Crushing the STR Game in Nashville

In the same way that ‘smooth seas don’t make great sailors,’ a strong economy doesn’t produce great entrepreneurs. And for short-term rental (STR) business owners using the master lease model, the last six months have been a worst-case scenario of rough waters. So, how did Travers Xanthos manage to make it through the storm—and even add boats to his fleet?Travers is the Founder at COMÓ, a STR company out of Nashville, Tennessee, that caters to the modern business traveler. He spent several years working in corporate sales before starting his STR business in February of 2018, and today, he has a portfolio of 30 properties. Travers is an expert in the rental arbitrage model, and he was able to pivot and not just keep his business alive but add units in the pandemic.On this episode of Get Paid for Your Pad, Travers joins me to explain how he created a successful STR business in Nashville and what he did to keep it going through COVID-19. He discusses how he learned the master lease model and shares the strategies he used to expand his portfolio in the midst of a global pandemic. Listen in for Travers’ insight on building a team to run your business (while you travel the world) and get his advice on making your STR hosting dreams a reality.Topics CoveredWhat the last six months have been like for TraversRevenue dropped 95% in one weekLearned much that will serve for rest of lifeHow Travers was able to add units during the pandemicStarted initiative to house medical professionalsFocused on extended stays (up to 6 months)Distributed flyers at construction job sitesHow Travers got into the STR master lease businessWanted to travel, live life on own termsTalked to friend with successful STR businessStarted calling list of rental property ownersCreated plan to leave 9-to-5 job in 6 monthsTravers’ advice for aspiring STR business ownersTake actionGet educated (course, mentorship)Outsource as quickly as possibleThe structure of Travers’ teamOnly one W-2 employee (property manager)Team of independent contractor cleanersTravers’ lifestyle of frequent travelLived in Bali but couldn’t grow businessHome base in Nashville, trips all over worldConnect with TraversCOMÓTravers on InstagramResourcesSTR LegendsGet Paid for Your Pad: How to Maximize Profit from Your Airbnb Listing by Jasper Ribbers and Huzefa KapadiaFacebook MarketplaceThe FounderBarbara Corcoran on BiggerPocketsSTR Profit AcademySTR MethodSmartbnbGet Paid for Your Pad on YouTubeEmail [email protected] or [email protected] Hosted on Acast. See acast.com/privacy for more information.