STRSS 67 – From 2 to 10 Airbnb properties in 1 month by Cohosting w/ Peter Plourde

Video Transcript

 

00:00:00

Yeah. I don’t think any of us are special by any means. And I think you gotta listen to short term podcast, you know, every single day. I don’t think I missed a day of listening to your podcast or going on your Facebook page, but feed your mind with positives. And I was like, I really love your success story podcast. Cause I wanna hear that. I wanna know that I can do that. And I, I will say that anyone can do this. Anyone. I don’t care what your skillset is. I don’t care if you have no money, but you have to put work in we’re flooded. July is the best month we’ve ever had. We’ve completely rebounded and are making more money than we did pre COVID.

  

00:00:40

This is episode number six, seven of the short term rental success stories podcast. Are you an investor that’s looking to have your home professionally managed, go to cohost it.com for more information, welcome back to short term rental success stories. I’m your host, Julian Sage. This is a show where I talk to host about their journeys and starting and growing the short term rental business. My goal is that you’ll be able to walk away with practical information. That’ll help you become a better host and learn how to scale your business. Like any exceptional host. We all strive for five star reviews. So please going over to iTunes and let us know what you enjoy is it really helps support the show if you haven’t done so already going over to our Facebook group, the host nation to connect with the community, Hey, what is going on?

  

00:01:21

Host nation. I’m super excited to be backing in with you this week. So for those of you that have been following this show for a while now, you probably know that I really love the whole model of cohosting cohosting. For those of you that don’t know is a way of being able to manage other people’s properties. One of the concepts that we talk about frequently on the show is Rental arbitrage or master lease investing as well as cohosting and buy and hold investing together. We call this the RCB model of short term rental investing. What I love so much about how this show has really kind of progressed. Is that not just looking at these short rentals and management company as a way of being able to do a business, because as you follow this show, you’ll probably notice that there’s a lot of people that are able to make a full-time living by managing other people’s properties.

  

00:02:05

But to also look at this from an investor standpoint, when we talk about master lease investing, we are talking about being able to acquire a property without having to put a lot of money down and then being able to turn that into a profit. We also talk about being able to purchase properties and then after renting them out, short-term being able to make a profit, but you can also manage other people’s properties and make a profit and how you’re able to blend all these different models of using shortterm rentals. You can incorporate this with things like real estate, which is actually something that I’ve been using more frequently, such as being able to help investors acquire and purchase these short term rental Vacation Rental Rental properties, and then us being managers, being able to manage the properties for them. So there’s a lot of different ways that you can provide service by being a short Rental manager and using these different models of investing.

  

00:02:52

We’re not saying that there’s one model of investing better than the other there’s risk involved when you are purchasing a property and turning it into a short-term rental there’s risk involved when you are master leasing or doing Rental arbitrage. But one of the models that I love so much is cohosting because there really isn’t that much risk involved because you’re just really using your time to be able to help other people make money. And if you have the skillset and being able to analyze a property in a market and able to give them an accurate estimate on how much they’d be able to make, if they do decide to purchase our master lease of property, it’s a very useful skillset to have last week. I mentioned Vrolio and the tool that they’ve been creating, and I’m really excited for them because I believe that the future of short Rental investing is being able to look at these residential properties and being able to turn them into short rentals.

  

00:03:38

Vacation rentals have been around for a long time, but the residential short term rental is really a newer concept. The more urban short term rental manager is a very new breed, which is why cohosting and our company cohost is very unique. If you’re interested in short term rental investing, and you wanna keep up to date with properties that do become available that are residential or Vacation rentals, then go to Short Term Sage dot com slash investor to join our email list, or we’ll be sending a weekly email with properties that do become available. This is something that I’m really excited about and being able to work with Vrolio and joining their team, being able to help promote and look at a lot of properties that typically people would not consider as a short Rental actually being very profitable businesses today. I had the honor of speaking with Peter Floyd owner of Conway, property management.

  

00:04:26

Peter has two properties that he owns in eight properties that he co-hosts all in the white mountains of New Hampshire. Peter started his property management business and then one month scaled from two properties that he owned to. Now cohosting eight properties. So 10 properties total in this episode, Peter shares a story of how he first got into short term rental and how he’s been able to scale to managing other people’s properties and even growing his business during COVID 19. If you like my show notes for this episode, go to Short Term Sage dot com slash STR six seven. Or if you like my show notes sent directly to your inbox every week, then go to Short Term Sage dot com slash show notes with all that being said on this week’s conversation. Hey, welcome back, host nation to another episode of short term rental success stories. In this episode, I have these special, special honor of speaking with my good friend, Peter Floyd. Peter, would you please introduce yourself to the host nation and let them know who you are and what inspired you to get into short-term rentals?

  

00:05:18

Yeah, sure. Julian, my name is Peter. I’ve been in the hospitality business for seems like my whole career, 30 years in restaurants. And we’ve been coming up here where we live now in the white mountains of New Hampshire. And we decided a year ago to purchase our first Vacation Rental, honestly, to save some money on taxes at the time. And at when, when we were looking into it, I was listening to podcasts like yourself and a bunch of others trying to gain all the knowledge that I could. And for a while I was like, well, maybe we should buy one in Orlando. I did the whole air DNA thing. And then my wife is like, no, we’re not doing that. We’re gonna go someplace that we know that we’ve been going to for years cuz there’s we’re in a ski town. So we’ve been coming up here.

  

00:06:10

We brought our kids up here, you know, to ski and to go to Storyland there’s a little amusement park up here. So we finally, you know, she won, we settled up here and we bought our first property back in September of 2019. You know, then we bought a second one, but the first one really, you know, when you first buy a property, you’re so nervous. And you’re like, oh my God, what happens next? And you know, I just submerged myself into learning at that point, listen to YouTube videos, all the experts, you know, whether it was Rental arbitrage, all that stuff. I absorbed everything I could read that guy’s book that had on Daniel rest. I think his name is which really kind of changed my, my, you know, my whole perspective on, on how to operate on Airbnb. And then, you know, we launched it and it took off and did amazing.

  

00:07:07

So then we’re like, I want another, I wanna get another one. And I was lucky to have, you know, some fun stash away in the stock market. I pulled the money out for that. And then we ran a kind of long distance, two and a half hours, three hours away. My wife was running up here to do cleanings. We had no cleaners, I would go up and help. So then we found a couple great cleaners locally. And, and then over the next, I’d say six months decided we’re gonna move up here full time. And then the goal is to transition to full time property management up here, Vacation Rental management. So then we I’ve actually bought my before I even had anything, you know, decided upon, I just was like, I’m gonna buy north Conway, property management and hopefully I’ll need it someday. You know, hopefully I’ll be able to use it. And then right after that, I created an LLC in the same name without having any dollars coming in or anything. So I was like, I feel like this is gonna happen. And I had trust and faith in the process.

