Ted Cruz's Dallaska flight joke and cold weather prep

SPEAKER_00 0:00

Welcome to Live Let Thrive, a podcast about the Airbnb life, the share economy, and everything in between. Here are your hosts, Micah and Steve.

SPEAKER_02 0:11

Hello, hello, hello.

SPEAKER_05 0:13

And welcome back to another exciting episode of Live Let Drive. What's up, Micah the Man?

SPEAKER_01 0:24

I'm chilling, Stevie Stacks. How you doing today?

SPEAKER_05 0:27

Doing good. Racing for the cold, icy weather coming our way in this um Dallas Dallas-Fort Worth area. And this is Live Let Thrive, your favorite short-term, mid-term, long-term pad split podcast in the world coming at you from Arlington and Fort Worth, Texas.

SPEAKER_01 0:47

Yes, sir. We got to get ready for Dallaska.

SPEAKER_02 0:52

They said Ted Cruz already booked his flight to Laguna Beach.

SPEAKER_05 0:56

You know, it's official when Ted's going to the beach, man. That was funny. But he he he threw his wife under the bus for that one, too. I remember that. That was funny. No, no. I made it even worse. It was her idea. I didn't want to go.

SPEAKER_01 1:11

Oh man. I ain't gonna lie, I ain't mad at him. Get out of here during February. Like, once we get close to February in Dallas, get up out of here.

SPEAKER_05 1:18

Man, see, that's when I look back and I'm like, I remember we had we had those homeschool aspirations, and so we can travel and all this stuff. And of course, yeah, we're plugged into the matrix, so we can't just hop on a plane with the kids and go somewhere warm. We have to we gotta stay.

SPEAKER_03 1:33

Yeah.

SPEAKER_05 1:33

Or they get that truency, truancy stuff going on.

SPEAKER_03 1:36

I know, man.

SPEAKER_05 1:39

So, man, we're gonna have a good show today. We're gonna talk uh a lot of fun short-term stuff, midterm stuff, pad split stuff. Um, what you been up to, man?

SPEAKER_01 1:51

Oh man, bro. So I actually needed you there. Uh so I sent you the invite to uh come to my meetup that we had, me and Mahogany had over Sunday, Monday on my MLK Day. And I needed you there because I wanted you to be on the panel to talk about pad split because like everybody was like,

Entrepreneurriage meetup recap and PadSplit panel questions

SPEAKER_01 2:08

after I told everybody what it was, they were like, six people in my house? Yeah, like it, but I was like I was trying to explain it to them. I'm like, you know, it seems like that. But yeah, uh, we had our me and mahogany had our um our our meetup, our first like public meetup for you know our podcast that we have, and I wanted you there as a panelist. Noble was there, Mike Brown was there. Um lot of good people there. Um where was it at? Um in Pantico at the uh Javen venue. Uh by the way, a cool venue. If you ever want to like have a wedding, any type of get together, cool gathering, super bowl party, cool little get-together spot. So we had it up there, and uh that's been it, man. That and then um you know, focus on the code.

SPEAKER_05 2:49

What's the name of your podcast?

SPEAKER_01 2:50

Oh, it's called Oh, Entrepreneuriage.

SPEAKER_05 2:53

Entrepreneuriage, okay.

SPEAKER_01 2:55

Yeah, the struggles of entrepreneurship and marriage and how you gel it all together. What's the I think the art our slogan term is building wealth without losing the marriage.

SPEAKER_05 3:06

Just wrap it all up with duct tape and super glue. You'd be all right.

SPEAKER_01 3:09

For real.

SPEAKER_02 3:09

That's basically how you how you figure it out.

SPEAKER_05 3:14

Man, that's cool, man.

SPEAKER_02 3:16

But what have you been up to, man?

SPEAKER_05 3:18

Oh man, uh, lots of pad split adventures.

SPEAKER_01 3:21

Oh, we gotta go into those. We we gotta go into those because a lot of people were like, eh, a lot of people are skeptical. Some people are like, hey, I'm interested

The $300 rent threshold and PadSplit's termination process

SPEAKER_01 3:29

in that, you know. Uh so yeah, we gotta go into the pad split adventures.

SPEAKER_05 3:32

It's a learning curve, like I said. I well, we'll say one thing. Okay, so uh I got a little worried this week, right? Oh, uh uh my Pad Split over here in the mid-cities. Um one okay, you get an alert when someone's behind on rent, right? And once they get past that $300 behind mark, they either have to bring it back under $300 or they get two days to pay it off, or they'll be kicked off the platform. So they yeah, Pasplit will just terminate them. And you know, Passport will reach out to these, you know, people and try to work something out. You know, they're not like the bad guys, but if they just kind of like ignore them and don't do nothing, then they all right, they're terminated. Now it's on us to get them out of our house. You know, that's pretty much that's pretty much it. So um, so I had uh a pad a pad person uh that just went to termination. Real cool dude. It's one of those, like one of those dudes you you know, you go to the house, he's like real friendly. Hey, what's up, bro? You know, that's good, you know. He just like like a social butterfly, right? Everybody, yeah, he had, huh?

SPEAKER_01 4:42

Cool dude, but he ain't got the rent money.

SPEAKER_05 4:47

Well, he paid, he paid great for a few months until until the other day. And um, but like, yeah, yeah, he had like great reviews, everybody loved him. He was one of those guys, just life of the party kind of guy, you know. And um, I can't, of course, say his name, but anyways, I thought he was a cool, I thought he was a cool guy. And I was like, man, him really him? I wouldn't have suspected him. Yeah, yeah. I'm gonna go talk to this guy, you know. Well, I reached out text message first, right? When it said he was terminated. I reached out text message and it bounced back. You know how when they bounced back, it says something like blocked or something like that. I was like, Oh, what's going on? I called, yeah, they're not accepting calls at this time, but you know, I was like, Oh man, what's going on? Yeah, so I went over there, man. And I have been looking at the cameras and I hadn't like seen the dude a lot. I saw him like once in like the last four days on the camera. So I was like, is this guy even leaving the room? What's going on here, man? He doesn't have a vehicle. So, anyways, um, which is normal in Pazfoot. But anyways, I went over there the next day. You know, I gave it a day, I sent a message through Pazfoot, hey man, you know, uh it says you're terminated and you're you're supposed to move out today, so let me know when I can send my cleaners by, all that spiel. And of course, didn't respond. So the next I said I give it a day. The next day I went over there. I was like, well, let me go talk to him, see what's going on. Or we have to do the eviction thing, we'll see. And so I went and and that's a cool thing. Pass but you just walk straight in the house because you get access to it all the time, all the commentary. I can go in and out as I please, you know. Not that I abuse it, but I just I can do that.

SPEAKER_03 6:19

Yeah, sure.

SPEAKER_05 6:20

And and I'll give a heads up too if I need to. But, anyways, so I walk straight in, go straight to his room, boom, boom, boom, boom. I hear him like shuffling around a little bit. It took him a few minutes to get to the door, and as he opens the door. Hey, bro, yeah, yeah. I just want to show you, man. I'm getting I got my got my stuff packed and and ready, and I'll be out, I'll be out this evening, man. And and I was like, I was like, alright, man, everything cool? He's like, Yeah, man, sorry, just uh I I I didn't see the messages and this and that. I'll I'll be out this evening. All right, man, I'll be back. All right, cool. And um, but I noticed when he opened the door, I was like,

The pungent body-odour smell no tenant left behind

SPEAKER_05 6:57

there was a smell in there. The only thing I it wasn't that it wasn't that although I've I've had smelled those smells before and throughout the permeating from the walls a little bit. Not like they were, you know, just just like when someone walks in the house and it's still on kind of that that smell, okay. And um the what I could equate this smell to is more like uh like a Badoce smell. I was getting back with those. But there was no chick there, so that made it even stranger. Anyways. Oh man, yeah. Yeah, yeah, youngsters look that up in the dictionary. That was the old movie from the scene house party, man.

SPEAKER_02 7:48

Shout out to the legend Bernie Mac, man. Oh man.

