“We need another cart” are the words that Gary Miller never wants to hear again.
He also wants to share that there is no such thing as ‘passive income’ in this business because it’s really hard work.
Gary is one of the thousands of new owners who will enter the vacation rental business this year. Some will be lured by the Airbnb concept of shared accommodation, while many will go the traditional route made popular by Home Away and VRBO. Whichever way they go, they will all realize pretty quickly that there are no shortcuts; no easy methods, and no minimal spending once this train leaves the station!
Gary, and fellow new owner Jan Kahlen, have both invested in Ontario waterfront properties this year with the intention of maximizing their income, while still having time to enjoy their properties, and in this episode we explore the world of the start-up owner.
From researching the locations and understanding the different seasonal demographics to making the purchase and starting on the never-ending spend to equip a property, Gary and Jan, share their journey with us.
- How early cottage experiences impacted their motivation to buy a property
- The research needed to pinpoint the right location
- Why their properties will meet the needs of the target market
- What they are doing to capture the market when the high season ends
- Their favourite purchase
- Where they found information and education to start off on the right footing
- Why they are both using property management companies
Both Gary Miller and Jan Kahlen are members of the Vacation Rental Formula and regular podcast listeners. They would love you to stop by and ask questions on the start up process so leave your comments below.
Where you can find Gary:
Where you can find Jan: