screening. I cover how the style of screening in the course, but they are in your property. Like, they are— insurance is paying for this, right? But, um, awesome, you can see me and hear me, Shannon. Thank you. Um, you know the drill. Um, so yeah, essentially, you know, the lease, the lease is in the name of you as the property owner or whoever is the owner of the property and, um, and the, the guests that's staying there, right? Insurance is not on these leases. So, but that's who's actually financially responsible. So I always, I recommend doing a screening. I talk a lot about how to do the screening and software in the course, but you do a screening. And then once that's approved, you typically will get all your paperwork done. I cover that in more in-depth in the course, but, um, there's just a lot of back and forth and a lot of moving parts, and this can go really quickly, right? So the family's typically looking to move in as soon as possible because they're in some kind of transition, right? Their home has been damaged. They're often in a hotel. When you think about it, having like 2 cats and, or 2 dogs and kids in a hotel room, is just like, it's not comfortable, right? Who wants to stay in a hotel for a long period of time, right? So, um, that's like typically how the process works with the family. So in this case, it moved really quickly, and it's really important that you're on the ball, that you're following up with all the paperwork. Again, we cover that in the course, and you're communicating with the family and the temporary housing company. But once that family sees the property and they have that approval in place, you need to move super quickly because they are very generally pretty motivated. They want to get into the property. So it's important to kind of have all your, your software in place, your screening services, and all of that stuff. Because once we get approval, this can happen very quickly. Um, and the family was just like so happy again because I had a fire in their home. They're looking at least, at least 4 months. And it's generally always— that's unusual to get a 4-month booking. And they often start with the 1 or 2 months and then they will extend. So, and typically fire is the longest type of stay. There's just more damage or smoke damage and stuff. So, um, and yes, you know, we're allowing pets, we're charging fees for that, we have that proposal in the course. We kind of COVID what we're charging. But, um, it— families— pets are part of your family, right? So it's super important that you're pet friendly. Um, yeah, just a couple other things. Make sure you're moving quickly. Make sure you're getting back to these leads, following up in a nice way, in a friendly way, right? But they're really busy. And once the family sees the property, again, things move very quickly. Um, I've moved families in like in 1 or 2 days. Sometimes it takes longer. Sometimes you don't maybe have the vacancy, but it can move very quickly. So it's important that you're kind kind of ready for this and you are in the right places and you know how to get someone offline. Because I prefer that because you're actually screening the guests, right? You're not just going by like Airbnb's or Vrbo's policy. So that to me, that is super important. Um, so yeah, that's kind of very high level, um, how this process works. So the family has a claim, they, they will, right, they will call their insurance company, then the, then the insurance company comes, sends an adjuster out to check the property. If someone doesn't have an adjuster already, it's a public adjuster is a really great resource because they're really going to advocate you and actually get the families a lot more money typically, um, because they're not working for insurance. And then they will involve the temporary housing company. There's a ton of temporary housing companies. I mean, you can Google them. I have them in the course, but they— you can list yourself on their databases. They reach out to you, and I've also built relationships up with them, right? So they'll come to me sometimes directly with when they have a family that they're looking to place. Um, that's like super high level on the process, and this was like a really great booking. This is a 5-bedroom property, 2.5-bath, and it's like a little over $9K a month, right? So that's, that's pretty good cash flow when you think about single family. Um, it depends on your mortgage. It could, you know, that's, that's great cash flow. Typically when we think of single family, we're thinking like $200 a month or something. So, um, and I think the beautiful thing is we're really helping a family out in need. We're moving quickly, we're getting them settled, they have a place to go while their home is being rehabbed. So that's what I love about this model, is