How Dustin Cotton turned a failed Airbnb into two lake rentals

0:00 in this episode we're speaking with Dustin who is one of the first people that I coached today he has two properties and he's looking to scale even more this year he's going to discuss how he's able to get five landlords interested in one sitting now he automates his business so he's working less than one hour per week he also tells us a story of how he's able to turn a fail Airbnb from a previous operator into a thriving one trust me you're not going to want to miss this story as he gives a bunch of golden nuggets on how he was able to do it all right well we got Dustin cotton here he's uh one of the top top people here in the group so excited to be talking to you today Dustin um so for the people you know I just want to kind of give us some background on you know maybe like what got you started in Airbnb and what you're you know currently doing what you're doing before that um yeah I guess kind of a funny story so beginning of last year and thanks for uh hopping on with me Preston uh beginning last year like around January I tore my achilles so I got in a situation where I was like immobile right um and during that I became very interested in business entrepreneurship health things like that so I kind of dove into a bunch of different social media influencers and and just things like trying to really better myself and my quality of life one of the things I've always been interested in is starting my own business um I've been in the corporate world in

1:16 sales for a dozen years or so and management sales all that good stuff and it's just like hey you have been pouring my heart and soul into this and I've found the success that I've wanted to but at the end of the day like a lot of that effort is shown back to the company like not usually 98 of the revenue generated shown back to the company um for my effort and sales and I just feel like hey if I were to go off on my own a lot of my effort could be shown back to my company anyway so uh you were one of the ones one of the influencers I would say that I started following especially you know from the business perspective and everything so come about April so like three four months into following you I really started to hone in on the things the content that you were putting out there I was like man this is speaking to me like I get pumped about the things that Preston puts out there a couple months later you rolled out the Airbnb Arbitrage program and I was like well up to the top on that see what it's all about so I uh listen to you you know said on your webinar and um after going through that I was like this is a no-brainer I think I signed up halfway through it I was like let's rock and roll Airbnb was maybe like fifth in line on like the kind of businesses I wanted to start but I thought it would be cool and and I just I didn't seek out or adhere to any people that I felt like were a great mentors for me or at least like a starting point for those other business ideas and you kind of presented

2:34 that that launch point right you're the detail of your content and the sincerity that you put towards your program I was like this is it let's go so I signed up for uh you know your the Airbnb Arbitrage program and got involved in the community this is now back probably like August of last year kind of went all in said hey I'm doing this um I'm still working the nine to five job I'm actually at an event right now for the nine-to-five job sites on um kind of going 100 into the business and Airbnb Focus whether that be with my business or in the community or whatever it is but not there yet so I jumped on with with your program and fast forward until now you know I've got two properties that are live they're doing great I'm excited to go public with both of those because we've kind of created a website and some stuff but I'm waiting on professional photos that'll be done here in about a week or two at the second property so yeah but they're really they're taking off they're doing exactly like they were supposed to do based on you know all the things I learned in your program and what I can tell you is having properties up is a lot of fun we're looking for number three now for sure man no love the background thanks for the kind words so obviously you know all that sounds great right but what are some of like the main challenges that you faced when starting your business I know we've talked about this before but let's kind of talk about you know rewind back when you first joined the program you're hyped um and then also and then reality kind of sinks

3:52 in so how did you you know what some challenges you faced and how did you overcome those things yeah great question so I jumped in and I've been in sales my whole life so like I'm like this is gonna be easy for me you gotta you know I gotta hop on the phones and talk to people and do all that starting the business was very easy I did that very first thing business bank account all that the blueprint you've set forth is exactly what I did I'd never done a business before so I needed to rely on that super easy then it came time to start finding a deal after about three weeks of trying to find a deal I found myself like say kind of in a bad headspace I was like what did I do this is not a fit for me this is way harder than I thought it was going to be yada yada and I was like kind of just like defeated on myself well the things that I found that I did wrong was I did paralysis by analysis so I spent three weeks researching all these markets and thinking that I was a genius like focusing on Miami and Austin and Lake Tahoe and all these places and like finding the perfect properties that fit my my budget and my finances and all that and like had them all lined up like 50 60 of them and so I spent three weeks doing that without making a phone call I started calling into these markets and I realized the particular areas in those markets I was calling into like they were not friendly for there you know there's a lot of restrictions or tons of competition and my pitch just was not

