Today we’d like to introduce you to Becca Stiles-Nogosek.
Hi Becca, can you start by introducing yourself? We’d love to learn more about how you got to where you are today?
NogoHomes started as a side hustle. Before I became a full time entrepreneur I worked in the non-profit industry for almost 2 decades. I had several side hustles to support my income. We were early adopters of short term rentals (like airbnb) and whenever we would travel we would often talk about what we would do the same or differently at each home. We would also ask ourselves, ‘Why aren’t we doing this?’ We eventually stayed in a rental in Sweden that had a studio loft attached to their detached garage and we were inspired to turn our then music studio into a loft studio and the Hygge House was born (https://www.nogohomesmn.com/property/HyggeHouse). We thought it would be a project for some fun money and additional space for when friends and family visited. Within 3 weeks of listing the property it was 90% occupied and we were turning business away and we knew we were onto something.
Today we own 3 properties, Hygge House, Color House, & Little House, and manage 19 homes and apartments. We recently purchased an RV for rental as well!
Can you talk to us a bit about the challenges and lessons you’ve learned along the way. Looking back would you say it’s been easy or smooth in retrospect?
Many people say that starting your own business is one of the hardest things that you can do. That hasn’t been my experience. At least not the majority of the time. I came from a career that required hyper organization, resourcefulness, and community connections to be successful. It was also a very demanding and high stress career. I was able to assess what parts of my previous jobs that I liked, and which I would like to avoid. This process was really helpful when I was building my current career. However, the ultimate test for my business was when my baby was born. I had meticulously planned my maternity leave to begin 2 weeks before my due date, and to end 2 months after my due date. However, due to medical necessity, my baby was born 2.5 months before she was due to arrive. So, we were faced with a 4 hour window to, not only process the possible implications for my health and the health of my baby, but also handing over my entire business way before any of us were ready. Our baby had to spend almost 2 months in the ICU so my priorities changed VERY quickly. It was the ultimate test for my type A personality and my business. I’m happy to report, our sweet baby Freyja, and our business is thriving today. And while I wouldn’t want to do it again, it was a great reminder that if one builds the system and structure for success, it’s much easier to navigate the unexpected.
Thanks for sharing that. So, maybe next you can tell us a bit more about your business?
We are a short term rental company that specializes in accommodations, consulting, design and management. Our area of focus is in medical tourism, but we have experience with traditional vacation rental as well. We are known for creating spaces that are clean, cozy, and accommodating. Our community is one of the top tourist destinations in the state, but the reason that people come to Rochester is unique from many of the other more ‘traditional’ tourist areas. Medical tourism is a challenge to creativity in hosting because we get to provide the standard comfort amenities that people expect in a short term rental, while considering the unique needs of the medical traveler. I am so proud of the business that I have built because we get to set the standard of what the expectation of a short term rental in our community looks like. We get to work with the City of Rochester to make sure that our homes are enhancing the community, not taking it over. We are lifelong residents so getting to share the place that we love and live in is something that I take a lot of pride in.
We also provide consulting and design services for owners who are interested in short term rental but just don’t know where to start. Senator Paul Wellstone’s quote, “we all do better, when we all do better” is a mantra for our business and community involvement.
In terms of your work and the industry, what are some of the changes you are expecting to see over the next five to ten years?
Short Term Rental is still a fairly new industry so it’s changing rapidly each year. We all have read the headlines about Short Term Rentals ‘taking over communities’ and ‘wreaking havoc on the housing market’. While that perspective may be true in some markets, we are grateful to have the opportunity to work with our city instead of against it in order to make sure we are growing together, not apart.
Traditional vacation rentals are becoming more ubiquitous and competitive, while medical tourism is a still fairly untapped market. Those who are interested in longevity in the market should be considering adding medical markets to their portfolio. Additionally, those who are in more competitive vacation markets should evaluate if adding more medically minded amenities to their existing homes could increase occupancy. Guests with special needs are often overlooked in the hospitality industry, but adding considerations for those with special needs doesn’t exclude standard travelers from using your spaces, it simply adds inclusivity to your space while increasing your client base.
Contact Info:
- Website: https://www.nogohomesmn.com
- Instagram: https://www.instagram.com/nogohomesmn
- Facebook: https://www.facebook.com/NogoHomesMN
