There’s a lot of things that go into operating a rentals remotely from wherever we are in the world. But I’ve got a secret ingredient for you today that might trump all of them stay tuned let’s jump in.

Welcome to short-term rental riches will discuss investing in real estate with a specific focus on short term rentals quick actionable items to wire. Scale your portfolio I’m your host Tim Hubbard.

Welcome back to the short-term rental riches podcast I’m super excited about today’s topic I know I probably say that every episode but this one is really good I I have a a book that I just read that I have to share with you and share how it applies to our rental business story short term rentals to our life really and it really is one of the main secrets to operating our properties remotely from wherever we are in the world so let’s jump right in the book that I just finished I actually listen to the audio version which I would recommend because you get to hear some conversation in there question and answer but the book is called who not howl in its by Dan Sullivan and Benjamin hardy and it’s essentially asking us to think about who we can have to help us with our teams we can have to help us with our rentals are businesses in general instead of how we can do those things are how we can accomplish those things ourselves and this really is a big secret because obviously for a living far away from our rentals we cannot do all the house we are not there right so we have to have people to help us so I want to jump in I took a lot and now gets out of this book and I’m gonna share my favorites with you and and how I think it applies with our business and just I hope by the end of this episode it’s got you thinking how you might be able to change some things in your business and your life or with your Runnels band there’s there’s so many nuggets in this book but let’s just start off with one that if we find. The right who. The right team member the right person to help us with our business then the how becomes unnecessary the who will figure it out for us so we need to change master self how can I do this so who can help me achieve this goal who can help me with this and now that’s pretty hard to do because we’ve grown up our educational systems they’re all designed and trained for us to do things on our own right you don’t a lot of times you know at least when I was growing up we didn’t get to share homework he didn’t get the share tasks you know those are very individual we need to figure out how to do them how to come up with the answers but that’s not real life real life is about teams and if we limit ourselves to just our thinking and how we can do things well we’re gonna have a very very hard time expanding and we’re never gonna be able to expand to the point where we could if we have a great team with us so this is a totally different mindset and it’s necessary if you want to operate your Runnels remotely or if you really want to grow your business. So here’s a few lines that I just I I pulled out of the book how limits us to our own resources and time if we’re asking ourselves how can I do this how can I set up this new property and how can I go about doing the due diligence on this property how can I find a new housekeeper whatever it is for asking ourselves how old were automatically giving up our times so how do creases our freedom of time when we’re thinking that way now who is about getting our desired results as efficiently as possible and this isn’t about taking advantage of people or anything like that I’m gonna get to that a little bit later in the episode but who immediately connects you with more knowledge and capability we can grow so much larger if we have the right who’s around us and the right team who expands our vision of what is possible because we no longer see ourselves of the sole means of accomplishing whatever task or goal we set out to achieve with more people on the bus with more people on our team our vision will be bigger than we ever really a match and. My business has been growing pretty well I’d likely have had a lot of success with the rentals and likely have been able to achieve a lot of that remotely. I think part of that might be because I’m just like inherently trusting in other people so it’s been a little easier for me to turn to trust someone with with tassels maybe a little nervous about the beginning and you know if that’s worked against me a few times mmhm unfortunately but it’s definitely help me much more than it’s worked against me and there’s no way that I could be where I’m out right now or that my team could be where we are right now if we were all working together just just wouldn’t happen so you might think that you know by finding the right who that that you’re taking advantage of someone or something like that but the way they should work is that in the process of us finding the right who the right people for our team that we become there who. A lot of whose house here I know but hopefully that makes sense we hopefully find the right people to where we can help them grow as well. Hey just want to ask you guys real quick favor if you haven’t already left this review if you wouldn’t mind heading over to iTunes or Spotify wherever you’re listening to the podcast and just leave us a quick review we really really appreciate it and if you know someone that you think would find value in any of the episodes that you’ve listened to you could just take a screen shot send it over to that’ll help them but it’s also going to help us grow a little bit too and lastly we’re on YouTube so if you prefer you to you can head over to short term rental riches and you can find us there as well thanks for listening in and thanks for all your great feedback. Let’s jump back in. Another point I found really interesting in this book is they talked about procrastination and how procrastination is really just like an inner wisdom telling you that you are not the right person for the job that you’re not the right person for the task you’re putting it off for some reason or other and I know I do this with several pieces of my business and that’s probably because I just haven’t found the right who for that part of the business yet but think about that procrastination is really an interview with them telling you that you’re maybe not the right person to be doing that task in the cool