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