Live Let Thrive Episode 358

SPEAKER_00 0:23

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

SPEAKER_03 0:35

Hello, hello, hello. And welcome back to another exciting episode of Live Let Thrive.

SPEAKER_01 0:47

I kind of like sounding like West Wave Forward. If you're from this area, you've heard that that commercial before. So this welcome back to another exciting episode. Okay. Of Live Let Thrive. Um, and we are we are happy to share some knowledge with y'all that we think we might have in our heads. This is episode 358 of your favorite short-term, mid-term, long-term pass split podcast in the world coming at you from Fort Worth and Arlington, Texas.

SPEAKER_03 1:23

What is up, listeners and Stevie Stacks?

SPEAKER_01 1:27

What is up, man? I got some tea. I'm ready to go, ready to kick it, ready to talk some shot, man.

SPEAKER_03 1:33

Yeah, got my late night shake and some sprite over here. And uh yeah, we had to record. There's been a lot of a lot of changes in the Airbnb space.

SPEAKER_01 1:43

It's a lot of changes. Where did you want to start, Micah?

Airbnb Teams Up With Turno on Cleaning

SPEAKER_03 1:46

Well, well, first off, um, shout out to Clint for the message he posted. Um, so it looks like Airbnb has officially partnered with Turno, and they're basically Airbnb is now offering the cleaning service, but it's powered through Turno. Um and that went back to so last episode, I'm gonna start bringing this back to older episodes. We gotta love AI because it pulled a bunch of stuff for me. Um, so last episode, I said it looks like Airbnb is trying to bring everything in-house, and basically that we got the message that you know they're now offering cleaning services, sponsored that is ran through Turno. And then if we don't, if you go back to our episodes, episode 199, I pulled this up.

Ep 199: Mark Simpson Called It in 2022

SPEAKER_03 2:31

Episode 199 with Mark Simpson from Boosley, he called out exactly, and this was in 2022, he called this out, and everything came to fruition. He said they're gonna pull everything in-house, they're going to make it so you can't get phone numbers, emails. He said that you're gonna we're gonna allow Airbnb to become the he said we were gonna allow Airbnb to corner the market to where that they're gonna raise the um host fees up to 15%. They did. He also

Host Fees Hit 15%. Is 50% Next?

SPEAKER_03 3:04

said if we keep on letting it happen, they're gonna raise them to 30, and they may even raise them to 50 if they corner the market, which I think Airbnb has cornered the market, and I think they're flexing right now. Like those Verbo commercials, they're like, all right, Verbo, we're gonna up our rates. One, we're gonna go up to 15, and we can back it. People are gonna still be loyal to it. Um, so it was very interesting, and then also, this is how powerful Airbnb is.

StayFi Makes the Splash Page Optional

SPEAKER_03 3:32

Stay Fi had to make a change in their software. Shout out to uh Arthur and that team because they're on top of it. So everyone was thinking about having to go change their Wi-Fi out or get the main code. He made it now, so you can make it so the page where they sign in is optional per platform. Like you can do it on Airbnb, Verbo. So if you want to go to Airbnb, you can say, hey, the splash page is optional, and you can say, hey, you can let them sign into the Wi-Fi and then just get the splash page afterwards and be like, hey, if you want to opt in, which I think that's still against Airbnb's rules, um, when I ran it all through Claude, but it's cool that they have adapted to it. So that is one good thing, but uh other than that, it looks like Airbnb is trying to bring everything in-house. Um, there if they bring cleaning in-house, that that that's pretty powerful. But the only thing is if somebody comes and messes up your place, you know, that's another thing to think about. Because I did have a weekend guest that did smoke a little weed up in there, mess some must stay, throw some sheets, which I can still I still charge them for it, but in the future, you know, like dang, what do you do? You know, um, they blatantly broke house rules, but I don't know. But that's that's my two cents. What are your thoughts on everything, Stevie Snacks is going on?

SPEAKER_01 4:48

When all this was going on, a song came to my head, right?

SPEAKER_03 4:51

Uh-huh.

SPEAKER_01 4:52

It's it's one you might have heard before. It goes, Oh, it ain't my fault. Uh did I do that? Uh it ain't my fault. That's the guest telling us when they break something, it ain't their fault, man. That's crazy. Is that mystical? Was that mystical? Who is that?

SPEAKER_03 5:12

Yeah, mystical slip shocker. Man, bro, it's getting bad out here.

SPEAKER_01 5:20

It's getting bad of here, man. Um, first, uh so I know people have been listening to us for a while, or or there's newbies. What is everybody should know what stay fi is. You explain to them what stay fi is,

What StayFi Does and What Airbnb Banned

SPEAKER_01 5:31

what you say.

SPEAKER_03 5:32

Good idea. That's the space what so stay fi, if you are new or if you've been on the show, if you're new or on the show, here's what Stafi is. Stay Fi basically is a system, a little box you can put inside of your um in your unit. You connect it to your primary Wi-Fi, but it signals off another Wi-Fi signal. You can name it whatever you want, but when they have to sign into that white, and that's the Wi-Fi signal you give them. So when they sign into the Wi-Fi, it asks for their name, phone number, email, all that stuff. And you can make it mandatory that they do that, which a lot of people have been doing. I think I've been doing it for a while. I have a huge email list from doing that. People, the guests usually don't mind. And if they put a fake email in, it'll note alert you that it's fake, um, or fake number in that alerts you that it's fake. Um, and I think they have to go until they get a real one. But anyway, Airbnb is no longer allowing that, so that's where that change comes in.

SPEAKER_01 6:25

Yeah, because they don't want us to be collecting their um personal information. And and I think people are cool with it because I mean we've just been conditioned, right? Every coffee shop you go to, they have this kind of setup, every airport you go to. If you want to use hop on the Wi-Fi, you gotta put in your you know, phone number or email address and name and and stuff just to get on the free Wi-Fi. Most people do it without even blinking.

SPEAKER_03 6:49

They said you could still do it if you're a resort or a hotel. Wonder how to get that paperwork set up.

SPEAKER_01 6:57

It's always a workaround. And and and I had to mention, you know, because we still get tons of when people check in, how many freaking messages do you get for for the Wi-Fi, right? I mean, is it people not as much maybe as the early days, but people check out the colours? You're gonna get it. Like, dude, it's in the freaking messages. But you know, you got the automated message that sends them whatever. Um, but

The QR Code Wi-Fi Workaround

SPEAKER_01 7:19

you can still have white when they walk into the house, very visible, a QR code, Wi-Fi, big letters, scan that, and you can get on the internet, you know. So, you know, people probably weren't when they're driving there and they're not thinking about internet until they walk into the house and say, Oh, there's the there's the wi-fi right there. I just scan that with my phone, and then I hop on the Wi-Fi, and it happens to be uh, you know, the Sta Fi thing.

SPEAKER_03 7:41

Okay.

unknown 7:42

Yeah.

SPEAKER_01 7:42

So that's what I'm saying. Yeah.

SPEAKER_03 7:44

Go ahead, go ahead. I'm sorry.

SPEAKER_01 7:46

Might collect some people that way.

SPEAKER_03 7:48

Uh no. Hold on. You mean through the QR code?

