Get passive income through short term rentals, and decide if you’re cut out for managing it yourself. If managing properties fills you up, you’ll learn how to build a management business. If it doesn’t, you’ll learn how to hire the right one. Airbnb, VRBO, STR, whatever name you know it by, you can make property management a good endeavor and be fulfilled while keeping the booking calendar filled as well. I’m Mark McDaniel. I’m not a real estate agent. I knew nothing about property management when my partners and I sold an IT company in 2015. I bought a 4 bedroom vacation rental in Tennessee’s Great Smoky Mountains – with an indoor pool and what feels like a hundred mile view. But I quickly learned the way my first property manager worked, didn’t work for me. The second, third, and fourth were significantly…no better. With the idea of being a passive real estate investor now out the window - that 100 mile window - I applied my key principles and unlocked the secret to maximizing the value of rental properties, keeping the calendar full, and being satisfied and fulfilled by my work. The techniques you’ll hear on The Good Endeavor Short Term Rental Show can be applied to any business, but they sure do make short term rentals more enjoyable for the host, more enjoyable for the guests, and more profitable for the owner.
Imagine transforming a family business into a thriving franchise empire; that's the story of Brian Beers, the mastermind behind a multi-million-dollar automotive legacy. Brian joins us to unpack the pivotal moments and strategies that catapulted his family's modest enterprise into a powerhouse with 33 locations. If you've considered buying a franchise, this episode is for you.From helping you understand the advantages of acquiring existing franchises, the role of seller financing, and the value of community involvement within the franchise network -> to providing you insights into effective hiring practices, compensation models, and debunking the misconception of inherent profitability in franchises – this episode is PACKED with franchise insights you don't want to miss out on.Topics Covered:09:35 From small business owner to $50 million in revenue12:07 Do all franchises have a playbook on how to be successful?18:12 Should you hire an operator from the start?22:07 Owner finance deals selling points and benefits26:23 Why some people make it and others don't32:15 From 0 to 21,000 social media followersAnd more!About Brian Beers:Podcast - Business with Beers https://podcasts.apple.com/us/podcast/business-with-beers/id1562821011 Twitter - https://twitter.com/brianbeers Connect with Bobby Herrington:Instagram: https://www.instagram.com/bherringtonruns Website: www.205endurance.com Facebook: https://www.facebook.com/bobby.herrington.792 Connect with Mark McDaniel:Website - https://staysimpli.com/Instagram - https://www.instagram.com/staysimpli/Facebook - https://www.facebook.com/people/Staysimpli/100088214988017/Twitter - https://twitter.com/staysimpliTikTok - https://www.tiktok.com/@staysimpli
Have an interest in a side hustle and some capital to play with? Have you considered the Car Washing business?If so, Kriss Berg, The Car Wash Guy, has got some tips for you. After many failed attempts in the storage business, Kriss decided to buy a car wash business that was underperforming due to lack of attention and upgrades from the previous owners.Small but significant tweaks ranging from adding it to Google Maps to changing the attitude of attendants to focus more on customer experience was all it took to grow revenue and profits by 70% in 6 months, providing a very high return on investment.Join Mark, Bobby, and Kriss on this episode of The Good Endeavor Show to learn more about car washes, their tax benefits, how to recoup your investment quickly, and more.Topics Covered:03:23 The Car Wash Guy Intro05:20 Are car washes being overbuilt?08:06 Is a Car Washing business really passive?13:01 Car Wash software options15:49 IRS Tax benefits for a Car Wash business18:06 Why Car Washes are such a great investment23:07 Tips for your businessAnd more!Connect with the Car Wash GuyTwitter/ X : https://twitter.com/KrissBergTweets Email: krissbergethon@gmail.comOnline Course: www.TaxFreeCashCow.comConnect with Bobby Herrington:Instagram: @bherringtonrunsWebsite: www.205endurance.comFacebook: https://www.facebook.com/bobby.herrington.792Connect with Mark McDaniel:Website - https://staysimpli.com/Instagram - https://www.instagram.com/staysimpli/Facebook - https://www.facebook.com/people/Staysimpli/100088214988017/Twitter - https://twitter.com/staysimpliTikTok - https://www.tiktok.com/@staysimpli
It's a crazy story that involves a little bit of luck and a whole lot of smarts.Mark and Bobby sit down with Bodhi, the Dumpster Rental guy, a young entrepreneur who was able to not only purchase an existing dumpster rental company but more than double its revenues in just a few years. Through strategic digital marketing and an emphasis on relationships, Bodhi has dominated his local market and built a lucrative side business in SEO.Listen in as Bodhi shares invaluable insights into finding acquisition opportunities, strategies for leveraging SEO, Google ads, and social media to generate massive growth, and avoiding costly mistakes.In This Episode:00:00 Intro - Getting into the Dumpster Rental business04:40 SEO recommendations for service businesses07:30 Low-hanging fruit and when to outsource12:31 Dumpster Rental operation numbers19:50 What you need to get into Dumpster Rentals25:58 Bodhi's keys to success40:45 Are Google Ads worth it? Leveraging Google LSAS's insteadAnd more!Connect with Bodhi, the Dumpster Rental Guy:https://twitter.com/irentdumpsters https://stryker-digital.com/ Connect with Bobby Herrington:Instagram: https://www.instagram.com/bherringtonruns/ Website: https://www.205endurance.com/ Facebook: https://www.facebook.com/bobby.herrington.792 Connect with Mark McDaniel:Website - https://staysimpli.com/Instagram - https://www.instagram.com/staysimpli/Facebook - https://www.facebook.com/people/Staysimpli/100088214988017/Twitter - https://twitter.com/staysimpliTikTok - https://www.tiktok.com/@staysimpli
