Why Luxury Rentals are Short Term Rental Gems with Rachel Gainsbrugh - Episode #181

This week in the lab we have no other than our very own practitioner Dr. Rachel Gainsbrugh, a pharmacist by day and Short Term Rental Investor by night. Dr. Rachel cracked the code to generate income without having to punch a time-clock, work overnights or 14-hour shifts. By day she is a trained hospital informatics pharmacist. By night she is the owner, with her husband Jesse Gainsbrugh, of a growing luxury short-term rental empire spanning three states (Georgia, Pennsylvania, and Florida). Dr. Rachel is also the founder of Short Term Gems, a high-level resource portal and online luxury short-term rental academy, teaching busy professionals all the action steps to cash in on passive income via luxury rentals. Rachel is also generous with her time. She shares relevant trends and opportunities freely in Clubhouse rooms and on Facebook Live interviews with her 1,500+ members of a private Facebook group called Luxury Real Estate Investing for Financial Independence: Short Term Rentals. Short Term Gems is a resource portal owned and operated by Dr. Rachel Gainsburgh, based in Peachtree City, GA. Founded in 2019, Short Term Gems is educating thousands of working professionals on the action steps to enter and profit in the short-term rental industry. If you want to learn how you can make money with luxury short term rentals, you’ll definitely learn what you need to get started with Rachel Gainsbrugh. Let’s build! HIGHLIGHTS OF THE EPISODE: 01:28 - Introduction 03:56 - Avoiding the Commodity 09:11 - What is a Luxury Short Term Rental and what makes it different from STR 16:27 - What a Luxury STR workflow is like KEEPING IT REAL: 20:31 - Getting the client and implementing the experience 25:00 - How to make a unique and repeatable system that can be scaled 29:08 - The dynamics of structuring a concierge team 33:30 - What makes a luxury product 39:16 - How to maintain a pet friendly environment 46:11 - What a good stepping stone is to convert a unit to luxury STR 52:35 - Baselines that make sense 55:26 - Long term bookings 58:38 - Building the relationship 1:01:59 - Negotiating the price 1:08:58 - What we should be looking out for 1:14:44 - What someone is willing to pay to fix  a pain point 1:27:17 - Solving the pain points NOTABLE QUOTES (KEY LESSONS): 10:05 "If you can curate an environment where the communication is top notch, you curate an environment where they connect with one another, they can connect with nature, they can live like a local and have an authentic experience, you are on the precipice of a luxury rental" - Rachel Gainsbrugh 0:02 “When we’re competing with everyone, it makes us a little bit more of a commodity. I didn’t want to be a commodity, and that’s why it was important for me to niche.” - Rachel Gainsbrugh CONNECTING WITH THE GUEST Website: https://rachelbnb.com LinkedIn: https://www.linkedin.com/in/dr-rachel-gainsbrugh-4bb33721/ Facebook: https://www.facebook.com/groups/422973842093365 Instagram: https://www.instagram.com/short.term.gems/?hl=en #LuxuryShortTermRental #STR #NichingDown