[00:00:00] Mark: Alright everybody, good morning, good afternoon, good evening, and welcome wherever you are tuning in from around the world. I know that we have a multi world audience. We've got people tuning in from Australia, New Zealand, we've got people from over in the States. We've got UK and Europe and South Africa and Dubai and everywhere.
[00:00:17] Mark: So thank you very much for tuning in. This is day two of three days. Of the Boost Your Bookings Bootcamp. This is a very special MTR edition. Yesterday we did a full hour with Ryan Luke, who's based in the uk, and he was talking about how he went all in on the contractor model as part of the MTR and why and how he finds properties today.
[00:00:36] Mark: I've got the amazing Dr. Rachel with me and we're gonna talk about some really cool tools, including ai, but I know a lot of people are eager for, uh, today, Rachel, which is great. Before we start, do a little bit of, um. A little bit of admin for everybody. On the right hand side, there are a couple of boxes.
[00:00:55] Mark: There's a chat box, there's a question box. Please make sure you take full advantage of the two. First and foremost to get started. Nice. Easy question is just let us know where you are tuning in from around the world. So as you are coming in, whether it's live or on the replay, just let us know where you're tuning in from, uh, around the world.
[00:01:13] Mark: And then also as well, I'd be really interested to know. Are you operating in the MTR strategy already? Gimme a yes or give me a no. Really? Cool. Okay, so Rachel, you've got some slides today. Ryan didn't come with slides, but you have come prepared. I've had a little sneak peek and they're looking, they're looking good.
[00:01:31] Mark: So when you are ready, please go ahead and share them. And I hand the floor over to you. We we'll do questions and uh, answers. At the end. But I will say this is, if anything comes to mind, if anything at all goes, oh, I wish, what I wanna ask Rachel that go to the tab that's got the little question mark on it and type your question.
[00:01:51] Mark: 'cause then other people can upvote your questions is really cool. And we'll do them at the end. So, Rachel, the, the flaw is yours. I'm really keen and eager to this one because I know how much. We have both been chatting about, uh, AI and tools this year, and I'm excited to see how we plug this into the MTR strategy.
[00:02:10] Rachel: Thank you. Thank you, mark. Welcome everyone. Uh, happy Tuesday. I think it's Tuesday for most people in the world. Welcome to our session today, and I really wanna share with you some of the massive leaps that I have identified just over the course of the last. Six months or so and how we're using ai, particularly a tool that many of you have access to, to really dive into what's going on in our market.
[00:02:36] Rachel: So welcome to our session today. What have I told you That most short-term rental hosts, they're fighting over weekend bookings, vacation warriors, and there's a completely different market. Paying one and a half times to three times more for longer stays, and that is our midterm rentals. And so today I'm gonna share with you some AI secrets that give short-term rental hosts a massive leg up with midterm rentals.
[00:03:07] Rachel: Because at the end of the day, one of our biggest pain points is the constant turnovers. The guest complaints with short-term rentals guests. So give me one in the chat if you are tired of cleaning up after a major bachelor's party or bachelorette's party. Give me one in the chat if you are tired of dealing with maybe some neighbors that are not so happy with the frequency of your guests that are coming in and out in the in the community.
[00:03:37] Rachel: Let's see.
[00:03:39] Mark: I think we need to get everybody waking up today 'cause So some people are tuning in at seven, maybe 8:00 AM But yeah, in the the chat there's a box on the right. Make sure you tap that box and then you can type in ones or twos a freeze. Uh, let's us know, get, let's get some waking up today.
[00:03:53] Mark: 'cause I know yesterday you were a little bit quiet, so Dr. H it's our job today to get 'em active.
[00:03:58] Rachel: Yes, that's right. I wanna see who's here if they're not tired. Um. My work here is done. They got out
[00:04:10] Rachel: awesome. So let me know in the chat and, um, for some reason I'm a little emoji. I feel like it's blocking my chat box, but nevertheless. But either way, I know that I was struggling with that. And so we have transitioned half of our portfolio, um, to primarily focus on midterm rentals. And back in 2019 is when we started to lean in into the insurance midterm rental, um, strategy.
[00:04:40] Rachel: And so we're gonna cover that in detail in just a moment. However, depending on what market you're in, there are some. Secondary midterm rental guest avatars that I want you to pay very close attention to. Okay. And there are the following.
[00:04:58] Rachel: We have academic housing. Seasonal workers, the film and entertainment industry, flight schools, construction workers. I know, I know Ryan did a really great job yesterday sharing with us the, his work he does with the construction workers and so many more. And this completely blew my mind that there is a demand for furnished housing in nearly every single market.
[00:05:25] Rachel: But 90% of hosts do not know how to tap into it. And so my job today is to show you exactly how to tap into what are the midterm rental avatars that are specific to your particular market. Okay. Who's excited about that? Give me a one if you're excited about that. Or a Yes. Yes. And all caps. Who wants to know specifically the midterm rental avatars that are.
[00:05:49] Rachel: Very particular cheer market.
[00:05:51] Mark: Well, I'm excited. I'm, I'm very excited to hear this. I'm, I'm, I'm know as people start to wake up and get their coffees down, and then they'll be excited as well.
[00:05:59] Rachel: Awesome. Alright, so here's what most short-term rental hosts are missing. We're, we really are sitting on a gold mine.
[00:06:06] Rachel: Um, and we don't even know it. There are first and foremost insurance companies in nearly all markets as long as there are residential homes that, um, the owners can occupy. These insurance companies, they have larger B budgets. However, whenever there is a disaster or something accidental that occurs, say it's a kitchen fire, right?
[00:06:29] Rachel: The teenager is cooking and all of a sudden the house catches on fire. Well, there's an allowance that that family gets to use to stay in a property for months and months while their home is getting. Um, repair. Okay, so let's test it out. I had a client a couple of weeks ago ask me, Dr. Rachel, is this property ideal for a midterm rental?
[00:06:55] Rachel: And at first last I said, yeah, possibly. So I'm gonna walk you through exactly what I did and the results that we received. Okay? So I grabbed the address, the bedroom count, the bathroom count, okay? So we're determining. Will an MTR work in this property? Okay. Grab the address, the bedroom count the bathroom count.
[00:07:18] Rachel: I grab my midterm rental custom GPT, and I'll be sharing that with you at the end, exactly what it is. And I entered in the address into that custom GPT. So if you're multitasking, come back to me. This is where AI becomes your unfair advantage. Okay? And I'm gonna be sharing with you exactly the custom GPT that yielded me these results.
[00:07:41] Rachel: So the results were, it provided me three ideal guest avatars, three types of guest profiles that come into this market, the latest and greatest bit information. So meet your favorite guest if you're purchasing that property, or if you have a property in that particular location that is a location called Tallahassee, Florida here in the us.
[00:08:08] Rachel: This is the number one guest avatar you should be targeting. Amazon and infrastructure crews, they come in six to 10 people deep. They're building out a 630,000 square foot robotics facility in that area, and they stay in phases 60 to a hundred. 20 day. 20 days at a time, and it continues to share their budget.
[00:08:38] Rachel: It continues to share their must. It shares the type of decision maker, who is the booker, who's booking the property, the channels they're using, how to win. That particular contract, how to win that listing. And so I'm gonna share with you an example of some of the construction crews that we have worked in, worked with.
[00:08:59] Rachel: Okay? So we had a crew that was staying at a motel, uh, which is one of those hotels that are, you know, on kind of the side of town that is a little bit more dangerous. And because they were on that side of town, unfortunately their equipment, some of it was stolen, and these are very, very expensive equipment.
[00:09:19] Rachel: Some were stolen and some were tampered with. So when this, uh, particular custom GPT tells you that the a hero image of the driveway capacity is important? Well, they wanna know that they have capacity to park their trucks. They may come in with three, four very large trucks. Or, um, they're also looking for safety.
[00:09:42] Rachel: You can see this area's a little bit more secluded. And so if we were to reverse engineer this situation, if you're looking to acquire a new property, your, your radar should go up. But when you see a very large driveway, that should be a key to you. Like, oh, this, this can work. Your radar should go go up if you see a little bit more privacy, you know, and you, you would think to yourself, that could work as well.
[00:10:08] Rachel: And from there, the custom GPT provides us some intel on the seasonality. So what to do in a variety of seasons. So most host, they panicked during the slow seasons smarter midterm rental host know exactly when. The construction crew is coming in. What is the legislation staff doing when to focus on the insurance housing the most?
[00:10:34] Rachel: And for that address, remember we entered in a, an address in Tallahassee, Florida for that particular address, mark. It provides us an idea of our seasonality playbook. So from January to February, legislation staff, Tallahassee happens to be the capital of Florida, meaning a lot of political, legal things are happening in that particular area.
[00:10:58] Rachel: And so January to February they arrive. Um, FSU spring hires are arrived. FSU is a state university as well. So we're looking at academic higher education. We're looking at political campaign staff. Uh, uh, the session peaks and it shows you a variety of different avatars that you want to keep your eyes on so that we're more proactive and we're not as reactive.
[00:11:24] Rachel: And that is where I'm so grateful for AI because before. We were consistently reactive, consistently scrambling, trying to figure things out for ourselves. A lot of grassroots efforts. However, when you have a seasonality playbook, you have a little bit of an insight on how to map out your year, your expectations, and so on and so forth.
[00:11:47] Rachel: So we've done this really well for the short term rental properties, and I think it's time, it's very time for us to work on this permit. Midterm rentals as well. Now when it comes to the bookers, typically we're short term rentals. It's you or I mark booking for our families and figuring things out.
[00:12:06] Rachel: However, for these midterm rental guests, the ones that we wanna work with, the corporate midterm rental guests, oftentimes it's a third party booking on their behalf. It's a whole different decision maker that is approving these bookings and these decision makers, they have access to. Hundreds of thousands of dollars in budget to a million dollars in budget to house their people.
[00:12:31] Rachel: So whether it is hospital hr, a corporate housing managers, project managers, insurance adjusters, just to name a few. Inside of the custom GPC that I'm gonna be sharing with you guys, I'm actually providing you a few specific key examples. I've blocked them out because I know this is uh, uh, uh, crowd casting out to the world.
[00:12:53] Rachel: Mm-hmm. You don't want us to spam these particular individuals. I would love for you to do this particular exercise for your market property that you are actually. Interested in, and those are the exact names, uh, of those individuals. And again, I just want the shortcut, find me the shortcut, find me the latest and greatest when it comes to this particular, um, this particular strategy.
[00:13:17] Rachel: Okay. So before we dive into the insurance side of things, which I wanna break down a little bit, mark, I wanted to pause. I feel like I've been talking for minute. I wanted pause and see if you had any. Questions or if there are any questions coming in, just to make sure we get to them before I shift gears a little bit, to focus more on what is this whole midterm into insurance strategy.
[00:13:41] Mark: Yeah, so this is, this is really, really good and insightful and I have heard for someone's messaged me on WhatsApp just now to say that they've tried to put a post in the chat book, Crowdcast wouldn't allow it for some reason. So if you're struggling, uh, if you're struggling to, to be able to post a chat or a question, just let me know.
[00:13:57] Mark: I just need to know that you can chat. If you can just try, if you go to the right hand side, and we've got quite a lot of people in with us in, in the room. So I have a Richard Graham, Timothy, Sonya, hello. If you could just go to that little chat box and just put in the number one or, yes. I just need to know if you can post and if not, then I know that that's broken.
[00:14:14] Mark: And I will go and look on the WhatsApp for questions. 'cause we do have a WhatsApp, uh, group chat going on. But this is, this is very good. I'm looking forward to seeing more about the custom GPT. Uh, this is obviously key and this is how you can use AI to do a lot of the, the, the, the hard work for you. So it does look like the chat is broken, so, we'll, I'm gonna have to go into WhatsApp, unfortunately, means Rachel, you won't be able to see the chat as it comes in.
