LAU's Director of Client Success flips the script and interview's Shawn on this weeks podcast.    Shelly surprised Shawn this week with a few questions of her own.  This was a fun episode that took a number of different turns that should be helpful as you navigate tackling any new challenges.  . The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets. . Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family. . For more content and expert advise, visit www.LifestyleAssetU.com

Meet Troy & Misti Petrie – They are from Denver, CO and they were looking for a plan to purchase their first vacation rental property back in August when I met them.  They loved hiking and skiing in the Colorado mountains and always thought of ways to purchase a property they could use that also gave them a great return. Troy and Misti have always been system and process oriented and they were looking for a system that they could follow to help them bridge the gap between having an idea of owning a profitable vacation rental to the reality of actually purchasing the property. Let’s break it down: Who? Troy & Misti Petrie Problem:  Unable to figure out all of the moving parts of purchasing, managing & marketing a profitable vacation rental.   Solution: Join the LAU Masterclass & Empire Club Coaching (my training program that shows you how to build a profitable portfolio of Lifestyle Assets.) Did It Work? Yep, Troy & Misti had their first Lifestyle Asset under contract within 14 days of joining LAU.  They closed 30 days later. Listen to this week's podcast of Misti sharing their journey. Here’s what I can tell you about Troy & Misti  They are hungry, driven, up for the work, and THEY LISTEN.  I’ve worked with thousands of people who say they want to build a portfolio of Lifestyle Assets, and I can tell you that the people who get results are always the best listeners and they take massive action. Most people listen with the intent to reply, Troy & Misti listen with the intent to understand. That understanding then turns into action, that action into results. . The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets. . Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family. . For more content and expert advise, visit www.LifestyleAssetUniversity.com

As you guys know, I am a HUGE fan of taking massive action. You’ve heard me say over and over that Action leads to Results and results lead to Momentum. However, massive action without a plan can lead to disaster. Action always leads to results. However, it doesn’t always lead to your desired result. I learned an embarrassing lesson in 7th grade about taking action without a plan, listen to the podcast to hear my story. I love action takers. I’ve always considered myself an action taker and sometimes it has gotten me in trouble. Many people in the VR world take action and purchase a property without a real plan for what to do after they own it. They know that there are platforms like Airbnb to help them and they figure that is all they need. Their investment is very market dependent. Sometimes it works out and sometimes it doesn’t. Compare that with the people who purchase a property with an acquisition plan to help analyze the location and property type.  Identify the profit potential and invest ability of the area they are looking for. They then have a specific management structure that fits their property and location as well as their needs. They know the details of who their target guest is and where they are coming from. They follow a plan to deliver a unique experience to that target guest. And finally they know every detail about how to market to that target guest and get them to book their home without the help of the OTA’s like Airbnb. They have a platform to follow up with all of their happy guests to generate repeat bookings and the list can go on and on.  Who do you think has a better chance to succeed and really maximize their investment? Obviously, the person that has a plan and pays attention to the details. My lesson for today is to have a plan, pay attention to the details of that plan and THEN take massive action following your plan. . The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets. . Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family. . For more content and expert advise, visit www.LifestyleAssetUniversity.com

I was listening to one of my favorite podcasts recently that pissed me off so much I almost turned it off.  You'll have to listen to hear the whole story.  Lets apply it to the VR world There is an evolution that takes place in any new adventure.  Mike Dillard has said that there are really only two ways to change your circumstances. 1. Acquiring new information and expanding your knowledge 2. Meeting new people and expanding your network Many people get into the VR game with one idea in mind and then end up evolving as their knowledge base expands as well as their network. We focus on three main areas inside of LAU, the Acquisition Phase, Set Up and Management Phase & the Marketing Phase. One phase is not more or less important that the other. We tend to begin and end with the acquisition phase in most real estate investing. However, VR are much closer related to a business than a real estate investment. If you only focus on the acquisition phase, your property will be very market dependent and you will continue to compete for customer acquisition in more and more saturated markets. This can feel like you are swimming upstream and depending on many outside influences that you have no control over. However, if you take it a few steps further, your business can evolve to be very self sustaining by focusing on the customer experience and customer retention which is way more enjoyable and where you have complete influence and control. Conceptually, many business owners and professionals understand this. They just haven’t applied it to their vacation rental business. This happen when you expand your knowledge base and your network to change your circumstances. . The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets. . Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family. . For more content and expert advise, visit www.LifestyleAssetUniversity.com