  

00:08:11

You know what what’s, what’s really, you know, inspiring about your, your story Peter is, is, is, you know, like I’ve seen, I, I saw you like right when you started, you reached out, you were very active in the Facebook group, the host nation and you know, so much so that I was like, know, I just wanted to jump on a call with you to just kind of thank you for being you, such a good member of the community and to see you be able to scale up. I remember when I first talked to you, you had that one property and you were just kind of getting it set up and ready to launch. And I was like, yeah, definitely wanna have you on the show once you kind of scaled up and here we are just a few months later and it’s like, man, I theater’s crushing it. So I, I wanna go back because you, you have some experience in the hospitality industry, but in restaurant ownership, did you feel that being a restaurant owner really kinda helped you or do you feel like anybody, you know, it was, it wasn’t really so much the, the hospitality background, but more because you were diving in and really consuming during that learning period.

  

00:09:10

Yeah. I mean, that’s a great, that’s a great question. I think, I think the hospitality side definitely helps, but I think what’s more important is, is getting learning and getting learning from people that have done it before you and not resting on any, you know, kind of knowledge background that you might have, cuz it, you know, we’re not serving guest food, you know, we’re not waiting on tables, we’re not turn, you know, all those skillset definitely help me as, as probably other people have skillsets that help them. But really what was more important was just learning as much as possible before, during and after your first property launch, you know? And then, you know, it’s funny, it’s so surreal to be on this call because yeah, I listen to every single episode of yours and then I’m now on, on, on listening to ’em again and everything that I’ve picked up, I would say is a benefit of listening to your podcast, whether it was Julie talking about how she pays people and then, you know, nevermind the last episode where she sold her business and that, that just blew my mind.

  

01:10:20

But there, you know, other, you know, way back what’s her name, I think it was Erica. She talked about your port app and that was a game changer for me early, you know, but here’s something really interesting. You talk about growth on June. I have have this notebook right here. I dunno on June. I wrote some goals down and my number one we use, we use a listing kind of keep track of your thoughts app. And number one was new client acquisition. Cause I, my daughter, Hannah built our website, Northway property management, and we built it to bring in clients not to get bookings. And I tied a little Google add to it. It talks about kind cleanings and that we live here and I was like, I have no idea. I wrote down here I properties. So by September I to properties, I had two.

  

01:11:24

And just, just to, just to clarify, this is June 7th of, of this year. So just like last month

  

01:11:30

Year, correct. And then my next six months or the end of the year, I wanted to get to eight properties and 10 was my stretch goal. And then, and then I worked the numbers backwards to figure out what kind of income that could generate. And it really, if I’m doing my math, correct, it’s a six figure income. So as we sit today, we are at 11, you know, nine clients that we’re gonna cohos property manage. And two that we own, my goal is to purchase one in the next, by, by the end of the year and then purchase another one and then potentially, you know, work retire from my primary job and undo this full-time cause I don’t wanna retire basically,

  

01:12:18

Peter, I thought, thought you said that you weren’t gonna share that.

  

01:12:21

I know, but whatever, like Julie, you know, Julie just talks.

  

01:12:26

Yeah. She just spills the beans. Just, I don’t know something about the show. People just confess, confess their, their inner secrets to us. But no, that, that is, that is really something. So June of just so just like beginning of this month, we’re we’re recording this June 29th, you said how many properties did you have? You had two, you had just the two that you owned, the

  

01:12:46

Two that we owned. Yeah. That was, they were doing. They’re doing extremely well. We’ve never had less than a five star review. I give all that credit to my wife, Julia, she’s insane with cleaning. And you know, we put a snack basket out, like most people that are good at this, do we, we write a handwritten note every single time. We now use Hostfully as a digital guidebook, which has been really good, you know, automatic door locks, all that kind of stuff is there, but real, you know, hundred percent response rate, obviously you can’t be a super host without all those check boxes getting checked off. So a hundred percent response rate, all the visits that you need and then five star reviews. We’ve never had less than a five star review.

  

01:13:27

So that, I mean that that’s, that’s some pretty exponential growth from two properties that you own to now managing 11 in, in a month. How, how is that even possible?

  

01:13:38

Well, the good news is like, they’re all kind of coming online, spread out a little bit. So like, so for, I’ll give you how it first started my website that I talked to you about all of a sudden I got an email. I remember this clearly it was I don’t day, June, holy crap. You know like here, here we go. You know, I didn’t think this was gonna happen cause you never know, you know, you don’t, I here’s the thing. And I hope listeners can understand this. Like I’m a real person. You know? I think sometimes when I listen to the show, you’re not quite sure, like, is, are they really real? Like this really happened to them. This is their story. And I really want everyone to understand, like this is true life. This is my story. And I’m not exaggerating anything I’m being transparent.

  

01:14:31

Cause I really want people to be successful. So her name, her name, I, I won’t use her real name, but her let’s call her Debbie. I ended up calling her right then and she filled out our form on our line. So I had her cell phone, her email, all that stuff. So she never listed her, her condo before I called her set up an appointment. Me and Julia went over condo. We had a little meeting. Her sons were there, who are both in college and they started rifling questions at us. Like how long doing this? And you know, I just kind like, not that I was vague, but I just kind answered the best we could kinda walked out. The meeting felt like we had her, like it was gonna happen. And I’m like, oh man, I wish we didn’t say that. Or I wish we didn’t say that.

  

01:15:14

And then she then emailed me back. We were trying to get 25% for our fee. She was kind of Bing at that. So we settled on a different fee, which still makes sense for me. And, and that was it. But here’s the funny story about her is that then she went silent on us. And in the meantime we got someone else that signed up and they were like instant, like signed our contract. We did what we did for her. And that’s a whole, that’s a different story, which is really kind of funny too, that I’ll I’ll share. But then this person, Debbie went silent, went silent. Then we, now we went to like five properties, five clients. I mean, and then all of a sudden I get a text from her out of the blue. Hey Pete, just wanna let you know, we haven’t forgotten.

  

01:16:01

Hope you haven’t forgotten about us. I’m refinancing my condo. And I wanna wait till that’s final before we go live. So it was like, all right, so we didn’t screw it up and she’s still with us. And but now we have 11, you know? So I wanna tell one more story. Cause I think it’s pretty interesting. So the second person or the first person that actually signed up, she just wanted, she called for cleaning and that’s, I feel like a lot of my calls, people want cleanings or they want, you know, they, they want us to bridge a gap or something. COVID when it hit up here, we, we had to shut down our rentals. And I think a lot of our, a lot of our owners that were getting their cleaning companies just dissolved. So they’re calling me for cleaning. So this lady called me for a cleaning.

