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Join us for an inspiring conversation with Casey Quinn, co-founder of City Life Residential. Learn how Casey turned getting fired from his corporate job into an opportunity to dominate the real estate game. Discover his dynamic journey from CPA to real estate mogul, his partnership with a former real estate agent, and their incredible growth to over $100 million in assets. Casey shares invaluable insights on scaling businesses, the importance of happiness and culture in the workplace, the power of 'who not how' in hiring, and the pivotal role of accountability. Don't miss his practical tips on starting new ventures, tackling business constraints, and the significance of understanding key financial metrics. Plus, hear Casey's thoughts on navigating the current economic landscape and his advice on keeping as much real estate as possible!
Connect with Casey:
https://www.linkedin.com/in/caseyryanquinn/
Let's connect!
► Blue Gems Instagram: https://www.instagram.com/bluegemsgroup/
► JB's Instagram: https://www.instagram.com/jbinvested/
► Aidan's Instagram: https://www.instagram.com/aidangroll/
► Blue Gems STR Management: https://bluegemsmgmt.co
► STR Meetup: https://bluegemsgroup.com
Timestamps:
00:00 Introduction and Guest Background
00:39 Building City Life Residential
01:14 Scaling Multiple Businesses
02:12 Real Estate Investment Strategies
04:48 Corporate Life to Entrepreneurship
06:19 Importance of Hard Work and Persistence
08:20 Creating a Positive Work Culture
12:32 Implementing EOS for Business Success
20:10 Handling Tough Conversations
27:52 The Importance of Clear Expectations in Hiring
29:00 Onboarding: Setting Up for Success
30:37 The Cost of Employee Turnover
31:00 Balancing Multiple Successful Businesses
32:28 The 'Who Not How' Philosophy
33:30 Investing in the Right People
39:54 Hiring Strategies for New Companies
43:39 Common Constraints in Business
46:17 Key Financial Metrics to Monitor
50:17 A Day in the Life of Casey
53:43 Final Thoughts and Advice
*None of this is meant to be specific investment advice, it's for entertainment purposes only. -
In this episode of the Blue Gems Podcast, hosts interview Mark Lumpkin, the founder of STR Cribs, a licensed design and renovation company that specializes in short-term rentals. Mark discusses the company's unique approach to transforming properties into standout vacation rentals with eye-catching amenities and designs. He shares insights into the importance of original design, elevating guest experiences, and how to stay ahead in a competitive market. Mark also opens up about his career journey, personal experiences with short-term rentals, and the evolution of the hospitality industry. Listeners will learn valuable tips on how to increase ROI through thoughtful renovations and strategic market positioning.
Connect with Mark:
https://www.linkedin.com/in/mark-lumpkin-84b173142/
Let's connect!
► Blue Gems Instagram: https://www.instagram.com/bluegemsgroup/
► JB's Instagram: https://www.instagram.com/jbinvested/
► Aidan's Instagram: https://www.instagram.com/aidangroll/
► Blue Gems STR Management: https://bluegemsmgmt.co
► STR Meetup: https://bluegemsgroup.com
Timestamps:
00:00 Introduction to the Blue Gems Podcast
00:23 What is STR Cribs?
01:07 Garage Conversion Success Story
02:13 Mark's Journey into STR Renovations
03:53 Background Before STRs
05:52 Designing for Short Term Rentals
07:30 Creating Unique Guest Experiences
14:14 High ROI Amenities
17:20 Future Trends in STR Design
19:05 Addressing Market Saturation
20:32 Common Mistakes by Investors
22:45 The Importance of STR Design Strategy
28:15 How to Work with STR Cribs
33:12 Mark's Personal STR Portfolio
35:02 Final Thoughts and Contact Information
*None of this is meant to be specific investment advice, it's for entertainment purposes only. -
Saknas det avsnitt?
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John Bianchi, renowned for his expertise in Airbnb data analytics, joins the Blue Gems podcast to discuss his unique process for identifying profitable Airbnb properties. Bianchi, who has successfully analyzed and selected over 140 cash-flowing properties for Techvestor, the largest short-term rental investment fund in America, shares his insights on training, free resources, and the importance of value stacking. He also delves into the challenges faced by new investors, the significance of market data, and how to differentiate properties to attract specific demographics like bachelorette parties. Bianchi offers a detailed perspective on the operational considerations in property management and emphasizes his mission to prevent investors from purchasing unprofitable properties.
Connect with John:
https://www.linkedin.com/in/john-bianchi-245608a6/
Let's connect!