ARE YOU READY FOR MARKETING??? Identify 3 Major Outcomes – 1. Acquiring a property in the right location & property type.  2. Set up & management of your property to deliver a unique experience. 3. Maximizing your asset with turbocharged marketing. Rewind and Make Sure You Have Built A Solid Foundation WHY WE MARKET OUR PROPERTY OUTSIDE OF THE OTA’s… To Build A Business With Our Own Customer Base. Don’t complain about the OTA’s if you are not willing to do anything about it.  Your job is to build a customer base outside of the OTA’s if you really want long term success. PAID ADVERTISING VS ORGANIC Paid is predictable and scalable. COMMIT TO THE PROCESS Your marketing, even with a proven process, is making constant iterations. You need to commit to the entire process. DELIVER ON YOUR PROMISES Marketing is essentially making promises. You are making an offer to get a response. When you get a response, make sure you deliver. You should have a thoughtfully crafted customer journey that over delivers on all of the promises that you have made to your prospects. . The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets. . Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family. . For more content and expert advise, visit www.LifestyleAssetUniversity.com

Specialized Knowledge Builds Wealth. “Successful People in all callings never stop acquiring specialized knowledge related to their major purpose, business or profession.” – Napoleon Hill Real Estate is a Huge ocean. There are lots of different ways people make money in real estate. However, when you look at the most successful people, they have chosen to focus their attention to acquire specialized knowledge in a very specific area. STR are one specific vehicle in real estate. However, even though STR are a small niche in real estate, there are experts who make money in different ways within STR. In any game you play, if you want an unfair advantage, you need to specialize. So many people are looking for the magic pill or secret to success. There is no magic pill but there is most definitely a secret to success it’s just not what most people want to hear. The Secret to success is mastering a specific skill. Sound easy but mastery takes time and most people are not willing to put in that time. However, those that are willing will see success Knowledge leads to Action. Action leads to Results. Results lead to Momentum and that ultimately snowballs into massive success. Does it happen overnight – absolutely not. Most people over estimate what they can accomplish in 30 days but grossly under estimate what they can accomplish in a year. The time is going by one way or the other. Spend the time to master a specific skill and you will set yourself up for massive success. . The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets. . Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family. . For more content and expert advise, visit www.LifestyleAssetUniversity.com

Still the number one question that I get is: Where are the most profitable locations? I want to challenge you today to ask a different question. When you ask better questions you get better answers. Your short term rental is a long term investment and markets change over time. Publications love to promote the Top Location Lists because they know that's what people want to see.  However, those lists are like musical chairs. How do you identify the most profitable locations??? Most look at the ratio between Acquisition Price and Revenue generated by the property and that is a calculation of ANR and Occupancy. The problems is that those things changes all the time. I challenge you to ask different questions like: What makes a location or specific property type profitable? What are the major profit drivers in an area? What can I do to add profitability to the property? What can I do to market and stand out in a crowded marketplace? All of these questions will help you better determine the most profitable market for YOU. The best part is, there is not 1 or 10 or 100 great markets to own Vacation Rentals. There are thousands. There are pros and cons in every market but if you start to peel back the layers of the onion and really understand the profit drivers in a particular area you will not be dependent on what the market is doing to dictate your profitability. One of the best parts about VR as an investment is that we have the ability to maximize the profitability. . The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets. . Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family. . For more content and expert advise, visit www.LifestyleAssetUniversity.com

Meet one of our LAU Charter Members, KimBerly Keyton.  KimBerly is a full time real estate investor who focuses on multi-family properties.  KimBerly lives in Placerville, CA, she has an amazing story and a unique perspective on the short term rental industry.  KimBerly shares some of her insights and lessons learned from her years of experience in the real estate investing game.   . The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets. . Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family. . For more content and expert advise, visit www.LifestyleAssetUniversity.com

Meet one of our LAU Charter Members, Jeff & Jamie Child.  Jeff & Jamie join us to share some of their lessons learned in their first 12 months of getting into the vacation rental business.    Jeff and Jamie are from West Haven, UT and are just finishing up building 5 vacation rentals.  They sold an RV dealership this past year and are getting into vacation rental ownership full time as the next chapter of their lives.  There were some bumps in the road with the build job with many lessons along the way.  They have an amazing story to share about their journey getting to this point.   You can check out Jeff and Jamie's Lifestyle Asset at www.ZionVillage.com . The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets. . Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family. . For more content and expert advise, visit www.LifestyleAssetUniversity.com

Meet one of our LAU Charter Members, Jeff Weaver.  Jeff joins us to share some of their lessons learned in their first 6 months of vacation rental ownership.    Jeff and Jessica are from Atlanta, GA and purchased their first Lifestyle Asset in Destin, FL.  They hit the ground running and will conservatively make over $150k in revenue in their first year of ownership.  It was a wild ride with many lessons along the way.  They have an amazing story to share about their journey getting to this point.   You can check out Jeff and Jessica's Lifestyle Asset at www.DreamWeaverDestin.com . The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets. . Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family. . For more content and expert advise, visit www.LifestyleAssetUniversity.com

