How Sarah and Nico, high school friends, launched their first Airbnb

0:00 you're about to watch an interview that was not meant to be on YouTube for months I ran a pain mentorship Community where I recorded Deep dive interviews with successful airb business owners they were in surface level conversations we went behind the scenes of their airb businesses revealing the exact strategies and also the tools that they used to grow this is the kind of stuff that most people don't talk about but after sharting down the community I realized that these interviews were just too good to keep locked up so now I'm going to release them on my YouTube channel for free if you don't know me yet my name is Preston I've been in real estate for over 7 years and I built a portfolio worth $15 million and my air BBS bring in over $400,000 per year in NB profit by the way if you're interested in starting with airb be's you can book a free 101 call consultation with my team and ask any questions you want we're offering this for a limited time and there are limited spots you can apply with the link in the description today's interview is one of my favorites is with Sarah and Nico their high school friends turned into business partners we're going to be going into the specifics on how they teamed up without holding anything back and in this video you're also going to learn how they found their first deal their exact Revenue numbers and why their partnership worked and how you can set up something similar with that being said let's dive in all right uh we got Sarah and Nico here they're our business partners absolutely crushing in the AR space and so wanted to bring them on cuz they you know will have some valuable insights for us as we as they gone along this journey um so before we kind of get into all the numbers and your properties and all that uh if you want to give us you know your backgrounds on you know how you got started you know what you do for your day job and we'll go from there guys sure yeah well first off thanks for

1:17 having us Bron I appreciate that so Sarah and I have an interesting Dynamic we actually went to high school together we actually were in a relationship in high school and then after high school like we kind of went our separate ways but Sarah and I have always kind of found each other in similar paths so we ended up in sales then we actually ended up in the same digital marketing Mastermind and then we figured each other out like Hey we're both doing digital marketing how are we doing that and then we got further into sales High ticket sales with some you know some big offers in the space and you know we just finally realized that you know we're both on the same entrepreneurial path we both have really good strengths and weaknesses that complement each other we work well together we get along we're really good friends and we both just want to develop multiple streams of passive income so it just seemed like a match made in heaven I bought your program and uh then I I called her two days later to talk about it she's like I've got all this cash from the bank it's not making money like let's do this and then that's that's literally how it Formed I know a lot of people are a little bit have different uh opinion on should you have a business partner and I knew it was the right fit and you know we pick our battles we we agree on things we disagree on things but we're always keeping it moving and and focusing on the bigger picture so now we're here and and we got our first property we're excited about it love to see her yeah so I think that's something that I want to unpack a little bit uh Partnerships because there's a lot of Partnerships that don't work out I would say a majority of them don't work out and so how have you guys and it seems

2:34 like you guys are stem back from you know to high school of this partnership working well um so what are some of you know the tips that you guys could share on what makes a successful partnership well I think uh it there's there has to be a mindset too where where both of your mindsets are in alignment of the most what's the ultimate goal and we always go back to do we want to be right or do we want to win so for example you know when we got this prop I'm in the property right now and uh that our Airbnb and you know she she lives in California where we grew up and I live up here in Oregon and you know she she flew out we we we kind of got the property ready to go and there was a lot of things we agreed on and some things we disagreed on and we we're both just really just mature about it and we pick our battles so there were some things where you know I was like I don't really like where you place this piece of furniture and she really liked it there and I was like am I really going to argue over this where a couch is like what ultimately matters is the experience for the guest not where I think the couch should go in a certain corner so as long as you're just mature enough kind of think about a business partnership is also a relationship and if you're just both mature and you're both like just focusing on the bigger picture and it's like making money getting an Roi so we can reinvest into another property when you just focus on the bigger picture I think everything just works out I think U but with that being said you also have to make sure that there are strengths and weaknesses like for for me like I've made a lot of money but I spend it all I'm terrible