  

01:16:47

It was a big condo. And I started talking and I gave her my little elevators pitch that I didn’t know I had. And she’s like, I really want professional pictures. She’s like, I have a guest coming in three days. I was like, well, I’ll stop by and I’ll get professional pictures. And if you choose us, they’re free. But if you don’t, it’s 200 bucks, it’s really a good value. And she’s like, okay, great. So my wife, myself, my daughter, Hannah, who works in our company and her boyfriend, Richard, who’s our photographer. We all go over to our condo and we walk in and the first thing we see is a hole in the ceiling and I’m like, oh gosh. So we go upstairs and it’s, it’s, it’s beyond words. There’s like a table with all the hot tub chemicals laid out. The fridge is full of food.

  

01:17:41

Like half eaten, just amazing amount of food in this fridge. Like it’s been lived in and they have a right now I know there’s a guest coming tomorrow. I started texting her pictures and I just said, look, we can’t take pictures today. I don’t know if you’re gonna pick us or not. I don’t care. I feel like an obligation to your guest. Can I clean out your fridge? She’s like, oh please, would you, four trash bags later were now scrubbing. The whole place in the bathroom is a bar of soap on a hand towel with a razor next to it. Oh. And was laid out for the gas. So I’m like, take a picture of that. Can I get rid of that? Can we just put some little soap and you know, shampoo and, and body wash out. She’s like, of course, can I get rid of it?

  

01:18:35

Can I put all your chemicals in a tub and put ’em in the garage? Of course it went on and on an hour and a half later. And then the next day actually I went back and weed whacked their little fire pit area because it was like overgrown and you know, up to your knees and weeds. And I’m like, can I just go and do that for you? Are you okay? She’s like, of course, this is unbelievable that you’re doing this for us. You know, I’ll pay you. And I’m like, don’t worry about it. I just feel when I walk into a, when I walk into a house, whether it’s mine or someone, else’s, I feel like I own it. And I wanna take that responsibility on right away, especially with you having a guest coming tomorrow. So anyway, long story short, she signed up and we, we actually shut the unit down after her gas for the rest of June. And we ended up, my wife actually ended up spending a decent amount of money to remodel it, get new linens in there. We put new door lock on, we put a smart, a smart things, hub in a ring doorbell, all that stuff that we include in, in what we do for free. If they sign up with us. So July 1st we launched her whole calendar’s booked and everything’s good now, but that was a wild first day. I’ll tell you.

  

01:19:50

Wow. You know, I, I think there there’s so much to really kind of digest in that for the people that are listening. It’s like, you know, this isn’t, that’s really kind of your that’s a quintessential of, of this, this type of business is like you’re, you’re taking something that is, you know, other people don’t really know how to do, like, was this, this person, were they trying to manage this remotely? Or did they have a property manager already in place that just didn’t know how to do it? Like, what was the situation with this property?

  

02:20:19

They’re they’re from they’re from about three hours away. They have another Airbnb, which they manage themselves on the ocean. It’s in Rhode Island. And what happened was their cleaner basically was like, this is too much. And I quit. So they really desperately needed a cleaner. So that’s what started it. And then once I told them what we do and how we do it, and I have like a nine, 10 page information packet that we’ll send out, which basically talks about owner responsibility, our responsibility, our 54 point cleaning, checklist, all, all that stuff in a packet. And then we talk through it with them. And then, you know, once she saw that she she’s like, this is, you know, I’ll talk to my brothers, cuz there’s like three people on the deed, but they were like all in at that point, you know, what’s I got another quick little story.

  

02:21:12

If you don’t mind go for it this, so the next call came in from this gentleman and he’s an attorney out of Boston, very, very like, you know, kind of person, you know, and he called me and he is like, I need a bridge. I need someone to bridge my gap. And I’m like, okay, what does that mean? And he goes, well, I’m going with this company and they’re a nationwide company. I don’t wanna say their name. And he was in the process of firing another nationwide company and what he wanted us to do because that other nationwide company already had built in cleaners, built in people on the ground. But they were not. I mean, they were like ready to these people. That’s how angry they were. And we had a long talk. I ended up saying, you know, I understand what you want, but I’ll tell you what we do.

  

02:22:10

And here’s why I think you should choose us over them. And by the end of the conversation, he was all in and we were gonna have another conference call basically the next day with his wife. Who’s very, they don’t want like, I’ll give you an example. They don’t want any kind of chemicals used on their, on their cleaning, on their laundry, whatever they want it all natural. And that’s what my wife uses anyway. So it was like, oh, so then that call led to me and my wife going over to their home, which is beautiful. It’s gonna kill it. And we’re in the process of bringing them on right now. But it was started off as I want you to just do this cuz I already have this and they’re cheap. And I figure I got nothing to lose. So, you know, maybe we’ll get fired next, but I don’t think so.

  

02:23:03

And then my last call was this guy, Bob. And he just wanted cleaning because literally his, he has a turn on July 3rd and their basically said I’m done and gave him no notice. He has 15 turns in the next two weeks that he needs done. So I get on the phone with him and I kind of tell him what we do. He gets all excited. He sends me the link to his property. Oh, by the way, he filled his property 330 days out of 365 last year. And when I looked at his link, I was like, I know your house because I don’t know if you do this, but I go in incognito mode and I Google my, you know, my town on Airbnb. And I see where my rankings are, cuz you always wanna be on the first page. Right. So I look at his, he’s always been number one, you know, he is like that thorn in your side, like this guy, that just, how does he do it?

  

02:24:01

You know, he has 130, you know, awesome reviews. He’s, he’s making a ton of money. He’s his a hundred percent response rate. And I was like, well Bob, why do you don’t even need me? You’re killing it. You know, you’re number one on the first page, every single time. And he is like, I don’t wanna do this anymore. He’s like, I I’m like, what software are you using? He goes, I don’t use a software. I just respond. And he owns his company and he’s three hours away. So it’s like, by the end of the conversation, he was all in. He signed the contract actually this morning, but we, we take, we’re taking, we took over the cleaning fees. He wants us to manage his hot tub, which I’ve never done. And I’m like, all right, ho here’s what I think it’s gonna cost. So that’s an added, you know, revenue stream for us as long as we don’t screw up the hot tub. But yeah.

  

02:24:47

Wow. That that’s, you know, Peter, Peter it’s. So one of the unique things that she said was you, you created this website, was this website specifically targeted for property managers or as a property management company in your area? Or was it advertised as a clean, like how, how are you getting all of these leads?

