PROFIT FIRST

FOR REAL ESTATE INVESTORS

PODCAST

Have a Profit First Story to Tell? Be on our Podcast!

profit first for real estate investors

  • David Richter Talks with Tim Hubbard

Stop Leaving Money on the Table with Your Long Term Rental

June 16, 2026

Subscribe

Links & Resources

Show Notes

What happens when you run the numbers on the Airbnb you're staying in and realize it beats every turnkey rental you toured that day? For Tim Hubbard, it meant walking away from the long term rental deal he flew to Tennessee to find, buying a historic eight-unit apartment building instead, and converting it to short term rentals. That single property went on to earn roughly eight times what it produced as a long term rental, and it set him free.

In this episode, host David Richter sits down with Tim to trace the whole journey: discovering Rich Dad Poor Dad nearly 20 years ago, fighting through loan denials as a 1099 contractor to buy a foreclosure fourplex in downtown Sacramento in 2010, house hacking one unit while the other three covered the bills, and 1031 exchanging his way into bigger buildings and better markets.

Today Tim runs roughly 65 units, 45 of them short term rentals, from South America, where he's lived for nearly a decade, first in Colombia and now in Brazil. He's also weeks away from opening the first phase of a boutique resort in Colombia and leads Corzly, a core operating center that handles revenue management, 24/7 guest communication, and marketing for short term rental owners and property managers in more than 40 cities.

Tim doesn't sugarcoat the 2026 short term rental market: it's more competitive, guest expectations are higher, and owners still pricing like it's two years ago aren't getting booked. This conversation is a masterclass in reading supply and demand, finding the luxury edge, and building operations that let the profit actually reach you.

Episode Highlights

[1:01] – David welcomes Tim Hubbard, short term rental investor and host of Short Term Rental Riches

[1:50] – Discovering Rich Dad Poor Dad young and buying a first property within about two years

[3:50] – The 2010 foreclosure fourplex in downtown Sacramento: FHA loan, 1099 income, and repeated denials

[5:16] – House hacking one unit, renting out three, and cash flowing from day one

[6:25] – 1031 exchanging four units into nine in a better appreciating out-of-state market

[6:59] – The Tennessee light bulb: the Airbnb he rented penciled far better than the turnkey rentals he toured

[7:43] – Buying a historic eight-unit building and spending a year converting it to short term rentals

[9:12] – The eight unit that earned eight times more and funded a move to South America

[10:19] – Tim's 2026 portfolio: 65 units, 45 short term rentals, and a boutique resort under construction in Colombia

[11:58] – How managing properties virtually from abroad grew into Corzly, now operating in over 40 cities

[13:21] – Why centralized revenue management and 24/7 guest teams beat hiring locally for small portfolios

[17:13] – The seasonal hybrid play: nightly rates in high season, monthly rentals in the off season

[18:14] – Tim's biggest lessons: leave for better returns, and think twice before long-timeline projects

[20:43] – Advice for new investors: verify supply and demand with a tool like AirDNA before buying anything

[22:25] – Why unique luxury properties now have more upside and more recession resistance than commodity rentals

[24:31] – Reviews, visibility, and dynamic pricing: the operational levers that can double revenue

Closing Remarks

Tim Hubbard built the kind of business most investors say they want: a portfolio that runs without him in the room, from another continent, with profit that funds the life he actually chose. But as David points out, Tim didn't just make that money, he knew how to keep it, and he knew what every property was earning. If you're closing deals but still feeling broke, that's the gap Simple CFO exists to close. Subscribe, review, and share this episode, and if you're serious about financial systems and keeping more of your profit, visit https://simplecfo.com to take your free discovery call today.

Key Takeaways

1. The same property can earn dramatically more under a different strategy; Tim's eight-unit building produced roughly eight times more as short term rentals than it did with long term tenants.

2. Invest where the numbers make sense, not where you happen to live; leaving California for out-of-state returns is the decision Tim credits with setting him free.

