Live Let Thrive Podcast
Airbnb, PadSplit, Corporate Rentals, Arbitrage, and Live Let Thrive cover all the creative ways to rent out your properties to maximize profits. We also cover creative ways to buy properties. Come along for the ride and have some fun along the way!
Live Let Thrive Podcast
World Cup Hype vs. Reality - What a First PadSplit Actually Taught Us
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Steve's friend David unexpectedly showed up during a corporate housing tour - the adjuster's clients arrived for a self-tour while David was grabbing items from the garage. Instead of disaster, David's people skills saved the day: he charmed the couple, they loved the house, and booked eight months at $5,100/month through Sedgwick for a house fire claim. The hosts expect it could run over a year, typical for fire remediation that stalls over holidays.
The episode covers 2026 World Cup pricing strategy for the DFW area (Arlington hosts nine games including Messi), with nosebleed tickets at $1,200 and only 10% of visitors actually attending matches. Steve details his PadSplit learning curve - dealing with a tenant leaving feces everywhere due to health issues, another kicking out cabinet doors and threatening roommates, and a complaint-heavy tenant trying to control the house. He's sticking with the model despite higher maintenance, noting most tenants are great but personality clashes and health crises require faster action on the 14-day notice. The crew also discusses AI automation through ChatGPT Atlas for guest messaging, ticketing, and vendor coordination.
Work with us. Interested in professional management or consulting?
Myka — Sharebnb: www.sharebnb.com
Steve — Argest Rentals: www.ArgestRentals.com
Sign up for PadSplit with Steve's link and get a free 1-on-1 PadSplit strategy call with Stevie Stacks: padsplit.com/hosts
Myka's other podcast, Entrepremarriage — building wealth without losing the marriage: youtube.com/@Entrepremarriage
All our links: linktr.ee/liveletthrive
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Cold open
SPEAKER_00Welcome 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_04Hello, hello, hello.
SPEAKER_03And welcome back to another exciting episode of Live Let the Rave.
SPEAKER_02What is up, Micah? I'm chilling, Stevie Stacks. How you doing, man?
SPEAKER_01I'm doing great on this beautiful Tuesday. And this is your favorite short-term, mid-term, long-term. All that fun stuff. Podcast in the world coming at you from Fort Worth in Arlington, Texas. This is Live Let Thrive.
Episode 327 and the 2026 World Cup pricing opportunity
SPEAKER_01Let's go, man. It's been a minute again, huh? It's been a minute. And this is episode 327, by the way. 327 episodes. Yeah, we we took a little break and the holidays are in full in full steam, you know, and we get busy and we got a million events. And when you get uh multiple kids, you got a lot more stuff. You know how it is. It's life, it's life, but it's all worth it, man. And we're gonna talk some good topics today. Um, first and foremost, I wanted to bring up um the World Cup pricing strategy. Because we are here in Arlington, you know, you live in Arlington, we got places in Grand Prairie, uh, surrounding cities. Um, so yeah. Uh I'll I'll ask you first, what I mean, what jumps out to you and your um pricing strategy as towards the World Cup coming in. It's gonna be between June and July of this year, 2026.
SPEAKER_03I don't honestly, I don't have anything in this area. My nearest one is Richardson, which and so I work in government, so we we have to plan for the World Cup. Um, and we're expecting most of the Richardson, we might get a little overflow from like the Dallas side or whatever. Um The only thing I could see in Richardson is maybe if people don't know where the stadium is, they might you know how we always talk about it. They say everything's Dallas, but this is really Arlington.
Messi's coming: $1,200 nosebleed tickets and five-times rate increases
SPEAKER_03So if you go get a place in Dallas, you might be far as hell from the stadium. But uh I don't have any but if I was if I did have something, oh I'd probably I'd probably five to six times increase my rate because it's gonna be this is bigger than football, right? This is the number one sport in the world. World coming here for nine, was it nine games? And top it off. You know who's playing here, right?
SPEAKER_01Uh I looked, yeah, yeah.
SPEAKER_03Messi is coming. So when when met you know how much a ticket is?
SPEAKER_01I seen they starting around, I mean, the ones that are out there, because they're they're releasing more and more as they go, right? I think I seen them for around 900 bucks for a ticket, just a regular nosebleed. Are they higher than that now?
SPEAKER_031,200 for a nosebleed. If you want to uh like the sideline, that's 10,000. I was like, D. So yeah, you can definitely raise your prices if that if that's the ticket point that's coming here. So you can definitely raise your prices for sure.
SPEAKER_01Now, uh, Mr. Mark uh Simpson from Boosley, he he he he sends out some cool stuff and he mentioned the World Cup. I don't know if you read what his write-up was in the World Cup. I did not. What did he
90% come for fan zones, not games - Mark Simpson's strategy breakdown
SPEAKER_01say? But some of the one thing that stood out to me is everybody's thinking, oh, everybody's gonna come here and watch the games. Not exactly. It's gonna be, he said, like, of of the people that are coming here, about 10% will actually get a ticket to a game. Whereas the 90% of the people that are coming here are just gonna be here for the fanzone experiences, you know, just to go party with their fans and be close to the action and just have a good time, and and that's what 90% of the people are here for, and so that's to in his write-up, that was part of the strategy, you know. Are you trying to fight for that 10%? You know, the the ones that are actually going to the games, or are you fighting for the 90%, you know, to that just want to be here for the experience? And his point was, and I'm not sure if I agree with it too much, but the his point was that the people that are here for the fan zone stuff, um, you're gonna want places that are walking distance to the to the fan zones, which to me, I don't I don't know if I agree with that. But he said, people with tickets is different because they can be anywhere in around the vicinity to come and go for the for the games, it doesn't matter, they just want to watch the games, whatever. But um walking distance to the state, I mean there's still Ubers. We still got you know public transit to get to get them to and from the fan zones, you know, as long as they're with in within a 30-minute uh radius, maybe a little further, then they can they they can still enjoy all the fun stuff and then Uber back to where they're staying.
SPEAKER_03So I just got out of a three-hour meeting about FIFA at work. Oh this is what's expected. I've my co-workers made a good point. He said after FIFA comes to DFW, they're gonna treat it just like the Super Bowl and ain't gonna ever come back. Because what he made a good point. He goes, think
Half a million people need Ubers in a city with no public transit
SPEAKER_03about it. You're having it in Arlington, it's gonna pack out the stadium. The pack stadium is probably never gonna ever be this packed again. They're gonna f they're gonna fill it to the T. And there's no public transportation in Arlington. No Ubers work. However, you got a hundred, I'll I'm gonna say this. You have half a million people needing an Uber. Okay? Yeah. Now what kind of traffic concerns do you bring in? And then on top of that, like that 90% he's talking about, they're gonna be trying to Uber over here late a little bit, catch some of the bars, and you know, ain't too many bars in North Arlington besides Social House, uh the little pub across the street by Walmart, uh, and then you know, Division, those aren't really bars, those are strip clubs. I don't know if they're showing the game in those. But I don't know, but it's gonna be I I'm suspecting that it it's gonna be a little I don't know. Like I I would say walking distance, and the reason why is because it would need to be walking distance, but you can't have walking distance because Arlington, of course, shut down the short-term rentals, so you're limited on the our entertainment district. I'm pretty sure that stuff's already booked. If not booked, it's gonna be booked at a high rate. So the stuff around the entertainment district, you're limited. Now you do have the hotels live by lows. I don't even want to know. Honestly, I if I was somebody, I would look at how much they're charging per night. Look at how much they're charging per night and see what you know you can offer more amenities than them, especially if you have a pool. Uh, see what they're offering, because that's gonna be booked. So after let's say all the entertainment district gets booked, now you're gonna have to go farther out, right? You're gonna have to start going into Grand Prairie, Irving, Dallas, Fort Worth. So I don't know. Like, I think his advice, it's dependent upon you, have to know how Dallas is set up, how the DFW's set up, especially Arlington. Arlington's gonna be limited on on places, unless, I mean, I don't know if there's some undercover Airbnbers. I'm pretty sure there are, but enough to cover that, I don't know. It's gonna be interesting.
SPEAKER_01No, no, they did say, yeah, one of the fan zones is gonna be at Fair Park in Dallas. That's where the that's one of the fan zones. And uh yeah, I know. And and the what what makes me laugh is like, yeah, walking distance to Fair Park, you might get shot on the way.
Fair Park fan zone - you might get robbed walking there
SPEAKER_02Yeah, you definitely want to walk through the hood. You you oh man, I didn't know they they're gonna have one in Fair Park.
SPEAKER_01Fair park is one of the fan zones, they're about to get robbed. I think Fort Worth is another another official fan zone. Um, but Arlington. Um I'm not sure. I need to look it up. I think I thought I thought somewhere in Fort Worth was so like they each have their own thing. And then um, of course, Arlington on on the grounds, Jerry's gonna have it's gonna be a big they're probably gonna close off all those streets around there and have like a huge fan zone around the stadium. I would imagine.
SPEAKER_03I would imagine too. Because you're limited in Arlington. I would put I'm surprised Frisco would have to be a fan zone by the uh what's it called? By the Ford, by the practice stadium?
SPEAKER_01By the soccer stadium over there? Yeah, yeah.
SPEAKER_03Yeah. I would assume.