► Blue Gems Instagram: https://www.instagram.com/bluegemsgroup/
► JB's Instagram: https://www.instagram.com/jbinvested/
► Aidan's Instagram: https://www.instagram.com/aidangroll/
► Blue Gems STR Management: https://bluegemsmgmt.co
► STR Meetup: https://bluegemsgroup.com
Timestamps:
00:00 Introduction to Blue Gems Podcast
00:27 John Bianchi's Journey and Expertise
01:11 The Importance of Data in Airbnb Investments
02:43 Challenges and Solutions in Property Investment
07:05 Breaking into the Airbnb Space
10:27 High-Level Overview of Investment Process
13:20 Market Inefficiencies and Strategic Acquisitions
20:02 Operational Considerations and Market Selection
21:35 Tools and Software for Market Analysis
26:24 Comparing Portfolio Performance with Pricelabs
26:49 Challenges with KeyData's Averaged Data
27:30 Using Average Data for Revenue Management
28:00 Understanding Acquisition vs. Pricing Data
28:37 The Value of Adding Amenities
30:16 The Concept of Value Stacking
35:34 Experience Premium in Airbnb
37:04 Bachelorette and Bachelor Themed Homes
45:34 Common Mistakes by New Investors
47:16 White Glove Service for Airbnb Investors
50:56 Final Thoughts on Airbnb as a Business
*None of this is meant to be specific investment advice, it's for entertainment purposes only. -
In this episode of the Blue Gems podcast, Syed discusses the importance of learning and taking action, investing locally, and avoiding trendy markets. He shares his journey of managing 300 Airbnb units, operational strategies, and overcoming challenges. Syed also highlights his focus on scale, team management, and future plans for growth.
Top takeaways from this episode include:
1) Balance Learning and Action: Learn from YouTube and Instagram but prioritize taking action over endless preparation. Acting on limited knowledge can be more beneficial than over-preparing.
2) Invest Locally: Focus on investing in your local market where you have the most knowledge and can leverage your network. Avoid getting distracted by trending markets that might not be sustainable.
3) Consistent Growth Mindset: Continuously evolve your strategies, learn from mistakes, and adapt to market changes for sustained success.
Follow Syed online: https://www.instagram.com/syedbnb/
Let's connect!
► Blue Gems Instagram: https://www.instagram.com/bluegemsgroup/
► JB's Instagram: https://www.instagram.com/jbinvested/
► Aidan's Instagram: https://www.instagram.com/aidangroll/
► Blue Gems STR Management: https://bluegemsmgmt.co
► STR Meetup: https://bluegemsgroup.com
Timestamps:
00:00 - Intro
00:44 - Syed Lateef’s business background.
04:13 - First Arbitrage Units: Initial success and scaling.
10:12 - Managing the business during the pandemic.
16:35 - Focusing on local markets.
33:34 - Handling inventory and logistics.
36:42 - Prioritizing revenue growth.
40:33 - Key takeaways from scaling the business.
52:06 - Exploring personal branding and new revenue streams.
53:33 - Building and leveraging a personal brand.
56:51 - Where to Find Syed.
*None of this is meant to be specific investment advice, it's for entertainment purposes only. -
In this episode of the Blue Gems podcast, the focus is on building successful businesses with Steve Rosenberg. Steve shares three crucial aspects for business success, the importance of leadership, creating systems over people-focused operations, and maintaining a forward-thinking mindset to ensure business growth and sustainability.
Top takeaways from this episode include:
1) Focus on the Essentials of Business: Emphasize monetization (sales and marketing), systemization (creating efficient systems), and duplication (training and scaling with a capable team).
2) Mindset and Leadership: Successful businesses start with the right mindset and strong leadership. Leaders must inspire and create a vision that their team can rally behind while also holding themselves accountable.
3) Importance of Creating Memories: Beyond financial success, building a business should provide the freedom to create meaningful memories with loved ones, as these moments are invaluable and irreplaceable.
Follow Steve online: https://www.instagram.com/rozenbergsteve/
Let's connect!
► Blue Gems Instagram: https://www.instagram.com/bluegemsgroup/
► JB's Instagram: https://www.instagram.com/jbinvested/
► Aidan's Instagram: https://www.instagram.com/aidangroll/
► Blue Gems STR Management: https://bluegemsmgmt.co
► STR Meetup: https://bluegemsgroup.com
Timestamps:
00:00 - Intro
02:32 - Steve's Background: Upbringing and motivation.
07:26 - Lessons from property management.
08:12 - Transitioning from investor to business owner.
23:41 - Key components for business success.
36:18 - Generating consistent business growth.
48:00 - Continual growth and self-improvement.
52:30 - Navigating Business Partnerships: Clear communication and roles.
57:05 - Developing a success-oriented mindset.
59:00 - Importance of being a lifelong learner.