SPEAKER_01 7:52

Yeah, when they when they get to the unit and scan it. That's why they're they're not messaging you about the Wi-Fi. Oh, yeah, yeah, yeah, yeah. And they see it right there, scan it. They go through their thing, get on the wall, you know, get on the Wi-Fi. There you go.

SPEAKER_03 8:05

Yeah, okay.

SPEAKER_01 8:06

Yeah, that that that that especially if you accidentally mess up when you give them the the Wi-Fi password in the messages.

SPEAKER_03 8:12

Yeah, I always tell me automate that. Automate that. Um You know what I said, right?

SPEAKER_01 8:18

If you accidentally mess up giving them the wrong password, they have to scan the thing when they get there and get the right password.

SPEAKER_03 8:25

I another thing I was saying too is uh there's a couple tricks I ain't gonna say on the show. Uh one of our one of our fans hit us up and said, give me gave me a good idea. I'll talk about it offline. But uh

Hide Your Main Wi-Fi Network

SPEAKER_03 8:36

another way I was thinking of maybe if you give your guest the primary Wi-Fi SSID, but just hide it. And then after you hide it, make sure your other one is up and unlocked. Sometimes they might not even ask, they'll just click and connect to it. So just like hide your primary one, like send it to them in the messages, right? But then just hide the SSID so it don't show up. And most people are gonna be like, oh, where's it at? And then they see this little free one over here, no security. Oh, I just click and log it. Hey, throwing some things out there, man. Hey, you didn't, you know, just throwing some things out there, you know. But that that's one I was thinking of. Um, but another thing that's uh made me think of too,

Picking a PMS: Get an Open API

SPEAKER_03 9:23

with Airbnb doing all this, I think is the importance of like uh property management software right now. Um, I think that's like very important, like Logify or Guestie, hostfully one of them. Um, because our boy Vince hit us up. Shout out to Vince. He was asking about you know a good property management software. And uh I was actually gonna, I told him I was gonna talk about it on the show. Like now, if you're gonna be looking for like a PMS system, uh, you probably wanted to have like an open API. And what I mean by that is something where you can get an API key from whatever your property management software is, and you can connect it to either Claude or Chat GPT or whichever one that you work with, and you can basically automate messaging, automate everything just using your API, you know, or you can go to like I think he brought up host buddy. Um host buddy kind of you know, it just basically you can either build host buddy or let host buddy run it, you know. Uh host buddy, I think is uh it partners with Chat GPT and it kind of responds to the guests automatically based upon the information you give it. Um, so that's one way as well. Uh but yeah, there's there's like if you're gonna choose a uh PMS now, it would definitely have to be make sure it can connect to whatever uh uh AI that you use, and you can get you can get real powerful doing that. And by the way, those changes that are going to effect, if you use a PMS, you don't you don't have to make any changes until March. So you get a little four-month leeway. I don't know if Airbnb is using that as like a litmus test to see like, okay, what's gonna be the feedback or kickback on this, but we'll see.

Why Myka's Going Back to Hostfully

SPEAKER_03 10:59

What PMS do you use? I have not used one. I used to use hostfully. I am gonna go back to hostfully in not too long. I'm gonna go back to hostfully. It'll be hostfully.

SPEAKER_01 11:09

And why is that?

SPEAKER_03 11:10

Uh open API, I can connect to anything, and they have really good direct booking website, really a lot of partnerships, a lot of integrations, and a lot of booking channels. But my main one is their direct booking capabilities, is my main one. And really good calendar management.

SPEAKER_01 11:26

Are you gonna use their dynamic pricing? Are you still gonna stick with Price Labs?

SPEAKER_03 11:31

Price Labs all day.

SPEAKER_01 11:32

Okay.

SPEAKER_03 11:33

Yeah, I'll still use

Hospitable's AI Tier and Mystery Pricing Partner

SPEAKER_03 11:33

Price Labs.

SPEAKER_01 11:34

And while I'm asking that is because we're we're on um Hospitable, right? And they've been, you know, um reaching out to us a lot lately, saying about all this, you know, upgrade to this um, you know, to the next level, right? Um, I forgot what it's called, the highest level, where it comes with uh the AI integration, you know, and it comes with um pricing, uh dynamic pricing. And as and it says they teamed up with a the guy on the on the phone was talking to, they teamed up with a big company. He said he can't tell you tell us what company it is, right? But he can just say they teamed up with some one of the big dogs to do the dynamic pricing for them. So I'm uh I'm thinking about it. I mean, if it is one of these, you know, price labs or wheelhouse or one of the big ones, right? Or whoever the big ones still are beyond pricing, um, and they teamed up and they're doing they're handling the dynamic pricing for them in-house, and it comes out cheaper than me paying for it separately, then I I would really think, oh, think about doing that.

SPEAKER_03 12:44

Yeah, that's a good idea. Um because I think I think once you go with hostfully, I think they just API connect you over to price labs, and I think you would get rid of that bill too. I think I I can't remember. I was on price on hostfully for a long time. I'll have to look into that. However, um, I would really have to ask them who they're using simply because I it whatever you're using, I would need to know the data. I would need to know, like, hey, I I part target mainly midterms. Do you understand that pricing? Do you understand how my calendar needs to be set up? That's my whole thing. You know? Um yeah, that that's my biggest thing. So I I I would do it, but yeah, I would have to see like who are you using? Because the reason why I like price labs is because they have data now, market data that's really good.

PriceLabs vs AirDNA

SPEAKER_01 13:36

Now, do you do you still use Air DNA?

SPEAKER_03 13:39

Uh-uh. I stopped using Air DNA. I use 100% uh price labs because price labs has what AirDNA has now. Okay, and I like Price Labs is better because it's connecting directly to like hostfully and all these PMS systems where they can get direct booking pricing as well. So it gives you like legit data. That's why I like Price Labs.

SPEAKER_01 14:01

And AI.

SPEAKER_03 14:03

Yeah. Because I use no, I I use price labs with the AI. Like I download the market dashboard, put an AI, and like, hey, these are my prices for the next 30 days. It looks at my calendar, says, Oh, offer this much discount, and we can get a 30-day here.

SPEAKER_01 14:17

So

Dogpile, Ask Jeeves and the AI Shakeout

SPEAKER_01 14:18

you know what this reminds me of? What's that? I was around at the beginning of the internet, right?

SPEAKER_03 14:24

Oh, yeah, yeah. I was too, I believe. Nah.

SPEAKER_01 14:27

Oh, you were right after that. But um, I was around the beginning of the internet, you know, the the whole dial up okay. Never mind. I was there.

SPEAKER_03 14:36

Yeah, yeah, yeah.

SPEAKER_01 14:37

Aol, boy. That AOL dial up. Well, when we started getting it into because I was in in college at the time, I was in 1996, 97. I was in college, right? Okay. So the internet just getting warmed up. So they got they have a little you had to go to the computer lab to do, you know, all your computer. Everybody didn't have laptops like nowadays. You had to go to the computer lab to go use a computer, right? And they had the dial up internet there. And if there's a lot of people in there, or they start playing Quake or Doom, then of course it's I take over the computer lab.

SPEAKER_03 15:09

Oh, yeah, it's over with, man.

SPEAKER_01 15:11

But um, but yeah, so we had the dial up and it the early days. Here's it. This is what reminds me of like, okay, hostfully's latching on to their AI, uh, hospitables having their AI, and you know, stuff like that. These big companies are having their AI. Um, is is like when it was early on, it was the Wild West of the internet, right? Google didn't didn't really exist or take over yet at that time period, right? You could you go on just whatever there's like a million different um uh search engines, like dog pile, ass jeeves. There's all these different ones, right? You just try to hop on, you try to find shit, and it was all you know, but it eventually consolidated. Like a few. I uh I say a few. Google is like the it consolidated to one. They own the internet far distance number two is Bing, I guess. Um yes, but Netscape tried to take over, but but um but then uh what's it called? Uh Microsoft kind of kicked them off and tried to do their own uh search engine, right? Um, so so anyways, I I I see that what what's happening with these big companies is they're is they're teaming up with with the AI to do it in-house and be and be your your go-to. So you don't have to go like, oh, you know, I talked to a buddy, oh, I do grok, I do chat GPT, I do, you know, there's all these different ones out there. It's gonna consolidate to like maybe two or three, and then these companies are gonna latch on to those, you know.

SPEAKER_03 16:46

I think so. Um, I'll just shout out to my partner Edwin. I was just having a conversation with him, and exactly what you just said. We were talking about all the different AIs we use. I was like, well, I use uh Claude and Chat GPT, and then but he got to talking to me, he was like, Man, you gotta use grok bot, you know, and I'm like, hmm. I've been hearing everybody talk about grok bot. I'm hearing Vivian Yip talk about it. I heard uh um uh Brandon Turner's real big on grokbot. So I'm like, okay, I gotta try this grockbot. So and but it's like, dang, who's gonna be the guy that does it all? Like, it's gonna eventually be somebody like, oh I do all that. I got grock bot, I do what Claude does. I do I write code, I so yeah, I think it eventually gets there. Um, but for now, man, it's a free reign, man. It's like find the one that works for you and just have at it. Like, I connect everything to my Claude, you know. I'm it really helps me stay organized, like it handles my pricing. So I I really love it.

SPEAKER_01 17:40

Um, that's uh see, I'm still I'm still trying to learn it and and I use it. Perhaps not as um like what like like as advanced as you do, but it it it is it is amazing what it does, man. It is amazing. I mean, I'm not trying to get rid of all my workers or nothing like that.

SPEAKER_03 18:02

Nah, you can't. Yeah, you can't.

SPEAKER_01 18:05

I I oh

Can AI Replace Your VA Team?

SPEAKER_01 18:06

go ahead. The newbies say you can. The newbies that are coming on. Oh, you don't need to have three people on three different ships. Just use host buddy or whatever the ones that that have the AI that'll do it for you.

SPEAKER_03 18:17

I'm gonna tell you why, and I'm gonna be real because I I I've I'm in corporate too. Well, I'm not in corporate, I'm in government, right? And I just left the

"AI Is a Toddler With a PhD"

SPEAKER_03 18:24

biggest AI conference in August, man. And I'm talking ChatGPT was there, open AI was there, Anthropic was there, CIA was there, Department of War was there, everybody was there. All of them. Even OpenAI and Anthropic, who run Claude, straight up said, you cannot fire your employees because you need, if you have agents in your network, anywhere in your business, they have to be managed by a human. Why do you think all these damn happy hugging face and all these like bots that get out of the sandbox? Bro, it's because of bad humans, but like if you just oh forget it, we're just gonna let the bots hell hell no, man. Like my coworker, he always calls me, he goes, Man, AI is a toddler with a PhD. You can't just let you can't run let it run itself.

SPEAKER_01 19:11

So I toddler with a gun.

SPEAKER_03 19:13

Yeah, yeah. You know, you can't just let it run itself. But uh, I will say this. It will, it will, I'm not gonna say get rid of it, it'll make it hard on people. Like, like if you're in a business and the advertising and marketing team, you're doing it all hand by yourself, and the dude next door is using Claude, Chat GPT, and Grokbot, he

Myka's LinkedIn Lead Bot

SPEAKER_03 19:34

probably gonna kick your ass. It's just he's just gonna beat you, he's gonna be better at it because he can have a bot do it, you know what I mean? Um, like it's stuff I do. Like, okay, for example, remember how I used to always talk about LinkedIn and finding connections on there? Man, I created a program to do that for me. Sends it, it goes and scrubs their emails, put it in their email list, and you shoot email, bro. Like, if somebody else is doing that handheld, and I just have a program here while I'm at work and it's running and doing that, I'm beating the competition. So it so yeah, man, it's just the people that are using it, you know. I think it makes it harder for the people who aren't using it, especially if you're in like a small business, and depending on what it is, you know. So I would say this be the first to implement AI. Don't get rid of your employees or have an employee that knows, or hire an employee that knows how to use AI. And you that's when you get dangerous.

SPEAKER_01 20:29

Here's what um, so when our buddy reached out to us and he asked us, he asked us, um, yeah, yeah, I'm looking for some AI, you know, something to integrate it with AI, like hostfully, host buddy, whatever.

Steve's Fix: Get a Better VA

SPEAKER_01 20:40

He goes, it's just my my VA, you know, sometimes it takes a long time to answer the message, or this is this and that. And I was like, to my advice, I'm not an AI expert, but I told him, Well, the my first step would be get a better VA.

SPEAKER_04 20:53

Yeah, me too.

SPEAKER_01 20:55

You can throw all the AI at it if you want. If you have a bad employee, it's gonna fuck it up. Um, it's part of the first bomb of the day.

SPEAKER_03 21:04

Uh no, okay. On that side, if it's just for guest messaging, maybe you could get away with AI, but you still gotta have some guardrails around it. It might start sending uh you better have your all your data in the right place. It might start sending some crazy stuff if your data ain't right, but yeah, I would get a better VA. I'll move to that, man. Get a better VA, bro. Gotta get a better VA.

SPEAKER_01 21:55

So yeah, I'm old school like that. Um, yeah, and it and it is a search to find the good ones. Go ahead.

SPEAKER_03 22:02

Yeah, I'm interested in like how you say a lot of these newbies are coming in and saying like get rid of your employees and just use AI. I'm I I would love to see the AI that they're running to do that because like even this week we had, man, the freaking FedEx guy drove over our damn mailbox.

The FedEx Mailbox Test

SPEAKER_03 22:20

Um, just took the mailbox out, drove over it, but he left a note. He's told us he was like, Hey man, I'm sorry, I drove over your mailbox. Hey, I'll replace it. So my VA had to coordinate with him and then coordinate with my guy who put the get put the mailbox back together. Uh I don't know if we you could probably I just don't trust AI to do that process. Like, even if you have the Elven labs that talks on the phone, like I had one of those people call me today, I hung up the phone. I was like, like, yeah, I just I hung up. The phone immediately. Hi Micah. Is this you? Alright, man. Let me get off my phone, bro. It's like certain things. I ain't outsourcing to no AI. Just certain things that, like, nah, bro. You know, but some people do it. You know, I want to see how they do it and see if it's actually efficient or how many complaints they got. So um, go ahead.

