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A
Hi, welcome to the Boostly podcast. This is the podcast that gives hosts the tools, the tactics, the training and most importantly, the confidence so you can go out there and get more direct bookings. We do a Behind the host special on this podcast where we dive into different hosts, people who train other people in the industry, people who have got experience and people who can help you on your journey. Today we've got a special guest. We've got Kyle Stanley. Kyle has been on the podcast before both with Mark and, and with myself and he's, he's a regular here. So welcome back, Kyle. Thank you for joining us.
B
Yeah, Liam, awesome to be on, man. I hope, hope we can have some fun talking about this property today.
A
I'm excited to, to dive into it and you know, just, just welcome back. And for, for the people who don't know who, who you are, Kyle, and, and I hope there's not many of them, but for people who don't. Can you introduce yourself and share about a bit about your background? Like an elevator pitch?
B
Yeah, I mean, started doing short term rentals right after I got into real estate in 2019. Had been a serial entrepreneur, a failing serial entrepreneur up until that time. Finally invested in myself in the real estate game. Started flipping houses. Held onto my second flip as a short term rental in Fresno, California where a lot of people were like, what? You're going to do a short term rental, vacation rental in Fresno? I was like, no, it's not a vacation rental, it's a short term rental. And so that tripled my profits compared to a long term rental that was in 2019. And then I was off to the races. Started doing the arbitrage model, started doing the co model. Ended up getting to right around 70 units, a combination of ones that I own plus ones that I was managing for other people and then took a pretty major step back from that model to then just start owning more properties in the last couple of years. And, and I've been very, you know, I would say detached from the management company because I've been focused a lot on just my own own portfolio and making some banger properties like the one that we're going to talk about today. So yeah, yeah, that's, that's kind of the, the background there. And then the fearless investors is the name of our channel, the name of our brand. I say ours because I have my good friend and partner Hame Kenny. Kenny doing some stuff with me. He shows people how to buy properties. He's bought over 200 doors in the last three years. Doing, which is just amazing. And so I love, love talking about operations. He loves talking about the set, you know, buying properties. And it's a good combo and it's awesome.
A
I mean, we've had Lami on here as well, so it's great to have you on here.
B
Killer.
A
For people who don't know as well, you've got like your community, you've got the training and that side of things. So if you, if this is the first time you're listening to Kyle, please do search the channel, the fearless investors and know, go and check it out. It is really cool. But one of the reasons we wanted to dive in today is, as you say, you've been focusing on purchasing properties, which is the goal. Right. We want to grow our equity and, you know, sort of create wealth potentially for generations for, for some of us. And to be able to put all of the knowledge and expertise from the management business and, and the experience and to actually now be purchasing it really shows up on this listing. Now, obviously on the audio, we can't show those listening to the audio on YouTube. We will add a link for, for people who want to go and check it out. But can you tell us a bit about this property and what made it a deal that stood out and what kind of experience and lessons you put into this, this, this project?
B
Yeah, this one was really cool because my wife and I, we were in Hawaii on vacation when this one came across our desk. And, and Liam, I'm not the guy that does like 50 deals a year. I do like two to three quality deals per year. And that's like, that's, that's what I hang my hat on. And so this one, we were like, we need to get another house. And then literally within hours, my phone is ringing from a good friend of mine. He's like, hey, I found this place in South Bend, Indiana. It's close to Notre Dame, and I have no idea what I'm doing. Can I pick your brain? I'm going to buy it. It's a really good deal. And so I started looking at this thing and it's, it's 4,800 square feet and it's right by Notre Dame. And when I'm looking at all these properties in the area, I'm like, these people, like, are missing out on a ton of income. And I'm afraid that my friend's going to do the same thing. So I told him, I was like, listen, I can, I can, like, you can pick my brain if you want, but I would love to partner with you on this. And my wife is the interior designer. I know what I'm doing. And so, you know, I brought my piece of the value to that deal. And he was like, yeah, 100%. So we partnered on this own at 5050. And my wife just went to town on this thing. I told her, I, I said I'm assuming you're going to link this property in the description. People need to go see this. They'll see it, they'll see it as soon as I click on it. But I told her, I was like, I want you to pretend like the Notre Dame leprechaun went in there and just vomited all over this entire house. It is green and gold and navy blue and gold and it's, it's everything Notre Dame that we, we ran into a really special one. And I can tell you the numbers on it were outrageous. We bought it for 185. We put in 200000 into the renovations, another 25000 into furnishings. And so we were all in right around, what is that the like 5ish mark? And so I mean it ended up not, not even right like that. Four, 4:40 right around there. It re. It ran refinanced for 7:34.