SPEAKER_01That's a long, yeah, that's a long trip to the street. That's a long haul.
SPEAKER_03That's a long haul. Like you you're limited on I don't know, that's interesting. We gotta look that up.
SPEAKER_01Yeah, I'm gonna look it up right now while we're chatting.
SPEAKER_03The reason why I say that is because DFW oh go ahead, go ahead.
SPEAKER_01What are the official fan zones in Arlington for the World Cup?
SPEAKER_03Yeah, because I think uh I think you're gonna be limited on space.
SPEAKER_01Because Arlington ain't got too much, you know, so Arlington Arlington Entertainment District is the main hub, you know, near the stadiums, other spots, official fan zones, fee so this doesn't tell me clean zones, likely Dallas or I heard I heard Fair Park though for sure.
SPEAKER_03Um I'll find that's probably because the stadium's out there. The Cotton Bowl stadiums out there, right?
SPEAKER_01Yeah, that you know that's the last time it was when did they come? The last World Cup was it '92 or '96 here. It might have been ninety. It was ninety two or ninety six. One of those, one of those two years. But they had it here, and Dallas is one of the sites, and they had at the Cotton Bowl was where they played.
SPEAKER_03Okay.
SPEAKER_01So the original World Cup, I mean, the one that came here before was at they had it at the Cotton Bowl. Um, and then of course, throughout the rest of the country, too, LA, New York, all that stuff.
SPEAKER_03Okay, so I'm looking at it. So Fair Park is one. Okay, here they I got them. I got all the names.
SPEAKER_05Okay, cool, cool, cool.
SPEAKER_03Okay. Fair Park, Dallas, Clyde Warren Park, downtown Dallas, um, Deep Elum, downtown Arlington Entertainment District. Those are all those are all the fan zones.
SPEAKER_01Deep Elm, huh?
SPEAKER_04How many murders? How many murders? Yeah, Deep Elm ain't what it used to be, but like I don't know.
SPEAKER_03I'm gonna say this. If you go anywhere, like if you try to go down, if you go anywhere, you better be taking an Uber. Like, it's gonna be crazy here. It's gonna be crazy, in my opinion. Umly reason I kind of want to go to the stadium is because Messi's gonna be playing. Those Argentina days are gonna
Volunteer bib scheme to sneak into the stadium for free
SPEAKER_03be crazy. And the reason I was thinking about it was because uh I was seeing, does uh Federico still live here?
SPEAKER_01No, he lives in in upstate New York. Oh man. But uh I heard that he's gonna he's gonna be in town for that. I heard he's gonna be in town for that.
SPEAKER_03If you speak the language, they'll let you volunteer and escort the team onto the field. That's I was like, man, I would have done that shit.
SPEAKER_01You know, I had I have a buddy at work passionate about soccer. He's he's for Puerto Rico, and he's he's passionate about soccer. And he said he he put in to be a volunteer and he got turned down. He said, I guess so many people put in. But his thing was just to get in the stadium and then all right, peace out, take the bib off and go go watch the game. That was his book. That's probably everybody trying to do that.
SPEAKER_03Yeah. Um, my co-worker got she she she got accepted to the tryouts. So she has to go to uh damn, where'd she have to go? She just talked to us about it. She has to go somewhere, like in Dallas, and they have to do tryouts to be on there out there. I was like, damn, for real. So yeah, some people got in. So yeah, they that the see, but that makes me think too, though. Remember, we were think talking about housing the people coming in here? Maybe a lot of those people are local talent, and then like maybe like camera crews and stuff like that, because I think that's where the money is. Me personally, I don't think it's housing the fans. I don't think the money's there. I think the money's housing like the camera crews, the those people. I think that's but they might book hotels, you know what I mean? Like, and they probably need to be close to the venue.
SPEAKER_01Yeah, it's gonna be a lot of workers putting all the stuff all the you know stuff together that are coming to town. So it'll be neither they're gonna be here for a long time, right? Before and after, right? Taking it all down afterwards. So, yeah, that's a good target. Not
FIFA fans might be your biggest liability - drunken damage after a loss
SPEAKER_01just the fans that are you know gonna go to the games, but the ones that are here to to build all the stuff they gotta build and and take it all down.
SPEAKER_03We can even go a little further. The fans might be your biggest liability to house. Tear your stuff up, I mean, you out the especially if their team loses.
unknownYeah.
SPEAKER_02I'm for real.
SPEAKER_03You out of the country, you bring like 10, 15 dudes with you, and you know you drink your beer, man. I don't know. That might be the that might be the low-hanging fruit in this situation. You have to look at stuff like that.
SPEAKER_01How many clay, how many claims is Airbnb getting ready for to turn down?
SPEAKER_03Man, think about it in the World Cup too, like the World Cup's about to be going on here, Seattle, and other places. So it's like that's a lot of claims, bro.
SPEAKER_01Better put that $5,000 deposit on their credit cards.
SPEAKER_03Man, bro. I would, I would, I would, I wouldn't be taking reservations through Airbnb. You know, they ain't gonna let you pay nothing.
SPEAKER_01They don't pay anything no more, man.
SPEAKER_03Damn. But yeah, that's maybe some bed sheets.
SPEAKER_01They might pay you for some bed sheets. That's about it.
SPEAKER_03For real, man.
SPEAKER_02That's how they operate nowadays.
SPEAKER_01So it's a big, it's a big deal, man. It's a it's a huge deal. And I guess, you know, I was looking, I was talking to to my assistant, my um, my partner Manu, right? Okay, um, and we were talking about the World Cup, and of course, reading all the stuff that he could read, and then running it all through Chat GPT, best strategies, and and um I I I did say one thing. I was like, you know, people we know in in our circles and stuff, there's some there's some really great pricing strategists that'll turn it into calculus and show you what you're supposed to do. And does and I and I reminded um Manu, I was like, listen, oh, because he he mentioned something like, okay, so we're gonna turn down any corporate requests because we want to keep that month clear, right? And I was like, you know, we're a corporate housing company,
Corporate first, not competing with Airbnb stone cold killers
SPEAKER_01we're not a we're not I'm not an Airbnb company. I don't want to compete, and there's some stone cold killers out there at Airbnb, they're great at it. And the Sean Residents and he puts all the data out there, he's great at it, and a lot of friends we know. I'm not I don't want to compete against them. I don't want to compete against other Airbnbers for for that demographic, like you say. I love corporate housing. I want to pee, I want to fill all my houses with corporate people, fill all my you know, condos apartments with corporate people, and call it a day, get paid a good profit. Because, okay, let's say you make your like you said, you want to raise the price four times, five times. Let's say you make that you know hit gold that month, right? And you're still in an arbitrage for two years, or you're still in a house that you're gonna keep you know renting out, or or you pick something up because you think you want to hit golds, you gotta you had a great month. Okay, cool. But I'd rather have a great year, I'd rather have a great two year. I mean, I wanna I'm a corporate housing first, so that's that's how I'm looking at it. You know, I mean, what uh what do you think about that?
SPEAKER_03Um, it it depends on how you look at it, because I I'm the same way. I'd rather take like right now, we're slow as hell because of Christmas, and so people aren't traveling as much. So all my I get the last minute higher price reservations, which is cool, but I'd rather have a corporate person take over that whole time. However, I still raise my prices, and the reason is, but I I set limitations on how many days you can stay or whatever. But the reason is I still raise my prices, is I would still want that premium of that time of the year, like FIFA, even though I'm targeting corporate housing or whatever, I would still want that per night premium because hey, you're coming in during a time where once in a lifetime opportunity is happening, right? We might not ever like the last one was in 96 or 92, like you said. Yeah, we probably won't see this another what 30 years. You know, so I would take advantage of it. Um, like that month, I would probably price it a little higher. That June month or July month, I think it's July,
House fires book eight months minimum, extensions run past a year
SPEAKER_03is it June? You know, that month, those months, I'd price them a little higher. Plus it's summertime anyway, so you already got that premium coming. So I would price them higher, but I would still definitely take a midterm over like a holding some FIFA fans for a few, oh, might be a couple of weeks, right? Because you got Peppo humming in and out, but yeah, yeah, yeah.
SPEAKER_01That's true.
SPEAKER_03Now, now I will say this the FIFA fans will probably be low maintenance, but that bill of you know them breaking stuff, you know, that might be a problem. Because whenever you have you I don't want to be political here, but guys are less maintenance on a property than a female is, right? Really? Oh man, come on.
SPEAKER_02Why do you say no at all?
SPEAKER_03They're gonna have less less complaints. Come on now. You know it's gonna be less complaints, you know.
SPEAKER_01Oh, you meant in that regard. Yeah, yeah, yeah. Never mind.
SPEAKER_03Oh, yeah, yeah, yeah, yeah. Like complaints and stuff like that.
SPEAKER_01Destroying stuff, I don't know. Drunken guys probably yeah, yeah, yeah.
SPEAKER_03Destroying stuff for sure. That's all I was saying. You you're gonna have that bill, that you know, that that uh cleaning guitar.
SPEAKER_02As far as breaking stuff to kids, as far as complaining, it might be like that woman who's traveling, you know.