SPEAKER_01 23:12

No, it brings me back to like I read the Elon Musk book, right? And he was always, I mean, he's always been about trying to build these factories where he can automate every single thing, you know, less employees, like hardly any employees. But he found out, you know, like he's trying to build an assembly line of just robots. Um, he's finding out there's things that it's just better to have a human to do, you know, as far as putting a certain part on a car or or certain screw this way, you know, a robot has to do all kinds of different things, they have to teach it so many different things, and it might not still do it right. Whereas a human could just grab it, put it on, ready, you know. He started his so he started to try to go 100% automated and he started bringing back a lot of employees into the fold because they could just do things that robots can't. Yeah, I don't know about in the future, but I mean, but that's Elon, you know, someone who's just trying to be 100% uh automated.

SPEAKER_03 24:06

I mean, even if this, like, if you look at because I tell people always look at like the whole world in general. Like, have

Kiosks Are Replacing the Register

SPEAKER_03 24:13

you ever like have you ever when's the last time you walked into a McDonald's or like any fast food restaurant?

SPEAKER_01 24:19

Yeah, it's very rare. It's very rare, very rare.

SPEAKER_03 24:21

So, like, if you ever walk in there, everything's on a kiosk.

SPEAKER_01 24:25

Oh, yeah, yeah, the kiosk, you're right.

SPEAKER_03 24:26

Yeah, like it's probably one person. I mean, I ain't if you really look at it, they've probably fired a lot of staff.

SPEAKER_01 24:33

You know what's funny? Yeah, yeah, they and they don't hang around by the register. Like, I went to McDonald's when I was a kid, yeah. And and I they always stay by the register, you know. You can wipe down, you can do whatever, but you always have to be present, right? For now that you have to like, hey, yo, can somebody give them a chance? Yeah, you do they want you to do the kiosks, yeah. And if go ahead. No, uh it was funny because one time I went to one, you know, with my daughter after I picked her up from school. Let's go get you know something at McDonald's. Let's walk in because of the long ass line. And and there was a kid, like a teenager, like kind of hovering, and I was hey, uh, could could you take our order? You know, he's like, Oh, yeah, yeah. Um, the kiosks aren't working. I was like, uh, brother, just order here. He's like, Oh, oh, okay. Uh he didn't know how to freaking do it. Like, he had to ask his manager how to type in a freaking cheeseburger. He like, they, I mean, I was like, What the hell? What are you what are they using y'all for?

SPEAKER_03 25:30

See, now I could see it going to like like McDonald's, Burger King, all of them. I could see it just going to straight up cooks. Imagine you walk up in there, and instead of the register, it's just three kiosks up there. You put in your order to cook, bring it up to you. Or a runner, cook cooking, and then the runner brings it up to you. I could see that, you know.

SPEAKER_01 25:49

Especially in California when the burger flippers are making $20 an hour. You gotta get rid of a lot of employees there.

SPEAKER_03 25:56

Man, speaking of California, we need to go squatting a house out there, man. Goodness gracious, man. Uh, so the story

$20,000 Cash for Keys in LA

SPEAKER_03 26:03

on that. So uh I was listening to the Bigger Pockets podcast, the Bigger Pockets rookie podcast. And there was a dude, he was buying these duplexes out in Cali, and he bought one, and it was um, I think one of them was already occupied, right? So he bought it. Um, he bought it. And after he bought it, it one side one guy was paying rent and everything, the other guy wasn't, and he was trying to get the guy out. And he goes, Man, you know, it's California. And you know, he called his lawyer, lawyer was like, Hey, it's gonna take this amount of time. He goes, Hey, fastest way to get him out is to get cash for keys. He goes, Like, okay, well, you know, how much do I gotta get him? He goes, You know, your average cash for keys out here is $20, $25,000. So I'm like, whoa. So he had to get this, break this dude off $20,000, bro. I was like, dang, I need to go squatting Cali, man. But he was specifically in LA, and he was like, Yeah, bro, he said the average cash for keys was 20 grand.

SPEAKER_01 26:55

I was like, damn, $20,000, bro.

SPEAKER_03 27:00

20 grand, and then they can just squat there, man, because the LA they just now it's is it a 3-2 on that side though? I think it was like a 2-1.

SPEAKER_01 27:12

A two-one? Okay, he'll still make four or five grand a month on it, so I guess he'll get you know, it's better than a year or three years without being able to get someone out.

SPEAKER_03 27:22

Take away a nine thousand dollar mortgage.

SPEAKER_01 27:25

Yeah.

SPEAKER_03 27:27

But I don't know, man. I I guess like you gotta pay to play. Because I was like, damn, I told Steve, I'm like, man, we need to go squat in some houses in California, just come back.

SPEAKER_01 27:37

Just go real quick on a vacation and squat.

SPEAKER_03 27:39

Right now, squat, running squat for a few months. I don't pay our salaries and everything else. 20,000. We come back with 20,000, man. I'm like, damn, what? Yeah, he said 20,000 was the average.

SPEAKER_01 27:55

And he paid it.

SPEAKER_03 27:56

I had to pay it to get him out. He had no choice. Like, you can wait however many years it takes in Canada to get somebody out your house. That's just ridiculous, man. It is, it is, and that's why I mean, I personally do not buy things that are pre-occupied because

Why We Don't Buy Occupied on the Coast

SPEAKER_03 28:13

I'm working with a client now and she's trying to uh buy a duplex, you know. And I'm like, I was telling her, I'm like, hey, it's hard to find like a fully unless you want to buy a new build, like a fully unoccupied duplex, all the duplexes on the market, man. It's hard to find a vacant duplex out here. So I was like, you go, we can go up on the price a little bit, go to like six, seven hundred grand, you can get a three-bed, two bath each side, but you know, and still lowball them, see what we can negotiate. But yeah, it's this I I'd be I don't mind buying something that's pre-occupied that's occupied here and in Arkansas, but over on the coast, man. Hell no, bro. That's insane.

SPEAKER_01 28:55

Heck no. Um one thing I heard, and it was and it was talking to uh like a cleaner I used to have uh, you know, kind of he's a buddy, and he would do the cleanings and stuff in Dallas and um handyman stuff. I was talking to him the other day because uh we were getting out of, well, we were still managing the ghetto unit over there, our last ghetto unit, we were still managing it, and we but the the late the girl, you know, she finally just you know got out of the lease and everything. And so he was gonna go, you know, clean it out and get get rid of everything. And um he was talking about how Dallas had changed the laws or the rules over there uh as far as getting expediting

Dallas Speeds Up Squatter Evictions

SPEAKER_01 29:32

people out that are that are trying to squat in Airbnbs and hotels.

SPEAKER_03 29:37

Oh, okay.

SPEAKER_01 29:38

What happened? Yeah, in those situations where they can expedite the the um evictions, yeah.

SPEAKER_02 29:43

They can. Yeah, they can expedite them.

SPEAKER_01 29:45

Used to they treat it like it's a regular long-term rental, but now if they if they see that it's through Airbnb or or a hotel situation, they can get them out quicker. That's what they say.