5:11 Landing with them or you know the properties were restricted and I just hadn't unturned those leaves to figure out that information so I was like what the heck man this is really hard kind of thinking everything is like this when I'm trying to find a property so I took a step back for like a week and was just like you know let me kind of think on this a little bit I had a weekend coming up that in Texas it was like 105 degrees I had no plans Saturday Sunday so I was like okay let's recalibrate I'm motivated again there's some areas within like the southern us that I personally kind of vacation to and stuff so so I have confidence I can speak to those areas so I just got on Zillow and I just said hey I'm gonna call into these areas found some properties that were in my my price range and started calling so Saturday and Sunday I spent maybe eight to ten hours both day uh in combination of the two days calling and I lined up five properties that landlords were like let's go these things and I was still kind of rough around the edges right on my talk track but at the end of the day like I had some confidence so I was able to create a little Rapport on that first part of the conversation so I think it opened the conversation up to these landlords anyway I had like five properties that I set follow-up conversations for for the next day which was Monday and I ended up closing on one um signing a lease on one which in hindsight I think I could have done like three and I probably should have and

6:28 would have if I knew what I knew now um but yeah so like I spent the first four weeks like really making no progress but I learned a lot of what not to do you know and I think I've been able to take that and be way more efficient going forward and help others be way more efficient going forward too yeah no there's lots of good a lot of good stuff in there I think one of the main things that you touched on is like the first couple few weeks and I think a lot of people get in the same way is they get stuck by analysis by paralysis right they're like oh like I don't know if like this number these numbers are going to make sense that's why we've created the community that we have so that you can get us an eye you know like a second pair of eyes and people that actually know what they're doing right just because when you're first starting it's scary you know especially you know putting in you know however much money into these properties um but I think the way you overcame that was just by just doing it right you set aside some time you called a bunch of people you got five landlords interested in you know single sitting and so I think that's a huge lesson there where you know you might not know everything but like you get you're going to learn more and learn the best by actually doing it 100 100 yeah I mean took me 30 40 calls maybe to get there but uh absolutely that's that's what I've learned in starting a business is like you just gotta take action and like things are going to figure themselves out that you're never going to figure

7:44 that out if you sit and try to just like sit stagnant and try to X be an expert before you make a movement you got to make a movement and then you're going to learn along the way yeah I mean I wish it was like you know we could map out everything perfectly to a t have this beautiful like 60 page business plan but that's really not how business works right like there's challenges there's roadblocks that come along it's about how you overcome those that you know ultimately will lead to your eventual success or not um but yeah I mean great lessons there and there so for your first property let's kind of talk about that a little more because you know I think you've done an excellent job like even from the really the very get-go of catering to that guest experience so talk me through how how like what's in your like what's your thought process behind setting up your properties and you know what you've done to you know create a really good experience and um a little teaser we're going to talk about how your first property was like what it was before and we'll get into that a little bit but if you want to answer that first part yeah so my whole thing was I wanted to create an experience that I would love so it's kind of like things that like I've culminated from like what I loved as a child so growing up as a kid I you know I grew up in the Dallas area but we had a like a RV um at a lake that was like two hours away and it just gave me a lot of experience growing up around water right and doing water sports and fishing and so I wanted to recreate that and that

9:02 because that's something that is a passion to me and I felt like I could share that passion with the guests so some of my criteria is being like having an outdoor experience some property that might be close to Outdoors or have Outdoors right next to it water you know being close to a lake or water of some kind I was kind of looking in areas around that kind of would cater to that I guess to button up first question family experiences that involve some kind of water whether it be water sports fishing something like that I would love for the guests to be able to be close enough to go enjoy those activities so I'm kind of building my business with that in mind at least for my first few properties and then we might you know kind of expand your properties are beautiful and like you know it really does come across in the photos and like your listings is like I want to stay here this like if I stay here I would have a lot of fun right and so that's kind of like the theme that I'm sure that you're trying to capture and I'm sure a lot of people that you know look at your properties and the reason they actually do book your properties is because they can feel that through your listing but you know something really interesting about you know the little teaser that that I mentioned was uh the property that you had before was iridian Airbnb I guess a fail Airbnb honestly so let's can you talk a little bit more about that yeah I didn't even know it so I found it on Zillow for rent right and it was a it was decorated like some 90 year olds lived there and that was the

