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Ep.15 Unlock Top-Dollar Insurance Bookings with Cody Wood



Short Summary

At first, he thought it was too good to be true. But what Cody Wood discovered was an unexpected twist that tripled his rental income. Insurance relocation bookings for his short-term rental properties provided a lucrative opportunity he never imagined.


By accommodating guests in need of temporary housing, due to unfortunate circumstances, Cody's business flourished, generating more revenue for his clients while streamlining operations. What started as skepticism quickly turned into a booming business. Want to know how Cody embraced this unlikely opportunity and turned it into a successful venture? Keep listening.


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In this episode, you will be able to:

  • Hidden avenues of revenue in the insurance relocation market for vacation rentals.

  • The key factors necessary for accommodating insurance-relocated tenants.

  • Tips to harness the power of insurance relocation bookings and expand your short-term rental business.

  • Cultivate strong ties with insurance professionals.


Cody Wood is an experienced vacation rental host who discovered the lucrative opportunity of insurance relocation bookings for short-term rentals (STRs). After successfully navigating this unique niche, Cody shares his insights on how to maximize revenue and provide exceptional hospitality, earning him repeat bookings from insurance agencies. With a knack for going above and beyond, Cody has cultivated great relationships within the insurance relocation industry, and has helped other hosts benefit from these high-value bookings, achieving fantastic year-round success.



Action steps mentioned in this episode are:

  • Register with insurance relocation companies

  • Reach out directly to insurance relocation agents to build relationships and offer your properties.

  • Open up your calendar 30 days prior to a relocation booking ending to increase the opportunity for future bookings.

  • Provide excellent hospitality and customer service to ensure positive ratings from relocations

  • Price your properties at market standard and higher rates with insurance companies.


Benefits of Insurance Relocation Bookings

Insurance relocation bookings provide a unique opportunity for vacation rental hosts to tap into a high-paying and consistently reliable market. When individuals and families find themselves in need of temporary accommodations following an unfortunate event such as severe weather conditions or house damage, insurance companies step in to cover their housing expenses, allowing them to find short-term rental options. By targeting the insurance relocation market, vacation rental hosts can enjoy steady income, longer stays, and minimal maintenance requirements. Cody affirms that insurance relocation guests tend to be low maintenance and easy to work with, helping hosts to achieve their short-term rental goals. He suggests providing exceptional guest service and making clients feel appreciated and satisfied during their stay, as it's an essential part of the booking experience along with lodging.


Properties that Attract Insurance Relocation

To appeal to insurance relocation clients, hosts should offer properties with specific features and amenities that cater to their unique needs. Examples include fully furnished units, pet-friendly accommodations, and convenient access to nearby workplaces or social services. Ensuring a property stands out in the market will increase its chances of attracting insurance relocation bookings. Cody shares valuable insights on how hosts can make their properties appealing to insurance relocation clients. He suggests investing in 3D walkthroughs and floor plans that showcase the property, coaching hosts on negotiating higher rates, and continuously improving the quality of services and amenities offered. By adhering to these recommendations, hosts can increase their revenue and successfully accommodate insurance relocation guests.


Duration of Relocation Bookings Unlike typical short-term rental guests, insurance relocation bookings usually last for a more extended period, spanning anywhere from a few weeks to several months. This longer duration can offer hosts more stability in their revenue stream. This allows hosts to spend less time marketing and managing their properties, while still maintaining a high occupancy rate.



Link and Resources


Subscribe for free episode bonus materials: https://www.thestrinsiders.com/


Join the conversation with Tracie on Facebook: https://www.fb.com/groups/strcentral


Follow Jacquie on Instagram: https://www.instagram.com/5starbnb/



Connect with Cody on LinkedIn: https://www.linkedin.com/in/cody-wood-423a0978






 

Transcription

00:04 Tracie Fowler Welcome to The STR Insiders Podcast. We share tips for achieving your STR goals. AHA moments, funny stories, and all the latest gossip of this STR life. Listen in as we keep it real and maybe a little sassy. Celebrate successes and own all the mistakes we've made along the way. Whether you're new to real estate investing, new to short-term rentals, or a seasoned pro, there's something here for you. Jackie is an STR property manager who consults with individuals looking to grow their own property management firm. Tracy owns STR consulting and media firms that provide education to investors who want to learn all about STR investing. For more information, please visit www.thestrinsiders.com.

