MI288: Experiencing Unique Stays w/ Ben Wolff

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Investing, Education, Business

4.6 • 592 Ratings

🗓️ 28 August 2023

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

Patrick Donley (@JPatrickDonley) sits down with Ben Wolff to discuss his strategy of building a “unique stays” portfolio. You’ll also hear about how Ben first got involved in the Airbnb/STR market, how he went about his first unique stay development, how he thinks about taking on risk and making entrepreneurial moves, and how he is building his team at Onera. Ben co-founded a fund overseeing $65 million in experiential hospitality real estate, featuring treehouses, safari tents, and container homes. He's the CEO of StayOasi, an experiential hospitality management firm, and played a key role in developing StayOasi properties like Onera and Spirit of Sophia. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 02:10 - Why Ben feels “unique stays” are the way of the future. 03:43 - How Ben first got involved in the Airbnb STR market. 06:02 - How he handled the fallout from the pandemic. 08:59 - How he went about finding land for his first development. 14:34 - Ben’s strategy has been for raising money for his projects. 16:20 - How they went about finding great designs for the treehouses. 27:00 - How Ben went about building a direct booking engine through social media. 32:43 - How Ben thinks about making career decisions. 35:35 - What the books and people that have influenced his entrepreneurial career have been. 39:09 - How he has gone about building the team at Onera. 45:19 - What his new project in Texas is going to look like. 53:14 - What an average day looks like for Ben. 54:36 - Why Ben and his team are increasingly focused on content creation. 57:07 - Why he feels the higher-end unique stays market has much more room to grow. *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Sign up for TIP’s free newsletter, We Study Markets. The Everything Guide to House Hacking by Robert Leonard. Related episode: Listen to REI135: Unique Multi-Unit Airbnb/STR w/ Isaac French, or watch the video. Related episode: Listen to REI192: Building an Empire w/ Nick Huber, or watch the video. Related episode: Listen to REI170: Transforming Spaces w/ Antonia Botero, or watch the video. How to Win Friends and Influence People by Dale Carnegie. Stayonera.com to book. Onera’s Instagram. NEW TO THE SHOW? Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle’s favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Connect with Patrick: Twitter Connect with Ben: Instagram | Website Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0	You're listening to TIP. We wanted to try a bunch of stuff and really blow people away with unique
0:06.0	units and the different options they had in terms of staying with us. Tent, tree house, container home,
0:13.2	dome. And part of it was just seeing what does the best. What's the easiest to manage? What's the
0:19.4	biggest pain operationally? What's the most expensive,
0:23.1	least expensive, just thinking about all those things.
0:28.1	Hey, everybody. In this week's episode, I got to sit down with Ben Wolf to chat about his
0:32.6	strategy of building a unique stays portfolio. You'll also hear about how Ben first got involved in the
0:38.5	Airbnb short-term rental market, how he went about his first unique stay development,
0:43.5	how he thinks about taking on risk and making entrepreneurial moves, and how he's building out
0:48.0	his team at O'Nera. Ben is currently building and managing $65 million worth an experiential
0:53.8	hospitality real estate,
0:55.3	which includes tree houses, safari tents, and container homes through a real estate fund that he co-founded.
1:01.2	He's the founder and CEO of Stay OAC, which is his experiential hospitality management and
1:06.8	growth firm. He's also the co-founder of Onera in Texas and the spirit of Sophia in Palm Springs.
1:13.5	Prior to getting involved in the unique stays market, Ben grew a short-term rental management
1:18.0	company from 8 to 200 units in just 18 months. Be sure to give this episode to listen and also
1:23.8	make sure to check out Ben's unique properties online. Without further delay, let's get into this week's episode with Ben Wolf.
1:32.4	You're listening to Millennial Investing by the Investors Podcast Network,
1:36.8	where your hosts, Robert Leonard, Patrick Donnelly, and Kyle Greve,
1:41.0	interview successful entrepreneurs, business leaders, and investors to help educate and inspire the millennial generation.
1:52.7	Hey, everybody. Welcome to the millennial investing podcast. I'm your host today, Patrick Donnelly. And joining me today is Mr. Ben, welcome to the show.
2:05.2	Thanks, Patrick. Really appreciate you having me on.
	...

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