thing about this is that when we find a who to help us with whatever this is whatever we’re procrastinating about chances are they’re much better at it than we are to you know the things that I procrastinate on are also the things that I I personally I don’t think I’m that good at so we can find people that are better at the things we don’t want to do and then enjoy it more than us some people don’t like numbers won’t that’s why we have accountants some people maybe don’t like dealing with gas well that’s why we have receptionist in people that do like dealing with gas and customer service so up for anything that you’re procrastinate just just think about it there will be someone else out there that enjoys doing what you don’t want to do more than you do and will be better than you at it now you might be thinking that yeah Tim this all sounds great easy peasy I can’t afford to hire the right people or I don’t have the extra funds but a lot of times it’s it’s that we can’t afford not to hire this person they help us grow faster than we could by ourselves save time and save money so many times I’ve worked with people that maybe costs a little more in their profession but in the end everything went super smooth there was no stray. S. and it ended up better than had I gone with a cheaper version or something like that so just keep that in mind a lot of times we can’t afford not to hire the right person and a lot of people starting now this first person might be your virtual assistance when you have helping you but I guarantee you when you find that right person they’re going to help you make more money and they’re gonna save so much time for you and they’re going to be good at doing a lot of the things that you maybe don’t like doing. So there are some caveats to this you know as we’re building our teams and we’re we’re finding our who’s and one of the big ones I took away from the book and this totally rings true is that if we look at people on our team as costs you know it costs this much per hour cost this much per year or whatever it is they’re going to recognize that that we see them as a cost so we need to switch from that and we need to switch to thinking about them or the whose or the people on our team as an investment because investments help us both grow we invest in them and by investing in them it helps our business grow they become our who and we can become there whom we all grow together it’s hard not to do you know I mean if you have a position that you’re hiring for and you’re not currently paying anyone for that position well that it’s hard not to think about those costs but just try to think about it as an investment in the benefit that you can get from it now just because we find that the right who doesn’t mean that we don’t need boundaries in the book one of the great points that they make is that you can have the right who but if you don’t have vision of clarity where you’re going where your company is going what goals you have well then performance can actually go down if you were giving the who’s the people on your team more autonomy more autonomy to make their own decisions there still needs to be some clarity of vision of where we’re all headed together and there needs to be some review to make sure that we’re all on the same page and review with our short term rentals that can come down simply to the reviews that we’re getting from our gas and we can relay that information back to our team so keep that in mind there needs to be some review I like to do video calls with my team now on soon I think you know you can have a 10 minute phone call. Asian or you can have a 10 minute zoom video call and I think the video call if you’re operating remotely or you’re looking for team members another place can be much much more effective it’s going to allow you to continue building your relationship I think a lot faster than just a simple phone call so make sure you have some vision with your goals clarity where you’re going with your properties with your management with your gas management with your apartment set ups with all of that have some clarity and have a way to review that regularly many wise investors I’ve I’ve heard time and time again they’ll say that you know in real estate they would actually prefer a B. class property with a class management then in a class property with B. class management it really comes down to the people that we work with the people we surround ourselves with and how our whole team interacts so the next time you’re looking to fill position or the next time you discover you’re procrastinating on the same thing all the time think about it there might be a person that will fit in this role and together you guys can achieve way more than you could buy yourself I hope you got some tips on this check out the book it’s called who not how by Dan Sullivan and Benjamin hardy will put a link in the show notes of course total game changer download the audio book check it out and until next time have a wonderful day. There’s so much money to be made the short term rentals but it all starts by having the right property if you guys haven’t yet seen my free ebook on our website rest methods.com head over there and get a copy it’s going to break down what I look for in a property in some great short cuts so that you don’t have to spend hours and hours researching at over rest methods.com and you can grab your free copy there if you want a crash course in everything I’ve really learned to short term rentals in over 5 years managing over 15000 Gasol recorded on our last live event and I’m happy to say we broke it down really nicely into a bunch of different modules that you can watch at your own pace it takes you from start to finish finding a property we talk about analyzing the property but then also some of the more important pieces how to find your team and how to set up everything so that you can run your operation is passively as possible and free up your time you can find that it rests methods.com forward slash virtual.

RELATED PODCAST EPISODES

• Episode 62: Professional Tax Advice From My CPA – Part 2
• Episode 50: The REAL Secret to Accomplishing Anything (Special 50th Episode)
• Episode 33: When Should You Put Your Properties in an LLC‪?‬‬
• Episode 38: Is a Short Term Rental the Best Use for Your Real Estate‪?‬
Episode 19: Where do we stand in the current crisis?‬