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The Cashflow Couple Podcast
29 minutes | 2 months ago
EP76: You'll Never Guess What We Did!
You'll never guess what we did! Well you might because we talk about it a lot but... We did exactly what we told you about in Episodes 72 and 73 About how the rules of money work And it worked!
34 minutes | 2 months ago
EP75: Lessons from 2020 and The New Normal
What did 2020 teach us? And how can we apply those lessons in 2021? Well, we learned a lot, that's for sure! About ourselves... About our business... About how life is going to change forever...
27 minutes | 2 months ago
EP74: 2020 Recap
What did 2020 teach us? Several things... 1. Expense Ratios matter 2. Move money more 3. Give people options 4. The Slight Edge works 2020 has taught us how important it is to know your numbers. But just the mere fact that we had numbers wasn't the whole story. We had to know that they are good numbers so that we could make sound business decisions with them. Mo' money = mo' problems! Now what do we do with the money now that we have it? Another thing 2020 has taught us. Don't paint a seagull on someone else's painting. Guests don't like being told what to do. They like options. We found out the hard way but it's a lesson worth learning. Lastly, 2020 has taught us that success doesn't come over night. Success is a culmination of a lot of mundane, seemingly unimportant things done every day over a long period of time.
31 minutes | 3 months ago
EP73: The Rules of Money Part 2
Part 2 of last week's conversation of how the rich get richer and you can too! Robinhood affiliate link: https://bit.ly/33MM5oA
34 minutes | 3 months ago
EP72: The Rules that the Wealthy Play By Can Be Yours Too!
It's true that wealthy, successful people play by a different set of rules than ordinary folks do. But the rules can be your rules, too! They're not a secret. It's just that most people don't get taught the rules... by anyone, not your mom, not your dad, not your school. Wealthy, successful people know the rules. They know the game. They know it's a game of money. So what do they do with their money that makes the difference? Let's find out...
32 minutes | 3 months ago
EP71: Hosting for the Holidays- Some Things to Remember
Tune in for some Holiday Hosting tips! Just some things that we've learned from experiencing several Holiday seasons. Like... you're going to have to clean the oven probably. And the "do you decorate for the Holidays" question that comes around every year. But if there's one thing we've learned, it's that now is the time to start planning for the Holidays in terms of pricing, minimum night stay and your team schedule.
30 minutes | 4 months ago
EP70: Why You Should Have Systems
What are systems and why are they important in your business? Have you ever wondered why you get the same cheeseburger from McDonalds no matter where you go? Systems There's a system for making a cheeseburger and it's the same system at a McDonalds in New York as Paris. Systems provide consistent, dependable, scalable results. We've decided to show you how our Door Code Change system works on a LIVE demonstration on our Facebook Community- The CashFlow Couple Community. Come check it out!
32 minutes | 5 months ago
EP69: Really? With No Money? Kind of
Finding ways to fund your STR venture can be challenging. If you're thinking about partnering with someone, we can help you ask the right questions. Book a call with us at TheCashFlowCouple.com/AskUs Creating a note to fund your business is one way to do it. What about using credit? We've done it. We know plenty of people who do it. We'll talk about the pros and cons.
34 minutes | 5 months ago
EP68: To Extended Stay or Not? How do you decide?
24 minutes | 6 months ago
EP67: Through the Eyes of the Guest
We had a great time "glamping" this past weekend at a semi-local campground. Quite a few things stood out to us as we were the guests this time. It was an interesting experience and we learned that camping at a campground and the STR business had a lot in common. From the booking experience to the review experience, many things were the same. We got a confirmation email. We got an email with check in instructions. We got a request for review email. Even the experience of staying there had a lot of similarities to the STR biz.
24 minutes | 6 months ago
EP66: Get Back Your Time With This Simple Process
Are you working too much IN your business and not enough ON your business? Here's a simple but effective process to get more of your time back so that you can have the time freedom you deserve. Even corporate America uses this same process! Shadow yourself for at least a week and write down everything you do in your business. Write the name of the task and how long it takes you to do it. Then, at the end of the week, categorize the tasks into Like/Dislike/Indifferent. The first things to get off your plate are the things that you dislike doing. Maybe it's bookkeeping. Maybe it's talking to guests. That list is now your job description. Now it's time for training. Let's do this!
23 minutes | 6 months ago
EP65: What are you afraid of?