00:53 Tracie Fowler Welcome, everyone to episode 15 of thestrinsiders podcast. We're back with Cody and we're going to talk about cashing in on those high-dollar insurance relocation bookings. Welcome back.

01:06 Cody Wood Thanks for having me again.

01:08 Jacquie Mosher Now, Cody, we love insurance relocation, don't we?

01:13 Cody Wood Oh, yes, they're the best. Super easy to work with.

01:17 Jacquie Mosher Why do we love insurance relocation?

01:19 Cody Wood So you get generally triple the rate of what you would normally with the short-term rental. It's a little bit more midterm rentals, I would say, with the insurance bookings. And you only do one cleaning and it's a deep clean after they leave. And no maintenance is involved because you can do some inspections during their stay. But you really don't have to because these people are going to go home, they're not going to squat. They're probably within a few miles of their house. It's just an awesome experience for both the guests, the client, and ourselves.

01:52 Tracie Fowler What was your first experience with an insurance relocation?

01:56 Cody Wood They tried to book us through Airbnb and then basically we called them directly because were trying to understand what this was, because we thought it was a scam, honestly, because it was just like the $16,000 bookings coming through, trying to book us for like three months. We're like, there's no way this is a scam. And we actually end up reaching out. And they're like, hey, can we work with you directly? And we're like, well, yeah, because then we're actually getting rid of all the fees. And obviously, all we have to have is a contract in place that they sign with the client, we facilitate it, and basically once it's executed, it's like awesome because now the client is getting paid up front, they're putting down a deposit. If they have pets, they're paying the pet fees.

02:36 Cody Wood It's all going straight to the client. And then we're just basically sending an invoice to the client at that point.

Super simple. And everyone is excited because now they're making what other people are only making, say, 4000 a month. They're over here making 8000 a month and just rocking it out for three months straight. And so we've hit most of our goals for the year in three months.

02:58 Tracie Fowler Yeah, it feels like high season all year round.

03:02 Jacquie Mosher Yeah, I felt like a giddy kid. But I also remember the first time I got insurance relocation booking was during COVID and I remember thinking, this has to be a scam. And I actually got quite a few during COVID and it ended up being some of my highest rated. Like, the following year, I was like, how am I going to top the rates I got last year? Because the rates are incredible. And I think that they came my way because I had more availability on my calendar than I had in the past. But they are the bookings that we all want. They stay a month or two, maybe three, maybe four. They pay top dollar and they tend to be great people and great guests. What is the typical duration of a relocation booking for you, Cody?

03:47 Cody Wood It's generally three to four months is what we see. On average. We always give them the option to extend, which most people don't think about adding that in. And usually 30 days before that booking ends, we'll relist the listing and make it go live again. So that way, if they don't, we've already had 30 days of the calendar sitting, so that way we have more opportunity to get bookings. So that way we're not waiting. That's just kind of a pro tip for any of you looking at midterm or insurance relocations is you should open up your calendar 30 days prior to the booking ending. And even if they do extend and you say you have a booking, you can always cancel it out. Yeah.

04:24 Tracie Fowler And just for anybody listening, if you aren't familiar with insurance relocation. So your insurance, your homeowner's insurance, your renter's insurance has a clause in there where if your property is damaged for a covered loss and this is not insurance advice, but this is a basic understanding if your property is damaged for a covered loss. And it's not habitable during the repairs that the insurance company covers your housing. And you get to pick something that is a reasonable comp for your existing property. And the insurance company is the one paying us for these bookings. And that's what Jackie and Cody have been talking about, is that the money comes straight from the insurance company. They pay what I call rack rate, which is your retail nightly rate. They're not messaging you asking for a monthly discount like your typical MTR booking.

05:23 Tracie Fowler This is an absolute top-dollar booking for months on end. So, heck yeah, if they want to extend, stay the whole year.

05:32 Cody Wood Exactly.

05:33 Jacquie Mosher I could feel my eyes lighting up when you were saying top dollar rate.

05:37 Tracie Fowler I could just like I felt like.

05:41 Jacquie Mosher I was coming alive over here.

05:43 Tracie Fowler This is the best booking ever. We want all of these bookings.

05:47 Cody Wood Yes.

05:49 Tracie Fowler So is there anything you do differently for a relocation client versus your traditional STR booking client?

