Cold open

SPEAKER_04 0:00

Are you ready to run your short-term rental business like a superhost? If still look no further than Guesty for Host. Guestie for Host offers listing management for all three major OTAs: Airbnb, Booking.com, and Verbo. With Guestie for Host, you can create a branded direct booking website in minutes. I've been able to hit 61% direct booking in my business and automate daily tasks such as communication with cleaners and communication with guests. Click the link in the show notes to get an additional $20 off your first month.

SPEAKER_00 0:28

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

SPEAKER_04 0:40

Hello, hello, hello, and welcome back to another

From San Diego firefighter to Idaho real estate full-time

SPEAKER_04 0:45

episode of Live Let Throw.

SPEAKER_02 0:50

What is up, Micah Man?

SPEAKER_04 0:52

I'm cool, Stevie Stacks. How you doing?

SPEAKER_02 0:55

I you know, constantly swimming in an ocean of overwhelm, but I'm becoming a better swimmer, I guess. So that's something. But that's just how I roll, man. How what's new in your world, Micah?

SPEAKER_04 1:07

Man, chilling, man, chilling, man.

SPEAKER_02 1:09

We at episode, we at I don't know what episode number 202 of your favorite Airbnb VRBO short-term rental podcast in the world coming at you from Arlington and Dallas and Fort Worth, Texas. It was Dallas the other day, but now it's Fort Worth. And we have a special guest, Michael Man. Who we got, Stevie Stacks, Michael Porsche. I like to call him Michael Porsche 911. You know what I'm saying? 911, my favorite Porsche. And who is Michael Porsche? You ask. Well, Michael Porsche is a short-term rental owner and investor, founder of STR Legacies LLC, and founder of Escape and Stay Property Management. Michael helps educate real estate investors on how to acquire STRs as well as how to self-manage their properties. Michael started off as a firefighter for the city of San Diego. He loved his job. It was his dream job. However, he quickly found out that he was sacrificing too much time away from his family to provide for them. So he asked himself, What is the best way to create passive income? This is when he discovered real estate investing, specifically in the growing market of short-term rentals. As an STR practitioner, nice word, Michael provides his coaching and education services to anyone looking to build their legacy through real estate investing. Your freedom is just one STR away. Welcome, Michael.

SPEAKER_05 2:37

Oh, thank you for such a warm introduction. I just try to hold myself together, just hearing you all get you know run off one another and just so much excitement. I just we've been doing it for a while, Michael.

SPEAKER_02 2:48

We've been doing it for a while.

SPEAKER_05 2:59

I don't know for the listeners, you can't really see, but um, this is my old fire helmet, and on the I carved in like a Porsche on the leather, which is on the helmet, which is more of my uh my signatures they call 9-11 turbo stuff funny.

SPEAKER_04 3:14

Uh you were a firefighter, yeah.

SPEAKER_05 3:16

I was uh I used to work for firefighter with the uh with San Diego City.

SPEAKER_04 3:21

Okay, thanks for your service, man. I because I ain't running, I can't run in no burning building, man. You know, I got to give you, I got to give you your props on that one, man.

SPEAKER_02 3:30

Oh man, see you did you stick with it kind of part-time, or you uh how are you doing it now?

SPEAKER_05 3:36

No, so I I stuck with it for I mean that was all I ever wanted to do and one, you know, wanted to work for, it's all I ever prepared my life for, right? But um, you know, it when I got married, and then when I had the especially when I had my daughter, it just everything kind of came forward and was like, hey, me being gone all the time, is that really worth it? So initially I moved out to Idaho um to buy a business to

Lost retirement funds in an assisted living deal

SPEAKER_05 4:01

get it up and running. It was a real estate business, but to get it up and running. And the plan was to move back to stay in the fire service. But we moved to Idaho, we thought this place was awesome. Like, hey, what the heck? Let's just dive full-time into real estate. So after man, after like nine months of commuting back and forth, like I was working two weeks out there in San Diego, and then I'd be home for two weeks. I was like, All right, I'm done. I'm gonna do this real estate thing full time. Damn, oh man.

SPEAKER_04 4:27

So you're out you're based out of Idaho.

SPEAKER_05 4:29

I am now, okay, a little bit Florida.

SPEAKER_04 4:32

Okay, so like what's your strategy? Do you arbitrage? Do you manage? Do you own?

SPEAKER_05 4:38

Yeah, so I'm I'm a big owning fan, so I got into it mostly in going into hey, let's figure out because I didn't have that much money to start off with. Um, I end up using a lot of the funds. I even pulled my retirement from the city of San Diego. I invested into an assisted living business, which did very well for itself within a year, but then I ended up using and not getting any profit from any of those funds. And um after the first year, and we ended up washing our hands of it. Um, but from that, I had to use the strategy of just I wanted I knew I wanted to own more property, so I wanted to invest by using other people's money um to be able to acquire rentals. But in order to do that, I knew I had to, you know, add value to that property and then refinance out of it so I can be able to pay my investors back. Um, so that was the strategy that I first utilized with, as well as just doing partnerships with people who had money and to do like 50-50 ownerships and stuff like that. The burr method, huh? Yeah.

SPEAKER_04 5:42

Right now, how many units are you up to?

SPEAKER_05 5:44

We're at six right now that we that we own. We own six units, um, and then we manage around like 12 or so as of right now.

SPEAKER_04 5:52

Really? Now, now, how did you now of those six? How did you go about acquiring those?

SPEAKER_05 5:57

So, all those, well, some of them were just direct seller. Um, I would cold call individuals and go from

Cold-calling sellers and flying to Marathon in the Keys

SPEAKER_05 6:04

there. Um, I started out in Marathon, even got to the point where I flew out to Marathon, which is in the Keys, by the way, Marathon in the Keys of Florida. So it's like those little islands and all whatnot. I even got to the point where I was flying out, writing up contracts, visiting all these sellers, um, just to hang out, get to know the area. Um, and a lot of those contracts ended up falling through. But my first investment was in Florida in the Pensacola area, um, besides my own home here in Idaho. But um, that was all through just using realtors, wholesalers, and Trek calling myself.

SPEAKER_04 6:41

Man, so you sounds like I mean you've so you only invest in like vacation rental destinations. Are all your units in Florida?

SPEAKER_05 6:48

No, so I have I have one here in Idaho. We're looking to expand and do a little more stuff in here, specifically in like um more of like the lake town areas, like tiny home villages out there. That's what's a project we're working on now. But I have a few properties in Florida, and then I have one in Virginia and manage another in Virginia.