Podcast Update: The Good Endeavor Short-Term Rental Show is expanding with the addition of a new host, Bobby Herrington, and new topics within the entire scope of business (not just short-term rentals). Updated artwork and title coming soon.In this episode:Even the most successful innovators and companies have experienced many failures along the road to success. From Thomas Edison testing thousands of materials for the lightbulb and Dyson going through over 5,000 prototypes, it's clear that failure is both necessary and inevitable.So why are we so afraid of failure? If you're experiencing some of this fear today, Mark and Bobby have the strategies you need for shifting your mindset to separate a single failure from identifying yourself as a failure. Viewing failure as an opportunity to gain experience and knowledge is what distinguishes the successful entrepreneurs we all look up to so share this with a friend who might need to hear this today.Topics Covered:00:00 Failing Forward00:50 Examples of heroic failures03:05 Where the fear for failure starts05:30 The failure identity08:08 Using failure data to learn 13:45 If this fails, I am a failure33:15 Changes for The Good Endeavor Business ShowAnd more!Resources MentionedRelentless by Tim Grover - https://a.co/d/h4TiX4x Amazon Unbound - https://a.co/d/chULdX4 Connect with Bobby Herrington:Instagram: https://www.instagram.com/bherringtonruns/Website: https://www.205endurance.comFacebook: https://www.facebook.com/bobby.herrington.792Connect with Mark McDaniel:Website - https://staysimpli.com/Instagram - https://www.instagram.com/staysimpli/Facebook - https://www.facebook.com/people/Staysimpli/100088214988017/Twitter - https://twitter.com/staysimpliTikTok - https://www.tiktok.com/@staysimpli
The New Year is rolling in and you know it's time to take action in setting goals and navigating success. In this episode, Mark and Bobby will be coaching you on creating a vision for where you want to go and then mapping out practical steps to get there. The key is to start small with achievable daily tasks and surround yourself with mentors who can provide guidance and shortcuts.Metrics are a helpful part of goal setting for measuring your progress, but don't get discouraged if things aren't perfect. Both successes and so-called failures provide learning opportunities. Just start taking action - you'll learn more by doing than by avoiding risks.In This Episode:00:00 Intro - Practical steps to navigating success02:30 Goal setting from zero04:50 Reverse engineering your vision10:45 Grow confidence in yourself through a clear vision15:00 The easiest, repeatable next step28:20 Using metrics to keep you on track to success33:15 When bigger steps are the better optionAnd more!Connect with Bobby Herrington:Instagram: https://www.instagram.com/bherringtonruns/Website: https://www.205endurance.comFacebook: https://www.facebook.com/bobby.herrington.792Connect with Mark McDaniel:Website - https://staysimpli.com/Instagram - https://www.instagram.com/staysimpli/Facebook - https://www.facebook.com/people/Staysimpli/100088214988017/Twitter - https://twitter.com/staysimpliTikTok - https://www.tiktok.com/@staysimpli
Bobby is back on the show for part 2 of a Leadership series all about succeeding at work and in life.Today, Mark and Bobby are talking about stepping into your creative genius. What is creative genius? It's that intersection between your passion, your wiring, and your skillset that together brings the best version of yourself into the world.Learn practical tips for discovering your creative genius, such as creating space for quiet reflection and writing down your strengths, and embracing your authentic self and surrounding yourself with people who compliment your gifts. In This Episode:00:00 Intro - Stepping into Your Creative Genius02:39 Understanding Your Zone of Genius05:43 Practical Tips for Discovering Your Creative Genius09:43 Balancing Imagination and Reality12:13 Small Steps to Tap into Your Creative Genius20:09 Tools and Pathways for Discovering Your Creative Genius34:37 Building a Team Around Your Creative GeniusAnd more!Resources MentionedThe Ruthless Elimination of Hurry- https://a.co/d/2P0quUI Connect with Bobby Herrington:Instagram: https://www.instagram.com/bherringtonruns/Website: https://www.205endurance.comFacebook: https://www.facebook.com/bobby.herrington.792Connect with Mark McDaniel:Website - https://staysimpli.com/Instagram - https://www.instagram.com/staysimpli/Facebook - https://www.facebook.com/people/Staysimpli/100088214988017/Twitter - https://twitter.com/staysimpliTikTok - https://www.tiktok.com/@staysimpli
Did you know that you can plan momentum into your future? It's called the flywheel effect.The concept of a "flywheel" came from the book Good to Great: Why Some Companies Make the Leap...And Others Don't by Jim Collings. It refers to creating a strategy that gains momentum over time through consistent execution and reinvestment.The key to an effective flywheel is identifying the core driver that will propel it forward, like the guest experience for a short term rental business. But once you know the core drivers, you also need to be mindful of how you're feeding the flywheel for continued growth, such as reinvesting profits.Bobby Herrington, Pastor, Ultra Marathon Coach and STR business owner, joins Mark today on the show for part 1 of a series on Leadership and the various ways in which it affects your business and life.Tune in to understand how developing a strategic flywheel plan tailored to your specific goals and strengths is key to achieving sustainable success. And to adjust your vision to push you through even the toughest of challenges.In This Episode:00:00 Intro01:26 What is a Flywheel03:55 Flywheel strategy and what to do with profits10:46 Why you need a vision for your flywheel to work18:21 Using self awareness to design a flywheel for your lifeAnd more!Resources MentionedGood to Great by Jim Collins - https://a.co/d/6JrApvt Connect with Bobby Herrington:Instagram: https://www.instagram.com/bherringtonruns/Website: https://www.205endurance.comFacebook: https://www.facebook.com/bobby.herrington.792Connect with Mark McDaniel:Website - https://staysimpli.com/Instagram - https://www.instagram.com/staysimpli/Facebook - https://www.facebook.com/people/Staysimpli/100088214988017/Twitter - https://twitter.com/staysimpliTikTok - https://www.tiktok.com/@staysimpli
