More Profits from Upselling your Amenities in your Short Term Rentals with Madison Rifkin - Episode #217

Madison is a startup genius, born and raised in a family of entrepreneurs and a third to triplets. So already this is going to be three times more interesting because of her background on tech startups and how she’s transitioned that experience into the short term rental industry, as the founder of Mount. A company she essentially started when she was only 12 years old. At just 25 years old today she is the CEO of a company that is revolutionizing the way we look at our amenities as income producing opportunities in your short term rentals. Madison runs a successful model that opens up additional revenue for hosts by including additional rental amenities that would have otherwise been overlooked. These are anything from propane tanks, to firewood, to surfboards, to their most popular (by far) electric bikes. That last amenity, in a way, is where Madison’s path to the real estate industry began because she also created a startup renting out scooters. From Madison’s grandfather, who built businesses in the 1950s, to her grandma’s cooking school, her aunts and uncles’ purse company, to even now her cousin’s restaurants, it’s clear to see that entrepreneurship runs in their blood. Evident in Madison creating her own bike lock when she was twelve years old that set her on an early path to building a business mind. Today, she tells a story about her father coaching their triplet trio in a soccer game and how they’d just connect like that innately Madison’s background is just as interesting and inspiring as her achievements. And in the lab, we have a feeling that she is just getting started. GUEST SUMMARY Get Your Airbnb Millionaire Blueprint: https://experimentrealestate.com/#blueprint HIGHLIGHTS OF THE EPISODE: 25:48 Madison started her company when she was 12 45:36 The story behind Mount’s name and logo KEEPING IT REAL: 04:44 What do you do for a living 06:08 Leveraging more rental amenities 07:31 Who is it for and not for 13:22 Defining the line of guest convenience 16:44 How rental amenity works 18:56 Fees structure 25:48 A family of entrepreneurs 31:08 The triplets 35:52 Sports and entrepreneurship 41:14 Key takeaways from running a business 45:36 The story behind Mount’s name and logo 48:01 How to get started with Mount 51:20 About Insurance on amenities NOTABLE QUOTE: 31:17 “I look at failure as a success because it means you tried something that didn't work and you've narrowed down the list from a hundred to 99” – Madison Rifkin CONNECT WITH THE GUEST Website: https://www.rentmount.com/ LinkedIn: https://www.linkedin.com/in/madison-rifkin-23037712a/ Get Your Airbnb Millionaire Blueprint: https://experimentrealestate.com/#blueprint Get coached on how you can repurpose your existing home or investment property into an Airbnb with me: https://experimentrealestate.com/hospitable-hosts Guesty Unique Link: https://hosts.guesty.com/?=therealestateexperiment Hospitable Hosts book: https://amzn.to/3e4LEhE #rentalamenities #amenities #rental #airbnb