SPEAKER_03You always get that whenever you get the family traveling, and you know, it's the guy telling you all this stuff, and you know it's really his wife, you could tell like, hey, the toilet seat was up when we walked in, stuff like that. You're like, oh, this is your wife saying this stuff. But you know what I mean? So it's just one of those things, like you know, it kind of like if you do take the FIFA crowd, and if you take the FIFA crowd, you might, you know, get a little bit easier to deal with guests, but a harder checkout. I'll say that. So but I would I would still raise the price on them and just you know, up charge for that month, let them know, hey FIFA's coming. Because I mean you might be able to make off of FIFA what you can make in a whole month. So, you know, it's it also depends on your strategy. If you just like, oh well, I'll just take the month like I normally do, take that monthly booking and do that as well, you know.
SPEAKER_01No, no, I have been thinking like this. I've been telling buddies, hey man, why don't you
Rent out your own house during World Cup and take a Disney cruise
SPEAKER_01why don't you just go out of town for a few weeks and I'll and I'll I'll turn your house into a moneymaker for you. You can go and have a nice vacation.
SPEAKER_03I mean, people did that in Houston. I I I mean, I ain't mad at that. I've been telling people, I mean, people did that in Houston for the Super Bowl. Like, my my cousin was renting a house, and we all went down there in 2017 for the Super Bowl. We went down there like 20, 30 cars deep, right? Just everybody blowing up air mattresses, sleeping on floors, whatever they had to do. But like his neighbors, the whole neighborhood, everybody packed up their stuff and rented out their place, bro. It was like crazy, and we're in far north Houston, right? So every the whole neighborhood, they were Airbnb, and we were the only ones where my cousin was renting there, and we were all staying sleeping on floors and everything. But like them people were charging for that weekend three, four grand for the weekend, you know what I mean? So it's one of them situations, you know.
SPEAKER_01Yeah, so I even told the wife, I was like, you know, I said we can go on a nice Disney cruise and rent out our house and get that FIFA money, it'll pay for the whole cruise, man. Man, it could. It could. We got a swimming pool, we got all kinds of stuff going on.
SPEAKER_03Yeah, it definitely could. Like you could say, okay, I'm gonna do on a Disney cruise, get the FIFA money to pay it off, rent out the house. I mean, that's a it ain't bad, you know, because I ain't gonna lie, a Disney cruise expensive as hell.
SPEAKER_01Man, you seen one, yeah. I've been looking, I've been looking, man.
SPEAKER_02Yeah, I was like, man, I don't know about these kids, man, because I've been looking at one too.
SPEAKER_03I was like, dang!
SPEAKER_01But yeah, yeah, five five-day cruise costs you about eight, eight, or nine G's, man. It's crazy.
SPEAKER_03My god, yeah. Facts. Yeah, facts.
SPEAKER_01You want to pay more, you gotta pay more to if you don't want to stand in lines all day.
SPEAKER_03So see, and that also funny you said that. So my uncle, we planning out a family trip, right? And we were like, hey, where's somewhere we could go? Because we could went to Disney World for Malachi's sixth birthday, and but we had a hookup, man. We had his the he had a friend and she worked at Disney, so she got everything like 50% off. So shit, we were making a killing up in there. But we're trying to go now, but then we look at the cost because we don't have that discount anymore, like, bro, it's expensive. Like, if you go there, like we're just going to Disney World, not even Disney Disneyland, not Disney World. You start looking at it, you're like, dang, bro, this is expensive as hell. Cause you gotta pay to get in the park, pay for your kids, pay for For rides, pay for uh food. It's like dang, bro. Like, yeah, it's expensive. Sure.
SPEAKER_01Man, yeah, it is. Um, but hey, it's the power of the brand, right? Straight up, man.
SPEAKER_02But yeah, you got a lot of good topics on here, man. You you really went in. I was like, oh yeah, these are good topics.
SPEAKER_01And that's and you know, I was whoa was loud. Oh my god. I was no, no, no, no. It was uh I think it was me. When I when I clicked on the check mark for I think it's connected to my to my computer. It went on my on my and my headphones anyway. So I don't know about you if you heard it. But anyways, um I was gonna ask you, you know, to switch
AI automation: ChatGPT Atlas for messaging, ticketing, handyman coordination
SPEAKER_01topics real quick. In what ways are you using AI in your business?
SPEAKER_03Man, I use it for dang near everything. Um right now I'll tell you, I'll tell you what I'm working on with AI right now. I am I'm working to try to uh automate everything through Atlas, which is Chat GPT's new browser. Um so I'm trying to use Atlas to answer guest messages, create tickets, um guest messaging, ticketing, um reaching out to my actual cleaning team and to my actual uh cleaning the um like the handyman reaching out to them, creating like like if something needs to be fixed through home warranty, having it go out and reach out to those things using Atlas. So that's one thing I'm working on. And then right now I'm using it mainly for messaging. Um I'm using it for advertising. So like me and Mahogany, we're doing a lot of advertising videos. Hey, we have places available here, here, and here. I'm using it for my other part of my business, like the wholesaling part of my business. So anything that we can do, like now with the Sora videos, I can have it make videos for me, right? I'm having it make videos, like do the advertising videos. So I use it for anything, anything that I think I can outsource, I can do it. So I use it for. So right now I'm going through my SOPs and I'm gonna see if my like I can use Chat GPT to go through my SOPs and have it see if it can automate all that stuff. Um, because I think we're in an AI-driven world. We were just talking about that at work. Like, I think we're in an AI-driven world, and you don't want to get left behind, but you don't have to go AI, it's just what I I'm I'm seeing the future behind it. That's why I'm putting all my chips behind NVIDIA as well.
SPEAKER_01Damn. Yeah, I I um I had a discussion with with the friends, uh Susanna. Shout out to Susannah if she's listening to the show. But she's the one out of Canada that's that's doing arbitrages here and stuff like that. And and and she had mentioned she uses uh AI. Uh she sent it to me. I I don't know. There's there's a lot of them, but she uses uh something that oh uh like host buddy, something like that.
SPEAKER_03There's an AI I use host buddy, okay.
SPEAKER_01And she says, Oh, it'll do everything for you. You don't I think she has one VA. She goes, She don't worry about the night shift, she don't worry about overnight shift, you know. Uh because I because I told her I have I have someone on every shift in case something comes up, you know. Just old school, I guess old school. And then um my partner, uh Manu, he's he's he's uh does everything corporate. He's the corporate guy, he does all that stuff, you know, handles everything corporate, all the leases, all the dealing with them. But we have the um I have the team doing the each shift that covers anything that's going on in every shift, days, uh, afternoons, midnights, and then um and the and I'll say this, they do utilize AI, you know, it it answers, you know, has the the automated questions and helps you know answer things as best as it can. But I've always been like, well, I'd like I like the fact that I have a real person to help out in situations, you know. And she said, Oh, well, you know, AI will do will do everything for you, and it helps. She goes, Is that it's actually making it too easy for my my uh virtual assistants, they don't gotta do much, just kind of look what's going on with the messages. And um, I was like, Okay, um, I guess, I guess I think she said her goal was to have just do AI, have no virtual assistant, and that's like, okay, I know it sounds cool. But then it's funny, we had that conversation, and the next day she's like calling me, do you know a locksmith? And she's dealing with the situation, you know. I guess her um her VA, you know, AI
Susanna's one-VA operation versus the 24/7 human coverage model
SPEAKER_01couldn't figure it out for her, but the the VA couldn't figure it out, right? And um, and she got a hold of a Karen that was going crazy, threatening to sue all this crazy stuff because she couldn't get in this one apartment building and no one was answering. So it was like this this those kind of situations where I don't gotta worry about those things because my my virtual assistants will handle that for me, right? Hers is kind of new, so I don't know if she couldn't handle a situation. Mine can handle a situation. I think they can find a locksmith and get someone out there and do whatever. I don't have to hear, I don't have to talk to a Karen for an hour screaming at me about sue. I don't I don't gotta talk to I don't gotta talk to any of them. Uh so I like that fact. So um it sounds it sounds great and everything, but I still know that I call major corporations and then when if it's an AI thing, they they try as they try their hardest to keep us from talking to a real person, right? Because they don't want they don't want real people either. And I just I still I still um I kind of hate it. I hate dealing with the AI, you know?
SPEAKER_06Me too.
SPEAKER_01I know they're getting better, and and that's cool, but as far as right now, if major corporations are spending all this money for this AI to deal with us and the and the chatbots and all that stuff, and it still doesn't answer my questions, or if I have a unique question, it can't help me, it can't answer me, and I then have to sit there for an hour to wait for somebody to actually a real person to talk to. I hate that.
SPEAKER_03So this is the cool thing about AI. Once you know that's an issue, you can train AI to fix it. So if you know it needs a locksmith, you can give it a database of locksmiths in your area, and then it can either call or text those locksmiths straight from your Google Voice account. So it's all about it's the same thing, it's just how you look at it, right? So you you probably your VA works, right? Which my VA works too. She and she uses AI. I gave her access to our chat GPT account. It works, but it's just the same thing as training a VA. Everything that the VA doesn't know, you just train it on. The only thing about AI is if you give it access, like you can create an AI agent that has no access to the internet, but only has access to your resources, okay, it would only access my resources, but you can tell it, hey, if you don't have access, if it's not in my resources, you can go browse the internet for the answer. So it could have gone and got a locksmith set up an appointment for you and everything. It's just how you train it. That's all it is. It's the same exact thing of training a person, you just have to train the the VA. So I I'm I'm kind of seeing like at first I was against it. I was like, man, I want the human interaction, but then now I'm just like I wouldn't check it out. I would even run my business because I know AI is so good to where I would be the one answering the phone because I think I could train an AI agent that good to be able to answer everything without ever having to get on the phone. Even resolve a pissed-off caring because host buddy AI will tell you if the guess is pissed off or not. Like that's the cool part of it. I'm like, damn, it'll tell you if the guest is pissed off.