  

02:25:10

Yeah. So that’s, that’s it’s I’m, you know, the funny thing is that the site, remember when I said at the beginning, I didn’t know if it was gonna do anything. It’s generating probably a phone call every other day for the last two weeks of people wanting something. So I, I, my vision for it was, it is specific to our market. So I bought the URL north Conway, property management, north Conway is the main town up here. And I bought that URL and I actually named our company after it. So, but what I actually did was I, I, I put a little Google ad on it and literally I think I’m spending maybe 20 a month. And when you search for it, it shows up above like the Google ad would cuz no one else is putting a Google ad. Right. You know, no one else is advertising for that, that specific search. Right. So yeah. So all these people are finding us. We show up on the map, they see that we live here and they’re calling me mostly for cleaning. And then once they talk to me, they then become full clients.

  

02:26:17

But are you like advertising like specifically like, Hey, we’re a cleaning company or is it I’m a property management company and this is one of the services that we offer, which is cleaning.

  

02:26:27

Yeah. Mostly what, you know, the, the first thing that we’re a property management company. But if you, if you do look at it, it says like contact us page. I do have a cleaning only section. So I think that’s kind like triggering, cause they’re, they’re desperate for a cleaner. But the other thing that I really learned this month is that there’s not a lot of talent in this space, you know? So if you bring just some good skills, like one person was like, no one even called me back. You know? Like they, they, they here, I forgot about this person. So they, they, they were, so she sends me the link to her property and their actually only advertisement is Craig’s list. And they probably have six bookings and they they’ve normally rented out the winner to a long term tenant at a very, like, I think it was 1500 bucks a month. So once we started talking and what we do and she needed a cleaner again, they, they signed up like right away. We’re doing a deep there today. Actually my wife is because we have to get it ready.

  

02:27:36

Are, are you, are you like a website or like a, a ads guru? Or like what, what do you, what are you doing feeder?

  

02:27:45

That’s like the funniest thing I think I’ve heard in a while. So we built it on GoDaddy. You know, my, my daughter, Hannah built it, you know, she has her own virtual assistant business that she’s kind of building now and she kind of did it. I did it, we worked on it, tweaked it. I feel like we’re still tweaking it, but it literally anyone can do it. Honestly. What, I didn’t know when we did it was that it was gonna actually generate the leads that’s generating. You know, so now in my mind is like, I think almost we could do it anywhere in the country if I have the right person on the ground, cuz I have all the software system kind of built for communication, pricing, all that good stuff, channel management. So yeah, I honestly think if you get the right URL and the town that you’re local to, it’s gonna do the same thing for anyone out

  

02:28:35

There. Man. Peter talking with you just excites me more because it’s like, that’s, there’s so much potential in the space that I really, I want the people that are listening to this cuz you you’ve picked up on this probably from listening to all the podcasts and you know, you’re, you’re, you’re doing it yourself. Like when I created my first website, it was, it was super simple. It was just like very specific to the, the DC area. It was like, you know, you know, Airbnb Vacation, Rental, property management, I would use just keyword heavy. I didn’t even have any ads running and someone filled out a form and that was my first client. But it’s because there’s, there’s no, there’s not many people like how many people in, in your area are, are doing this.

  

02:29:13

Yeah. No one else shows up, you know, what else, when you put that search in the only people that show up are actually property managers that don’t do Vacation rentals. So I’m like the only one. And then there is, you know, I’m in a, I’m in a Vacation Rental market. I will say that like there’s, you know, you do an Airbnb search. There’s there’s 400 that show up, you know, we’re in a mountain town, we’re, we’re in a kind of a resort town, which is kudos to my wife. We’re picking it. So I will say that, but, but there’s the, the, the other major Rental Vacation Rental company is called something that no one will search for. You know? So I feel like it was a good name, cuz it does, it does fit up here, but unless, unless a client specifically searches for that, they don’t find them.

  

03:30:01

So they’re all finding me, you know? And then they’re, you know, I’m, I think there’s some of the bigger companies are, are I think they, they were built with good intentions and I think it was a great model, but now I think they’re really starting to struggle. Cause I think they grew too big and you know, it’s hard for them to kind of do what they do, especially through the COVID thing with cleaners, you know, getting furloughed, you know, we had to furlough our, our couple cleaners and luckily they’re coming back, but you know, when the governor shut us down as a state, but you know, he didn’t open us back up to June 5th. Right. But the good news is, you know, for short term rentals is that if you’re in a drivable location, you know, people aren’t flying to Disney right now. You know, they, they, they’re not, they’re not going for those big vacations. We’re flooded. July is the best month we’ve ever had. We have completely rebounded and are making more money than we did pre COVID.

  

03:31:03

Wow. That, that, that is crazy. So, you know, one of the things like there’s a lot of people that are proudly listening to this that are afraid of, you know, the market and where, where it’s at, you know, they say now’s not a good time or I’m gonna hold off, but you’re saying it’s, it’s the other way, you know, right now you’re actually increasing your business because there’s people that are desperate and you’re actually making more money now because of, of, of why, why like why, why right now is this doing so well for you?

  

03:31:33

Yeah, I think, I think the whole pandemic shook the industry up a little bit. You know, I think it, it, it, you know, those cleaning companies, if they, if they were running on, you know, on small margins, saw all their income go away, you know, or they’re sitting home on unemployment and it doesn’t make sense for them to go back to work yet. So I, I honestly did not know this was gonna be the ideal time, but I, I, and I don’t know. It’s hard to say without armchair quarterbacking it later, if this, if this does make, is this the reason or would’ve happened anyway, I don’t, I’m not sure. All I do know is, is that, you know, my biggest concern at the moment is am I, is it, can I, can I grow at this level? You know, like, so initially 10, by the end of the year, while I’m already past that. So, you know, my biggest concern now is like, all right, what do we need to do to get to 50? I think a hundreds in the ballpark too. And obviously we’re gonna go through some pain and suffering to get there, but I think now is the perfect opportunity for people to launch their own business.

  

03:32:47

Amen. Yeah. Right. You know, it’s, it’s, it’s it’s right now when things are shaken up, it’s like, you know, there was that there was so much growth. There was so much interest in the space. And you know, like when you came in into the space, like that was like coming towards the peak of like, when everybody was just getting very excited, but then, you know, all of a sudden, it just, it was just decimated, you know, people got scared. People were selling their properties. People were, you know, going to long-term rentals, but you know, it’s like, you, you, you see. And I feel like it it’s the people that were kind of like towards that tail end also like, like if, if you weathered the storm and you, you kind of saw through it, if you made it through those first, those, those months, which was definitely intimidating for a lot of people, it’s like now you’re kind of coming out the other end and you’re like, wow, this is like a new, a new plane and just a new market.