SPEAKER_03 29:54

I I've heard that, but this this is the weird part about that, right? So, you know, December 3rd, they have another hearing, right? They have the

Texas Supreme Court vs Dallas STR Rules

SPEAKER_03 30:02

hearing to they're they're gonna listen, the Supreme Court's gonna listen to the city of Dallas.

SPEAKER_01 30:06

Texas Supreme Court, yes.

SPEAKER_03 30:07

Yeah, so I'm like, hmm, why are they are they putting those rules in or the Supreme Court who's putting those rules in? Because Dallas is clearly against it, so I don't know.

SPEAKER_01 30:15

Yeah. So I well, I I heard it was yeah, it was the Dallas uh rules, regulations. But but um you mentioned that that you you thought the Supreme Court was gonna, you know, vote negatively on on the Airbnb situation. I I I countered that a little bit because I said this the Texas Supreme Court, they said they had that big ruling about HOAs can't tell you that you can't do short-term rentals. That was a big that was a big deal.

SPEAKER_03 30:43

Austin stirred the pot on that one, right?

SPEAKER_01 30:46

Uh Austin, yeah. Yeah, yeah, yeah. Yeah, they stirred the pot on that. And so they that was a big deal. And the other one they they voted um favorably on, not a hundred percent favorably, but it was pretty favorably was on the co-living. And they they they kind of they wanted it, the Texas Supreme Court wanted to pass a bunch of like um legislation where you could pretty much do it anywhere, but at the end, you know, they they're you know, you know, they got some whispers in the ears and money in the pockets, I'm sure. And and so they uh you can't, it's not totally illegal in the whole state of Texas. It's it is where like college stations with a population under 25,000. I don't know, it was something like that. College uh cities under 25,000, bigger cities can still do what they do, they can still ban it if they want.

SPEAKER_03 31:36

Okay, break that down for me because um I do have people buying up houses and pad splitting them under the assumption

Is PadSplit Legal Everywhere in Texas?

SPEAKER_03 31:43

that it is fully legal in Texas by the sex Texas state law. So break that down.

SPEAKER_01 31:50

And that and that was uh that was a misconception. Let me let me pull up the what I pull up my little synopsis that I sent to um Sam Wiegert. He's a big big wig in the space, right? Okay, and I was listening to his podcast for a while, um, and he and he actually quoted it wrong from what was because he was saying, oh, you know, here's a list of all the cities of all the I mean of all the states that are uh Pat Split friendly, right? Or or they call it co-living, not just Pat Split. Yeah. Um let me see. Sam Wiegert, here we go. I I had to correct him. I I I send him a message. I said, hey Sam, you know, I love your podcast, just got uh

Correcting a Co-Living Podcast

SPEAKER_01 32:27

let me see, started uh co-living, you know, blah blah blah. Uh one thing you said on your on your most recent podcast is that the Texas uh frat house bill, which is probably what you're referring to, okay. Uh, but you made an error on it, uh, which is a pretty uh impactful error. He's uh you said the cities over 250,000 residents can't ban co-living. And it's actually the opposite. So cities um that are uh that are over 250,000 can ban pad splits. So that would be your Fort Worth, Arlington's, Dallas, um, big cities, over 250. He thought it was he thought it was over 250,000 couldn't ban pad split, but it was he had it in reverse. Two cities over 250,000 population can ban pad splits. Uh limited uh limitation of the law exemptions uh exempts larger

The 250,000 Rule and the 20,000 Students

SPEAKER_01 33:25

cities. Uh amendments were added to the bill to exempt larger cities with populations over 250,000, including Fort Worth and Arlington. The laws the law applies to cities with populations under that threshold, under 250,000, that are home to a university with an enrollment over 20,000. So it has to be a big university that has an enrollment over 20,000 students.

SPEAKER_02 33:51

Okay.

SPEAKER_01 33:52

And it does not, let me see, it also does not apply to homers associate homeowners associations. Uh HOAs can still institute their own occupancy restrictions, and it does not uh prevent regulation of new uh I can't read my own word, new nuisances. Okay, cities can continue to regulate nuisances on issues like parking noise and trash. So,

Parking, Noise and Trash Still Apply

SPEAKER_01 34:20

yeah, if they find out this house, people are parking in the street, like that's a big thing with Grand Prairie and Arlington and most cities, uh at STRs, you cannot park in the street, you can only park in the driveway. So if a city wants to crack down and say, hey, this cool living place, blah blah blah, uh, people are parking in the street, or you they you know, we we will allow it, but you have to everybody has to park in the driveway, which how are you gonna do that, you know? Unless you have a huge driveway or you make you cement the whole backyard or something what some people do. But you can really technically in a in a in a in a driveway that parks four cars, you can only really park two because you'll be blocking in the other pad mates, right? Yeah, so so it it'll make it they can put all these, in other words, they can put all these rules to make it very uh very hard to do co-living if they wanted to.

SPEAKER_03 35:08

So I'm happy you were you brought it up. So it is called the Texas Frat Law Frat House Bill. Frat House Law Senate Billy. Yeah, Senate Bill 1567. So it went into effect September

SB 1567: Richardson and Denton Qualify

SPEAKER_03 35:22

1st, 2025. So the main city that it brought up, because I'm using Claude to look this up, is Richardson. Richardson is a city that would qualify.

SPEAKER_01 35:33

They have under 250,000 university? UT Dallas. And over 20,000 students.

SPEAKER_03 35:46

I don't know, but it said UT City of Richardson does not have okay, the law is narrow, it applies to home cities with fewer than 250,000 a campus. Dallas, Fort Worth, Arlington, Plain on Irving because they're too large. Even though UC Arlington has over 40,000 students, but it has too many residents. So DFW cities, it clearly covers Richardson and Denton. Wow. That's good information to know.

SPEAKER_01 36:17

Yeah. So it yeah, it really limits uh where you can do it big time.

SPEAKER_03 36:21

So it's so the only Okay. So that's so for our listeners that are in here and planning on doing this in the DFW. So to be clear, the only two cities that fall under that law are Richardson and Denton.

SPEAKER_01 36:34

In this area.

SPEAKER_03 36:35

In this area. In the DFW. I'm just talking about the DFW area. Yeah, it would be Richardson and Denton. Um cities that might also be covered but unclear would be Hearst, McKinney,

Maybe: Hurst, McKinney, Frisco and More

SPEAKER_03 36:51

Frisco, Allen, Wiley, Farmers Branch, Mesquite, and Lancaster.

SPEAKER_01 36:56

Okay, Hearst, um, I guess they have TCC right there in Hearst, right?

SPEAKER_03 37:00

Northeast Northeast Campus.

SPEAKER_01 37:04

Even though that's is that Hearst or North Ocean Hills?

SPEAKER_03 37:07

Oh, they're calling it Hearst.

SPEAKER_01 37:09

Okay.

SPEAKER_03 37:09

If it is you're right there on the cusp, right? Of Hearst and N R H.

SPEAKER_01 37:13

Yeah, yeah. Now, if it is, that's that's a good thing. I mean, that they can't. Now, like I said, if they want to start saying, well, you can do it, but nobody can park in the street, they can do stuff like that. That's the that's the issue.

