OCTOBER 15, 2024
#102: Achieve Financial Stability in Your Short-Term Rentals with Amanda Neely
Feeling Anxious About Your STR Finances? You’re Not Alone—But I’ve Got You Covered!
Take a deep breath. I know how those money worries can creep in, especially when it comes to the unpredictable world of short-term rentals. That’s why I’m beyond excited to introduce you to the incredible Amanda Neely. She’s bringing her rock-solid strategies to help you build a financial foundation to help you weather the ups and downs.
Meet Amanda Neely: Your Financial Game-Changer
Amanda is the down-to-earth financial guru you’ve been waiting for! No fluff, no jargon—just practical, no-nonsense advice to help you get your finances on point. Together, we’re going to dive deep into the money side of having an Airbnb business, and if you’re ready to get real and take control of your financial future, stick with us—this is where the transformation begins!
Get Ready for Game-Changing Insights to Build Financial Stability
Here are just a few of the incredible insights Amanda will share with us:
- Identifying if You’re Over-Leveraged: Learn how to assess your financial health and recognize when it might be time to dial things back.
- Building a Contingency Fund: Set up a safety net to help you handle those unexpected income dips.
- Mastering Percentage-Based Budgeting: Amanda’s flexible strategy will empower you to navigate the rollercoaster of STR income with confidence.
By the end, you’ll be feeling more in control of your finances than ever!
Plus, Amanda’s Got Some More Game-Changing Tips Up Her Sleeve
And, of course, there’s more! Amanda will also dive into:
- Separating Personal and Business Finances: She explains why it’s so important to keep these distinct and how it can protect your hard-earned assets.
- Retirement Planning for Young Entrepreneurs: It’s never too early to start, and Amanda has tips designed to help you secure your future.
- The Power of a “Money Team”: Find out why surrounding yourself with trusted financial advisors is a total game-changer for anyone looking to grow and safeguard their wealth.
Whether You’re a Pro or a Newbie, This Episode Has Something Just for You
So whether you’re a seasoned STR pro or just getting started, this episode is packed with insights and actionable advice to help you take control of your finances and set yourself up for lasting wealth. There’s something here for everyone, so don’t miss out!
Tune In & Transform Your Financial Future!
It’s time to level up the financial side of your rental business. Tune in, and let Amanda’s insights inspire you to build a rock-solid foundation for lasting success. Your future self will be so grateful you did!
Highlights and Key Points:
[01:56] A short introduction about our guest Amanda Neely
[03:34] The percentage of women financial planners from Amanda’s vantage point
[04:53] What are some strategies that Amanda recommends for achieving financial security
[07:16] Amanda’s insights on how would someone know if they’re “over leveraged”
[09:13] How can you determine how long to cover expenses without new bookings
[11:31] Tips on strategically planning and managing Contingency Capital across multiple LLCs
[17:04] How does Amanda use Percentage-Based Budgeting to build stability in a variable income STR business
[21:10] The critical importance of separating personal and business finances
[26:34] Distinguishing Emergency Funds and Contingency Capital
[29:01] Amanda elaborates on the concept of “Mad Money”
[30:16] The importance of integrating retirement planning into the hustle of building a business
[37:30] Common financial mistakes that entrepreneurs make and how to avoid them
[42:34] The lightning round
Golden Nuggets
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“Let’s build the middle class through business ownership and through real estate, tangible assets, things we can hold, and let’s do it in ways without taking unnecessary risk.”
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“Risk is, you know, part and parcel with having a business or getting into real estate, there is going to be some degree of risk. I’m talking about not taking any unnecessary risk. Take the necessary risk story you want to go, but let’s avoid all the unnecessary and part of that would be, you got to not over leverage.”
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“If you’re not sleeping well at night right now, you’re probably over leveraged.”
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“Opportunity finds people who have the money for it.”
CONNECT WITH OUR GUEST
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Hey, you!
If you’re a fan of my show, I want to say THANK YOU. Seriously, from the bottom of my heart – I couldn’t do this without you.
There’s one thing that would make me even more thankful – having your support through ratings and reviews on your preferred podcast player.
This helps me reach more people (just like you) who are eager to achieve their STR goals and dreams.
It’s super easy – just click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode!
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I’ll be adding a bunch of bonus episodes to the feed and, if you’re not following, there’s a good chance you’ll miss out!
Thanks again, sister – and cheers to your STR success!