SPEAKER_05 7:57

Going way back, but anyways, so anyway, I didn't I hadn't I didn't go in the room, but I just like you know, smelled like yeah, in like that. But um, so I went the next day, you know. He actually did uh you know, he he left that night. I went the next day, and I went in that room and it's like whoo like that really punched pungent, pungent smell, like like uh I'll you know, I'll say the budos, but I'll say go ahead like a like a strong B-O, like a body odor smell, man. I was like, God dang. Was this dude just lost his job and just just sitting in his room and not going anywhere and just stinking the place up, man, and not showering. Might have fell into a depression, dang, bro. To a stink, yeah. And uh and so I man, it was rough, dude. I saw, I mean, I I I I cleaned with the products, I always keep cleaner products at the house, you know, so the pad mates can clean. So I swept, I cleaned, I um had like a bed sheet on there. I don't know what happened to I put you know the the the mattress protectors on all the mattress, of course, but it was gone. That's the second time I've I've turned the room over and the mattress protector's gone. I'm like, what the hell are they doing with these mattress protectors, man? Uh it's a weird deal. Uh but the mattress is fine. And I just uh I cleaned it, you know, did a quick cleaning. I was like, I opened the window in the back, just let it air out, right? Man, it was ooh, it was pungent. And um I was like, all right, I'm gonna come back the

Missing mattress protectors and the stench cleanup battle

SPEAKER_05 9:26

you know the following day, you know. I I was still, you know, my day job, Monday, Tuesday, Wednesday. So that was uh yesterday, Tuesday. And so I came back today. I was like, maybe it dissipated by then. He's been gone for a couple days. I opened the door, whoo, hit me again, man.

SPEAKER_04 9:40

I was like, ha ha ha ha.

SPEAKER_05 9:43

But I brought I brought cleaning products, you know, just in case that smell wasn't gone, you know, that stank was still there. And so I went and loaded up on the lavenders, the thing you open with the beads inside that's supposed to force. And I got um cleaning products, and oh, I noticed uh what I noticed because I don't like I said, man, I got all these properties. I'm not I'm not able to go all the time, but in the kitchen there's a trash can, of course, decent sized trash can, but with six people that trash gets filled up pretty quick. So what happens in in Hearst, Arlington they give you two bins, right? They give you a bin for trash, they give you a bin for recycling. Fort, they don't get they I mean Hearst, they just put it on the curb. That's what they say, just put it on the curb, the bags on the curb, like that, right? So the animals can tear them up and all that. It's it's not very smart. But, anyways, so they these the the pad mates before trash day, they'll just pile the trash bags in the kitchen on the floor, man. So I got this big old roll away bin so they can at least compile them there and then roll it out to the curb on trash day. So I got one of those, I got some more storage for them, uh, these shelves. And then, of course, I I cleaned the hell out of that room. I got that um Lysol. That stuff kicks butt, man. The Lysol disinfectant. Yeah, and I coated that room with that shit. I used almost a whole can of that stuff, man. Windows open, fans going, and it smelled when I left, it was smelling pretty okay. It was smelling pretty okay. I didn't smell the pedusa smell anymore. Not very and so so hopefully I left the window open a crack. I know it's not gonna get cold till tomorrow, but I'm gonna go over there and I'll and I'll close the window, but I left it open just a little crack just so it'll the room can breathe, man. Yeah, and so um, and if that don't work, because it's like I said, it's smelling pretty good. I scrubbed it, I cleaned, I put a new uh um mattress protector on there. If that don't work, I'm gonna bring my little ozone machine and just seal off that room and just hit that ozone machine.

SPEAKER_01 11:41

Tell you, if that don't work, for breeze like the uh bed, for breeze it, for breeze the bed, and I'll it it's gonna be a real strong smell, what I'm gonna give you. Man, but if you get them Febreze plugins and plug them in and just let them sit and close the door, it's gonna drown out the smell. They strong. It's gonna like a strong smell. Good. They so strong, I guess you used to have to unplug them, but it'll get rid of it. Yeah, for breeze plugins, bro. They'll I'll pick some of those up tomorrow. Yeah, yeah, just in case. Yeah, man, it'll get it out of there, bro. Yeah, that that's man. I ain't think of it. Yang this is a journey, man. This passport journey, just like our Airbnb journey we first got started. All types of learning lessons, bro.

SPEAKER_05 12:26

I guess when someone lives in that room, it can get pretty odorific quickly, you know what I'm

ICE storm prep: drip faucets, hose covers, and $140 in supplies

SPEAKER_05 12:33

saying? Whereas as a house, let's say someone's in your house squatting, it's more spread out. They can still think up a house pretty good, but it's more spread out. Whereas if one if a person's whole life is in that one room and it's concentrated in there, it's it really gets in them walls, man.

SPEAKER_01 12:47

Yeah, you gotta, yeah. It's ways to get rid of it. Yeah, them Fabrizio definitely check out those Fabrize fabric, the Fabriz fabric spray and then Fabrize plugins.

SPEAKER_05 12:56

For sure. Part of the journey. Part of the journey.

SPEAKER_01 12:58

Part of the journey, bro. Part of the journey. Yeah, so so you know we got the ice coming, man. So I've uh Oh shit, ice.

SPEAKER_05 13:06

Oh, you scared me, man. You got your papers. I got my papers, I'm good. They don't care, man. They rip you out of the house, throw you on the ground, then ask. And then ask late. Oh shit, my bad.

SPEAKER_03 13:21

So we got the enjoyment.

SPEAKER_05 13:24

Deport them anyways. I don't care. Deport them anyways. Send them to the sedan.

SPEAKER_01 13:30

We don't give a give a damn. Uh so you know, ice is coming. So I've been uh this week, I've been um so the last two weeks I've been interviewing property management companies for like long term because I was gonna manage my long terms myself, but I'm like, nah, I'm gonna just let them do it, and then if any issues come up, have them talk to my VA. So, you know, getting ready for this ice storm that's coming, because it's not only hitting here, it's hitting Arkansas where my places are. Um, are you having like your your pad split people? Do you send them messages like hey, drip the faucets and all that?

SPEAKER_05 13:59

Oh yeah, yeah. And I had my my maintenance guy um go out and hit up all the houses in the area that we're doing the with the that we own, arbitrage, the pad splits, everything. Man, that's a lot of houses. I thought, holy shit. So luckily he was able to find some of those covers, right? Because um they're like uh and they were I thought they weren't gouging us, it was about three dollars and ninety cents for each one, you know. So I spent 140 bucks on those covers, but still, it's better than a broken pipe, right?

SPEAKER_01 14:32

For real. You don't want that, man. Speaking of that, like because we were talking about uh pad split. So I I do have a question for you because I know you're learning everything, so you can outsource it, right? Have you figured out a way to like kind of automate those evictions or the eviction process?

SPEAKER_05 14:49

Man, I was thinking of that strong with this last one. I was like, man, you know, it didn't to me it I I okay, it's like going through stages. My first eviction terrified, this is crazy, blah blah blah. Second eviction, this sucks, but I kind of know what's going on. And then if this situation was gonna turn into that, I was gonna be I was I didn't, I was like, eh, if it happens, it happens. I just file and and you know get them out. You know, it might take a little bit, but I got five other streams of income coming out of that house, so it didn't it didn't hit as hard, you know. I'm saying where it's a house, you just got that one stream of income shut off, right? Until they're gone, you know, two, three, four, five, whatever how many months you're making zero, but at least I'm still making five incomes from that house, which is a good thing. And I'll say this, I'll say this. Um, well, we'll get back to the automation thing. I I guess the only way I could see see it being automated is if I like put uh like a like a de facto property manager in place.

Automating evictions: who knocks the door when you don't?

SPEAKER_05 15:49

You know what I'm saying? Because otherwise, because I'm gonna have to be the one that um that signs the paperwork and that goes to court if I have to go to court, you know what I'm saying? Unless unless it's a property manager or unless it's a it's a lawyer, which that's gonna that's gonna be costly to send a lawyer to go for you.

SPEAKER_01 16:09

Yeah, I meant like like how you had to go over there. Is there a way for you to remove yourself so they have to somebody like you have somebody go knock for you, put the eviction sign up and all that?

SPEAKER_05 16:20

Oh yeah, you can do that. You can have someone drop, you can have the um like those private security guys go or whatever. Okay. Uh or I could I could, you know, anybody, I could pay somebody to go, not even it doesn't have to be those private security, because those guys are gonna want, you know, a couple hundred to go out somewhere, right? So I could probably pay someone, you know, 25, 50 bucks, you know, maybe my maintenance guy or whatever, just have him film himself, either handing the paperwork to them or putting it on their door or whatever. Yeah, that part you can outsource. It's just the stuff that comes after that, you know. Since it's me rented to them, I have to go to to do the whole court thing if they're gonna be like a court date and stuff. Unless I get a lawyer, but their lawyers are expensive, you know. It's just that is it's one thing you maybe there is a way. Maybe I mean I'm sure there's a way, but like let's say like like people that have apartment complexes, the the property managers running the apartment complex, so it's the property manager that's gonna go to the um to the court date, right? Yeah, is not you know, they're not renting directly from the owner.

SPEAKER_01 17:21

Oh no, no, no. Hold on, say that again.