SPEAKER_01You know what's funny you say that. Yeah, uh, I was uh I was calling ATT over something, right? Yeah, and then you know they put you through the that they try to the robot tries to talk to you. It was either ATT or I don't know. Pick your corporation, they all have them. And it was a it was a AI lady talking to me, whatever, and she's like, Oh, can you explain the situation? How can I help you? And I was like, and I told them that whatever the problem was. It wasn't even it wasn't something on their list, I guess. I don't freaking know. Yeah, but then then I just I just you know what it's a fuck, it's a freaking robot. I said, I want to talk to a fucking agent. You know, I screamed at it, like you know, yeah, and then she goes, Please refrain from saying uh inappropriate words. Like kind of kind of she got on to me, man. I was like, Yeah, just ain't this some stuff, some robot telling me what to do. I was like, I thought it was like no big deal, I'm gonna cuss out a robot. You know, it's not I wouldn't do that to a real person, you know. I might get a little heated sometimes when the real person, whatever, whatever country they're from, is trying to like just read a script to me and I'm trying to get a damn answer, you know, question answered. I'm not gonna cuss them out, but I cuss out a robot until the robot, yeah, the robot got mad at me, man. They said, hey, cut your shit out, bro. They should make a ghetto as AI, right?
SPEAKER_04Just to talk to Trust me, somebody out there doing it, man. You already know somebody's doing it. That'd be freaking hilarious.
SPEAKER_01But yeah, yeah, that's that that's just where I'm at. Maybe it may, I'm sure it's gonna improve. And you said it could it can make a phone call to a locksmith for you.
SPEAKER_03Yeah, you can do all that now, bro. Like I tell you what, man, AI can do a lot.
SPEAKER_01Um so dude, homeboy answers triple A locksmith, how can I help you? And then the robot will tell him the whole thing.
SPEAKER_03It yeah, it sounds very have you not received them from cold callers yet?
SPEAKER_01I've yes, and they they they yeah, it's very yeah, you can get it.
SPEAKER_03It's getting better, but yeah, you can tell. Um, however, it's getting better, but I mean, if they're willing to they're trying to make some money, they'll talk to it, but at the same time, texting's much easier. We do a lot of our stuff through text.
SPEAKER_01Yeah, texting is easier, and plus like the big locksmith people, which it's still a heavy mom and pop thing, man. Locksmiths, I mean the prices vary. You can get someone out there, he'll fix it for 100. You can get the same guy and the same problem, another dude, 300, 350.
SPEAKER_03You know, it's just and I'll be honest, a lot of the stuff that you can fit fix with like a home warranty is pretty easy for like an AI agent to do too.
SPEAKER_01Okay, yeah, that's pretty easy. And so here's the here's the thing with the house, you have your own house, and you know, there you have ways to get someone in, an AI can handle that. But when you're dealing with an apartment complex with the front lobby and all that crap, and you add that in the mix, that's when
ChatGPT Pulse delivers daily DFW market news and lead generation scripts
SPEAKER_01it makes it a little harder for the AI to figure out.
SPEAKER_03If you give it the information, it can, but yeah, I could see an issue with that. A house is easier, they can set up a code. AI agent can set up a code.
SPEAKER_01Set up a code, you got backup keys everywhere. You get I mean, there's ways to do it.
SPEAKER_03Also, one thing I will tell guys to do, like if you really want to get the most out of AI, especially like ChatGPT, let it know about your entire business, business model, give it access to all your files and stuff, and what you can do is there's this thing called Chat GPT Pulse, and I use it religiously, right? I have it pulled up right now. And what what it does is it can tell you everything that's going on in your market for short-term rentals and midterm rentals based upon what it knows about your your um um about what it knows about your business. So right now to December 9th. So it basically gives you news about everything that's going on in your business. So these are the news it gave me today. And it this is what these are some of the news. It said uh tested channel mix for DFW in Central Arkansas, five lead generation paths with scripts and follow-up cadences uh tailored to midterm rentals in DFW and Central Arkansas, and it has a full rundown. And then you can tell your GPT agent to go and do these lead generation paths for the day. Um, another one is LinkedIn outreach scripts for recruiters and adjusters, four ready to send DMs designed for nurses, nurse housing, ALE, and corporate mobility partners to help you meet, help you book meetings faster. Like it's a lot of stuff that it can do because what it does is I pay, I ain't gonna lie, I pay for the $200 a month version of Chat GPT. It gives me access to everything that's going on in the short-term and midterm rental space. And it it knows all about ALE, insurance vendors, healthcare staff and hotlines. It's so good now. I went to the other day, I had it go and find the top uh um nursing staffing agencies in central Arkansas and give me their email and phone number, put it in our database, and we send them an email. Like it's yeah, it's pretty powerful, man. Especially for like go ahead.
SPEAKER_01Has it landed you some big uh contracts?
SPEAKER_03This one, we just started it, we haven't gotten anything, and it's healthcare, that's like one of our later on down the lines, it hasn't, but like for insurance, oh, it hits all day. Yeah, whenever they come through, we usually are one of our uh emails, that's how it gets blasted out from one of our emails, man. Yeah, it it it it's it's crazy, man. It's crazy. Like they even have insurance and ALE vendor contact lines, who to talk to, like bro. It's it's I tell people use it as much as you can, especially like chat GPT pulse is huge, and Atlas. Those are two of the things that are coming.
SPEAKER_01Yeah, I need to get oh well that's the thing. I I have my I share the chat GPT with my team, of course. Yeah, I'm cool with them. I'm the type of CEO, hey, I don't care how the job gets done, as long as the job gets done. That's that's me, that's my philosophy. But and that was another question I was gonna ask you. What is your biggest strength as a CEO? And then after that, what is your biggest weakness as a CEO?
SPEAKER_03My biggest strength is innovation. Like I'm very innovative, I'm innovative. Uh, I love like the AI, I love tech. Um, so that makes my business very innovative. My biggest weakness sometimes it costs too much,
Biggest strengths and weaknesses as CEOs
SPEAKER_03but I'm still paying it. So I gotta start, I gotta start trimming fat because I have to learn. I need a CFO. That's honestly that that's my biggest week. I'm not a good CFO.
SPEAKER_01Hey, make ChatGPT your CFO.
SPEAKER_03Definitely good. Um I'm working on that too. I'm working on that too, because it's things that I it's it's some fat I need to shred from the business that I'm working on. Because I'm working on that too, because I I I even upload my profit and loss to them every month. Like, hey, we're profitable this month, and at the end of this year, it should have a full data, full year's data. Okay, where do we need to cut? And just hey, I have it act as a chief financial officer, tell me where we need to cut. We go from there. Yeah, it's some cool stuff with it. Um yeah, how about you? Your biggest strength.
SPEAKER_01So my biggest strength is um is teaching and allocating, like teaching teaching some like a VA or whatever how to do something, and then letting them do it, trusting them to do it, you know. And so it's it's hard, you know, it's hard to do, especially, you know, when you're when you're in the beginning because you you're watching every penny, you're like you're scared to to let them make a mistake. Yeah, that could be my rent, man. Um you know what I'm saying? But the the fact that I was able to allocate and let them do things and learn on the job and and uh make mistakes and stuff like that, it's made my life a lot easier in that regard. Because I don't even have to do very much anymore. I mean, I mean, I follow the business and stuff, but I just I really don't have to they they know how to do everything way better than me, and that's and that's cool. Um biggest weakness, I wrote this down. I mean, I'm sure I got a lot of weaknesses. I I guess I take on too much at one time. A lot of opportunities that come my way. I take on a lot at one time, so I'm always juggling a bunch of things that are coming my way, and I can't, it's hard for me to say no. Because I see like the positive, I was like, oh man, if I land this house, if I land this management thing for this person, you know, and then some of them I'm like, I already uh I'm getting better at it. That might be a strength, though, bro. Taking on too much stuff.
SPEAKER_03It may be a weakness, kind of, but I think the strength in that is you're able to see the positive. Because I think whenever you're able to see the positive in things and you're focused on the positive, only more positive will come. Yeah, yeah. You know, but I mean I I think it might feel overwhelming in the moment, though. I think that's what it is. It's overwhelming in the moment. Is that what it is?
SPEAKER_01Yeah, yeah, big time. Because then I can't focus on one thing because I'm juggling too many things. That's that's that's my biggest weakness, you know.
SPEAKER_03Oh, so then the delegation thing kicks in. If you delegate it all of it or some of it, then it'd be easier on you. Okay.