Ever wonder how some people get from 0 to 7 figures so quickly?Well, it comes down to how they position themselves against their competition. And that requires unique strategies.Madeline Rayford-Holland, founder of luxury property management company MHM Properties, is on the show today to share some of those unique strategies and how she has grown into seven figures in just a couple of years through a focus on elevated guest experiences.It's a fascinating case study on quickly building a successful short-term rental business from the ground up and will reveal ways to make money you've never even thought of.If this is an area you've recognized that you need support on, make sure to stick around until the end to learn about Madeline's coaching program. In This Episode:00:00 Intro01:10 Creating social media content from pain points and questions02:40 Using videos to stand out in a crowded market08:00 Boost direct bookings by leveraging social media15:48 Upsells and affiliate marketing with a virtual storefront19:50 Coaching with MadeleineAnd more!Connect with Madeleine Raiford-HollandInstagram - https://www.instagram.com/madeleineraifordholland/ Connect with Mark McDaniel:Website - https://staysimpli.com/Instagram - https://www.instagram.com/staysimpli/Facebook - https://www.facebook.com/people/Staysimpli/100088214988017/Twitter - https://twitter.com/staysimpliTikTok - https://www.tiktok.com/@staysimpli
Obviously, we talk about short term rentals on this show. But is short term rental your only option? Today we have Chris Seveney, founder and CEO of Seveney Investments, to discuss alternative investment opportunities beyond short term rentals. Chris has over 25 years of experience in real estate and now specializes in buying non-performing mortgage notes.Chris shares the ins and outs of how his fund acquires distressed loans at deep discounts and works with borrowers to become performing again. For passive investors, he outlines the tax benefits and targeted returns of 8-10% annually by investing in a diversified portfolio of these rehabbed loans. Chris also discusses the due diligence process and risk management strategies to protect investors.Make sure to stick around until the end to find out how you can learn more about note investing or potentially become an investor with Seveney Investments. As always, thanks for listening and don't forget to subscribe so you never miss an episode of The Good Endeavor Short Term Rental Show.In This Episode:01:30 What is Note Investing?05:05 Acquiring Distressed Loans06:43 Rehabbing Borrowers 09:40 Returns for Investors12:28 Tax advantages for investing in Notes 15:20 How long has Chris been involved in Note investing?18:15 Understanding what Note Investors want21:08 Crunching the numbers on a Note investment26:40 Should lenders get a bad rap?And more!Connect with Chris SeveneyEmail - chris@7einvestments.com Website - https://7einvestments.com/Instagram - https://www.instagram.com/7einvestments/Connect with Mark McDaniel:Website - https://staysimpli.com/Instagram- https://www.instagram.com/staysimpli/Facebook- https://www.facebook.com/people/Staysimpli/100088214988017/Twitter- https://twitter.com/staysimpliTikTok- https://www.tiktok.com/@staysimpli
Our guest today Rachel knows firsthand what it's like to struggle financially. Coming from Haiti with nothing, she worked her way through medical school and climbed out of debt using real estate. Now she owns 18 luxury vacation rentals!But it's not just about the money for Rachel. She's discovered a way to generate $16k/month helping families displaced by disasters through mid-term rentals. Insurance pays top dollar to house families for months at a time while their homes are repaired.Rachel shares her step-by-step process for tapping into this lucrative opportunity. From networking with insurance agents to selecting the right properties, you'll learn how to turn a family's misfortune into your fortune - all while providing an important community service.She also reveals which amenities like pet friendliness can supercharge your bookings. Discover how Rachel turned one rental into a $16k/month payday and built a business helping others. Get inspired to profit from your properties and make a positive impact at the same time!In This Episode: 2:05 About Rachel13:20 First home purchase15:52 Getting into mid-term market19:50 Insurance Company - Tapping into Temporary Housing Allowance28:01 Two top amenities that drive revenue33:31 Long Term Rates vs Mid Term Rates and occupancy43:25 Rachel's course on Mid Term RentalsAnd more!Connect with Steve Class:Instagram - https://www.instagram.com/steveyclass/ Website - https://www.newenglandpropertymanagementllc.com/about Connect with Mark McDaniel:Website - https://staysimpli.com/Instagram- https://www.instagram.com/staysimpli/Facebook- https://www.facebook.com/people/Staysimpli/100088214988017/Twitter- https://twitter.com/staysimpliTikTok- https://www.tiktok.com/@staysimpli
There are certain things that will happen to us in life that will completely change the trajectory of our futures. For Steve Class it was finding out his dad was in the Italian Mafia and was going to prison. Their family went from glitz to welfare almost overnight when Steve was only 12 yrs old.That ignited Steve's fiery passion to never end up in a position like that again.But life happens and here he was facing unemployment in the midst of COVID's wake."Nothing's gonna kick you in the butt like having a little one on the way, mortgage you still gotta pay, and all these bills that are still coming at us." ~ Steve ClassAnd now, he's on the show to talk about his passion for helping people to build multiple successful businesses. Steve is the President and Co-Founder of the multi-million dollar company New England Property Management.His approach of asking the right questions and focusing on service has led to tremendous success. Steve has grown his property management company to over 100 doors, and built additional maintenance and brokerage divisions. His advice on systems, marketing and onboarding will be so valuable for any business owner.Whether you manage a few units or want to start your own company, this episode is for you.In This Episode:0:00 Intro2:05 About Steve Class (The Mafia story)6:29 Focusing on pain points13:06 Using dark times as motivation14:08 Noticing and capitalizing on opportunities20:05 Leveraging a CRM22:50 Serving like a Samurai25:07 Avoiding thinking of it as Sales29:46 Steve's Coaching business34:33 Being strict on your ideal customer/avatar39:07 Becoming 1% betterAnd more!Connect with Steve Class:Instagram - https://www.instagram.com/steveyclass/ Website - https://www.newenglandpropertymanagementllc.com/about Connect with Mark McDaniel:Website - https://staysimpli.com/Instagram- https://www.instagram.com/staysimpli/Facebook- https://www.facebook.com/people/Staysimpli/100088214988017/Twitter- https://twitter.com/staysimpliTikTok- https://www.tiktok.com/@staysimpli
BONUS: Listen till the end for a FREE gift!