A
Wow.
B
We got all of our money back and then some. And now we have this just incredible property that by the way, you know, during football season, on the weekends, during home games has made between as little as $5,000 for a two day stay to as much as $10,000 for a three night stay during football season.
A
Yeah, I mean as we say, we'll link it underneath but for those of you on the audio, you have to, when you're not driving and you can pull over, go and check out this link. Because even before we hit record on this, I was saying that I've taken some inspirational ide around stuff which, which you do for this property which we'll dive into. And what I love about it is it's very clear about what it is. Like obviously you're going after the, the football market there. I mean it even says Fighting Irish on the, on one of the walls, which is, you know, it's amazing and it's very, very clear. It's, it's, it, it stands out. So just backing up a little bit. So what made you so confident in that particular market? Was it just that other host, as you say, weren't doing what they could be doing or was was it a market which is emerging? How, how come you were so confident in It, Well, I mean, you know.
B
You look at the air DNA numbers, right? You start off, and this is my first deal in a new market, so I'm always looking at what is the potential. And there was a number of properties that were four bedroom, five bedrooms that didn't have the same kind of space as ours and were not niched down and themed like I knew ours was going to be. And they were making over a hundred thousand dollars for the year in gross. So that was enough for me to be like, okay, you know, when we first got this deal, we thought, you know, we thought we were going to have probably a $500,000 property by the time we refinanced it. But luckily for us, one sold down the street right before we closed at 7, it was like 729. And that's what just like blew the lid off of our refinance. So and doing those numbers, I looked at it and said, you know, that's like $4,000 of cash flow after you refinance this thing. This is gonna be great. So that was the first piece. The second piece was that kind of confused me was why are more properties in this area not themed for Notre Dame? Because it's within a mile. We know how the Notre Dame fandom goes. And when I started to learn about this town, it's 100,000 person town and it literally doubles when there's home games for football. There's another hundred thousand people that will come from out of town to go to a Notre Dame game. There's, there's Fighting Irish fans all over the the country. So for that reason, I was like, you know, our realtor, who actually has a management company for Airbnb, not a big one. She, she said to me, don't, don't theme it Notre Dame. And I said, why? And she said, because there's other reasons that people come to see to, to this town. And I said that that's fine. I'm not trying to appeal to everyone. I'm trying to appeal to very specific people. I, I want to, if you, if you don't niche down, then you're just, you know, you're just not, you're not going to get the results that you want. And that's what I found in short term rentals. You try to appeal to everyone, you appeal to no one. And so for that reason, I was like, yeah, I'm going all out. I'm not listening to this person. And you, like I said, we've had this up since June. Just did the numbers, the Other day, we've netted over $25,000 in six months. And I want to say the gross income so far has been on average about 12,000 per month during that time. Wow.
A
Yeah. And I mean when you say about niching down is clear and this is what we talk about, right, is, is if, if you appeal, as you said, if you appeal to everyone, you appeal to nobody. And this is where, when you go onto this listing and for those of you listening on the audio, the fact that you've actually got the, the Muriel on the wall of the stadium or the photo of the stadium, you've got like a bench, you know, like a football bench in there. You've got obviously hot tub, You've got all of the things. It's really clear that you've put some really high end features in the foosball table, the pool table or whatever is. And it's just very clear who you're trying to appeal to. You're trying to appeal. And, and even that you said that you want to go after people who are there for, for the football. You've even put the first title as, as 1 mile to Notre Dame. You know, like, it's very clear, hey, this is who it's for. This is why you need to stay here. And these are the experiences that you're going to have if you stay here, which is, is marvelous. Is, is there any other features that you were like, hey, I think this is going to work?
