[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. I love you and I'm here to party, man. It's a great day to have a great day as the holidays are approaching. And love me some Christmas, man. I'm growing a beard. Going to do it. Let's do it. Going to be a beard winter for yours truly, Long hair Luke Carl, the greatest landlord in history.
[00:00:36] And today we're going to be talking about landlording. Imagine that. Short Term Rental Management. We're going to talk about managing properties, which is the name of the game. And today I want to reiterate the fact that I hate to tell you, but you're no, you're nothing special. You're nothing special. We need to get over it when it comes to thinking we reinvented the wheel by renting properties overnight. All right, I see this time and time and time again. Let me get my notepad going here because I know I'm gonna make my own notes. I like to take notes. Note taking, man. I'll tell you, if you get it down on paper, that's another little side note here. Get it out of your brain. Pen to paper. That's when the dreams come true. You got to write stuff down. My lighting is terrible this morning. Write it down. Get it out of your brain on the paper. Especially a guy like me. I have literally zero memory. Nothing. I can't remember anything. So I get it out and write it down. But I see it time and time and time again where we get our. We get ourselves in trouble because we think that we're doing something new and weird and different and cool. Now it is. It is cool. But managing rental real estate has been going on since the beginning of time, literally. Okay? Now Airbnb made it so that your grandma knows what this is. Your grandma might not know what vrbo is, and vrbo's been around for 30 years, but she does know what. She probably does know what Airbnb is. You know, they've done a great job spending money on all the right marketing, et cetera, in my opinion, and put it on the map. But where I feel people get in trouble. And again, this is coming from a long term rental, dude. Okay? And I'm going to get into that. But I feel where people get in trouble is where they think that they've stumbled onto something new. Like I'm going to be the first person to open a safe room in my town.
[00:02:34] I mean, hell, even Chick Fil A. If you were the first person to open a Chick Fil A in your town, you're probably doing pretty good, you know, And I think a lot of people look at this in that regard, and that's why the saturation word, one of the many reasons is saturation, where it comes up all the time. Oh, it's. There's too many damn Chick Fil A's in my town. There's too many Airbnbs in my town. You're looking at it all wrong. It's just a rental property, okay? And if you thought you were getting yourself into some sort of, you know, new thing where you were the first to the space, you are sadly mistaken. Sorry. Rental real estate has literally been going on since the day the first roof was put over somebody's head.
[00:03:11] Home construction dates back 1.8 million years. Tanzania was the first place that they ever found evidence of a home being built. 1.5 million years, that a house with a roof on it has existed.
[00:03:28] And you need to step back and realize that all you're doing is renting a damn house. It's when you think you're walking on the moon.
[00:03:37] Oh my goodness. I'm doing something nobody's ever done before. That's when you get in trouble. I don't know where this idea came from. Where did this concept come from? I see it every single day. I'm going to get an Airbnb and I'm going to learn how to rent my Airbnb. I'm going to learn how to rent my short term rental. It's just a damn house. It's just a damn house. And if you are thinking of it like that, like you're walking on the moon, you probably don't even know it. And you're listening to this podcast and you. And it's not even hitting home because you don't even realize that that's the way you think. Open your eyes. You will have more success.
[00:04:12] I can guarantee you more successful when you realize that you didn't reinvent anything. It's just a house. We're just renting it overnight and we're providing fantastic vacations place for these people to create memories.
[00:04:27] That's what's important. If you're getting into this because you think that you found like the new version of Uber, it ain't gonna work, man. It's the same thing with Uber drivers, I would imagine. If you look at it like you're just moving a human from one place to another and it's been going on for 100 million years, you will succeed. If you think that the world has reinvented the wheel, you will not succeed. And again, to a certain extent, it has. It's. It's. It's a better mousetrap. It's the first to the space in the world of the Internet. VRBO, Airbnb, booking.com, etc. This is the mousetrap of today. It's the modern, cool way of doing it, but it's been going on for 1.5 million years. It's like the ring doorbell. They were the first people to figure out how to hook up a camera to your phone. And then they came out of the woodwork. What else can we hook to your phone? What else can we hook to the Internet? We got the meat thermometer that connects right to your phone. You can see exactly what temperature your roast beef is in the oven. It's brilliant. But you're still just cooking a damn piece of meat. Grandma's not impressed. Grandma doesn't need the damn Internet to cook that meat. And there's a lot of grandmas been renting vacation rentals for 48 years. All right? There's a lot of people that need to hear this. You need to hear this.