10:18 fact right it was a house that um I think a realtor had bought from some people that had maybe moved or passed on and they were in their 90s and I don't think they did anything to fix it up I didn't know they would rent it out so I'll get to that point but I was like this place is on a cool property man and the pictures are not that good and it looks old I was like this could be great you know so I called them and of course being a realtor the people are totally on board with finding something that cash flows and obviously they had the price set to where it was going to make sense for them I gave them the pitch and they're like that sounds great still didn't know that they had tried that in the past so they're probably like oh this is really good we're getting somebody to pay us 2500 you know whatever and that was my rent 2500 so they were pretty excited to do the deal they loved the pitch again this was my first deal so I leaned heavily on the pitch that was in the program we got the deal done and then the place had been on the market for like a month or two and like it killed it we made two to three grand in each over the first two months I was down I went down to the property because it's like three hours from where I live went down there to you know check on things and just make sure everything's going good and kind of go to eat with like the uh the homeowners and stuff when I was there they were like you're really busy like wow what are you doing yeah I was like oh well you know I'm in a group and we all help each other be successful and all that yeah I was like my mentor helps me uh anyway it's like I told you it was gonna be good they were like you know we did

11:35 this for like nine months prior and our biggest month was like a thousand dollars in booking and I was like really I actually did not know that and uh yeah come to fight like so I was was doing at the time I think like six and seven those two months had been six and seven thousand they had done a thousand it did absolute testimony to like the way we do things that you teach us Works took this property fixed it up I used a little bit of their Furniture like bed frames and stuff and then there's just some stuff in the house so I didn't go full on our template that we do like and design the entire house just because I used a lot of that budget to do exterior stuff and for the outside experience but still got it to a point where it looked nice it didn't look like a grandma lived there anymore and then you know use the the marketing strategies and everything that we use on Airbnb VRBO professional photographers is massive so yeah man I my budget was still 15 000 to get that one up and going I kind of I went I nailed it for the most part but yeah like I I mean we've been doing we had one month in like January which is supposed to be slow we did like 5 000 but we've been doing really March was awesome like seven and a half thousand you know we're doing really good on the property and it's just I did a three year deal on it so I'm excited to see what results from the three years probably going to do about thirty five thousand each year so it's been a hundred thousand dollar deals first deal hopefully man that's awesome dude so talk to me about like if you if they had

12:54 told you that during your initial call would you have moved forward with that deal or would that kind of put you you know put pause on it especially being your first deal being my first deal I probably would have been more apprehensive I was already apprehensive and yet I was looking at the numbers in the calculator and everything I was like this is gonna work this worst case scenario this is going to cash flow but at least some so like whatever I can use it for myself and have a free little place to go stay so I was kind of convinced and like let's just take roll the debt let's just take the chance it's a chance where we've underwritten it really nicely and but it would have scared me a little bit now but I was also telling myself I can make this place awesome and it's got potential you know it's it looks like a dog but it's it's got a lot of potential and it won't be that hard so I think like believing in yourself a lot of people get into helping do analysis on deals seeing a lot of properties out there and I do think people have a lot of passion for properties and then they like start second guessing things right before it's time to pull the trigger and at the end of the day like it's that passion it's that Vision that you have it's gonna it's gonna turn into care and purpose that you put into that property it's going to make it great so just listen to your intuition If the product the numbers are almost making sense like and you got some passionate about like go and that's how it was with me and that property it literally kind of turned out just like I thought it was a good one too no that's a there's a lot of good lessons in there just because number one I think a lot of people will have overlooked it right because it was sitting on the market for what one two

14:11 months before you came in and called them and so you saw that potential in the property you saw the I think that's a really underrated skill too is that you know if you can notice you know the Diamonds in the Rough like you're gonna have way less competition you're gonna be able to negotiate your negotiate a three-year deal um so it's a win-win for the landlord and you because now the property's you know cash flowing you know it is and so I think that's a good lesson because if everyone's just flocking to the same properties obviously it's going to be hard to to lock those down um but I think there's you know really good lesson in there that you were able to you know get a property see the potential in it and then execute and you know now you're you know seeing the fruits of that labor right you know even if you are in a saturated Market though I think the way that we set properties up like so like if you're in a more competitive market you're going to really have to follow the furniture setup blueprint and everything to make the property stand out but I still think it's going to stand out and all the other things that we do from an operational perspective with the team and how we advertise them and do all that like it's gonna you know so we're already in a good spot and if the underwriting numbers kind of makes sense like do it you know just like it's gonna be a better property than most of them yeah it's funny you say that because there's a lot of people like on these forums that are like oh like airbnbust like I'm not getting any bookings like is anyone else seeing the same thing and you know a lot of these people are like yeah like I'm not getting any bookings