Don't be the guy on your deathbed looking back at your life with regret.That's what motivated Jeff Chisholm, a seasoned mortgage expert, to embark on a journey to find the best investment opportunity. With his family values and faith driving him, Jeff came across short term rentals.Their investment journey took an unexpected turn when Jeff discovered a hidden gem—a 10% down, second-home occupancy loan. This financing solution offered incredible potential for real estate investors, but the mainstream mortgage industry had made it less accessible.Determined to share this opportunity, Jeff became an educator and advocate for fellow investors. He not only provided financing but also secured better rates and fees, helping clients fulfill their dreams.In a market full of challenges, Jeff thrived, proving that seizing opportunities, even during high-interest rate periods, was the key to success. Today, he continues to be a trusted advisor and educator in real estate financing, showing that hidden opportunities are often waiting for those who take action. "Investors understand that interest rates are temporary, but the opportunity to get a deal at today's prices doesn't last for very long."" ~ Jeff ChisumIn This Episode:How investing in short-term rentals can change your kid's perspective of youHow rising interest rates have created new opportunities for investors to find good dealsHow unique lending products allow for good business even as the overall mortgage market is downAnd more!Connect with Jeff Chisum:Website: https://strhomefinancing.com/ Connect with Mark McDaniel:Website - https://staysimpli.com/Instagram- https://www.instagram.com/staysimpli/Facebook- https://www.facebook.com/people/Staysimpli/100088214988017/Twitter- https://twitter.com/staysimpliTikTok- https://www.tiktok.com/@staysimpli
What lessons can we learn about hospitality from an examplar of servant leadership? Brian Slipka is the CEO and Founder of True North Equity Partners and together with our host Mark McDaniel, they are drawing parallels between their respective industries and offering the rest of us insight into how to go about doing good business. Through his company True North Equity Partners, Brian oversees 29 businesses, ranging from manufacturing and distribution to packaging and transportation (there's even a sports division!) and so he's uniquely positioned to provide a macro view of the economy and the trends he sees emerging in these challenging economic times.Learn about why the winners will be those who are still in the arena, what 'flight to quality' means, and why you should choose smart money over cheap money in an episode of The Good Endeavor Short-Term Rental Show that will have you thinking out the box about your short-term rental business. It helps that Brian and Mark are old friends so the conversation flows freely as they riff on the paradox of feeling better selfishly when you help other people selflessly, and how keeping the end in mind is always so very important. There are lessons to be learned aplenty for eager real estate entrepreneurs! Please join us."Be vulnerable. Surrender the outcome. Do the work. If you do those things in that order it's amazing how life sort of comes together. And across all of that is surrendering this notion of selfish ambition." ~ Brian SlipkaIn This Episode:Understanding the cultural element that drives the heartbeat of AmericaAppreciating the role that small businesses play in the US economyUnderstanding the role of stewardship when you by an operating companyWhat is 'Flight to Quality'?Smart money over cheap money: shrewd investments in tough economic timesWhy having a strong company culture is so importantThe paradox of helping other people to help yourselfAnd more!Connect with Brian Slipka:Website - https://www.truenorthequitypartners.com/Personal Website - https://www.slipka.com/Connect with Mark McDaniel:Website - https://staysimpli.com/Instagram- https://www.instagram.com/staysimpli/Facebook- https://www.facebook.com/people/Staysimpli/100088214988017/Twitter- https://twitter.com/staysimpliTikTok- https://www.tiktok.com/@staysimpli
In a world craving independence and flexibility, so many of us yearn for something more than the conventional 9-5 grind.But the idea of entering the short-term rental market can seem so daunting. It requires investing time, money, and effort into something that you're just not sure is going to succeed.That was the case for Avery Carl, who just wanted to find a way to avoid keeping her kids in daycare all day just because of her job constraints. This was way before there were hundreds of podcasts and YouTube videos and courses on the topic too. She's now the trailblazing entrepreneur and real estate investor who helped boom the Short Term Rental concept and industry as a whole. Little did she know, a single house purchase in her hometown would unravel a path towards herOn today's episode, she shares valuable insights into the industry's evolution and why there still a lot of opportunity in up and coming markets for new investors looking to get in on the action."We stayed in a cabin there, so did everybody else. Somebody owns these cabins. Why can't that be us?" - Avery CarlIn this episode:Avery's journey from corporate jobs, to Music Marketing, to Short Term RentalsResources for funding your STRShort Term vs Long Term Rentals - the shifting marginsThe Evolution of the Vacation Rental Market; COVID's impactAnd more!Connect with Avery CarlInstagram - https://www.instagram.com/theshorttermshopFacebook - https://www.facebook.com/theshorttermshopWebsite - https://theshorttermshop.com/Connect with Mark McDaniel:Website - https://staysimpli.com/Instagram- https://www.instagram.com/staysimpli/ Facebook- https://www.facebook.com/people/Staysimpli/100088214988017/ Twitter- https://twitter.com/staysimpli TikTok- https://www.tiktok.com/@staysimpli
What if there was a tool that crunched specific Short Term Rental data, allowing you to determine the best and most profitable area to invest in? STR Insights is just that tool, allowing thousands of investors to find a profitable short-term rental that also meets their investment criteria.Kenny Bedwell is the brainchild behind STR Insights and he's sharing his story with us today on how he came from a background in finance and understanding data analytics to arrive at a place where he knew that he should take the entrepreneurial leap of faith with the data-driven software he had developed for vacation real estate investing. From property finding to property analysis, it seems difficult to imagine investing in property nowadays without a tool such as STR Insights. Learn all about Kenny's application of a tool that will allow you to confidently discover cash-flowing short-term rentals by assessing the data – and not relying on local word of mouth! This is a fascinating episode of The Good Endeavor Short-Term Rental Show that will help you grow your investments if you have property already, or give you the confidence to start if you are new to the STR industry. Please join us. "What's the best bedroom count to invest in? Is it 3 bedrooms, 4 bedrooms, 5 bedrooms? It's never linear. Revenue is not linear. Demand is not linear either so therefore there's gonna be better bedroom counts – so markets are saturated. And you're gonna see that in the data, so the ROI will be less." ~ Kenny BedwellIn This Episode:How Kenny got started in data analytics and then moved into STRsUnderstanding the STR Insights tool and how it can help you invest wiselyLearning how to decode property data appropriately as a new investorKenny's Rule of Thumb for finding deals (profitable properties)Kenny's advice for first-time owners and ways to finance dealsAnd more!Connect with Kenny Bedwell:Instagram - https://www.instagram.com/kenny_bedwell/Website - https://www.strinsights.com/Connect with Mark McDaniel:Website - https://staysimpli.com/Instagram- https://www.instagram.com/staysimpli/Facebook- https://www.facebook.com/people/Staysimpli/100088214988017/Twitter- https://twitter.com/staysimpliTikTok- https://www.tiktok.com/@staysimpli