 

03:33:34

Like I can come in and I can be the first I can be the, you know, that top guy in the search. And now there’s actively people reaching out to you and trying to, to work with you because they don’t, they don’t wanna deal with it. It’s like all these people had these properties and they were just getting cancellations, dealing with cleaners that were dropping left and right. And here you are just kind of like the last man standing saying like, Hey, I’ll, I’ll help you out. Like, I’ll, I’ll go to your house and we’d whack your place for you because nobody else is gonna do it. Like it’s, it’s, it’s interesting. And even, even for us, like we’re, we’re growing cohost it and we’re in, we just picked up a couple properties in Pensacola during this time. And, but yeah, it’s, it’s a real thing like cleans and trying to grow that cleaning team is very challenging. Like we, in the past week, we’ve had to go through like two different people. Like it was a, it was a much larger company that had cleaners and, and just wasn’t that good. And then another person. So it, it’s definitely a struggle. So, so what are you doing to be able to ensure that all of your properties are taken care of with your cleaning teams are how are you not having the same issues with that? All of these other people are having.

  

03:34:38

Yeah. The first thing before I answer that, and I wanna say that I think this business, especially if you do it from a cohosting model, there’s no big upfront cost. You know, like I, I had, you know, in the middle of my life failed at a business cause I, I was a franchise. I put, I leveraged my house. We almost went bankrupt. You know, it was, you know, 250 grand. So you can start a cohosting model for gosh, really peanuts. So I don’t know if there’s any other business quite like it, you know, now that you can listen to the guys that are doing arbitrage and obviously that works, but then there’s upfront cost and, and you have to leverage a little bit here. Like if this, if this property that we just listed, I just listed one last night, it books, I make money.

  

03:35:32

It doesn’t book. I don’t lose money, you know? So it’s a great, it’s an unbelievable, I think one of a kind business at the moment. So to answer your question, it’s a pretty interesting answer that no one probably else will be able to give you. So in the white mountains, there’s actually huts up there. So like Mount Washington is the highest mountain on the east coast. It’s 6,200 feet. Well, there’s a hut below it called lake of the clouds. And these huts are, are serviced by, by young awesome people. And their task of managing this hut is to clean it, to cook for the guests, to clean up all the dishes, to sweep it, to do all that stuff, to make that experience awesome for the guests. While we were lucky enough to find two people that were a referral from my wife’s sister who knew them her whole life.

  

03:36:23

And they have been amazing. So through them, we have now tapped into that whole resource of people that do that. So how it works in, in the summertime is that they spend seven nights up there and then they hike off the mountain and then they spend seven night, seven days in town. So every other week they can help our business part-time, which is perfect, you know, well soon we’re gonna need full-timers, but, and then their off week gets filled by a different person. That’s, you know, cuz they’re not on the same weeks. So we basically started to build our cleaning company within our own company, through the hu system, which is really it’s been working out. Great. The other thing I is I stole from, from Julie is, is, is a team leader concept where I’m already started. I was gonna wait until I hit 10 or 11 units, but I decided to launch it now.

  

03:37:20

And it’s basically her philosophy of sharing a percentage of your earnings with someone who is a very skilled, qualified cleaner or turnover specialist is probably a better word for a cleaner that, you know, can write the handwritten note that can manage the properties. That’s really good at communication. So I’ve decided to give two different people on our team, that title and that, and those responsibilities and I’m training ’em now while we’re still somewhat small and then we’re gonna grow them each. So they’ll have like their own little section of houses and then we share in the profits or the revenues I

  

03:37:59

Should say. Yeah, that, that, that was a great episode. And for those of you that are listening to that and just like, what is this, go back and listen to Short Term Sage dot com slash STR three, that was with Julie George when she first came on the show and kind shared her model of how she grew her management company, which was pretty unique using this team lead. Definitely. It’s something that, that even we’re still today playing around with like, you know, as, as you grow, it’s like, how can you, you know, how can you have other people that are responsible so that it’s not just like, you know, a cleaner and more of a person that’s a, you know, vital member of the team because they a vital member of the team and they should be compensated as such, but how do you give them some more responsibility, make them feel like it’s more inclusive so that, you know, takes some of the workload off of you.

  

03:38:45

And that way you’re not just saying, Hey, you know, I’ve just got, you know, cleaners in the area. No, it’s like, I’ve got, I’ve got a property manager. They, they manage these properties. You know, I, I just help supervise them and make sure that they are, you know, and meanwhile they have the cleaning experience and they, you know, their attention to detail. So it’s a great, great model. Definitely. You know, excited to see you implementing that as well. I think you’re actually the first person that said on the show that you’re kind of use gonna be moving forward with that model. So, Hey, this is Julian and I wanted to be able to give you our newest book. Airbnb secrets revealed how to build a fortune on Airbnb without owning property. In this book, we talk about the concepts of Rental arbitrage investing as well as cohosting and how you can build a business, leveraging other people’s properties.

  

03:39:30

This book is perfect for the new short term rental investor. And it’s something that I wish that I had when I first started as it would’ve saved me a lot of trouble and helped me to understand how to be able to leverage the power of short term rental investing in your own real estate portfolio. If you’d like to get our newest book completely for free go to Short Term, Sage dot com slash free book. Now back to the show with growing, you know, really, really quickly, you know, that’s, that’s no easy feat. You know, you created the website, you had a form, they filled out the form. But then after that, like you said, there, there was people that were, were never hearing back from these other property managers. Can you, can I walk, walk a person that’s just going through this for the first time through that client acquisition funnel, that process from, you know, that first call to where you’re, you know, you have them furnished and you’re, you know, able to make a profit and get their, their listing online. What, what is that like? Is that something that came easy to you? Or how are you, what was the, the learning curve on that? Like,

  

04:40:33

Yeah, what’s funny is I just wrote that down today this morning, because a lot of, you know, my mistake and you, you had another podcast where the person was like, yeah, I wrote my prop property management manuals or whatever. She called them right away. Well, and she likes doing it well, I’m not that person. So a lot of what I do is in my head and I know that it needs to get outta my head. Hannah, my daughter is, you know, very important part of our company. She does all my online kind of stuff, Instagram, all that good stuff. And, and she also helps kinda with that organization of my mind. So this morning I wrote that down what you just said. So they come in and I have it. I’m gonna read, I’m gonna make sure I use my notes here. So yeah. Phone call or an email comes in.