SPEAKER_04 7:10

Okay, what's your oh go ahead go ahead, Steve?

SPEAKER_02 7:12

Oh, so I was just gonna say, is that a because you're saying cold calling and flying out and seeing people? Is so was being a firefighter a great way to get your foot in the door and talking to people?

SPEAKER_05 7:23

I'd say so, um, because it builds trust, I think. Because everyone always has this automatic, you know, idea of what it takes to be a firefighter, and they go into all these you know burning homes or places really help people, so they already have this automatic establishment of trust. Um, so I mean, I don't mean wrong, I definitely use that card when I needed to, but overall, I think just getting to know people and talking to people and allowing them to hear you and feeling that they've been heard as well has allowed that like really good communication and in regard to be able to get into I'd say people's homes or hey, let me buy your house.

SPEAKER_04 8:04

Oh, it sounds like so. Since you're doing direct to sell, are you doing 100% burr?

Partnering with lenders at real estate meetups

SPEAKER_04 8:08

You're doing sub two? Is that those are your two strategies? Well, what strategies?

SPEAKER_05 8:12

Yeah, I started off trying to do a lot more creative financing, like the sub two stuff. Um, so I started trying to do like you know seller carries and you know involving other lenders with that. Um, I never really got too much success with that, and I think it's because I just wasn't hitting the numbers as much. But what I found was easier for me to get to was I found it easier just partnering with people who had money, and I just find the deal. And I would, you know, partner with investors at real estate meetup groups, give them a call. Hey, like I'm looking to I have you know 150,000 in my retirement account. I'm looking to lend on real estate for. Hi, my name's Michael. I'd love to, you know, buy you some coffee and dinner. So, you know, a lot a lot of that was just me going to find these people, and it's really, I mean, I thought it was really easy because I haven't gone to that many real estate meetup groups, but the one uh the quite few that I have been a part of, there's been a lot of people just volunteering their information that they lend on on real estate.

SPEAKER_02 9:10

How do you how do you structure these partner deals when you find a good partner to get, you know, to to do some do some buy-in with? How do you how do you structure these deals?

SPEAKER_05 9:18

Yeah, so really in uh three different ways that I've done so far. One way is been so the 50-50 partnerships, either I'll come in with a little bit of money and my partner will come in with the majority of it, um, and go in that way 50-50, or my partner will come in with a full-down payment for the property and closing costs. So they acquire it essentially, and I say, Hey, I'll handle the rehab of it, I'll manage the whole project, um, I'll come in and you know, also include the furniture aspect to it and manage it. And so those are my responsibilities where I kind of get some coverage on the hard money loan side because we have that rehab loan, but there's a loan for all the cost of doing the rehab for it as well. And I usually make sure to up the prices a little bit um for percentage-wise to help include the cost for the furniture. Um, so that's been kind of a nice little asset to kind of get that not free free furniture because you're it's it but it's wrapped in the loan, which kind of helps out a lot because you can get your appliances in there, you can get other big items like that. So that was that was kind of my contribution besides just finding the deal. Um, but that's what I would, you know, normally the angle I would work from. Um, whereas they're putting the money up front to pay for everything if that makes sense.

SPEAKER_02 10:36

And do you get it like a lawyer to do the contract and stuff like that?

SPEAKER_05 10:39

Um, yeah, so I've done, I've I've been part of this like a couple different types of organizations, like business Anderson Advisors was one, legal shield is another. So I'd just call them up, be like, hey, you have any templates or contracts I can work from? And you know, I don't think you're supposed to be altering any types of contracts, but I'd give it back to the lawyer, right? Or attorney after and be like, hey, can you just fix this promissory note for me or fix this type of agreement for me? Um, but on the lending side, mostly I would because those were two partnership side, but the lending side, I would structure in either uh nine-month promissory note if it's for um if it's more for like a rehab type of situation, but if it's for like a if I'm doing like a turnkey property, which I'm in the process of doing one turnkey right now, then I'll I'll have that promissory note go out to two to three years, just so that takes time to pay it back.

SPEAKER_04 11:35

Now you said you partner with these guys and then you take care of the rehab. Now, is this whole thing 50-50? Like so after the refi, he gets paid back, and then it does he still hold hold title with you, or is it just yours?

SPEAKER_05 11:48

Yeah, so the 50-50 ones, they're holding title with me. Um, so I had two of those um in partnership, and the other ones are where they just do the full-on lending, and that title is mine. Nice.

SPEAKER_04 12:02

You just dropped some game. I've never heard think about someone doing that, doing a 50-50 burr. You come do everything, I'll take care of the rehab and the Airbnb stuff, and then you just get paid. Man, that's a hell of a strategy right there. I like it, I like that. I appreciate it, and so how much do you charge them to manage it?

SPEAKER_05 12:22

Um, so I usually do 25 um still, but in regards to my partners, there was, I don't know. I'm still I'm still I feel like I'm still new at this, which is honestly right the reason I call myself a practitioner because I'm just involved in the game. I'm not like I try not to clarify myself as an expert by any means, but I'm just a practitioner working with other practitioners. Let's get this done. Um, but I use so like I'm in the mix of like changing my percentage um to work with partners, but I'm not exactly sure. I haven't really found a number yet. But as of right now, it's 25, and that's what I charge pretty much everybody, to be honest.

SPEAKER_04 13:03

Um bad man, 25 plus equity. Yeah, can't beat that, man. I I'm impressed.

SPEAKER_02 13:12

Yeah, he's not to the you know, we're all we're all we're all trying to figure this game out, you know. People that that go on there and say they're gurus, and this is how you do it, this is how you you know, take it with a grain of salt. You get do it how you gotta do it, right? Uh to be make it successful for you. I know Grant Cardone takes 50 of everything, but he's Grant Cardone, right?

SPEAKER_05 13:31

Yeah, he's got a big name for it, that's for sure.

SPEAKER_02 13:33

He put he put zero in, investors buy it for him, yeah, and then he gets like uh then they sell it a few years later, he gets his golden 10 million dollar, 20 million dollar parachute on the way out, and you know, just using his name. Makes it work, makes it work, yeah.

SPEAKER_05 13:47

Man, he's he's one thing I've been learning a lot, and I'm not I was never really a Grant Cardone fan, but after just seeing his consistency and just hearing different interviews left and right, man, one thing he definitely delivers on is he's always about interacting and meeting people, like he's always about that and always makes it accessible for him to do that. And I'm sure he looks at it and hey, is this worth my time? Is this viable? But um, at the same time, I think one of the things he preaches a lot is just consistency, 10x, right? Like he'll he'll say rather than do your post or do this, you know, once or twice. No, you gotta like times that by 10, do it that many more times and do it consistently, and that's how much you know that will increase your say chances of success like tenfold or more, I would say.