[00:14:36] Mark: But I will monitor it and when questions and anything does occur, um, then I will ask you. But also as well, if people wanna, um, message afterwards, you can do, hopefully Crowdcast chat will be fixed by then. But also as well, you can send me a message on, on Instagram and we'll obviously share Rachel's Instagram details as well.
[00:14:54] Mark: So, as you are Rachel, this is very good. I'm looking forward to that, to the next bit.
[00:14:59] Rachel: Awesome. Okay, so now let's go back to a little bit of concept and then we're going to do a bit more AI in just a moment. Okay. So I wanted to share with you, um, and Ryan did a great job of sharing with you the construction crew.
[00:15:11] Rachel: I'm gonna share with you my go-to my favorite avatar to serve, and that is family tour displaced from their homes due to a disaster. And I've alluded to that, uh, a moment ago. So first, here's the whole workload. Say a family's home is damaged. Next up, their homeowner's insurance finds them a fully furnished home.
[00:15:33] Rachel: Your home, uh, to stay in while their home is being repaired. They move into your home. That homeowner's insurance company, they pay you month after month after month. And that is the whole strategy I. I stumbled upon the strategy back in 2019. I was on the struggle bus working a full-time W2, fighting for my life.
[00:15:58] Rachel: Like many of you who are here today and just trying to pay off half a million dollars to student loan debt between my husband and I. When we stumbled upon short-term rental investing and we quickly, uh, identified this midterm rental avatar, it really changed the game for us. And fast forward to today, that is what landed us on a Netflix TV show.
[00:16:21] Rachel: It allowed us to step away from our W2. We had the pleasure of, uh, getting on this little podcast that Brandon Turner's hosting called Better Life. Where I focus on less is more. So with our portfolio, it has grown between partners and as we have a per portfolio of around 50 or so properties. However, for me, it's all about giving back and the ability to help others get into, uh, real estate, especially burnt out, uh, W2 workers, those who are working full-time, those who are in healthcare for the most part.
[00:16:55] Rachel: And so we've had the pleasure of helping over 500 members in, in our community leverage this particular strategy. And so I wanna share with you a few of our clients who have leveraged this. Midterm rental insurance strategy Dr. Gabby. She helped a family who had fire, uh, it was actually water damage to their home.
[00:17:15] Rachel: Uh, she's an ob gyn outta, uh, the Tahoe market. That f very first booking she got was $2,400 a week. Sometimes we quote at a weekly rate, uh, to start, uh, because for some reason those temporary housing agencies that work with the insurance company, they like to see the quote at a weekly rate. Some of them like to see the quote at a monthly rate.
[00:17:38] Rachel: So we go back and forth and so it's more palatable to quote it at a weekly rate at 2,400 than 9,600 or or whatever that comes out to for the month, and she was able to win that particular deal. The inquiry came to her from Airbnb, believe it or not. Dr. Mason, he's a pharmacist out of Boise, Idaho. So, and Boise has a, a, a one level property.
[00:18:04] Rachel: And when your property is just one level, I think that is another unfair advantage because some families, when they come to you, they may have a grandparent with some mobility constraints. Uh, they may have a child with, um. Special needs. And so having one level is really powerful with this particular strategy.
[00:18:26] Rachel: And so he has a two bedroom, two bath in Boise, Idaho. The very first family he got to serve was one with, uh, that encountered some fire damage. And this is an example, unless last September, one of the insurance companies reached out to me, this is the fair rental value that they were willing to pay. It was $14,657 and 14 cents per month.
[00:18:51] Rachel: Yeah. So it is a, it's, it's a worthwhile, um, worthwhile avatar to serve. For sure. This is Vivian, another client of ours, sharing her very first check. This is Gordon. What was interesting with Gordon, um, the family that he's serving it, the disaster was really different than anything I had ever couched. So a family had the home pressure washed by a company routine.
[00:19:18] Rachel: We're taking care of our home, we're getting it pressure washed for the season. However, the PSI on the pressure washer, I believe was too high. The water seeped into the particular property. There was damage, there was mold, and so they were displaced because of the mold. Wow. Yeah. And so on and on. Ziana Ruben is actually one of our first clients that I can't wait for him to share with you, Tamara.
[00:19:44] Rachel: He's become quite the marketing expert for midterms. And so what are the different types of damages? There are two categories of damage. And when we understand more about these types of catastrophes, we put ourselves in a position to serve and to help these clients that come into our world. And so there's accidental, also known as manmade catastrophes, a leaky appliance of water pipe that burst.
[00:20:15] Rachel: And then there's natural catastrophes, storm related catastrophes. Many of you have seen what just happened in California Palisades. And so at this moment, we're still looking for 300, no 600 homes because there are 600 families that are displaced, and there's just not enough homes to serve them. And when it comes to the manmade versus natural, depending on where you are in the market, you may see more of one versus the other.
[00:20:45] Rachel: For me, in our markets, manmade claims are our top meaning. Um. Water damage due to alleviate appliance or plumbing issues or fire that's caused by a kitchen cooking accident. Those are the vast majority, and then there's natural claims. Those are your hurricanes, tornadoes, extreme weather, that's only 20% of our stay.
[00:21:14] Rachel: One second. Okay. In the United States alone, according to scientific America, there were more than 3 million Americans displaced from their home in 2022. And so to say that this is a fad or this is not something we as investors. Would pay attention to is gonna be very, very foolish because that number continues to rise and rise year after year.
[00:21:41] Rachel: So it's really important that we lean in. This is my primary avatar of choice. I have a few secondary avatars based on the specific markets, and now I would love to get into a demo mark, if that's okay with you to
[00:21:58] Mark: absolutely fine by me. Everybody's loving it in the chat. So yeah, keep on going, please.
