In this episode, Alex and Annie are joined by Mike Reinman, Owner of Casago Kona & Owner/GM of Casago Redwood Coast. Mike sold Redwood Coast Vacation Rentals to Vacasa at the end of 2019. After speaking with Casago CEO Steve Schwab, Mike decided to return to the industry and purchase a STR business in Kona. This is where his partnership with Casago began, and what laid the foundation for his next venture with Casago Redwood Coast.
Mike started in the short-term rental industry by converting his garage into a rental space. He then managed to scale this business to a staggering 142 properties before ultimately selling and taking a sabbatical from property management.
During his time running Redwood Coast Vacation Rentals, Mike had been approached for a franchise opportunity with Casago, but he ended up going in a different direction. When Mike sold his first STR business, Steve Schwab approached him with the opportunity to purchase a vacation rental business in beautiful Kailua-Kona, Hawaii, and so their partnership began.
Mike attributes his decision to invest in Casago Kona to the support system that Casago brings to the table for their operators. He had experienced dissatisfaction with the previous software providers and booking vendors he had used, and those experiences made him doubtful of ever wanting to get involved in the vacation rental space again, given the struggle of ensuring operational soundness and profitability.
A big selling point for Mike was the community aspect of being a Casago business. Having the ability to confide in other vacation rental owners and get their expertise on how to better run a vacation rental business has been a game changer and brought many new insights to Mike’s already astute understanding of the vacation rental industry.
Mike’s appreciation for the way Casago works with their property managers didn’t appear from thin air. When he sold his first business to Vacasa, he wasn’t a huge fan of the corporate atmosphere. To be a successful property manager, you must have a broad understanding of various aspects of the business, and Mike didn’t feel like this was reflected in the conversations he had with members of the Vacasa team.
Tune into this episode of Alex & Annie to hear more insights on what a proper support system can do for your vacation rental business!
HIGHLIGHTS:
02:01 Mike’s Journey to California and the Inception of His STR Business
06:58 How Mike Started Evaluating His First Casago Project
10:25 The Struggles of Running a STR Business in Hawaii During COVID
11:34 How Casago’s Support System Closed Mike
15:17 Growing Together With Other Successful Property Managers
19:25 The Importance of Consistent Coaching
25:05 Mike’s Experience Working with Vacasa
27:42 Mike’s Approach to Leadership
This episode is brought to you by Casago, Guest Ranger, and Good Neighbor Tech.
Visit AlexAndAnniesList.com to view our top picks for the best suppliers in vacation rental technology and services.
Special thanks to Rev & Research for being the presenting sponsor of Alex & Annie’s List.
Connect with Mike:
Website - https://casago.com/blog/welcoming-the-redwood-coast-franchise/
LinkedIn - https://www.linkedin.com/in/mike-reinman-987b4a20/details/experience/
Connect with Alex and Annie:
Alex Husner - https://www.linkedin.com/in/alex-o-husner-%F0%9F%8C%8E-1844306/
Annie Holcombe - https://www.linkedin.com/in/annie-holcombe-vrgal/