  

04:41:27

And if I’m like able to talk to them right away, I’ll talk to them right away. Cause I think it’s important. You, you have ’em there, you, you know, so I’ll, if it’s just an email, I’ll email them back or Hannah will and say, you know, when’s a good time to call. Can I get your, if we have, if we have enough of their information, we will send them one of our packets out, which basically explains what we do, what we require from the owner and basically everything soups soup to nuts. So, so that way, when I get on the phone with them, they can have a good understanding of what that looks like. Then we meet ’em in, I try to meet ’em in person. Now I don’t meet everyone in person, but if I can, I do. I think it’s important that they understand that we have feet on the ground.

  

04:42:12

Now, if you’re building a business and you don’t have, you’re not in the town, that would’ve to be different, but not everyone cares about meeting me. We can do a video call like this. So after that, but we, we do wanna see the property regardless. So I wanna walk through their property. Then I send them a contract. I send them the contract just so they can look at it and mark it up, ask questions. And we do have, you know, one of my, one of my clients was a, an attorney and he actually helped me rewrite it. So I had an originally my attorney do it, but he was more of like a long term guy didn’t understand short term. And then this attorney basically helped create what we have now. So it’s interesting the allies you make through your owner clients, you know, and then if the, so let’s say they, that, that they say they, they want to come on board.

  

04:43:04

So then something else happens at that point. If they have an existing listing, I know a lot of companies and a lot of people will just shut that listing down and then create their own Airbnb account, tag it to themselves, or however they wanna do it. If they have an existing Airbnb and it’s successful, I let ’em keep it. And I just become, I obviously have to give them like my bank account and that kind of stuff for splitting the cost and the, not the cost, but the fees. And, and then I put ourselves as the primary host, I then, you know, and then I, then I make, you know, make sure what OTAs they’re on. They go on my website, cuz we do get direct bookings from there. Let’s see, I then, you know, integrate ’em with all the software cuz we use three different softwares at the moment. And then if they don’t have an Airbnb account, some owners don’t want to anything to do with it. So I just, I actually use my own account or I create a new account just for them.

  

04:44:04

And what about the, if they don’t have a property, like what, what’s the process that you’re doing because not every property is gonna be maybe profitable and maybe some of the people that are calling you, like I’ve, I’ve seen, you know, lot, lots of people call and it’s just like, I don’t really know if I’d want to even stay in a property like that. How are you, how are you analyzing these properties and making sure that, you know, the owner’s able to profit, you’re able to profit and that it, it makes sense as a working relationship.

  

04:44:30

Yeah. That’s I mean, I think honestly until that hasn’t really happened yet, although that first one, the story I told about walking in and having to clean the fridge and all that stuff in retrospect, well I think it could be a good income producing property cuz it sleeps a lot of people and it’s a nice setup and it’s in a good spot and we did delay them. I haven’t really walked into a property yet that I wouldn’t manage, but I know that’s gonna happen. You know? So for now, yeah, I guess if I walked in and, and it wasn’t where we needed to be, we would put something together that said, this is what you need to do. You know, whether it’s changing out furniture or putting the right decor in a lot of the owners that we’ve met with, they have painstakingly created their home to look a certain way to make you feel good.

  

04:45:23

And I think that’s an important part for our gas is to walk in and feel a certain way, you know, feel like I’m gonna be, you know, we we’re in a business of creating memories. That’s, that’s what we’re in the business for. And we want them to leave with, with them, with, with their memories and this amazing experience. And you know, we do capture their information on the first communication that we send after they book, cuz we want to, you know, and it’s tied to MailChimp for me and they’ll go on a, a mailing list and a newsletter. So yeah, I haven’t really had to turn anyone down yet, but you know, I know that’s gonna happen soon.

  

04:46:03

And what, what are you doing for making sure that the numbers work? Are, are you using any tools or how are you coming up with, with your numbers?

  

04:46:14

Like what am I charging them? Or oh,

  

04:46:16

Like, like what, how, how are you saying like, oh this, this property should be priced at this point. This is, you know, compared to everybody else.

  

04:46:23

Yeah, yeah, yeah. So I do, I do use price labs as my pricing tool for the nightly rate we did, I did try wheelhouse and I’m not saying that they’re not, they’re not good cuz I think they are. I just think at the time I was using them, I didn’t understand the market real well. I was right at the beginning and I was running my, my one property. Now I totally understand nightly rates. And what seasons, you know, is the peak and how much more we get on the weekends and all that on the, all that stuff. But price labs to me is a game changer because it, it, it completely manages orphan days. It, it, it allows you to do certain things, whether you’re building an aggressive approach or a non-aggressive approach, it, it gives you this on screen thing that shows how booked you are in this next seven days, next 30 days next 45 days.

  

04:47:17

And gives you kind of like a green, which is good or a non green color, which shows you, you have opportunities there. And I, I was doing all my pricing manually and thinking I was doing pretty good, but price labs has changed the game. So I let price labs kind of go with it. But then I do look at it every single day, I’ll pull up price labs and I’ll pull up every property and I’ll look at the prices and I’ll, I’ll make sure, like, I feel like it makes sense, but it’s been doing a really good job based on how many people we sleep in, in, in the season. We’re in the busiest season right now for us.

  

04:47:56

And what what’s, what’s your, what’s your slow season? Like, like,

  

04:47:59

Yeah, that’s a good question because COVID kind of hit and I was, I think we lost not only had two properties, then we probably lost 15 grand in bookings off those two. So supposedly may, June, may in April is called mud season up here, you come out of the winter, which is ski season. The fall is when we have foliage up here. So the you book almost completely on in the fall too. And then the winter you get a lot of weekends. We just had someone book for 30 days in one of our properties, January 22nd to February 18th. I do get a lot of requests for that on, on V R B O I don’t know if we have a slow season anymore. Cause it seemed like we’re pretty well booked before COVID hit. So

  

04:48:47

Yeah, that’s, that’s, that’s kinda one of the things that like, even we’re, you know, cuz we’re, we’re moving into a market like, like Florida and looking at like Arizona, because it’s, you know, for us in the DC area, you know, we have some pretty, you know, some pretty obvious peaks and peaks and valleys for our seasonality. But you know, to look at like another like ski area or a place where it, it actually profits during that winter months, you know, and we’re thinking like Arizona and Florida, just because it’s hot, but like to also think like, okay, well you can pick up some properties in, you know, a very ski destination that maybe also has that good attraction. Like you said during the fall, that way you’re kind of balancing your portfolio a little bit. I think that’s, that’s a really good strategy.