B
Oh yeah, oh yeah. There's a ton that I'd love to tell you about. So first of all, when we got into contract on this home, we said, you know, since this is the first time that we're doing one in South Bend, I think it would be a good idea for us to go there. When you see photos and you see videos of the place, you get some sort of idea. But when you go there in person, like, the basement was massive. And as soon as I went down there, I was like, listen, I don't usually promote parties, but like this could be a bachelor pad haven. And so we, we decided that we were turning the, the downstairs into what we now call the Leprechaun Lounge. And what that is is it's a Irish pub. So we have the bar we have. We were thinking about doing a movie theater downstairs, but we found that, you know, there was just going to be too much user error in that. So we just got a big ass TV and said, you know, it's a movie theater type of feel. We've got the pool table like you mentioned the foosball table. We've got darts, we've got a poker table, we got all that downstairs. And we just said like, this is going to be. If someone, even if they're coming for an away game, they're going to pay top dollar because they know, hey, I'm not going to a game, but I am going to be in what feels like, you know, the, the bar for Notre Dame. And so that was why we went all out downstairs. The cool thing that you can't tell unless you read in the description or unless you watch the, the QR code, which is a tour of the entire place, is that it's, it's separate rentable units. So 90% of our bookings are the entire house, but you can rent just the top half. And we did that on purpose because of exactly what, you know, kind of what my realtor had said. Like, oh, you know, there's a lot of different reasons for people to book. Okay, well let's give them a different reason. So what we did on the top half of the house is we just made it really nice. Furnishings still went with that kind of navy blue and gold theme, but there's nothing like really outstanding about Notre Dame about that. So if, if we have a last minute booking and someone is just looking to save money and our place is vacant, well, they can book the 2400 square foot, three bedroom, two bath upstairs. And then what's cool about this is once they book, then they get a little notification saying, hey, you only booked the top half of the house. Here's a video of the leprechaun lounge downstairs. Would you like to upgrade? And we've had probably about 15 of people will upgrade to that because they're like, this is cool. Now I can go downstairs and play pool and I can, you know, play darts and I can bring the boys over and play poker. I can watch the game on the big screen tv. So it's kind of an upsell for that. Only book the top half. And we never have anything competing because we don't, we don't offer just the bottom. We, it's either you book either just the top half of the house or you book the entire thing. And that's been, that's been really cool for us.
C
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A
So it's like hedging the bets. You've got the normal house if you need it, but at the same time, that upgrade and from the trends that I'm seeing here locally, I mean, even when people are coming for work, they're still booking the places. I'm glad you said dartboards, because I've started putting dart boards in my place because it's, it's quite a quick and easy low value, you know, like $50, 30 pounds, whatever it is, to be able to get that, providing the, the properties appropriate for, or even an outside space for it. But when it comes down to the, even people staying for work or perhaps away courses and things like that, they're still more likely to book the places with experiences like all these things that you've mentioned and having the chance to upgrade. I mean, even if work's paying for the, you know, the, the main accommodation, they might choose to pay for that if there's a bunch of them, you know, like, or work might do it for them. So it is, it is really cool. And you mentioned there about the QR code and this is something which, I mean, we're all about direct bookings, right? We we like people to be able to get direct bookings from this podcast. And one of the things that you mentioned on there is on your third picture, you've got a. It looks like it's made with something like Canva or, or a similar sort of. Yeah, something like that. And you've added a QR code saying, scan this to tour our home. Really simple. And that was the first thing I did when I got sent this, Kyle. Obviously I hadn't seen the listing before, but the first thing I did was got my phone out and I had a look at your YouTube where it is a professional. You know, really, it looks like it's done on a phone, but everybody here listening can this. Can, can do this. Can, can use a good quality phone these days or, or a camera, if you've got one. And just doing a tour of the home. And then I'm already on your YouTube channel and I've already got ways that I can find a link to your direct book and website. And I assume there's probably a link in the description of the video as well. I didn't, I didn't get that far, but yeah. Where did that idea come from?