we're making great cash flow and we're really helping people out. So, um, I have a few minutes for questions if anyone has questions and kind of how the process works, and then I'll kind of go into how, how I coach students on this in the course if everyone is— anyone's open to that. Um, so I don't see any comments. I'm just checking and checking all the platforms. Unfortunately, Facebook Live just did not cooperate. So, okay. Um, yeah, but that's really high level. I mean, insurance is, you know, it's very simple, but it's, it's a lot of parties, a lot of pieces, and it can move extremely quickly. So it's really important to be prepared, you know, have your proposal put together and move quickly, follow up, get your paperwork out ASAP. I've moved families in the same day, right? It's a little bit quick, but we wanna make sure we're moving quickly. Wanna make sure we have our tools and software in place to get these juicy bookings, right? We can't predict when we're gonna get them. At all, right? We always want to make sure we're attracting different avatars that we can certainly optimize for these type of like $9K bookings by optimizing your listings with the right kind of language, the right copy, and also being in the right places, right? Being in all the right platforms. Um, so that is kind of high level. I don't see any questions, so this might be a short livestream. I think most people kind of tune in on Facebook. Um, if anyone has questions on Instagram, like totally feel free. But again, I just want to reiterate that these leads can come in, they seems like slow and then they go really quickly. So you really just need to have your paperwork together, have your lease together if you're getting them off platform, which is my preference. We always want to be on the major platforms, though we want to be, you know, we want to have the strategy to get them off platform. It really saves them money, it saves us money. I think it's a lot more secure because we're actually screening the guests right in a specific way, um, but we are definitely screening them because they are ultimately financially responsible. So that's kind of how the process works. If anyone is interested in learning more about my coaching program, the MTR Playbook, please reach out. I do have a special going on. It's 20% off till Saturday, and I walk you through the whole process, you know, from how to optimize your listings, exactly what copy to put in, templates, exactly where to list, all the platforms. There's a lot of them. You'd be really surprised. It's more than just, you know, Airbnb and Furnished Finder. There's like about 80 places I have on my list, and I have exact templates templates and checklists of how to optimize your listing. And I have, you know, proposals for insurance claims. I talk about the process and really unpack it because when you're in the middle of it, it can be really confusing. And if you don't know how to move quickly, um, hey Bonnie from Virginia, awesome. I appreciate you found me on, um, on YouTube. Facebook was not cooperating. So yeah, Bonnie is one of my students. She's awesome. She's totally gotten lots of insurance bookings, um, with the strategy. Thanks for tuning in, Bonnie. Um, but yeah, it's— I just love that we're helping families and we're making great profit. But there's a lot of nuance to how we're making these proposals, right? How we do the pricing structure. Um, we definitely want to be fair about it, but we have to be— we have to do it in a way that makes sure it fits the client's budget. And there's definitely nuance to that that I cover in the course. Um, so yeah, definitely, um, reach out if you're interested. I'm gonna drop, um, the link to book a call and to sign up into the, um I'll put it on YouTube, right? Because I think most people are watching there. But yeah, it's just— I just wanted to get on and share, um, share some tips. Bonnie, thank you so much. Bonnie says Shona's program has been a game changer for me. I highly recommend it. Thank you, Bonnie. You're one of my star students. I really appreciate that. Yeah, if you follow the program, like, I give you the recipe. Um, I have like this analogy. I'm teaching my kids how to cook, right? And you know, you get that like pancake box, right? And it's like 2 eggs and something else, right? Sprinkle this, sprinkle that. And that's like what I give you along with the one-on-one coaching. So everyone has— is every— everyone's like in a different place in their journey with setting up their midterm rental, or maybe they just need some optimizing, right? So I really work with you directly to get these kind of— I can't guarantee them, but to be optimized and be found for families. Um, and I, I really love that we're helping people. And again, these can happen really quickly. So sometimes we're struggling