SPEAKER_05 17:23

So like apartment complex, they have the whole yeah, property management is handling everything. And you're paying them. You're still paying them, you know. And um uh so yeah, I thought about that. Oh, I would like going back to what I was saying, the one the one good thing, knock on wood, I'm gonna knock on wood, is that it seems yeah, it seems that it's been a lot easier to get the um the pad splitters out of the house without without evicting. It seems they go they're they're going without without putting up a fight. And and I I I equate this to this is kind of like their last straw. You know what I'm saying? A lot of them maybe have one eviction already or whatever. I have a guy in there that has that has one, and but he's a cool dude. I talked to him and you know, he he explained everything to me. And um, so they can't get an apartment, they can't get a house with the I mean, unless they you know falsify some stuff on a on a mom and pop, they they could probably do that. That happens all the time. But they can't get an apartment, even a ghetto apartment is not gonna want someone with an eviction. Um, so they're they're renting rooms. That's part that's pretty much the only thing they can they're left that they're able to do, you know. So if they burn that bridge, if they burn the pad split bridge, then they're really putting themselves in a tough spot. So if someone, if they get a notice to vacate from a pad split um host, they they've been leaving, man.

SPEAKER_01 18:53

So you ain't really got much to worry about, they ain't fighting nothing.

SPEAKER_05 18:56

Not so far. I mean, I'm saying I'm not saying it's never gonna happen, but so far it's been like, hey, you gotta go, and then I give them a few days and then they go.

SPEAKER_01 19:04

Yeah, that seems pretty cool though. That seems like it's working out for you. And then um another question, because I listened to the last podcast, your last uh solo app. You said you're buying 10 houses this year. Yes.

The 10-house goal: quarterly tracking and owner-finance hunting

SPEAKER_01 19:17

Woo! That's that's a good goal. You gotta go. You gotta go big, man. For real. Gotta go big. One thing I was actually gonna talk about goals, because one thing I've I've noticed this year that I've done differently, I set a yearly goal, but this year what I'm doing is I'm breaking them down into like quarterly. So, like let's say I'm like this year, I'm saying I want to buy one property, I'm like, okay, how do I set myself up quarterly to where I get to that goal? Because usually I just write down my yearly goals and then I check them off, like, oh, I hit it, I didn't hit it. Now I'm trying to like closely track them. So, like, how many, how many properties are you trying to buy this quarter? Or how are you tracking it? I'll say that. Cause this is new for me.

SPEAKER_05 19:57

That's a great question because yeah, I just that you know, I made that lofty goal. I said this year I'm gonna I'm gonna buy 10 houses. Um That's a because like like you they say you work backwards, right? You say, Well, how do I get to 10? Brandon Turner, work backwards. I gotta make a hundred uh a hundred phone calls uh a month or something like that, and that'll give me one house, and you know, that's a good that's a good way to look at it, because I need to do something like that. I've just been um just been reaching out to owner finance all the owner finance houses that I can see. I'm not doing Fort Worth. There's a ton of Fort Worth, but I'm not doing Fort Worth because it's just not it's not very um uh short-term rental friendly and it's not pad split friendly. So if and uh so that would make that would mean it's not corporate friendly for me because if I can't do short-term rental, I'm not gonna do corporate. You know, I'm not just gonna get a house 30 days plus, you know what I'm saying? Has Fort Worth passed anything or um so they yeah, it's it's banned in residential areas and how pretty much houses. You can't do short-term rentals in houses in Fort Worth. A lot of people do, but if you get cut, you're screwed, right? Uh yeah.

SPEAKER_01 21:06

Um I I feel you because uh so I I met with a client that I'm managing for, and it's that same situation. Like she's been really slow because we have to put she's in a HOA, she ain't supposed to short-term rent it. But we ended up taking it all. We've been managing it, I want to say about close to about a year. And like the good months are good, but at the same time, we have to put like seven-day minimums. We used to have like a 30-day minimum, but we went down to seven, but it's like it it I can't build up the reviews on it and stuff, and then we have certain limitations where we're not allowing pets, so it's like kind of like it's like yeah, it's kind of a struggle. So yeah, I know what you mean. Like, yeah, I've anybody listening, I sell them too, man. Kind of be careful going into like midterms and like you know, you don't have a short term rental backup plan because that that that's tough. That's tough.

SPEAKER_05 21:52

Yeah, yeah. You gotta I I I don't do it anymore. Um it's not worth it, man. And and even I you know, I had a Last client I took on, it was the same situation. It was a it was a big, beautiful pool house in in um Arlington, but you couldn't do short term. You could just do third. I was like, they're hitting me up. What have we got a booking? I was like, well, you have to wait for a corporate booking. You can't just you can't do you can't fill in the gaps at all. You're just stuck until you get a corporate booking, hopefully. Not that they're always coming.

SPEAKER_03 22:20

Yeah.

SPEAKER_05 22:21

And and the problem like with that house, because it was it was probably worth like five over 500,000. You know, it's a big house in Arlington with the pool. But insurance company ain't gonna put these people in regular cookie cutter 3-2s in a $500,000 house. It has to be similar to what their house is. You know what I'm saying? They're not gonna they're not gonna make let put you in a you know, you a little 3-2, 1500 square foot, put you in a mansion. You know, that's not gonna happen. It's gotta be similar to the size and the the the you know area and stuff like that to your house. So it wasn't it just wasn't getting the hits.

SPEAKER_01 22:59

Yeah, it it happens, bro. Oh, you know what? Um before I'm gonna touch on the goal thing and then I'm gonna actually go back to pad split. Uh I had a question about that. Um so like like you said, you were you haven't found out how to track it yet. And your your quarterly goals is one thing I'm I'm working on too. So I'm just like writing down what I want to do this quarter and then write down what I'd want to do next quarter that's gonna lead up to it. But yeah, I still haven't done that tracker thing. Like, okay, how many like okay, I need to finish my taxes, I need to have this done by this date. So I'm I'm learning all that stuff too, man. Cause it's it's it but like writing it down and having it in front of me because I have it right in front of me on my whiteboard, it does help. Like it makes you like okay, I need to do this,

Brandon Turner moves to Austin amid rental crash and overbuilding

SPEAKER_01 23:43

this, this this week. So I'm I'm trying to like really hone in on my goals.

SPEAKER_05 23:47

A funny thing about um Brandon Turner, you listen to his podcast lately?

SPEAKER_01 23:52

Oh yeah, I listened to it today. Yeah. He moved to Texas, right? He moved to Austin.

SPEAKER_05 23:58

Yeah, so you heard the story about that?

SPEAKER_01 24:00

Yeah, um Austin real estate sucks right now, basically. Um like they're losing values, like and it I don't quite understand why.

SPEAKER_05 24:12

Maybe you can go into the well they built he he claims they built too fast, too much too fast. And then and then the demand dropped. So these these beautiful brand new apartment complexes that were built up that were they you know getting um you know two thousand a month for these one bedrooms. Now they're getting like you know one thousand a month. I mean it just like plummeted what they could ask for for these things because there's they built too many.

SPEAKER_01 24:35

Yeah.

SPEAKER_05 24:36

And built yeah, I mean good times are good. That's when people are getting loans, that's what people are building, that's it, and then it just you know the music stops.

SPEAKER_01 24:44

Yeah, you know what? And and then the rest of the world, there's a housing shortage, so there's a whole bunch of demand. Uh Austin sound like you got a bunch of supply below demand. I guess if you had a good job, it'd be a great time to move there and rent. It sounds like because they said rents are plummeting, values are plummeting. I I wonder why they built like that. Like, what was their did y'all have an influx of people that were gonna that was gonna move there? And Austin, it ain't that big, you know what I mean? Like, it ain't big to a point you're like, oh man, a lot of people move. Well, if a lot of people move there anyway, it's just gonna be overcrowded. People gonna start moving out to Floogerville or Rock and Round Rock, but dang, I ain't know that I knew I knew he had moved down there. I didn't listen to his podcast. I remember he had he went like on like a six, eight week stretch of no podcast. And I was wondering what the hell, and then he said it.

SPEAKER_05 25:35

I was like, oh shit. Imagine that though, because like he because he runs these big funds, right? Yeah, these investor funds, and so they've been yeah, they've been getting hammered. Um, so what why he moved chose to Austin, you know, he has you know part uh multifamily in Austin, but he also has multifamily Houston and Dallas. Um, I don't know about Sinatome, but he kind of like chose Austin to be his home base so he can go. He said he don't know how he his presence is gonna help, but he's gonna just go be there with and see what's going on at these places to try to help any way he can. And that's cool of him. He could say, you know, hey, investing's risk, you know. Sorry, we lost money. Uh, you know, you're out of luck. But um, but no, he's like he's he's owning it. He's he's he moved from beautiful paradise, Maui, came down here to Austin and to try to handle it.

