In this episode of The Power Producers Podcast, David Carothers and co-host Kyle Houck interview Christopher Culin Tate, Real Estate Investor and Author. Culin shares a few of the proven strategies from his book, Host Coach, aimed to help individuals be successful in short-term rental investment.
Episode Highlights:
- Culin describes himself as a serial entrepreneur who has owned businesses such as manufacturing and software, but his interest in real estate made him devoted to real estate investing in 2018. (2:39)
- Culin shares that he saw an opportunity with Airbnb because of their small cabin, which was originally intended for family, but later allowed their friends to stay, as well as friends of friends that quickly became fully booked. (5:28)
- Culin discusses the importance of going the extra mile, thinking like a business person, and thinking like you’re in the hospitality industry in order to make your listing perfect. (12:14)
- Culin talks aobut not accepting one-night reservations and shares two effective strategies for convincing guests to book for more than one night. (18:29)
- Culin explains that having multiple platforms is not recommended as it results in fewer views. (21:24)
- Culin advises people interested in investing in real estate to find their way and understand how it will fit their particular passion. (31:48)
- Culin encourages listeners to subscribe to a tool called AirDNA, which will assist them in determining whether or not a market is viable. (35:43)
- Culin encourages people who are looking to buy a home to find an agent who can help them research things like regulations at the state, county, municipality, or even HOA level information. (41:31)
- Culin discusses how he came up with the idea of organizing his 90-minute outline for a presentation that shares real-life stories and processes for finding a property step by step, which became the outline for his book. (43:33)
- Culin shares how private and public rental feedback can differ from guests. (48:29)
Tweetable Quotes:
- “The most profitable properties are going to be the ones to get booked the most. And to get booked the most, you’ve got to get shown the most.” – Christopher Culin Tate
- “Don’t chase the hot market. Chase your passion, chase where you would like to go and spend some time.” – Christopher Culin Tate
- “The tips and tricks that we do to scale our business, it’s all in there and we wrote it. Like anybody who has written a book, you don’t make millions of dollars selling books, you help people and it gives you a good platform to help more people.” – Christopher Culin Tate
Resources Mentioned: