If you own a property that you only visit a few times a year and want to make money, starting a vacation rental business can be very profitable. This is due to increased spending on travel, vacations, and hotel rooms. According to Grand View Research, around 200 billion global tourists spend approximately $180 billion on travel annually.
It’s no secret that vacation rentals have great potential, and that’s why, after exploring different investments with his wife, Shawn Moore saw the opportunity in the market and decided to create his Vodyssey program. In this post, we’ll do a Vodyssey review. Is it really worth your time? Let’s find out!
What is the Vodyssey Program?
Vodyssey is a real estate training program that educates investors in the vacation rental business. It offers demonstrated systems and detailed training to specialize in specific areas such as the acquisition, management, and marketing of vacation properties.
With 1,858 active members and 1,023 acquisitions, according to the Vodyssey website, participants enjoy personalized property analysis, weekly calls with an active investor group, and access to a supportive community.
Who is Shawn Moore?
Shawn Moore is a real estate expert with 20 years of experience across various niches, including luxury and vacation properties. He co-founded Wasatch Luxury, hosts the Vacation Rental Revolution podcast, and authored a book “What the Hell Is a Lifestyle Asset?: How To Build Lifestyle & Financial Freedom Investing In Vacation Homes”.
Discover the 10 Best Podcasts for Business Owners to get tips and expert advice for running your own business.
What Do You Learn in the Vodyssey Program?
In the Vodyssey program, members learn how to start a successful vacation rental business using Shawn Moore’s 3D approach. However, some reviews don’t give all the information about the program.
What we do know is that the program includes access to a private Facebook group for support, as well as connections with top realtors, lenders, specialized CPAs, and lawyers. The 3D approach detailed in the program covers three phases:
1. Acquisition Phase
This phase focuses on planning your business strategy, understanding the types of buyers, and identifying profitable locations. It is about establishing a thematic direction, outlining business goals, and selecting ideal properties based on market research.
2. Management Phase
The program teaches effective management by emphasizing strategies to attract and satisfy guests through high-quality services. Options include self-management, hybrid, or full-service approaches, adapted based on proximity and level of involvement. A local porter is highlighted as crucial for handling daily operations and adding value to guest experiences.
3. Marketing Phase
The final phase focuses on branding and niche marketing. Training covers storytelling, professional photography, and competitive pricing strategies. It teaches transitioning from online travel agencies to independent marketing for sustainable business growth.
Bonus
The Vodyssey program offers tools for tracking customer niches and funnels for attracting targeted customers, besides high-quality content on brand building, attracting online visibility, and scaling up within the top level of properties in any given area.
How Much Does the Vodyssey Program Cost?
The cost of the Vodyssey program is $4,800, and it does not offer a refund policy. Accessing this information requires booking a free strategy session or downloading an e-book, a method used by Shawn’s team to filter potential participants.
This price aligns with similar real estate coaching programs, according to a shared list by The Close, but it may be high for beginners. If you’re interested in finding another real estate coaching program, be sure to read our Paperflips review.
Is Shawn Moore’s Program Legit or Scam?
Shawn Moore’s program is considered legitimate. To offer a balanced view, we researched Reddit and Trustpilot. On Trustpilot, the program has a 3.7 rating and is rated as “average,” but there is only one review available. This review praises the program for its clear advice, coaching, and supportive community.
The reviewer, who bought the course over two years ago, credits it with helping them own four profitable vacation rentals in California. He points out that the program requires investment and effort, and it’s not a get-rich-quick scheme.
How to Start a Vacation Rental Business?
To start a vacation rental business, consider following a series of steps directed at increasing profitability and guest satisfaction. According to a Grand View Research report, the market is projected to grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2030, offering a promising opportunity.
- Choose the Right Property: Look for properties near popular spots like beaches, ski slopes, city centers, or theme parks to attract more guests. Remember, location matters!
- Focus on a Cozy Interior Design: Make the space inviting with tasteful decor that appeals to guests and encourages social media sharing. Include essentials like Wi-Fi, a washer and dryer, a Smart TV, and pet-friendly options to add comfort and increase bookings.
- Create an Attractive Listing: Use professional photos to show off your property. Write clear, concise descriptions that highlight features guests can’t see in the photos.
- Set Competitive Rates: Price your rental to cover costs while staying competitive. Check local market rates to make sure your pricing is attractive and matches the amenities you offer.
- Promote your Property: List on multiple platforms like Airbnb, Booking.com, and Vrbo. Use SEO strategies to boost visibility and rankings. Keep an organized calendar to avoid double bookings.
- Build a Direct Booking Option: Don’t rely only on Online Travel Agencies (OTAs). Use tools like Hospitable to create a direct booking website, giving you another way to earn and increase occupancy rates.
Vodyssey Review: Ideal for Learning About Vacation Rentals?
While the course content lacks detailed clarity, Shawn Moore’s reputation lends it credibility, especially in today’s market, where, according to Grand View Research, travelers more and more prefer vacation rental properties over hotels due to their affordability, greater comfort and privacy, and child- and pet-friendly places to stay.
If you are considering entering this market, our review of the Vodyssey course could be helpful. However, it’s also important to explore other options the market offers, such as renting homes without owning property, a strategy taught by Shaun Ghavami and Ari Rahmanian in their 10XBNB course.
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Frequently Asked Questions (FAQs) About Vodyssey Review
Do You Need Real Estate Experience to Benefit from the Vodyssey Program?
No, previous real estate experience is not required to benefit from the Vodyssey program. Shawn Moore designed Vodyssey to be accessible to a wide range of participants, including beginners who are new to the vacation rental market, current owners facing profitability challenges, and experienced investors looking to expand in the short-term rental space.
Is It Possible to Make Money with the Vodyssey Program?
Yes, it is possible to make money with the Vodyssey program. The program offers a structured, step-by-step approach to building a beneficial vacation rental business through its 3D phases. Here’s a simplified breakdown:
- Define Your Business Vision and Understand Property Types: Begin by outlining the concept, goals, and niche of your vacation rental business, with coaching to refine your business’s purpose and strategy. Gain insights into the benefits and challenges of various property types, from single homes to multifamily units, to make better decisions.
- Identify Ideal Markets and Build a Local Team: Select real estate markets that align with your chosen niche and business style. Establish a local team, including management, cleaning, and maintenance, to improve the guest experiences with valuable local knowledge.
- Secure Financing and Create an Inviting Space: Obtain the necessary financing and seek out off-market deals with help from the program’s network of lenders and realtors. Focus on setting up a welcoming space with quality interiors and services that align with your niche, ensuring a great guest experience.
- Launch and Optimize Your Listing: Create a strong market presence with attractive descriptions and professional photos that captivate your target audience. Use strategic pricing and long-term branding efforts to attract interest and earn positive reviews.
- Expand Your Reach Through Advanced Marketing: Once your business is stable, shift to paid marketing strategies to extend your reach beyond traditional platforms like OTAs. Incorporate discounts and special offers to attract a wider audience and boost bookings.
Is it Worth Investing in Short-term Rental Housing from 2024 Onwards?
Investing in short-term rental housing from 2024 onwards looks promising, according to AIRDNA. The market is expected to maintain stable occupancy rates, with increasing demand for distinctive and luxury properties, such as treehouses and eco-retreats.
Additionally, the adoption of technological innovations like artificial intelligence and virtual tours is set to enhance guest experiences. Moreover, the growing trend of slow travel, which calls for longer stays and deeper local experiences, is likely to increase demand for these rentals.