with vacancy, right? We don't have a booking, and sometimes it's just turning lovers on our listing, or we're not in the right places, or we haven't networked with the right people. And that feeling when you talk to a family and they're just— you can just see it in their face, they're just like, oh my gosh, I love the property, this is going to be a perfect fit. Like, the family was like telling me about how they, you know, how they found out when their, their house had— their garage was on fire, the smoke detectors were going off, and the fire department came and they, they couldn't figure it out right. And they were just like, oh, this— the property was, you know, really close to all their favorite restaurants and all of that stuff. So, and because they do wanna be close to their original home because they're really overseeing the rehab and all of that stuff. And if there's kids involved, right, they wanna be in the same school district. So there's a lot of pieces to this and I think it really helps to, you know, have a coach or someone walk you through it. Cause when you're in the middle of it, it's, it can be overwhelming and you're not always sure how to respond. And, um, you know, first and foremost, we just wanna be really, um, really prompt get back to people really quickly, keep the process moving, right? Have your paperwork together, have your proposal ready, follow up, get back with everyone quickly, you know, over-communicate. I think especially with the homeowners and the temporary housing company, we generally don't talk to adjusters. I will gently prod, you know, and just say, hey, follow up with your adjuster, right? Get approval on this because someone else could snap up the property, right? So it's really important that we, um, that we communicate well and understand the process really well so that when we, we are booking, we, you know, when we get these kind of leads, we know what to do. We know how to move quickly and get someone fast and help a family out and, you know, make great cash flow. So again, if anyone's interested in the MTR Playbook program, I have a couple options. One is really one-on-one focus with a lot of tools and training, and one is the MTR Essentials. It's really if you just want kind of where to list and how to list and you're already a pretty seasoned operator, that's that's probably a better fit for you. You can, you know, book a call with me and we can figure out what's, what's the best fit. And if it's not a good fit, no problem, you'll be on your way. I'll leave you with some tips, like no pressure. But if you're interested, this is a great opportunity to jump in. So I'm super bummed that Facebook just did not cooperate tonight. So if anyone on Instagram has questions— hey guys, it's great to see you. Um, Anna, I see, I see Maurice. I'm probably saying that wrong. Let me know where you're calling in from and if this was valuable, because I always feel like I'm I'm just kind of talking to myself on these live streams. If you have any questions, I'm like more than happy to answer them. Okay, I see a question. Shannon is asking, do I arbitrage any properties or do I own all my MTRs? I love that question, Shannon. Here's my two cents on arbitrage. Like, so if anyone doesn't know, let me just kind of explain it. Arbitrage is, um, arbitrage is when you, you basically rent a property from a longtime landlord, like say for a year, right? You, you lease it, you lease the property. then you go ahead and furnish it and then you can, you sublease it to, for a midterm model, right? So you don't actually own the property, you're spending all the money and furnishing it, and then you are looking to rent it. What I don't like about arbitrage, like, people kill it in that strategy. For me, I want to, I own all our midterms. I co-host a little bit, um, but I don't like it because you're not getting all the benefits of owning property and it's just basically a business. It's not truly an investment. So Arbitrage would be great, that when you think about it, you have the upfront costs, you're, you're on the hook for that monthly payment if it's booked or not, right? And it's not your property. You're paying— essentially, you're paying somebody else's mortgage, which is fine. And then you're paying for all the furniture costs upfront, right, which can be a chunk depending on how scrappy you are. I'm pretty scrappy, so— but you don't own the property, you get— you don't get all the tax benefits. If, if you're vacant, you're just paying someone's mortgage and you're really on the hook. So I'm not a big fan of arbitrage. People do it really well. You can scale quickly that way, but again, it's like you're just furnishing somebody else's property and you're paying someone else's mortgage. There is something that's called reverse arbitrage, which I think