Meet one of our LAU Charter Members, Dave Sivulich.  Dave joins us to share some of his lessons learned in his first year of vacation rental ownership.    You can check out Dave's Lifestyle Asset at www.StargazerStGeorge.com . The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets. . Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family. . For more content and expert advise, visit www.LifestyleAssetUniversity.com

Over the last week the COVID-19 has heavily affected the way Americans operate. I’ve thought a lot about what that means for all of us – my family, our real estate community, our global community & our collective human family. Some of what is going on is unprecedented, most of which is out of our control. One thing that is within our control is how we react to the situation dealt to us. No matter what is going on around us, we have the freedom to choose how we react to this problem. It is never a good time to hit the panic button. We will get through this together. I’m not at all saying we should not be mindful of any potential risks. We should be mindful of our current reality and follow what the science based advise the CDC is telling us. I believe that the current recommendations will help slow the spread of the virus and allow our health care professionals to get ahead of the situation. First let’s talk about the obvious. The markets are a mess and that is going to affect real estate. How exactly? We don’t know. In the short term people may just wait and see how things shake out.

The #1 Question I Get – What are the most profitable locations to purchase Lifestyle Assets? There is no perfect area or property type. There are usually multiple opportunities in every market. The better questions to ask is, How do I identify the best opportunities within a specific area? There is not a One Size Fits All, but there are ways to identify if a particular property or location will be a good investment. There is not one Data Source that tells the whole story . 1. Start with Location - Pick an area you like - Identify the profit drivers in the area - Where are people coming from - What local attractions and events bring visitors - Is the area seasonal or year round - What do the occupancy and rental rates look like in the area . 2. Identify Property type - Riches are in the Niches. - Stay in your lane - Purchase what you know . 3. Understanding Different Neighborhoods - Neighborhood Demographics - HOA & Municipal Regulations - Purpose Build Communities VS Traditional Communities. Cross check all your data with all of your software tools & your dream team. . The Lifestyle Asset University and the Empire Club was formed to introduce you to the proven processes in Acquisition, Management & Marketing of your Lifestyle Assets. . Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family. . For more content and expert advise, visit www.LifestyleAssetUniversity.com

Steve Jobs died a billionaire, with a fortune of $7 billion, at the age of 56 from pancreatic cancer, and here are some of his last words... 👇👇👇 “In other eyes, my life is the essence of success, but aside from work, I have a little joy. And in the end, wealth is just a fact of life to which I am accustomed.” “At this moment, lying on the bed, sick and remembering all my life, I realize that all my recognition and wealth that I have is meaningless in the face of imminent death. You can hire someone to drive a car for you, make money for you – but you can not rent someone to carry the disease for you. One can find material things, but there is one thing that can not be found when it is lost – “LIFE”. ❤️ Treat yourself well, and cherish others. As we get older we are smarter, and we slowly realize that the watch is worth $30 or $300 – both of which show the same time. Whether we carry a purse worth $30 or $300 – the amount of money in the wallets are the same. Whether we drive a car worth $150,000, or a car worth $30,000 – the road and distance are the same, we reach the same destination. If we drink a bottle worth $300 or wine worth $10 – the “stroller” will be the same. If the house we live in is 300 square meters, or 3000 square meters – the loneliness is the same.” “Your true inner happiness does not come from the material things of this world. 🌍 Whether you’re flying first class, or economy class – if the plane crashes, you crash with it.” So, I hope you understand that when you have friends or someone to talk to – this is true happiness! ✅ 💥 Five Undeniable Facts 💥 1️⃣ Do not educate your children to be rich. Educate them to be happy. – So when they grow up they will know the value of things, not the price. 2️⃣ Eat your food as medicine, otherwise you will need to eat your medicine as food. 3️⃣ Whoever loves you will never leave you, even if he has 100 reasons to give up. He will always find one reason to hold on. 4️⃣ There is a big difference between being human and human being. 5️⃣ If you want to go fast – go alone! But if you want to go far – go together. And in conclusion... 👇 👨‍⚕️ The six best doctors in the world 👩‍⚕️ 1️⃣ Sunlight 2️⃣ Rest 3️⃣ Exercise 4️⃣ Diet 5️⃣ Self-confidence 6️⃣ Friends Keep them in all stages of life and enjoy a healthy life. 😊 Whichever stage in life we are at right now, with time, we will face the day when the curtain comes down. Treasure Love for your family, love for your spouse, love for your friends... Treat yourself well. Cherish others. 🎉 “Love the people God sent you, one day He’ll need them back.” . The Lifestyle Asset University and the Empire Club was formed to introduce you to the Experts in Acquisition, Legal, Finance & Management of your Lifestyle Assets. . Lifestyle Assets are more than just short-term vacation rentals.  Learn how you can build a portfolio of Lifestyle Assets that provide Lifestyle & Financial Freedom for you and your family. .  For more content and expert advise, visit www.LifestyleAssetUniversity.com