SPEAKER_02 14:35

Yeah, consistency.

Consistency kept the podcast past 200 episodes

SPEAKER_02 14:37

And you asked us before the the podcast how we how we managed to stay in it, you know, past 200 episodes and this consistency, man. It's like you know, both of us have busy lives, and at the time Micah had the full-time job plus doing all his business stuff. I'm still at my full-time job and doing all the business stuff, and then um, but we just we just made it a point to keep doing it and not quit, you know. And I told him, I told him most most podcasts uh give up after the 50th episode, but I think it's way earlier than that. I just said 50. I just wanted a good 50, you know. I thought we'd get our good footing, you know, at 50 episodes, and and and we did, and we made it past that mark, and we just kept going. So I this just consistency, man. It's it's pretty, it's pretty simple, it's as simple as that, but it's it's hard, it's hard to do, right?

SPEAKER_04 15:19

But you know what's funny? There was only two podcasts out about short-term rentals when we started, and the one that we listened to the middle of the time of us recording hours, they stopped. And Steve was like, Man, shampoo and blue stopped. I'm like, ah, damn, you know, and then we just took off, we kept going. So, yeah, consistency.

AirDNA's $5k package and the top 3,000 cities list

SPEAKER_04 15:37

So, one question I do have for you, Mike, because you said you do vacation rental markets. Um, which market is better? Are like in Virginia? Are you on the beach or where are you at in Virginia?

SPEAKER_05 15:48

That's that's a real good question. So we're I do all like everything is just data specific. So um, so what I did, I bought like a $5,000 package with Air DNA that tells me like the top 3,000 cities to invest in. And it bases it off of rental demand, revenue growth, and investability, which is really just cash and cash return. That's like the fancy way of saying cash and cash return. Um, and so I look at these markets and I've learned, and even the top 3000 to like their list isn't like it's good to give you a direction and define where these little like cities are, but you still have to like evaluate those cities and find out what's bringing people there and like how long has it been growing that way, or you know, all these different factors that you need to like really study. But so that's that's honestly how we found the place in Virginia, and that was in Shenandoah, Virginia, is where we started to invest. Um, and so it's a little small mountain town near the uh Shenandoah National Park. Um, tons of cabins out there, but a lot of people come from Washington, DC, or you know, Charlottesville or places of those areas within Virginia. But it's like the value is crazy. Like we bought, well, one, the land we just bought was like

Shenandoah land at $7k per half-acre, $90k annual revenue

SPEAKER_05 17:07

seven grand for a half an acre that we're looking to build a cabin on that is probably an expensive cabin, but that cabin alone will bring in um over a hundred thousand easy. Um, but like one of my students, my first students, for example, she bought a house out there as well. Um, and she is she's bringing in anywhere from we had first thought it would be around 80,000 with the occupancy, but it's looking to be about 90,000, and she bought that place for around 300 grand. Um so the cash and cash return, the spread is huge in regards to um just a lot of room for messing up, and you're still gonna get tons of passive cash flow. I think it's around like 40, all said and done with us managing it. She's getting 40,000 a year, which comes out to be 12 goals in. I have no idea. You know, maybe a couple, three grand a month, four grand a month, somewhere around there.

SPEAKER_04 18:10

You said Shenandoah, isn't that where shampoo booze is at? Because they yeah, because they you they're right by DC.

SPEAKER_05 18:18

I think that's where they are, but really, yeah, that'll be crazy if they are. Um, yeah, but yeah, I mean, and I find those little markets here and there within Florida as well. You know, it's just more about finding the cash or what markets are bringing people in consistently and that's surrounding that area, and then where can you find the product that's gonna get the highest return in comparison with that value of the home? But that's kind of how we pick our places.

SPEAKER_04 18:43

And how long have you been in that market?

SPEAKER_05 18:45

Oh man, not that long. Um, maybe about five, no, six, five, six months.

SPEAKER_06 18:52

Okay, yeah.

SPEAKER_04 18:54

Do you okay, go ahead?

SPEAKER_02 18:55

Do you use like something like Air DNA to find the place that's the biggest paying for the buck? You know, find out what the houses are selling for, plus then what the what they could make you on Airbnb. Do you use anything like that?

SPEAKER_05 19:07

Yeah, I mean, yeah, so I have like three sources I switch back and forth from. Um, AirDNA is probably like the number one go-to that I go with. MASH Pfizer, I use as a secondary, and when I'm really needing like key information, it's called key data. It's one that's not heard about, I feel, is too often, but it's it's probably one of the most accurate ones because at least in the large markets, so they'll go in and they'll partner with property managers, and so they're actually getting the actual recorded funds that are being deposited from like say those rentals, and they're getting all the like you know, for example, a lot of property managers, especially on the east coast and in the south, where these vacation homes have always been, a lot of them, yeah, they get those, you know, their bookings from Airbnb and Virgo and Booking.com, but they also have their own website, you know, that they're soliciting to, and people will book through their own website. I have mine as well. Um, so there's a lot of bookings and things that aren't being recorded on AirDNA or MASH visor. Like AirDNA only does they only record Airbnb and Verbo, you know, bookings. They don't record anything from the property manager side, not from booking.com, not from some of these other sites that people use. Um, and MASH visor only records from Airbnb. So there's a lot of limited information you can't see, but key data kind of reveals a lot of that, which is pretty neat. It's just really pricey. Really?

SPEAKER_04 20:33

Yeah, see, but and I I had a I had a conversation with uh Air DNA today. I had a how I would we had a so I and they were they're trying to sell me a package, but anyways, so so basically what I was gonna try to ask. Yeah, so they have some new stuff coming out. It's pretty cool, not where I want it to be, but it's pretty cool. Yeah, so with that air DNA data, did it pan out for you? Meaning, okay, you spent what four or five grand on this package. Did that pan out for you like in the long run on the investment that you picked up?