What are you doing to differentiate your short-term rental property? From bowling alleys to solar panels, Cabins For You's Kevin Vozar is sharing his ideas on what it takes to stand out in an increasingly saturated STR market.As Kevin candidly puts it, if the property bubble hasn't quite burst yet, it's certainly leaking. And there are no guarantees that investing in a short-term rental property is going to guarantee great returns — unless you work out not only what will set you apart, but also how much time you need to put in yourself. And here Kevin is offering the advice that our host Mark McDaniel has mentioned in previous episodes too around understanding if it's better to have a property management company do a lot of the hard work for you. What makes this episode of The Good Endeavor Short-Term Rental Show so darned good is that Kevin, as the Senior Director of Owner Relations and Business Development at Cabins For You, has been around a while. And so he's warning against the non-accredited investors recommending fractional ownership, and he's asking you to think carefully before taking that leap of faith, while also still remaining bullish about the short-term vacation rental market. Please enjoy this industry 'giver' offering up a ton of valuable real estate insight! Please join us! “There's no guarantees owning a short-term vacation rental property. Regardless of what our friends in real estate say, there are no guarantees that you are going to get the rate of return that you are looking for. ~ Kevin VozarIn This Episode:Understanding the inherent risk in any investment, including STRsThe value of being a relationship builder in the real estate marketWhat to look out for in terms of other people's adviceHow to calculate your time investment before committing to a new propertyWhat's your WOW factor? Standing out in a saturated marketAnd more!Connect with Kevin Vozar:Cabins For You Podcast - CFY Podcast | Podcast on SpotifyE-mail - kvo@bellsouth.net Connect with Mark McDaniel:Website - https://staysimpli.com/Instagram- https://www.instagram.com/staysimpli/Facebook- https://www.facebook.com/people/Staysimpli/100088214988017/Twitter- https://twitter.com/staysimpliTikTok- https://www.tiktok.com/@staysimpli
What does it look like to teach investors to build wealth through real estate – and do that at scale? Ryan Bakke is behind the hugely popular and influential 'Learn Like a CPA' and as a Certified Public Accountant himself he brings a wealth of knowledge to the real estate arena. In today's episode of The Good Endeavor Short-Term Rental Show, Ryan is impressing upon our host Mark McDaniel that his good endeavor is not just about making a difference – but making a difference at scale. So Ryan is more than willing to share his innovative ideas and insights into the short-term rental space so that it will help others.Learn about measuring your ROH (Return On Hassle) – something we can all relate to when we find ourselves rushing about trying to maintain a property – and discover Ryan's three key strategies for evaluating a potential short-term rental deal. There's also a fresh perspective and some number crunching on the alternative real estate investment space that is campgrounds and RV parks – so stick around for that exciting real estate opportunity too! It's all well-intentioned content to help you up your short-term rental game on The Good Endeavor Short-Term Rental Show. Please join us! "At the end of the day, you have to find out what your purpose is, in business. Because if you're just chasing and driving for profit, that's where your morals are gonna fall." ~ Ryan BakkeIn This Episode:Unpacking Ryan's combined strengths as a CPA and real estate advisorRyan's 3 Key Things to look out for in a short-term rental dealUnderstanding Risk Mitigation Unpacking 'ROH' - Return On Hassle'What is Lifestyle Creep?Are campgrounds a good real estate investment? And more!Connect with Ryan Bakke:Instagram - https://www.instagram.com/learnlikeacpa/?hl=enFacebook - https://www.facebook.com/groups/taxstrategyforinvestors/Connect with Mark McDaniel:Website - https://staysimpli.com/Instagram- https://www.instagram.com/staysimpli/Facebook- https://www.facebook.com/people/Staysimpli/100088214988017/Twitter- https://twitter.com/staysimpliTikTok- https://www.tiktok.com/@staysimpli
Where do you when you've made your first million dollars at age 23? The sky is the limit if your heart is in the right place and you believe that you are destined for great things, as it turns out. ake Rocha is Mr. Four To Eight, an Airbnb entrepreneur, and coach with a $17M portfolio who is absolutely crushing it. Blake is in conversation with The Good Endeavor Short-Term Rental Show's Mark McDaniel – and what an inspiring conversation it is! Hear all about Blake's origin story and how he grew up believing that he would be a successful entrepreneur. Marvel at Blake's positive mindset as he overcomes a life-threatening illness and how he saw opportunity while everyone else was standing still during the lockdown. Learn from Blake's insights into the short-term rental game and why you should never buy a house with a pool on the roof!This is a game-changing lesson in what it takes to buy back your time from a young age when the clock is seemingly ticking against you. Please join us on a journey into real estate ambition with a whole lotta heart! "There was never a moment where I did not believe that I was going to be one of the most successful people in the world." ~ Blake RochaIn This Episode:Blake's childhood and what drove him to entrepreneurshipThe importance of mentorship and owning your destinyHow Blake overcame a life-threatening illnessSeeing opportunity and staying optimistic during the lockdownTwo of Blake's earliest property deals: what went right and wrongBlake shares on his property ambitions and goal of helping peopleAnd more!Connect with Blake Rocha:Instagram - Blake Rocha (@mrfourtoeight) • Instagram photos and videosConnect with Mark McDaniel:Website - https://staysimpli.com/Instagram- https://www.instagram.com/staysimpli/Facebook- https://www.facebook.com/people/Staysimpli/100088214988017/Twitter- https://twitter.com/staysimpliTikTok- https://www.tiktok.com/@staysimpli
How do you scale your business as a property management company by bringing on new clients while maintaining good relationships with your existing ones? Tyler Botsford is the brains behind VR Connect, a Customer Relationship Management (CRM) tool that is helping vacation rental property managers get new owners as well as more direct bookings to their business every month.How much could your property management business grow if you weren't relying on referrals and direct mailers? Well, there's a new way to bring new properties into your inventory, and in this property management masterclass Tyler is teaching us the tricks of his CRM tool that can help you generate new owner lead opportunities every month.There's a ton of useful information on how to auto-populate five star reviews, stick to a marketing strategy once you've decided on one, and how to reach out to new realtors and homeowners in your area in this powerful, practical episode of The Good Endeavor Short Term Rental Show. Please join us. “We help vacation rental management companies grow their inventory and retain their current owners.” ~ Tyler BotsfordIn This Episode:How Tyler got into real estateWhat is VR Connect?Helping Vacation Rental Management Companies growBeware ‘Shiny Object Syndrome'How do you get a homeowner on the phone?The science and art of authentic CRM campaignsAnd more!Connect with Tyler Botsford:Website - VRconnectionLinkedIn - Tyler Botsford, Digital Marketing Solutions - Founder - Vacation Rental Marketers | LinkedInConnect with Mark McDaniel:Website - https://staysimpli.com/Instagram- https://www.instagram.com/staysimpli/Facebook- https://www.facebook.com/people/Staysimpli/100088214988017/Twitter- https://twitter.com/staysimpliTikTok- https://www.tiktok.com/@staysimpli