[00:22:03] Rachel: Awesome, awesome. Uh, and then I have my, well, we can connect, I'll share this, our short-term gyms and ly. So the devil is the custom GPTs. Oh, wait a second. Where did, oh, there it is. There I go. Okay. So just to show you, just to show you how much I love our international guests, I wanted to use that same example with, um, an address.
[00:22:30] Rachel: That is overseas. So I have a four bedroom, three bath house at 18th Victoria Street, Windsor, Queensland, 40 30 Australia, who are our most profitable guest avatars.
[00:22:46] Mark: Okay. Okay.
[00:22:46] Rachel: So that's essentially the question that I'm asking. And so, let's see. Yep. You're seeing my goal. Now I'm gonna share with you specifically the output.
[00:22:59] Rachel: And then I can show you how I'm entering that into catch check. GPT, the custom GPT. So I have a custom GPT. This is our midterm rental guest, avatar creator international. And so I have the same exact question I shared with you on the slide and the way that this custom GT works, I want some numbers. I wanna know, first of all, is it a good idea to invest in that particular market?
[00:23:26] Rachel: Is it a go or no go And according to my custom GPT, and of course talk to your financial advisor, I'm not your financial advisor, but it does say go. It says that, yeah, it thinks it's a good idea and it breaks down, uh, the, the CapEx, which is kind of like the profitability numbers, the biggest risks, risks, some regulatory information that you should be aware of, and it goes on and on to start off.
[00:23:52] Rachel: And then it starts at number two. Our guest avatars, and I gotta tell you, mark, whenever I do this, I'm surprised because even I don't know these particular avatars, like, well, you don't say so. Rail writers, site supervisors, what?
[00:24:11] Mark: Try saying that five times first.
[00:24:14] Rachel: Right? It'd be like, I'm like, who are these people?
[00:24:17] Rachel: So I got really, really intrigued and say there are four to six senior engineers, supervisors, ages 28 to 45, earning 160 to two 20 k employed by Cross River Rail. These companies, why they stay, they oversee the nice shifts, uh, their budgets per month paid on corporate card. Wouldn't you like to know that, right?
[00:24:41] Rachel: Yeah. The length of say 90 days per 150 days per contract. Rotation must have five park parking, blackout blinds, and it goes on and out. So that is our first batch. Who's the booker? The booker is the site superintendent. The booking channels, they use SAP Concur or direct LinkedIn. How to win them. And it shares, you know how, what's the value proposition?
[00:25:07] Rachel: What value are you providing to put you in the best possible position? So that is the first avatar. The second avatar is North Bri Brisbane Blood Fix Insurance Families. Okay. I'm learning a lot. I'm learning a lot. Julie, George, where are you? Eat your heart out, tell you. And then here's our third. Uh.
[00:25:33] Rachel: Midterm rental. And so the way we train this, uh, engine, this little custom GPT is, since my philosophy is less is more, every property has to stand on its own two feet. So my goal is to. Solve big problems so that I can make the most revenue possible from an investor perspective. So I want to know the avatars that, that are gonna have a little bit more of a budget that are not going to be as price sensitive, that can pay what it is that that property is worth.
[00:26:02] Rachel: So,
[00:26:03] Mark: sorry, just one, just one super quick thing there. 'cause it's a, a theme that I'm, I think I may have missed, but I definitely got it from, um, Ryan yesterday. Did you say less is more in terms of. The property that you have and the things that you put in the property, is that what you mean by that?
[00:26:17] Rachel: Less, it's more from a portfolio growth perspective.
[00:26:20] Rachel: Uh, yes. Yeah, for sure. And then from a decor perspective, these avatars you don't need as much either, so both.
[00:26:30] Mark: Yeah, I think that's, that's really interesting 'cause Ryan said the same thing yesterday. So he obviously grew to like 400 properties with the short term rental model, scaled all the way back down to now he is under 60 with the MTR model.
[00:26:41] Mark: Same. And,
[00:26:42] Mark: um, again, with the decor, with the short term rental market now, and you will have seen this Dr. Rachel as well, is that everybody's having to put in pickleball courts, having to put in, you know, jungle themed, you know, all the things in their short term rentals to try and stand out to be like an OMG.
[00:26:59] Mark: Airbnb is what I sort of describe it as. But with the MTR market, like you said, you want to make it feel a little bit more home vibey, less is more. So you can have a, a smaller portfolio, which is nice. Less obviously upkeep and less stress. Yeah. But also as well with the, with the decor and what you have to sort of do inside the properties to get them MTR ready, it's less as well.
[00:27:20] Mark: That's a really nice little common theme that I feel like we're getting here. So thank you for, for explaining that.
[00:27:25] Rachel: Yeah, absolutely. And if you want to add just one room to give it a little bit of a passade and personality, feel free to do so. However, think about it this way. These families, especially those who are displaced from their homes, they're coming from a little bit more of a traumatic situation.
[00:27:42] Rachel: Their senses are heightened and you don't wanna put them in a. A banger of a Disney home where it's like, oh my God. Yeah. Where
[00:27:51] Mark: you're looking at, uh, looking at Mickey Mouse every day or looking at buzz light your Muriel every day, but it's like neon. Yeah.
[00:27:58] Rachel: Right, right. It's a bit much. It's a bit much. Yeah.
[00:28:01] Rachel: So I don't wanna necessarily worry you through these avatars, but for me, I found them very, very fascinating. There must haves, and again, the must haves, it's not saying we need, you know, uh, Instagram of a wall. Right. That's not a must have. When they're telling you parking, like parking for four trucks is a must have.
[00:28:19] Rachel: It's a, it's definitely a different avatar from a price sensitivity perspective. It breaks down for you, uh, the lean seasons, what that's gonna look like, the peak seasons and the inclusions as well, uh, depending on the channel. From there, the seasonality playbook. So we saw that with the Tallahassee, uh, property location that we're testing out.