SPEAKER_05 21:07

You know, that's a good question because all it really needs is just one investment that gets me in the right place. But to be honest, I was already looking at Shenandoah just from some of the free information that they're offering. Um, but in regards to that, I think it only panned out because like I can't really disperse or sell that information, but I could, you know, really let people view it at my own, you know, type of Excel. And and I've allowed that, say within my group, I have this little like practitioner group. Let's just call it that. Um but like so it's panned out for being able to give value to like my team, my students, you know, people who are trying to achieve the same goals as

The $800k Virgin Islands house with a $420k annual gross

SPEAKER_05 21:47

I am. Um, because they're able to see that information. I feel like if it was just for me, it would make no sense. Um, because I can't, what am I gonna do with 3,000 cities? I ain't got that much capital to like. Deploy here, here, here, here. You know what I mean? Like, ain't nobody got time to go to five different, you know, I'd say locations. And I mean, you don't need like 3,000, you know, cities to like know what the top places to invest. I mean, not for one person, you know. I mean, barely for a firm, but definitely not for one person.

SPEAKER_04 22:20

I'm starting to think like from air DNA and even how you just described it, I think Air DNA is useful if you're buying, because you have to be very targeted in what you want, right? Yes. So yes, yeah. So if you're buying a house and you want it, let's say you're buying, you're looking for property that's going to bring me 150,000 a year. And air DNA can provide you that value, that information. And even at that, if you know Air DNA is telling you it's bringing you 100 grand, you know we can do more because it doesn't calculate the value of the property. So I I think that's a very good, I think that's a very good starting point if you're buying for sure.

SPEAKER_02 22:53

You know, that and that must be something that Air DNA is they already they already know, and they know that people are sharing these the the logins, if you say you know, as you will. Yeah, and so they're like, Well, shit, we're gonna we're gonna charge 10, 14 grand for this information because they're gonna share it with their whole team that's that's under them. So that okay, it kind of makes sense now. They're not making it where the Netflix where they you can't log in here, you can't log in there, kind of thing.

SPEAKER_05 23:18

No, y'all heard about that though? Uh what a Netflix thing, a Netflix. They're trying well, so there's that, which they've already had, but they're trying to do this this new thing where they're trying to charge for sharing your password. I'm not sure how they're gonna figure that out, but yeah, piggybacking.

SPEAKER_02 23:34

Well, they'll feel it figured out for the VPN, I guess. So they'll know if someone's in a different place using your thing, then they say, Oh, that's fine and all, but they got to pay their five bucks a month or whatever the price is.

SPEAKER_04 23:44

Yeah, it's just they're piggyback on top of your on your YouTube TV already does it, you know. They but they do it in a way like, hey, you can have five devices, meaning, okay, if you have one house, you know, it's five bedrooms in there, y'all can all have accounts, right? Yeah, and then once it goes over that, you try to log in and it'll tell you, hey, you're maxed out. I think Netflix kind of wants to do the same thing, which I don't know. It's gonna make our short-term rental costs go up for the people that provide those right. And that's one of the reasons why I never provided that stuff. Like, I provide access to it because what's gonna happen is if you got 10 Airbnbs, everybody's logged in. Now you got to get another Netflix count. Yep, you know, and that's I've never provided that stuff, I only provide access to it.

SPEAKER_05 24:26

We started two at first, and then we're like, nah, we ain't doing this, it's too much.

SPEAKER_04 24:32

Everybody's got a Netflix login, man. If you don't think your mom's got one, somebody's got one, you know.

SPEAKER_02 24:38

You know, it's funny, right? I started uh uh, you know, we do Roku TVs, do the TCL Roku's, whatever, and then they can you know log in their own apps, and people a lot of times would leave the the the logins, you know, so the next people would get it for free. And and I have a TV at my house that's you know uh uses the same uh you know Roku login as the as the Airbnbs, right? And so that TV I got like HBO Max, I got some other stuff that that the guests have left. I didn't know it shared it across all the all the TVs of that login. I was like, Oh, I get HBO Max, this is cool. I don't know if you gotta make sure your shit ain't tied to that. Thank you, uh Daniel. Yeah, whoever you are. Actually, it was uh it was a it was an a-hole guest, so I'm not feeling too sad about about getting it for free, bro.

SPEAKER_04 25:26

No, I'm saying make sure your personal information ain't tied to that because if you're logged into Roku, you're uh it connects back to your credit card.

SPEAKER_02 25:33

Yeah, yeah. Well, we that's this this this account is just for the just for uh rentals, it's not a my personal Roku account.

SPEAKER_04 25:39

Oh, good, good, good. I was like, Yeah, well, yeah.

SPEAKER_02 25:42

So, anyways, but but it's funny because like I I know Federico started telling the VAs, hey, be sure to put on the department you know, on the checkout message that be sure to log out out of all your apps before you and I was like, Why'd you add that, man? A couple guests have said, Hell, I've right, you know, we left, but we forgot to log out. Could you log us out? It's like, man, don't put that's only a couple guests, don't do that, man.

SPEAKER_03 26:05

For real, man.

SPEAKER_04 26:07

Maybe I'll be able to put in the next guest the Playboy channel, man. You're the Playboy channel.

SPEAKER_03 26:13

Wow, that takes me way back, man. It doesn't even exist, do it. That's so funny, man. The Playboy channel ruining the experience, man.

SPEAKER_04 26:26

Um but yeah, stuff like that for sure, for sure. But yeah, man, I I just kind of wanted to know like that air DNA data because they're really pushing to you know, make this sale. And I'm just kind of like, yeah, I don't know. But I I guess if you're buying, and and that's something I may want to look into, right? So if I want to dive deeper into buying, instead of just buying these rinky dinks here and here, just go for one high value one that brings you the income that you need, you know.

SPEAKER_05 26:49

Yeah, yeah, I think it matters, it's really important on that on that front when you're buying, because one of the things I think everybody is really cool with is allows you to see the comps, and like the comps you're looking at is you want to see like the amenities, how many people sleeps, you know, what type of uh guests are visiting that. Like for one, oh man, I almost did this, and I'll give this to you guys if you guys you know are in that space. But there's uh there's a house that was for sale for 800,000 in the Virgin Islands and the U the United States Virgin Islands, and so um I I I was I thought, man, this is a beautiful house. Like it's old and it's all kinds of messed up, and it needs like $400,000 of rehab done to it just to get it up to par to where it's supposed to be, but it's huge, like you know, six bedrooms, six baths, you know, each got its own suite. Um, it's like a little what it was used to be a pool that had a um uh it used to have what do you call them? The infinity pools, you know, where it looks off into the cliffs and it's like beautiful, all ocean views. Like you're just on the cliffs and it's gorgeous. But so this house was on, I think it's Peter Bohr or something, I forgot, but it's up there a hundred thousand dollars. Well, the value of that house, if you fix it up for 400,000, is 2.4 million. Like there was houses all along there that were selling for that. So if you put that much money into it, you'd be able to get all that money back easy. And the cool thing, but the the cooler thing about that was I was looking at those those styled homes. There was four properties all in the same area, same neighborhood, that were grossing over like on a minimum. Like the smallest amount I saw was for that size property with that many, you know, sleeps that many people were grossing minimum was like 420,000 a year. Like I was what like are you kidding me? Like that's nice, you know, but is it still available? Uh probably, yeah. Probably. I try to, and here's the thing, I try to pick it up, but to be honest, I wasn't able to only because with my one, I don't have investors that go up at that point level yet. Um and and two, I usually when I'm doing flips and projects, I like to have my the lenders, they're like national lenders, but they don't they aren't able to offer that product in the in the Virgin Islands. So that's been really difficult is to find like I can get lending, but that means I would have to have like that. I would rather have that rehab loan backed by a lender and not come up with a 400 grand myself.