05:56 Cody Wood Yeah, so we actually try to go above and beyond if there's anything they request. We had one that requested a vacuum cleaner. We don't generally provide a vacuum cleaner in the property because we have our cleaners coming through. We went out and bought a vacuum cleaner. When they wanted a mop and pail, we bought a mop and pail. Now there was some absurd things they requested that we said, no, we're not providing those just because it could be a safety hazard.

06:19 Tracie Fowler Like what?

06:20 Cody Wood Like scissors. We're like, we're not giving you scissors.

06:23 Tracie Fowler I don't know what you're going to do with scissors.

06:24 Cody Wood I don't think you need these.

06:26 Jacquie Mosher Go buy your own scissors.

06:28 Cody Wood Yeah, it was kind off the cuff there. The thing is, within reason, we try to provide whatever they need and then we will oftentimes if they run out of supplies because the booking is so well, we'll go ahead and restock the supplies. If they let us know they still have ways to reach out to us directly. And if they have any issue in the property at any point, they can reach out to us directly because we have our tech software integrated in. And then we also request their email so we can email them so they can have direct contact with us at any point. We really try to protect those bookings. And so if there's something that goes wrong, we're hoping to do it within 12 hours. That's the max that we would wait for.

07:06 Cody Wood But the only reason it would be that long is say they call us at 06:00 and we have to get a specialized vendor out there which can't come tomorrow. So obviously they'll be first thing in the morning. And then also schedule any maintenance that needs to be done at the property with them in mind. So we're reaching out to them, we're talking to them, we're conversing with them, we're making sure that they're taken care of. Because what most people don't know, these insurance housing relocation companies are grading you, and depending on how the guests rate you, is if they'll come back to your services in the future.

07:38 Jacquie Mosher Very cool. What are the typical criteria that are communicated to figure out if you have a property that is a good fit for a relocation client?

07:48 Cody Wood So generally what they want to know is really kind of like the property size, how many bedrooms, bathrooms, square footage, if it's comparable to their actual property. You also have to be within a certain mileage range of their actual home because it has to be within so far of their driving to work, so far of driving to church services, if that's something that they consider. And then usually you can have this all pre-filled out. So probably one of the largest providers is Ale Solutions, where you can actually go out there and they have a form you can fill out. The only thing to remember is most of these agents are not looking at their preferred list.

08:23 Cody Wood As far as we feel, they're still coming through Airbnb, which is kind of wild, but at the same time, once they do, we generally try to reach out to them with our tech, not through the platform.

Again, there are certain tech out there that you can go get and tie into Airbnb that actually will give you the agent's phone number and you can actually pick up the phone and call. Do not ask for it through Airbnb because that is breaking the terms of service. Just FYI and if you want to take it direct from there because most time they send an inquiry first to see if it's available, most of the time you won't have four months of availability. There will be a one-off booking mixed in there and so you're going to have to say, don't worry about it, we'll handle that.

9:04

Cody Wood

Obviously, we'll let the insurance booking.

09:06 Tracie Fowler So if you were to register with Ale and you mentioned that they're rating you, any more detail on being a vendor with them or what that rating process is like, what they're rating you?

09:21 Cody Wood On, any of that, they're basically checking to make sure that the same thing Airbnb does. Think of it that way. Think of it as the same type of rating that you're trying to do above and beyond. Most of these people have really little experience with short-term rentals, so they're not used to dealing with a property management company that's more proactive. So when they do run into an issue and you're hopping to it, the guest that's staying in your property is going to be super responsive to that. Like, wow, that was pretty quick. Most of the time I hear horrible things about PMS. So they're going to be grading you on response time. They're going to be grading you on hey. When you had an issue and you reached out to them, were they responsive?

9:59 Cody Wood They're going to be asking like, hey, was the property up to the clean standards? When you arrived, when you checked out, did you feel like any of the furniture was worn out or that they just didn't care? We've had scenarios where there was a chair broken. We replaced the chair the next day. It's not a big deal to us because the booking is so good. We had one where they wanted access to the garage door opener. We had it locked away in a cabinet because no one ever uses the garage door in a short-term rental. Hardly. So quite literally we got them access and they were ecstatic.

10:28 Cody Wood It's the little things going above and beyond, making sure that you're really taking care of their needs and making sure you're treating them like a guest and not like, just, here's my meal ticket, check-in, see you later. Really do the hospitality side. So, same thing. Like you would be graded on an Airbnb. Your response time, how you respond, are you respectful, are you jumping to matters when there's a problem. We've had some fellow operators that we've sent direct bookings to the agents calling us saying that, hey, they're not living up to the standards that you guys accept. And so then we're reaching out, and potentially even to the point now where we'll take over that booking and that listing in certain scenarios. And if they're not getting it done, we'll get it done.