B
You know, we've been doing that for a while. I would, I, I don't, I don't know where it came from, to be honest. I can't remember if that was taught to me or if that was something that I picked up because I saw it on another listing or if I just had the idea. But I just remember, you know, what it was. I remember I had a realtor once and he said, hey, can we do a 3D video, one of those matte, whatever they call those cameras where like, it can do the 3D, where you can like click and watch the tour. Not a video tour, but you can actually do a tour of the house.
A
Yeah.
B
And, and I just was like, well, you can't post a link on, on Airbnb, but I really want to use that. And so I thought of that. I know a lot of people do that, so I'm not saying I created that. I'm, I'm, I'm not the creator of the lawn. You know, it's, it's, it's something that I think everyone should do, though, when they have a very unique state. Because when you look at the photos On a 4800 square foot home, you're trying to put a lot of pieces together of like, is this upstairs? Is this downstairs? Okay. Is this, you know, is this next to this bathroom? Or is it next to the kitchen and, and there's just a lot to be left to the imagination. Whereas if you just have a nice little easy video, they get the layout and everything is, is nice and easy. And, and we get less questions in the booking process as well because they get to watch that video and most of their questions are answered at that point.
A
And anything which removes confusion promotes the purchase. Right. You know, like the, if anybody's got any questions that they happen to hesitate and ask or worry about, they're less likely to buy. And this is where with your listing, you really made it easy for, for people to buy. And another way that we've suggested people do that is through floor plans. But if you do a floor plan and you're listening to this, instead of doing the standard real estate ones, the ones that we like, you can, you can go on place like Fiverr and people will design these really cool little cartoon drawn like floor plans and things like that. But idea, yeah, it's, it's having these things which will give people an idea of the layout without them needing to message you and inquire and then questions back and forth, which takes your team time and stuff like that. So the purchase of this one, obviously you said you're focusing on purchasing more. How is this kind of shaped your perspective on what you're looking for next? Is it going to be more of the same thing? And is there trends and opportunities that others should be paying attention to right now when they're considering purchasing?
B
So I'm glad you asked the question because we bought a property not more than half a mile away from this one actually closer to Notre Dame. We bought it creatively. I can tell you what that means in a second if you have any questions about that. But we bought it creatively. We only had to put $15,000 down. We bought it for $355,000. I thought to myself, and by the way, a 4% interest only on, on the mortgage. So that's phenomenal. I thought to myself, how cool will it be if we can buy more properties like this one? It's only 1300 square feet. But maybe because of the location and just the fact that it's, you know, it's not a beautifully renovated home, it's just a good location. Maybe we can rely on location and that'll be the cheat code here in town. And I was wrong. And it's okay that I was wrong because we bought this deal right? Like never, never take major risks. If you are, are banking on just one exit strategy. This one could Go as a long term rental, it could go as we could wrap it, we could do a lot of things with it. But just to compare this, this property that you and I have been talking about this whole time, 4800 sq ft Leprechaun Lounge compared to this one, not half a mile away from the other one and closer to Notre Dame, not as nicely renovated, still has the hot tub. It's only 1300 square feet in comparison. Just to give you a look side by side, when Florida State came to Notre Dame on our first house, we got $10,000 for a three day stay. This new house I was just telling you about, we got 2,200 for that same three day stay.
A
Okay.
B
Reason being is because with, with a lot more space and an experience like I can add a hot tub, but that doesn't really like give me a full on experience. The Leprechaun Lounge is an experience. People will pay for the experience. So to your question, we're looking for more properties like Leprechaun Lounge, but to buy them like we did with that second home, on terms, through creative terms where we can put little to none of our own money down and get really low interest rates. So if we can combine those two, it's a, it's the best of both worlds. And that's what I would just really recommend to people is don't be afraid to niche down and get that experience for that kind of house. Buy it right, buy, buy the deal the right way. But make sure that you are going for that experience because even in the slow times, people will still book it and you might not be as occupied, you might have a lot more vacancy, but you're still, instead of making, you know, having to settle for a hundred dollars a night, you can still get $300 a night and still fill this thing up because people will still pay for a premium product.