SPEAKER_02 29:35

Like you want me to send send a plane from Columbia and drop something off for you. Hey, yeah, you got some by the by the house cash money, yeah.

SPEAKER_04 29:48

We can get a lender, man. We gotta talk after the show, man. Let's send me some messages on LinkedIn. I'm interested in that, man. You said that 1.4 mil. We all in at 1.4, and it's worth 2.4.

SPEAKER_05 30:03

It's worth 2.4 million, yes.

SPEAKER_04 30:06

After done 800k to purchase, 400, put in 400.2.

SPEAKER_05 30:12

Yep, and I would give or take 100. Like, I had one contour, what one contractor walk through it and do the bid, and he said absolutely it would take about eight to nine months with him and his crew and stuff, so that's a side note, um, which is totally fine, but that's with doing all the like you know higher quality materials, all that kind of stuff.

SPEAKER_02 30:33

Yeah, it's island time too, right? The what island time, they take their time over there.

SPEAKER_05 30:39

Island exactly. That's real though. And I mean, I I I called I called probably 10 contractors trying to find one who would like actually want to work with me, and most of them they just don't they don't want to work with people who don't live there or don't already own the property, so it makes sense.

SPEAKER_04 30:56

Wow, yeah, yeah, because that's the only risk. That 800 bands, man. I mean, you can get it for what if you have the right hard money lender, you can get it for 80. Yeah, something, yeah, that's crazy, man.

SPEAKER_02 31:07

But damn, just fly some contractors from here and say, Hey, you want to be uh at a few months in in the Caribbean, I'll pay for it, and just you just fix up this house and you get well.

SPEAKER_05 31:18

It's funny you said that. I actually did have my guy, so I have a crew in Florida who I use religiously, and um, and they they said they would. Oh because I was I was trying to figure out how this was gonna get done sooner than eight months. Um, I ended up giving up on it though. But you know, that's you guys, I will gladly send uh everything to you. I know it's still in the market, I'm pretty sure it is because it's it's hard one to take down. But if you have the resources, you can do it for sure.

SPEAKER_04 31:44

Liveletrive at gmail.com. Go ahead and send that over. Uh but yeah, uh, but yeah, man, that that's crazy, man. So, like, what are your plans for expansion right now? Like, what are you what what are you working on to expand your business?

SPEAKER_05 31:56

So I've I've definitely on the investment

Tiny home village plans and campground zoning in Idaho

SPEAKER_05 32:01

side, um, I've just been able, I've realized you know, you can be really resourceful just by leveraging relationships and people and partnering on deals. But I kind of went from, well, I'm partnering on these small deals, why don't we just partner on something a little a little larger, you know, that would actually make sense for everybody. Um, and so we we're in this position right now where we're looking to develop like a more like a tiny home village community, that kind of thing. Um, out here in Idaho and a very like specific little areas that we're looking at that would actually bring the traffic itself just by where it's at. Um, so those are those are kind of the things that we're looking into now. We haven't really made well, we've made a few offers on on some land and had a few conversations, but we haven't gotten in in contract um with anything yet. Um we're trying.

SPEAKER_04 32:52

What does the zoning have to be for like one of I have some plot to land, so what does the zoning have to be for that?

SPEAKER_05 32:58

I think it depends. Uh they know there's like uh for us, we're looking campground zoning. So, you know, that's that's the style that we're looking for because it makes us a little more flexible with what we can have and have or not have on there. Um, but really it's just the zoning that allows campgrounds, but that's that's what we're looking for. I don't even know if I don't think it's called campground zoning. Um, but I think it's the word for it. Man, I don't even know. I don't even know, but um to be specific. But I I mean that's that's the type of zoning that that we're looking for for that.

SPEAKER_04 33:28

Okay. And what what part of Florida are you units in?

SPEAKER_05 33:32

My they're in Pensacola, Gulf Breeze, and Perdito Key, which is all all in the peninsula of Florida.

SPEAKER_04 33:39

Which of those have been your best market?

SPEAKER_05 33:43

You know what? Um Gulf Breeze is probably the better one, and I think it's just because it's like it's right next to Pensacola Beach, it's right down the road from from Destin um and Navarre Beach. So it's really close to everything, and it's not like too overly. I mean, it's definitely saturated, but Gulf Breeze itself is not saturated in comparison to like Destin or you know, even uh Perdito Keys, a lot more happening in Pensacola Beach, but it's like you get a little more of the family feel, hometown, that kind of stuff, but you still get access to everything. Golf breeze, yeah.

SPEAKER_02 34:23

That's the best there, Mike.

SPEAKER_04 34:25

Yeah, if it ain't yeah, if it but you're saying saturated, and that that's another question I do have. Like, so like vacation rental markets, yeah. How do you guys handle the saturation since it's vacation rental markets that are basically created for vacationers, right?

SPEAKER_06 34:38

Yeah, yeah.

SPEAKER_04 34:39

How is that saturation handled? Like, what do you do to stand out from the guy with the exact same cabin as you next door?