[00:05:48] Get over yourself. You are not special. If you want to be special, what you need to do is provide great vacations and make your guests happy, no matter what it takes. That's how you become special. There are a million property managers out there doing the exact same thing you're doing, and there always have been. Matter of fact, according to AI, there are 124,866 professional property management companies in the United States. They're doing it for a living. They have licenses. They probably don't own any real estate. So you got that. And I don't want again. You are special. You are special. You worked hard. Go out and get that damn payment, that down, down payment. And in that regard, you are special. You worked harder than anybody else. It is so hard to get the kind of money it takes to buy real estate. That's what you need to be proud of. Bravo. You did it. You did it. And hell, a lot of you are on your way to your second, third, fourth, 10th property. That's huge, man. You buy property, you forget about it for 20 years, and your entire family's life is better. I don't need to be preaching this stuff. Kiyosaki's been preaching it for years now. Kiyosaki, unfortunately, has moved on to the golden. So we've Lost our leader. Ronald Real estate's lost its leader. I'm gonna do another podcast on this. But Kiyosaki, he's moved on to gold and whatever else. He doesn't really preach too much about real estate anymore and he's our leader, so that's kind of sad. But let me get back to what I'm talking about today because I do want to get to that some at some point. We have no leader. Brandon Turner, I think is probably our best leader these days and has been for quite a while. Love that dude. Anyway. 124,866 property management companies in the United States of America, God bless it, you're not special. There's 125,000 companies doing exactly what you are doing. And when you can get that through your thick skull, you will do better. It just blows my mind how hung up people get on this. Oh, look at me. I'm learning a new skill that nobody's ever done before. No, you're not. Where have you been? The caveman decided to go to cave town number three. He lives in Cape town number two.
[00:08:07] But while he was gone, because it took him two months to get there, he rented out his cave to his cousin. Gave him a discount, but he still charged his ass. And then he was gone, cave town number three for two months and he came back with a cave lady. And then the cave wasn't big enough anymore, so he sold that cave to his cave cousin and the caveman and the cave lady moved into a bigger damn cave. It's been going on since the birth of humanity. I can't believe I got to preach this stuff. It's a wonderful life changing event, but it ain't nothing new, man. All right? And when you can get over that, when you, when you realize that you are not special, only until you realize that what you are doing is not special, is when you can really begin to make a difference. That's when you can really focus on your guests and these vacations, which is all that matters. If you want to buy a short term rental in one of the best vacation markets in America, you're looking for the short term shop.
[00:09:12] They are the experts in the vacation rental space.
[00:09:16] Their team of realtors are fantastic. If you use the short term shop to buy your home, you'll have access to free classes with me to teach you how to get your property up and running.
[00:09:28] Join
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[00:09:35] And I think a lot of that comes from us wanting to be Different. Wanting to be modern, wanting to be cool and hip. Internet millennial or younger. A lot of it has to do with us not wanting to be our parents. My dad, not me personally, but, you know, you're sitting there saying, oh, my dad's got some rental properties and I want to, you know, subconsciously, we want to be like our parents, you know, or not. But there is an element there where, you know, if you got a wealthy dad and maybe he had a few rentals, you want to earn their respect, but you want to do it differently. You want to do it the way we do it today. And this whole Airbnb thing is like cooler and more modern and hip than a long term rental. And I do appreciate that in short term. I appreciate the fact that short term rental has gotten people in to rental real estate that would have never otherwise done rental real estate. So that's cool, man. You know, we got to show it some respect and appreciate it. A lot of people don't show it the respect that it deserves. Man. If you can buy a property that breaks even, you're crushing it. I hate to tell you, everybody wants to quit their job and three properties, three quit their job and all this bull crap. If you can get yourself into a property that breaks even and you get to go use it, I mean, hell yeah, dude, you got some tax advantages there. I mean, obviously there's other goals for different people, et cetera. But a lot of times, oh, you know, my. My dad knows rental real estate, but I can have a conversation with him and have my own identity if I do an Airbnb. Well, I hate to tell you, but your dad has probably gone on vacation to Myrtle beach and rented a damn house. He knows what it is. You know, it's been going on forever. It hasn't been as popular. Of course it's popular. It's popular with us because that's what we do all day. In the grand scheme of the world, people still have no idea what this is. So I've got the medicine for you. If you're sitting there thinking you reinvented the wheel and this conversation is hitting home and saying, damn, man, Luke, you know, he's hitting some cords here with me. Because maybe he's right. I did think I did. You know, I think I'm special. And it's hard for me to really. If you're having trouble achieving at the goal that you want to achieve, it's a lot of. It's because you're holding yourself back because you think you already did something so special that you don't have to try anymore. And that's bull crap. Reverend's preaching it today, man. Reverend of real estate. So you want to know what the medicine is? The medicine is go get you a damn long term rental. Maybe that will make you realize that it's four walls, a roof, and an air conditioner. And that's all that damn thing is.