is something I'm, you know, I would possibly do. That's essentially where you get a lead, say it's a family, you get their budget and you go find a property and then you rent it. And that's reverse arbitrage because you get the lead and then the property. So you know you have a good— you know, you know you have a booking ready before you're actually leasing that property. And that to me makes a lot of sense because you're not carrying all that overhead if you're vacancy. So, and sometimes we do get great leads and like we get to help the family out, we're helping out the temporary housing company, and that's reverse arbitrage. So, um, that was my long-winded answer. I would do reverse. I'm not a fan of arbitrage. I think every strategy works, and real estate is just— we have a toolbox, right? Um, and you got to figure out what the right toolbox is and what makes sense. I think sometimes if you're just starting out, you can reverse arbitrage to get your feet wet. I personally would focus on buying the property and owning it if you can. There's lots of ways to get financing or get creative with that. So, um, I hope that answered your question. Um, Bonnie says, always extremely valuable. You're so welcome, Bonnie. Any other questions? Yeah, anything's game. Um, there's a lot of tools in this industry. We— a lot of these terms are thrown around. Arbitrage is definitely one of them. Again, it's not my favorite, but reverse arbitrage I think is great. Um, so yeah, um, any other questions? Happy to stay on. I see a few more people here, so let me know. Again, I will drop, um, some links in the chat. I'm gonna do that really— drop some links in, um, on YouTube. I don't know if I can comment, you know, Instagram. Let's see if I— I'm gonna add some comments on Instagram. Let's see how this works. I'm usually all on Facebook. So there's a link if anyone's interested in the course, you can sign up here. Um, there's a discount going on, it goes, goes until Friday. Okay, that worked. And then also, um, the MTR Essentials one is really just kind of like the cake recipe, right? If you don't need the extra coaching and you really just want all the tools and templates and that stuff, and you're more of a seasoned operator. Um, then if you want to book a call, I will drop that link over here. Um, one second, let me me just pull that up. But yeah, any other questions? I'm curious if people on the call right now— do you guys maybe drop a 1 if you already have an MTR and a 2 if you're just getting into this or you're kind of intrigued by it? It's always good to know who I'm talking to. Um, okay, I'm gonna book that. I'm gonna drop that link into book. Um, okay, here we go. I'll drop it in here. So if anyone's interested, feel free to book a call. I've got a few spots left. I'm pretty booked up this week, but Marisha's asking virtual tours. Yeah, that's a great question. So, um, I cover this in the course, but yeah, um, I would hire someone. I don't— either apps and stuff, but I would certainly just hire someone. And those, I cover it more in the course, but you have to kind of self-host the virtual tours. Video tours, 100%, you can DIY them. Again, I prefer having it done professionally because I've just seen the difference, and I am a big fan you know, just having it done. It's an upfront marketing cost, right? But a lot of times people will book sight unseen. Again, the caveat with insurance is I just had someone book sight unseen, but that's not, that's not very common. Mostly families actually wanna see the property because they are in the area, right? They wanna be close to their home that was damaged. They typically will always, um, they will always tour the property first and then we don't need the video and virtual tours, right? But, um, or sometimes if the property's occupied, you can try that. But typically they wanna see it. But if you're, if you're going after like traveling nurses or digital nomads, they'll totally book the sight unseen with video and virtual tours. So it's a really good thing to have, um, in the can. Um, to just getting started. Yeah. And midterms are great strategy. You know, I feel like you get to help people. There's great cash flow. You have really high quality guests, all of those things. So I'm a big fan of midterm, but you gotta figure out what makes sense, right? Do your research, maybe try a couple things out. But when I'm working with students, I know like Bonnie had a lot of short-term Bonnie, you can chime in. And, and then you're going over to midterms for a lot of different reasons. But I think once you get a taste of, you know, we're not dealing with constant turnover and high-maintenance guests, and we're not worrying about our last review, right? With short-term, we're really at the mercy of reviews, right? If a guest for whatever reason does not have