Short Term Rental Pros Podcast Hospitality.FM

This episode of the Short Term Rental Pros podcast features an in-depth conversation with Jeremy Werden and young entrepreneur Thomas Morey, detailing Thomas's journey in the short term rental business. Starting during his college years, Thomas grew his operation from zero to 14 properties, transitioning from a college student to a full-time entrepreneur. The discussion highlights the challenges and breakthroughs Thomas faced, including his shift from considering arbitrage deals to focusing on co-hosting, leveraging his youthful insight into technology for business optimization, and his personal growth amidst struggles with mental health. Moreover, Thomas shares actionable insights for those looking to enter the short-term rental market, emphasizing the importance of scalability, understanding market demand, and efficient operational strategies.
00:00 Introduction to Thomas Morey's Journey
00:38 Diving Into the Podcast with Thomas Morey
01:10 Thomas's Start in Short Term Rentals
01:49 The Challenges and Triumphs of Starting Out
02:42 The Strategy Shift: From Arbitrage to Co-Hosting
16:20 Scaling Up: Securing More Properties
21:16 Optimizing and Expanding the Business
28:41 Reflections and Future Directions
30:54 Unlocking the Secrets to Successful Property Listings
31:21 Custom Pricing Strategies for Individual Properties
31:38 The Art of Capturing Perfect Property Photos
32:21 Maximizing Revenue with Strategic Guest Targeting
33:20 Balancing College and a Thriving Rental Business
33:43 Setting Ambitious Goals Beyond Graduation
35:25 The Power of Mentorship and Community in Business Growth
37:15 Leveraging University Resources for Business Success
46:40 The Entrepreneurial Journey: Reflections and Advice
51:34 Embracing the Future with Confidence and Purpose

This comprehensive podcast features Jeremy Werden, who shares an insightful and inspiring journey in the short-term rental industry, marked by his entrepreneurial spirit inherited from his family. Starting with a profitable investment in a lake house and expanding to boat rentals and more properties, Jeremy emphasizes the importance of hard work, strategic planning, and community support. Additionally, the podcast delves into the mindset necessary for success, the value of learning from experiences, and giving back to the community. Jeremy discusses the challenges and strategies of scaling a rental portfolio, the significance of dynamic pricing, listing optimization, and developing software to meet user needs. He also highlights the importance of setting clear goals, understanding the balance of risks and returns, and leveraging relationships within the industry. Through his narrative, Jeremy illustrates how to achieve financial freedom by mastering the art of short-term rentals and fostering a sustainable business model.

00:02 Welcome to the Short Term Rental Pros Podcast
00:28 The Journey Begins: From New Jersey to Entrepreneurship
02:02 Family Roots: Lessons from a Single Mother and a Hardworking Father
05:47 Sibling Bonds and Competitive Spirit
09:50 The Entrepreneurial Spark: Early Ventures and College Challenges
21:10 Navigating Career Paths: From Corporate Rejections to Startup Success
32:19 Pivoting to Short-Term Rentals: A Lake House Story
38:39 The Journey to Full-Time Real Estate Investing
39:33 Diving Deep into Renovation and Expansion
41:05 Exploring New Markets: The Florida Venture
48:05 The Shift to Software and Coaching
49:27 Empowering Others Through Coaching and Community
01:00:09 The Future: Goals, Software Development, and Personal Growth

Tune in to hear Jeremy's insightful discussion with Taylor Jones, a successful entrepreneur who has acquired 160 short-term rental properties. Taylor shares his expertise on expanding services for everyday investors, emphasizing the importance of finding, acquiring, underwriting, and scaling short-term rentals efficiently. Jeremy asks Taylor questions about how to improve his existing properties, exploring potential upgrades for higher revenue and operational advice. Some of Taylor's advice includes practical tips on photo optimization for listings, leveraging amenities for competitive advantage, and using data analytics for better performance measurement and strategic planning.

In this episode, Jeremy is talking with Sief Khafagi, the founder of Techvestor. Techvestor is a company specializing in short term rental properties. Techvestor impressively manages between 130-140 properties, generating close to $20 million in yearly revenue. Sief shares his journey from tech, including a stint at Facebook, to entering the short term rental market propelled by a personal need for family-friendly accommodations and spotting an investment opportunity in Airbnb properties before they became mainstream.
He covers the importance of assembling the right team to tackle the dynamic challenges of the business, especially in uncharted territories of the short term rental market. Sief also dives into Techvestor's approach to using a traditional syndication model for raising funds and acquiring properties, leaning heavily on innovating operational strategies and maintaining strong leadership to ensure investor confidence and company success.
Connect with Sief on LinkedIn: https://www.linkedin.com/in/siefkhafagi/

Ben Wolff, a trailblazer in the short-term rental industry, joins Jeremy for this episode. Ben is co-founder and developer of Onera, a luxury treehouse resort in Texas Hill Country. His experiential hospitality firm Oasi develops and manages a portfolio of landscape resorts, boutique hotels, and luxury retreats. 
Ben discusses the challenges and lessons from his first project, Onera Fredericksburg, and how it led to the creation of other ventures like Onera Wimberly and the upcoming Oasi Hill Country resort. This conversation covers financing strategies, the importance of building a solid team, and how creating value for investors is key to advancing in the industry. 

Hanan Kim, a successful property entrepreneur, joins Jeremy this week to dive into the intricacies of scaling in the short-term rental market and transitioning into boutique hotels. She talks about the significance of understanding financials, studying successful properties, and the necessity of continuous education for thriving in this industry. Despite facing challenges, Hanan shares her strategic approaches to various U.S. markets and highlights the importance of operational management, including guest communication and staffing.