SPEAKER_01But I still have to like when you know a potential client wants to talk about us managing something for them, or uh a primo arbitrage comes up, or a house that I'm gonna buy, you know, I'll probably just try all three things, you know, and that should maybe I shouldn't, but it's just like, oh, it's it's all good opportunities to me. What I have been a little bit better about is is seeing sensing when a client's not gonna be a good fit, you know. It's great to take on a client and get paid, that's always good, but how much is that that one client gonna weigh your company down?
SPEAKER_06Man, that's good. That's good to know.
SPEAKER_01I'm perfect at it, but I'm learning okay, this particular person, they kind of know what they want to do, they kind of don't know what they want to do, they want to try corporate, but they don't want to do Airbnb or vice versa. And and they they're gonna get the house, they're gonna furnish it. And it's like you then you have to deal with all that, and it's
Sensing bad-fit clients: HOAs, no pets, the checklist
SPEAKER_01like an uphill, oh man. It's uh it saps your energy.
SPEAKER_03I'm happy you said that because I I I'm I'm I now have a checklist. Like if you're in a HOA and you can't do Airbnb and midterms, I'm just not gonna take it on because I don't want you sitting empty for a long period.
SPEAKER_01That's that's exactly it. Because then you don't want an unhappy client, then that weighs on you.
SPEAKER_03Because right now I have someone who's been empty for about two weeks. However, that they won't allow pets. They can't do oh yeah, that no that's yeah, see that they won't allow pets. They have a fence yard, but they don't want pets. They are in a HOA, so they really have a minimum that they're supposed to be doing 30 day minimum, or yeah, we're skirting it by doing allowing for like seven-day minimums, but it's like yeah, man, you gotta know the clients. Like, if it's if you're in an area where short term's allowed and we're focusing on midterms, I can work with you all day because I can make you profitable. But anything other than that, it's just like you know. So, and it's just tough. But you have to know who's for you because that that's how you pumpkin plan your business, right? Who's for you? What's for you and what's not for you.
SPEAKER_01Yeah, yeah. And and and we've we've talked about it on this show before, about um when we had Jesse on, you know, Jesse Vasquez, yeah, and he says, you know, he don't do any short-term rentals, just 100% midterm. Yeah. And it doesn't matter if you can do if a place allows short term or not, because he's not he doesn't need to fill in his calendars. I'm like, uh I still want the I still want the opportunity to fill it in with short term when I when I can't get a long-term booking, you know. But I mean, because why why limit yourself?
SPEAKER_03I agree. And it markets huge too, man. What market you're in? See, we ain't in a market where we just have well, I don't know. DFW, you can get you can get real close in DFW. Um, but yeah, I I still like to have those short terms as well.
Jesse Vasquez's 100% midterm model - no short-term backup
SPEAKER_03Like I need some short term to cover a vacancy or you know, and then like make it so you can make your mortgage, you know what I mean?
SPEAKER_01I'll tell you, I'll tell you something that so I just started managing for a buddy of mine, right? Okay, these are like our best friends that we have here in the area that we have. Me and my wife, we have our best friends. Shout out to Fabi and David, but anyways, they moved up to Carrollton, right? Okay, and the house they left behind is in Grand Prairie. So, yeah, so it's over there, you know, off 20 and Carrier that way. And I like that area. I have houses in that area. I like it, that's great. And um, it's a good area, good houses. Their house is nice, furnished nicely, and so they
David's house tour surprise: $5,100/month Sedgwick booking from the garage
SPEAKER_01pretty much left everything, most most of the furniture behind, and they switched out a few things that they took with them. But um, they asked me, okay, we're gonna we're gonna ask you to manage it for us, please. And so, yeah, yeah, it seems like it'll do good. Um, they said, Can you get mostly corporate? You know, they start saying, you know, I'm like, well, you know, I'm gonna try. I'm gonna try. Nothing's guaranteed, but when I can't, I'm gonna put Airbnb. I don't want it to sit empty, I'm gonna put Airbnb in there or whatever. Uh short, shorter stays, and they're cool with that. So right off the bat, I got a uh like a stay for a week, you know. They were they were cool with that. And and because they we it just went up and running like this past Thanksgiving, right? And so, and then um we got another book in, but it was like gonna be like seven adults, and they're all in like 60s and 70s. I know it was a weird booking. I was like, eh, I don't know. They're talking about a family gathering, family reunion, and I was like, I don't want to right off the bat start having parties at my buddy's house, you know what I'm saying? So we turn I saw them, turn it down, turn it down. And then the next day, we got a call, or you know, Manu, like I said, he handles the the corporate side, he got a call right. Away. They need something in Grand Prairie. They want, you know, this many bedrooms, all that stuff. You know, the criteria that that would that have fit. And he um and they said, and they said, Yeah, we got one that's available now because you know, I try to keep my my places filled, right? So the only house that was available was theirs because we just got it up and running. And um I hadn't even got the the permit yet. You know, I was gonna start the process to get the permit, right? For short term. And um, but I always kind of you know list it first and get the permit, you know. You know, get some traction a little bit. And and then um so they they they said, can we see it right now? I think I think the the corporate company was sedgwick.
SPEAKER_06Sedgwick, yeah, I'm not sedgic.
SPEAKER_01Yeah, yeah, we've dealt with them before. They're great. So that I like the speed, they're they're fast, man. And so they um can we can they see it right now? And luckily it was cleaned and ready to be viewed, and um, and they said we said, Yeah, yeah, yeah, you can go see it right now. Here's the door code, you can do a self-tour. Anyways, so my buddy David, he he just learning how this stuff works, right? He didn't tell me he was going by the house.
SPEAKER_06Oh man.
SPEAKER_01He knew it was you know, he knew it got cleaned and turned over, and we didn't have a guest yet. He knew that much because I was you know for informing him. So he went by the house without telling us, and um I it could have been bad, it could have been bad, could have been bad. I'll say it like that. But he called me up, he's like, you know, this after you know, about an hour 30 minutes, an hour after, you know, they were gonna go see it. He said, He said, Hey man, um, so there was a tour today. It's like, yeah, how'd you know? He's like, Well, I I forgot I didn't tell you, but I went by the house to go grab some things from the garage, and then some people showed up to go to tour the house.
SPEAKER_04Oh man.
SPEAKER_01We told him no one's gonna be there, you know. It's a good self-tour. He said, But you know, I introduced myself and said, I, you know, I'm the homeowner, and they they're a really nice couple, you know, older couple. We talked, we had a lot of things in common, you know. And my buddy's a real people person, man.
SPEAKER_05Okay, good.
SPEAKER_01He used to be the guy that he used to work for like the city of Arlington to go um, you know, to bring business into the city, right? Oh, okay back in the day. So he was the guy, he was the guy to go talk people up, and he's a salesman, real good salesman. And so he he made a good rapport with them. They liked him, they loved the house and everything, and said, Yeah, yeah, the wife likes it. We like it. We want to we want to go ahead and move forward. He's like, All right, cool. I guess you're gonna talk to Steve because he handles the house, and you'll probably never see me again unless you know something yeah, the house, you know, I might have to come fix or something. Yeah, all right, cool. So it was it ended up being good, it could have been bad. You could have been dropping a deuce while they're you know starting the floor. Oh man. Hey, bro, you gotta you gotta let me know, man. You because it's not just Airbnb, we do tours, you know, we're always trying to get people in there, bro.
SPEAKER_03I have had that issue as well, man. People, no, oh man, I've even had that issue with the insurance company, bro. So in one of my properties, the the owner does watch the cameras a lot, right? She's gotten out of it now, but she she watched the cameras a lot. So we had this lady, and like talking to her on the phone, I could tell we weren't gonna, I'm like, she ain't a fit. Like she was talking about I told her, well, this property's available, and she had like something smart to say about everything. Oh, I don't like that property. That property used to be good, but I just don't like that neighborhood. It's just going downhill. People don't bring their trash in, stuff and I'm like, okay, I'm like, she's gonna be a complainer. But we ended up sending her to this other property. And when she goes to the property, she we no no we didn't send her to the property. We had just told her we had another one available, and I think she found it because we ALE or one of those companies has them has it in their database, and we had somebody stay in there and that the per the property wasn't empty. She went over there, bro. Like, she went over there, tried to get in. People weren't there, luckily. And then, like, I figured we looked at the camera like afterwards, okay, she can't get in, she'll leave. She starts walking around the back door, like basically a backyard, like crazy.
SPEAKER_02Like, bro, what are you doing? Like, we're in Little Rock, Arkansas, bro. Like, somebody will shoot you for some crap like this, right? So she starts walking around the back, and then like I'm like, okay, well, maybe that was the end of it. She goes, No, she went through my mailbox.
The mailbox-rifling guest caught on camera
SPEAKER_02So she has it on camera. Like, this woman's going through her mailbox. I'm like, what the f this lady, bro?
SPEAKER_03So, anyways, I think I forgot what company it was. I don't even want to put the company out there. The company was like, Hey, the lady toured it and she liked it. And I was like, Hey, I'm gonna let y'all know we just can't house her. She went to the house unannounced. She like started taking stuff out the mailbox. They were like, Are you sure? And we sent her the video, she was like, Oh my god, I'm so sorry. I'm like, Yeah, we can't house this lady. So, some guests and some owners all the strip, but I'm that time I'm happy the owner looked because I'm like, that could have got bad. Like, you went through people's mailboxes, bro. Like, yeah, bro. So it it's some people just like, bro, what are you doing?