*None of this is meant to be specific investment advice, it's for entertainment purposes only. -
In this episode of the Blue Gems podcast, the team dives into the world of short-term rental investments with Sief from Techvestor. They discuss the importance of location, advanced tools, and data-driven decisions in driving revenue and occupancy growth. Sief also shares insights on transitioning from tech to real estate, the benefits of vertical integration, and optimizing revenue management.
Top takeaways from this episode include:
1) Leverage Expertise and Tools: Apply deep industry knowledge and advanced tools to increase revenue, ADR, and occupancy growth in your short-term rentals.
2) Simplify Investment and Operations: Invest in a short-term rental fund to enjoy the benefits of rental properties without managing them yourself. Let experts handle acquisition, design, and daily operations.
3) Optimize with Data and Performance: Use proprietary data and thorough market analysis to select top-performing properties and maximize returns on your investment.
Follow Sief online: https://www.instagram.com/siefkhafagi/
Let's connect!
► Blue Gems Instagram: https://www.instagram.com/bluegemsgroup/
► JB's Instagram: https://www.instagram.com/jbinvested/
► Aidan's Instagram: https://www.instagram.com/aidangroll/
► Blue Gems STR Management: https://bluegemsmgmt.co
► STR Meetup: https://bluegemsgroup.com
Timestamps:
00:00 - Intro
03:03 - Sief’s background and experience at Facebook
05:38 - Techvestor’s mission and growth challenges
08:08 - Current state of the portfolio and future goals
13:34 - Importance of data understanding
22:02 - Positioning as a leader in short-term rentals
23:00 - Scaling operations and future plans
29:03 - Positioning as an industry leader
35:41 - Future of short-term rentals
36:21 - Data-driven investment strategies
44:41 - Understanding fund investment
*None of this is meant to be specific investment advice, it's for entertainment purposes only. -
In this episode, we dive into the intricate world of hotel investments with a focus on acquisitions, financing, and strategic partnerships. The discussion unveils practical insights into navigating the hotel investment landscape, emphasizing the significance of strategic acquisitions, innovative financing options, and the power of partnerships in optimizing hotel operations. The conversation is rich with tactical advice, offering listeners a comprehensive blueprint to navigate the complexities of hotel investments successfully, from making compelling offers to mastering the art of hotel syndications.
Top 3 Takeaways from the Podcast:
Strategic Acquisitions: Learn the essentials of unlocking hotel deals, focusing on practical strategies to identify and acquire lucrative hotel investment opportunities.
Innovative Financing: Discover various financing avenues, including seller financing and other creative tactics, to facilitate smooth and successful hotel acquisitions.
Power of Partnerships: Gain insights into leveraging partnerships and syndications to optimize hotel operations, enhance investment strategies, and drive success in the hotel investment realm.
Follow Sujay online: https://www.instagram.com/Sujmehta/
Let's connect!
► Blue Gems Instagram: https://www.instagram.com/bluegemsgroup/
► JB's Instagram: https://www.instagram.com/jbinvested/
► Aidan's Instagram: https://www.instagram.com/aidangroll/
► Blue Gems STR Management: https://bluegemsmgmt.co
► STR Meetup: https://bluegemsgroup.com
Timestamps:
[00:00:00] Intro
[05:00:00] Transition into the Hotel Investment Space
[10:00:00] Strategies for Acquiring Hotels and Properties
[15:00:00] Discussion on Financing Options and Seller Financing
[20:00:00] Insights into Hotel Syndications and Partnerships
[25:00:00] Challenges and Learning Experiences in Hotel Investments
[30:00:00] Advice on Making Offers and Securing Deals
[35:00:00] Closing Thoughts and Final Pieces of Advice
*None of this is meant to be specific investment advice, it's for entertainment purposes only. -
In this episode of the Blue Gems podcast, we dive deep into the world of short-term rentals (STR) with Stacy St. John, a seasoned STR investor and property manager. Stacy shares her journey from starting in the real estate space to now owning 10 properties and managing a total of 26. She emphasizes the importance of understanding one's goals and vision before diving into the STR business. Stacy also highlights the significance of researching and choosing the right market, and the value of establishing strong relationships in the industry. Additionally, she touches upon the challenges and rewards of managing client funds and the importance of transparency in the property management space.
Top takeaways from this episode include:
1) Establish Clear Buying Criteria: Before jumping into the STR market, it's essential to outline your goals and vision for your business. Understand what you want from your rental and how it aligns with your life goals.
2) Research is Key: Once you have a clear vision, research potential markets that fit your criteria. Dive deep into understanding the dynamics of each market and evaluate each deal from an investment standpoint.
3) Transparency in Property Management: In the world of property management, transparency is crucial. Whether it's managing client funds or maintaining quality standards, being open and honest with clients can set you apart in the industry.
