[00:00:02] This is Short Term Rental Management, the show that is all about short term rental property management with your host, yours truly, Luke Carl.
[00:00:16] Short Term Rental Management with Luke. I love you. I'm hiring careers at the short term shop.com we are hiring coaches for short term shop. Plus I need another coach or two to provide excellent value to our members.
[00:00:32] Feel free to shoot us an email. Careers at the short term shop.com I'm also looking for guests if you want to come on the program. Talk about real estate.
[00:00:42] Love to have you
[email protected] we're also hiring agents. We need real estate agents in a lot of the best vacation rental markets in the US and the Smokies in Orlando and Myrtle Beach. Specifically, please email us careers the shorttermshop.com or theshortermshop.com careers if you live in a vacation town, want to talk about what it's like living in a vacation town? If you're a vendor, a plumber, an electrician, love to have you
[email protected] today I want to talk about paying attention to your real estate because I see a lot of times where people only get involved when things are not good. We've talked about this a little bit in the past. For instance, you had a mortgage payment hit, didn't have enough money to cover it, and you're saying, oh my goodness, this house stinks.
[00:01:46] Damage control is not a good way to handle investments.
[00:01:51] We're seeing that with the stock market right now at the recording of this podcast. The stock market has gone down the tubes. Hopefully it's recovered by the time you hear this.
[00:02:03] But waiting until something bad happens is not a good idea. And luckily things are not nearly as volatile in the real estate as they are in the stock world.
[00:02:14] Things move very slow in real estate, which is a good thing. We want things to move slow and low. Baby, let's take our time again. What you're doing here is you're setting up future you for a better life. And that is a long time from now.
[00:02:32] To quote the late great Prince Dearly beloved, we have gathered here today to get through this thing called life.
[00:02:44] Electric word. Life. It means forever. And that's a mighty long time.
[00:02:49] But I'm here to tell you there's something else.
[00:02:53] The afterworld.
[00:02:56] A world of never ending happiness.
[00:03:00] You can always see the sun, day or night.
[00:03:04] That's the world you're looking for right now. Future you, the afterworld.
[00:03:12] I'm not here to get biblical today, even though my name is Luke, named After the good doctor.
[00:03:20] All right. But man, Prince is good, isn't he? Oh, this is going to be a Prince kind of day. I can feel it. So good. He is so good. I never did get the pleasure to see him live.
[00:03:32] So good. That comes from a song called let's Go crazy, by the way. 1984, man. Gives me chills. Anyway, you are setting your future self up for success in real estate. It's slow and low, but I see it time and time and time again on social media. And of course, that's what happens on social media. That's another thing I want to point out about social freaking media, which I do have a lot of fun on Instagram. Please join. Please follow me on Instagram. Luke Cashflow Carl. We're always having a party on there.
[00:04:06] I'll spend a ton of time on there. But I do spend, you know, a few posts a week.
[00:04:12] Anyway, what happens is things aren't going well. You, you, you know, usually you fell behind, you weren't paying attention, your kids are busy, the kids got sick, somebody got sick, the dog's throwing up, and the, you know, work gave you another project to deal with, your kids got a recital, and life just flies by. And then all of a sudden you got this damn property that didn't hit the mortgage payment.
[00:04:39] It's completely and totally understandable.
[00:04:45] So to a certain extent, I'm not mad at you, I get it. But you can't roll that way. You got to pay more attention. You got to slide 5 minutes in the morning during your coffee in. And if you get to the point where you can't do that anymore, hopefully you're two, three years deep and the property's just sustaining itself and you're still going there and using it. That's a big thing for me with the vacation houses. So I do want to point out the social media thing. If it's to the point where you're going to social media and posting, oh, my goodness, I'm not getting as many bookings as I would like. That's past the point of no return. You should have fixed it before that happened. And guess what? The people that are. Here's what I really want to hammer home. The people that are doing well are not hanging out on Facebook unless they're trying to sell you something.
[00:05:33] So keep that in mind.
[00:05:35] Keep that in mind.
[00:05:39] Now I will say the client club, the short term shop client club, which you have to be a client, you have to buy a house with a shop to get in there. It is a little Bit more of a good vibe a little bit.