SPEAKER_01But yeah, and so man, that's crazy. But but oh, the the so the end of the story of the you know, the the could the good part of the story is so they did like the house, they wanted to move forward, and so he asked me, I said, Okay, cool, you know, they're gonna send it to the adjuster and say they like it, you know, see what they say. And it should, it should they said they told us it should be an easy approval. Okay, and he said, Oh, cool. How much am I gonna get a month for this? I said, you know, you're gonna get 5,100 a month for this one for eight months at least, and then month to month after that. He's like, Are you shitting me? He's like, he's like, Are you oh my god, he's like to him, you know, this is a lot of money, you know, it is pretty good money, but you know, I had I had I had told I had told Malu, you know, to set it up at 6,000 or 6,500 initially, you know, it gives us some room. I but he set it up at 5,000 on the on the Zillow. And um, I was like, that's cool. You know, we you know it's the first booking, that's cool. And so and they and they own the house, so their mortgage is is is lower than as someone that's gonna arbitrage it.
SPEAKER_06Oh, they're winning all day.
SPEAKER_01So they're the to them, you know, I don't know what their mortgage is, you know, maybe thousand, maybe fifteen, but to them they're making this huge spread instead of you know what you can get in that area for uh for uh three, two, probably twenty-two to twenty four hundred bucks a month, you know. So they're making double, you know, and then
Eight months at $5,100 - owner bragging at his 65th birthday party
SPEAKER_01the hundred bucks was the pet fee, so five thousand and one hundred a month for the pet fee. And um, so they're like over the moon. And we had a we had a party like at his house the a few days a couple of days later because he turned 65. And he's he's just bragging me all over the room. Oh, Steve, he got my house rented for 5,000 bucks a month and this and that. Because you know, a lot of a lot of people had rental houses in that neighborhood in Cariton, you know, they got some some toity to oh man, you know, I didn't talk to you about my rental houses and this and that. I was like, I was like, all right, you know, it was a good one as results aren't typical, but we try, you know. I'm not gonna get someone in there, hey man, where's my five thousand dollar booking?
SPEAKER_04You know, yeah, people get that, yeah, yeah.
SPEAKER_02Yeah, man, you you you got Terry booked for five thousand.
SPEAKER_01I've had that. For real, I've had that, but but the thing is, um, it's a house fire, was what they had. So that so it's eight months at least, and you know, if you've been if you've ever housed uh someone that's been through a house fire, I've had them there uh over a year, same here in one of my places because it takes a long time, man. Yeah, for real.
SPEAKER_03That I've had that happen too, like had them over a year and they're paying like four or five grand. Like, we have one dude, he's been there for nine months paying 5300. And I'm like, damn, but insurance covering it, man. They like, hey, like we thought they were gonna be out last month. He's like, hey man, we need another extension. I'm like, oh, and I think they're gonna extend it. I'm gonna be another's another thing, like house fires, insurance claims. They're good to have around the holidays because most of them people ain't working like Thanksgiving, Christmas, and it pushes back timelines. So you're probably going to go well into the first of the year, just a little heads up for y'all.
SPEAKER_01Well, that makes sense, right? Now, the money can run out though from the insurance company. Oh, that has to happen. That happened. Money is a couple of times, you know. Okay, what happened now? And I think it's all state. I think all states is the worst in insurance to have. But um, but yeah, I mean that situation, the guests that were staying there hit us up directly and said, Hey, you know, the money's already, they said we're gonna have to be out this month, but our house ain't ready, you know. They still got a lot to do. Can we pay you directly? And so that's when you kind of work out a deal with them. You know, they can't stay, you know, it's still you're still gonna make good money with them. You're not gonna get that 6,500 insurance money, you know. I'm saying, but you still can make a decent amount of change, and and so I've yeah, I've done situations like that where I've given them a discount because I'm dealing directly with them and they're they're going month to month after that.
SPEAKER_03Okay. Now, like a question on something like that. Are you verifying their income?
SPEAKER_01That's a the the times I did it, no, I did not. I did not. I did not.
SPEAKER_03Um I mean they should have it. Hell, you ain't paying your mortgage right now. I mean, I don't know. I was wondering that because like I I have not I know I have had that happen before. But then they ended up getting an extension. So I don't know if the money might have been coming directly from them. I I don't know. But yeah, I was wondering that. Like, do you verify their because just because they got a house, you know, but that that's a good that's that's
PadSplit reality: feces accidents, health issues, and cleaning bills unpaid
SPEAKER_03a good scenario. Yeah, people should be aware of that because then you also have to do, are you gonna run a new background check on them too? So it's it's interesting. But I did have one thing I definitely wanted to talk to you about that stood out to me.
SPEAKER_04Pad split. What's going on? Oh man.
SPEAKER_01Oh, this is good. Hey yeah, you know, that's the thing, man. This is more high maintenance than a lot of stuff because you know, because the clientele you're dealing with, not all of them, some of them are just stay in the room, you never hear from that's cool. But there are some vocal ones, and there are some ones with issues. Uh and there was a guy there that he should he should have been in a assisted living place, right? He shouldn't be in a PAS place because he's really, really big and he had health issues and stuff, hard time getting around. And um, what kept happening is he'd have accidents in the bathroom and leave feces on the seat on the floor. It just started, it happened a few times. The other, of course, the other pad mates are like, Man, the whole house is messed stinks because you know he's doing that, and I'm sending my cleaner out in the middle of the night to go, you know, get that stuff cleaned for them, and they're trying, you know, I'm about to pay him. And of course, I'm I'm I'm sending all this receipts to Pad Split. I ain't got a penny from all these things that are happening yet, man. That's the thing. I'm sending all this stuff, and um, but yeah, he just had kept having issues with that kind of stuff. And I said, bro, you I said, Man, you gotta go because the people are like, We're gonna leave. If if he ain't leaving, we're gonna leave because we can't live with this, you know. And then we they said we want to have a nice Thanksgiving together, you know. Some of them start becoming friends and stuff, and he goes, and then the house is gonna smell like you know, crap, his room stinks, and you know, it's uh he should be in a in an assistant living facility. You know, he ain't that old, he's probably around uh 60, 55, 60. I don't know. He ain't super old, but he just has some health, big health issues going on.
SPEAKER_03Um yeah, he should he should be able to get like a he should be able to get like a care, health care, um you know, mahogany jobs he can get stuff like that for people who I don't know if he fits the age criteria, but yeah. That's crazy. I didn't think about it.
SPEAKER_01He was on social security disability, that's what he was on. And and um and I talked to him and and he he was a nice guy. He just had those health issues, man. And he said he'd been in a home before because I guess his son put him in one and he he left it because he just couldn't deal with it. That's why he started this PASPlit thing. I think I was his first PadSplit experience, you know.
SPEAKER_03And I'm gonna be real. Remember when we first you first started doing Pad Split, and I said, and I was wondering, I said, with this being such a unique model right now, and a lot of people are after it because I one of the things you did touch on in the notes was affordability in the US right now, right? So affordability sky high, and you got people that are needing cheaper places to live, so Pad Split fits, right? However, who are exactly are we housing, right? And I think Social Security was one of them. You know, um, and it goes back to the old adage I said I think on the last podcast the higher the cash flow, the bigger the risk. Because now you're hiring hiring having people that you know may be a little bit more vocal, may have health issues. Because even remember we were talking about the halfway houses. By the way, that video we posted about the halfway houses went crazy on TikTok. Like we had like 10,000 shares, 7,000 likes, and like hundreds something comments on that video. But the comments that were coming in were people that have halfway houses. Some of them, my dude, them dude was like, Yeah, man, my uncle got three or four halfway houses, he's balling, but you got to deal with some stuff. Like, I was like, oh, but I was like, man, I want to get your uncle on a podcast because I want to hear the people that have to deal with the extra stuff because we are now getting in a situation in America where affordability is hard. So people are gonna get creative, and now when you start having pad splits, and I've even heard Brandon Turner talk about pad splits, he goes, it is a lot more maintenance, but he's completely hands-off. But I mean, how much money is that costing you? You know what I mean? Sometimes being hands-off in a situation like that
Real World tribalism - roommates teaming up and snitching
SPEAKER_03can cost you money, and you start looking at financial statements like, damn, we got to make a change. So, yeah, it's it's interesting. I was wondering about the pad split. So, what are your ending thoughts on are you going to continue it or how is it looking for you?
SPEAKER_01I'm gonna stick with it. It is still the early stages for me. Okay, it's making good money. It is um, there's other situations that are happening too. I mean, it's here's another thing. Okay, it's it's I guess it's human nature, yeah, but the tribalism starts happening in those past splits where this group over here don't like this one person or this, you know, they start teaming up on each other, you know, like the MTV Real World back in the day. Survivor Island shit, man. And then I'm getting these phone calls, and I'm like, I don't know who to believe, and I don't care. I don't want to hear all this. I don't have to deal with this when I'm doing corporate and stuff, you know. It's just a different animal because it's people living together.
SPEAKER_03Have you have you figured out how to like have your team start taking over those challenges, or is it coming directly to you?