  

04:49:30

My wife has, we, you know, we got our real estate license up here and we don’t know anyone up here. So what we did was I, I actually placed like a lead, like an ad. Well basically I bought a zip code on Zillow and the first person that, so that, so what that does is if someone’s like looking for properties up here, her name as shows up as a premier agent, you know, I dunno if you know how that works, but so the first person to call it goes to your phone and the guy, it gets on the phone with her and he goes, and he goes, yeah, I’m looking to buy an investment property up there. I, you know, that’s, I don’t know if you know what that short term rental thing’s all about, but I wanna do that. And he keeps going on and on like what he is looking for. And she’s like, well, okay, let me just tell you what we do. And you know, we, we own this company it’s called north Conway, property management. And you know, we help people just like you try to find a business. That’s, you know, a property that can be successful. And you know, we have a date to meet with him soon where he is gonna property.

  

05:50:41

Love that that’s that is so exciting. So now you’re taking, you’re taking the real estate, you’re taking the property management and man, that, that that’s again, that’s the exciting aspect of this business is like people don’t, you know, you you’re in a Vacation destination. People are looking for properties as investments, but you know, a traditional real estate agent where they’re just maybe doing residential or maybe they’re not like a Vacation Rental specialist or a prop property manager that they might not know as much as someone like you, who’s running the numbers, doing the business. You can give them actual figures and you can say, Hey, like, Hey, like we can find you the perfect property. And this is exactly how much you’re gonna be able to make. That’s really exciting. One of the exciting things with that is that, you know, you can actually also be a resource to other agents in your area.

  

05:51:26

So like one of the things that we’re doing like in Pensacola is we’re actually going to, you know, I’m reaching out to other real estate companies brokerages and saying like, Hey, you know, we do this service, which is running the numbers for you and helping you analyze these properties, your, your agents, you know, that maybe they don’t know how to be able to, you know, run the numbers. So it’s like, you know, send your properties over to us and we’ll run the numbers for you for free. And you know, if they end up working with us or they end up, you know, referring us as a property manager, it’s, it’s, it’s a win-win for us. So it’s, it’s some creative, creative juice for you. But I did remember the thing that I, I wanted to ask and what, what are some of the struggles that you’ve, what’s the biggest struggle that you’ve seen along the way, you know, because you’ve, you’ve been really growing rapidly. What are some of the big things that you’re starting to see as you’re scaling?

  

05:52:16

Yeah, I mean, yeah, the first thing was, was what software I’m using. And I think, I honestly, wasn’t sure this was, was gonna happen, you know, and shame on me. I should have had more trust and faith after listening to so many podcasts that this can really happen here. But until it really happened for me, like came true. I didn’t have really a plan or a strategy. I, I don’t think completely to work backwards from where I thought were. And I still probably don’t. But the first thing that I thought that gonna break was was the software that I was using. And I ended up making a $2,800 mistake. So I kind of, you know, did probably what a lot of people do is I started Googling, you know, PMS and, and got on a video call, got a presentation. It looked really awesome. And then when I got into it, there started some things started to happen that were weren’t good.

  

05:53:15

They were double messaging my gas to, there was just some weird stuff. And then I couldn’t get great customer service, but I paid for the whole year and, and their policies was a no refund. So I actually bit the bullet. And now I think I do have a good plan for software, but I went on probably six informational video calls with different people that, you know, different, probably six different companies before I settled in on what this is. Hmm. So, So that’s number one, you know, cleaners will still be an issue for us, you know, at some point or, you know, one of the things we’re trying to wrap our head around is like how many units could a team leader manage? You know, what is the number? And I don’t know the answer to that yet. It might be five, it might be three, it might be 10, but at some point you can’t clean 10 units.

  

05:54:06

You know? So the team leader is getting not only a percentage of gross rent, they’re getting the full cleaning fee. So they could outsource, you know, we’re paying 20 bucks an hour for a cleaner figure, three hours. They, they, they get the one 50, they pay out 60, they’re still netting. 90 part of, part of that, part of that whole process too, is, is they have to supply their own cleaning supplies and they have to do the linens. So they have to figure out how they’re gonna do that. We don’t have a linen company at the moment. I think linens could be a problem. Trash can be a problem too, because right now we run into the transfer station. So a good visual, our transfer station, water bottles go in this bucket, water bottle caps. So P the glamorous property manager, short term rental owner taking in 90 bottles of caps off.

  

05:55:06

Oh my goodness.

  

05:55:06

That’s a real story that happens. So, yeah, but we’re gonna have to figure that out because, you know, once you get to whatever number property, at some point trash might break, you know, our cleaners don’t have PA they don’t, they’re not property owners. You need a, you need a property owner sticker to get through the transfer station, you know, so we’re gonna to figure that out. I don’t completely figure.

  

05:55:28

Right. But you’re figuring outs

  

05:55:34

Truck.

  

05:55:38

What, what would you do differently if you, if you had to start from scratch? I mean, I know, I know it wasn’t wasn’t too, too long ago, but like, you know, when, when you first started, what, what would it be?

  

05:55:48

Yeah, I would, I would plan to be big if that’s what you want. So whatever you want as, you know what I want, I’m not sure the, the final number yet, but I would probably start with, you know, I should have built a plan around 10 and, and understand what needs to happen at certain places. Now, I don’t know if you’re gonna figure it all out when you’re first starting. You know, I remember my first guest, I remember that first booking, like it was yesterday and you know, you, you have the ring set up, so you see them walk in and then you, you know, you don’t really know what’s going on. Cause we’re three hours away. As soon as checkout day came and he swept my outside front stairs, I was like, all right, this is gonna be good. And sure enough got a great review.

  

05:56:34

He left as a little card and, and that was fine. So, but, but at that point, you know, I think a lot of times you don’t know what you don’t know. So, you know, I would just kind of write a plan. Like if this happens, then what, you know, and if this other thing happens, then what, and what number do you want to get to? And what timeframe do you want to get there? And if you do that, I should have been researching software at the beginning. You know, I should have been doing my homework going on those things when I didn’t have the responsibility of growing, like I’m growing now, I should have done a lot of like, a lot of the stuff I do is in my brain, you know, like what do I do daily? At that point, it was like, you know, I still, I enter guest codes into my Sage locks. I don’t use the locks that are tied to Airbnb yet. I know they’re out there, but I just, I don’t, I haven’t done it yet. So I keep using the same exact lock. So that’s a manual, you know, system that we’re gonna have to eventually figure out. So yeah, I would just, I would just kind of plan for what you want your end game to be at the beginning.

  

05:57:37

And I mean, you’re, you’re, you’re an avid listener of the show you’ve been following, but so you’ve listened to, to quite the gamut of, of, of Def of definitely some real professionals, but what, what would you ask the next professional host about like where, from where you are right now or where, where you’re planning on going?