SPEAKER_01 26:26

I like him for that. I like him for that. That just shows he's a stand-up dude. You know, you gotta do what you gotta do, you know. And then that goes because I was um at the investor meetup, my boy Justin. Shout out to Justin. He was a he was he was talking about that, like he was talking about using OPM, and I was like, I haven't got into that. And I was like, I don't think I will like right now on my investing journey. I'll probably get into it at a later time, but like right now, I'm just I do single family, small multifamily. And I was like, I'm just not to the point where I use OPM. And I I might one day, but right now, probably not. But you know, I'm like, it's a risk, but if you know your numbers, you know, or you end up in a situation like Brandon, but Brandon has experience, you know what I'm saying?

SPEAKER_05 27:06

Yeah, so yeah, what makes me think of like you know, before all this happened, and he he would talk about on show how he he he never raised money before, but he talked to a guy who helped him mentor, oh, this is how you this is how we I do it, you know, blah blah blah. And he's like, just just make these goals of how much you're gonna raise. And he ended up raising, you know, hundreds of millions or whatever. He he raised a ton of money, right? He had to start his whole first fund filled up, he had to

OPM risk: fat wallets spend carelessly, your money counts dollars

SPEAKER_05 27:32

start a new fund, and he just made millions and millions of dollars he's raising. But what happens when I mean it's just human nature, right? When you're walking around with a fat wallet, you're not gonna be counting all the dollars you're spending, you're gonna just go be buying whatever you want. Oh, that's a good, that's a good price for a Rolex, I guess. I'm gonna buy that, you know. But but when it's your money and you're and you're the one trying to do this, you're gonna be counting every dollar because this is your money going in 100% into this project. You're not gonna just overs try to overspend for something, right? You got a buttload of other people's money and they're all wanting to invest in something, and you see something, you're like, ah, the numbers don't quite work, but you know, let's do it. Let's let's just let's just get something. So you're not as responsible with other people's money than your own.

SPEAKER_01 28:13

That's a fact, you know. That that is a fact. Because if you have an unlimited, not an unlimited supply, but a huge supply of it, you might get careless at times. It happens.

unknown 28:22

Yeah.

SPEAKER_01 28:24

But yeah, uh uh it it was interesting seeing that he moved down there though, and like you know, seeing with the real estate market. I'm I'm probably gonna go to Austin in a few weeks. Uh just because we usually me and Mahogany usually go down there. I ain't been in a while, but yeah, it it's it's definitely some different stuff going on down there.

SPEAKER_05 28:39

Yeah, let's go kick it with Brandon Turner.

SPEAKER_01 28:41

Hopefully. I uh I want my goal is to meet him this year at Limitless if it's gonna be in Dallas. I'm gonna I'm gonna try to meet him.

SPEAKER_05 28:47

Is it gonna be in Dallas?

SPEAKER_01 28:49

Uh if if Limitless is at Dallas, this year it's supposed to be. I think they're moving it to Arizona, but if they do have it in Dallas, I'm definitely gonna do it. Oh, this is what I did have a question for you about on Pad Split. So I know you get have you successfully got somebody from Furnish Finder to book your pad split?

SPEAKER_05 29:06

Yeah, a couple times, yeah.

SPEAKER_01 29:07

Okay, so this is my question about that guest that's on Furnish Finder. Because I know your typical pad split guy, usually

Furnished Finder to PadSplit: young professionals with better credit

SPEAKER_01 29:15

not high income, usually lower income, like you said, may have an eviction. Have you noticed that same trend from someone who's coming from Furnish Finder and then going to Pad Split?

SPEAKER_05 29:26

That that they're low income?

SPEAKER_01 29:28

Like low income or may have an eviction.

SPEAKER_05 29:30

Like no, no, no, no, no, no, no. They're they're you know, most people that come from the first furnish finder. I mean, I've I've left I've checked their credits before. They have better credit than me, man. It's I mean, a lot of them just young professionals in the medical field making a lot of money, and they only got one expense is their car, maybe a student loan, but but um they've been they've been like that's why I was kind of worried the first time I got one at my passport in Arlington. I was like, hmm, you know, this is isn't it's not like the demographic that I have in there now, but he worked, he he was a wonderful guest, you know. He just worked he just worked, did his thing, you know. He was doing the medical field, so he's working a lot, and he just had a place to sleep. And he even he was they they liked him, everybody was cool with him, and he let he even left a bunch of like you know, extra groceries and stuff that he had when he left, you know, because he's only doing a three-month stretch.

SPEAKER_03 30:22

Okay.

SPEAKER_05 30:22

And now I there's another one that that's staying at the the Hearst um passplit. And and he's he came from I don't he's not medical. He's what I forgot what his job is, but he's still there, he's gonna be there for for a long time, I guess. He's been there for months, right? He's he doesn't have one of those three-month travel nurse gigs, you know what I'm saying? Yeah, so he's he's more he's in there for the long run, I guess. But he's he's a he's a cool guy. He's he's all right.

SPEAKER_01 30:50

No, yeah, because I was wondering like how have they meshed with the other pad splitters? There ain't been no issues. Because it's a different demographic, you know what I'm saying? You have like the the traveling, the traveling professional demographic to like you know, buddy who may smoke a little weed and ain't got his rent money, you know what I mean? You know what I mean?

SPEAKER_05 31:10

Like I see what you're saying. It's been it's been alright so far, man. I from what I've seen, and I say I go to my passports and I hardly ever see anybody hanging out in the common areas, hardly ever, man. Uh, I might see someone when they just go out of the room to use the bathroom and just, oh, hey, what's up, dude? That's it. But most people just hang out in their rooms or they're just working all the time.

SPEAKER_01 31:36

Okay, okay. I was wondering because that that that's I was wondering, because like that's one thing I was telling the crowd. I'm like, it is like I said, because I said my partner Steve, he always talks about it. You gotta get the right mesh of people, because you know, you may get a Karen, you may get somebody who's just disruptive, you know. So and it's luckily you've only had to deal with it twice out of all the guests, so it's that's a pretty good, you know, that's a pretty good sign.

SPEAKER_05 31:58

Yeah, I've kicked out two, and then this last one, it was just like they got terminated due to non-payment.

SPEAKER_01 32:03

So okay. But so they paid they pay their rent through Pad Split, right?

SPEAKER_05 32:08

Yeah, everything's through Pad Split. So PadSplit says starts sending me alert when they get behind. And they well, the PadSplit will say, Well, you don't have to do anything, we're handling it, blah, blah, blah. But you know, if they don't pay it in this two days, then we have to terminate them.

SPEAKER_01 32:22

No, no, no, it's another question about Brandon Turner's episode, though. Did you listen to his last one? Yeah, I did. Yeah, okay. When they were see, uh have you noticed there are people who are trying to do Pad Split without Pad Split?

SPEAKER_05 32:35

You know, I follow a guy, I follow a guy that does that. Um yeah, I'll pull up the podcast here in a second. But um he he just does it purely 100% on his own. Well, he built out his own company, he's like a miniature pad split, you know what I'm saying? So he'll and he he brings in investors to he sets them up with their own co-living house. He calls it, of course, he calls it co-living, he don't call it Pad Split. Um But he he does he makes the he makes all the same contracts that Pad Split kind of makes, where the people in the house are part of an LLC and all that stuff. He does everything like Patsplit does, but he keeps more of the money because he's doing it himself.

SPEAKER_01 33:14

That's what I was wondering. Um Pad Split ain't hitting you over the head for fees, right?

SPEAKER_05 33:24

They take a chunk. What is it? I think they take it's like kind of like Airbnb, they take some from them and take some from us, you know. So it's a it's a little bit of a a little bit of a hit. But you know what's cool about it, when you're whenever you're setting your prices, let's say you're setting your price to 175 a week, right? It'll it'll say it'll say, you know, Pad Split's gonna charge them 185. When you drop it down to 170, it says PadSplit will charge it 170. It kind of shows you, you know what I'm saying, what the price is gonna be, yeah, for for you what you're gonna get from it and what they're gonna get from it, you know what I'm saying? So Pasplit will keep the difference. Um, so I say that. I mean, you can make as much as you can just raise it higher if you want, but then you're gonna be pushing, you know, pushing people out if you raise it too high. Um, it's still it pays out good. It pays out good, and I don't gotta build out the passplit myself and do all that stuff myself.

SPEAKER_01 34:24

So I like that. That's what I told people. That's what I told people too. I'm like, you have to kind of look at it like this. You can build it out yourself, or you can let Pas split kind of handle everything. They just send you a message, say this guy got to go, or you can handle that, or hire a VA to handle it, whatever. But yeah, it you still gotta build it out even to get a VA. So I was wondering that too, because I noticed a lot of people are doing it.