What does ‘leveling up' look like when you transform an ordinary property into a super one? Bill Faeth is a Short Term Rental industry superstar and he is today's inspiring guest on The Good Endeavor Short Term Rental Show.Creator of BuildSTRWealth.com, Bill owns an impressive STR ‘super property' portfolio while also educating others, leading STR conferences, and doing it all – and with time for a round of golf!From sharing his STR origin story and taking a financial hit on his second investment to growing up without a father and seeking external validation as a golf pro, Bill's authentic approach to sharing his STR knowledge is what is making him such a popular real estate influencer these days. Learn how to ‘level up' your STR game in these changing, challenging real estate times with a man who has been there, done that, and knows how to crunch the numbers while also ensuring that his STR properties stand out from the crowd.This episode is jam packed with STR secret strategies that will help you build your STR wealth today! Please join us! “And for some innate reason I have an ability to identify unique properties and then turn them into what I call ‘super properties'.”~ Bill FaethIn This Episode:What drives Bill Faeth? Growing up with no father (with the game of golf) The importance of being in alignment with your spouse What Bill doesn't like about property management companiesHow Bill got started in STRs – and the lessons he's learned along the wayWhat are the key ingredients that Bill looks for in a super property? Identifying, creating, and marketing ‘super properties'What does it take to stand out with your STR?Appreciating that STR is not a passive industryThe value of establishing and sustaining personal connectionsAnd more!Connect with Bill Faeth:Link Tree - https://linktr.ee/bfaethInstagram - https://www.instagram.com/billfaeth73/?hl=enWebsite - https://buildstrwealth.com/Connect with Mark McDaniel:Website - https://staysimpli.com/Instagram- https://www.instagram.com/staysimpli/Facebook- https://www.facebook.com/people/Staysimpli/100088214988017/Twitter- https://twitter.com/staysimpliTikTok- https://www.tiktok.com/@staysimpli
Grant Dougherty of Dougherty Tax Solutions is providing enormous tax value and insight to his wide audience of followers on Instagram – including our host Mark McDaniel! Mark caught up with Grant in today's inspiring episode of The Good Endeavor Short-Term Rental Show which is all about getting your money right with STR tax incentives and opportunities. Learn all about real estate tax benefits, the importance of keeping good financial records of your STR properties so that you can claim back for 'non-passive activity', and more from a tax advisor who is at the top of his game and generous enough to share such valuable insight. Understanding the 500-Hour Rule, the importance of tracking your time in minutes (the IRS doesn't like estimates!), bonus depreciation, depreciation recapture, and a 1031 exchange are just some of the super valuable topics that Grant covers with Mark today. Up your tax game in style! Please join us. "I like to make money and I like to make more money. Once when I learned that you can make money - and then take that money to make more money - I was completely sold on the system." ~ Grant DoughertyIn This Episode:Grant's journey from university sportsman to superstar tax advisorWhat are some of the major tax benefits in real estate and STRs?How important is it to keep good records? Understanding the 500-Hour RuleWhat is the 'con' to bonus depreciation?What is a 1031 exchange?'Don't let the tax tail wag the economic dog'And more!Connect with Grant Dougherty:Link Tree - https://linktr.ee/doughertytaxsolutionsInstagram - https://www.instagram.com/requestgranted_/?hl=enWebsite - https://doughertytaxsolutions.comConnect with Mark McDaniel:Website - https://staysimpli.com/Instagram- https://www.instagram.com/staysimpli/Facebook- https://www.facebook.com/people/Staysimpli/100088214988017/Twitter- https://twitter.com/staysimpliTikTok- https://www.tiktok.com/@staysimpli
Dr. Bobby Herrington has a PhD in Theology and Philosophy and is a pastor at a 2500-strong church. He's run several 100-mile ultra trail runs and is now a running coach and leadership coach. On top of that, he's also a short-term rental investor and manager.What can a pastor teach me about the STR game, you might ask? The answer, you'll soon learn in this episode, is, in fact, quite a lot.Bobby and our host Mark ask us: what are you naturally good at? From there, you will be able to identify a skill you can transfer over to a business. If you're good with people, then you'll likely understand the guest experience and what it takes to create the right STR environment. Bobby Herrington is someone who likes to "create stuff," go after big adventures, help people spiritually and emotionally, and encourage others to go after their dreams too. There is a beautiful humility to his story as he shares just how we can all learn to align our life's vision with our goals, and then implement a more holistic strategy that makes joining the dots between owning a short-term rental business and creating impact in the lives that we live a lot easier to see. Please join us on this inspiring episode. "Ultimately, it's just about trying to go after the dreams in my own heart to create the life that we feel will be most impactful and fulfilling for us." ~ Dr. Bobby HerringtonIn This Episode:Create the outcome for someone that they can go afterWhat gave Bobby a hunger for the guest experience?Creating an awesome experience for your guest – and translating that into profit Having your price express the experienceHow to put your dreams on paper – and connect the dotsUnderstanding Radical AcceptanceAnd more!Connect with Dr. Bobby Herrington:Website (running) - https://www.205endurance.com/Website (properties) - https://www.pitchellproperties.com/Email - herringtonsrun@gmail.comConnect with Mark McDaniel:Website - https://staysimpli.com/Instagram- https://www.instagram.com/staysimpli/Facebook- https://www.facebook.com/people/Staysimpli/100088214988017/Twitter- https://twitter.com/staysimpliTikTok- https://www.tiktok.com/@staysimpli