3:51 with my money Sarah is the complete opposite she's very good we call her saber Sarah for a reason so she was really good at being like hey dude we don't need to spend $9,000 on a jauz let's look at these budget ones first and I was ready to jump in on it andtime that gets you in trouble and we made the right decision so little things like that when you can say like you know what I suck at these things and she's really good at it so we need to marry that and I can own that and just focus on what are my skill sets and what are her skill sets and just focus on that and again going back to focusing on the bigger picture Sarah what are what are your thoughts yeah I think it's uh an interesting Dynamic that we have I mean we've known each other for over a decade and um because we have had that relationship in the past I think it's really taught us how to communicate well with each other and that my friendship with Nico is more important than anything for me and I realized that like he said we have to pick and choose our battles and there's strengths that he has where I'm like hey I'm going to follow your lead on this I trust your judgment and there's certain things that I'm good at and we've just over the years we've realized like how to communicate and how to work with each other and we've formed that Bond you know for like 15 years so that's that's awesome yeah something that I you know this is something I've been thinking about cuz I was at this Dean Gra event I'm sure you guys know I'm being in the digital marketing space uh partners with Tony Robbins he he mentioned something interesting about Partnerships he he said that the best Partnerships don't

5:08 keep score um and I want to and I've been kind of like going to different Partnerships that have been successful in my own life or other people's lives would you say that resonates with you guys like not keeping score I would say so like I you know I think naturally I like to like it goes back to the strengths right like I naturally I like to lead and Sarah is okay with that but if I'm leading in possibly a wrong direction I'm not perfect she's more than willing to communicate that and say like hey we need to pump the brakes here so there is no score I'm I'm cool like at the end of the day we both want to win so if I do 65% of the work and she does 50 I don't care that I did a little bit more I'm not going to complain about it like this used to be 50/50 again it always goes back to everybody listening do you want to be right or do you want to win and we always want to win primarily first in our relationship so we can keep that healthy and just be friends for decades and decades to come but also that translates into winning in business yeah know I I definitely agree with with what Nico's saying I think that I just like I can't harp on it enough that like our friendship means more than than anything so I think that just having that prior communication is detrimental in like the the health and growth of this business you know I definitely think that we have I mean we've talked about you know like getting an operating agreement and just like making sure that like no matter what happens in this Business Partnership that there's always going to be you know

6:26 they're always going to like manage this business properly and I just think that just making sure that we all feel safe and we all feel secure and like there's always an open Line communication that's really all that I can ask for I mean even in business Partnerships Intimate Relationships it's like communication is the number one thing if you don't communicate with each other and say you know there's sometimes I tell Nico like hey I feel like I need a little bit more attention in this area can we talk about this and we've just really been able to develop that like vulnerability with each other and that's I think what's going to really help this relationship grow and business grow love it yeah we could talk about this for you know hours and I'm sure you know that was super helpful for you guys so but this kind of shift gears a little bit and talk you know go more into how you found your first air BB market so Nico maybe you want to kind of touch on how you were able to land on uh the specific Market that you're currently in um and you know maybe what are some of the challenges that you face while selecting that market and then how did you overcome you know that analysis paralysis yeah so we are currently we we're about two months into our first property we're in the Salem Oregon market and you know we spent you know we we set a schedule in the sense of like hey you know we've both got other jobs and other things that we're doing but you know every Saturday and every Sunday we're going to meet for at least an hour and whether we get anything done like we're going to at least connect and show FaceTime so we're at least putting time into the business and of course then we plan things out like this is what we're going to

7:42 accomplish on this day but to fast forward you know you provided a lot of good data and spreadsheets and you had a lot of good Insight on like hey you know these markets in Oregon do have an occupancy rate and that was really helpful for us but then we found is you know there's so many there's so many good markets and you can get into that analysis paralysis and it got to the point where we were like you know what dude let's just let's just get one and so we just we just took action so basically how we found this first property and I've got a lot of experience years of cold calling and and talking to and I worked in real estate and managed an inside sales team for a real estate company so that's why I knew this was the right business for me because mean I used to call for rent by owners and try to uh you know like landlords try to rent their property try to convince them to meet with the listing agent to sell their property so I can call them to be their tenant but the funny thing is I actually reached out to my network and that's how I found our first so I really encourage everybody listening is reach out to your network I I reached out to all my buddies that were in real estate all the Realtors I know in the area I said hey I'm doing this I own a housing company and a rental company and property management company it's called remote Housing Solutions if you have any listings that expire and you're like man I spent 6 months on this listing it expired and I wasted all this money and all this time I didn't make any money I said how about you have me as a contingency plan tell them that because a lot of these uh expired listings these these uh owners want to rent their house

8:58 out because they need someone to pay their mortgage so I said send them over to me so my my buddy Kevin he's a realtor here in Salem Oregon he's a hustler as soon as I told him that he's just he's kind of like a smart guy he had a listing expire it's a condo here in a fourplex and he just connected me with the owner and he set up a meeting we all sat down at the table and we closed the sale he was really intrigued about the business model like how a lot of landlords I don't think really know what this all is which is good because if you know how to communicate it properly in the benefit for them versus a traditional long-term tenant they can really see the value so that's not saying we're not f the process we have three Deals in the pipeline not closed yet you know one on the coast one in Portland and one out uh in the Mount Hood area you know Somewhere Out In The Sticks that's all from cold calling but if it weren't for us just simply reaching out to our Network we would not have this deal right now and uh you know we're really blessed it's done really well we're at like you know 90% occupancy a first month and the second month but that's really what I want to get across to people is just make sure that you're reaching out to friends family and we can unpack more of this later by even Landing some Property Management clients just as a result of reaching out to my network so that's how we landed this deal and now we're following your process and the training of reaching out to landlords expressing the benefit and enclosing deals that way that's how we're really going to grow the business yeah I love that and because a lot of people cuz you know even you someone that had that cold calling experience got caught in the analysis paralysis like so many

10:14 different markets I could go in but you just said you know what I'm just going to choose this one market you just started reaching out to your network reaching out to landlords and now you know people are going to say oh you got lucky but now you have all these different deals in the pipeline and you created that luck for yourself yep it's just from taking action you know that's why I tell everybody just fail forward just just do it and that's and we we talked about this the other day Sarah we were like we just that just happened in like 3 and A2 weeks like we've got this whole place furnished there's people coming in and out of here and we didn't even think about it once we had a referral we just jumped on it and then three and a half weeks later we're making money and it's just crazy and that all came from just deciding like we're just going to do it we're going to stop thinking about it we're going to stop looking at the occupancy rates and what's the perfect Market just do it you know and it's also been a learning experience for us and now we're really feel confident and ready to move into those four bedroom five bedroom plus properties and that's what we're on the UN for right now love that okay so maybe talk to us about because I know I think someone hears the word cold calling and like 99% of people just freeze and like I cannot do that like you know so maybe talk to us about what were some of the you know different tactics that you Ed to you know feel more comfortable on the phones and get the landlords that you know a lot of these people have never heard of this business model and get them to be comfortable with something like this Arrangement you know I'll tell you this and I want to speak to somebody who does sales coaching for a living

11:32 this is not I understand the word cold calling is you know it sounds really scary this is not like it is cold calling but it's not I cold calling that my experience is you know you get people that are just not happy to hear from you or you're just reaching out to people to try to get them to know about your business you're calling landlords who are actively trying to rent their property and you're calling and saying hey I want to be your tenant but my I'm not I'm not your traditional tenant but I'll be the best ten you ever had I I haven't had one bad phone call I've had guys and and some women who are the type A personalities or they're just like get to the point get to the point no one's been rude to me so don't get so caught up in the cold calling these these aren't random homeowners that you just knocked on their door and you're trying to convince them that let to Arbitrage their property these are people that have already expressed an interest in renting their property and as long as you're confident and sure of what you're doing and what you're saying like they'll hear you out you're not going to get a yes on every call because a lot of these landlords you know they don't know what they don't know but if you're just cool calm sharp as attack you know you know your worth and you know what you're talking about they will hear you out just get the Reps in cuz I'll tell you this if this is cold calling I will do this all day because this is not the experience of cold calling that I've had in the past or telemarketing or anything like that everyone every landlord I've talked to has either been very pleasant or it's just been very Curt and want to get straight to the point but it's been like hey this doesn't sound like it's for me or you know hey let's I'm