SPEAKER_05 34:44

And they're approving, man, because I it's it reminds me kind of like the early days of Airbnb when Airbnb was doing a bunch of stuff you thought was crazy, and or always always siding with the guest, or you know, whatever it was. Um and so it's kind of like it's kind of like in that stage, they're growing really fast, but they're just um they're getting their legs under them.

SPEAKER_01 35:07

Yeah. And we'll see what that brings, you know what I mean? Things are gonna change, you know. Uh, because I think with pad split, I think

Florida cities fight PadSplit's LLC co-living structure

SPEAKER_01 35:14

I think pad split's gonna grow into a market where there are just more traveling professionals on there, just with how the housing market is right now. You're gonna get young, a lot of young traveling professionals on it, in my opinion.

SPEAKER_05 35:26

And you and you and you brought up Brandon Turner's pad split. He said in Florida, the city's fighting him. You heard he he said that in the last episode because they're saying you can't um five or more unrelated people can't live under the same roof or something like that, right? But he's saying no, they're not individuals, they're part of an LLC. It's it's one group that we're into. You know, it's the same the same concept that Pad Split throws out. I guess he's using Pad Split, but I don't know. But he's so he's fighting the city right now to be able to keep doing Pad Split.

SPEAKER_01 35:56

See, and that goes right back into what you just said. The Airbn early days of Airbnb, city gotta figure it out. You know, are we going to allow this? You know, and you know, but the most of these cities, if they want to stop pad splits, they're just gonna have to allow ADUs, bro. Like, end of the day, you need more housing. They're gonna have to have ADUs. I mean, Arkansas passed ADUs, which I was shocked by. I'm like, y'all ain't even got a growing population, but well, northwest Arkansas does, but central Arkansas don't. But you know, that's just what it's gonna come down to. Or else, I mean, pad split just seems to make more sense right now.

SPEAKER_05 36:28

Did you know that the the toothbrush was invented in Arkansas? No, I did not. Yeah, because if it was invented anywhere else in the country, they would have called it a teeth.

SPEAKER_02 36:41

That was Alabama. I just heard that one today. You just made me think of that one today. Charles Barkley. He said, Yeah, yeah, that's where they invented the teeth brush, the toothbrush, because everybody got one toothbrush. That's why they don't call it the teeth brush. Oh man, yeah, that was Charles Barkley.

SPEAKER_01 37:04

Man, but yeah, uh, but yeah, man, that that's I'm like wondering, like, okay, other people are doing it, but I think Pad Split's just and I'm I'm gonna it's gonna be interesting to watch Pad Flick go through that fight because they're gonna have to go through that fight just like Airbnb did, you know.

SPEAKER_05 37:17

I wish you would start one, man. I really do. Just because like it'll go full circle from when you got me on the show, uh got me to get airb when we started the show. I didn't have one, you did, and you you you convinced me to just turn my my second house into Airbnb. And I went ahead and okay, I'm gonna do it, I'm gonna do it. We talk about it on the show, I'm gonna do it. So it'd be it'd be cool if you ended up getting one and then we, you know, something to talk about on the show.

SPEAKER_01 37:41

It would have to be here. If I get something here, if I pick up something here, I I definitely try it out. Because I said I wouldn't do it where I'm at, but I would definitely do it in Texas, like DFW, all day. Like I would I'm gonna be honest with you. If I was to like really, really do one, because I think what you could do, if you went north, I think you could get a different clientele. Like if you got a house like up in Allen, Plano, Frisco, where it's extremely expensive, but you have a the whole tech industry up there, that'd be a hit.

SPEAKER_05 38:15

Stay away from the HOA.

SPEAKER_01 38:17

Yeah, yeah, don't do it in the HOA. But if you do it like where those like where these companies are adjacent to those cities, yeah. Yeah, no, I would do it in those cities. Okay, because that's where those people are coming into and live. Like, just don't, you know, I'm saying not everywhere got an HOA up there, but like if you could find like a nice little 3-2 and then you turn it into like a 6-2. I mean, I would check parking because you know, you might get some more complaining neighbors up there, a little bit more complaining.

B-minus to C-plus sweet spot: work trucks beat manicured lawns

SPEAKER_01 38:43

But yeah, bro, I would I would check it out up there too, because I think you're gonna get more of a professional crowd, and they might be willing to pay $900 a room. You know what I mean? Because I noticed that's what Brandon said when he targets it. He's looking at like, okay, if the rent for a one bedroom, one bath $1,800, people will pay $1,800, $800,000 a month, and I ain't gotta pay utilities. That's a win-win. You know what I mean? Yeah, yeah.

SPEAKER_05 39:08

So I was no, it makes sense all around. It's just getting the cities on board.

SPEAKER_01 39:12

Yeah.

SPEAKER_05 39:13

Um, but you know, I mean, I'll I will say this, my my Arlington Pad split. It my that house is the best looking house on the block, right? I mean, I I mean I keep it, I keep it nice, I keep the yard perfect and the bushes perfect, and I mean everything, it just looks like a really nice house. Now, if you're and and that's what I heard on these shows, if you're gonna do this, you know, don't run like a trap house looking house, right? Don't don't run the ugliest house and just you know be a uh a slumlord, because then you're gonna draw attention. Now, if you're the nicest house on the block and everything's smooth and you and you got decent parking for them, then you know, you're not drawing attention. You're not getting complaints.

SPEAKER_01 39:57

You you you know what else bring me kind of like in that like not getting complaints? I was thinking too though, this is the flip side of like your your guests that are higher paying, higher credit scores, do they have cars?

SPEAKER_05 40:10

Uh on pad split?

SPEAKER_01 40:13

Well, the ones from furnish finder to pad split.

SPEAKER_05 40:15

Okay, the furniture finder to pad split. Um you know, there was a I I have two examples, just only two examples. So the one is uh the older dude that lives, the one here in Hurst, and he um he has a car and he has a good job. He had great credit. Yeah, um, older white older white dude. And um the other one was like a young man, I don't know what he was, but he was young minority guy, and um he had uh like one of those travel nurse gigs, right? And I don't I don't believe he had a car. I think he just makes sense, but he is he's just like you know, he's just traveling town to town and the Ubers and all that stuff. This young generation, man, they're all about Uber and Lyft, man. So so yeah, I think he's uh yeah, it's just two examples, so I can't really say, you know, and he had he had good credit and all the credentials and stuff.

SPEAKER_01 41:07

I was wondering, because if you start getting like better tenants who have cars, maybe maybe that's kind of why you're flying under the radar, you don't have a bunch of cars out there. Because maybe that's what flags it. And I think that's probably in Florida, he probably getting a different clientele. Because I think this clientele works, like I would say feed the clientele that works. Like if you're finding out, hey, they ain't got cars, but they paying, I'd stick to it. But I was wondering, go ahead.

SPEAKER_05 41:32

Here's what I think with if we we keep it real on the show. Brandon Turner's talking about, you know, being in nicer neighborhoods, right?

SPEAKER_01 41:41

Yeah.

SPEAKER_05 41:42

Who lives in nicer neighborhoods? And what kind of and what kind of people rent from Padsplits. So Demographic.

SPEAKER_01 41:50

You know what I'm saying? Yeah, yeah.

SPEAKER_05 41:51

They're gonna call the cops and they see some brothers out there smoking a black, black and mild, and they're gonna they're not gonna like that.

SPEAKER_01 41:59

Yeah, they ain't gonna like it. You're right. That's exactly what's gonna happen. I mean it and even at that, like I think if you keep a like, even if you do have well, yeah.

SPEAKER_05 42:11

Yeah, because if you if you start having people outside that does, you know, people start peeking through them blinds, boy, that's when and maybe they can't call the cops just because someone's out there having a smoke, but they can who's staying at that and investigate, and you know, you can go to the internet and find out real quickly, oh, that's a pass that's a code, that's not allowed in the city. Let's call the blah blah blah. You know, that's just you know, there you go.

SPEAKER_01 42:33

They're gonna get on that next door app, boy.

SPEAKER_02 42:36

What's going on at 1604? Yeah, you like, ah, there it goes.

SPEAKER_01 42:41

Who put rims on a car like that? Yeah, but but that's the thing I was saying. If these people ain't got cars, I think it would drive less attention because I think that's where the attention comes. Like, if you see four cars at a park in the driveway, you're like, hmm, what's going on over there? And then, like, maybe one parking on the street, you know, maybe you can like people like, okay, what's going on at this house? But I think you you you flying low-key. That's how I would probably keep it too.