  

05:57:55

Yeah, I already, I had this answer in my head cause I thought about it. Cause I listened to your show every time and I knew you were gonna this question, but it’s really like what, you know, at 11 units, which we’re now, what, what does the game look like the next? And what if they could kind tell me like, alright, what’s gonna, what’s gonna need to change what can stay the same and what, you know, what you just have to tweak. I think that’s in my mind what I’m, I’m I’m wrestling with, you know?

  

05:58:25

And, and what, what is, I mean, you got a lot on your plate right now, but what is, what has short term renting allowed you to do? I mean, it gave you a lot more work, but is it, has it done anything else for you?

  

05:58:36

Well, I completely love it. You know? So when you love what you do, you don’t work. You know, I wake up, I think about it. I, you know, I go throughout my day, I think about it and I go to sleep, think, thinking about it. And I, you know, yesterday for example, I worked my, my job and I came home. I went over to a property cuz I wanted to get it listed last night. So me and the team leader met over there. We cleaned it, we set it, staged it for pictures. We took pictures, we installed the ring, we installed the lock. You know, we did everything we could. I got home. I, I, I built the listing on Airbnb cause it’s never been listed before. I connected it to all my software. And by 8 30, 8 45, I was still on my laptop in front of the TV, looking at it to make sure it was perfect.

  

05:59:24

And I woke up today, hold it up. First thing I did cause I wanted to make sure it looked right. Actually changed pictures. This morning changed the, the main picture. And you know, you might sit there and think, well that’s man, I don’t wanna do all that work. And I, and I’ll be honest, you know, you know, I don’t wanna build something that makes me 24 7, I’ve been 24 7, my whole life, my business that I was involved in we’ve I’ve never had weekends off. And I look at that honestly as a, not a negative, but a positive because I don’t wanna ski on the weekends cause it’s too busy. I don’t wanna go out to eat on the weekends cuz it’s too busy. So that’s not a negative to me, it’s a positive, but I don’t wanna build something that consumes me. I’m fine with being consumed with it now. Cause I love it. And I’m, I’m, I’m building a company, but at some point I wanna go ski. I wanna go hike in the mountains and not have cell service and not stress about a gas that has a leaky faucet or whatever. So I think the next iteration of what I do over the next probably six months is build this and work on how to build this, where they don’t need me. You know what I mean?

  

06:00:31

That’s awesome. You know, I, I just wanna say, you know, appreciate you so much, Peter. I think it’s, you know, it’s really exciting. And I think like what you said, you’re, you’re, you’re a real guy and everybody that’s been on the show is definitely real. It’s just some, some of the stories like when we listen to people like Julie or like Alvin or, you know, Jon, you, you, you hear these numbers and you’re just like, holy cow, like, is this like a real, I, I can’t imagine running a hundred properties. I can’t imagine, you know, scaling to 24 and 18 months. I can’t imagine these things. And those are some of the, the negative, false beliefs that a lot of us start to, to to think like, oh, that’s just somebody else. That’s not me. Yeah. But I mean, what, what would you have to say to that mindset, to that thinking, you know, because you’re, you’re, you’re right there. I mean, you just started and, and you know, you’ve been listening to the show, but now you’re seeing this success. What, what would you say to those, those thoughts or those feelings, if may, maybe someone is feeling like there’s a disconnect from, you know, what these people are able to achieve.

  

06:01:32

Yeah. I don’t think any of us are special by any means. And I think you gotta listen to short, you know, the short term podcast, you know, every single day. I don’t think I missed a day of listening to your podcast or going on your Facebook page. I haven’t been on Facebook in a while cause it’s been too much of a distraction, but feed your mind with positives. You know, I listened to this podcast called the one thing, I dunno if you ever listened to it before, but in, in that podcast, he talked to this guy who, who I think he lost a hundred million. It was some big astronomical number that he lost. Cause he, it was the land deal that went bad. But in there he talked about the positive that came out of that was that he learned that if he would’ve just done this one thing, he would’ve probably saved himself millions and he’s now come full circle and he is a millionaire again.

  

06:02:27

But his one thing was to spend the first 30 minutes of your day, having quiet time sitting down and kind of asking what you want your business to look like with a blank piece of paper and just write your thoughts down, no phone, no computer 30 to 45 minutes. And I started doing that and it seemed almost like that’s what that at that same moment is when my business exploded. I don’t know if it’s connection or not. So I would just tell people, wipe out your negative thoughts. Although that’s really hard. We all have them. I’m an old guy. I still have them, but feed your mind with the positives. You know, that’s why I remember me and you talked a long time ago and I was like, I really love your success story podcast. Cause I want hear that. I wanna know that I can do that.

  

06:03:15

And I, I will say that anyone can do this. Anyone, I don’t care what your skillset is. I don’t care if you have no money, if, but you have to put work in, you know, it’s not like you you’re gonna get rich quick. You have. And that’s, I think what stops a lot of people, you have to put the work in, what is the work? The work is listening to guys like you going on, you knowing as much information from you and John that, you know, if, and, and I’m willing on your education, don’t like, it’s, it just it’ll drop your timeframe. You know, it’ll drop your timeframe to success. If you invest a little bit in education, think about college, right? You know, you don’t have to spend thou you know, a hundred thousand dollars to go to, you know, to go to school. Like my daughter did, you can spend a very small fraction or do it for nothing, but get, get the knowledge you need to get. That’s what’s important.

  

06:04:15

Well, thank, thank you so much, Peter, for, for jumping on here, you know, I’m, I I’m, I’m super, super humbled that, you know, you, you kind of were a part of the community in the beginning and now to be able to see you grow and blossom, I just think, you know, I’m, I’m really eager for your success and we’ll definitely be reaching out to you when I’m, when I, you know, if, if I, you know, am planning on going to the area or just to even just have you back on the show in the future, because you know, right now it’s a very pivotal moment for you, you know, you’re, you’re at that crux where it’s like, you’re, you’re going from, you know, you know, just a couple properties to where now it’s like, you’re building a team and you have a management company and you’re taking on these clients. So really excited to see where you’re gonna grow from here.

  

06:04:55

Yeah. I, I really feel blessed to be a part of your community and to be on this show. It’s so surreal and I can’t thank you enough. I think everything that, that we’ve had for success, I can trace back to you and your podcast.

  

06:05:08

Oh, thank you so much, Peter. And until next time, host nation, keep on hosting. Hope you host benefited from the show. If you found value, please going over to iTunes, leave us a review and let us know what you enjoy about the show. If you like to talk to hosts that have been featured in these episodes, as well as the community, going over to our Facebook group, the host nation.