3. Before buying a short term rental in 2026, study supply and demand with a tool like AirDNA, and avoid markets where average revenue is falling while purchase prices stay high.

4. The market is inefficient enough that two identical properties next door to each other can have double the revenue gap; strong reviews drive visibility, and dynamic pricing tools like PriceLabs or Wheelhouse are now mandatory to compete.

5. Core operations like revenue management and around-the-clock guest communication don't belong in-house for small portfolios; centralizing them is the same logic as hiring a fractional CFO instead of a full-time one.

Transcript

00;00;09;21 - 00;00;34;02

Unknown

Welcome to the Profit First for Real Estate Investing podcast. Every week we bring you top investors and experts sharing how they create clarity, cash flow and consistent profit. This episode is brought to you by simple CFO. Profit first. Profit always lets go. The reality in the industry is that it's gotten more competitive, and guest expectations are much higher than they've ever been, so it's gotten much more difficult.


00;00;34;04 - 00;00;54;29

Unknown

And so if you haven't gotten a property yet, I would make certain that you understand the fundamentals in the market just from a supply and demand perspective. And you can go to a tool like RDNA or, and you can see how many new units have entered into a city or a market. And then you can also see what the average occupancy and revenue is for those properties.


00;00;54;29 - 00;01;16;00

Unknown

So I just make sure that you're getting into a market where that average revenue is not going down, because prices haven't gone down. Welcome back to the Profit First Aria podcast. I'm the host, David Richter, and I have Tim Hubbard here today, which I got to know Tim here recently. And it just is very cool what he's got going on.


00;01;16;00 - 00;01;32;24

Unknown

And I wanted to be able to, at least wherever you are, if you're thinking about short term, long term, mid-term, whatever. Now, Tim, it sounds like you focus on short term, but you have experience in a lot of different industries in the real estate space. So I'm excited to dive into your story more. But thanks for being on the show today.


00;01;32;25 - 00;01;50;07

Unknown

Yeah, thanks for having me on. Looking forward to it. Awesome. Yeah. Well then let's dive into it. Like, okay. Real estate. Real estate is great, but people usually have a story that got them into real estate or like, why did you go down that real estate road? Was there some, well, light bulb moment? Was it a family thing or was it just something Tim said?


00;01;50;08 - 00;02;10;18

Unknown

Yes, I want real estate and I love it. So what was that story like? I discovered rich, sad, poor dad, the, you know, the little purple book, like millions of other people out there. And fortunately I discovered it when I was quite young. And so I started down the the real estate path while I was working in other jobs.


00;02;10;22 - 00;02;30;22

Unknown

I started with long term rentals, and I was doing quite well with long term rentals, and I was traveling a lot. I was staying in short term rentals, and a little over a decade ago, I realized that there was a lot more potential for cash flow with short term rentals than there were my long term rentals. And so I, I shifted focuses.


00;02;30;23 - 00;02;56;11

Unknown

I, you know, I'm focused specifically on short term rentals over the last decade plus, although I still operate other types of properties. And yeah, it's been it's been quite a journey. So how long ago did you read Rich dad, poor dad? Oh, man. Almost 20 years ago, maybe. When did you buy your first property? After reading the book.


00;02;56;14 - 00;03;16;13

Unknown

Maybe it was like two years or a year and a half. So that was pretty cool. Yeah, that's. Yeah, that's pretty quick because some people read it, then it's like, oh, they, they call back to it. But now that sounds like our journeys are very similar. I was I read Rich at port in college and then, you know, like within two years had my first rental and then had another one after that.


00;03;16;13 - 00;03;34;09

Unknown

So sounds like you went down that road. Okay. You kind of went through okay. You built some long term and then short term is better. But I do want to ask you bought that first house. What was that like. Like how did you feel about buying it. Sounds like you've been in the W2 world. And it's like then you're reading Rich dad, poor, poor dad and your mindset is shifting.