11:12

Cody Wood Because it's our reputation on the line, because now we have these agents reaching out to us directly, and we're also giving that back to the community.

11:20 Tracie Fowler

Yeah, it's a really cool little niche that you guys kind of carved out. It seems unintentionally like you just started having this conversation and it really has evolved.

11:32 Cody Wood Yeah, it started about a year ago. We basically started thinking it was a scam, started reaching out to them, and then the next thing you know we started building a list of these people and just picking up the phone and calling them and letting them know there's actually a human on the other side and it's not just Airbnb. And then as soon as we made those connections and we just pick up the phone and call these agents, it's much easier to work with them directly than it is to try to coordinate everything through Airbnb. Because then if they book through Airbnb and we cancel another Airbnb booking, that will be a problem. Because now Airbnb is going to penalize us, they're going to penalize our account. So there's a certain way of thinking about this a little bit differently.

12:08 Cody Wood Thinking about how Airbnb could flack you for taking this off the menu for them because they do track those things. And so it's much better than just blocking the calendar off for several months and saying, hey, you know what, we're just not available. And when you come back online it's much easier to get right back into the short-term rental game then versus coming in saying, okay, only book them through Airbnb could be great. But then when you have a conflicting booking it becomes a really big problem then.

12:38 Jacquie Mosher Now other than registering with the companies, what's the most effective way you have found to get insurance relocation requests?

12:47 Cody Wood Reaching out to the agents, being in their inbox, being in their voicemails. There's something to be said. The squeaky wheel gets to grease. If you want to be known, you got to be reaching out to them saying, hey, let me know. One of the things we use is hey, we have access to over 10,000 different hosts through all of our platforms. We're happy to connect you. If you've got something in this area, please reach out to us first. We want to be that networking guide for you. And we'll reach out to our network and we'll find that we run multiple different posts where we send out and say, hey, we're looking for a property in this area. It may not be in our portfolio, but then we basically hand it off to another host.

13:23 Cody Wood But we tell them, hey, you need to make sure you do X, Y, and Z though, while this guest is here.

And then we also help them even negotiate the pricing for their property. So if they're like, oh, I'll just take 3500, we're like, go further north, let's try 6000. How does that sound to you? Oh yeah. So we also coach people and like, hey, price it what it should be priced market standard. If that were the case, these insurance companies, what they'll do is the insurance agent will say, okay, we'll submit it for 6000, we'll pay you 3500 and pocket 3000.

13:55 Jacquie Mosher Now do you charge a referral fee?

13:58 Cody Wood We started to recently, the only reason why we started doing that was so that way, if that guest runs into trouble, is that we can immediately jump in there and we kind of put that money away and actually take care of that guest just because, again, it is our reputation and we want to protect that. But we've started out pretty low. I mean, $500 I think is fair when they're getting a booking that's three to four times what they normally would have gotten.

14:21 Tracie Fowler Yeah, absolutely. So once you've talked to an agent and kind of established that you want to be the contact, right, are they going to reach out to you or is this something that you have to kind of stay on top of? How do you create and maintain that relationship so that you become the first call that they're making?

14:47 Cody Wood Once you can make the connection is the first step and then it's basically staying active with that communication. So don't just reach out once, don't bug them every single day because you're going to be annoying and they're not going to want to work with you. But I would say as long as you like, hey, can I send you an email with my property listings if you guys need anything? Do I need to fill out stuff? And so what we did was we have multiple different companies that we work with now. We took Ale's form that they originally make you submit. We actually now pass that along and it's basically what these agents need. So it made their life easier. And so think of it as I'm here to make your life a little bit easier.

15:23 Cody Wood Instead of you having to go search for the properties Let me help you with that because I have access to a pretty big network. We can actually send this out and help you possibly locate something for your client because they're going to get paid regardless. Now you're also becoming into the mix and you can help facilitate, even helping with the contract potentially that maybe this other operator who might only have one or two properties, doesn't know how to have that contract set up. And so we can actually supply a contract to help them, and then you just basically facilitate it for them. And so now, boom, you're not only helping the new operator, but you're also helping the insurance relocation agent really make that connection. And they're more willing to come back to you because now they know, hey, you're a professional.