[00:28:42] Rachel: Here's the seasonality playbook for this Brisbane, uh, Queensland property. Uh, cyclone and flood season is January to February, so we'll we'll see a spike in insurance. Stays around that time. March to April. Construction, ramps up post sweat target rail riders. A made of August corporate blog September, and it goes on and on and on.
[00:29:06] Rachel: And I think that is amazing. And again, the key, uh, corporate content as well as a little bit of a blurb on how to reach out to them. And that is our demo. That's our demo. What do you think, mark?
[00:29:22] Mark: This is, this is super interesting. Like I said, I feel, what, what was the, sort of the vibe and the theme that we're getting over the next, these two days and I'm, I'll be really interested to see what Ruben comes in with.
[00:29:32] Mark: Uh, tomorrow, number one, like I mentioned, less is more, uh, with the number of units in the decor that you need, but also what I noticed there that the, the average stay, Ryan said yesterday, his average stays is four to six months. And I can see here from these sort of types as well, the average stay, we're looking at between four to six months.
[00:29:50] Mark: So, um, bigger bookings, longer bookings. Yeah. Uh, with, with less, and like I say, it's, it's proven to be very successful. Now, could you do me a, a massive favor? You know, on your slides, one of the very first slides that you touched upon was the, the different types of niches with M-D-M-T-R strategy, the different types of guests.
[00:30:08] Mark: Do you remember which one? I mean, it was a, a, a, like a video, like a scrolling video.
[00:30:12] Rachel: Yep, I'm pulling it up now.
[00:30:14] Mark: And that to me that is really fascinating as well. 'cause I feel like the biggest misconception, and I asked Jeff Hurst this at Furnish Finder, the new CEO of Furnish Finder, I said, what's the biggest misconception with what Furnish Finder does?
[00:30:26] Mark: And he said, the biggest misconception is that everybody feels and thinks that the MTR strategy is just traveling medical workers. You have gone and shown in this in itself that there are so many niches within a niche. Like how many are there? Is there like 20? My eyes can't really count as fast, but they're
[00:30:44] Rachel: tough.
[00:30:44] Rachel: 20 or so here, but I've identified about 56 so far and the list is growing.
[00:30:50] Mark: Wow. So 56 different niches. And look, festival attendees. Those of you in the UK at the moment, you know that Glastonbury is about to roll around biggest festival and obviously in the UK you've got sports, like I can see here, medical travelers, obviously artisan, right?
[00:31:05] Mark: As home renovations. And like I said, the, the sort of the niche that you are going down is like the, the, the, the, the home insurance one that the, the, the, the misplacements, the ones that have had these issues. And again, it's, it's, uh, it's really interesting to me and I feel like hopefully for everybody that's tuning in, whether it's live and replay, is that.
[00:31:22] Mark: Those that think about this, they just go, oh, it's just gonna be travel work. 'cause I'm nowhere near a hospital. This isn't for me. So this is fascinating. And obviously your GPT, the custom GPT, like I said, you don't even know Brisbane that well. I dunno if you've ever been to Brisbane that well. No. But you've been able to use chat GPT
[00:31:39] Mark: Yeah.
[00:31:39] Mark: Uh, pollen address out and, and ran a search for it. And it's been able to help. So it's, it really does, AI really does shortcut your learning on, on this.
[00:31:49] Rachel: Absolutely. Absolutely. And and I, I wanted to show you the results, but we can walk through, if that's okay with you, mark, we can walk
[00:31:57] Mark: through, please. Yeah.
[00:31:57] Rachel: Yeah. A process. So here in the US we typically use Zillow. Okay. And I don't know if there's any questions in the chat around a particular markets and one that's curious about a particular city, a particular state, or if someone has an actual address they wanna try. Try it out. Well, how
[00:32:15] Mark: about this? I know that Mr.
[00:32:16] Mark: Robert Duncan is in the crowd and I know that he's in Sarasota, Florida, and I know that he, this is a question that we had recently with him, is about, uh, medical tourism and he wants to definitely take advantage of the MTR strategy there. So let's go and have a look, uh, for, for Sarasota, Florida. If you don't mind.
[00:32:33] Mark: It's one of these like up and coming areas, and I know that for a fact and this is why I'm interested to see him in the room because. I feel like this could be, this could be a, a nice little talking point here. So if you don't mind running this on, on there, um, okay. That would be fantastic. Um, and again, 'cause the chat is broke and you won't be able to give him as a, as an address, but if you just wanna go and just find an address in, um, Sara, so if, if you, if you like.
[00:32:56] Mark: But, um, Robert, if you're watching this and if you're on WhatsApp or Facebook Messenger, if you wanna send me an address for Dr. Rachel to check out, we'll have a little, we'll have a little look. Um, yeah, it's a shame that Crowdcast chat is down. 'cause normally it's, uh, it's, it's really firing. But I, well,
[00:33:13] Rachel: it's all good.
[00:33:13] Rachel: And I'll find one on Zillow. So here's Sarasota, Florida, and I'll just pick this first property here. It's a three bedroom, two bathroom house. I will tell you I like. Three bedrooms. I like four bedrooms even better. I like five bedrooms even better. Mm-hmm. So if I can squeeze a little bit more out of my budget to go a little bit bigger, uh, there, that's where, that's where we, we see the biggest opportunity.
[00:33:40] Rachel: Not to say that a two bedroom or one bedroom won't work, but the, you get the biggest bang for your buck, uh, when you squeeze a little bit further. Okay. So I'm gonna walk you through a little bit about chat, GPT, just so you're aware. Once you grab a hold of the custom GBT by, uh, sending me a hello and an Instagram story and tagging both Mark and I, I'm at short term dot term gems, um, we'll send that custom GBT to you once you, once you log in the models.
[00:34:13] Rachel: There are a variety of models in here. I do recommend using the oh three model that is the paid. You'll, you'll, you can access that through the paid version. You can use the four oh model for free. However, you will not get realtime information with a four oh model as of today. So the information could be a little bit dated.