SPEAKER_01Now, with these two houses, remember I told you I wanted to learn this the ropes myself. So they I spoke to them in person and they they got my damn phone number. That's the problem. Because that's yeah, yeah. But the next pad split, they no one's getting my phone number, they're getting the the virtual assistant's phone number, and they're gonna deal with it. Now I I can show them what how to deal with situations like that.
SPEAKER_03Now, um that's where hey, that's where AI comes in, bro. It will tell you how to do that. Like, hey, I got this pet because AI knows a pad split is. Hey, I got this pad split. This is the situation. You can have them take care of it, man. Then have have your uh VAs do the AI. But go ahead, I don't want to hear the rest of this. This is good.
SPEAKER_01Yeah, you know, but it is you know, unique situations, and it's not it's not it's not something like uh Airbnb. You know, it's not you're not dealing or or corporate or even long-term rentals, it's a totally different beast, man. And so that's why I'm trying to learn, you know, I've I've learned what to do when someone starts busting busting out windows in your house. So I learned I learned what to do when someone starts pooping everywhere. Um I learned what to do when someone's uh the total tries to be the house manager and start you know snitching on everybody and getting everybody kicked out. It's so much different. There's so many different things, man. And and so I you know it's hard to just say, okay, this is how you deal with this these situations. Um dude, it's it's it's different.
SPEAKER_03You know what's funny. Um maybe pad split. Because you know I used to rent out rooms in my house, right? I rented out the three upstairs rooms and we never had any issues. However, we were on site.
SPEAKER_05Yeah.
SPEAKER_03Maybe pad split should make it so you can have one at reduced rent who's like the pad split manager of the house.
SPEAKER_01And there there are people that set it up that way. And they pay they they pay him a little bit uh or they they take some, yeah, like you said, take it off the rent. And then they, you know, have them be the then clean the common areas, make sure everything's good, and then make sure everything's everybody's acting right at the house, you know. Um yeah, that's a strategy. Okay, it is but um yeah.
SPEAKER_03What are your pros and cons against that? For or against it?
SPEAKER_01I guess finding the right person because you're I'm just meeting these people too. You know, what if I put a crazy Karen in charge because I think, oh, she sounds cool. Is she gonna take and then she's just in everybody's shit? You know what I'm saying? Which I'm tired of dealing with that right now, but luckily she's heading out, she's heading out this Sunday. So, so um And how long does it take you to get people out? So you put a uh four you they get a 14-day notice, that's the minimum, right?
Pooping everywhere guy versus the window-kicking psycho
SPEAKER_01When you hit that 14-day notice button for them to vacate, passplit will say, Well, you should give them at least a month, you know. It tried to convince you to the bot tries to convince you, hey, maybe uh 30 days is better. And I said, No, get them the hell out. Uh so that now that's the pad split. That's the pad split notice to vacate. It ain't nothing backed by law or nothing. That's the thing. So if after that 14 days comes and that person ain't out, then you gotta do your own getting them out. You know what I'm saying? You gotta go put your three-day notice and do the whole eviction thing.
SPEAKER_03But they get kicked off the pad split platform if they don't get out, right?
SPEAKER_01Exactly.
SPEAKER_03Okay. Okay. Because yeah, they would need somewhere else to stay. Okay.
SPEAKER_01Yeah, but I hear I hear um it's easy for a lot of these people to start to get around all these uh getting kicked off of platforms, even getting evictions. There's people with evictions that are getting by, you know, we've known that forever, that are getting houses. Well, people getting houses with evictions on them because they're using uh either stolen or borrowed information to get into these houses, you know. That's the thing. And I think they can still they can do that on on things like Pad Split and Airbnb. Well, Airbnb don't care if you got an eviction.
SPEAKER_03Yeah, they don't care if you got an eviction. As long as you ain't got no felony, they they'll they'll kick you off if you got a felony, but if you've been evicted, they come right on in. But you know, I don't know. That that's crazy though. I didn't know. And you know, I I listened to Brandon Turner's podcast a lot. He did say that. He said, you know, it is a little bit few more issues on pad split, but he didn't go into depth like you're doing. And you know, um because he ain't managing them.
SPEAKER_01I know he ain't managed them. You don't have time for managing a $700 a month pad split. Yeah.
SPEAKER_03And you know, he's not, but it made me think like, okay. And then that's what it went back to is like whenever you start getting into housing, split housing like that, what type of guest are you running into? Because even when I have a house I house hacked, there were certain guests I didn't want around for a long time. Like I'd be like, eh, this person uh I'll you should probably stay a month and leave. So it you know, you do have those, like my best guests were like students, people that needed to go that are in like school and need to go to the therapy school up here in Arlington, the sports science people. I I love them. They were the best ones. Um, they were busy, but yeah, it's interesting.
SPEAKER_01Yeah, that's you know, and I thought about the next Pad Split house just and trying it off the pad split um platform and and going that route, putting furnish only furnish finders or Airbnb stays in for each room. I'm thought about trying that because I have a buddy that does that. He don't do pads split, but he rents by the room up there in Dallas and he he keeps them filled just from Airbnb and Furnish Finders.
SPEAKER_03Man, I I was thinking the same thing too. Like when I used to do it on Airbnb Buy Room, man, I never had issues, but because they get rated, right? Yes, but I never had issues. My my most issue guests were when they came in off-platform by the room. Yeah, buy the room, they're very low maintenance because you're looking at a certain that demographic, like on Airbnb, a buy-room rental, that demographic, they're just looking for a place to lay their head. Most uh, but you do have to tell them, like, hey, you can't have company, you can have a max of two. Now, whenever it's two, yeah, you're gonna probably have issues with the other guests, like if it's a male and a female and they gotta do the do, and it's people, you know, like hey, they're a little loud next door. You know what I mean? We've had that guy. Now we did have a guy who was I'll just say he wasn't bringing his wife with him, but you know, we had one of those. So uh yeah, so it's certainly.
SPEAKER_04Oh man.
SPEAKER_03So it it's it's certain things you do deal with, like, and this is for everybody listening. Whenever you get into high cash.
SPEAKER_01things there are greater risks so you do have to there's gonna be a bigger vetting process but I think with Pasplit I think once you learn how to odd delegate everything to your team I think it'll be it'll work out I mean you're gonna have some issues I think you're seeing that goes okay
Brandon Turner's PadSplit model - hands-off, but at what cost?
SPEAKER_01you know how we were talking about automating everything to AI you might have to you might can't do that because you have to get them to learn Pas split but you can use AI to you know how to help you with issues but yeah stuff like that you probably need a few human human like to take those phone calls hey this person's pooping over here this person's busting out windows you know what I mean so yeah it's that's that's a tough one man and you can you can rate the members right you can you can put it you can rate them and you could put things about them right and and that but here's the here's the thing with that it's a balancing act because because you know I have a uh one of the pad mates yeah this guy's pooping everywhere blah blah blah and then I I go in there I have to because he keeps doing this I have to leave a uh in order to put the notice to vacate it's asking me why and I said he's you know and I was truthful this guy has health issues you know he's making messes in the bathroom blah blah blah and but the thing is when he puts in for another place within that 14 day period they're all getting denied because who's gonna want someone that's pooping everywhere you know I'm saying that's the thing you try to be honest and you try but no one else is gonna accept them and then next thing you know they're off the platform he went ahead and left early he took off early but um but yeah so so when you do rank someone um the I guess the good part is as a pad split um host I can go in there and see all the reviews on somebody and it's funny because the one busting out windows that had the crazy you know mental problems all the recent reviews the ones I saw I didn't know there was a page two you know the way the the thing was set up all the recent reviews oh he's great great great guest great blah blah blah great pad mate blah I went when he was when all these issues would happen I went back and looked at those reviews again and I hit oh I hit page two which were older reviews it was those same mofoes that were his roommates left like all this crazy stuff this dude's crazy blah blah blah he's doing crazy stuff but I guess they decided or the or the host was like hey man you gotta start leaving some positive reviews to this guy or he's never gonna leave so then they started leaving these fake positive reviews and then so the next host would read them and say okay I'll take him on you know what I'm saying so the same guys that was complaining on him changed their tune and the they left glowing reviews right before he left so okay so so this is where Pad Split might have to work out a little bit better. So like okay we're gonna leave fake reviews for this guy but we've left bad reviews right so okay so if we leave a bad review meaning he won't leave because no one else will take him
The fake positive reviews scam to get a problem tenant out
SPEAKER_01uh yeah because yeah because he'll they'll see the they'll see the bad reviews yeah that's some BS because hold on now let's say you've already given him the 14 days right and he's getting denied denied denied he still has to be out right well he has to be out but then if if that 14 days comes and goes I have to put the three day notice for to vacate I have to I have to do that. That's just a that's just a pad split thing that 14 days that's a passplit that ain't that ain't no legal binding or nothing I have to go put the legally you know three day notice to vacate through you know send it to the courts all that crap you know if I want him out out out and he refuses to leave I still have to evict him how okay what's your average stay on pad split let's let's do more realistic what was the crazy guy's average what what was how long was he there for uh let me see four or five months he was supposed to be there for four or five months no maybe like maybe around three or four months I don't know something like that okay and he started acting crazy yeah how long into the state did he start acting crazy he was acting weird at first right he was actually the first guest of that house he started he'd walk around the you know I'd see him on the cameras and look like he was walking around in draws like like you know boy boy short draws and without a shirt and I was like dude what do you I say I was like man can you know we got neighbors can you put some clothes on please you know he just he just one word answers he'd dude was weird I started noticing that right and then then we started getting guests and um I guess the first thing he did was kick out that under the sink he kicked out that um the cabinet door under the sink that was the first thing you know and and um and so that's and then he cussed out the the group quit touching my shit that you know that was that was his first like whoa what's this guy up to man okay so I guess what I would think you could do could you just issue 30 day notices every 30 days maybe like put something in there to protect you like hey um hey we know this is pad split or whatever just in case it doesn't work out we're gonna issuing a 30 day notice in case it doesn't work out with I would want to say with their behavior I'm pretty sure we could get chat gpt to write something up what I'm learning yeah what I'm learning is to just if something's if something's wrong with the guests because I you know even with the guy pooping I was hesitant to get him out because you know you know I felt bad he's a cool dude and he just I just I thought okay maybe it was maybe he's cool now maybe it's gonna work you know I I hesitated I hesitated with that crazy guy and it just got worse and worse. I hesitated with this guy and it got worse and worse. I was like once you start noticing crazy behavior hit that 14 day button because at least it'll start the clock you know I'm saying and then you can deal with what you got to deal with if they don't leave.