Follow Stacey online: https://www.instagram.com/stacey_st.john/
Let's connect!
► Blue Gems Instagram: https://www.instagram.com/bluegemsgroup/
► JB's Instagram: https://www.instagram.com/jbinvested/
► Aidan's Instagram: https://www.instagram.com/aidangroll/
► Blue Gems STR Management: https://bluegemsmgmt.co
► STR Meetup: https://bluegemsgroup.com
Timestamps:
[00:00:00] Intro
[00:01:47] Getting into short-term rentals.
[00:05:29] Ugly properties turned market opportunities.
[00:10:02] How did you do it?
[00:14:43] Concierge service for short-term rentals.
[00:20:23] Handling financial reporting correctly.
[00:24:10] Transparency in property management.
[00:32:39] Short-term rental advice.
[00:34:12] Different acquisition strategies.
[00:38:44] Finding a mentor for success.
*None of this is meant to be specific investment advice, it's for entertainment purposes only. -
In this episode of the Blue Gems podcast, we dive deep into the inspiring journey of JB Bullock, the co-founder of Blue Gems. From his early fascination with real estate in middle school to his professional poker career, JB shares how he transitioned into the real estate world during the COVID-19 pandemic. He discusses the importance of taking action, even if imperfect, and how he scaled from zero to 44 units in just under two years using none of his own money.
Top three takeaways:
The significance of building relationships and trust when raising private capital for scaling in real estate.
The value of partnerships, especially with complementary skill sets, in achieving rapid growth and success.
The importance of balancing personal life with business, and how reframing societal norms can lead to a fulfilling partnership both in business and marriage.
Follow JB online: https://www.instagram.com/jbinvested/
Let's connect!
► Blue Gems Instagram: https://www.instagram.com/bluegemsgroup/
► JB's Instagram: https://www.instagram.com/jbinvested/
► Aidan's Instagram: https://www.instagram.com/aidangroll/
► Blue Gems STR Management: https://bluegemsmgmt.co
► STR Meetup: https://bluegemsgroup.com
Timestamps:
00:00:00 Intro
[00:01:09] Real estate journey during COVID.
[00:04:33] Proof of concept in real estate.
[00:07:17] Full-time professional poker player.
[00:12:45] Raising private capital and partnerships.
[00:14:29] Scaling through raising private capital.
[00:19:55] Visionary vs. Integrator
[00:23:12] Defying societal expectations.
[00:26:14] Time in the game.
[00:31:19] Losing the essence of hospitality.
[00:34:57] Personal goals and travel.
*None of this is meant to be specific investment advice, it's for entertainment purposes only. -
Shownotes:
On this episode of the Blue Gems podcast, we spoke with Fouad Bazzi, the founder and owner of Crescent Retreats. Fouad shares his journey of opening gourmet restaurants and differentiating himself in a saturated market. He emphasizes the importance of diving into the data and understanding the supply and demand in the industry. Fouad also discusses his transition from a banking career to owning vacation rental properties on the West Coast, including Scottsdale, Phoenix, and Huntington Beach. He reveals his latest venture in the Florida market, just miles away from Disney World. Tune in to hear Fouad's inspiring story and his insights on building a successful business.
Follow Fouad online: https://www.instagram.com/fouadbazzi_airbnb/
Let's connect!
► Blue Gems Instagram: https://www.instagram.com/bluegemsgroup/
► Aidan's Instagram: https://www.instagram.com/aidangroll/
► JB's Instagram: https://www.instagram.com/jbinvested/
► Blue Gems Management: https://bluegemsmgmt.co
► STR Meetup: https://bluegemsgroup.com
Timestamps:
00:00:00 Intro
00:04:20 Importance of mentorship and education
00:05:11 Mastermind groups are valuable
00:14:03 Differentiate and compete on quality
00:14:20 Maximizing revenue through property utilization
00:22:11 Build relationships for raising capital
00:27:47 Short-term rental market is growing
00:28:04 Embrace nomadic lifestyle, know your market
00:32:28 Abundance mindset fosters connection.
*None of this is meant to be specific investment advice, it's for entertainment purposes only. -
Shownotes:
Coming from the STR Investor side, Kenneth Bedwell felt the struggle of finding new markets to invest in. With a smaller budget, it was hard to find a good market that didn’t break the bank and this inspired Kenneth to create a data comparison formula that originally wasn’t going to be shared with anyone other than some of Kenneth’s close connections in the STR world. He has some good friends though, and they pushed him to turn his spreadsheets into a whole platform. As a result of this, we now have STR Insights, a data platform that is the only place you can compare market data side by side to figure out the next market to invest in.
