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you know what's funny you see all this crap online how everyone says that you need to have this like giant portfolio in order to replace a 9 to-5 job and I'm here to tell you like that's just totally okay welcome back everyone Michael and Katrina here with Str wealth Academy and what we want to do in this video is we want to show you what we're doing in our business currently to take advantage of what's happening in the

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short-term rental market and specifically we want to show you one change we've made made in one of our properties that increased our Revenue by over 30% and how you can apply some of the same principles to your own business so you can improve your results and ultimately make more money so if this is your first time joining us we're both the creators and co-founders of s wealth Academy we've been running short ter rentals for over 6 years since 2018

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we've grown our portfolio to over 70 units the majority of them we do not own and with that we've garnered some experience and really really been able to look at our portfolio at a really wide lens and just be like what is actually working and what's not working so anyone that comes into our Academy and they're coached by us they can really shortcut and know what to do and get the best bang for their buck and make sure they're profitable off the

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getg go so what we want to talk about in this video is a key concept that although you've probably heard it a million times is still super relevant and very important so earlier this year we went through and we did what we like to call kind of an 8020 on our portfolio which if you're familiar with the concept it's basically like 20% of what you do produces 80% of the results and 80% of what you do only does 20% of the results okay so like something to that

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like we've all heard this idea like a small percentage of the world's population controls the majority of the world's wealth you know so on and so forth so what we realized in going through our portfolio over this year is that's exactly what was happening a very small portion of the portfolio was producing the largest amount of results and we wanted to figure out it's like okay well why don't we just do more of this and less of that because one of the

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biggest changes in thought that we've had over the last year or so in being in this industry is how do we actually make more money by doing a lot less work and what's really good is how to increase revenue and profitability with less properties CU what we've realized and I know I just said we have over 70 properties but really this last year we haven't grown much really within it we've actually just really harnessed and improved and reinvested really within

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our portfolio and honestly guided our homeowners well to do the same so that they're making more we're making more and we all have less headaches because at the end of the day it's your business we want to have what to say low headache to income ratio so it's like less properties less headaches but higher income is literally the dream and that's what we've been able to really convert our current portfolio into that dream and if you're just getting started in

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this industry or looking to get started it's actually a really good place with where the industry is at right now because Airbnb as a platform is moving away from like a budget conscious budget friendly travel destination option more to an experience-based platform so if you follow some of the steps of things that we've done in our business in your own business you're going to make a lot more money and have way less headaches so how we came about this earlier this

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year we actually stumbled upon this infographic when just we were noodling on one of our phones and it was showing something really interesting so this image that you'll see on the screen here this actually came from Air DNA and it was pretty telling was what's actually working and helping people make more money with their listings so they're showing ADR which is average daily rate of what an Airbnb property can make with a hot tub and this is in Canada so we're

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in Canada we coach everyone from across North America and in our own Market we're like let's do this like let's try this out because it's showing as you can see by the graphic that um the average daily rate of property without a hot tub compared to one with a hot tub is vastly different essentially doubled so if you do not have one compared to with a hot tub you're doubling your average daily rate of what you can make for your property that was a huge I'm like well

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that looks like a sign and like let's try this out so that's exactly what we did we jumped in on one of our own properties that we actually own to see what this kind of impact would have on our Revenue what we're going to do is we're going to pop open our screen we're going to show you some before and afters and then we're also going to get into the actual numbers of the differences we've seen by adding more amenities to one of our properties and upping our

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game and taking it to the next level so let's dive into that now okay welcome back everyone so what you're looking at right now you might be like what the hell is this you're like what are we looking at right now what are we looking at okay so we're going to show you some before and afters now full disclosure this is actually a property that Katrina and I own personally I actually used to live in this home almost 10 years ago which is kind of

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crazy so anyways what this is the backyard of the property when we first launched we you know we had a fairly modest budget so we didn't have a lot of extra income at that time to invest into well really anything to up the aesthetic so it was pretty humble beginnings okay and even on that before photo we did not have that on our listing as well but that's exactly what it looked like before and we wanted to start with that because you know we just had I think

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just like a Walmart set that was up there and we just had a canopy and it was like super basic but it wasn't anything amazing right we just had a table four chairs and we took an iPhone photo of it right and this is guys like we started this listing over six years ago was a very long time ago and we looked at this and I was like okay we just got that up the listing this is like a very humble beginnings where we started I would say yeah so what you're

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looking at now so like here this is what the D now we did put a little bit in design when we first started it wasn't like we were just making this up as we go along but the most important thing is we got it done we got it posted and it started earning US income at that time okay but the reason why we went through and started improving the design adding more amenities is well in a lot of markets around North America and ours included it's just gotten more

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competitive if you want to stand out and you want to earn a higher nightly rate and also get better guests you got to take your game to the next level so this is what the property looked like before so it wasn't that it wasn't designed at all all it's just we've made some changes and we're going to show you exactly what those look like okay that's what the befores look like let's jump into the afters okay so you're like okay is this the same property when you're

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looking at it so this is guys exactly what we're saying how we changed one thing this is the hot tub that we put in and we just reinvested back into our property and we just made it super cool had a really nice theme with it and really cool experience so just touching based on really what airb be and short tentals are going toward and how you can separate yourself from the hosting herd as we like to say is what makes you different cuz they're actually in our