15:28 and you'll like click on their listing yes you know like it looks like they've took the photos from like the 1990s and you know dinky Furniture it's like the cream's gonna rise to the top in this industry and it's like in any industry right the people that treat it like a business that can differentiate because like one of our properties in Florida like it's one of one of the most competitive markets in the entire United States yeah and we're still getting booked more than ever just because we you know had that Vision we had that plan from the beginning like we're gonna put these amenities in that's gonna stand out from the competition so as long as you do that like even if you're in the most saturated Market in the entire world like as long as you're top you know 10 to 20 property like you're still gonna make money that's in anything man that's in business of any kind like how hundred percent like we're going through the recession or whatever um but yeah if you're in the top ten percent great you're going to weather that recession and you're going to come out even better on the other side plus I actually have being used to in the corporate world a lot of very very mature markets and saturated markets Airbnb is actually not even that saturated like there's still a lot of loose ends that you know there's still a lot of ways to perfect what you do perfect the craft and and really it's a good it's a good place to be because it's still very young yeah for sure um let's switch gears a little bit so I know something that you've also done really well is you know seeing that Vision you're going to scale this you

16:45 know this business of yours so what are some of the the foundational things that you put into place in order for you to be able to scale without you having to this turning into another job basically and everything that I do I try to write a process right so it's like hey here's a checklist of how we went about that so that I can memorize it and then also somebody else can duplicate it if they're wearing a hat and speaking of somebody else duplicating it so even during the setup once I got the lease going on this first property I immediately brought somebody on somebody that I used to work with in the corporate world she was like our administrator for an office of like 30 people so she had the skills very great skills of being organized and being kind of finding solutions for for things uh and and so I needed that I you know I have a full-time job and and I know a weak point of mine is kind of structure and organization but then if somebody could be there to give me that I can fly it worked extremely well I've kind of paid her to help me organize the setup and all the you know the list management of getting the furniture and all the things set up for the first property she helped me with like ideas on like writing the descriptions and everything she was just somebody to lean on she also uh wore the Hat of like client interaction or I guess let's just say customer interaction right so like she would handle which became very very very little once we got the property up on

18:02 the market like the automated messaging kind of handles it mostly on its own but she kind of took on that hat because she I think is a little bit like better with the words but it comes to like making customers feel valued and all that so uh but the reason being is I want to put my energy and effort into finding places getting them live and scaling that as fast as I can so I knew I needed somebody as a partner in the business she's actually ended up she's having a baby so she's kind of out of the picture I brought somebody else in uh who's been actually very very good as well um from a marketing perspective built out helped me build out the website actually did the whole website just took it and ran with it and made it look great and so this person's like a very great marketing mindset so anyway they're also helping tremendously uh with just everything like I don't know like input on getting properties up organization all of that so again my goal this year is to be netting 22 000 net profit in at least one month before the end of this year love it man I think there's a lot of good things that you said so number one is that you you realize what your weaknesses are right and you're like okay how do I fill in these gaps so that I can continue to grow because you're you know it seems like you're more of like the overall kind of business owner mindset person

19:19 where you could see the big picture you know how you want where you want to go and then you bring in people that can help kind of fill in those gaps to so that you can do what you do best which is looking for properties finding deals um and then you know scaling your business and so I think a lot of people kind of get stuck they you know they do everything all at once and I think to a certain degree you should be in that point so you kind of understand you know from all aspects of the business but you know once you kind of see the vision and you start seeing the results and you want to try to remove yourself as quickly as possible and I think you've done a really good job of putting that foundation in so that you know once as you continue to scale you're not going to run into a bunch of bottlenecks and I think that's something you've done really good of yeah thank you yeah I mean we would be and it's just a thing I wrestle with all the time it's like we how fast can you get to that that point or how fast can you scale a man if I was doing this the nine to five still takes up but good chunk seventy percent of my time or more and so I'm like when do I remove that and just take the hit and like I think we might be getting close so because we would be able to scale really quick because I would be able to focus on the things I'm great at I have the backup support we've got a plan for if we get bottlenecks like we're going to use some va's if we get bottlenecks which that's a virtual assistant and you know people learn about that in your program so yeah man I'm wrestling with that right now on a trip and I'm like oh

