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Ep 165: Build and Sell an STR Business for $1 Million+ | Julie George
12:04 – Julie made herself so valuable by being a realtor, by being an interior designer, and by being a manager.
12:55 – What is somebody’s problem that you can solve? Take your blankets off and think outside the box. If there isn’t an obvious solution, create one. This is Julie’s advice to everyone.
13:49 – If Julie wanted to start a business, she didn’t want to chase properties. She wants the business to come to her. So she built up her brand and market herself in the community as being the airbnb expert.
18:26 – You need to learn the basic framework, the structure, the policies and procedures you need to put in, and you need to have the right team underneath you. And the most important is to get yourself an education and make sure you learn as much as you can.
22:58 – When you are getting into short-term rentals, you are building a saleable asset whether you are going to arbitrage model or whether you are co-hosting. As long as it is in LLC, you are building a saleable asset.
24:01 – Realtors are valuing your business like how they value a long-term rent role. They are using the same multipliers in your industry that they would use in their industry.
26:29 – Everybody should have an exit plan. You really should be knowing if you are in the business for long term or short term.
28:02 – I chose to go with the short-term rental industry buyer because they will be looking to keep my structure and my business exactly the same way I set it up.
32:13 – You can connect to Julie at Clubhouse everyday. You can also ask her questions because she’s absolutely an open book when it comes to sharing.[/et_pb_text][/et_pb_column][et_pb_column type=”1_3″ _builder_version=”3.26.6″][et_pb_signup mailchimp_list=”undefined|” layout=”top_bottom” name_field=”on” title=”Download Your Free Starter Guide” button_text=”Yes! Please Send It” description=”
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