A
Definitely. Then there's two things I'm taking away from that is first of all, you don't want to be at the bottom of the market because nobody's really making any money at the bottom of the market. Even the middle of the market is hard these days. But when it comes down to that experience that, that you've created there, I mean even today, and this is a random tangent, but I saw on, on TV there was this Vikings stay doing trips to Antarctica in like spa type cruises. And I'm like, wow, I have never, I've not heard of that before, I've not seen anything like that. But it was the idea of the experience which gets people to buy. And it's that emotive. And as soon as I saw your listing, I'm thinking, ah, that's the kind of place I'd book with friends. And we'd be down there and having a game of poker, having a game of pool, you know, like having a laugh. And that is what makes people book it. And although obviously people are still price conscious that as soon as you get motions involved, you want what you want, right? You know, like once you see something, you go, oh, I want to stay there. Then people find a way for the stuff they want, which is cool. So you mentioned Creative Finance. What is that?
B
Yeah, I mean, I'm not as good at explaining this as my partner, but what I will tell you is I've done deals with Creative Finance without the same knowledge and without the same finesse as what my partner has. But I've got a free training for you guys that I would like to offer to the Boost Lee community. And it's going to be a 15 minute training about exactly this. And my partner, Lame Kikini is the one that explains it so beautifully. He's purchased 200 doors in the last three years through Creative Finance, hasn't used any of his own money, and is getting properties at half the market rates. So here in the U.S. right, that's instead of 7%, he's getting them at three and a half, 4% at most. Four and a half percent. So I'll just use the example of the deal that I just bought to kind of give you guys an idea. But Creative Finance is not just like, hey, let's be creative. It's, it's an actual exit strategy with essentially two or three different exits under this umbrella. So there's like the property that I bought from someone who owned this property outright, did not have a mortgage on it. The property had been sitting on the market for a year, Liam, a year. And I was like, why is this thing not selling? Turns out that it's got this wobbly floor thing going on and it scared a bunch of buyers away. I got a contractor out there, he said, $15,000, we can have that thing fixed. I'm like, boom. So I talked to this seller and the agent, along with my partner, we both talked to them and we said, you know, what's gonna, what's gonna be an ideal situation for you for a down payment? So we're, we're not involving the banks, we're going straight to the seller. We're saying, would you like to be the bank? And this seller said, I don't need the money. I have a really good job. I own a few properties. I, all I need to have is enough of a down payment for me to do X, Y and Z. And that ended up being $15,000 down. So on a $355,000 purchase, we put $15,000 down. That's less than 5%. Then we said, okay, well, how much money would you like? How much interest would you like to earn on your money? And so again, instead of going to a bank and saying, what do you, what do you get a pre approved for? We said to the seller, we would like to give you 3% interest. They said, no, I'd like 4% interest. We said, okay, we'll do that if you do the first two years interest only. And then after that principal plus interest. We, we created these terms out of thin air with the seller. And that allowed us to buy a $355,000 home for less than 5% down. And now our payments in the first two years are $1100. So that, that's, that's the beautiful thing about this strategy. And that's one way that you can do this creatively. The other way, I'll let the training really do all of the talking on this. But what I love about the other way, it's called subject to. You're getting someone out of a really difficult position that they're in. If you can think about maybe you've been in this position, maybe you have a friend or family member that's been in this position. You buy a property, you need to sell the property unexpectedly, call it one or two years later, and you bought it with an FHA loan. The market hasn't gone up. Maybe the market's even gone down a little bit. If you sell that property on the MLS today, you will lose money. So instead, someone like me comes in and says, hey, I really like the fact that you have a three and a half percent interest or a four and a half percent interest through the banks on that property. I'll tell you what, instead of selling it and losing money, I'll actually give you a nice little down payment to help you move. I'll give you 5,000 bucks to help you move, and I'll take over your current mortgage. So think about all these people that bought in 2020, 2021, when interest rates were really good. They've got 3 and a half, 4% interest rates, maybe even lower. But some people, like my partner who's in Utah, that that market went down a Ton. And so if they were to sell today, they would lose money. So he's just come in and he said, hey, listen, I'll take over all of your three and a half percent interest mortgages and I'll give you a nice little down payment. I'll take it over. And now he owns a house for little money out of pocket and then he goes and furnishes them and turns them into Airbnbs. It's an incredible strategy. It's an. And it's an incredible. What's great about this to Liam is that you're, you're really help seen sellers get out of a bad situation. You're not a wholesaler, not to badmouth wholesalers, but wholesalers have to be a little bit cutthroat. You're not having to be this cutthroat, cold call, drive for dollars wholesaler. That's lowballing people. You get to literally give people a good situation that they would not get from a typical buyer on the market. And, and, and that's why my partner has been able to buy over 200 doors in the last three years. And that's why, you know, we've been able to buy a few properties nice on nice terms in the last couple years as well.