Knowing all that he does about data, Kenneth shares a lot of insight on markets across the country. He tells us what markets he would invest in right now (and one that he is) along with his opinions on what has to go into the decision of investing in a new market.
Follow Kenneth online:
► Kenneth's Instagram: https://www.instagram.com/kenny_bedwell/
► STR Insights Instagram: https://www.instagram.com/strinsights/
► Facebook Group, The STR Data Host: https://www.facebook.com/groups/1242310879999732/
Let's connect!
► Blue Gems Instagram: https://www.instagram.com/bluegemsgroup/
► Aidan's Instagram: https://www.instagram.com/aidangroll/
► JB's Instagram: https://www.instagram.com/jbinvested/
► Blue Gems Management: https://bluegemsmgmt.co
► STR Meetup: https://bluegemsgroup.com
Timestamps:
[00:00] Intro
[01:00] STR Insights and what it is
[01:46] What was Kenneth doing before STR Insights
[05:24] Sourcing the data and how it’s shared
[09:28] Data points on amenities
[10:53] Kenneth’s take on the luxury STR market
[12:36] If Kenneth owned a property management company, what would he do?
[14:09] What is a reasonable variance between STR Insight data and actual revenue?
[17:07] What markets to look at for MTRs
[18:19] Blue Gems Management
[18:46] Mistakes new investors make when underwriting a STR
[23:00] Taxes on STRs
[24:05] What three markets would Kenneth invest in right now?
[26:41] If I wanted to gross 200k or more, where should I invest?
[28:50] Kissimmee and Davenport
[30:48] Kenneth’s opinion on boutique hotels
[32:42] Number one piece of advice for a new STR investor
[33:59] Where is the STR market going in 2024
[35:21] One last blue gem
*None of this is meant to be specific investment advice, it's for entertainment purposes only. -
From both the guest side and the host side, Daniel Rusteen’s experiences in the STR space have helped him create great strategies for optimizing your Airbnb. A pro in the field, Daniel coaches other STR investors to supercharge their STR properties. In this episode, he is sharing the importance of running your STRs like a business with two main points: using dynamic pricing and direct booking. Dynamic pricing tools are a must and while sometimes there’s a learning curve, it can be a game changer. Building out your online presence off of the Airbnb platform by using direct bookings can also change the game for STR business owners.
Daniel has been a long term guest of mid- and short term rentals, and has a great perspective to share without listeners on things to think of if you want to get into MTRs. Many things that short term renters will overlook become nuisances to mid-term renters. You don’t want to miss this episode of Blue Gems, so go ahead and give it a listen!
Follow Daniel online:
► Website: https://optimizemyairbnb.com/
► Youtube: https://www.youtube.com/channel/UCwKwfQEYlbTCUynJHqjDmUA
► Instagram: https://www.instagram.com/optimizemyairbnb/?hl=en
Let's connect!
► Blue Gems Instagram: https://www.instagram.com/bluegemsgroup/
► Aidan's Instagram: https://www.instagram.com/aidangroll/
► JB's Instagram: https://www.instagram.com/jbinvested/
► Blue Gems Management: https://bluegemsmgmt.co
► STR Meetup: https://bluegemsgroup.com
Timestamps:
[00:00] Intro
[01:00] Who is Daniel?
[02:14] Running your STRs as a business
[04:02] Optimize My BnB
[05:45] Getting your review count higher and booking online
[09:03] Tools and software Daniel uses to run BnBs like a business
[12:36] Daniel’s book and potential titles
[15:33] The difference between STRs and vacation rentals
[16:27] Mid-term rentals
[17:31] What Daniel looks for as a guest in a MTR
[20:34] Reviews for STRs vs. MTRs
[21:44] Blue Gems Management
[22:12] Daniel’s lifestyle of living in MTRs and STRs: pros and cons
[27:37] A piece of advice for a new STR investor
[29:19] Where is the market going in 2024?
[35:24] One last blue gem
*None of this is meant to be specific investment advice, it's for entertainment purposes only. -
Welcome to this episode of Blue Gems! In today's show, we have a special guest, Julie Gates, a seasoned real estate investor and agent based in Savannah, GA. With over two decades of experience in the field, Julie has navigated through multiple cycles in the ever-changing real estate market.
Julie's journey began in 2004 when she and her husband started investing in commercial multi-family properties. Despite the challenges posed by the 2008 crash, they persevered and adapted their strategy, transitioning into single-family homes. It was during this time that Julie had a fateful encounter with Zeona McIntyre, a previous guest on our show, who inspired her to venture into the world of furnished rentals.
Embracing this new direction, Julie expanded her portfolio and founded a property management company. Today, she not only manages her own properties but also handles properties for other investors. As an agent, Julie guides clients through the entire sales cycle, offering comprehensive support from purchasing to management and everything in between.
