From the archive: This episode was originally recorded and published in 2022. Our interviews on Entrepreneurs On Fire are meant to be evergreen, and we do our best to confirm that all offers and URL’s in these archive episodes are still relevant.

Shawn Moore is Founder and CEO of Vodyssey, the leading vacation rental investing education company, helping clients build lifestyle and financial freedom through vacation home investments.

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Guest Resource

Vodyssey – Build a life you don’t want to take a vacation from.

3 Value Bombs

1. Don’t limit what’s possible before you explore it.

2. Saturated markets signal strong demand, stand out instead of copying others.

3. For your first short-term rental, budget for a 10–25% down payment, 8–10% for furnishings, and 6–9 months of expenses.

Sponsors

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Show Notes

**Click the time stamp to jump directly to that point in the episode.

Today’s Audio MASTERCLASS: How to Build Lifestyle & Financial Freedom Investing In Vacation Homes

[1:27] – Shawn shares something that he believes about becoming successful that most people disagree with.

• Focus on how important your customer experience and product are when you’re scaling your business.

[2:59] – Building passive income by investing in vacation homes.

• You don’t have to have millions of dollars coming in to be financially free.
• The holy grail of real estate investments is that they create passive income for us.
• Every asset class has its pros and cons.

[6:25] – How can someone make a small shift to stand out on AirBNB right now?

• Saturated markets mean that there’s a lot of demand. Your job is to figure out how you’re going to get your unfair share of business and stand out in the marketplace. You can’t do it by doing what everybody else is doing.
• Understand customer experience, develop an amazing guest experience, and articulate it to the masses through your listing to different channels.

[9:52] – What is the impact of inflation to real estate investing?

• Fundamentally, real estate is a great hedge to inflation.
• The reason being, there’s a huge demand with real estate right now is because of the leverage aspect.

[11:47] – A timeout to thank our sponsors!

[13:55] – Prices for homes are at an all-time high. Would it be better to wait for homes to come down in price before purchasing?

• The metric that bears the least importance is the actual price of the home.
• Underwrite a home because of its cash flow potential.

[18:00] – What are the best locations to purchase short-term rentals?

• Anywhere you have a profit-driver or something that brings people and visitors to the area.
• Start with what your means are and with where you’d love to own a vacation home, then look at what the market is like.

[19:59] – What the price we can expect to invest in our very first vacation rental investment?

• You need 3 things for your first short-term rental investment: A downpayment around 10-25% of your acquisition cost, furnishings around 8-10% of acquisition cost, and 6-9 months of property expenses.

[21:55] – Shawn’s key take away and call to action.

• Don’t limit what you think is possible before you look into it.
• Vodyssey – Build a life you don’t want to take a vacation from.

[23:13] – Thank you to our Sponsors!

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1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!

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