00;03;34;09 - 00;03;50;08

Unknown

And then you're like, okay. Did you know where to start? How did you even get that first deal? Because I'm also very interested because like 20 years ago, the market was a lot different, you know, than it is today. So did you find it directly seller? Did you find it off the HUD Home Store? Like we were doing lots of deals back in the day.


00;03;50;08 - 00;04;09;01

Unknown

So like, how'd you find that first deal? Yeah. So it was a foreclosure. So I guess I got my first property in 2010. So I guess that was, what, 16 years ago? So not quite 16. That's the. Yeah. But still that's almost, you know, to the 20 year mark, which is a little scary at this point. I know 10 to 16 years ago.


00;04;09;01 - 00;04;30;02

Unknown

So okay. So 16 years ago. So I you know, David, I really lucked out with timing. I mean, I actually wanted to get a property before the moment that I did. And that was like 2008, 2009. Right? Right. When everything was cracked. And and so I got lucky with the timing. And the first property I got was a fork, like, so, you know, I used an a loan.


00;04;30;02 - 00;04;52;01

Unknown

I was not working a W-2 job, actually. And so getting a loan was very difficult. I was a contractor selling software for automotive shops, so completely unrelated. And then I was also working with a commercial broker, neither of which were W-2 jobs. But I managed to get a loan 1099 contracting type things with. Okay, so it was even more difficult.


00;04;52;02 - 00;05;16;16

Unknown

It was really. Yeah, I got denied a lot. And I also got beat out by a lot of investors paying cash on the foreclosures that I was trying to trying to purchase. You know, they didn't want to deal with FHA loans and stuff, but I managed to get one. It was a four plex downtown Sacramento where I'm from originally, and I lived in one of the units.


00;05;16;16 - 00;05;39;14

Unknown

I rented out the other three, and I was cash flowing from day one. And it's okay. Do you still have that property in your portfolio? I've sold about one sense. Yeah, I actually did you sell it? When did you sell? I need to know this. Yeah, I sold that one maybe like 5 or 6 years ago. But do you know what it's worth today?


00;05;39;15 - 00;05;57;17

Unknown

Like, do you regret selling that first property? Because I'm sure it went up crazy in value. It did go up a lot, and I did. I did really well on the cell. And I have another four plex still in downtown Sacramento. That was very near that one that I've held on to. It still operates a short someone alive.


00;05;57;19 - 00;06;25;20

Unknown

Awesome. Very cool. And that one, you know, I rolled into bigger and I wouldn't say like better properties but bigger properties. You know, I did a 1031 exchange and, you know, rolled four units into nine units and another property that's appreciated really well in a different area. So yeah, I wouldn't say I regretted it was a good, good move at the time to just deploy some funds in order in another state actually, where I know, and that's awesome.


00;06;25;20 - 00;06;43;19

Unknown

It sounds like you actually used it for a better investment because some people are like it. You know, I sold these things off that I bought in 2010 through like 2015, and then they sold them and they're like, oh, I should have never have sold those things off. So good. I'm glad you at least rolled it into the next, but sounds like you had the light bulb moment at some point.


00;06;43;19 - 00;06;59;22

Unknown

What was the lightbulb moment for you when you went from long term rentals to short term rentals? Was there, I don't know, a book, a conference. You just said, oh, this thing looks awesome on there. Like, I, I need to check one out. Like, how did you get that experience of Bertram Rentals? There was a light bulb moment for sure.


00;06;59;23 - 00;07;24;06

Unknown

I was, so I had started looking in other states for long term rental investments because the numbers in California just weren't working that well anymore. And so I went to Tennessee and I was touring around, meeting with brokers and property management companies, looking at these turnkey rental investments. You know, properties were renovated, ready to go. And I had rented an Airbnb in that city while I did my research.