Julie's real estate portfolio in the low country of Georgia is truly diverse. She has a mix of long-term, mid-term, and short-term rentals, catering to various market demands. Additionally, she has ventured into small multi-family properties and even established a boutique hotel.
Join us as we delve into Julie Gates' remarkable journey, learning from her experiences, insights, and strategies for success in the real estate industry. Whether you're a seasoned investor or just starting out, this episode promises to be an informative and inspiring discussion you won't want to miss!
Follow Julie online:
► Savannah Property Management - sidwashere.com
► Instagram - https://www.instagram.com/sidwashere912/
Let's connect!
► Blue Gems Instagram: https://www.instagram.com/bluegemsgroup/
► Aidan's Instagram: https://www.instagram.com/aidangroll/
► JB's Instagram: https://www.instagram.com/jbinvested/
► Blue Gems Management: https://bluegemsmgmt.co
► STR Meetup: https://bluegemsgroup.com
Timestamps:
[00:00] Intro
[01:09] Julie’s background in real estate
[03:06] The biggest lesson Julie learned from 2004
[06:04] When did Julie shift to rentals?
[08:37] Julie’s opinion on the current market
[11:14] Julie’s current portfolio
[14:00] Who typically stays at mid term rentals?
[16:44] Percentage of OTAs and Directs
[19:53] Managing mid term rentals
[23:51] In house maintenance
[26:29] Blue Gems Management
[26:57] What’s the going rate to manage a mid term rental?
[29:47] Biggest piece of advice for new real estate investors
[32:47] Where is the mid term rental market going in 2024?
[34:47] One last blue gem
*None of this is meant to be specific investment advice, it's for entertainment purposes only. -
On today’s episode of Blue Gems we’re welcoming Billy Withers, a short term rental tax strategist. He’s been in the field for 10 years total, focusing on short term rental investors for the past 5 years. When you’re just starting out as a STR investor it’s important to have a tax strategist to make sure you reap the tax benefits and avoid a huge tax bill at the end of the year. Billy talks about things STR investors need to watch out for when they are thinking about their taxes. He is getting into the laws, details, and loopholes that many normal tax strategists won’t be able to tell you.
To protect yourself from a dreaded tax bill, it’s important to build yourself a tax team that can give you good financial advice. Billy shares the best way to build out your tax dream team, from what to look for to who you need behind your back. A tax strategist may cost a couple grand up front, but they will save you tons of money in the long run. If you want to know what you need to do as a client of a tax strategist, Billy also shares how the client side of things work. Billy closes out our episode with two blue gems you don’t want to miss that will help an STR investor who may be feeling inexperienced in the realm of tax strategy.
Follow Billy online:
► Website - https://summitats.com/
► Email - [email protected]
► LinkedIn - https://www.linkedin.com/in/billywitherstax/
Let's connect!
► Blue Gems Instagram: https://www.instagram.com/bluegemsgroup/
► Aidan's Instagram: https://www.instagram.com/aidangroll/
► JB's Instagram: https://www.instagram.com/jbinvested/
► Blue Gems Management: https://bluegemsmgmt.co
► STR Meetup: https://bluegemsgroup.com
Timestamps:
[00:00] Intro
[01:08] Billy and his background
[03:17] Why should you have a tax strategist?
[04:52] Why did Billy focus on STRs?
[07:43] Differences between a long term rental and short term rentals with taxes
[08:50] What qualifies as passive?
[10:46] The short and long term benefits on depreciation
[12:42] Changes in tax laws in 2023-24
[13:50] What is a cost segregation study?
[15:31] The steps of building out a tax team
[19:25] What can you expect to pay for tax consulting?
[20:44] Blue Gems Management
[21:12] What a tax strategist needs from their clients
[23:48] Does Billy represent all the states?
[25:03] What is the number one mistake real estate investors make on taxes?
[26:27] What is the trend of people who are the most successful?
[27:13] The last blue gem
[28:30] Where to find Billy
*None of this is meant to be specific investment advice, it's for entertainment purposes only. -
In this episode of the Blue Gems Podcast, our very own Aidan Groll shares his story of transitioning from a corporate accountant to a real estate investor. He stumbled upon the concept of house hacking and was infatuated with the idea of buying a duplex and renting out one side while living in the other. Aidan also shares the mindset flip he experienced that's helping him to build a company that genuinely aligns with his lifestyle goals.
Let's connect!