20:36 it might be my last one it's a good problem to wrestle with right just because you know you're seeing you're starting to see the vision like I mean you started like you know a few months ago and you're already at this point where you're like and you you're making really good money at your job currently um and the fact that you're talking about that is is like it's super exciting um in less than a year so I think that's that's a testament to show like you as long as you put your mind to something you have a good roadmap or blueprint to get there then it's more than doable and once you get you know we just did our second property like you start finding efficiencies and you're like oh this actually we can do this way quicker we can you know so there's a vision there yeah pleasure concept I guess so let's talk about your second property a little bit um you know how did you find it and you know what what kind of Drew you to this one versus the other ones that you're looking at it was actually a very similar story to my first one so it was five or six pictures on Zillow they weren't good they were kind of you know this place was kind of off the beaten path it had been on the market for I don't remember like maybe 50 days or so I'd looked at it for a couple weeks I was like yeah it's gonna be cool you know and then and then I was just calling through some stuff one day I was like I'm gonna loop back to that one and talk to them and I called them and they were like you know they they were on board with the pitch and I was just like

21:52 I don't know this probably I can't really tell like is it is that good or not I went to go see it and I was like oh my gosh this thing is way better than I thought it was going to be you know and then we were negotiating on rate like they told me the rate and I knew where my ceiling was and they were below it and I was like oh gosh now that's going to be too high guys like you know we're gonna have to get to here I mean I'm looking for a two-year deal wait it worked out so um but they're they've been great this one I feel like is a nice partnership with the landlords because we agreed on some terms right we split cost of furniture they have a vision of like letting me do this for a couple years uh as Arbitrage and then they want to reevaluate things after two years and then they maybe become I guess the owner operator and I might be the property manager we might extend the lease I don't know so I wanted to really work in partnership with them and so it was great to split the furniture Help The Upfront costs you know I think the budget on this one was 11 and a half K so we got into it at a pretty good price that's including deposit and everything yeah and and so it's again it had it's close it has it's like on a lake so uh it's got an awesome outdoor patio I've put kayaks there a stand-up paddle board I built a fire I I it's not far from me so I had the ability to go out and save budget and I built a fire pit in a

23:10 weekend which is an awesome fire pit and it sits out on the point of a lake so like this one like we feel like the property and once we get some professional photos in there it's gonna be awesome so I think it might do better than the other one love to hear that man and that that's interesting because one of our first properties that we looked at you know it was a listing that we had seen like it's been sitting forever and we as every time we would go through the listings but uh like this one again and we'd like kind of look through photos and like how these photos suck and then eventually you know I had my real estate agent go out and take a look at the property she walks through it and she's like like guys like this property like it looks way better than the photos because you know it looked like you know they the owners were you know 60 70 years old they had taken the photos on their iPad and they look awful and and so finding those little Diamonds in the Rough and figuring out um you know because a lot of the pictures might suck but those are the the properties from you know now now knowing what I know now those are the properties I want to look at the most because you know that might be a hidden Hidden Gem that a lot of people are overlooking 100 yeah and there's actually a person in the community um that live that lives in the area uh sometimes like he's got a a house there I think or something and I was gonna actually have him go look at it but he

24:28 was actually out of town at that time so I was like I gotta go see this place because the conversation's on the table so I would live in Dallas it was like two and a half hours from now so I was able to zip out there one evening and look at it I was like oh yep that's good but to your point like yeah get some eyes on it because you never know like I think some of those group best opportunities are the ones that on little over wherever they're marketing the property have bad pictures and you've got to like be like well this is you know go to like Google Earth and see where it's actually at like okay there's some cool stuff around here and have a vision for it because bad pictures is almost like a diamond in the rough right if the property checks out and you can get eyes on it then you could really find a great property whereas some that are listed with magnificent pictures and everything like it's there it's probably getting gonna get off the market pretty quick yeah I know for sure um okay so let's talk about you know what are you dedicating I know your time you know commitment to the foundation you've already built out has like been awesome so that way you're kind of removing yourself from the day-to-day operation so how how long are you spending per week on your business right now I've got both properties up and live right now so like I'm sitting in Mexico and uh I'm watching as people check in or check out and my business partner is kind of overseeing everything and there's literally been nothing there's been a couple checkouts we got five star reviews from both of those from this past weekend so that was cool she