12:50 interested in hearing more like let's set up a meeting or can you send me an email proposal about what you guys do so don't be afraid of the cold calling this is not like what you think it is it's a lot easier than you think and uh when you just make that first call and you get the butterflies out and you talk to your first landlord you're going to be like I can't believe I was even pushing this off for one to two weeks this isn't even that bad and on top of that you are coming off as an owner you own your short-term rental management company so with that said too landlords and people in general like to talk to owners it's kind of like when you're a general manager at a company and you're just the customer service rep people like speaking to the manager they're a lot more respectful and so have that mindset is you're the owner of a company you're the CEO so own that and when you're talking to these landlords they see you as that so whatever your perception may be doesn't always make it true they may actually perceive you as an authority and knowing that going with that confidence and be like I'm providing a good service here I'm the owner of a company I'm going to work harder than any property management company you've ever worked for and here's why so just make that first call and you're going to feel really good about it and it's going to make the next call easier and the next call easier I also want to touch on that is that um you know Nico's also uh like drummed up conversations by just messaging people and and asking if they accept corporate leases people are like a corporate lease like what's that you know and then you can open up that conversation line I mean I work in sales right now and I'd say 90% of the

14:07 business and the sales that I make is all through emails and text messaging like I don't even talk to people on the phone that much in the sales role that I'm in now and you know so don't don't think that that's just cold calling that needs to be done I you know I challenge you to message people on Zillow and ask if they accept corporate leases I mean if you're not confident on the phone that's not going to break this business for you yeah and you know I have a background as well so like you guys are speaking my language but a lot of people you know might not have that and it's interesting a couple of things Nico uh where you're were saying you know when I was working my WT job you know worked in software sales you know me as a sales rep we know trying to reach out to some of these Executives of these you know big companies and they want to give me the time of day but you know eventually you know like you know we're get a deal and then I would say hey like I can actually bring on my director and then you have similar titles then of course like the deal you know pushes over the line so like you said you just own it like and that also gives you the confidence that I'm the CEO of this company and then you're kind of speaking to peer-to peer instead of you you know you're speaking tenant to you know landlord U that has you know these massive properties right and so I think there's a psychological thing that happens as well when they're speaking owner to owner like you mentioned um and I think that that's really powerful in you know helping you build that confidence number one but number two getting that deal with the line totally totally and Sarah made a great Point impressing you did to that's exactly what I was saying is tendon to landlord they're the authority right they have

15:23 the thing the tangible item that you need well we're talking like when it's when it's this situation it's owner to landlord which is kind of like you said owner to owner and and Sarah I I can't believe I even forgot to bring that up too I had Sarah and I created a template and um we I just hit every every uh property that looks profitable in a certain Market I just go on Zillow to the listing hit them send send send send to like 10 or 20 of them and eventually I'll get one or two responses that are like yeah that's interesting like you know give me a call like I'm interested in hearing more about this so if you're still gun shy or just Frozen at making that first call that's the next best thing you know like presence you know someone who's worked in SAS and Sarah you know someone who's been in sales for long time the phone is the best thing but if you need some more confidence send them a message you know and and that probably takes me like 10 minutes to send like 20 messages using a template and and it works really well all right so let's uh shift gears a little bit and Sarah we want to bring you on to this conversation because I'm sure you're the one that had the biggest say in you know all the design and furniture and the number one thing right now you know in experience or creating a successful Airbnb is having a killer design um me having you know that those amenities to go along with it to create that experience for your guests so talk to us about and maybe Nico you can share screen on what your listing looks like but if you can talk to talk us through kind of your thought process and on how you designed this property yeah so when Nico brought this one to me it was partially furnished um now when we went into the property I was like wow this