What are you doing as a Short Term Rental (STR) host or property manager to ensure your property and portfolio stand out from the crowd? Having eye-catching images that will stop people from scrolling on social media and sit up and take notice of your STR is one way to go about showcasing your property effectively.Hollie Reed and Alex Ferguson are from Her Photography, and they have a wealth of experience shooting real estate and STR properties. From the 'money shot' that accentuates your property's best features, to the focal point that highlights the layout while hiding unattractive features (like under-the-counter stuff), Hollie and Alex are giving great advice on photographing your STR effectively.Investing in a good photographer to show off your home also demonstrates to the potential guest that you are prepared to invest in your property too, and is the beginning stage of building client trust. Learn from two of the best STR photographers out there in this informative episode with host Mark McDaniel. Please join us. "Just having professional photos just makes a huge difference and makes it (your STR) really stand out." ~ Hollie ReedIn This Episode:What is your ‘money shot'? How are you showcasing your property with proper lighting? What are the right angles to accentuate focal points and show your layout?Are people in your photographs a good idea? What advice does Hollie have for property managers? And more!Connect with Her Photography:Website - https://www.herpicture.com/Instagram - HER Photography (@her.photog) • Instagram photos and videosConnect with Mark McDaniel:Website - https://staysimpli.com/Instagram- https://www.instagram.com/staysimpli/Facebook- https://www.facebook.com/people/Staysimpli/100088214988017/Twitter- https://twitter.com/staysimpliTikTok- https://www.tiktok.com/@staysimpli
What does it look like to apply the lessons you've learned in a successful career in engineering to your new business in property management? This is the story of Holly George, the first-ever guest on The Good Endeavor Short Term Rental Show! Holly is in conversation with our host Mark McDaniel, and together they are sharing some fascinating insights into the value of scaling your short-term rental setup.There are also great tips on how best to protect your property and which brands come recommended, from decibel monitors to external cameras. Some things, like having the right SOPs in place in case of an emergency, just need some foresight and needn't cost an arm and a leg. As Mark has mentioned before, though, when you bless your guest, you get many blessings in return. Learn all about Killington, Vermont, and the value of being local so that you can respond in real-time to your guest's needs in this lighthearted episode that is bursting at the seams with awesome short-term rental management advice. Please join us! "If you're going to go it alone, don't assume that there's one person who's going to help you through it all as an individual. Because as an individual, YOU will have to assemble a team." ~ Holly GeorgeIn This Episode:The importance of building customer loyalty and trustHow hard is it to manage your own property? The importance of having a decibel monitorUsing Breezeway - the property care, operations, and messaging platformUsing external cameras as another layer of defenseWhat are your legal structures? How are your properties set up to avoid liability? The value of being local and being able to respond to a guest's needs immediatelyWhat are your SOPs in an emergency?What makes Holly's company stand out from the competition? The value of having clients who are on board with your visionAnd more!Connect with Holly George:Website - Killington Mountain HomesEmail - holly@killingtonmountain.comConnect with Mark McDaniel:Website - https://staysimpli.com/Instagram- https://www.instagram.com/staysimpli/Facebook- https://www.facebook.com/people/Staysimpli/100088214988017/Twitter- https://twitter.com/staysimpliTikTok- https://www.tiktok.com/@staysimpli
So, you've got a nice house – but a terrible interior! Remember, it's not about what you like in your short-term rental property, but what the guests want to experience. Mark McDaniel is reminding us to put aside our personal preferences as we create cash flow and pay down our mortgage on this awesome new episode!From your linen being crisp and clean and your headboard not looking secondhand, the story of your amenities and the 'stuff' inside your property is the story of your business. And you want it to be a good story. You want to be the one telling that story to your guest – not letting your guest concoct their own version. Do you know how many folk book out Airbnbs that have the golf game, Golden Tee, listed as an arcade amenity? The right game can be a literal game changer. So take the time to enrich your guest's experience with the right board games, the right artwork on the walls, and the appropriate amount of color throughout. Focusing on others' outcomes is good for your income. With Mark McDaniel and his recommended good endeavors, loving your short-term rental business and seeing ways in which you can improve has never felt better! "Don't be afraid of color." ~ Mark McDanielIn This Episode:Keep your interior assets (like bedframes and mattresses) looking fresh and newUsing color that complements the area that you're in Ensuring that your amenities are a pleasure to useSay NO to personal photos and plants The value of crisp, clean linen What design change can you make to improve your property? And more!Connect with Mark McDaniel:Website - https://staysimpli.com/Instagram- https://www.instagram.com/staysimpli/Facebook- https://www.facebook.com/people/Staysimpli/100088214988017/Twitter- https://twitter.com/staysimpliTikTok- https://www.tiktok.com/@staysimpli
Are you looking for ways to increase your short-term rental bookings? Saturation has increased and demand has decreased (slightly). You've spent a lot of money on your property, so you must bring your property management A Game. Mark McDaniel is coming in hot today with his Top 3 Ways to Increase Your Bookings. From dynamic pricing, which might alert you to big events in your neighborhood and help you automatically increase your pricing, to telling a story of your property with your photos, Mark is reminding us to get serious about our property portfolio and how we market it. If you want to own the mindshare of your guest (so that you can use the booking channels to gather their information and then market to them directly in the future), you need great hospitality, great amenities, and great design functionality. Then, when it comes to remarketing, you have an easier job on your hands.Mark's tips for growing your Airbnb business are a timely game-changer for those hosts out there looking to leverage their assets in a challenging economic climate. Please join us. "You want to be competitive. You want to have some sort of automation in your life and your business as you continue to grow." ~ Mark McDanielIn This Episode:Dynamic pricing – unpacking the available toolsHow to be active within your Airbnb accountHow to think about booking channels (collect info about your guest)Being aggressive with your dynamic pricing Why it's not worth skimping on your photos The value of remarketing and taking direct bookingsAnd more!Connect with Mark McDaniel:Website - https://staysimpli.com/Instagram- https://www.instagram.com/staysimpli/Facebook- https://www.facebook.com/people/Staysimpli/100088214988017/Twitter- https://twitter.com/staysimpliTikTok- https://www.tiktok.com/@staysimpli