SPEAKER_03Okay this is what I'm saying though let's say you start that 14 day clock but they don't leave so couldn't you protect yourself and you have no 30 because in Texas 30 days right 30 days?
SPEAKER_01Oh you're talking about lease for like a lease well to evict somebody um no it could take months it could take months to get someone out yeah so I'm saying how could could you protect yourself immediately by issuing a 30 day notice along with the 14 day well you do the three day notice first three day okay you the three day notice first three days and then they have and then if they haven't left in three days then you file the eviction the official eviction with the county but you have to show them proof that you you you put the thirty day the three day notice on the door and the blah blah blah yeah you served them you show them the camera you sure you served them and then you start the official eviction process. Now how how long it takes for them to get to your eviction that's it could be different man like Dallas County it took three three four five whatever how many months you know Tarrant might be might be quicker you know so so it's just depends uh on the county but but the thing is now with crazy guy the first guy that was like worried about him doing you know hurting somebody I didn't I I said that this 14 you know I talked to the the people at Passport I said this 14 day thing is is bullshit you know I want him out today you know he's doing stupid stuff well he goes well you can serve him the the three day notice and um and then go that route and so I did I went there and served that three day notice you know to him because I wasn't going to do the whole 14 day thing. I mean I I clicked the 14 day button too but I said
PadSplit's last resort clientele and personality quirks
SPEAKER_01this is I said that 14 day don't mean nothing I this is a three day notice you got to be out oh but the passport says I got 14 days you know he was he's kind of like they like think that passplit's the law no this is my house I'm the I'm the law you gotta kind of you gotta kind of tell him that you know and and and so I mean he ended up leaving I think he he stayed like a couple days after that three day notice you know he said I just gotta you know get my stuff blah blah but um I mean it could you could get you could get somebody that's now here's the thing too this is like pad split's like a last resort for a lot of people if if if they can if all they can do after they burn so many bridges is rent a bedroom out somewhere you know that's they really don't want to mess that up and they get kicked off a pad split then they're kind of screwed I was thinking that too because I I felt like when I remember I kept asking like what kind of clientele maybe it is serving like the last resort clientele like the guy who you know hey I just need a bedroom you know it's certain a certain demographic no I I will say most of the guests are great. Yeah I I would think so I've had those two you know well the crazy guy is the worst and then the health issues guy that's you know his health issues stuff he's not correct you know hurting nobody and then the other house uh you got a bit of a Karen over there trying to uh run the roost you know and then in every in everybody's stuff so that complaining all the time to me it just sounds like Pad Split it's personality quirks that are the biggest issue yes and you know it's personality quirks well the one that that like I said the the the kind of Karen one and it's funny I always think what I wonder if they listen to our show but the the kind the crazy care the cra the Karen ish one I'm not saying maybe she's cool whatever but when she when she put in to get to come into that to to rent one of the rooms at my house right she like I I the red flags were kind of there I was she was like yeah you know I just these run these roommates you know they don't respect anything they just they leave messes and they don't they they're up all hours they're they're bringing people in you know the the owner of the house you know kind of had me looking over everything and this and that and um but I'm just I put in my notice today I want to I just need a place I need a place and and and I'm I'm a good I keep my place clean and blah blah and so I got this I got I had some red flags come up like oh man she's already complaining about everybody in the house so everybody's bad one of those people that you know at work that complains on everybody you know say you know that's I that one person that just everybody's a you know out to against them out to get them I had those vibes really really strong you know because I've known people like that and so sure and sure enough I mean she's she hopped around rooms she started complaining on other people in the house and just who it was as and but she she's leaving you know she's leaving but um yeah so that's like a whole different thing is is is that I'm I'm you know I'm learning this there's different personality types like you said and I think that's I think like once you get I think that's where you're gonna get really good at Pass Split is figuring out like even like the lady who was saying all this how old is she um about you know 47 48 somewhere around there.
SPEAKER_03See that's what I was thinking could you have a 47 48 with these younger kids 20 something you know maybe you have to start kind of like grading like seeing I don't know are you even allowed to put like an age limit on them because maybe that's that discrimination you're not supposed to no now now here's the thing with Patsplit anybody can request to stay at your house and you can deny them without even talking to them.
SPEAKER_01So you don't have to give a reason. Now if you go in there and put a reason say oh they're too old or they're too young or they're too whatever then that's could get you in trouble. But it you'll hit no deny and they'll ask you why oh I don't feel they're a good fit or you don't it's something vague right and then and then boom you're denied somebody now yeah if you start talking to them and stuff the same thing you I mean I still want to interview people right if they if I think they're a good if I know they're not gonna be a good fit you know I just deny them immediately. If I think they might be a good fit then I'll talk to them one-on-one and just get a feel for them right and I can still deny them and I don't have to say I don't have to say anything right I just say oh you know it's not available I don't know whatever you want to say and and um so yeah there is a discrimination stuff but you can deny anybody you want okay and then like what are you so like they kind of send like a profile of themselves so you get to see their their driver's license I guess just like when someone applies at an apartment complex also you can't judge them off race and all that stuff I'm not saying I I'm not saying us we know but like if you you know
Young men are the best PadSplit tenants - construction crews complain least
SPEAKER_01someone could okay that's what I was saying because because you know remember Airbnb started getting in trouble for that and that's when they start hey no fake you know so you could okay you could if you if you wanted to um I will say most of the most of my my pad pain pad mates are are minorities. I will say most of them are minorities.
SPEAKER_03So I I just I talk to them and get a feel for them you know I'm saying yeah and and then um and go from there okay I was wondering because I'm like I haven't done pad split but I'm like listening to what you're going through and I'm like man because I had to kind of start doing that when I was doing my rent by the room like hey what are you coming for you know where are you at? Um and then a a lot of them the issue I ran into too is they would try to ask hey can I book off the platform and if it was from Airbnb I'm like nah I I made them that back then I I'd made them stick to Airbnb. But honestly if for rent by the room and I'm living there I would definitely stick to the platform like hey no stick to Airbnb. So if something goes wrong I could just cancel your reservation you know what I mean but yeah it's it's it's I think everything's it's just comes with different challenges you know and I think finding that happy medium with personalities that can be tough and then like the age thing's tough too you know if she's older and saying all these people are young I mean they're young you know what I mean yeah oh and she was telling me whatever you do don't let don't let young men into the house she was like already telling me who would have to let yeah because they're the worst you know and I've had those to me young dudes have been the best so far the best uh pat mates they're gonna and that that's kind of what I was saying about FIFA they don't men don't complain like we ain't too much gonna complain the only time you see men complaining about Airbnb is if their wife with them let's be real let's be real let's be real their wives is with them their wives with them like the the easiest who's the easiest guest that's gonna stay a long time and not complain a construction crew is never gonna say nothing they like nothing for real they be like man your toilet's leaking man I went ahead and fixed it for you bro be like I'm undocumented don't even tell nobody I'm here hey I'm gonna shut the hell up you shut the hell up just pay me but I'm for real so like that goes back like that 20 like how you said those 20 year olds yeah they ain't gonna complain but they might bring a girl in or something you know what I mean so Karen's over there watching in the corner go mine your damn business but you know but you get those personality quirks man yeah it's a different animal man I'm telling you but I'm still I'm still learning the ropes and I'll let you know how it goes.
SPEAKER_01I might try one more and see how it goes I like the money the money's nice but yeah and I said that high cash flow man it comes with problems the more money hey what it what what uh Mr.
SPEAKER_03Diddy say more money more problems and you can see he got a bunch of problems but he is I guess we're gonna end this on a Diddy note but uh diddy note free diddy oh no oh man yeah well cool brother it's been a great show yeah man up where could people find us Mike find us on Instagram TikTok uh all that good stuff Instagram at live let thrive tick tock at live let thrive um by the way I'm gonna try to get some of that guest on about the halfway houses um but yeah this is a really good episode y'all thank y'all for the tune to listen to us know it's been a while since we dropped the episode but we are definitely here to stay and we got some more heat coming too so definitely stay tuned we are out peace later 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.
SPEAKER_00Bye bye
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