00;07;24;10 - 00;07;43;19

Unknown

And after touring a bunch of the properties and getting back to the Airbnb, which I knew what I was paying because I rented it, I. I looked up the purchase price of the Airbnb I was staying in, which was basically a brand new construction, and the numbers were way better based on what I was renting it. I mean like way, way better.


00;07;43;19 - 00;08;07;24

Unknown

And so I decided not to get the long term rentals, and instead I purchased an eight unit apartment building in a really good area that was all rented as long term rentals, but with the goal of converting them all in the short term rentals. And so it was a historic building I spent about a year renovating that set it all up for short term rentals and haven't really looked back after that.


00;08;07;25 - 00;08;29;03

Unknown

You know, that one worked really well and I ended up doing more and branched out, and I eventually moved out of the US. So I've lived in South America like the last eight years or nine years now, and I was managing all my properties virtually. And so I started a podcast, Short Term Rental Riches, sort of talking about that journey.


00;08;29;05 - 00;08;47;01

Unknown

And then, yeah, that's kind of where we're at today. We work with people all over. It's been. So if you're liking what Tim saying so far, he has a website for that podcast stretches. Com so if you want to go there and put it on the screen, if you're on YouTube, if not, then just go to the website.


00;08;47;03 - 00;09;12;06

Unknown

That's his podcast, which sounds like you've got a lot of experience here and you're living out like it sounds like financial freedom, like you've moved from, you know, the states here to living in South America. And I don't know, did you always want to live in South America? Was this like once you got a certain amount of houses, you live in South America or passive income or like Airbnb income, you know, or short term, like what made you move?


00;09;12;08 - 00;09;32;27

Unknown

Yeah. So after that eight unit building, you know, that pretty much set me free. I mean, that that property was earning like eight times more than it was as a long term rental. I mean, it was incredible, you know, and and I had the properties already in Sacramento. And so things were pretty good. And I was just traveling quite a lot.


00;09;32;27 - 00;09;58;10

Unknown

And I, I really liked Columbia. So I kept going back to Columbia and then decided to just make it more permanent and ended up getting a place down there. And gosh, it's been a long time since then. I now spend most of the time in Brazil where I met my wife. So, but still definitely heavily involved with real estate and, and excited about, you know, our operations and what we're doing with with all of that.


00;09;58;12 - 00;10;19;25

Unknown

So yeah, that's awesome. And I love that you were able to do that. Sounds like that one eight building unit sets you free with especially eight times the amount of rent on, you know, or eight times the bottom line, whatever it was for, you know, like for that one property. But then you built a portfolio and it sounds like you've also 1031 exchange into bigger buildings like your portfolio today.


00;10;19;25 - 00;10;46;20

Unknown

Is it still mainly short term rentals or what does it look like in 2026 while we're recording this? Yeah, I've got around like 65 units. Most of them are small multifamily, 45 or short term rentals. Oh wow. So yeah, big percentage. Each percentage have. Yeah. That's basically where it's at. We we are building a boutique resort in Columbia.


00;10;46;21 - 00;11;01;21

Unknown

Oh cool that I've been working on the last three years. So that's a brand new venture. Well, I don't want to say it's brand new because we've been working on it for three years, but it's, you know, that's it's a new venture. I've never done new construction before. And we're hoping to launch this first units maybe in like a few weeks.


00;11;01;21 - 00;11;23;09

Unknown

So yeah. That's where yeah, that's what it looks like today. New construction and sort of a mix of short term long term okay. This is great. Sounds like you've got not just a ton of experience, but you've also been able to leverage it into what you really want to do. And that's that's the whole profit first mindset. Like making sure your profit actually points towards like what freedom means for you.


00;11;23;09 - 00;11;39;24

Unknown

And it sounds like living in Colombia and then traveling to Brazil. And then I finding your wife like it gave you more opportunities than just, you know, staying there in the States and just, you know, like doing the work day to day or being the 1099 contractor for the rest of your life. So sounds like that was a great move.