SPEAKER_05 34:45

Yeah, that's a great question. So I feel like in those really saturated markets, you gotta appeal to a very specific buyer. Um, and you got to stick with that. So, I mean, I am honestly with my with my properties, I'm a bad example because all those are ones like let's just buy it and serve the middle, like the middle class. Like that's what we can afford. Because we're buying properties that like like this one in Gulf Brees was we picked up for one sixty? Don't go, yeah. I think one may 160. The ARV on that, it was like 230, um, 235. And so like, but that one was the revenue we're looking at is like one, like not one, um, it's like 53,000, 57,000 a year. Um, but so we liked that as like, but it was still serving the medium middle class. But to be honest, the ones that kill it in those saturated markets, you don't want to serve that medium because everyone's serving that medium, and there's a lot of people serving that medium. I'd say, like, to stand out is you want to get those big homes that have, you know, the larger, you know, five, six bedrooms, you know, maybe suites, that kind of thing, because then you're pulling in a lot more money and you're you're serving either a huge family or you know, definitely party related, but people who are looking to entertain and have a good time. Um, and I think people are willing to pay a lot more for that, and there's less uh properties available for those types of visitors. Um, and so when you invest in the bigger homes with gaming rooms and pool, beach access, all these different things that are just hey, that's the reason why people are visiting if you're in the beach or if you're in a mountain town, then you know, fluff it up with all the things of the reasons why people are visiting that mountain town. Um, but serving that demographic that is willing to pay more,

Standing out in saturated markets with big homes and amenities

SPEAKER_05 36:39

I would say then you're willing to pay a little more money for it. But those are I'd say good ways to stand out inside.

SPEAKER_01 36:44

You gotta have a pool, right? Oh, yeah, you can't have a house without a pool.

SPEAKER_04 36:50

What you said actually just kind of brought me to the point because you the first thing you said was you have a 160 purchase price and an ARV at 235. So you're telling me right now you're burning this property. I am so when you're doing the burst strategy, serving that middle class can work because your mortgage is way lower anyway.

SPEAKER_05 37:07

Exactly.

SPEAKER_04 37:07

Yeah, that is the power, man. That's the power of buying real estate at the right price, man. You make your money buy.

SPEAKER_02 37:13

That's right. Yep, yes.

SPEAKER_04 37:15

Go ahead, Steve.

SPEAKER_02 37:16

I hear a lot about you know about Idaho. How I mean how beautiful it is, it's like the best kept secret, right? Yeah, as far as us going that way. Now, I hear a lot of Californians are moving there. Is that true? Yep, that's I'm one of them driving up the values and stuff. Yeah, yeah. Oh man, so so how do you I mean, because you only had you have one property over there, right?

SPEAKER_05 37:40

Yeah, it's my primary home, but okay, I have we that's how we actually originally started off was we bought our primary home, but then we had like a bonus room, and that bonus room was above the garage. We're like, hey, how can we make this like a house hack situation? So we ended up walling off one of the the hallways and had its own separate entrance and ended up doing its own little kitchenette bar, everything. And that was how we first started getting into Airbnb, just from happenstance. And I think our first month we had around three thousand dollars when I think the long-term rent was supposed to be like around 800, and our mortgage was 1800. So we were like, um, this is real, this is cool, you know. That's what got you the bug, uh yep, yep.

SPEAKER_04 38:29

Oh, question, question. You just said something. Now, does that scare you that the long-term numbers don't work?

SPEAKER_05 38:36

Um uh man, I don't know if it I would say it scares me, but just I think just knowing the numbers, like, okay, this it just didn't it didn't meet up. We were just planning on you know saving some cash, but it didn't really scare us because we we also pulled out another like 80 grand from the appreciation, you know, and so that helped a lot. Not that we were banking on that, but like that was amazing, we were able to buy more properties with that. Um, you know, but but yeah, I mean, if I started off more focusing on investing in areas where the long-term rents make sense, but now that I'm in vacation areas and I'm focusing on those those areas, and as long as I can see the history of them being around for a long time and and nothing, I mean, even COVID not really destroying that that space, um, now I'm like I'm not really considering the long-term rent anymore.

SPEAKER_04 39:30

Yeah, that's man, there's so many ways it's gonna catch in this game. Because I thought about it. If you go to a vacation rental market, who gives a damn what the long-term numbers it's yeah, the laws and everything are in place, they ain't send you down.

SPEAKER_05 39:40

Exactly, exactly. And that's and that's the kind of mindset I had too, because you know, they ain't changing, they've been around for a long time. Like, it's gonna be the same, it's gonna be good. Well, as of right now, that's all I know.

SPEAKER_02 39:51

What what city is that again? In Idaho, in Idaho, uh Meridian, Meridian, Idaho, and and that is a destinate as a vacation destination.

SPEAKER_05 39:58

Oh no, oh no, okay, definitely not. So it's definitely more of a like uh, I mean, Meridian is not, but you look at Sun Valley, you look at McCall, um, those or quarter lane, even like they're all different located in different spots within Idaho, but they're all destination spots. So you wouldn't you wouldn't snap up homes around you in order to do Airbnb there, would you? No, I wouldn't. It's the number I mean it worked out for us because this is where we lived, and we were already paying the mortgage and it paid it for us, you know. But in response to being able to go out, if I was to buy here, I would not buy for cash flow reasons. I have tons of investors who are, but like not my investors, but people who I manage for. Um, but like, you know, I tell them, like, hey, I you know, it's not bad, but to be honest, for the headache, I'd rather just do a long-term renter here because you're you know, you're almost grossing some of the same or making the same terms of profit, like in some of these areas. Um, just depending where you buy though.

SPEAKER_02 40:59

Yeah, it's cool to have different tools in the tool belt, right?

SPEAKER_04 41:02

Yeah, I think at this point you have to buy strategically because the housing prices are too high. So if you're starting something in like Dallas and regulations are in talks, you know, you can't just go buy no some twin 20% down, and man, the long-term rental numbers don't work, you know. Yeah, so yeah, I think this is I think me and Steve, we always talk with our our two other buddies, uh Mike and Federico. I'm like, man, we're in a space now where short-term rentals are evolving just because of the market right now. It's crazy.

SPEAKER_02 41:33

Yeah, you know what's a trip. I mean, uh, sorry to get off track a little. Well, we're still kind of on track, but like a buddy of mine at work, he he just got here about a year ago from Chicago, right? And he he had moved here, you know, you know, lower cost of living, he's gonna look for a house and all this stuff. And um, anyways, I just talked to him the other day, not a buddy, more of an acquaintance, but he said he's moving back to Chicago, he's he's transferring back from you know, he works at American, also. And I was like, Oh, why are you transferring back for? What's going on? He's like, Man, it's just um the cost of living too high here, man. And I was like, and in one year, because I told you I had my you know, houses rents were around, you know, whatever for a house or 1500. Now it's like close 22, 2500 for the same house. I mean, it's just skyrocketed, and I'm like, Man, Dallas Fort Worth area is becoming too hot for people coming from Chicago, so they're going back to Chicago because it's cheaper to live than Dallas. I was like, holy crap, man!