16:13 Cody Wood I'd much rather work with you than deal with Airbnb and deal with the nonsense of cancellations through Airbnb and the fees and the challenges. And we've done it through Airbnb before. It was a pretty substantial fund. But at the same time, Airbnb got their cut. And I mean, they got their cut on a $16,000 booking, right?

16:25 Jacquie Mosher How many referrals are you doing a month?

16:28 Cody Wood We're doing probably somewhere between, I would say an average of 10 to 20 a month. Now we basically post it out there on different Facebook groups that we're part of, select communities. And then at the same time, we've also started asking people to, hey, you got any properties in this location, send them to us for us to review. And then we're also reviewing them prior. And then if we have something available that someone sent us and says there's something that comes through, we immediately make connect the dots. So we also have operators now sending us listings. So we're being a two-way connector. So people are now coming to us at the same time where before were having to basically broadcast out.

17:04 Cody Wood Now we're kind of intaking people at the same time, which, again, it just becomes part of the networking because at this point now people like dealing with us.

They know that it's a legitimate insurance relocation. They don't have to worry about it, is this Ale? Is this some other company? Are they legitimate? Oh, well, this is coming from Cody. Okay, I know Cody is actually in this game. He's been dealing with these people, he's worked with them before. So this is a legitimate insurance relocation.

17:32 Jacquie Mosher Gosh, could you imagine how many hosts, when they get that inquiry, just think it's a scam and ignore it?

17:39 Cody Wood I imagine a lot

17:42 Tracie Fowler because we get. These, at least in my experience, most of them seem to be Chinese inquiries that are very similar in terms of a full rack rate booking for two, or three plus months. But I think a lot of us are conditioned to where when we see a booking inquiry like that, we just assume it's a scam because of the ones that are right.

18:06 Jacquie Mosher It's too good to be true, but it's not. Guys,

18:09 Cody Wood we thought that originally, too. And of course, we're on VRBO, we're on booking.com. So we see those two come through, and when they're like, oh, we'll pay by check, it's a scam. But these insurance relocation companies, also pay by check, but they mail it straight to the client. But there's a completely different conversation piece here where they're like, hey, I've got a family. Can they come to view the property? Nine times out of ten, they do want to see your property before booking.

18:35 Tracie Fowler That's good to know.

18:36 Cody Wood Do keep that in mind. You do need to either have a 3D walkthrough or even a 3D floor plan will definitely help you, but actually allowing them to walk through the property.

18:46 Tracie Fowler Well, I mean, that's really good to know because I didn't realize that the walkthrough would be a piece of that. And that definitely is one of those things that I think most of us are conditioned to flag as a scam.

18:57 Cody Wood Most of the time these people that are doing the walk-through think it's going to be guided, which is also where we have to coach them. Like, hey, no, it's actually completely automated. Keyless entry, no contact thanks to COVID. And so we can quite literally do this completely automated. Don't worry, we have security cameras on the outside, nothing on the inside. Feel free to look around and then most of the time they end up loving the process because it's so flawless and easy for them to get in.

19:22 Tracie Fowler So you mentioned a 3D floor plan. So would you say that if someone is intentionally targeting insurance relocation and feels like they have a higher likelihood of getting those types of bookings, they should invest in something like a Matterport walk-through?

19:37 Cody Wood Yeah, I think it helps because again if you're occupied and they want to see the property in real-time, I think it is a great help because you spent all this time designing the property and sometimes the photos just don't do it justice. And so this way, giving them either a 3D map or a way to walk through the property, they're probably going to pick your property a little bit faster.

19:58 Tracie Fowler You just said this and I don't know why. It didn't even occur to me. If the property is booked, they can't walk through it.

20:06 Cody Wood Exactly.

20:07 Tracie Fowler Of course, I'm literally buying a house down here that I have not physically walked through. But I've done Matterport like 50 times to verify all the little things that I need to know because I can't get into it yet. So I mean, that's really smart.

20:25 Cody Wood It yeah, and I mean even to the point of even thinking about even having them do the Matterport around the outside of the property because what if they have kids? What if kids want to go play? What if they have a fenced backyard, but you don't have a walk-through of the backyard, and you just have the stagnant photo? Well, maybe you have a pool. Well, what's the uniqueness of the pool? Maybe it has a waterfall feature. Maybe it has hopefully it doesn't have a slide. But we won't talk about that safety issue. Making sure that you have the proper signage up. Hey, there's no lifeguard on duty, so that way the kids understand. And do you have the proper fencing around the pool so that way when they walk through, they go, oh, wow, okay? They protecting my kids.

