Episode Description: Join us for an enlightening episode of the Reliable Opportunity Investments Podcast featuring Tyrel Holman, a local short-term rental expert and celebrity. In this candid conversation, Tyrel shares his journey from an everyday guy with a dream to a successful STR entrepreneur. Discover the crucial insights he offers, including the importance of the "one-bedroom sweet spot," the reality of passive income, and strategies for self-managing your properties.
We dive deep into what creates exceptional guest experiences that lead to glowing reviews, how to identify reliable investment opportunities, and why the Smoky Mountains are a prime location for STRs. Tyrel reveals his systems and processes, addresses common misconceptions, and emphasizes the significance of flexible pricing and unique selling experiences.
Plus, he shares humorous stories from his STR journey, discusses his vision for future investments, and explains why he believes anyone can succeed in this industry. Whether you're a seasoned investor or just starting out, this episode is packed with valuable insights to elevate your STR game!
Key Moments:
Tyrel Holman “Anybody Can do this”
ROI Event coming up2:45 You’re a normal guy with a dream
3:50 That 1 Bedroom Sweet Spot
5:00 Reality of passive income
5:30 Self managing
6:45 What do you do to go the extra mile for the guest?
8:20 What gets the GOOD reviews?
10:00 How do you look for Reliable Opportunities To Invest in?
10:40 What do you look for with reliability?
12:15 Why the Smoky Mountains?
14:50 How did you get started in STR’s?
16:20 Why do so many engineers manage short term rentals?
16:45 What are some of your systems and processes?
18:30 What was your biggest fear when you got started?
19:00 Funny bad reviews?
21:30 How do you get repeat guests?
23:00 What do people get wrong
24:00 Flexible pricing is key
25:00 Trade secrets
26:00 Hot tubs are CRUCIAL
28:00 What experience are you selling?
33:28 What type of guest is your typical guest?
36:10 If I gave you 0.5 Million dollars what would you buy?
37:30 What’s next for the Smokies?
39:00 If there is another area besides Smokies where would you buy?
41:00 What’s next for your portfolio?41:22 Tell us about flipping houses?
44:00 Is there a second wave coming?
45:00 How deep do you research?
46:50 Can ANYBODY get involved in STR’s?
49:15 Where should they start?
52:00 What’s been your biggest mistake so far?
53:20 What questions should someone ask the gurus?
56:00 What is your purpose?
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