SPEAKER_05 43:07

And that's even that that one guy was telling you with the podcast, speaking of cars. That that's one of his things. He's like one of his students, you know, his students say, Oh, I think I found a good place for a passport, this and that. And he's like showing, he's all right, send me the address. And they're looking at the Google maps and all that stuff. He's like, Okay, this neighborhood, uh, it's a little bit higher end. There's nobody parking in the street at all. You know what I'm saying? He goes, he just goes and does the little little walking man, checking out the neighborhood. He goes, There's no street parking, the yards are immaculate. Man, this ain't this ain't gonna be a good one for you, bro. He goes, he showed he showed him a different one. He's like, Look, look at these. There's work trucks in the front of the uh in front of these houses, these work trucks in front of the houses. There's a lot of people parking in the street already. He goes, This is this is what you this is where you're looking. This is gonna be a good passport area.

SPEAKER_01 43:55

So passport, you're talking in B minus C plus.

SPEAKER_05 43:58

Yeah, yeah.

SPEAKER_01 44:00

That makes sense.

SPEAKER_05 44:01

Working class neighborhoods where they're not going to call the cops.

SPEAKER_01 44:04

Yeah, yeah. Yeah. No, no, I think we'll see how it is, because I think Pad Split will get big. It ain't hit that I don't know if it'll hit Airbnb, but I think it's gonna get big enough to where, you know, city council might get a hold of it. You know, it's just like when we first started Airbnb, it was in its infancy. Infancy. Like we were probably one of the only few podcasts on it, and then uh you top that off with cities didn't know how to regulate it. So yeah, we'll we'll see. I think it's a good model, especially here in the DFW for sure.

SPEAKER_05 44:35

Yeah, because I mean your argument is in in high populated areas it's gonna be a hit. Yeah, but you that's why you're gonna say Arkansas wouldn't be a good spot, you don't think.

SPEAKER_01 44:45

Uh-uh. DFW's yeah, too many people moving here, man. Like it ain't nobody moving there. Here, like unless you do it in northwest Arkansas, it would work. I think there people are moving to. Here, like people are moving here as well. I think it will work here perfectly. But like central Arkansas is a no-go. You know, no, I don't even think you would lie, you could probably charge $500 per room and be making some significant cash flow down there. Because if you had a six-bedroom, $500, your mortgage is probably on one of my three percent on my one of my like three percent interest rate houses, mortgage is probably like 900. So if you had a six-bedroom, yeah, you'd be you'd make a good kill in doing it. And plus I don't even you know what? I'll I'll tell you what. I'm gonna start monitoring Furnish Finder for Arkansas and see how many hits we're getting. Matter of fact, I'm gonna put that on my to-do list. Like if I I'll monitor it and then I'll start considering it.

SPEAKER_05 45:50

Now, now I did, you know, the same dude, like I said, he's he he does it his own way. He don't do the path split, but he does it his own way, co-living. He mentioned like when there is a new town, like one of his students brings up this, how about this town, how about this town, you know, and there's not a lot of information on it, they do like a trial run and see how many they start advertising rooms to rent and seeing how many hits they get. You know what I'm saying? To see if there is a need for it.

SPEAKER_01 46:18

Okay.

SPEAKER_05 46:19

See, and that's why I was asking about I guess you would make you would make uh what's it called how

Trial-run advertising: staging fake listings to test demand

SPEAKER_05 46:24

would you how would you do that? Make like uh uh uh Facebook marketplace ads about rooms to rent and stuff like or Zillow rooms to rent. I don't know, you could do it a certain way, right?

SPEAKER_01 46:34

I I would do it like on Airbnb and Furnish Finder.

SPEAKER_05 46:37

But you have to have an actual house to do it. I don't know how they're doing it without a house yet, you know what I'm saying?

SPEAKER_01 46:44

You could create have Chat GPT stage something real quick. Give them some photos and have them stage it. And then after you stage it, just post it and be like, hey, you know, just post it and just see what kind of hits you get. Turn no turn off instant book and just see what kind of hits you get. Um I'm I'm I'm gonna check Furniture Finder Room Rentals in Central Arkansas tomorrow and just kind of see, okay. I think we're see because we're getting hits right now, but they don't want the full house, so it might have a market. But I just don't know. I'm I'm gonna check it out. I'm gonna look into it and I'll let you know. That might be my saving grace instead of going long term. But the thing is, I need to know how I'm gonna evict if anything goes wrong down there. Who do I have to go over there? I I Yeah, I guess I could send my team over there. They just put some on the door, take a picture, and we evict them. Now, this is another thing though. If you start evicting people per room, won't that draw attention to it?

SPEAKER_05 47:48

I don't see how it's going on inside the house. It's not really No no no.

SPEAKER_01 47:53

But if you're evicting somebody, that's gotta go down to the courts, right?

SPEAKER_05 47:58

Won't that kind of like flag like I guess you know, I used to worry about that crap with Airbnb, but it seems like it's the city's so disconnected. Like you call you call a cop out to an Airbnb in Dallas, even though you're not supposed to be doing Airbnb in Dallas or whatever, they don't ask they don't start asking where's your permit? They just they just what's the problem? This and that. Oh sorry, we can't help you. It's a civil matter.

SPEAKER_01 48:20

No, no, no. I meant like so if you're if you go through the eviction process, you have eviction filings downtown, right? So that there's like all that stuff's tracked. Meaning if you they start seeing like an influx of let's say evictions. Yeah, like let's say 1300 Main Street then done three evictions in the last six months. What the hell's going on at 1300 Main Street? See what I'm saying?

SPEAKER_05 48:50

I see what you're saying.

SPEAKER_01 48:51

That's what I was wondering. So, like if you like luckily it seems like Pad Split's handling it before it gets there. And like you said, this may be their last resort. So you ain't necessarily gotta go through downtown to evict them. But I wonder, like, if somebody is like going through const or like somebody who's doing it on their own and not using Pad Split, what if they got evicted? So that's what I was wondering. Cause that like that stuff's kept. Like, why you get how you get X amount of evictions?

SPEAKER_05 49:22

Now, if these Pad Split, you know, people pad split squatters, whatever you want to call them, if they're if they're uh anything like regular um people that are taking advantage of of landlords, if they're if they're anything like that, then they probably ain't even gonna show up to court. I'm just saying.

SPEAKER_01 49:41

But if But it's still filed downtown though.

SPEAKER_05 49:44

No, you still file it. But if they don't show up, the judge just reads off the thing, okay, they're not here, boom, you know, we rule in favor of the defendant of the defendant or the the landlord, whatever the hell. So I'm just saying, yeah, I see what you're saying. But I mean, they get like a hundred cases a day. They're not they're not gonna remember, oh, wait a minute, I remember that house, you know. And it might not even be the same judge, you know.

SPEAKER_01 50:06

I'm saying I don't I don't see I mean, but that's how Airbnb got its its information downtown. They just start collecting data, not eviction data, but just data in general. I was just wondering because but it seems like Pas Split, you're not even having to do that. But like them people who doing that shit on their own.

SPEAKER_05 50:26

Now, now I will say this regular, regular eviction. You put all this shit out in the front yard, right? Whenever you evict somebody and they and they don't, whatever, they have to leave, and then it just sits out there for weeks, and and then the city says, Hey, you gotta

Eviction filings downtown and how cities track repeat addresses

SPEAKER_05 50:42

do something with this, bro. Uh so whereas as you evict the pass butter, you put his duffel bag out front. What do you it's not it's not it doesn't draw as much attention in the neighborhood.

SPEAKER_01 50:52

City of our if you you have one in Arlington, right? Oh, Arlington just come picks it up.

SPEAKER_05 50:58

Uh no. I had to I had to over there they did it out. Everything they picked up everything, yeah.

SPEAKER_01 51:06

South side, but okay. I will say this though. I live in Arlington, but I'm in Mansfield School District, so I don't know if that makes a difference. It's still Arlington, like this dude over here, he just got evicted. And I was like, damn, that's a bunch of shit outside. But I'll be real though, the city came and got the leftovers. It was a whole bunch of scavengers. It was a bunch of scavengers, but the city came and got the leftovers. Because I just put a couch. We had an old couch in our garage and we moved out so we can continue having our gym. I put it out there, it was gone the next day. Like anything you put outside over here, this shit's gone. Like, you know, yeah, somebody picked it off, or and then I'll see the city come with the truck, load it up, and get it out of here. But yeah, I don't know. Yours is in North Arlington, right?

SPEAKER_05 51:56

Like central.

SPEAKER_01 51:57

Um between 20 and 30.

SPEAKER_05 52:00

Yeah, because I I did the eviction that one time it's it's the stuff stayed out there, and then I don't know if I got a warning from the city, but I mean I I I I paid my my lawn guys to haul the rest of it away because it was just sitting out there for too long, man. And um, so yeah, I don't maybe they maybe maybe it was just a small pile or whatever was left over, yeah. Maybe, you know, but there was a lot of crap out there. Um, but it got picked picked over a little bit.