► Blue Gems Instagram: https://www.instagram.com/bluegemsgroup/
► Aidan's Instagram: https://www.instagram.com/aidangroll/
► JB's Instagram: https://www.instagram.com/jbinvested/
► Blue Gems Management: https://bluegemsmgmt.co
► STR Meetup: https://bluegemsgroup.com
Timestamps:
00:00:00 Intro
00:05:44 Corporate background helping real estate
00:11:00 Learning from big companies
00:20:14 Flexibility for work-life balance
00:23:56 Discipline and willingness to sacrifice
00:33:38 Find a mentor, raise capital
00:37:48 Believe in limitless abilities
00:40:28 Building leadership skills
*None of this is meant to be specific investment advice, it's for entertainment purposes only. -
Tucked away on an island off the coast of Morocco are twenty five properties managed by Tash Rishardson, an STR investor and property manager. If managing these rentals didn’t keep her busy enough, she also coaches/mentors on the side to help other like-minded people follow in her footsteps. Tash and her partner have been in the STR game for seven years and are looking forward to growing their personal portfolio more.
Having worked in property management for several years, Tash is sharing how she got to where she is today and lessons she’s learned along the way. With her marketing background, she has a couple blue gems to drop about getting referrals for aspiring property managers. Listen to today’s episode of Blue Gems to learn more about co-hosting, building a team, logistics of management, and more.
Connect with Tash
Instagram: @thehosthouse
Blue Gems Management: https://bluegemsmgmt.co/
STR Meet Up: https://bluegemsgroup.com/
[00:00] Episode teaser
[00:27] Show intro
[01:00] Tash and her background in real estate
[03:41] The twenty five properties
[04:58] Managing property owners: systems and tips
[09:57] Direct bookings, getting leads, and marketing
[11:54] Getting clients as a new co-host
[13:42] How did Tash find her employees?
[15:30] Tash’s thoughts on her own portfolio
[16:57] Average annual revenue for the properties on the island
[18:19] What is the goal of the owner when the buy their properties?
[19:33] Blue Gems Management
[20:01] What clients will Tash turn away?
[21:14] Cost of setting things up for owners
[23:05] Hurdles Tash’s business is facing right now
[25:47] What is Tash excited about?
[28:05] Advice for a new STR investor
[28:57] Where is the STR market going in 2024?
[30:18] One last blue gem
[31:09] Where to connect with Tash
[31:25] Wrapping it up -
Today on Blue Gems we’re welcoming Becca Madigan from PriceLabs. She started out as a front desk pricing at her local vacation rental company in Charleston, SC and now has been with PriceLabs for two years. Becca is walking us through what services PriceLabs offers and how STR investors can utilize the analytics from design to amenities to specific markets. She sees lots of data and is talking about what the patterns in data are showing and things investors may need to watch out for when looking for new investments.
PriceLabs has lots of opportunity for customizations and also a great support team that is there to help you if something looks off. Use a dynamic pricing tool to save yourself time and make yourself more money, and if you don’t have one yet check out PriceLab’s website linked below and see how they can help you make a difference in your STR game.
Pricelabs Website- https://hello.pricelabs.co/
Blue Gems Management- https://bluegemsmgmt.co/
STR Meet Up- https://www.eventbrite.com/e/blue-gems-strairbnb-meet-up-tickets-576481239907
[00:00] Episode teaser
[00:24] Show intro
[00:56] Becca Madigan: her journey into PriceLabs
[02:23] What is PriceLabs?
[03:50] How the market dashboard works and the data behind it
[06:11] Filtering by amenities
[07:15] Seasonality
[08:51] How do you begin to choose a base rate?
[10:25] Advanced factors for more experienced investors
[13:28] If you have one property, is it worth getting PriceLabs?
[14:28] Pricing
[15:35] New features coming out in PriceLabs
[16:46] What is the data telling about saturation?
[18:05] Blue Gems Management
[18:33] Markets Becca is excited about
[20:52] Saturated markets
[21:47] Things people miss with PriceLabs
[23:47] Why do people hold back on investing?
[24:32] Where is the STR market going in 2024?
[25:29] One last blue gem
[26:09] Where to find PriceLabs webinars
[26:39] Wrapping it up -
If you’re in the real estate STR market, chances are you have heard about mid-term rentals. But what’s the big deal? On today’s episode of Blue Gems your new favorite MTR expert, Zeona McIntyre, is sharing her knowledge with us. From marketing to management differences to lender perspectives, Zeona is giving a short course on how to get into the MTR game.
After managing properties outside of the United States, Zeona is currently working on getting her portfolio closer together than the five states she’s currently at. She’s looking into the Atlanta market and telling us why she loves it for MTRs and STRs. Listen in for blue gems!
