Think Bigger

[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. [00:00:17] Shorts and Rental Management with Luke. I love you. Today we're going to talk about thinking bigger. Think bigger, think bigger. Okay. I just see it, I see it a lot. This is something that comes up often where people are like completely scared of a house and it's just not a big deal. I wish I'd have known then what I know now. You know what I mean? Like when I first started, I was in the same boat. I was scared to death. It's scary. Oh my God. I got a H Vac, I got a roof, I got an extra roof. Now the one. And the house I live in is scary enough and now I got an extra one. It's scary. I get that. But man, if I could go back in time, I would have smacked that guy in the face. And I'm talking about myself and I would have said, stop thinking so small. Think bigger, think bigger. [00:01:00] It's, it's kind of a, it's a funny thing because I see so many people get into this and they like, they get hooked on it. They want it to be their new career and it absolutely can be, but they get stuck on all the wrong things and just worrying about stupid little single family homes, which I hate to say that, but at the end of the day they're kind of, they're, they're not that big a deal, you know, and it's great. I feel wonderful being able to say that as a guy that, you know, when I first started it was like, oh man, it was such a huge deal to buy a house. [00:01:29] But if I know then what I know now, which is to stop making it such a big deal. It's not a big deal. It's just a damn house. The real estate industry is a $100 trillion industry in just the United States of America. Hundred trillion dollars. Now what that breaks down to, I don't know if it's, you know, actual property values, if it's people, you know, with jobs in real estate, the real estate sales industry, the syndication or rehabs, construction, I mean it trickles down right all the way down to the pest control guys and then whatever else. [00:02:14] But if you do a quick, you know, search, AI is going to tell you 100, over $100 trillion, 100 trillion dollar industry. [00:02:25] So if you're sitting around sweating a house, stop that. [00:02:30] I mean, even this show is a little bit on the small side, you know, in some cases. Again, this is A super niche down show. And I'm not trashing on my own show here, but it is very niche down and, and it is thinking a little bit small in some cases because short term rental would generally, to people of, you know, high, whatever, net worth, etcetera, Are going to instantly think about hotels. It's really a hotel industry, but we've turned it into the everyday, simple man industry with these overnight rental single family homes, otherwise known as a VRBA or an airbnb. [00:03:10] Right. [00:03:12] So the entire concept of what we're talking about here with short term rental is fairly small thinking. [00:03:20] It's not that big a deal. If you want to buy a beach house and rent it out when you're not there, go for it. It doesn't, you know, like, I don't, I don't know if you realize how many wealthy people there are in the world, but there's a crap tonight. [00:03:38] There are. And you realize that the deeper you get into real estate, you know what I mean? When I first started, I was like, oh man, I'm never, you know, there's people, you know, I just grew up thinking that everybody was broke. [00:03:50] And then you get into real estate and you're like, damn, these just people out there got some dough, you know, so let's go, let's go get it. All it takes is hard work. Great job. You picked an industry where there's endless possibility. There's no ceiling. [00:04:06] It said, it's the old phrase, if you can't go up, get out 100 believe in that hundred percent. You can't get up, go out. There's no such thing as not going up in real estate. You can always go up. You can literally build up Donald Trump style. Build you a trump tower, you know, so no such thing as getting too big for your britches in real estate, which is a wonderful thing. You've picked the right industry for that. But I think in general, you're thinking too small potatoes and potatoes. [00:04:40] I've said it before, my friends. You know what potatoes do? [00:04:43] Potatoes potate. [00:04:46] They do. [00:04:50] So at a certain point, it's time to level it up. Stop thinking so damn small potatoes. [00:04:55] Get out your own head and go make something happen. It's 10x is what it is. [00:05:01] Guarantee you somewhere on that bookshelf behind me, it's going to be in the C section. Yep, right there. [00:05:07] Right there somewhere. [00:05:15] There it is right there. The yellow one. It's not, it's a little blurry, but you get the idea. Grant Cardone. 