00;11;39;24 - 00;11;58;05

Unknown

I did want to ask. You've got this. If you're just listening to this. Tim has a really cool background. I know it's just like an image behind it, but it's got Causley on it. So tell us about Causley. How did this come into play? How did you what is this company like? This is obviously another big thing that you are involved in as well too.


00;11;58;08 - 00;12;17;27

Unknown

Yeah. So I started managing all my properties virtually. You know, obviously I had people helping me virtually and on the ground and really honed things in. And, you know, my properties were performing really well. And a lot of people through the podcast were reaching out and saying, hey, can you help us with our short term rental? Can you help me with mine?


00;12;17;27 - 00;12;53;18

Unknown

And that wasn't the original intention, but my team had gotten big enough to where it made sense, like we had extra capacity. And so we started doing that. And fast forward today, it's been about three years since we started doing that. Now we manage properties in over 40 cities, and the whole idea behind Causley, which is the name of our company, is that we are this core operating center on the back end of someone's short term rental or Airbnb or, you know, their investments, handling all the pricing decisions, talking with all the guests, marketing the property and all the right places.


00;12;53;25 - 00;13;21;14

Unknown

And we've managed tens of thousands of guests. So we're in a really good position to do it. And what I realized with my personal property portfolio is that you don't need to have these core operations. They're locally like actually, they're, you know, they're much better centralized because we can share resources, you know, for a for an individual owner or for a small portfolio to hire a revenue manager and to have a 24 over seven guest experience team.


00;13;21;14 - 00;13;46;23

Unknown

And, you know, people that truly understand the marketing and how to optimize the properties, it just doesn't make financial sense. And it didn't for me, you know, when I was growing my portfolio. And so now, yeah, that's where we're at. And we it's been a lot of fun. All right. I have to pause the episode real quick. If you're a real estate investor who's tired of wondered where your money is going or why you're closing deals, but still feeling broke, you need to talk to simple CFO.


00;13;46;26 - 00;14;08;01

Unknown

Simple CFO is profit first certified and fully endorsed by Mike McCall. It's the creator of Profit First himself. Our team specializes in helping real estate investors finally get control of their cash flow. So you keep more money, you pay yourself consistently and build a business that doesn't run on chaos. We'll help you implement the profit first system the right way.


00;14;08;02 - 00;14;29;26

Unknown

Set the financial processes you've been missing and give you a dedicated fractional CFO who actually understands investing and keeping track of your numbers on flips, wholesales, rentals, private lending, all of it. So if you want predictable profit instead of living, deal to deal, head over to simple CFO. Com and book your financial clarity call today. That's simple CFO.


00;14;29;26 - 00;14;51;20

Unknown

Com stop living in confusion and start keeping the money you work so hard to earn. Now back to the episode. Wow! So that coarsely is like the whole back end system, but that sounds like you've got front end marketing systems too. So you'll get the property out there and you'll do that, but then you'll also handle, you know, the communication on the back end and that type of thing as well too, for the short term rental market.


00;14;51;22 - 00;15;15;13

Unknown

Correct. Exactly. Yeah. I mean, it's from from beginning to end. You know, a lot of the marketing we leverage the, the OTAs or the online travel agencies like Airbnb and Booking.com, but there's a bit of a science to to maximize invisibility on those as well. Okay. Now that's awesome. So you both the software, it sounds like out of a need that you had and then like okay, I need this and be able to do this.


00;15;15;13 - 00;15;37;09

Unknown

So now who would be a good person to use your system? Someone that has one property, someone that has ten. Someone that has a thousand, like who would you say cause good for in the short term space. Yeah. We work with small property managers, so an individual. Totally. Okay. But but small property managers as well with dozens of properties.


00;15;37;10 - 00;15;55;22

Unknown

I mean really like there's lots of bottlenecks as you grow your portfolio. And it's not until you get to like a couple hundred units sometimes where a lot of that, you know, like maybe it's a market that's really seasonal, you know, where they make all their money in half the year doesn't make sense to hire a whole team.