25:46 coordinates the maids so I see that the maids from like our little spreadsheet that we track things on Maids are already ready they're scheduled so they're probably cleaning today at both places I don't know that doesn't take much time for her to do it or for me to do it people check in this weekend at both places assuming everything goes swimmingly like probably not gonna lift a finger so it's it's great like having properties live is fantastic when I get back from this work trip I'm looking for property number three so so with two properties up my time constraint with a business partner might be we do a one-on-one like once a week and that's probably 30 to 45 minutes and then um other than that like I I don't spend much time on it she handles all that that's kind of like what she likes to demand the automated messaging handles out so I'm going to call it without the one-on-one 15 minutes for two properties 30 minutes now I'm gonna start looking for property number three so I'm gonna be hitting the phones negotiating doing all that and I would say I'm going to spend depending on how quickly I can lock one in a couple hours a day until I find that property and I'm pretty confident like if I start calling Monday Tuesday Wednesday next week I'm gonna find a property by Wednesday so let's just call it six hours but two hours a day if I can avoid getting in the paralysis by analysis and that's a different story but I just got to remind myself don't get stuck and then let's say we get that property and now we're in setup phase I did some Hands-On stuff

27:04 so I went out and built the fire pits like that's different if I'm setting up a property or having the stuff delivered out there and having somebody else set it up I would say you got to dedicate a good portion of a weekend just communicating with that individual whoever's setting it up it's going to take a couple weeks to get all your stuff there you got to coordinate that one weekend to like make sure everything's kind of set up perfect and probably a lot of face time and everything that's a handful of hours for sure at least let's say you could set up a property pretty well and like two days if everything was delivered there and ready to go and I'm a control freak so I have to I'm like still at the point where I feel like I have to fly in and like do the last check so so I plan on doing that yeah for sure I mean I think it's a good thing good problem to have because you can go make sure everything's good and especially for your first couple like I was kind of the same way I wanted to at least see the final product you know in person before we went live but now at this point it's like I've you know hired out a lot of that stuff and so I just get you know every other day you know especially during like the setup phase I'll get updates from you know like my project manager managers as they're sending it up but then like from you know getting listing everything to taking photos like that's all streamlined so I don't have to think about it until it's live and you know there's properties I've never even like looked at I don't even know like I

28:21 couldn't even tell you where it is on the map like it's it's to that point and that's kind of where I want to get to um and it sounds like you're gonna be there in no time yeah I want to get there too and I like it I've kind of experienced the each step like kind of being Hands-On being there and I'm like oh these are actually totally doable remote like and that's how you set it up so it's just getting comfortable with that concept and um I need to be more bold in that area dude it's scary because um like all of our properties just had a set of remote and like so I didn't really have a choice because you know here in Utah there's I'm sure that if I looked hard enough I could have found a property that would have done well but I just I knew like there was bigger profit potential outside and so I kind of was like forced into that um and so I kind of had just like learn trial by fire but as you learn and actually apply then you can figure out okay like for the next time I'm gonna do this instead just because you know it was rough you know going around this time so and hopefully like the lessons that I you know that I learned how to go through trial by fire helps you know the community but uh yeah let's talk about you know before we wrap this up you know I know you talked you know your goal is to hit at least twenty two thousand dollars in net cash flow by the end of this year like what what are you looking at for like the rest of this year uh cash flow-wise like what is your goal uh up for the coming years I mean I think first and foremost is like property