SPEAKER_04 42:29

Wow, that is crazy. I mean, you have to look at it, man. The DFW is the third largest metroplex, Dallas Fort Worth together is the third largest metroplex in the United States. We are right behind LA and New York. That's nuts. I know it's crazy to think about. Like, people don't realize. I'm like, people always say we're the ninth largest city, but I'm like, yeah, if you had Fort Worth, you're the third largest metropolis, bro. Like, it's crazy, anyways.

SPEAKER_02 42:53

Yeah, man. You the trends and stuff it's you gotta pay attention to it. But it seems like you're doing good, Michael Porsche, Michael Porsche 911. Yeah, is that your handle on um Instagram? Oh no, that's a good idea, though.

SPEAKER_04 43:12

So and now let's kind of touch into your management side. So on your management side, you only manage the ones that you have done like a burr strategy with, or do you pick up

Inventory counts, cameras, and the $4k monthly revenue floor for new clients

SPEAKER_04 43:21

other ones, other units to manage as well?

SPEAKER_05 43:23

Yeah, so that's how I started. I started doing just the ones that we own, and then and then I started moving into a position of doing others. Um, so I recently just started marketing myself for that. Um, just because, well, I might as well just have a separate management company and a separate investment company, and you know, maybe a coaching company too. So it it kind of just evolved like that. Um, but yeah, so now I I do just manage other people's investments and I try and come at it from an asset management perspective.

SPEAKER_04 43:54

How what problems have you run into with managing other people's property?

SPEAKER_05 43:58

Goodness, every problem. I think, I don't know, man. So many, so many issues. I've grown so much as a human being from managing other people's properties. I gotta tell you, I mean, it's just because everyone's different, everyone wants something a little different from their property, right? Everyone wants something, they have different expectations. And so the problems are numerous, you know. But I think when you're working with other people's investments and other people's babies, um, you really gotta have your systems and your documentation like dialed. Um, so we've added things to our property management company that I think a lot of other property management companies don't do, but like we will go, we will go in and like literally do an inventory count of everything. And I don't know if this is I never heard of other people doing it, but like maybe that's because I just don't network enough. But like we would go out and we would inventory every single item that belongs to the owner and we take pictures of it. Um, and we do like monthly checks on those items because sometimes they go missing, sometimes parties happen, they destroy property, all that kind of stuff, which we've run into those situations. Um, but it's really helped having that inventory checklist of what the owner has, and they'll go sign off on it, and you know, and that kind of helps just with like any issues or liability. Hey, this is my personal property, and it's gone, you know. And you know, well, we've never had it, you know. So it's all these different ways of just protecting yourself and that. Um you know, we do a couple other things too, like we don't work with somebody unless they agree to pay for cameras and digital door locks. Um really just one camera, but like we man, that it makes operations for us so much easier, and it allows us to give like a better product for them. Um, you know, because then we can actually monitor people, we can, you know, uh keep people accountable when they come into the property, and we can report things if something bad happens. Um so that's those are some of the things that we run into on the management side.

SPEAKER_04 45:51

What is your target type of owner that you like to work with on the management side?

SPEAKER_05 45:56

Someone who's not nitpicky and and um uh really though, I would say somebody like so. We we have one of our criteria of people that we were were working with, and we're like new in managing other people's, but they have to their property has to make more than on average, more than four thousand dollars a month um in revenue on average daily rate. So so that because we want to measure based on being able to get at least a thousand dollars because we charge 25%. We want to get at least a thousand dollars of revenue from each client that we work with on a on a monthly basis. So that's why that's one of our criteria. So so for that, we have to look in larger homes or bigger homes or our own students who we who we we work with, because they usually get the higher cash flowing properties um or performing ones. But like we like to utilize and use the people who are actually like you know, they're making a solid income. And then our services being that I would say it costs more to work with us, you know, also because we're doing a lot more to make them more money, um, you know, which is I think the manager's job, right? Um, but it also they can also afford those security things and you know, like a camera or digital door locks and things like that, which are pretty small investments.

SPEAKER_02 47:18

Nice now. Um man, that's so much good information. The so would that be would that make you opposed to picking up like one bedroom, one bath places, condos, stuff like that?

SPEAKER_05 47:31

I mean, I wouldn't be opposed to it because I mean we're definitely we're trying to make it ourselves like an actual company that's gonna be well known. Um, but it takes just as much work, sometimes more for these little ones, and they don't really give you that much of a profit. But I think when we have more of our of our systems dialed, and it's been tested for a couple years. I think we will, I mean, because we kind of started off that way, we'll take what we can get, but now we're like, no, we know what we want, we know what we can get. Let's focus on these and get our systems more dialed. Um, so I think I would personally, um, but right now that's just like that's really not our focus. We're just trying to allow our time because we only have there's only we're a small team of four, including with our virtual assistants. Um, so there's only a limited capacity of what we can handle, and each one adds more to that. So we're just like so rather than spend all this time trying to get this little property up, let's let's spend that same amount of time to focus on finding the guy who needs us at that four thousand a month dollar mark.

SPEAKER_02 48:42

And so you've got your your um property arbitrar, uh not arbitrage, but your property um damn the word just slipped out of my head. No, no, no. Um your target property, what's that called? The um your um avatar, you target, yeah, as an avatar. I wanted to be I wanted to be fancy, I failed miserably. Anyway, so you got your your property uh avatar, and so have have people come to you with like a like a butt ugly house and say, Hey, could you manage this for me? You say you got carpet everywhere, uh even in the bathrooms. Nah, we're probably not gonna we can't do it, bro.

SPEAKER_05 49:17

You know, I haven't I haven't had that yet, but I did have a guy who asked he had three properties and they were performing decently, and he wanted me to come check them out

The dark, animal-heavy house in Nampa nobody should Airbnb

SPEAKER_05 49:27

or come check one out all in Nampa. And I'm like, dude, like, why are you investing in Airbnb in this area? You know what the numbers will be like, but it nampa is not really a great spot. I mean, he'll make money, you know, especially off of one of them. But the one he I came to his house and he's like, I mean, they always say when you're investing in Airbnbs, like like make it a lot of you know, brighter colors, make it appeal more to the women because they're the ones who are booking, you know, or like you know, all these different things. But I walk in this place and it's like dark, there's like you know, animals on the wall, there's like you know, animal rugs, there's horns everywhere, like there's like cow, you know, thing. It's like a western flick. And I'm just like, huh, okay, okay, like, you know, all right, you know, I don't think a woman would be like, yeah, unless they're you know from the west and they want to stay, you know, in that. But I was like, I thought that was just and I and I, yeah.

SPEAKER_02 50:27

I'll go ahead, Steve. Have have you ever convinced any of your clients to add a fireman pole to the house?

