Intro
[00:00:00] Liam: Hey everyone. Welcome back to the Boostly podcast. This is the podcast that gives hosts the tools, the tactics, and the training, but most importantly, the confidence so you can go out there and be talking about personal finance, reaching in, uh, reaching financial independence. And to help us do that, we've got a successful short-term rental host, and we're going to be asking questions about his business, finding out.
[00:00:24] What's worked for him and his business, but also he's very passionate about personal finance. He's also now a best-selling co-author of in Hospitable Hosts, which is an amazing project, uh, which we're going to talk more about as well. So today, uh, we're welcoming, uh, Vinci. Uh, Vinci Sevilla, and he's from Getaway House.
[00:00:45] And, uh, yeah, I'm excited, to dive into his story. So, welcome along Vinci.
[00:00:50] Vinci: Hey Liam. Thanks for having me. Excited to be here. Yeah, looking forward to it, man. Well, uh,
A bit about Vinci
[00:00:55] Liam: me too. Let's, uh, let's get started. Can you introduce yourself, um, tell us a bit about where your business is based and I guess who it is that you host and why?
[00:01:06] Vinci: Oh. So I, I'm over here. Uh, I currently live out here in Southern California. Um, you know, father of a one-year-old, our, our, our first and, uh, and husband and, um, I am currently still working a full-time job. Um, while my wife and I build this, uh, you know, short-term rental, um, technology-driven company, uh, that we have, uh, the getaway house is the name of our company and we, uh, currently specialize in luxury, uh, short term rentals.
[00:01:42] Uh, around the nation here in the U.S. Um, we're currently in four states and we currently have, uh, eight properties, uh, closing on three more over the next two months. So we're excited about it. Um, typically our markets are in vacation markets. So we're talking about in California, we're in Joshua Tree and Big Bear, California, and in Arizona, we're in Scottsdale and Tennessee, we're in the Great Smoky Mountains, and we are also in a new market in West Virginia called the New River Gorge National Park.
[00:02:21] Which is the U. S. uh, latest and greatest national park. The title of this poem, which you can find on the first page of Hospitable Host 2, is um, the title is, What's it like then, being a hospitable host? What's it like then, you ask, being a hospitable host? Turning my home into something to boast. A gentle touch, a hammer swung.
[00:02:49] No detail left undone. A painting here, a mural there. Little figurines fill the air. I opened my home and invited them in to enjoy the comfort and beauty within. I strive to make their stay a delight with a clean and cosy space that feels just right. I offer them treats, amenities, and books to read and make sure they have everything they need.
[00:03:13] A place to eat? Maybe a nice view to sit and idle? Don't fear, our guidebook will be your bible. I am a host with a passion for sharing. The joys of home and the pleasures of caring. I love to see my guests happy and content. And leave with memories of a place well spent. I am a host and provider of rest. A friend to travellers on their journey's quest.
[00:03:38] I offer them a home away from home. A haven of peace and a place to roam. This is what it means to be a hospitable host, bringing joy and comfort to those who need it most.
What was the drive for the change in short-term rental?
[00:03:50] Liam: I started my business just shortly after my little boy was born, my firstborn. And was that one of the driving factors of getting the business off the ground?
[00:03:59] Was that the reason? What, what did you do before this? What, what is your history before, um, hospitality and was the newborn family, the drive to make the change in short-term rental?
[00:04:11] Vinci: Um, it was the fire. Let's say that, right? So a lot of it involved, um, uh, really before getting to short-term rentals.
[00:04:24] We, um, we did invest in real estate already. We were house hacking. Um, so that's where, you know, we had bought a property. We were living in one side of the house and we were renting out other rooms. And then, um, we also had long-term rentals. So we had properties in out of state and, you know, was, which was given us a very modest amount of cashflow.
[00:04:52] Um, But having serenity, the name of my daughter, um, having her and kind of going through this, uh, realizing my wife was pregnant, we, it kind of just like, it was something that just fueled the fire to everything. And, um, that's how we're able to scale from one to eight within 12 months. And, um, and now we're, you know, we're, we're continuing to grow and continuing to, you know, specialize in short-term rentals across the country.
[00:05:29] Looking
[00:05:30] Liam: back, what were the key drivers? Um, To move you from where you were, to where you are now. What would you say are some of the lessons that you've, you've brought along the way?
[00:05:41] Vinci: Uh, well, you know, I, I think it kind of goes back to, you know, the culture and the environment that I was raised in.