[00:05:50] But Facebook in general, the people that are rocking it and crushing it are not hanging out in there unless they're trying to sell you something, myself included. We're trying to sell houses. I don't want that to be a secret. The shorttermshop.com we sell houses in vacation rental markets and we would love, love, love, love, love. Love to earn your business. If you're looking to buy a beach house, simple as that.
[00:06:10] Love to earn your business. But if it's to the point where the property's gone downhill, it's too late.
[00:06:17] That's my point.
[00:06:19] If you're new to vacation rentals or want to up your game, we are here to help. The experts at short term Shop plus can help guide you in your mission to create memories for your guests at wonderful overnight rentals. We have one on one coaching available with our experts and the price is right. Short term shop plus is inexpensive and we would love to earn your business. Please join
[email protected] that's stsplus.com and I do want to say that this translates to other parts of your life.
[00:07:03] Your money.
[00:07:05] You've got to keep an eye on your money. As a guy that used to be broke, born broke, you got to keep an eye on your money or it will disappear.
[00:07:15] It will. It's going to walk right out that door and you're not even going to know what happened. It's no different than what's going on with your property. So you got to pay attention to your money. You got to pay attention to your property or it will go away.
[00:07:29] So if you look at your bank account and you're broke, it's too late. We gotta spend time on this every day. Work on a personal financial statement, look at it, pay attention to it. It's no different than marriage.
[00:07:42] You've got to work on it. If you wake up one day and you say, oh crap, this isn't going well, it's too late. Matter of fact, there's a book on that subject. Gonna give you a book suggestion today. If you're in my office, it's already too late. I read a lot of books. I read a lot of marriage books. I read a lot of dad books. I read all the books. That's a great book. Super underrated, has zero reviews.
[00:08:07] It was written by a divorce attorney. I have no idea how it came to my attention because I'm very happily married. But it was great and I flew through it. It was great. I loved it. If you're in my office, it's already too late. A Divorce Lawyer's Guide to Staying Together.
[00:08:23] It's kind of funny, though, because he was divorced, But James Sexton, Esq. Wrote that book. Great book.
[00:08:32] Go read it. Trust me, if you're a husband and you want to be a good husband, you love your wife, go read that book and about 42 other marriage books.
[00:08:44] I love that. If you're in my office, it's already too late.
[00:08:48] Just that quote alone is great.
[00:08:51] Also reminds me of how you do one thing is how you do everything.
[00:09:00] How you do one thing is how you do everything. Brandon Nancell is is, according to the Internet, credited to that quote. Now, I have heard that quote several times in several different platforms, et cetera, so I don't know for a fact that that's where it came from, but he's right. How you do one thing is how you do everything. Giving you lots of quotes today comes from a book called one percent Success Habits by Brandon Nancavel, if I'm pronouncing that correct.
[00:09:31] And that is true.
[00:09:34] Don't think about that too hard though, because then the next thing you know, you're looking at your bathroom countertop and it's a mess and you're like, oh man, my whole life is a mess. Which mine's not, by the way. I'm not saying that it is and you'll never know. But don't think about that quote too hard. But to a certain extent, you know it's true. Are you half assing things or are you finishing what you started?
[00:09:56] How you do one thing is how you do everything. So with this property, if you're getting to the point where you're posting on the Internet, it's too late, man. You need to get to work on that thing. Pay attention. Respond to guests faster. That's my best recommend. If you're looking for a way to fix that. Respond to guests faster. Give them a call.
[00:10:12] It is better to have messages happening on the platform, in my opinion. I think that in some weird way that does help. Algorithm. Oh, this host is doing a lot of messaging. Let's send them more business. They're popular. A lot of messaging. Type. That's my typing sound. Can you, can you hear me typing?
[00:10:30] If things aren't going well, work harder. Get more messages going. Get more action going. 6x back to the Instagram thing. It's the same thing there. If you're not getting any Instagram hits or followers, it's because you're not doing any work. It's pretty damn similar with a vacation rental or a short term rental or an overnight rental or whatever the hell you want to call it.
[00:10:48] Damage control is not the way to manage.
[00:10:52] Fix it before it happens.
[00:10:56] Build a dam and let the water collect above the dam in the pond.
[00:11:03] If the dam breaks, all your money is flowing down the river.
[00:11:08] All right, I love you. Already gave you several quotes, but I do want to say on behalf of short term rental management, don't overthink.
