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We are talking about making short term rentals happen for you, making them easier and faster, bigger, better, and badder. If you feel the need to get started and need that extra push to make things happen, you can go to cashflowdiary.com/roadmap to finally build your business. J reveals the 10 things he wishes he knew before he got started in the short term rental business as well as answers a number of questions from the viewers.

• How many units does it take to retire? 

When you’re in pursuit of an outcome, you may not know what the goal is. When people are getting started in real estate, they often have a dream of retiring but have no idea how many units they need to achieve that goal. If you want to know exactly how many short term rental units you need to retire you can go to cashflowdiary.com/howmanyunits to calculate your magic number.

• Is it possible to get my first unit in the first month?

The most reliable answer is it depends. If you follow the program and do exactly what it says, you shouldn’t have any problems landing your first unit, it all depends on whether you are willing to put in the work and how comfortable you are with failing. You may have to hear a large number of ‘no’s’ before you get a yes, but if you can push through and put in the work, it’s definitely doable. You just have to move at the speed of instruction.

This program is best suited to people who are okay with leaving the ‘why’ for later so that you can provide value now. Even people who have been in the short term rental real estate world can get stuck if they don’t have a system for scaling and the tools and team to support their growth. It takes time to learn systems, but they can’t be implemented just by reading a book or watching a video. It requires hands on experience to make them work.

• Will we be able to plagiarize all the systems and everything you do in your short term rental business?

You not only get to plagiarize everything, the program literally contains the exact messages that J sends his guests. It’s easy to replicate the ingredients, but we also give you the recipe.

You need to learn more than just tactics. As the marketplace matures, you’re going to need to have the skills to build a real brand that will allow your business to continue growing.

• Do short term rentals work in Chicago?

The short term rental business works everywhere there is a need for housing.

• Is the app available to current students or only people in the Roadmap?

People joining the Roadmap get access to the app first but it will be coming to existing students that are currently in Facebook.

• Do I have to under price if I’m new?

You don’t have to approach this the way you would with traditional real estate, you would be doing things in the wrong order and costing yourself some opportunity. You also have to be aware of how difficult it is to get accurate data to set your prices and they can be manipulated.

• #10. I was not aware of the use cases for short term rentals

The real secret to the short term rental business is specialization. Who you are trying to serve will determine so much about your business and is really the foundation for everyth