How To Scale Successfully in Short-Term Rentals w/ Thomas Morey

This episode of the Short Term Rental Pros podcast features an in-depth conversation with Jeremy Werden and young entrepreneur Thomas Morey, detailing Thomas's journey in the short term rental business. Starting during his college years, Thomas grew his operation from zero to 14 properties, transitioning from a college student to a full-time entrepreneur. The discussion highlights the challenges and breakthroughs Thomas faced, including his shift from considering arbitrage deals to focusing on co-hosting, leveraging his youthful insight into technology for business optimization, and his personal growth amidst struggles with mental health. Moreover, Thomas shares actionable insights for those looking to enter the short-term rental market, emphasizing the importance of scalability, understanding market demand, and efficient operational strategies. 00:00 Introduction to Thomas Morey's Journey 00:38 Diving Into the Podcast with Thomas Morey 01:10 Thomas's Start in Short Term Rentals 01:49 The Challenges and Triumphs of Starting Out 02:42 The Strategy Shift: From Arbitrage to Co-Hosting 16:20 Scaling Up: Securing More Properties 21:16 Optimizing and Expanding the Business 28:41 Reflections and Future Directions 30:54 Unlocking the Secrets to Successful Property Listings 31:21 Custom Pricing Strategies for Individual Properties 31:38 The Art of Capturing Perfect Property Photos 32:21 Maximizing Revenue with Strategic Guest Targeting 33:20 Balancing College and a Thriving Rental Business 33:43 Setting Ambitious Goals Beyond Graduation 35:25 The Power of Mentorship and Community in Business Growth 37:15 Leveraging University Resources for Business Success 46:40 The Entrepreneurial Journey: Reflections and Advice 51:34 Embracing the Future with Confidence and Purpose

Om Podcasten

The Short Term Rental Pro Podcast is dedicated to sharing knowledge, experiences, and actionable takeaways from those who have built successful short-term rental and Airbnb businesses. STR Pro aims to inspire and educate the next generation of successful STR investors. Our host, Jeremy Werden is the founder of several 6 and 7-Figure short-term rental businesses. Jeremy has a 25 listing Airbnb portfolio that brings in over $1,000,000 a year and has done so through using multiple Airbnb / short-term rental strategies such as buying properties, managing (a.k.a “co-hosting”), renting and subletting (a.k.a “rental arbitrage”), and glamping. He has built this business from the ground up in only a short couple of years. He also has a 7 unit boat rental fleet. In order to scale these businesses Jeremy has had to leverage other people’s money (OPM) and financing which he talks about during podcast episodes. Jeremy also is the Co-Founder of BNBCalc, the premiere software for analyzing and under-writing short-term rental investments that has thousands of users. He also started the BNBPro Mastermind, a tight-knit community of hosts building their Airbnb empires together. Jeremy regularly posts on social media and also received more than 50M views across platforms. Each episode, we delve into the stories and experiences of successful short-term rental hosts, and get insights on how they built their businesses from the ground up. We also talk to service providers who have built innovative tools that are helping hosts automate or enhance their businesses. Whether you're a seasoned short-term rental host or just starting out, this podcast is packed with valuable tips and strategies to help you grow your business and achieve success. Feel free to reach out to Jeremy on Instagram @jeremywerden