Ep 76 - What to Do While Your Under Contract on an STR Property

HOSTS' BIO Mike Sjogren is a short-term rental expert and coach. He has a portfolio of STR properties across 5 states as well as an oceanfront boutique hotel. Mike brings a wealth of finance, business, and real estate experience. He is passionate about helping others create financial independence through the real estate so they can pursue their passions and leave their mark on the world. Emanuele Pani is a Commercial and Residential Real Estate Consultant at Signature International Real Estate. Has a degree in accounting and finance. Started his real estate journey working as maintenance until the owner decided to sell the 40 unit apartment building to Emanuele. HIGHLIGHTS OF THE EPISODE 03:21 Steps to take while waiting for your STR property to close 04:09 The House Bucket 06:37 Leveraging your relationship with the real estate broker/agent 07:37 Being involved and doing your homework 09:00 Planning and doing things ahead of time 10:36 Speed to market 11:30 Parking situation of the STR property 11:50 The feel of the neighborhood 12:12 The Team Bucket 14:04 Planting seeds and getting referrals 15:30 Analyzing your competition 17:13 Asking the locals about the area 18:53 The Timeline Bucket 20:05 Working backward from the launch date 20:39 Thinking through logically 23:40 Recap 25:12 Leveraging technology 26:27 Difference of a new STR operator to a professional operator 27:26 Why contractors need to be referrals 28:05 Interviewing as many people as possible 29:15 Accountability on timeliness 30:27 Going back to your vision and creating processes 32:49 STR Secrets wrapping up 2021 33:29 Text "RESOURCES" to (978) 242-001 to get the STR Secrets Starter Pack for free NOTABLE QUOTES "You plan the work then you work the plan." - Emanuele Pani "The unforeseeable happens even if you plan the work." - Emanuele Pani "Put yourself through the exercise." - Emanuele Pani CONNECT WITH THE HOSTS Michael Sjogren: Short Term Rental Secrets Facebook Group | Clubhouse | Instagram | Youtube | Facebook Page | Linkedin https://linktr.ee/the_airbnbguy Emanuele Pani: Clubhouse | Instagram | Facebook | Linkedin FREE MASTERCLASS TRAINING - https://www.strsecrets.com/masterclass Learn more about your ad choices. Visit megaphone.fm/adchoices