SPEAKER_03 37:24

Oh, that's the kicker. That's the kicker.

SPEAKER_01 37:26

Oh, you can do it, but you better have to uh this uh $30,000 sprinkler system and and fire system put in your house. You know, that's that's where they can get you.

SPEAKER_03 37:35

Yeah, it's it's basically it's red, they red light in it. I mean, kind of you're like you're basically you're not I'm not gonna say it's illegal, but you can I can put I can put red tape on it.

SPEAKER_01 37:48

Yeah. So that yeah, going all the way back to what the Supreme Court's gonna rule, and maybe they will rule favorably in in the the fight today. I don't know if they will. Um I forgot. I think I think what happened with Grapevine, I read up on that because that went all the way, was gonna go all the way to the Supreme Court, and then they kicked it back down.

Grapevine, Gaylord and Hotel Money

SPEAKER_01 38:09

They said we're not gonna we're not gonna rule on that.

SPEAKER_03 38:13

Yeah. But Grape Grapevine got the money.

SPEAKER_01 38:16

They banned it. Yeah.

SPEAKER_03 38:17

Grapevine got the money to put some sprinkle a little pockets. You have to look at that as well.

SPEAKER_01 38:22

The Gaylord money.

SPEAKER_03 38:23

Yeah. And I remember back in the yeah, Gaylord and the uh the other ones up there too.

SPEAKER_01 38:27

Uh Great Wolf Lodge.

SPEAKER_03 38:28

Great Wolf Lodge, you know, and I remember we hotels, major hotels there, yeah. Major hotels. And I remember we talked about that back in the day, whenever and also Grapevine's like a nice A-class neighborhood. Because, I mean, at the end of the day, you have to look at it like, okay, you start going into like A-class neighborhoods and doing like Airbnbs, it's always going to be an issue. You know what I'm saying?

SPEAKER_01 38:49

You know what's interesting, a ton of investors are are are building passports in Houston. And

Houston and PadSplit's West Dallas Builds

SPEAKER_01 38:56

Houston seems very I'm not, I can't say what part exactly, but they they they have they're they're they're like kind of like they're saying Houston's very welcoming to it. And I remember the same spiel when Houston was it was the Wild West with Airbnbs, remember back in the day? So it got super saturated really quickly.

SPEAKER_03 39:15

Yes. Houston's still notorious for that. Because if you ever go to Houston, Houston has really weird zoning laws that create just a lot of like when it comes to business, like a lot of war zone type business, like you'll have a house sitting next to the turkey leg hut, like all types of weird, it's just real weird, like you know, and like when Airbnbs were going crazy down there, just let them run amuck up. I don't know, I don't know if they're gonna do it to um pad splits, but they might. And Houston's always the city of like, you know, get in, get in, get in. When everybody gets oversaturated, get out, get your money. You know, you made your money. Um, I didn't know they're setting them up in Houston. I would be interested to see what part, like by University of Houston, or I'd be interested to see what part.

SPEAKER_01 39:56

And pad split themselves, I believe they're building they're building some in Houston. Like they're building these like four-level pad splits with like um I don't know, three or four bedrooms on each level, and every bedroom has its own bathroom. So they're building these like from the ground up. I've seen those.

SPEAKER_03 40:15

They're in West Dallas.

SPEAKER_01 40:16

They have some in West Dallas, too.

SPEAKER_03 40:17

Yeah, yeah, they're in West Dallas. Uh they're are they you're telling how you're telling me? I'm telling I it sounded like they're building those in the hood. I can already tell because that's what they did in West Dallas. They built them in the hood. Um, they just built like like I seen one, the first floor, you have a garage. After that, you go up, it's a kitchen and a bedroom. You go up again, another bedroom, go up again, another bedroom. Yeah, they built them up. They're they're building them like tall and skinnies, like in New York, in Nashville.

SPEAKER_01 40:52

On the rooftop, they have the rooftop.

SPEAKER_03 40:54

Yeah, yeah, they're building those.

SPEAKER_01 40:55

We did a we did a couple uh get meetups at some of those. Yeah, yeah.

SPEAKER_03 40:59

I had I pulled the pictures for those. So uh yeah, I pulled the some pictures for those. Yeah, we we had a meetup at one of those.

SPEAKER_01 41:04

They're on sale right now. Oh, they're I I bet. I bet they're asking, you know, way over a million for those when they first came out. Now they're they're on sale. The thing is with those particular ones, those square body ones, uh rectangles they're building, yeah. They they kind of build them really fast and really crappy.

SPEAKER_03 41:21

Yes, I agree. I agree.

SPEAKER_01 41:24

And since it's a flat roof on top, all the water was going down the walls and messing things up. Yeah, there were big issues with those with those builds.

SPEAKER_03 41:30

Yeah, bro. Yeah, you gotta watch what you build uh what you buy because yeah, design matters. Design matters, stuff like that. Um, so I I went I went further. And it said Frisco likely qualifies. Uh it's a home rule city. Frisco has run under a home rule charter

Frisco's Census Could Flip It

SPEAKER_03 41:48

for decades, which I didn't know. Probably the population under 250, 250,000, probably. Yes. This is still saying probably. So 2020, Frisco's 2020 census count was 200,000. Um okay, and this is what I don't like about the population thing. Let's say you do start a bunch of pad splitting the city because Frisco's 2030 census is supposed to be at 249,000.

SPEAKER_01 42:19

Right on the cusp.

SPEAKER_03 42:20

Yeah, that's that's they're projecting that in 2030. So you if these cities keep growing, which you know Frisco's gonna grow, bro. Um you're now at the you're kind of at the mercy of the city if they're doing it. But they're they're they're saying bottom line, Frisco very likely can't enforce an unrelated occupancy cap through zoning. It can still apply bedroom limits, building and fire codes, and HOAD restrictions.

SPEAKER_01 42:46

That's that's the thing. That's the thing.

SPEAKER_03 42:48

Yeah. So you're taking a risk.

SPEAKER_01 42:50

That's what these cities, instead of fighting the all these things with lawsuits and stuff, like the air, the short-term rentals and all that. They should have just let it allowed it, but then put all their like some cities, some cities did that, right? Oh, we'll allow it. We're just gonna add all these freaking rules that cost you a hundred thousand dollars to equip this house, and then you can do it. You know, yeah, and then it's for safety.

SPEAKER_03 43:11

Yeah, and then you have a certain class only doing it, right? People that can afford to do that. So, I don't know, it's it's interesting. Um, but it does, but at the moment, Frisco does fall under the population limit. It has the college campus, and it's a home rule city. So I I would say I would lean toward Frisco being a yes as of now. Not saying it is, but from what it looks like, we'd have to do deeper research, but it fits the population right now.

SPEAKER_01 43:39

Now, here's the play right now, if you want to make money off of co-limit, right? I give get with our buddy LeBron uh LeBron.