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own market we've had about a th000 new airb bees come online in the last half year which is a lot right just a huge influx of airb bees coming on so why is someone going to book your property over the next just to give you kind of an idea of some things we've done so we put a better canopy in metal we'd always have storms come through and they just get completely destroyed we ended up putting a hot tub in the backyard we installed this fire pit if you can take

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a look you can see on the fence we actually put a custom mural in here as well that local muralist that did it supported local she hand painted this it was beautiful how we were able to get this done let's see if we can get a zoom up of it it's just really gorgeous and that's how we elevated our backyard yeah you can kind of see there so again just to kind of tie into that like Nordic Spa theme you know make it feel like you're in the mountains even though that you're

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in the city again these are just things that we've done in order to really improve the aesthetic appeal and just adding more amenities to the property in order to improve what we can actually charge for it so you know just to kind of scroll through this really quick so you can get just a general idea of you know things that we had done to this property so here's like the master bedroom as an example master bedroom we're able to put a king bed in there

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updated some of the lighting you can see we did some really cool feature walls so really leaned into that Nordic Spa very minimalist you know natural theme with this right and just made it super bright inviting and really like made it super cool like this is that Nordic Spa we have a games room down there made it super Chic and cute yeah little skis on the wall like we're nowhere near the mountains with this it's about like a four or five hour drive from the city

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but just like bringing in the theme to an airbeam being a short rental is such a game Cher so all in with this enhancement and design and amenities we were into the property for an additional $330,000 okay so what we want to do next is we want to take you into the actual numbers and just show you what we're seeing very early on now granted it's still early in this process but what we've seen so far has been really encouraging so let's dive into it hey

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not to interrupt here but if you're liking this content and you want to find out more about how you can get started in this industry and how you can actually build your own short-term rental business without having to own or buy any property to get started in the comment section below in the description box we have a master class that you're able to check out it's about a 45 minute video explains in great detail uh how you can get started in this how you can

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get started with very limited funds and resources and most importantly how can you scale it up to the point where it can replace a 9 to5 working income a lot of our students get results within less than 30 days that they're able to start their own shortal business without owning any property without hitting their credit and doing it to little to no money in so this this is how we've started 99% of our students have started and they've been able to create these

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fantastic beautiful shortal businesses so if you want to grab that go ahead and just click the link in the description box below you know just in exchange for email address we will send you the master class and we'll explain everything great detail now with that being said let's get back to the content okay so this is behind the doors under the hood of what actually is looking like for this property and how it's producing guys so what we're looking at

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here you can see we actually did this refresh in August of this year so the time this is being recorded this is in late November 2024 so this is live in real time as much as we possibly can okay so what we have here this shows numbers from last year compared to this year in terms of the amount of Revenue that we've had come through on the property okay so in last August we did just over rather $6,300 in the same month now what's

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interesting with this as well we actually launched this property about mid August so this is actually an improvement just over like a 2 we period so we did just over $8,900 or nearly a 41% increase during the same period year-over-year okay like an extra 3K just alone in that yeah in that month alone and that was twoe period just getting a little bit more income coming in so I mean you think about that we put $30,000 in and within

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the first two weeks you know we got almost $3,000 back in terms of return so I mean that's 10% in one month it's not too bad right it's not too bad now full transparency now in September we had a little bit of a breather back okay so we actually saw less Revenue come through the next month and there's a reason why that too just so you guys know what's happening so August we put the hot tub in September we blocked two and a half almost 3 weeks to actually do the

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refresh so that's the painting the design and everything so that's why the revenue numbers look so much lower oh that's correct is because we were actually just blocked for a lot of the month doing the refresh full disclosure we had put the hot tub in first before we actually done you're actually correct on that we before we did the full design so that actually does make sense okay now going into October a little bit more of a modest Improvement so last October

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we did you know just over $6,000 with the full month open we did $6,700 so like 10% increase 10% not bad now what was really telling though is when we came into November now in our Market November is one of the slowest months of the entire year okay like it's shoulder season like no one comes here the snow start flying like no nothing happens in November in Edmonton super dead so last year we had done just over $1,500 in Revenue so pretty terrible

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month right this year we did over $5,500 in the exact same month so you can tell almost tripled the Improvement okay so on balance over the last 4 months this is what we're talking about we did just shot nearly a 31% Improvement nearly 6K to the positive in just a few months yeah so guys like this is just very much in the early Innings right this is we kind of looking at one quarter because almost all of October was even blocked even just to do the

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refresh in itself and this is just incredible to see these and I think what the most exciting thing I love to see about this is the slow season yeah and the shoulder season and I know a lot of our students and a lot of people that come in here saying how do I hedge off the slow season how do I make sure someone's booking my property this is it this is like one of the key things we found and we started launching hot tubs across more than one of our properties

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and we've just seen them what's getting booked first hot tubs with properties with hot tubs and they're getting booked at higher rates at premium rates in slow season so it is really hedging off and being competitive in the market so hope you enjoyed this video again we just wanted to show you things that we're currently doing in our own short-term rental business now to stay ahead of the curve you know be more competitive and also give a better experience to our

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guests so that ultimately we can charge more money and earn more income okay now if you like this content and you want to find out more about how you can earn more in come from your short-term rentals without having all the headaches and having this giant portfolio that takes a lot of time and energy to manage go ahead and hit subscribe hit the notification Bell and also leave us a comment in the box below and let us know what you thought of this video we made

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for you today and we want to hear from you guys all right thanks so much for joining us see you in the next video take care everyone