Episode 128: Matt and Taylor are joined by Derrick Sabourin.
Derrick is a Managing Partner of Samson Waters Vacation Rentals from Vernon, BC, a property management and optimization service for shot-term rentals across Mexico and the Oakanagan.
A former high school teacher of English and Spanish, Derrick realized he wasn't as fulfilled in that career path as he wanted to be. After a talk with his cousins, who founded Samson Waters, he moved to Mexico from Manitoba, thus starting his real estate journey. After a year, he decided to follow them to the Okanagan, and has been steadily growing their short-term rentals portfolio ever since.
Derrick is here to discuss:
→ His journey into short-term rentals, the benefits of working with him, and his future plans.
→ The pitfalls of self-managing rentals, what makes Samson Waters different from other property management companies, and the 2 tiers of their "hands off" approach.
→ The ultimate goal of STR and how to optimize pricing, the biggest revenue drivers, and the importance of amenities is profitability.
→ The current state of the short-term rental (STR) market and policies in the Okanagan and what makes a place like SilverStar different.
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CHAPTERS
00:00 Cold Open
05:38 Today's Guest: Derrick Sabourin
11:11 Current State of Okanagan STR Policies
14:02 Current State of the Okanagan STR Market
16:54 What Makes Samson Waters Different
19:23 Where Derrick is Focusing His Business
19:50 The 2 Tiers of the "Hands Off" Approach
20:49 The Biggest Revenue Drivers of STR & Self-Managing Pitfalls
22:51 The New Platform Stay Finder & the Ultimate Goal in STR
25:26 The Importance of Amenities in STR Profitability
29:58 The SilverStar Market & Optimizing Rental Pricing
35:30 Derrick's Expansion Plans
36:10 Benefits of Working with Derrick
38:04 How Long it's Taking to Get Licensing from the City
38:37 Bylaw Enforcement, Noise Censors, & Business Licenses
40:52 Wrap-Up
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CONNECT WITH THE GUEST
🌎 Samson Waters' Website: https://www.samsonwaters.com
📸 Samson Waters' Instagram: https://www.instagram.com/samsonwaters/
🔗 Samson Waters' LInkedIn: https://www.linkedin.com/company/samson-waters-vacation-rentals/
📧 Derrick Sabourin's Email: derrick@samsonwaters.com
📸 Derrick Sabourin's Instagram: https://www.instagram.com/derricksab/
🔗 Derrick Sabourin's LinkedIn: https://www.linkedin.com/in/derrick-sabourin-030070283/
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CONNECT WITH THE SHOW
🎙️ Kelowna Real Estate Podcast: https://www.kelownarealestatepodcast.com
📺 Kelowna Real Estate Podcast YouTube: https://www.youtube.com/@KelownaRealEstatePodcast
📸 Kelowna Real Estate Podcast Instagram: https://www.instagram.com/kelownarealestatepodcast/
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CONNECT WITH MATT
🌎 Matt Glen's Website: https://www.venturecommercial.ca/our-team/matt-glen
📬 Matt Glen's Email: matt.glen@venturecommercial.ca
📸 Matt Glen's Instagram: https://www.instagram.com/realmattglen/
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CONNECT WITH TAYLOR
🌎 Taylor Atkinson's Website: https://www.venturemortgages.com
📬 Taylor Atkinson's Email: taylor@venturemortgages.com
📸 Taylor Atkinson's Instagram: https://www.instagram.com/venturemortgages/
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