Frank Valencia, Sr. Managing Partner, and Victor Sanchez, Operations Manager, are part of Bongo PM Team. Their company, Bongo PM, focuses on AirBnB Property Management for vacation and short-term rentals. Their mission is to find the best real estate services for people looking for a home to rent or a vacation property to stay. This is a special episode where the guests answer the listeners’ questions from The Boss Lounge about short-term rentals. If you are a property owner or a traveler looking for a place to rent, this is a perfect episode to start your real estate journey. Frank and Victor explain what services their company provides and the fundamentals of short-term rentals. They will answer several questions that you yourself might be asking, including the best cities for property rentals, profitability, taxes, and income potential. Where we are: Johnny - Chiang Mai Sam - Denmark Links: BongoPM.com Discussed: ILAB 89 – AirBnB Income Stream, Investment Properties and 3rd Party Management with Frank Valencia ILAB 96 – 6 Keys to Protecting Your Properties From Lawsuits With Scott Smith Time Stamps: 10:09 – The services that Bongo PM provides 13:30 – What people look for in the properties they rent 14:36 – Important factors to keep short-term rentals up and running 16:06 – Determining factor if the property is profitable 20:41 – Understanding the fundamentals of short term rentals 21:32 – Tip and tricks in entering this industry 24:07 – Limiting one's liabilities 24:49 – Finding properties for short term rentals 25:54 – Purchasing a profitable property 26:47 – Impact of hotel taxes 27:41 – How to persuade the property management to allow short term rentals 29:19 – Projecting future income potential 30:31 – Best cities with best rental yields 33:45 – Insurance 34:34 – Properties in New York If you enjoyed this episode, do us a favor and share it! Also if you haven’t already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here! Copyright 2017. All rights reserved. Read our disclaimer here.