[00:12:05] You rent it for three nights at a time instead of 12 months at a time. And that's the only damn difference. Now if you're sitting here listening to this podcast and you're saying, well, Luke just said that the only difference between a long term and a short term is three nights versus 12 months and he doesn't know what he's talking about, then you are missing the message. You're missing the point. You're missing the point. It's four walls and a roof. You can't deny that. I mean, hell, even a hotel's got four walls and a roof. Apartment building's got four walls and a roof. And that's another thing. If you sitting here thinking, you rein the wheel and you're walking on Mars, you're thinking too small. You're thinking too small. You need to get out there and go bigger. Stop being a wimp. Oh, I'm special. I got an Airbnb and my daddy thinks I'm cool. You ain't trying hard enough. Not trying hard enough. Go do a damn hotel. Go syndicate a $13 million property. Now you can't just go from one single family, long term or a short term rental to syndicating a $13 million property. Nobody's going to give you their money. They're going to say, what are you talking about? I'm not getting in on this investment with you. You don't know what the hell you're doing. But if you're ready to be a big boy and grow up, or a big girl, you need to stop thinking so small like you're doing something special here. And back up, zoom out and say, damn, man, there's some big pieces of real estate out there in the world. I need to look into that. So, yeah, man, you're thinking too small. Think bigger. Think bigger about everything in life. You know, Think about anytime some little thing happens on your house and you're freaking out. And of course, if you knew, I get it, man, there's nothing wrong with that. But you need to be thinking bigger. Pull up at a stoplight next to a Lamborghini and your car needs new tires. How did that guy get to that Lamborghini. And I'm not saying that is the goal for every wealthy person. I don't have one. Although when I was a kid, I sure had a bunch of Lamborghini posters around my room. That's when I was broke. You know, when you're broke, you think you want the Lamborghini and then when you get the money, you're like, man, I can do some better stuff with this, you know, but stop thinking so damn small and listen. The medicine, I've said this before, is go get yourself a long term rental. You got to get out of your own head. Go get you a long term rental. $150,000 in a good school district. Rent it for 1500 bucks. Did I say $150? $150,000. And teach yourself a thing or two, you know, and then grow that. Because again, the hard part is getting those down payments. It's a lot easier to get $150,000 down payment than it is a $700,000 down payment, you know? So keep that in mind. But get out of your own head. Think bigger. We are not special in this vacation rental world. It's just rental real estate. It's just creating memories, providing a great place for these folks. They're not raising their kids in it for extended periods of time. They're only raising their kids in it for three or four days. That's really the only difference. So get out of your own head. Get out there and kick some ass. Let me get a quote for you as we'll wrap up today's program. The quote is, a movement of the heart will create a movement of the feet. And I do apologize, I don't think I have a. I don't know where I found this quote, probably in a book. But basically what that means is if you feel it in your heart, if you got something on your heart, get out there and go do it, man. A movement of the heart will create a movement of the feet. I love you. Short term rental Management Long haired Luke Carl, the shaman of short term.
[00:15:22] The short term shop dot com.