00;15;55;22 - 00;16;17;27

Unknown

And then half the year the teams just kind of sitting there. So yeah, we're working with with larger portfolios today and that's sort of our focus. And we are we're a blend, you know. So we've got we use all what we believe are the industry leading software tools. We've built some of our own technology on the back end, but at the end of the day, we're a human and technology company.


00;16;17;27 - 00;16;52;24

Unknown

Like we we have both. Awesome. And if you're looking for this, it's coarsely com cause. So that's where you can find Tim's software. And it's not just soccer. It's like an end to end system. It's like getting you to make sure that you are the business owner, that you want to be, not having to hire a bunch more people and being able to take care of what wherever you are in your portfolio and sounds like Tim, this is for if you're a mom and pop shop, or if you're a property manager and you've got lots and lots of properties that you're managing now, I did want to ask, is this just for short term, or


00;16;52;24 - 00;17;13;19

Unknown

is this also manage long term mid-term? Or I just wondered if this just covers the short term market? We're focused mainly on short term. We don't do long term, but we find because it's sort of this gray area, you know, where a lot of the properties that we have, you know, let's take a seasonal one, for example.


00;17;13;19 - 00;17;29;23

Unknown

Maybe in the high season and dust in Florida, you want to be renting by the night because that's where you maximize your revenue. But in the off season, you want to rent by the month because there's less people traveling and there's still lots of people that want to rent by the month. So we have quite a few properties that sort of fit that hybrid.


00;17;29;24 - 00;17;51;02

Unknown

And then we have some that are just specifically mid term rentals. And so we do both mid term rental and short term rental. But I'd say short term rentals is our primary focus. That's the primary focus. Awesome. So that's coarsely com cause I'll put it back on the screen here. If you're watching this that's where you can go there to see if this would be the right fit for you.


00;17;51;02 - 00;18;14;04

Unknown

It sounds like it's not just all AI. You've got actual human beings as well that you've got on the team, which is incredible. It seems like that's going away more and more every day with all the stuff that's being pumped out there, which I think is great. I love for your software to be able to incorporate both. Then I guess I just have a few last questions for you on your real estate journey.


00;18;14;04 - 00;18;45;20

Unknown

Is there anything you wish you would have done or something that you're so glad that you did? You know, I either end of that spectrum. Yeah, I think I'm really glad that I, I branched out of California and looking for better returns because that just. Yeah, that set me free basically, you know, like those options weren't available. So I think as an investor, like we always want to invest where the numbers make the most sense.


00;18;45;23 - 00;18;51;03

Unknown

Yeah. And so I'm glad I did that.


00;18;51;06 - 00;19;13;00

Unknown

What was the other part of the question. Sorry, David. The other part was just is there something that you wish you would not have done, or that maybe that you wish you would have known sooner or something? I don't know anything on those lines. Yeah. So it's interesting, you know, when I started the construction project in, in Colombia, I didn't know that I was going to end up spending most of my time in Brazil.


00;19;13;00 - 00;19;44;25

Unknown

And so now, years later, it's taken a long time to go through that. Yeah, I wish I had I don't know how I would have known that, but it's more challenging now because I'm not leaving there in Colombia. So I think if you're getting into a project or something that has a really long timeline or potentially could have a really long time line, I think knowing this now, I would think through that a little bit more clearly and decide if, you know, I wasn't living there, if that was still something that I would want to do, right.


00;19;44;25 - 00;20;03;20

Unknown

Those long term projects, right can be a nightmare, especially if you aren't living there or things change in circumstances because yeah, three years. That's quite a bit, you know, to get something across the finish line. Is there an end in sight on that project? There is. Yeah. We're like, okay, literally a couple weeks from opening the doors for the first units.