16:41 stuff is really dated it's almost kind of like Goodwill just like threw up on the property and I was like all right we need to like work some things out so we wanted to work with what we had so we kind of when I went to the property I was like all right we have a red couch and we have these black chairs start contrast I said what can we do with this room to make it fun let's put a Pac-Man machine in there right so we went and got a Pac-Man machine we got some area rugs to kind of tie in the red couch and just kind of made it like a fun game room type of vibe really again partially furnished so what we really bought in this living room space was the rug and the packman Machine and the TV as well and you know some things like that so pretty simple design but I just really wanted to kind of work off of that red couch cuz that was the wow factor in some other rooms you know the kitchen's pretty you know pretty basic we just got a really nice coffee pot we also got a really nice coffee bar I don't think we actually have pictures of the coffee bar I think that was added after the photographer came but we have this like really cute coffee bar where we have you know individual wrapped coffees and we have uh like an area for all the mugs and individual creamers and just kind of made it really feel like a nice like like a very like Hotel experience so again you know some of this a lot of this furniture came with it U we had this random purple and green lime green wall that kind of reminded me of like Barney and I was like that is got a so

17:59 Nico and I actually spent one Saturday night you know until midnight painting we got this really cool um you know design from HomeGoods and a nice white table I just wanted to feel really like kind of modern and brighten it up one thing I did struggle with I will say is you know like being kind of type A I wanted to like come in and like rip up the carpets and like repaint everything and just like make everything look super nice and modern we didn't have the time to do that um so we just really had to work with what we had this room we kind of took a bunch of different furniture that was around the house since it was already partially furnished and saw what would go well together I was like let's make a gallery wall so we had a really cool Gallery wall we had this like old grass bed as well and just kind of like really made it feel like kind of antiquey in there and then we have our other bedroom as well which is more um of like a modern kind of white Vibe yeah so this is really really nice there's like a deck that goes off of it as well but this one we kind of this bedroom we just kind of started From Scratch and just you know tried to create like a very light Airy vibe in there um with the budget that we had in mind for the property also that was a big thing is the market that we were in we were like we don't want to spend more than like $8,000 and we need a hot tub you know so it's like let's try to prioritize um certain things in this property the

19:16 bathroom is actually one of my favorites because we decided to put like little rolled up towels on the bathroom and I think it makes it feel like very Hotel Vibe but it was a lot of fun shopping for for the property I'm just tried to play with shapes and you know just tried to work with what we had and the lighting we had so yeah this is our picture of our hot tub here we actually need to have the photographer come back out again to do new photos but our backyard I think really is the wow factor you know we have a threers hot tub right there right by the deck on the deck we have a fire pit which is incredible we have a grill we have a nice table with an umbrella so it's like going to be a really nice place for you to hang out outside and I think that this is kind of the the wow factor um that that brings people to the property yeah I love that I mean that's one thing that a lot of people kind of Overlook you know they kind of get into these Plain Jane you know type houses and try to you know put craigsl Furniture into the property and you know make it work and they're like why AR why aren't I getting bookings but like you said you guys have you're right like next to a river you know have you this incredible design that you guys created uh along with like this is going to be the centerpiece the backyard with the hot tub the stream lights and the fire pit right next to it you have to think about it from the perspective of if I were booking on air M right now like what makes me want to choose this property over others and if you can't really come up with a good reason why

20:33 you would choose yours over another then like it's it's you're probably going to be in a in a losing battle but you know it seems like you guys were able to take you know some of the furniture pieces that were already there uh and you know create it you know obviously get some your own so what what was like the you know Financial uh cost of you know getting your property completely set up with all the designs and everything that you added so it's actually that we use the budgeting template that you provided which is incredible um but I kind of customized it a little bit just because it was partially furnished I kind of put everything on one page instead of doing each room like you have it if we had a completely bare property I would have kept it the way that it was but I put everything from like my even my flight to Portland from La in there um we came out to what 7600 um yep just a little bit over yeah so that's that's totally everything you know giving a referral fee to the realtor that found the property Kevin for us you know and referred us on over you know so there was a lot of stuff that the property uh that we used like the couch and such but yeah so just just shy of 8, 7600 to be exact and that's all in that's like you know the first and first month and deposit and all the furniture a lot of people say you know is it actually possible to first place with you know 10 grand and you even add your flight like you you know what the extra mile to like down to the penny and your nickname sa Sarah is com you know coming out right