Turnkey PadSplits With a Flipper

SPEAKER_01 43:49

Major, major height difference between those two. Slightly. He's right at waist level. So sorry, sorry, Jabron. Uh uh. So get with our buddy Jabron. He's a flipper, you know, he's a flipper, a house flipper. Tell him, look at this. Look, let's get central Arlington, Central Grand Perry, and hoodish, hood adjacent. Let's, you know, either you're gonna flip this house anyways, you know. How about making it a turnkey pad split? Turnkey co-living and show this people listen, this is the income you're gonna make on this thing. You thought you'd make two grand a month, you're gonna make over four grand a month. And the walls are already, it's all ready for you, man. It's turnkey. Now, you gotta find the investors that are want these things first, right? Before you go and do build it like that.

SPEAKER_02 44:36

I think they're coming. I think they're coming. They're coming.

SPEAKER_01 44:40

Because that's what that's what an investor like me, you know, if I was still really trying to hunt down these um path splits, you know, I got a little gun shy. after I no real guns I got I got gunshot after after just hearing the the like like the stuff you were sending me about these ladies bringing it up and trying to you know city council to look at it and all this stuff I was like oh crap here we go again I better slow down on these um but like that's what I'll someone an investor like me I could buy a house that's already set up that way instead of buying one and going there with my contractor and then having to drop another 10 15 20 grand to get some walls and some you know ductwork and all this crap right so so for me as an investor it'd be great to have a turnkey pad split that's gonna cash flow you know $4,000 a month.

SPEAKER_03 45:30

But that being said you know investing is a risk right it is never know they're gonna change the laws it is um another thing like like another thing like a good way to get some pad splits right now is go into these areas where um a

Auction Deals in Princeton and Anna

SPEAKER_03 45:46

lot of uh properties are in the auction Princeton Anna Forney like you can get some good deals off the auction and if those houses are just sitting in the bank's holding them I don't know if those cities qualify but you know if you want a pad split short term midterm that's a good place to buy some houses right now because man it's a few good houses in the auction right now a lot of good houses so you know maybe even find something like maybe up in Frisco I didn't see too many in Frisco though uh I've seen like Anna Princeton um but you know if you know the cities Denton I would look at Denton see what you can find but uh do you think I've been I've been looking at Denton yeah yeah see I think Denton Denton fits the rule and I think you could like like how you were trying to scale I think you could scale in Denton and wouldn't wouldn't have to worry about anything. Because it's under 2500 people yeah and I think I think Denton will stay under 250 and the reason why is because you have like Tetra pack up there like the big manufacturing companies and you have a college and then if the college students they they're in and out so the population's steady doing this.

SPEAKER_01 46:55

It's a freeway town man.

SPEAKER_03 46:56

Yeah that's exactly what it is that's exactly what it is. So I think and and I think the freeway

Denton: PadSplit It and Quit It

SPEAKER_03 47:02

town fits the pad split model. You know what I mean? You're getting what you're getting hey I'm not got enough to get an apartment now. Boom stay in my pad split until I do I think it's a perfect opportunity out there.

SPEAKER_01 47:13

So in other words you gotta pad split it and quit it.

SPEAKER_03 47:16

Basically there you go it's exactly what you gotta do man. I would I would I would look I would go hard on um Denton if I were you I would look into it.

SPEAKER_01 47:28

I'm looking I'm looking now I'm not out of phase right now when do you do you plan to retire or do you what are you looking at as far as retirement from from the day job um

Myka's Number to Retire

SPEAKER_01 47:42

I need at least what 14 more no eight more ten more doors I'm just looking for cash I just want to be able to let my rental properties be paid off 15 doors paid off 14 doors paid off whatever that number is have those paid off pay me X 20 55 30 thousand a month and I'm done $20,000 a month cat cash flow coming in I'm still doing Airbnbs doing that and then I'll consider quitting but I'm it's gonna gotta be a while to be there but I I would consider it but I don't know I like my job I do a lot of AI stuff so I ain't tripping on it but and then how man health insurance is a bitch so you know I don't have any you I don't have any plans as of now but I would I'd be looking at different options like hmm how would I want to spend my time if I had that taken care of and I had good health insurance for me and my kids how about yourself so I I'm a little older than you I'm I'm 49 right yeah and um and so next year's the big

Steve's Plan to Retire at 49

SPEAKER_01 48:49

five oh oh what you doing for the 5-0 bro we're gonna have to have the turn up as y'all say the turn up yeah 5-0 man yeah I'll let you know I don't know exactly how it's gonna how it's gonna go out but but yeah so so I would like to you know we've talked about retirement on this show before we've gone back and forth on it but my goal would be you know because right now you know it's tempting to go try to put some more down payments on houses and do this and do that you know but I'm kind of like holding myself back I'm like let's pay these debts off first let's pay these business loans off first right and I and then this next month I'll I'll be knocking out two of them big business and gone so that's gonna be a big uh uh lift off uh off of me you know uh I just was trying to grow and scale and grow and scale and all that stuff and then you could accumulating debt you know and that's and if when I'm reading about all these founders you know the Nike guy and all this they all did the same shit it's not like we're not unique to this you know it's like well let's grow it's just let's just get out there we're going I'm growing too slow I need some debt but then you know you got to pay that debt back with interest and so what I when you start when I start doing the numbers I'm like man if I get rid of these loans I got plenty of income coming in to support us you know and if I can it my wife I was telling my wife I think I want to retire next year as soon as these loans that these are gonna be knocked out like towards the end of the year I would love to retire when I'm still 49 even if it's on the day before my birthday because I can the rest of my life I can say I retired in my 40s. Yeah you know 49.999 you know you say you retire in your 50s okay that's pretty good you know many people don't do that nowadays people work to their you know 70s you know real it's like it's like common now it's crazy but if I can say I retired in my 40s technically that's that to me that's like a that's a big accomplishment so I'm working towards that paying off the debts now I still I'll acquire homes but only if I can get them for zero down that's that's what I I'm telling myself and then hey with this with this uh the way real estate's going around here I might be able to pull that off and like hey I'll take over that house for you you know you can't pay it's gonna go you know it's gonna you're gonna lose it anyways I'll take it zero down and I'll take over the payments that's the best part about freedom right there you can choose and you ain't in no rush you just chilling and you get the best deals see because once I've had my my doors paid off I really think I'm gonna probably go into multifamily man like I don't care if it's small multi like a little five ten units here and there little apartments little boutique hotels you know just stuff that you can try and implement so yeah that's the exciting part about it you know just focusing on that and then knowing you have the freedom to do it freedom option and choice man yeah and my wife asked me oh what about insurance you know that's that's the big everybody talks about it I was like well

Health Insurance After the Day Job

SPEAKER_01 51:42

at my job you know depending on what you get on your insurance it's it's been about four or five hundred bucks a month I'm paying you know it's it's subsidized through the work used to man when I first started there it was just a few pennies a month and now that they kind of like it started putting more and more burden on the workers you know yeah so we're still getting a discount but not like it was you know so it's like four or five hundred bucks a month covers us I've already been looking I've been talking to a guy um friend of a friend and he he put a similar one it was around a thousand to eleven hundred bucks a month so if you look at it like that as a line item okay I'm gonna be paying probably double for insurance maybe a little more than double I need your guy yeah I'll send him I send him your way and then the cool thing is now he says well now you know you're young and healthy is the best time to to to try to get these insurances right yeah um and so you could you could even try put in get get you know get the physical and and then see what see what they offer you right you don't have to buy it of course but anyways uh I'll send you my guy um and so that's the thing if you look at it like that yes you'll be you'll be saving money you know five or six I'll be saying five or six hundred a month but how many more rentals or how many more management clients could I pick up if I really was doing that focusing on that you know I could you know I could pick up a couple more properties uh that are gonna cash fill me a thousand bucks each if I'm really focusing on that instead of having to go to my day job and all that um so it it is um what is it called the the time the a time um I forgot what that term is that what where can your your time be better spent yeah yeah yeah yeah yeah yeah that's true yeah I I forgot how they say that but um and I think you know if I and just the whole thing not having to wake up at 4 a.m to go to my job that's gonna be nice that's gonna be nice that's tough and um and if I do retire um next year my kids will still be pretty pretty young and I can get a whole chunk of time with them you know that's good um because that you don't get that time back and um and so that's that's my that's my goal my short term goal is to retire next year before I turn the big five oh so I'll be retired in my 40s.