[00:34:33] Rachel: I'm just gonna give you the heads up.
[00:34:34] Mark: Yeah, and I've, I've heard as well that by the end of this summer we will have GPT five, which is exciting. So, oh my
[00:34:40] Rachel: goodness, I'm not gonna sleep. Interesting. I'm
[00:34:42] Mark: not gonna sleep. Interesting times ahead, for sure. So this is cool. So this, uh, this obviously, um, big notes there, so make sure you're on the O three model.
[00:34:51] Mark: Um, if you, if you know anything about chat GPT, you know exactly what we mean. If you're, if you're struggling again, just send an Instagram message to Dr. Rachel Short term gems. Um, I'll make sure that all goes in the chat and, and the links and, uh. And we'll be able to quickly explain what that is. But yeah, I'm excited to see what we can do with this.
[00:35:07] Rachel: Yeah. Yeah. And all you do is hit the, let's get started. I kept it really, really simple. Let's get started. Sometimes it gets a little chatty. Mm-hmm. And let's see what it does. Okay. So it's asking a lot of questions. Okay. So you can ignore all of that and just enter in the address, say it to 3 2 3 slash two.
[00:35:30] Rachel: And I'll say, let's go and see if it. It goes, or if it wants a whole lot more, you know with chat, GPT is generative ai, so no two responses are. The exact identical, but once you see this little box here, it indicates that it's thinking. The O three is a bit more of a thinking model, meaning it's doing a little bit more research, it's going on a variety of websites, trying to figure out exactly what it is and what it needs to do based on the prompt that is inside the custom gt.
[00:36:06] Rachel: So this is our USA version. The custom GPT and then we have the global version that when I said, okay, search the world as a whole. And that is how we're able to find that information in Queensland and Brisbane. And it takes a hot minute. Look, you can see it searching the web, it's looking up military.
[00:36:25] Mark: Yeah. I love O three 'cause you can actually see what it's doing as well. Um, you can see how it's thinking and yeah. I've, I I, I love this model just 'cause you can actually see exactly where it's, where it's going.
[00:36:37] Rachel: And it gives you insight, right? Like I was like, oh, the Florida Department of Transportation.
[00:36:41] Rachel: Yeah, I should have thought about that. So it gets you thinking a little bit more about how even we should be searching for things, right?
[00:36:51] Mark: Mm-hmm. Yeah. No, absolutely. And again, looking at the sources, 'cause this is the one thing that I've definitely noticed. S with the pla. So the thing that's always come to my mind is where is it looking?
[00:37:01] Mark: Right? And obviously now that it gives you the citations of the sources and where it's going, that's big. 'cause you should be able to check that and go, okay, is this like a, a very good place to go or am I just looking at a Reddit forum? You know what I mean? Where anybody can just type whatever they want.
[00:37:16] Mark: Exactly.
[00:37:16] Rachel: Exactly.
[00:37:17] Mark: I do. I do really do really like that.
[00:37:20] Rachel: Yeah. Yeah. And it takes a couple of minutes, I would say. Anywhere from one to three minutes.
[00:37:27] Mark: Yeah. And, and one thing that I will say as well, that you went to Zillow. So obviously Zillow is more of a US based search. Ryan mentioned yesterday, the more UK based ones because that's obviously the ones that he knows, which is right.
[00:37:36] Mark: Move. But again, in Australia you've got your own versions and, and, and wherever around the world you've got your own versions. So just, you know, Dr. Rachel went to Zillow, but depending on the country that, that you're in, you'll be able to to to find one. Okay. So it's come back for, for less than two minutes, which is nice.
[00:37:51] Rachel: Not bad at all. Like how long would it taken you or someone to research on your team to look this up or va. Right. How much would
[00:37:59] Mark: you have paid somebody to do this? Yeah, exactly. Yeah.
[00:38:02] Rachel: Yeah, for sure. And so the way it breaks down, it gives you a top line Snapchat, it provides you the address and a few thoughts around, uh, this particular market.
[00:38:11] Rachel: So it, it's getting you a little bit acclimated to the market. And then we dive into the guest avatar. Here we go. Storm safe families who they are. Households displaced by hurricanes. Ian, Debbie, Haleen. Milton. Two to five people plus pets. Dual income mid forties. Okay. Dual income. That means their living.
[00:38:33] Rachel: Their living situation is, it's pretty decent. Waiting on rebuild. And their insurance payouts, their booking channels. Zillow, furnish Finder. Highlight hurricane rated windows, full house generator, pet ready yard, accept direct bill offer. So direct booking, right?
[00:38:55] Mark: Mm-hmm. Offer
[00:38:56] Rachel: biweekly deep cleans. Okay. Next are the orange vests.
[00:39:01] Rachel: So these are ask the GPT to give me the top three avatars that I need to be aware of. This next one are the Orange Vest Road Warriors. I don't, I have no idea what these words mean right here. However, if you're in this market, you may say, oh, ska, yes, it's right up the road. That's like, wow, okay. Never heard of this.
[00:39:26] Mark: That's funny.
[00:39:27] Rachel: So they're refacing. Um, it's job sites, trucks and trailers. Right. They're gonna site superintendents, they're booking on Airbnb, they're booking through corporate housing brokers. And so if this is an avatar you're interested in, it would be important to figure out what Mika is in cws is so that you can start working on those, uh, packages and winning those particular deals.
[00:39:53] Rachel: And then the third avatar are relocation executives, so high level executives coming to the area. Sarasota is a booming area, and so they're training and bringing in talent, whether it's vice president healthcare, vice president hires, and so on and so forth. They're house hunting, so they need a temporary place to stay, like a gap property.
[00:40:18] Rachel: And they can potentially stay for three months. Right. While they're looking for the right home and the right school district for their children.
[00:40:26] Mark: Mm-hmm.