[00:05:49] Um, one, I, I was, you know, wasn't born here in the States. I was born in the Philippines. I came here, I swam here when I was a kid. ,. Um, and so, uh, let's see here. You know, English wasn't my first language. And kind of going through my entire life, you know, as an immigrant here in the US. There are a lot of challenges, and I didn't, you don't think about it as a kid, you're kind of just like going along with mom and dad, and your brothers and sisters, and kind of like you know in this new country, and trying to figure things out.
[00:06:26] You think that everyone else around you is also in the same position as you struggling to make ends meet. Um, hustling, working day and night, um, working alongside my parents also pretty much my entire life. Um, working on really odd businesses, you know, doing, doing different things. And, um, all of that kind of like gave me the drive for, I guess my work ethic.
[00:06:53] Um, and the. The awareness to see that. Hey, you know what, you don't need a lot in life to, um, enjoy life and to be with your family, um, and be present and be grateful and be content. Um, but what you can do is you can, you can, you can set up something that your future family and. Something that is what we term out here, you know, generational wealth, you know, provide that type of generational wealth and knowledge to the rest of our family members.
[00:07:33] And that's something that I never had when I was a kid. And so going through this and learning all that and discovering all this, you know, as an adult, um, was mind-blowing. And, um, that, that kind of, you know, bled into, you know, this business into the short-term rental industry, being a hospitable host, um, caring for our guests and, you know, figuring out what we needed to do to, um, get where we wanted to go.
Having a luxury market
[00:08:02] Liam: Having that luxury market seems to be a great way to go because you can keep the higher average daily rates. And also they're a bit, wow. You know, you're, you're serving a, an avatar, which aren't going to be as affected by. Inflation and, and some of the things which happened in the market. Was that intentional that you set out to go for that market?
[00:08:24] And if so, why, and how have you implemented this, this luxury, um, these luxury brands, because, because my opinion, and I'm sure people listening is like, Hey, I don't know if I can afford some of the very nice places. I don't know if I can do this. What would you say to people with that kind of mindset?
[00:08:41] Vinci: It wasn't on our radar when we first started.
[00:08:43] We were just like, we want to get our first short tormented. Our first short torment happened to be just a podunk, you know, cabin, um, in the Smoky Mountains, but it was near a creek. It was adjacent to a creek. It sits on a creek, um, and it's got a private staircase to it, and it's got a private game room, and it was nice.
[00:09:04] But what we found was, um, you know, one of the biggest reasons why we pivoted to short torments was You know, the, the cashflow, right? You get a significant amount, amount, uh, a significant amount more cashflow, um, than a long-term rental. And even in the short-term rental space, I realize, well, you can, if you invest in the type and the right type of short-term rentals, um, that could be the same thing instead of getting multiple short-term rentals that are in the, let's say 50% mid-space.
[00:09:37] You know, you could be, um, getting properties in the 90, 95% percentile, um, in terms of, you know, occupancy and, uh, ADR. And so we try to target those types of properties shortly after discovering this, um, whether it's co-hosting client, uh, properties for other clients or purchasing them ourselves. And so, um.
[00:10:01] Yeah, no, it wasn't immediate, but it was something that we decided, you know what, we don't want to handle too many properties. We want to target the luxury ones that, you know, have high occupancy and a high average daily rate, especially if we want to stand out in this market. Um, so that was the, the, hopefully, that answered your first question.
[00:10:20] Um, and as for your second, you know, trying to, for someone out there who wants to get into that type of, Type of asset class. Um, and let's say may not have the financing for it. Um, you know, there are creative ways to Purchase those pop kinds of properties nowadays. Um, but there are also creative ways for you to list them Um, for example through co-hosting, you know, if you already have the processes and tools and automation for your short-term rentals, it's using the same tools, same processes, same systems for the high-end luxury type of properties.
[00:11:04] And you can apply those and partner with other people to purchase those types of properties, showing them that, Hey, with your processes, your systems and your automation. You can provide great returns. For your investors and your partners and yourself. So I would suggest, um, folks to, you know, tell everybody and anyone, you know, what you're looking for and what you're doing.
[00:11:34] And, um, I think, you know, you can begin. Um, utilizing, you know, your social media, utilizing what you already know to connect with others to be able to purchase those types of asset classes.
[00:11:47] Liam: Having a blast. Gonna get it on the Boostly podcast. Bruce Lee. Let Bruce Lee 'cause it's so hard on the tees.
[00:11:53] Loosely. I looked up those rhymes. Don't write it, just do it loosely.