21:03 Cody Wood They've got a security gate. Kids can't just open it and go straight into the pool and I won't know. I just had a property where I actually have something like that scenario, and I have a security gate. And funny enough, even I had trouble getting through the gate just because I had a job. Yeah, it even stopped me. I have another property in Dallas where I just had a four-month booking long-term, and then basically it ends mid this month. I have two days to do a deep clean and then a new insurance relocation booking starts at that same property.

21:34 Tracie Fowler That's amazing.

21:35 Cody Wood These are the features of real insurance relocation. That is awesome. That's for another month and a half. So it drops me right off into the busy season and I'm not upset.

21:44 Jacquie Mosher Now, what types of properties do you see gaining the most interest when it comes to insurance relocation?

21:52 Cody Wood All of them. This is the key with insurance relocations is that you really need something kind of catastrophic to happen for that family. Houses burned down, and houses were unlivable because of mold, or flood. It is sad, but the Texas trees were great for us. I know that's kind of gory, but when burst pipes and our properties were available because we had gone through and done the maintenance, we had these properties available that people were just insurance booking, insurance booking. So we're sitting here looking at this last year, going like, wow, we had these massive bookings in May last year, and we're going like, how do we duplicate that? This May? I had one property that was occupied 30% but did $12,000 in the month of May. And I'm like, I can't duplicate that. I really did

22:39 Tracie Fowler need to scale it back a little bit.

22:46 Cody Wood It's funny because, I mean, the property does on average about $6,500 a month anyways. And so the fact that happened was we had a booking through Airbnb and then we had an insurance booking and it just fell just perfectly. And at the same time, the homeowner was trying to sell the property wild enough. And then after that month, he's like, I think I'm going to keep the property now.

23:09 Tracie Fowler This has been really great. Insurance relocation is one of those things that feels mystical and almost like this. In some ways, it is a unicorn booking. But if you connect with the right people, then you absolutely can increase your opportunities for capturing these bookings or being the first line of conversation for opportunities as they come up. And I feel like that's really the key here, right, is understanding where these bookings come from and being in front of those people is the difference between maybe looking out and getting a random one on Airbnb and becoming part of their regular pipeline.

23:53 Cody Wood The final thing I leave is, too, don't build your business around the insurance bookings, still build it around the short-term rental. And the insurance bookings will definitely come because there's going to be opportunity always there. But realize that this is an added revenue stream and this shouldn't be the backbone of your business. And if you can remember that and you teach your clients that's going to be the ultimate key. Because if you try to build your entire portfolio around insurance bookings, you're not going to be very happy when they don't come because you might be starving. And that's where I would always caution people. They're great, they sound sexy, but realize that they also are very selective with what they're doing and understand that you have to be within a certain mileage.

24:38 Cody Wood So, like bigger cities, it's probably going to be much easier to grab these but then think about rural towns.

Okay, well, now the game changed. You still need to be banking on, hey, when one comes in, that's great. We're definitely going to eat. But at the same time, that's not our bread and butter. We still have our short-term rental plan and that's what we're executing here.

24:57 Tracie Fowler Absolutely. It's like hitting the scratch-off once every couple of months. You just get that extra bonus cash that just makes you feel like you won the lottery. Honestly, when you get one.

25:08 Cody Wood It definitely is great during the offseason. That's the whole reason we even started this was that we really wanted to cover and protect our portfolio during the offseason when most people were struggling. Beginning of this year with the Airbnb bus, guess what? We had insurance bookings. We weren't struggling as badly. We still had a few properties that were limping along, but we knew how to focus on those properties. And instead of focusing on all 60 properties, it's much easier to focus on maybe, say, 20 versus a larger portfolio.

25:37 Tracie Fowler Brilliant. Thanks, Cody.

25:39 Jacquie Mosher Thank you, Cody.

25:40 Cody Wood Thank you all for having me.

25:44 Jacquie Mosher If you enjoyed this episode, we'd be so grateful if you rated and reviewed it. Also, subscribe for more insider knowledge. We can help you get the edge in the STR world. You can find additional resources for your STR journey as well as our social media handles at thestrinsiders.com.






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