a great experience— not to say we're not all about experience— but they can leave you a review. And if it's less than like 4 or 5 stars, even— I think less— anything less than 5 is considered kind of a bad review. So we're kind of at the mercy of that. We're also kind of at the mercy of the platforms, right, versus like building relationships and getting insurance leads. Um, so that, yeah, that's the question. Um, so Marisha's asking, are there any VAs? Um, you know, so yeah, I think it's— so in my course I have like this huge long spreadsheet, right? It's really prioritized, like the top 18 places, and then it goes down there, and I think there's like maybe 90 places. Any VA, you could spend a half hour with them, and I have training in the course. I just have to go and basically cut and paste and upload images to a database. I don't have a certain service that I use for VAs. I don't know of any that are like— you could try Fiverr or something, but there is some nuance to it. So I wouldn't just toss it to someone without having them know exactly what they're doing. So I've had VAs put listings up for me and they kind of made some mistakes on the pricing. So anyone can do this, or if you have kids that are teenagers, possibly you just put on a movie or something and just go tackle the databases, right? Just cut and paste into them. Um, but it's definitely worth doing because leads come in from the databases or they come in from the platforms, right? Like the Airbnb and the Verbos. So really good question. Um, do I price the prop? Yeah, the pricing thing is, um, it— so typically it's the size. Pricing is a very nuanced thing, and to like, I unpack it a lot in the course, but essentially like insurance is going to be looking for like at least a 3/2 typically, or a 5-bedroom, right? They're placing families, right? And so the way we're pricing it as a tiered pricing strategy. I'm covering that in the course. They're basically— we're pricing it based on the length of stay. We're not jacking it up because it's insurance, but they typically will come in for a shorter stay. Digital nomads are typically— they're going to come in for a couple months, and so we're typically going with what the advertised price is. And I do have an MTR calculator in the course. You basically— you're looking at comps, right? You're seeing what's available, right? And there's all kinds of ways to do it, but go to Furnished Finder, that's on the lower end. Go to Airbnb and see what's available and just— it's kind of like if you flipped a house, you're looking for comps, or even long-term, right? We go look at comps and we decide, like, we want to be apples to apples, right? What's a similar property? Um, so there's a lot that goes into it. There's no— I wish there was one site to go to, to, you know, find your ideal midterm price, right? Um, it's kind of an art and a science, and I do in the course teach you how to kind of market tasks in a very specific way to even get booked before you have, you know, even any— a lick of furniture in there. So that's what I love doing, so I can really test the pricing and get a booking before I've even furnished it. So, um, yeah, really good question. Hey, thanks for just joining. Um, yeah, we're just talking midterms here and insurance. There's, I mean, it's, this is all simple, right? But I feel like the benefit of having a course or a coach is I really unpack all this stuff and you have someone to ask questions to. But, um, yeah, there's just a lot that goes into the different kind of avatars. If it's, you know, if it's insurance, it's a lot more complicated. There's a lot more parties involved. Involved. Um, just to recap, like I just placed a family in a property for, you know, a $9K booking for 4 months and they're likely to extend versus a digital nomad or a nurse. It's generally, it's just one party. It's a lot more, it's a lot simpler. It's a lot more direct. There's less parties. There's no approval required. Right. And they typically don't want to see the property ahead of time. Um, so yeah, that's as much as I can kind of get into high level. I hope that helped. Um, but I— there's just— you don't need a lot of midterms to have a small but mighty portfolio, right? And there's this phrase, money loves speed. So the quicker you can learn to respond to your leads and be really proactive, pick up the phone, call people, text them, it's just really helpful. And because people are going to move on quickly and, you know, they're looking at different properties, so the more responsive you are, the more you have all your paperwork together, your leases and your proposals, the quicker you can kind of move things along. Um, so, uh, yeah, Bonnie is saying yes, she's converted all but one, uh, short-term rental to MTR, which is awesome. So Bonnie, if you want to chime