00;20;03;20 - 00;20;23;16

Unknown

And I think within a year there's three phases of the project. I think within a year we should be hopefully wrapping up with the other phases. Okay, cool. Well very cool then as far as short term goes because that's really been sounds like you're focused for a long time. And the focus of most of your portfolio is still.


00;20;23;17 - 00;20;43;14

Unknown

Are there any tips that you would give someone if they're thinking about getting into the short term space that you're just like, okay, you got to think about this or whatever tips that you would give specifically? Yeah, if someone's thinking of getting into the space and they haven't yet got their property. I mean, the reality in the industry is that it's gotten more competitive.


00;20;43;14 - 00;21;04;28

Unknown

And guess expectations are much higher than they've ever been. So it's gotten much more difficult. And so if you haven't gotten a property yet, I would make certain that you understand the fundamentals in the market just from a supply and demand perspective. And you can go to a tool like, oh, and you can see how many new units have entered into a city or a market.


00;21;05;01 - 00;21;24;03

Unknown

And then you can also see what the average occupancy and revenue is for those properties. So I'd just make sure that you're getting into a market where that average revenue is not going down, you know, because prices haven't gone down. So that just means the returns are lower. So that would be my my main advice for anyone that hasn't got in.


00;21;24;03 - 00;21;40;05

Unknown

But, you know, one sort of side note to short term rentals is that there are a lot of fun, like a lot of people buy them because they actually spend time in them. And so and there's some great tax benefits and things that you can get from short term rentals that are harder to get with with long term rentals.


00;21;40;05 - 00;22;05;26

Unknown

So I would decide first, yeah, if you plan on using it as a personal investment, if you don't, then I would just look at the numbers and I would just look at the supply and demand in a market before making a decision. Is there anything on your journey you've learned about short term rentals that you wish you would have known sooner, or that you would want to impart to someone here where maybe they are they have some short term rentals and you're like, you know what?


00;22;05;27 - 00;22;25;10

Unknown

Upgrading from the two units to eight units was the best decision ever. Or, I don't know, like, was there anything for you that kind of turned that corner? Well, you know, when I got in, I was I had converted long term rentals to short term rentals, which have way less barriers to entry. You know what I mean? There.


00;22;25;10 - 00;22;50;15

Unknown

There's way more of them out there. What I know now, today and after millions of properties have been added to the to the supply to the market, is that the luxury properties have way more room for potential if they're if they're unique, you know, and that's what we're seeing today. They're also less affected by like downturns in the economy.


00;22;50;18 - 00;23;00;29

Unknown

But there's a little more risk because it's a bigger investment decision. So right, if someone's out there and they do have the means.


00;23;01;01 - 00;23;28;27

Unknown

In today's market, I think there's more opportunity on the luxury end of things than like a commodity type property that's, you know, there's a lot of similar properties. Okay. So someone's looking to go into Airbnb. They could say, okay, well let me look at Naco first to see if it's oversaturated and what the supply and demand is. And maybe like a second subset would be like, okay, is it is there a high end area and what is the luxury market doing here and is there a market for it?


00;23;28;27 - 00;23;56;07

Unknown

And what is my risk there? If I go into that market and, you know, if they have some of the other pieces of real estate lining up the funding and all that and, you know, getting it all taken care of, I like that. So then it's adding another layer to that research as well too. And if you do have Airbnbs, is there anything, any advice you would give to the current Airbnb or a short term rental owners you know out there that you know that you would say, okay, you got to look into this or look into that, obviously coarsely look into their software.


00;23;56;07 - 00;24;14;06

Unknown

If you're just running around like a chicken with your head cut off and you're not, you don't know where everything's going. But anything for people that maybe are in saturated markets or how would they, how would they either either get better or better returns? Or would you say, you know, if you're a saturated market, try and sell and get to a different one?


