The Power of Quality and Standards with Andrew Rodriguez

Discover how to build a profitable short-term rental portfolio by focusing on quality over quantity! In this episode, we chat with Andrew about his journey from managing 2 properties to earning $21K/month with just 6 high-performing homes. Learn how to set and maintain strict standards, choose the right owners, and create long-term success in the STR market.

02:22 - Guest Introduction
04:44 - Starting with Just Two Properties
06:20 - Quality Over Quantity Strategy
08:30 - Mastering Tough Client Conversations
10:03 - The Power of Setting Expectations Early
12:15 - Turning Down Non-Ideal Properties
14:50 - Defining Tangible Standards for Success
15:58 - Effective Direct Booking Marketing
18:30 - Expanding Into New Markets Strategically
20:12 - Managing Unique Historical Properties
22:48 - Weighing Future Opportunities vs. Standards
24:15 - Launching and Growing a Meet-Up Group
27:05 - Networking in a Regulation-Intensive Market
29:32 - The Importance of Leveraging Partnerships
31:20 - Focusing on High-Margin Operations

Guest Bio
Andrew Rodriguez is the President and Co-Founder of Stay Booked, a full-service short-term rental management business that specializes in maximizing the revenue of large and unique vacation homes. In this role, he oversees all aspects of operations and guest and owner services. Outside of Stay Booked, he is the co-founder of Brews & Deals NYC, one of the largest short-term rental networking events in the country, as well as an active investor in short-term and long-term rentals across the Northeast. Outside of real estate, Andrew spends as much time as possible in the mountains with his wife and business partner, Lindsey, and their 2-year-old son Riley. Andrew is passionate about skiing, ultrarunning, and helping others change their lives with real estate.

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[SuperNycfashion]

Hi Mike,

I listened to your meeting with Kellyn from the Tony and Sarah Alpha Host Academy, and I found some aspects relatable in this video. I understand that, as a first-time STR owner, you recommend aiming for larger spaces to increase potential rental income. However, larger properties come with higher upfront costs, and since I don’t have an established portfolio, many potential partners are hesitant to collaborate.

What advice would you give me in this situation?