in, like, any of your numbers, like, that'd be awesome because I, I know that you're doing— I think you had some of yours managed too, and you've kind of— you're self-managing. I teach that as well. I think because there's so little turnover, um, sorry, the lights are like glaring at me, I'm getting hot in my sweater. Um, they're just— it's really easy to self-manage, and we're often getting these like great leases like for, you know, sometimes it's 2 months, sometimes it's 4, and then there's extensions, right? So if you were paying someone, typically, um, it's hard to find someone that's really focused on midterm that understands the insurance niche. People are out there and they're certainly doing it, but it's definitely a niche like within a niche, and it's typically about 20%, right? So that's a pretty big chunk of your revenue. And if you can do it yourself, it's not that hard. No one's going to care about your property like you do. Um, so once you get it figured out, you're going to make a lot more money. You can use that to reinvest, right? Um, so I'm a big fan of self-managing with the right tools and software, right? That's like super important. We don't want to just, you know, collect rent on Venmo or something and not have the right leases in place and the right management software. That's like super important. So, um, it's all about tools and processes, um, and having that recipe. So any other questions? I'm so sorry that you— I— the Facebook thing did not work tonight. I was just not happy. I don't know why. But yeah, any other questions? I'm happy to answer them. I see a few more people on. And if anyone's— I don't know where everyone is. I'd be curious to know. I'm based in Portland, Oregon, so it's, you know, fairly expensive market considering for real estate investing, right? But to me, a strategy like midterm works really well in an expensive market because we can make things cash flow that we couldn't always with like a long-term strategy, right? So yeah, that is, um, that's where I'm located. Yeah, I'd love to know if anyone got value from this. Please chime in. It also kind of lets those algorithms know that this is popular content. We need those algorithms to like us, right? So, so that, that way it'll show it to more people. Um, yeah. And if you guys are interested in talking more, learning about the coaching programs, feel free to reach out, book a call. Happy to chat more about that. This is my favorite topic. Um, so I— Bonnie is— thank you, Bonnie. Bonnie says, yes, I'm receiving 2x long-term rental amounts. Also self-manage more properties as time goes on, and my confidence builds thanks to me. Well, Bonnie, thank you. That's awesome. 2x, right? That's, that's major, right? When you think about rental income and how we can scale and reach our financial goals. So I love that Bonnie is totally taking all the action. It's awesome. Um, Caitlin is saying, have you had any damage from cats? I love dogs but a little hesitant. Yeah, you know, everyone seems to have thing about cats, I don't— I, I'll be honest, yes, cats can scratch, they can pee on things, but I've had more issues with dogs peeing on carpets. I don't love carpet, but so frankly, I, I allow pets. Um, there's some things you can do, like, and I had this in the course, like, you know, get a couch cover for your couch. It keeps the hair off, it keeps the scratching at bay. Um, someone said there's like a pheromone plug-in thing. I've had a lot of cats and they've been pretty good. I think, I think it comes down to are the pet owners responsible, right? If you're screening right and you're attracting high-caliber guests, typically I have not had any— like, never say never, right? And the other thing I think we have to keep in mind is, especially for insurance, you know, these are not renters, they're homeowners. And even traveling nurses, they often travel with cats or a dog, and so they are part of your family, and you're going to miss out on a huge amount of leads if you don't allow pets. So just protect yourself, charge the right— what would make you comfortable? What kind of pet fee would make you comfortable? Um, what kind of pet fee, what kind of pet deposit, right? So you can cover those damages. But yeah, people are— maybe I have a big cat thing coming up, but everyone's concerned about cats, and I, I'm, I'm okay with cats. I've even— even with insurance, you have— you'll get requests for like chickens. I've had a duck, right? Because they're homeowners, right? They're not expecting to have to go rent something. So really good question. I love cats and dogs. Um, there's certain breeds I don't allow for insurance reasons, but I typically don't have like a certain weight restriction. And with single family, right, that's not so much. I think with multi it's more weight, it's more of an issue