[00:40:27] Rachel: But that designer furniture, espresso machine, Peloton, right? Different avatar, but you get to see specifically who they are. And who it is that you want to serve, and you can interrogate the GPT.
[00:40:41] Rachel: Um, when we dive a little bit deeper, I wanna know how many of each of these are coming to the area. Um, we're looking in New York. They had relocated, I think it was Citibank, it was a group, uh, MMTB. They had relocated 76,000 employees over the last 24 months, and I was like, interesting. That is a company I want to get to know as well.
[00:41:07] Rachel: That's a
[00:41:07] Mark: really interesting one. The one you've got next up here. The, the, the house hunt while kids finish the mess Finish semester in Sarasota. This is something that we noticed about speaking to to, to Robert, is that a lot of people will come down while their kids are going to college There. Uh, and they will look for a place to stay for a couple of months or a hundred percent.
[00:41:25] Mark: That is definitely something. And there's, there's a big water sports scene happening down there, so there's, this is all good. This is all like really good. And, and what I love as well, and I think this is like an undertapped usage case with, with chat dpu t is that there is a voice button there. So obviously you are doing text to text at the moment.
[00:41:43] Mark: Yes. But like I said, you could start this off by doing this, and then what you can do is you could go for a walk, say you're walking the dog or you're going on the treadmill or wherever, going for a long walk outside, you can put in some AirPods, in some headphones and just chat to this model who has already been trained on, on this, and just ask it questions as many questions as you want.
[00:42:03] Mark: And it's like chatting to a consultant or an expert. And again, this is like for $20 a month.
[00:42:08] Rachel: Yeah. Absolutely. I use the voice model. I would say 80% of the time is lost, so I couldn't agree with you more.
[00:42:17] Mark: Yeah, I know that Heather Bayer, who is a, a big, big person in the SDR space, fantastic person. She says to me that she goes for walks in the woods out where she lives in, in, in Canada, and she'll just chat to, uh, chat to chat GP t and bounce ideas and back and forth.
[00:42:31] Mark: And I feel like that's, uh, it's such a good idea. It's like it's a, a, a mini therapist, so to speak.
[00:42:37] Rachel: Absolutely. Uh, same with me. When I'm cooking in the kitchen, it's usually when I'm cooking in the kitchen is when all the ideas come in. So then I'll put on my chat and I'll go back and forth and then she said this, and then I did this and what should I do?
[00:42:50] Rachel: But, but is she really thinking this? But what if she says this would I say? And so it's really interesting and I see that Harvard Business Review published an article last month saying that, um, the top three ways that Americans are using AI is for that. Type psychotherapy. That's interesting.
[00:43:11] Mark: That is interesting.
[00:43:12] Mark: That's really interesting. Yeah, I dropped
[00:43:13] Rachel: that in our AI group. Yeah. Harvard business is so emotional support with the top. I was like, oh my gosh. And seasonality playbook again. How do we want to position ourselves as hosts? We wanna be proactive, not just reactive, especially with midterm rental tools. Um, mark, one of the biggest misconceptions I see is when people get into midterm rental tools.
[00:43:36] Rachel: And they're like, okay, I'm a midterm rental now. Where are my bookings? You know? So there's gotta be some planning. It doesn't turn on overnight. So how do we plan? How do we adjust ourself? Is our calendar even protected to receive these guys? If you have two night bookings peppered all over your calendar, you're not gonna get any midterm rental bookings because you're not even showing up in search.
[00:43:57] Rachel: So that is one of the basics that AI won't be able to help you with. However. If you go and you have seasonality, playbook, and you have those conversations, where the best point for me to leverage the book? How do my calendar? 30 days, 60 day, 120 day bookings. I think we're gonna get even more personalized, um, than ever before.
[00:44:23] Rachel: That's, that's what I think the power of AI is. You can get a little bit more personalized, specifically for your property. Say you're a three bedroom, four, three bedroom, two bath. Say there's a five bedroom, four bath, or one bedroom bath. Like how do we position this specific property for this. Specific situation.
[00:44:40] Rachel: A one bedroom may be ideal for a travel nurse. However, when we're talking about construction crews, where they, they, they ride deep. They ride usually four. To six of them at a time. Then the, the GPT is going to adjust Right. Based on the, the property layout as well.
[00:44:59] Mark: Well, that's big and that's one of the things that we're gonna be doing with, uh, Reuben tomorrow.
[00:45:03] Mark: He's gonna walk us through how you can have your cake and eat it with the short term rental model. And the MTR model, how to set up your listings in a way where, like you say, you're not going to be able to cannibalize a really good MTR booking because your short-term rental calendar has got a, a, a very tricky two night booking in the formal down the line.
[00:45:24] Mark: So we're gonna be going through that tomorrow, which is a nice little setup. Um, what I've done is I've put into the chat the link to your Instagram. Awesome. And I've also put it in the WhatsApp and I'll send it out on an email later just so that everybody's has it. So if you do have any further questions and if you wanna get access to, uh, this GPT that, that Dr.
[00:45:44] Mark: Rachel and her team have created, which will save you so much time, uh, go ahead and get in contact on, on Instagram. Please go and say thank you as well. Seeing that the. Tricky chat here has been broken on, on Crowdcast. Um, now before we do wrap up, um, is there any other sort of thing that you would like to, to show us, walk us through words of wisdom when it comes to the, the, the things that you've learned the last six years with the, uh, with this MTR strategy and particularly with like the tools that you've been using recently.
[00:46:11] Rachel: At the end of the day, relationships are key. And, and that is why we created this section down here for us to start to make those relationships, start to make those contacts without being overly aggressive, just putting out your value proposition. So you even have as, uh, an outreach playbook, an idea of your cadence.
[00:46:33] Rachel: And so. Just because you don't have the availability right now for your property, say you're booked and you can't necessarily serve, uh, the clientele right at this moment. Having a network of other individuals that you can either share that deal with or communicate with, uh, puts you in a better position, uh, for future outreaches.