SPEAKER_03 53:54

Congrats man let's go paying off the debt and that's what I'm at I'm I'm focusing on right now is just paying off the business debt. I just gotta once I get out I just have one B lock to get out from under and then I'm gonna just start using that money to do some more burrs and then roll the furniture costs in and then once I get to the number start paying them down just pay them down yeah man I I feel you congrats on that because yeah it's it's the debt because like I know me you and Jabron have been talking about it you were like man Michael maybe there is something under this debt thing man I'm like I'm telling you man you get off from under that you just have cash flow coming in can't beat it can't beat it. Yeah so yeah I thought I'd share that with you man oh yeah congrats man so another thing oh go ahead go ahead now go ahead just as real quick don't don't don't lose that that thought um we're we're teaming up with with Julie George and we're we're so an episode if you listen to this episode you already heard the the

Julie George's Mastermind

SPEAKER_03 54:53

Julie George episode so that that that's um we're kind of teaming up and and jumping on masterminds with Julie George you might know who she is uh she's oh let's do the book here million dollar host she's pretty famous uh she's she's all over the place um but she has masterminds with a lot of the big wigs in the industry including us and so we're gonna start um sitting in on those and then recording the the good stuff that comes out of it because these are heavy hitters these are heavy hitters man and that's what you want to be in the room with right straight up yeah that's the thing like I said I'm I'm at if I'm at my day job eight hours with people that are just griping and complaining all day about whatever they they owe us this they owe us that that's not the that's not the energy I want to be around I want to be around people that are like these on these these masterminds these heavy hitters that have got like a hundred properties that are doing this they know about insurance they know about they know about everything right they're they're just 100% dialed in that's and that and then I'm I'm comparing what I'm doing to them and I'm like oh shit I need to bring up my game right yeah at work I feel like a big they call them the oh it's the real estate uh guru or this they you know they call me the the the whatever the the the big the big wig um but I when I get around people like that I feel like a small fry yeah that's that makes you grow that makes you grow straight up man the 10 people you surround yourself with they say right yep show me your was it what the guy say show me your friends and I'll show you your future straight up show me your friends I'll show you your future but and and oh go ahead go ahead I love the guys at work I'm just saying you know that yeah that's what I'm I'm just saying I'm gonna be honest I know what you mean but like I'm gonna be honest one thing I like about my job I work with other entrepreneurs and it's really it really it's really helpful like they think about it too like oh let's start this business hey let's do this you know and that that growth mindset it really helps you it really helps so yeah I I know what you mean yeah but you you do always get your one and two gripers one here and there you try to avoid them because they're always gonna be finding something to complain about man for real I've been man I used to work with one man complain the guy would complain about a wet dream man like damn brother you ever happy god dog god dang man it went it win a 10 million dollar lottery and complain about paying taxes exactly like it's crazy so but yeah man I I know exactly what you mean but um yeah but to um piggyback off what Steve said we're partnering with Julie and George if you look at our last few episodes shout out to our um assistant Claude it went ahead and put Julie's links under all those past episodes fast few episodes so y'all can check it out click the link um I don't know why the sign up code was Micah it should be LLT but somehow it came up to Micah so I'm gonna talk with Julie to see if we can get that changed but for now you just type in M Y K A all caps and it'll give you like a little discount thing um that is coming back to Live Light Thrive.

Section 8 Cut the Rent to $700

SPEAKER_03 57:40

But yeah that's happening and uh one thing I am speaking of I'm not I'm not complaining here but one thing I learned about Section 8. I'm going through some Section 8 woes. They can just lower their payment right so they can be on a lease for $1200 a month but Section 8 will just like change it up like if something happens in their file like or if they get some extra income they'll be like hmm well we'll just pay $700 you have to go after the tenant for the rest. I'm like oh shit wait what so that's the situation I'm in man so mahogany talks to all our uh long-term tenants well we only have one and she you know she stays in good with her and she knows she called her and she was like yeah I don't have the money to pay that right now and I'm just like but the section eight people were like oh uh we sent a notice out in September that y'all were gonna get loads I'm like uh that notice said we were getting $1200 and you were just assessing her file so I'm having to fight with that right now so I'm getting I'm having to come out of pocket $100 for uh my mortgage over there so I'm officially in the losing money game part of part of the game though right so I'm I'm learning how to navigate that so uh that's the fun thing about this real estate stuff you always go through trials and tribulations and you learn yeah man that's uh there's only two guarantees in life death and taxes right and 80 and Ocho Cinco is always open always oh man what do you say there's

Ochocinco, Nightcap and Fake Jewelry

SPEAKER_03 59:12

only two things guaranteed in life death no three things death taxes and 85 and always open now he he's he's funny I I like listening to him on um uh club well not club sh uh the nightcap nightcap yeah yeah they had a they had a field day yeah yeah yeah go ahead yeah they do shout out to you uh shout out to uh my boy Joe Johnson hometown hero Little Rock so I gotta give a shout out to Joe Johnson because he's on uh nightcap now so I gotta give a shout out oh he's from your town yeah yeah yeah yeah he went to high school with my sisters my cousins everything yeah shout out to Joe Johnson man that's big time man no but when they when him and uh Shannon Sharp uh start talking uh it's it's just hilarious man uh uh they start well they had a field day with that uh 49ers uh fake wide receiver yeah they had a field day ocho he just oh chocolate and uh but he it he's smart man because because like when he came up he was he would have the fake jewelry on he didn't spend hundreds thousands of dollars on jewelry I love ocho bro he like drives a little smart car like I love him like nah man I don't spend money I'll be like damn but that's why he still got it he like you know spending money yeah he like serious about it too he's like nah I got a little smart car I was like what the but hey that's how you do it that's how you do it bro that's how you do it yeah so he had fake jewelry he said nah I'll go buy fake jewelry I'm like damn but I I respect it I'd probably be doing the same shit but yeah big time big time right up oh man it's a good episode hell yeah man this was a good episode man real good stuff um so yeah you can uh find us live let thrive at gmail.com instagram tick tock and then remember to join the uh Julie George's mastermind and you will see us on the call so you'll be able to network with us network with real big wigs bigger than us and grow your business 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_00 1:01:32

Bye bye