Challenge: Turn a retirement hobby into a profitable, but not time-consuming, investment.
Frank Ellis has always believed if you’re going to do something, you should do it first class. So when he decided to hand his existing business down to his son and take up vacation rental as a hobby in his retirement, he didn’t pinch pennies. He bought a beautiful property in the Las Vegas area and hired an interior decorator to make it shine.
Then Frank called VRBO and asked them what he should do to create a first-class listing on their network. They told him that the easiest way to meet all their requirements would be to work with Evolve.
Frank hadn’t heard of us before. But he’s had a first-class vacation rental business ever since.
When Frank gave us a call, he started working with one of our Homeowner Consultants, Adam. “He was great to deal with. He did everything by phone because I don’t like email, and he explained everything in detail to me.” Frank was impressed by just how much Evolve provided for a mere 10% fee.
Frank hadn’t considered a management company before, as he’d wanted his vacation rental to keep him active in his retirement. He already had a trusted cleaning team ready to help and he planned to do upkeep himself, but he was glad to know we had vetted partners available whenever he needed an extra hand. With Evolve providing marketing and booking to complement his on-the-ground team, Frank figured he’d have a good system on his hands.
In his first three months, Frank had already booked over 120 days, and he was starting to think this investment was going to be unexpectedly fruitful. By the end of his first year, he’d made $127,911. He’s been with Evolve for 18 months now, and he’s earned a grand total of $177,105 on that first rental property alone.
Frank has had such a good time with his retirement project that he’s expanded to additional properties. His second property in Las Vegas is already earning rental income, and Frank’s mapping out plans to buy land and build even more properties. “It’s good money for old people to live on,” he says, laughing. “And working with Evolve, it’s real easy to make.”