00;24;14;06 - 00;24;31;13

Unknown

I don't know. What would you say to current short term rental owners? Well, the the current market still really inefficient. So you can have two properties right next to each other. And if one's operating really well and has good reviews, it can literally earn twice as much as the one next door. So I would say that's the first thing.


00;24;31;14 - 00;24;59;07

Unknown

Just make sure your operations are in a really good place so that you're getting really good reviews because you get really good reviews, then you're going to have more visibility and then you have more potential for for earning more money. But there's caveat is that just having good reviews doesn't mean that you're optimizing the property. And so you do really need to have some insight on what your markets doing, what they're charging.


00;24;59;11 - 00;25;23;00

Unknown

You know, when people are making those reservations, how far in advance what the occupancy is. So if you aren't using a dynamic pricing tool, you know, there's ones like Price Labs or Wheelhouse. I highly, highly recommend you basically have to use one of those now to be competitive, but then you also need to know pretty deeply, you know, kind of how to maximize it after that.


00;25;23;00 - 00;25;43;03

Unknown

So maximize reviews and really understand your market, because a lot of people in today's market are still trying to charge what they were charging two years ago, and they're not getting booked. And it's really a supply and demand thing. Like they're probably priced too high. Unfortunately. Yeah. Okay. Well I this is great advice if you're listening to this.


00;25;43;03 - 00;26;05;15

Unknown

So if you want to hear more about Tim's advisor things that he's talking about here, he's got his podcast STR riches. Com so short term rental riches. Com str riches I'm putting that back out there for you. And then of course the other thing that he has what what do you call it. Business management software. Or like what's the official term for Causley.


00;26;05;17 - 00;26;29;02

Unknown

Com. Well we actually become like your core operating centers. So we are a human team taking over the operation. But we use the the leading software in the industry and we set it all up for you. So it's really a hybrid mix between it's it's just a team that takes over all that core operation. So so you've got the team and you've got the software.


00;26;29;02 - 00;26;47;17

Unknown

So it's like you got the double pronged approach here where if you can't, it's like hiring a fractional CFO. It's like you get someone there for a hat. You know, they're not as much as hiring a full time person, but you're going to have someone there that's going to help you get to the bookings, the guest, you know, setting this all, it sounds like you help them set it all up to, which is incredible.


00;26;47;17 - 00;27;12;17

Unknown

So if you are looking into that, that's coarsely com crazy. Why now? This has been awesome Tim, I appreciate that our stories have taken lots of similar turns. It sounds like what I really liked was how you said that short term rentals and just this whole industry has helped you gain that freedom. You've lived in Columbia, you've now living in Brazil, now being able to explore, you know, and like that's what that financial freedom comes from.


00;27;12;17 - 00;27;25;04

Unknown

So if you're listening to this and you're like, I need to taste that. Well, Tim had to keep that money too. He didn't just have to make it. He had to know how to keep it. He had to know what he was making on each property. He had to make sure he didn't have a bunch of stinkers that were putting him in the red.


00;27;25;04 - 00;27;41;17

Unknown

If you need that help and you need that back end for the finances, that's what we do. Simple CFO. Com we want to make sure that you know where your dollars are going and how we can help you. That's what we can do to make sure you have a great story like Tim's. And that you can wake up in a different country one day if that's your goal as well too.


00;27;41;18 - 00;28;01;29

Unknown

So, Tim, thank you again. Any last minute things that you want to say before we end? No, I it was it was a pleasure being on David. And thanks for all the content you put out there. Awesome. And Tim, thanks for being on and being a great guest. And if you're listening to this, make sure to make profit a habit in your business and not just an event.


00;28;02;01 - 00;28;13;28

Unknown

That's it for today's show. Be sure to subscribe, review and share this episode. If you're serious about financial systems and keeping more of your profit, visit simplecfo.com to take your free discovery call today.

How to Get Profit First in Your Business

Let's Find Your Lost Profit and Get You Making More Money with Profit First!

The Only Thing You Have to Lose is the Profit You're Already Losing!