Blue Gems Management: https://bluegemsmgmt.co
STR Meet Up: https://www.eventbrite.com/e/blue-gems-strairbnb-meet-up-tickets-576481239907
Connect with Zeona
Website: zeonamcintyre.com
Instagram: @zeonamcintyre
[00:00] Episode Teaser
[00:26] Show intro
[01:00] Zeona and her real estate background
[02:09] What market qualifies for MTRs?
[03:27] Defining STRs and MTRs
[04:34] Marketing and ROIs for MTRs
[06:33] Managing an MTR’s calendar/rental rates
[09:54] How new are MTRs?
[10:41] Common mistakes for MTR investors
[11:48] How do lenders and insurance companies see MTRs?
[13:13] Pulling potential rental income for MTRs
[14:03] Booking on vs. off platform and other tools
[16:52] Self-managed or a team?
[18:00] Management differences
[18:46] Blue Gems Management
[19:14] Management differences cont.
[20:05] What is Zeona interested in right now?
[20:59] What markets is Zeona in?
[22:02] Tips on Boulder, CO.
[24:02] Information on connecting with insurance providers
[26:20] Zeona’s current perfect market
[27:57] Managing properties outside of the country
[29:51] Advice for aspiring MTR investors
[30:27] Where MTRs are going in 2024
[31:12] One last blue gem
[32:05] Where to find Zeona
[32:17] Wrapping things up -
On this week’s episode of Blue Gems we are welcoming Keirra Castle, an STR investor who specializes in arbitrage and coaches on the side. Motivation for Kierra comes from her childhood and has spurred her to the success she is enjoying today. Starting out in finance, making the switch from a steady W-2 job to living off of STRs was a big jump for Kierra and she is sharing with us how she made that leap successfully.
Kierra is talking to us about standing out in saturated markets, her current portfolio, predictions on the STR market and everything in between. Her coaching business focuses on helping arbitrage investors get their first yes, while also bringing in guest speakers who specialize in other areas to bring her clients value. Kierra is encouraging people to fail forward and to not be afraid to ask for help when you need it.
Blue Gems Management: https://bluegemsmgmt.co/
STR Meet Up: https://bluegemsgroup.com/
Connect with Kierra YouTube + Instagram: kierracastle
Email: [email protected]
[00:00] Episode teaser
[00:20] Show intro
[00:53] Kierra and her story
[02:21] From big four to Airbnbs
[04:03] Kierra’s first deal
[06:34] The current portfolio
[08:06] Houston vs. Atlanta: how do the markets affect each other
[09:27] Arbitrage units [10:27] Key skills to succeed in STRs
[12:35] Saturation in Kierra’s local market
[14:00] How do you stand out?
[15:50] Blue Gems Management
[16:18] The best advice Kierra has recieved from her mentors
[17:35] Work life balance
[19:04] Team members/VAs
[20:38] Goals for the team
[21:57] Kierra’s coaching for getting the “yes”
[23:32] Challenges for the Airbnb business
[25:10] Technology or software
[26:17] Advice for new real estate investors
[29:29] Where is the STR market going in 2024?
[31:18] One last blue gem
[32:25] Where to find Kierra
[33:09] Wrapping it up -
Welcome to today’s episode of Blue Gems with Brindy Jean, an STR investor and host. She started as a property manager at a tech startup and bought her first home in Phoenix, Arizona. With March Madness coming up, she decided to earn some extra cash by renting out her house and became hooked on the STR game. The biggest hurdle she faced was the gap between a solid, W-2 job to making an income full time in the STR field. From using TurnoverBnB to coaching tips to design and budget, Brindy is sharing blue gems from her experience.
Brindy encourages STR investors everywhere to go beyond Airbnb and create short term rental businesses, not Airbnb businesses. If you start out on Airbnb like Brindy did, make a plan to add other platforms and direct booking because the STR space is going to shift to more direct bookings and retargeting prior customers.
Blue Gems Management- https://bluegemsmgmt.co/
STR Meet Up- https://bluegemsgroup.com/
Connect with Brindy
Instagram- @airbrindy
Website- www.airbrindy.com
[00:00] Episode teaser
[00:29] Show intro
[01:02] About Brindy and why she chose STRs
[02:14] Transitioning from a W-2 to full time STRs for 2 years
[04:41] Brindy’s current portfolio: arbitrage, coaching, personal properties, etc.
[07:33] The first step to getting an STR
[10:14] What Brindy’s team looks like
[12:27] Automations and tech
[15:29] TurnoverBnB
[18:26] Maintenance and handymen
[21:54] Blue Gems Management
[22:22] Handymen cont.
[23:46] Using VAs in the business
[28:09] Budget for furniture and where to find it
[37:21] Advice for new real estate investors
[37:57] Future of STRs
[38:55] One last blue gem
[40:03] Where to find Brindy
[40:33] Wrapping it up - Visa fler