A
A solution based think and ultimately if, if there's a, there's a problem that can be solved without that person and that person will always do what is best for them. If the best option for them would be like you say the wholesalers, then they go for it. But ultimately there's an opportunity for them to go for which is better for them. So this a win win. So it's really cool. And we'll share the link. So the link itself will be in the show notes. If you're driving, if you're watching this on YouTube. YouTube, look underneath, you'll see the link around this video. So Kyle, that brings us to the very last question, which is obviously you've, you've had the, you know, you've gone through a big journey basically with management company. You've got the, the training, you've got the purchasing, you've got the creative finance. What's been the most rewarding part of the journey so far and what can we expect in the future?
B
Oh, that's a good question. The most rewarding is, is the ability to, to have time, freedom for my family.
A
We had our first cubs as well.
B
And the cubs. Yes, yes, yes. Well, yeah, that. So I'll, I'll say something about that in a second. But you know, two Years ago, we had our, our first daughter. And leading up to that, that birth, I, I just said, you know, what do I want life to look like? And the answer to that was I wanted to be the type of role model to my daughter that she was going to be, you know, inspired by. And so the idea there was, well, when you're 90 years old and at the end of your life, do you wish you would have made more money or do you wish you would have had more experiences? And the answer is typically more experiences. So we created a business that has been able to allow our family to not have to have a 9 to 5, not have to be in a certain place in order to do business, but be able to do this remotely and has given me the time freedom to be able to be dad when I want to be dad, creator when I want to be creator, real estate investor when I want to be real estate investor and fills all of those, those needs in my life. But also I know when my daughter is going to start being 3, 4, 5 years old and starts realizing what dad is doing, that she can do the same thing. She doesn't have to go to college if she doesn't want to. If she does want to, we're going to support that. But this is the, the choices that we have in life. And, and that's, that's a, a beautiful, beautiful thing. And to your point, I'm a huge Cubs fan and so I started a Cubs YouTube channel. And that's a lot of fun to be able to pursue a passion every day and feed that part of my soul. So I would say that's, that's my, my fun side. The rewarding side is definitely the family though.
A
I, I love it, I absolutely love it. And, and it inspires me. I hope you, you know, forever listening to this, they feel inspired as well. And ultimately having that time freedom and even. And I know people listening to this, some will be on their first property, some will be on their hundredth property. But ultimately just having the choice to decide where you're putting your time and attention into and creating things and doing all that is, is part of the freedom, isn't it? So, Kyle, thank you for today. This has been really fun. The links below, this will be the link to the property that we've been discussing. Please do go and check it out. Give it a heart while you're there. Give it a like. And also go and check out the fearless investor training link as well, which is all about creative vendor finance. And Kyle, thank you so much for today. I really appreciate you. You join. If people want to come and find out more, what's the best way to do.