We hear this a lot. People say they're scared to talk to landlords but why? What are you really afraid of? Maybe if you ask to lease a place, the landlord will say no. What are they saying no to exactly? Have you taken the time to think about who you are as a company and what value you may be bringing to the landlord? Even what value your business is bringing to the community? The key is to say what's in it for them.
28 minutes | 7 months ago
EP64: What are you going to do with all that money?
Do you have a plan for all that money that your short term rental business is bringing in? Use the Profit First system! What is Profit First you say? Well, it's just a method of managing your cash flow. It's a plan for your money. And here's how we use it for our short term rental business.
30 minutes | 7 months ago
EP63: Beds and Body Bags
When you have a reservation that turns out to be a dumpster fire, you learn from it! From a broken bed to body bags, we'll reveal a story stranger than fiction. You can't make this stuff up!
28 minutes | 7 months ago
EP62: Pricing Secrets to Dominate Your Market
Consistently tracking prices for all of your units even though the pricing changes every night is a difficult task. However, it possible with software such as PriceLabs. But even using software isn't a "set it and forget it" thing. You have to consistently monitor your pricing. So where do you even start? Listen up because we're about to break it down into 3 easy steps: 1. Determine your expected occupancy rate 2. Determine your fixed expenses 3. Get your "Don't lose money number" and your "Profit number" with this easy formula
27 minutes | 7 months ago
EP61: How to Crush Your Market with Extended Stays
Want to know how to crush your market with extended stays? Join us as we talk about what an extended stay is, the pros and cons and some amenities that extended stay guests actually value.
34 minutes | 8 months ago
EP60: Another One Bites the Dust
Case study of 3 major short-term rental start ups and their battle against the Covid. 2 losers and 1 winner. We discuss what the losers did wrong and what the winner did right. Lyric, once a powerhouse with over 400 units in 13 major cities, closes its doors. This article in Forbes, found here: https://www.forbes.com/sites/davidjeans/2020/07/02/rental-startup-lyric-shuts-most-locations-in-pivot/#6c15258840c8, sheds light on its 2 major reasons for its downfall: its reliance on a platform (Airbnb) and its service of only 1 customer type. Once a $100 million company, Stay Alfred has closed all of its 2500 locations. In this article, found here: https://www.spokanejournal.com/local-news/stay-alfred-closes-its-doors-permanently/ the owner of the company says that there was a "fundamental crack" in the business model. But is that true? We think not. Because the winner, Sonder, has proved that the it's not the business model that's the problem. Sonder also leases property so how were they able to stay afloat? Read about it here: https://www.forbes.com/sites/stevenbertoni/2020/06/24/hospitality-startup-sonder-raises-170-million-at-a-13-billion-valuation-during-covid-travel-collapse/#673574c048aa
38 minutes | 8 months ago
EP59: For the love of God, Please stop calling it an Airbnb
So is this like an Airbnb? Can I Airbnb my property? We can't Airbnb here! It's illegal! We get these questions all the time. And the answer is easy enough. It's just a simple perspective shift. We'll talk about the answer to these questions, including the legality issue, and much more on this week's podcast. And guess what! We have training for that! Join us at TheCashFlowCouple.com to learn more about the mindset shift needed in order to be successful in this business.
38 minutes | 8 months ago
EP58: How to Set Up 2 Units in 3 Days
Setting up a new unit takes a lot of pre-planning and organizing. Check out how we set up 2 units in 3 days REMOTELY! Could not have done it without the help of Ben Curry from B&S Construction in Alexandria, LA. Huge shout out to him for all of his hard work helping us put these units together. The quicker you can set up your unit, the less money you will lose. Every day that unit sits empty costs you money. Hiring a designer who can get it done quickly will save you money in the long run. If you are in need of a skilled design pro to design and set up your units, let us know! Just email us at firstname.lastname@example.org and we'll set up a time for a free consultation.
27 minutes | 9 months ago
EP57 : Interview with Chinedu Akunne
On today's podcast, we interview a special guest, Chinedu Akunne. Chinedu is originally from Nigeria and now lives and invests in Alexandria, Louisiana. We had the pleasure of setting up his first 2 short-term rentals for him. He talks about his story and his experience of getting started. Chinedu Akunne is also the host of the podcast Immigrant Investor Show. His website is immvestor.com. His direct booking website is heirsliving.com if you or someone you know needs a short-term rental in Alexandria, Louisiana.
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