29:39 number three and what that's gonna be going rogue a little bit it and I'm adding a boat rental to both of my properties so I'm gonna see what that does because if you can advertise the property with a boat rental I think it's going to do tremendous things not only on the revenue for the boat rental but also like for the property itself so that's also that's like task one and two so it's like I think that's a killer amenity right you're next to a lake you can rent a boat and it's dedicated to you with the property so I'm going to test the waters there maybe it takes off like a rocket ship maybe it ends up being a whole can of worms that I don't want to deal with but it's something that I'm passionate about so I'm gonna try it based on what I've done at my research and everything I feel like each one of those moves could generate 10 to 15 000 Revenue conservatively both in the ADR of the properties and then the revenue that I'm going to get off the boat so that's another 30k so if I'm making 3K on each property right now that's 6K a month if I can do another one to two k a month or up to eight thousand then we add another property now we're up to 11 to 12 000 cash flow per month let's say we had a boat to that one now we're like around 14 15 you kind of get the gist and then I was looking at some revenue streams too I'm really passionate about doing property reviews and I was thinking about suing our website possibly advertising that as a public offering

30:57 for people that are outside of the classroom I was gonna talk to you about it but I guess I'll talk to you about it now and like doing that and then doing a couple things like maybe doing that and then offering our Property Management Services if the property works out for them helping consult them on how to set that up driving them towards uh your program to help getting that going so it's like an advertisement little it's the kind of the catch but it also adds value and then it helps them and if they want to go like here's the best way to learn is go into you know Preston's program or in I would love to be your property manager if you're open to that so like that could open up options I'm looking at using the skill of like analyzing the market and properties to maybe find some underperforming properties and contacting the landlords to try to like I don't know if the Arbitrage but I offer them our Property Management Services versus what they're using today because their property is underperforming which I think that could be a low barrier of Entry to like you know Arbitrage you're getting a lease like this could be something where it's like hey we'll charge you a percentage to be a management uh vacation management kind of deal for even finding those and Arbitrage event or I've got another now two or three people that are interested in purchasing properties so I'm kind of keeping my head on a swivel to look for properties for them they buy it I write up a lease and like that's part of the the deal to the mortgage companies like hey we've got a lease in

32:15 place for this a guaranteed lease I'm going to purchase it it's going to help them get in the door on the purchase so anyway like they buy it we manage it down the road eventually so I want my business and it's close to it to where I don't have to put money into it like it's running itself even for like new property setups and I'm kind of get I'm like I think my next one we're going to be there but then down the road I want to be the one buying property and then managing them and doing all that so getting equity and all that so I got a lot of ideas that's why I need somebody help me organize them that's how 22 000 a month I think can be achieved 22 000 is a significant number of net profit because that's a quarter million dollars a year and that's a very in my case like you're you can take off from that number yeah I know for sure a lot of good stuff in there obviously you know we'll have conversations offline as well just to see you know how we can kind of and that's what I love about this community right it's like all you know Rising Tides lift all all boats or whatever the saying is um so yeah so really looking forward to kind of get you know networking with and that's another huge part of the is the community aspect right we didn't really touch on that but lots of really high level people in there you know locking our properties every single day like you know we're in the trenches looking at deals um and so it's really cool to see people like changing their lives every day if that's one of the the biggest things I love about just like look vlogging into

33:32 the community every single day and just seeing the progress that people are making some of the new students are on fire man they're getting going fast like it's some of us the first class and everything we we were a little bit slower to start but man they're rocket shipping and you know of course the the course is awesome but I think it's also maybe a testament to how robust the community is and now there's people with experience in there and learning curves are faster there's also some just really smart people coming in and some really driven people so it's cool to see yeah no for German uh so to wrap this up man so what advice would you give to someone that's you know either considering during the program or just you know starting an Airbnb business in general yeah I mean you're obviously looking at it because you have a passion right and you're like dipping your toes in the water and you're like hey or maybe you're just all all in and if it's something that you think you would enjoy do it like just pull the trigger whatever that hurdle is that's keeping you from already being there like just cross it because you're going to learn stuff uh whether it be about the business or just business in general about yourself you're gonna be proud of yourself for just taking a step and then as far as like what it can do for you like I'm trying to turn it into a business and change my life but if you've got like other things going on you can do one or two properties and really make an awesome side hustle because it kind of becomes a side hustle once you have the properties live it's very minimal effort you know like it's a lot so many ways

34:50 you can cut the cookie and it's almost always falling into your favor so just take the leap love it man all right dude I'm gonna let you get back to the Mexico seven you've probably been in too long you gotta get some gotta get the sun on you either the water out there at all uh if you put it down a little bit it might oh there we go all right oh boy to make the people jealous dude but uh love it dude all right man have fun in Mexico thanks for the time again and yeah we'll talk soon