Are you someone who feels a greater sense of fulfillment when you don't just do the bare minimum, and actually do more than is required of you?Inspired by the author Erwin McManus (link below), Mark is adopting a philosophical approach to our short-term rental business, asking us to consider whether we are doing the bare minimum, or seeking a more empathic connection with our guests by offering them that little bit more.The genius of doing more is that by being selfless and thinking of others, we derive the selfish benefit of feeling better for going above and beyond what's expected of us as short-term rental hosts. When last did you change the air filters in your property? What is your pool's water temperature? And are your guests aware of available concierge services? Bless your guest, and bless yourself and your business in the process! Please join me."The age-old adage: Treat people the way you want to be treated. How can we take that one step forward? How can we treat them better than they anticipated being treated?" ~ Mark McDanielIn This Episode:- Are we anticipating our guests' needs?- Are we building the right processes for our guests?- Appreciating that we get more when we give more- Are we looking to bless the guest?- Don't just bombard your guests with facts – seeking empathy - What's the one thing you can do to improve your business this week?And more!Resources:Erwin McManus (book links) - https://amzn.to/3pIm0FcConnect with Mark McDaniel:Website - https://staysimpli.com/Instagram - https://www.instagram.com/staysimpli/Facebook - https://www.facebook.com/people/Staysimpli/100088214988017/Twitter - https://twitter.com/staysimpliTikTok - https://www.tiktok.com/@staysimpli
Is hiring a property manager something you should consider? For those of you who have recently invested in a short-term rental property or if you already own several properties in multiple locations and are having difficulty managing time with many tasks, you may be in a tight predicament. If this is the case, the time has come to hire a property manager to run your business more systematically and provide a luxurious experience for your guests. Now, if we hire a property manager, how do we know they won't rip us off? We can't hire just about anyone. An excellent short-term rental property manager will come with vital skills and experience, but how do we know if what they say about their abilities is true?In this episode, I share three critical questions we must ask potential hires and why we must get their thoughts. So join me as I go through these questions one by one. "The good news is, when you go through all of these, the epiphany you might come to is: Man, with this property manager, I can actually make more money than I could through saving property management fees and managing it myself." ~ Mark McDanielIn This Episode:- Why hiring a property manager is a better approach vs. managing the property yourself - Three questions and why it's important to ask them when choosing a property manager- What insights can you get with the answers provided by your potential hires?And More!Connect with Mark McDaniel:Website - https://staysimpli.com/Instagram - https://www.instagram.com/staysimpli/Facebook - https://www.facebook.com/people/Staysimpli/100088214988017/Twitter - https://twitter.com/staysimpliTikTok - https://www.tiktok.com/@staysimpli
Let's talk about Short-Term Property Management DIY: Do It Yourself or Delegate It Yourself? There is lots to consider. Are you ready to scale? Are you ready to make the investment to do this right? To create a full-time property management or hosting business. Or are you looking for something that is strictly a passive income opportunity? Doing It Yourself is great – I've done it. I've also hired property management companies. Which way you go is up to you. I'd just like to offer you some encouragement and consideration before you get started. Should you start a website? Do you need property management software? How many booking platforms should you be on? I'll help you answer these questions – and more – in today's episode of The Good Endeavor Short Term Rental Show. Please join me."If you're gonna DIY, you need to think about this as a property management business owner: very hospitality-focused and very professional." ~ Mark McDanielIn This Episode:- Three things to consider when starting your own property management business- Keeping costs low by keeping your listing to one booking platform- Understanding Property Management Software - do you need it? - Are you maximizing your guest experience? - Understanding your two types of customers- Appreciating the investments you'll need to make in people and time- How to calculate your costs and add them to your short-term rental outlookAnd more!Connect with Mark McDaniel:Website - https://staysimpli.com/Instagram - https://www.instagram.com/staysimpli/Facebook - https://www.facebook.com/people/Staysimpli/100088214988017/Twitter - https://twitter.com/staysimpliTikTok - https://www.tiktok.com/@staysimpli
Are your goals in the property game to manage your own property and earn passive income, or are you wanting to scale with a property management company (with hospitality as a core value)? I'm Mark McDaniel, and this is The Good Endeavor short-term Rental Show.In today's first episode, I'm asking you to weigh up the merits of self-management versus hiring in the right property management company if you are in fact looking to scale. If managing properties fills you up, you'll learn how to build a management business. If it doesn't, you'll learn how to hire the right property manager.I've tried both options, and each comes with its own set of pros and cons, some of which I will share with you in this episode. If you are looking to make passive income in the short-term rental game, you will still need to watch out for those Karens who are just waiting to leave a bad review – and be prepared to deal with guest queries at inconvenient hours! Let's have some fun weighing up the choice between self-management versus getting in the right guys. Please join me."Over the past handful of years, the short-term rental industry has become inundated with folks trying to self-manage." ~ Mark McDanielIn This Episode:- Is self-management really that easy – or is self-management really that hard?- Do you just post some good pics of your property, and away you go? - Why hiring a property manager who has scale and experience is sometimes the best idea- How a good property manager will manage your algorithms wisely - The benefits of getting a VA as a property manager - Hiring the right cleaning team- Buyer beware! Watch out for the Karens!- How are you marketing to avoid falling back in the listings?And more!Connect with Mark McDaniel:Website - https://staysimpli.com/Instagram - https://www.instagram.com/staysimpli/Facebook - https://www.facebook.com/people/Staysimpli/100088214988017/Twitter - https://twitter.com/staysimpliTikTok - https://www.tiktok.com/@staysimpli
Get passive income through short-term rentals, and decide if you're cut out for managing it yourself. If managing properties fills you up, you'll learn how to build a management business. If it doesn't, you'll learn how to hire the right one.Airbnb, VRBO, STR, whatever name you know it by, you can make property management a good endeavor and be fulfilled while keeping the booking calendar filled as well. I'm Mark McDaniel. I'm not a real estate agent. I knew nothing about property management when my partners and I sold an IT company in 2015. I bought a 4 bedroom vacation rental in Tennessee's Great Smoky Mountains – with an indoor pool and what feels like a hundred mile view. But I quickly learned the way my first property manager worked, didn't work for me. The second, third, and fourth were significantly…no better.With the idea of being a passive real estate investor now out the window - that 100 mile window - I applied my key principles and unlocked the secret to maximizing the value of rental properties, keeping the calendar full, and being satisfied and fulfilled by my work. The techniques you'll hear on The Good Endeavor Short Term Rental Show can be applied to any business, but they sure do make short-term rentals more enjoyable for the host, more enjoyable for the guests, and more profitable for the owner.
© 2020-2025 Ivy Podcast Discovery LLC