10x used to be a Big fan of his. He's gotten all political and everything lately and I don't follow them as much as I used to, which is heartbreaking because I was a huge fan. But that 10x is fantastic. And you know, it's, it's again, it's just, it's simple pro, it's a simple principle. Work harder. [00:05:37] That's all it is, just work harder. [00:05:40] Raise it up a notch or two, you know. [00:05:43] But if you're th, if you're sitting around, oh my gosh, this house is such a burden. This house is. What are you doing? Just get rid of it. It's probably this, probably not for you, you know, real estate, it's probably not for you. If the house is a big deal, if it's a big deal, if it's a problem, you know, just get rid of it. [00:06:03] The short term shop is hiring. We are hiring real estate agents in the best vacation rental markets in the nation. If you live in a beach town, a mountain town, or want to move to one and you are a qualified rock star realtor, please reach out to us. [00:06:22] Theshortermshop.comcareers we are currently hiring in multiple markets. [00:06:30] Theshortermshop.careers which is right now is not really a great time to sell by the way. [00:06:40] I'm actually going to go off on that tangent a little bit right now. Don't sell your house right now. [00:06:44] Okay? Nothing to do with today's topic, but this is not a good time to sell a house. If you can make it work, make it work. [00:06:50] There are so many listings coming on but at the same time we are starting to see a little bit more action, you know, in general and who knows? I'm not here to talk about the economy, but what you need is that 10 year yield to get down to 4% is what you need. [00:07:07] Interest rates need to be at 6.4.8. I'm sorry, no, 4.8 is not good. That will not be good for the economy. If that happens, that will be horrible. [00:07:16] 5.8, 5.9, 6% interest rates. That's going to be a nice steady economy where things are going to start moving again. People are going to be comfortable and I think we're headed that way. It's just going to take some time. [00:07:28] But back to my point, if you're not, if this house is a big deal, it's a burden, it's stressful, get rid of it. [00:07:36] Not a good time to do that, but get rid of it and we would help you. We'd be happy to Help you with that. By the way, if you're having a problem with your house, it's short term. Shop.com. the shorttermshop.com. [00:07:46] we sell houses in vacation towns, but we don't want you to sell your house right now. It's not a good time to sell. [00:07:54] It can be. It can be, you know, if you have a lot of equity and things like that. But, you know, talk to your agent and come up with a plan. But if the house is a problem, if it's a burden, this is probably not for you. Get rid of it, move on. [00:08:07] Just consider it, you know, mobile. It was a motorhome that just didn't work out, or you had fun with it for a while and then you're just done. Move on. [00:08:15] But in general, we gotta stop thinking so small. [00:08:19] Go drive around and look at these giant buildings out there and say, I could own that. [00:08:27] Think bigger. The Universe is listening 100%. [00:08:32] There's a 10 million dollar hotel on every corner. Maybe not in every single town. Definitely not the town I grew up in. But you get my point. Town I grew up in doesn't have any hotels. Nobody wants to go there. [00:08:46] I hate to say that. [00:08:48] Shout out to Springfield, Nebraska, my hometown, population 1400. I think it's gotten slightly bigger in the 30 years since I've been gone. [00:08:58] 20. What? However many years it's been. 25. Anyway, go big Red. [00:09:05] If you're sitting around saying, man, this H Vac, this, this, that, this dishwasher, this is such a big. Oh my goodness, this is so horrible. You need to go bigger. Go big or get the hell out, man. For real. Go big or go home. Read 10X. [00:09:20] There's a story that goes like this. I pulled up next to a Lamborghini at a stoplight. This actually might even be a Cardone story. To be honest, I don't know where I got this story, but I pulled up at a stoplight next to a Lamborghini, and I would say, that guy's a jerk. He doesn't deserve that car. How does that guy have that car? He's just rich. He's rich. [00:09:40] You got to change that way of thinking. [00:09:42] You got to change that mindset. And you got to say, now you got to pull up. If you pull up next to a Ferrari, which where I live is actually not that uncommon, there's a lot of fancy cars around here, this southern Beverly Hills. [00:09:54] But I'm kidding. It's maybe twice a year, but it does, you know, it does happen. [00:09:59] Pull up next to the Ferrari at the stoplight. You got to say to yourself, the dude, the money to buy that car exists in the universe. That guy's got it and I want it. [00:10:12] That's the attitude you've got to have. [00:10:17] Sweating the air conditioner on a house is not a good way to live. You can't be doing that. You need to be like, okay, over there is a 20 million dollar hotel. I'm gonna figure out how to get my hands on one of those. How do I get involved with that? Well, I'll tell you. A good way to start is to walk in the front door and tell them you want to work there and learn how it works. Learn how to do all that. So if you don't have any money and you want to get into big, giant luxury hotels or whatever, go work at 1. Figure out how it works. [00:10:44] Start at the front desk, start as the concierge. Then next thing you know, you're the manager. Next thing you know, you're going and doing your own hotel and you got partners bringing in on a syndication, and you're the managing partner and you're running the whole show and you've got equity. [00:10:57] You got to start somewhere. But it can be done. Stop sitting around sweating your dishwasher. Come on, man, let's go. Level it up. Stop thinking so damn small. [00:11:10] Short Term Rental Management. [00:11:14] All right, I'm gonna leave you with a quote. Think big, start small, act now. [00:11:19] Comes from a book called Hot, Flat and Crowded, which I haven't read, so I don't know if it's any good, but I like the quote. Think big, start small, act now. [00:11:30] Keep it short today. Cash flow. Carl, get out there and make something happen. It ain't that big a deal, man. [00:11:36] Think bigger. [00:11:37] Don't overthink it.