because of noise and stuff. Um, so good question. Um, yeah, cats, I allow cats. Um, Christina is asking, how would you suggest changing STR to an MTR for future bookings? Would you just block bookings for a certain day? Christina, I love that question. Um, there's a little bit of nuance to it, right? I think I think, you know, MTR and STR are very similar. STR being like an Airbnb, right? Midterm being 30+ day stays. So, um, I cover this in the course, but essentially the issue, if you're doing like that hybrid strategy, if you're booking, if you have your— let's say you have an Airbnb listing, right? You're listing it, it's very much vacation focused. The first problem is we're not really— it's very vacation focused and we're not optimizing for the midterm avatar. There's certain ways we do that and we cover that in the course, but essentially we're saying like flexible stays, right? And it's, it's not someone there on vacation. The other issue is calendar management. If we have spotty bookings on our calendar, right? Say we booked a month out and we just have like one weekend booking, right? And someone's looking for like a 2-month stay starting like tomorrow, right? You're not gonna show up on their calendar. So there's a strategy we talk about in the course. It's the duplicate listing strategy. So I would recommend you keep your bookings pretty tight and then optimize for midterm. But that's something that's a more advanced strategy because it's hard to do if your calendar is not open because you will not show up in search results. So that's a really good question. Yeah. But that's, that's kind of the workaround for that. Right. And then there's different platforms that you're on for midterm, right? So, and I think if you can do the hybrid strategy, you fill in your gaps with short-term and then you kind of optimize for those midterm bookings to give yourself a break. I mean, I remember when I had short-terms and I got like a 2-month booking and It was such— it was like so nice to not have those constant— even though we had cleaners and a co-host, it was like, oh wow, this is really nice. We got a 2-month booking. So sometimes you get lucky, but you won't get lucky if your calendar isn't optimized in the right way. So that's, that's super important. Um, but yeah, really good questions. Any other questions? Oh, Shannon, you're so welcome. Thanks for tuning in. I'm glad this worked on other platforms and usually just Facebook, but I mean, I just had to go with it because Facebook was not cooperating. Any other questions? I see a few more people on. Just type your questions and I'm happy to answer them. I'm going to share some links too here if you guys are interested, um, in the course or want to book a call with me to see if it's a good fit. I do have a 20% off thing right now. We do cover all of these things, you know, how to optimize for midterm, how to do that, you know, um the hybrid strategy. If you are, if you are doing some short-term and so you want to focus more on midterm, um, the other course I have is the MTR Essentials course, and that is really for someone that just needs that recipe, doesn't need so much coaching. And then I'll drop a link in to book a call with me if you're, you know, interested in figuring out what might be the right fit. No pressure, if it's not, no worries, but sometimes you just want to talk to someone to see what the right fit is. And so I'm going to drop that link in here. Um, let's see, event types. I just gotta pull up my Calendly link. Let's see, I did open some more spots up for the weekend. I can't talk anymore, um, because I'm pretty booked this week, but I will, um, yeah, I'll just drop this over. So feel free to book a call if you have any. Yeah, you're so welcome, Christina. Um, yeah, any other questions? I see people hanging on. So anything's fair game, no silly questions. We're always learning. But thanks for taking the time to join me. I know it's late and, um, we're just kind of wrapping up here. But if anyone's like watching the replay, like, feel free to leave a comment. Just if you got some value out of this, I super appreciate you letting me know. Again, this is Shona from She's Got Assets. I do weekly live streams on Tuesdays at 5 typically. Sometimes things come up. I try and be pretty consistent. Um, it's usually live in Facebook too. Tonight it was not in the stars. So I just went live on Instagram, on YouTube. I thanks you guys for joining. I really appreciate it. Um, any— I'll give you guys any other questions, anything's game. I, I see some, a few more people on, so, um, you don't hang up. Okay, well then I'll be the first to hang up. I appreciate it. Okay, you guys, if you're watching the replay, feel free to chime in. I'll get back to you. Um, again, have a great Tuesday evening, and I will talk to you soon.