[00:46:57] Rachel: So if they know Mark, whenever I reach out to Mark. He finds a solution for me. Well, you become that go-to person for that insurance company or for that temporary housing agency. So I lead with, yes. I never say no, I have nothing. No, I have nothing. No. And this, this year of 2025 and access to billions of people on the internet.
[00:47:20] Rachel: You have the Brucely community. You have. Um, my community. I mean, just reach out and say, Hey, I've got a deal. Um, is there anyone who has any availability just to let that. Temporary housing agent know, Hey, this is someone who's really helpful, even if they don't have a property available, um, they're, they're sending us alternatives.
[00:47:44] Rachel: So we never wanna close that door because it pays dividends. Maybe three months from now, you may get a deal off of that particular situation. So I think, um, at the end of the day, relationships, relationships with your network, relationships with the insurance, uh, companies. Uh, personally, I've created WhatsApp channels inside of my community.
[00:48:05] Rachel: It's S-T-R-T-R, host of, um, Fayetteville, Georgia, right?
[00:48:10] Mark: Mm-hmm.
[00:48:10] Rachel: And we're sharing leads in there, so be that connector so that if they have an opening you're sharing in there, or if you. And opening. They're sharing it. And, you know, I
[00:48:23] Mark: think that's another, that's another very common theme with Ryan and, and yourself, is that these, uh, adjusters, these people who are at, uh, who are help match up people to accommodation.
[00:48:34] Mark: They don't wanna be dealing with 10 people. They don't wanna be dealing with 10 invoices. They don't wanna be dealing with 10 companies. Yeah. They, they don't wanna be dealing with 10 different OTAs. They wanna be dealing with one person. You've just said it there fantastically be the connector. I've always said become the go-to, but being the connector is, is just, just as solid of a, of a phraseology is that you wanna not say no, you wanna be saying, right.
[00:48:58] Mark: If Rachel was to call me today and say, mark, you know I need something, I need four or five months, you just go. Yes, leave it with me and just go to town on your network. And again, I I, I feel like it's, it's an overused cliche term, but your network is your net worth and you know what I mean? It's, it's, it's so powerful to be able to have this and do this.
[00:49:17] Mark: And like the Booley community is there, Dr. Rachel, your community is there. There's so many Facebook groups that you can just tap into. Just go and join and be part of, and, you know, you, you'll, you'll find your circle, you'll find your group. Peru and you'll just sort of narrow it down and, you know, uh, it's, it's uh, it's fascinating that you and Ryan have mentioned that and, you know, without me prompting Ruben tomorrow, I'd be interested to see if he goes down that I know he is gonna go down that route.
[00:49:40] Mark: I've heard Ruben talk about this a lot and he's probably one of the, a really good examples. You, you two both have these really good examples of this, so, yeah. Fascinating. Is there anything else that the GPT, I mean, you keep scrolling, you keep dropping more. Yeah, I was like, when does it stop? It keeps on going.
[00:49:53] Rachel: Just this one here. Minor league baseball, spring training. Like, seriously, I didn't know that. Right? Yeah. So you just never know what's going on in your particular market. Some things you may be aware of, but it surprises me every time I say, wow. That's another
[00:50:08] Mark: thing that Robert mentioned and I forgot about this, is that the Major League baseball teams.
[00:50:13] Mark: Because of, because of cli, because of the climates. Um, obviously in the north, like say New York or mm-hmm. Washington state or in certain northern state, they want warm weather training camps for their season pre. And what they are doing is they come to Sarasota, Florida, there's amazing facilities there.
[00:50:33] Mark: And again, you can tap into that. So again, this is, it goes back to that slide that you showed. Yeah, 50, 56 different niches and it's, and it's growing and counting. That will probably top 60 before you even know it. So don't just rule out we say MTR, but obviously like wherever you're based around the world.
[00:50:49] Mark: In the UK we call it service to accommodation. In Australia, you call it somewhere else in South Africa, you call it somewhere else as well, but it really is, this is why there is one in every five bookings on Airbnb are for over 30 days. This is like a growing trend. It's massive and obviously, you know, uh.
[00:51:07] Mark: This is the data you can't ignore. And the beauty of the MTR strategy is that when the short term rental world is going crazy over regulations, you know, everywhere in the world we seem to be, every single week you hear about overt tourism, especially in Europe at the moment, the MTR strategy will just be left alone because the hotel.
[00:51:25] Mark: Who are funding all of this leg, uh, reg regulations and legislation. They don't care about the NCR model. It's not their bag. So again, this is why it's, it's beautiful to be in. Uh, really, really thank you for that. Uh, Dr. Rich, can you just put up your Instagram again one more time? I. Absolutely. Um, just so people can, can get in contact with you and, and obviously get hold of that, that GPT and, you know, if people wanna, wanna reach out, is it, if I can send you a dm, if you, anybody wants to find out more about working with you, send you a dm, is there any website you'd like people to go to?
[00:51:55] Rachel: Yeah, you can go to 75 gems.com. That's the number seven five gms.com. And you'll see some of the. 75 markets we're looking at for STR and MTR on 75 gems.com and so we'll be able to connect that way as well.
[00:52:13] Mark: Class. Amazing. Mm-hmm. Thank you very, very much. This is lovely. I really do appreciate it. And again, uh, I really wish that Crowdcast would've started their chat 'cause I know there's so many people who in, who in the WhatsApp are sending me messages saying, this is great.
[00:52:25] Mark: And, and I guarantee there'll be more questions coming up. If you are watching this back on the replay again, please make sure you go to Instagram and just say thank you to Rachel. We'll be back. Tomorrow at the same time with Mr. Ruben Kenya. And like I said, he's gonna show you how you can have your cake and eat it with the STR model and the MTR model.
[00:52:43] Mark: But this has been day two. Really, really thank you, uh, Rachel for coming in today. And thank you for everybody who is tuned in. Take care Rol. We'll see you tomorrow.