SPEAKER_04 50:37

No, but I might try it now. He said ladies are booking, right? I'll say, hey Steve, guess what I did?

SPEAKER_02 50:48

It's a fireman pole, everybody. All right.

SPEAKER_04 50:52

Now, Steve, what Steve just said before that, he made me think of something. He said, Let's say someone does bring you a crappity prop, crappy property. Crappity, a crappy property says let's manage it. Let's say it's crappy, you're like, hell no, I'm managing that. And let's say they're not willing to do the work. Would you maybe even consider like doing like an equity share on it? Like, hey, you give me this much equity in the property, I'll rehab it for you and manage it.

Equity-share rehab and lien strategies for ugly properties

SPEAKER_05 51:19

I never thought about that.

SPEAKER_04 51:21

I didn't either to Steve said that. You can so yeah, I guess for the listeners, you can do that.

SPEAKER_02 51:29

It's it's a problem we've becoming uh across with because we arbitrage places too, right? You know, so so we rent them, furnish them, and then rent them out on Airbnb. But it's like, man, some of them like damn, you know, if if we could pour a little bit of money into this thing, they would like be off. We'd be, I mean, we make good money, but it would be making great money. But then it's not our house, you know, like but um my thing is with when doing something like that, the arbitrar on the arbitrage side is like to get a real great relationship with the with the owner and hopefully, you know, hopefully buy it straight from them one day instead of them putting it on the market and bidding against you know five fifty people. So that's that's our play. So just make good money off of it, arbitrage it or or manage it, and then uh maybe hopefully buy it from them, then we can really, you know, really add to the house.

SPEAKER_04 52:16

Another thing we could do, man. Sorry, we coming up with ideas tonight, man. Uh, like you said, you don't own that property, right, Steve? Yeah, if you talk to the owner and be like, let me put a $20,000 lien on it and I'll put $20,000 worth of work into it. That's so when you sell that property, I get my money back, and I'm getting my money off the Airbnb and short-term rental side.

SPEAKER_02 52:37

The only problem is if he never sells it, you might not ever see your money.

SPEAKER_04 52:40

You're getting it from the Airbnb side.

SPEAKER_02 52:42

Well, if he says, Okay, y'all are done, I'm gonna rent it myself. I don't know. I'm just thinking of the contrarian ideas.

SPEAKER_04 52:47

You can get all contract, like hey, you can't sell it. You know what I'm saying? You have to this lease is until you sell the property. Oh, that's a good one to secure a long-term lease. This lease is until you sell the property or refinance it, dude. All types of ideas coming in on 202.

SPEAKER_02 53:05

Yeah, it's funny too, because there's a there's a condo that we're probably gonna buy from this girl, she wants to sell it to us, and um, it used to be a two-bedroom, and it's and she changed changed into a big one-bedroom, anyways. It it kills it, it kills it for us as a short-term rental, right? It makes us great money, and so we're in the talks of buying it, and we had considered at one point building back that wall, making it a two-bedroom. Like, man, you know, that would be and we'll do it out of our own money because we'd get that money back because it would turn into two-bedroom, it would kill it. But then we thought, man, we're gonna probably try to buy this thing in a few months. Then she's gonna we're gonna make it more valuable as she's instead of selling it to us for 160. She's like it's a two-bedroom, I'm gonna sell it to you for 200 now, you know. So I didn't we thought about that. I was like, Ah, we're gonna we're gonna raise the price on ourselves, anyways.

SPEAKER_05 53:49

Yeah, that's funny. That's exactly what we're doing too. I mean, that's one of the that's a great value add opportunity because that that Gulf Breeze property we bought was a two-bedroom, and it's because they just took the wall down, so we just went back and put the wall back up, and you know, immediate value and also immediate value for the short-term rental space. Now you got a three-bedroom, you know, two or one and a half bath rather than a two-bedroom.

SPEAKER_06 54:13

So that was really nice.

SPEAKER_02 54:16

I'm gonna start a wall building company. That's what I'm gonna do. A wall building, that's all we do, build walls and knock them down, you know. I like it.

SPEAKER_04 54:24

That's dope.

SPEAKER_02 54:25

Well, man, it's been a great episode. Uh, thanks for hopping on with us. Uh, Michael Porsche 911. Where can people find you, bro?

SPEAKER_05 54:33

Oh man, you can find me at uh let's go from Instagram. It's Instagram.com slash Michael R Porsche. Porsche is spelled P-O-R-C-H-E. It doesn't have the S like most people think. And then also str legacies.com. That's kind of my main hub of where I work from and my main gig. That's who I represent. Legacyminded, um, str legacies.com. Uh and what else? That's that's a good that's a good place to start. What can people buy your calendar? Um, you know, you go to sandiego.gov slash michael porch fireman right there.

SPEAKER_02 55:14

You have you actually have a calendar.

SPEAKER_05 55:16

No, I'm over here still working with some dad bot areas, some love handles, some Lohan's right here and there and here. They don't want to see that.

SPEAKER_03 55:28

That's but back in the day, yeah. Back in the day, you know.

SPEAKER_02 55:32

Well, cool, man. Any more questions for our man Michael Porsche?

SPEAKER_04 55:38

Oh man, that was good stuff, man. I love man. Good luck to you. I love what you're doing, so yeah, good luck to you, man. Keep crushing it. Uh you you definitely provide a value to the listeners. So, uh, yeah, man. We definitely gonna have you back once you're up to like 50 because it's coming, because you're on your grind. So sure.

SPEAKER_05 55:55

That's what's answering you guys more and doing some more good stuff. All right, all right, my brother.

SPEAKER_04 56:00

We are out.

SPEAKER_02 56:01

Don't forget the fireman poll.

SPEAKER_03 56:07

Peace later.

SPEAKER_04 56:10

All right, man. That was a good episode. Episode 202 in the bag, man. We man, I'm like still surprised. We had 200 plus episodes, but yeah, man, we're doing it. So, yeah, thank y'all for continuing to listen to us. Remember, hit the subscribe button if you're watching on YouTube. Uh, leave us a review on Apple Podcasts. Um, and yeah, remember our weekly clubhouse meetings are 7:30. We always talking about some good stuff, and what other? We have another meetup coming up in May. So y'all stay tuned for that and join the Facebook group and get active. We uh anything else you have to ask, Steve?

SPEAKER_02 56:45

Man, keep keep at it. Consistency. It's all that matters. Consistency.

SPEAKER_04 56:49

Yes, sir, consistency. And we are out. Peace later.

SPEAKER_00 56:56

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.