B
So, yeah, go. Go to our Instagram. The Fearless Investors is probably the best way to do that. And, you know, see all of our content there on Instagram and that'll direct you to a bunch of other things that we got going on.
A
That sounds good. So thank you so much. We'll see you on the next one. Hopefully ever catch up again in a few years.
B
Sounds good. Liam, thank you.
A
Cheers. Bye for now.
The Boostly Podcast: Episode Summary - "Creative Finance Hacks for Hospitality"
Released on February 10, 2025
In this engaging episode of The Boostly Podcast, host Mark Simpson delves deep into innovative financing strategies tailored for the hospitality industry. Joined by recurring guest Kyle Stanley, the discussion revolves around leveraging creative finance to acquire and optimize short-term rental properties, ensuring sustained growth and profitability. This episode is particularly insightful for real estate enthusiasts aiming to enhance their bookings and achieve financial independence in the competitive hospitality market.
Kyle Stanley, a seasoned entrepreneur and real estate investor, brings a wealth of experience to the table. Since venturing into short-term rentals in 2019, Kyle has successfully managed a portfolio of approximately 70 units, combining both owned and managed properties. Now focused on expanding his personal holdings, Kyle operates under the brand "Fearless Investors" alongside his partner, Hame Kenny, who specializes in property acquisitions.
Notable Quote:
"I do like two to three quality deals per year. And that's what I hang my hat on." – Kyle Stanley [00:51]
One of the episode's highlights is Kyle's showcase of a standout property in South Bend, Indiana. Located near Notre Dame, this 4,800-square-foot home is meticulously themed to cater to Notre Dame football fans, transforming it into an immersive hospitality experience.
Key Features:
Financials:
Notable Quote:
"We got all of our money back and then some. And now we have this just incredible property..." – Kyle Stanley [05:26]
A central theme of the conversation is the importance of niching down to target specific customer segments. Kyle emphasizes that by catering exclusively to Notre Dame fans, his property stands out in a saturated market, leading to higher occupancy rates and premium pricing.
Key Insights:
Notable Quote:
"If you appeal to everyone, you appeal to nobody." – Kyle Stanley [09:05]
Kyle introduces the concept of creative finance as a means to acquire properties with minimal upfront investment and favorable loan terms. He outlines two primary strategies:
Vendor Financing:
"Subject To" Deals:
Notable Quote:
"Creative Finance is not just like, hey, let's be creative. It's an actual exit strategy with essentially two or three different exits under this umbrella." – Kyle Stanley [22:57]
Notable Quote:
"We created these terms out of thin air with the seller. And that allowed us to buy a $355,000 home for less than 5% down." – Kyle Stanley [27:57]
Kyle and his partner, Hame Kenny, have established a robust framework for scaling their real estate investments. By combining strategic acquisitions with exceptional property management, they ensure sustained growth and profitability. Additionally, their community-focused approach through the "Fearless Investors" brand offers training and resources to aspiring investors, promoting knowledge sharing and collective success.
Notable Quote:
"We're looking for more properties like Leprechaun Lounge, but to buy it like we did with that second home, on terms, through creative terms where we can put little to none of our own money down." – Kyle Stanley [20:44]
Reflecting on his journey, Kyle highlights the most rewarding aspect as achieving time freedom, allowing him to prioritize family and personal passions without compromising his business ambitions. Looking ahead, he envisions expanding his portfolio using creative finance methods, continuously enhancing guest experiences, and empowering others through his training programs.
Notable Quote:
"The most rewarding is the ability to have time, freedom for my family." – Kyle Stanley [28:46]
This episode of The Boostly Podcast offers invaluable insights into leveraging creative finance to thrive in the hospitality industry. Through Kyle Stanley's experiences and strategies, listeners gain a comprehensive understanding of how to acquire and optimize short-term rental properties effectively. Emphasizing the significance of niching down, innovative financing, and exceptional guest experiences, the episode serves as a vital resource for real estate investors aspiring to elevate their businesses.
Stay tuned to The Boostly Podcast for more expert advice, strategies, and success stories designed to help you reclaim control of your bookings and build a resilient hospitality business.