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Podcast and YouTube: Short Term Rental Secrets
Ep 162: How to turn a boutique hotel into an AirBnB | Mike Sjogren
04:45 – Part of being an investor and entrepreneur is you just have to learn how to solve problems really quickly, Mike said.
11:52 – I focus more on the investors and not on the vacation homeowners. Investors are more focused on the numbers and obviously the systems. And if the numbers make sense, that’s what investors make their decisions are.
14:10 – People do business with people that they know they can trust. You got to get yourself educated. Nobody is gonna give you a property just because you present them an idea. They have to feel comfortable that you know what you are actually talking about.
14:36 – Get a mentor and leverage your mentor credibility.
15:49 – You have to put into work to master your craft if you really want to take it to the next level.
19:52 – From a hotel standpoint, you’ll generate more cash flow in short term rental than one room. But from an equity and wealth standpoint, it is not even close.
20:37 – The real work isn’t building your team. Once you have a good team, it is super easy to scale.
26:01 – You just have to be okay that you’re gonna make mistakes. Find a mentor and educate yourself, but you have to implement what you are learning.
26:29 – You have to find ways to get leverage on yourself because most people are stuck in their comfort zone.
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