SPEAKER_01 52:27

Yeah, and then our trash guy, yeah. Our trash guy, you know, he he usually they come and grab that stuff real quick. Yeah, I was just wondering about the eviction thing. Like, I was like, how do we keep this like out of the city's hands? But because I that because and when I was doing my little stint, my little uh meetup this weekend, that's the first time I kept saying, like, I was like, the benefit of pad split is you know they can handle some stuff for you, they can't evict for you, but they can put the pressure on for you. You know what I mean? They can, hey, here's the pressure, and then the landlord comes behind it, you know. So that's it.

SPEAKER_05 52:59

Yeah, they they help a little bit, they help a little bit.

SPEAKER_01 53:01

Yeah, because I would seem seem like it would be more uh beneficial to use them because it's like you ain't gotta handle certain things, but if you're handling that stuff on your own, that paperwork can get messy. You know, you having to go do the whole eviction thing, put the letter on there, go to the jail, you'll be like, oh hell no.

SPEAKER_05 53:25

Yeah, it's not fun. I mean, but like I said, by the by this by this point, when this happened this week with that guy, I was like, I was a lot less scared. I was like, uh, you know, things happen, let's see how it plays out. I'll go talk to him, see what's going on. And um, if he's you could tell when you talk to somebody if they're gonna be bullshitting you or not, but but no, he had his stuff packed. I'll be out tonight, man.

SPEAKER_01 53:47

I'll be out tonight. Yeah, B minus B minus C plus seemed like that's the that's the play for pass split, then that's a sweet spot. Yeah, yeah, that's a sweet spot then.

SPEAKER_05 53:56

Stay away from the A.

SPEAKER_01 53:58

Yeah, yeah. I wouldn't even. I'm gonna be I'll be honest though. Honestly, if you look at like Airbnb overall and why it got all the regulations, because people's doing it in A-class neighborhoods, they're the ones who are drawing the attention. You're going to these A-class neighborhoods and getting all these people riled up. You got people start coming in. I mean, it's the same thing, that's just exactly what happened.

SPEAKER_05 54:20

Yeah, we went to the city hall meetings, remember?

SPEAKER_04 54:22

Yeah, really bringing all these people from all different nationalities. Oh, yeah.

SPEAKER_01 54:30

Where were they at? They were up there in far ass North Arlington where you know what's up there. Like, bro, come on now.

SPEAKER_05 54:37

The ex-mayor lives there, don't do Airbnb there, man.

SPEAKER_01 54:41

Exactly, bro. Like, come on, like it was plainly obviously, but I think plainly out plainly obvious, but you know what though? Airbnb, remember when people were making money on Airbnb, they were targeting that. People making on Passpit, they ain't targeting that. So that's the bet best part about it.

SPEAKER_05 54:57

That's that's the difference, yeah.

SPEAKER_01 54:59

Yeah, it's the difference in like the mentality were like, oh, go up here, you can put this many heads and beds, and they making all this money. Passport's like, we're gonna avoid that. Come to the middle, you know, the middle area, and we'll go there. Yeah, I think that's the that's the play.

SPEAKER_05 55:13

Yeah, you didn't want to put Airbnb's in the hood, yeah.

SPEAKER_02 55:16

Yeah, you still in the beginning it was okay, but then it got a little you know, people started getting more picky.

SPEAKER_01 55:23

Yeah, I think more people got on the platform, yeah. And then, like, you you know, Airbnb when it first started, it was for like, well, we got some older people, but it was a lot of like younger, you know, younger people moving, and then it just kind of blew up, and now you got like mom and pops in there, so it's just like, yeah, you gotta be careful. Sure.

SPEAKER_04 55:43

How do you use a smart lock again?

SPEAKER_01 55:45

Yeah, yeah. Once you start getting them, and then they're like, uh, they don't like the neighborhood, and I'm like, oh man. So Airbnb went through exchanges for sure.

SPEAKER_05 55:54

So one cool thing that uh happened is um I got my

Lupita's first Airbnb: cowboy theme, twilight photos, Fort Worth skyline

SPEAKER_05 56:00

wife her first Airbnb.

SPEAKER_03 56:02

Okay.

SPEAKER_05 56:03

Out of an apartment complex where I where I have a couple of them at. And um, and she's super excited about it, man. That's and that's cool. It reminds it takes me back to when I was you know excited about doing it, you know. I still I think it's cool. And um, and so we had our you know, the the people that do our photography for us, they uh shout out to Ali. Her and her mom created this one, right? Well, mostly her mom, and then she brought them in to help her, you know, and um and and they love doing it. And I I'll tell you, because they do amazing photos, photography if you need photography. And they even got a drone to do drone photos and all. They got they got the whole spiel, right? They do twilight photos, all this stuff, you know. Depends on what you want. But they had refreshed a property of a friend of mine, you know, and happened to be the the lawyer I know, you know. And he had so he had this house over there, Bishop Arts area, right? But gentrified Oak Cliff. There you go. But it was designed by a dude, and you could tell it was designed by a dude, you know, just someone that he threw some stuff together, here we go. Yeah, and it would get like you know, weekends booked, maybe, you know. It wasn't all it wasn't nothing in the midweek, it was just and he was he wasn't making no money off of it and this and that. And he asked if we could help manage it and bring it back. And I was like, Yeah, we'll we'll take it over, but I really I need to get it, needs to get refreshed, man. It needs to get yeah, it needs to get some design in there, it needs to get some better photos because it was iPhone photos or whatever. And so he was reluctant because I mean if you're losing money on something, it's hard to spend money, right? Because you're losing money, but I was like, dude, just spend a couple G's, it'll make a big difference, anyways. They went in there and they refreshed it, and you know, it didn't cost a bunch. Like I said, a couple G's, they had to buy everything and put it all together and took beautiful photos, it all you know, all the same for the same price, and it stays booked, stays crazy booked, man. People love this place, man, because it's a the location is wonderful, the house is nice, it just had bad design and bad photos, especially in DFW, bro.

SPEAKER_01 58:07

Yeah, if you you can get if you have good design here, you're winning all day.

SPEAKER_05 58:12

Yeah, straight up. But Bishop Arts, especially it's like a the hot zone, man. People want to go there for real. And so he's just staying booked, and it's like so as whenever I was I I had them refresh a couple of mine, you know. I was like, oh, they did a pretty good job, and you know, then made the bookings come up. And then so they they did um Lupita's first Airbnb, like a whole cowboy theme, you know, and uh it looks really nice. And they did the the photos, the twilight photos, it has a view of downtown Fort Worth, so it's really cool, man. And it's but it is and it's booked up right now, so so she's excited, she's got her first Airbnb, you know. So she's she's just she's got the bug, and um, so I'm I'm happy to bring her in the fold, you know, because you know she's stay-at-home mom with the kids and all, and that's all great, but she's she wanted like her own her own thing, also.

SPEAKER_01 59:01

Yeah, man. Uh, we gotta get y'all on the podcast, you know, because it's all gonna be by oh, we should do the wives again.

SPEAKER_05 59:06

That'd be that'd be cool, the wives podcast, too.

SPEAKER_01 59:09

But uh, I want to get y'all on the entrepreneur marriage podcast because we're gonna be interviewing a bunch of like entrepreneur married people, and it's gonna be dope. So, yeah, we definitely got to get y'all on.

SPEAKER_05 59:18

That's cool, man. Yeah, how many episodes y'all done?

SPEAKER_01 59:22

I think three or four. We ain't released it. We're releasing it on matter of fact, we're releasing it on our anniversary, our uh marriage anniversary because we got married the same day.

SPEAKER_05 59:30

Oh nice, nice, yeah.

SPEAKER_01 59:33

We're gonna release it February 7th.

SPEAKER_05 59:35

Yeah, cool. What are y'all doing for the anniversary?

SPEAKER_01 59:38

Uh the just that releasing it. We were gonna do something big. We're like, nah, let's just release the podcast and we'll we'll we'll do that, you know, hang with the kids and all that and do how a podcast release. If my parents are in town, we might do something. We'll think of it, we'll see.

SPEAKER_05 59:50

I'll tell you, I'll tell you uh a really nice place. If you're looking for a high-end place to take your wife, you know, okay, it's called Don uh Don Artemio's in Fort Worth. Don Artemio's like 7th Street area, Don Artimios, A-R-T-I-M-E-O. And this the only reason we went there, you know, I

Don Artemio's $92 Texas Wagyu and World Springs day spa anniversary

SPEAKER_05 1:00:12

don't really go to Hoity Toy places and stuff like that. You know, I might go to Roadhouse, but we should we we stray hole in the walls, baby.

SPEAKER_02 1:00:18

That's what the food is, bro. I know, right?

SPEAKER_05 1:00:20

Yeah, but but my agent, shout out to Lucy, you know, we bought a few houses through her already, you know, so she's a great agent. So she sent us this gift card, $300 gift card to that place, right? And we needed every bit of that $300, but it's one of those spots, right? And it's like, well, I had this Wagyu, Wagyu, whatever Wagyu, Texas Wagyu, you know, that so the Japanese Wagyu cows, everybody knows what those are. Those are really expensive cuts of meat, right? It's really marbleized and delicious. So I had that, and then you know, Lupita has the salmon, and we had this other stuff, we had some other appetizers, and like, yeah, we spent every bit of that, and then some, you know, it was one of those restaurants.

SPEAKER_01 1:01:05

Yeah, me go ahead. Me, me and mahogany had the same experience. Go ahead.

SPEAKER_05 1:01:11

Oh, yeah. But it was cool. It was like, okay, I said, okay, this isn't bad, you know. Treat to treat, you know, to treat ourselves. We we've accomplished a lot.

unknown 1:01:20

Yeah.

SPEAKER_05 1:01:20

To treat ourselves every now and then with a place like this is pretty cool. For sure. And I will say this, I noticed something. Um, young, attractive, like 20-year-old chicks, they got a thing for old gray white dudes.

SPEAKER_01 1:01:33

Oh, you already know it, bro. Ain't tricking if you got it, right?

SPEAKER_02 1:01:41

Man, ain't tricking if you got it.

SPEAKER_01 1:01:45

Um what area of Fort Worth do we go to? Speaking of gift cards, so my mentor, we we had uh we did some work for my mentor, and he sent us this $150 gift card. He sent us this $150. He's like, hey man, you and your wife go out to this place called Rise Souffle. I had never heard of it. I had never ate souffle, you know. You know, it was we we went over there, we were in Fort Worth. Um, where the hell were we? We're in like this nice area of Fort Worth where all the coach stores was and all that. So we pull up. I'm like, oh yeah, this is gonna be kind of bougie. I'm like, well, we'll do it, you know. We we we'll do it. So we went in there and like, man, we needed that whole 150. I'll say that. Like, you know, we got appetizers, yeah. Appetizers and dessert, boy.

SPEAKER_02 1:02:26

That 150 was gone. 150 turned to 160 real quick.

SPEAKER_01 1:02:32

So, yeah, it was cool though. You know, we went over there, it was it was alright, food, and it was it was cool. We really enjoyed ourselves, man. So, yeah, I know what you mean. You know, step outside, you know, go somewhere else, see something different.

SPEAKER_05 1:02:43

It was cool, it was cool, but it was definitely, you know, yeah. That demographic was there, the ones with the with the money, and that's cool. I want to be in that, yeah.

SPEAKER_01 1:02:53

You know what? Honestly, you know, another place like we usually do, like we've done this last year for our anniversary. We went up to uh we got a room at Frisco Hyatt Regency, got a room up there, and then we went to World Springs for a day. Man, that was so fun, bro. I might do that this year. Like, yeah, yeah. Have you been to World Springs yet?

SPEAKER_03 1:03:10

Mm-mm.

SPEAKER_01 1:03:10

Oh, you gotta go to World Springs, bro. It's like they got like a hundred something pools in there. Like, it's like, oh no, a hundred, might be like 50 pools in there, but they're like all these pools with different minerals in them. You can cold plunge, they got cold plunging pools, then they got all these hot tubs, and then they come around, they serve you um, they serve you wine, moscato drinks, and you can, you know, it's nice. Just look it up. World Springs. It's pretty, it was pretty cool. We we went all out last year. We had like they got these deep tissue massages, and then we went to the pools. It was dope, bro.

SPEAKER_05 1:03:40

World Springs, yeah.

SPEAKER_01 1:03:42

People fly all over to come to this place. Like, we were meeting people there from like, oh yeah, I flew in from DC. Oh yeah, I flew in from Cali. I'm like, to come here? I'm like, yeah, like because you know, people love it. So, like a lot of people fly in from out of town, so it was real cool.

SPEAKER_05 1:03:57

That is neat, man. No, it's it's cool to treat yourself every now and then. It's yeah, got to.

SPEAKER_01 1:04:03

I mean, you got to, right? Yeah, smell the rose. You gotta, as mahogany says, you gotta stop and smell the roses.

SPEAKER_05 1:04:07

I will say that that that one cut of meat was just for the meat, and it came like a little foliage, little little side salad looking stuff. It was it was it was nine $92 for that cut of meat. That was and that was the Texas Wagyu. It had actually had a price on it, right? There was the Japanese Wagyu, and it just said market price. It didn't it didn't give you a price.

SPEAKER_01 1:04:30

I was like, Oh, yeah, you won't how much is that gonna be, man?

SPEAKER_02 1:04:34

$500 for a cut of meat, $300 plate, real quick, boy. That's crazy. Yeah, but some people, some people can do that, you know, and not even blink, you know. Straight up.

SPEAKER_01 1:04:46

We all we all gonna get there, bro. That's what we're hustling for, you know what I mean?

SPEAKER_05 1:04:50

Yeah, yeah. Yes, sir. It's cool, it's cool. We had we had a good time, though. We had a memorable experience.

SPEAKER_01 1:04:56

Yeah, that's all that mattered, bro. Memorable experience.

SPEAKER_05 1:04:59

So, yeah, man. That's uh fun show. Yeah. Uh episode, whatever the hell this episode is. Uh oh, I've real quick, I was looking at uh a seller finance house. You know, like I said, my 10 houses. Oh, okay. I might be closing on that as early as this week on the seller finance house. I'm looking pretty much just for seller finance, owner finance houses. Find your niche. Tired of dealing with banks, tired of dealing with uh DSC. I mean, DSDR is okay, but you're still paying 20% down and all that stuff. So I'm trying to put as little down as possible, and then you know that I have my my tools to work with. I can make it a pad split, I can make it uh uh short-term rental, I can make it a corporate, you know what I'm saying? Um anything but long term. I hate long-term rentals that you know. I'm at that stage. I know you're you're trying to get you're doing you want long-term rentals. I hate long-term rentals because of the the eviction stuff, you know.

SPEAKER_01 1:05:53

Yeah, I feel you.

SPEAKER_05 1:05:55

Um, but that's just me.

SPEAKER_01 1:05:56

Yeah, I'm doing I'm going through a property management company, but I'm doing long-term, I'm still doing short term because I'm I'm using that loophole as much as I can so I can keep on buying. Um but yeah, man, it's a lot.

Trump admin proposals: 50-year mortgages, 10% credit cap, corporate housing ban

SPEAKER_01 1:06:08

But uh, oh, another thing, because you were talking about your houses. You heard Trump stopping the big corpse from buying houses?

SPEAKER_05 1:06:14

He's gonna try. I'm gonna try.

SPEAKER_01 1:06:18

Well, the Trump administration is trying.

SPEAKER_05 1:06:20

Yeah, there you go.

SPEAKER_01 1:06:22

Interesting how that goes. We'll see. Keep your eye on that.

SPEAKER_05 1:06:24

He's trying that, he's trying to cap credit cards at 10%. What else? Uh oh, 50-year mortgages. Um, he's trying to do a bunch of different things.

SPEAKER_01 1:06:34

We'll see how that goes. Yeah, man. We'll see how that goes, man. But yeah, man, uh episode what?

SPEAKER_05 1:06:42

I don't know what episode it is, but I said three, it's anywhere between 338 and 340. We'll have it on the thing. Whatever you pull it up, you know. It's it's the it's the next episode. Um, I was rocking too short today. That's another thing. On the way to the past play. I'm gonna hear some too short.

SPEAKER_01 1:06:57

Yes, sir. Shout out to last album. Getting it.

SPEAKER_05 1:07:05

Shout out to shout out to Betty.

SPEAKER_01 1:07:09

Let's go.

SPEAKER_05 1:07:10

Well, where can people find us, Micah, man?

SPEAKER_01 1:07:13

Man, find us on Instagram, TikTok, all that good stuff. Email us, livelethrive at gmail.com. And yeah, thank y'all for continuing to listen to us. And if y'all, yes, email us. Remember to like and subscribe on the video, man. And we love bringing y'all this content every week. And we are oh, let's do some.

SPEAKER_05 1:07:31

We're gonna have a lot more guests coming this year, too. Let's let's start. Let's make that our yes, sir.

SPEAKER_01 1:07:35

We gotta make that happen. We gotta get some guests off for sure. Yeah, we definitely gotta do that.

SPEAKER_05 1:07:39

All right, my brother.

SPEAKER_00 1:07:41

All right, out. Peace. Thank you for tuning in to this week's episode of Live Let Thrive. Be sure to tune in next week for all the latest in the world of Airbnb and all that entails. Bye-bye.