21:51 now but yeah I mean love that like you can as long as you find the right place and obviously like the bigger property you get the more expenses you're going to have cuz just cuz you know with a bigger house comes more expenses but it's definitely doable and you guys are living proove for that that's awesome but I want to kind of shift gears a little bit on now the operation side of the business because when I first was looking into going to the short-term rental game I was like well like how am I going to coordinate all the cleaners how am I going to manage all these calendars and all these different scenarios started popping into my head and it's got overwhelmed and it's kind of put put it off for years so how are you guys you know optimizing and streamlining your business with your boots on the ground team Nam your cleaners handyman and so forth uh well I mean that's a good question and so we like to do things a certain way so to any of the listeners here like you can do it your own way I like to be involved so we do have a cleaner that is part-time but I actually will come in and oversee the cleaner I like to maintain the hot tub myself the one thing is it's kind of like my brainchild I love the chemicals and shocking it and kind of like putting the strip back in and be like oh it's perfect the pH level the chlorine it's great but that's just me there's I know a lot of people especially in your community too that it's you too Preston like it's all hands off like you've got a whole system for it so in terms of the guest messaging it's so it's so minimal amount of time right like we have a template every time we get a booking we like to wait like 20 minutes so it seems authentic and we send out our template so it's like oh

23:09 they just saw that we booked and we send it out and then you know the day of we send the checking instructions like uh two days into the booking I'll send like a quick little followup it's really basic so even if you have a full-time job like this is not a lot of work especially if you don't want to be involved at all and you've got cleaners coming for every visit I'm kind of a I got a bunch of side hustles going on all the time so I'm constantly live about an hour from property but I do uh work out here in Salem with some real estate brokerages and then I like to be involved so sometimes if the cleaner can't come I'll clean it myself and then I'm like hey cool that's extra money from me on the cleaner fee right so I don't mind it it's therapeutic for me I like taking care of the hot tub I always go all in 110% everything that I do so I like walking out of the store being like okay I did the final check it looks good but it it really doesn't take up that much time it hasn't stressed me out at all it's super easy as long as you're kind of on top of things and prioritizing your time it's really it's really stressful really is yeah and it sounds like you guys are looking to scale right and so as you guys continue to scale you know this model to other properties like what's kind of your game plan to and obviously you can't go and clean all these you know if you have five houses you can't go and clean all of them so what's kind of your plan to you know kind of build that Foundation to be able to scale um e gr yeah yeah it's funny we're we're talking about this too because like Sarah's like you know when we get that four bedroom are you going to clean that I was like absolutely not so yeah so we're going to definitely that's why we want to keep

24:27 things local even though we're ready to take one out of state because you have a great process on how to get that done in the program and in the training so we're ready for that too but for the time being we just want to have one property in every really good Market here so what our strategy is and luckily for us some of the best markets are only like an hour in each direction from where I live so but the the strategy is going to be we're going to have cleaner we're not really confident in a cleaning company we want to have someone who's like off Thumbtack or some of the sits that you recommended someone who's going to be dedicated to the property because if we're expecting you know uh DNA for example was expecting like a 70% occupancy rate for our property and we're at like 90% every month so knowing that we're going to have a system of of cleaners that that are going to uh clean every single time especially if the house gets bigger and then uh my plan is to have some sort of helper or an errand Runner that I can hire like off Craigslist or Thumbtack to be able to oversee it and then my plan because I do my schedule is my own is to be able to go out there and oversee it so that's our process for right now and then eventually you know we just want to make sure that for this property we want to get get our return on investment as soon as possible so for us this being a two-bedroom condo it's not going to produce cash flow like a four-bedroom house so for us that's why I'm willing to come in here and do the cleanings because when the cleaners not being able to come out here because then that's more money that's in our pocket and getting an Roi a little bit faster but

25:44 obviously we know that that's not scalable so yeah I think um it's also important to notice that and important to note you know like look at people's cleaning fees some almost kind of like Airbnb property owners are just constantly trying to like undercut everybody else the cleaning fee so when I was on thumb Tac and I was kind of doing some research trying to find us a cleaner um I was kind of coming into a problem where I noticed that some of the cleaners were coming in higher than what our competitors were charging for a cleaning fee so you know also something to note and I mean who knows the guy's a limit like if we continue building or portfolio we may own we may start our own cleaning company you know and hire from there like you know I've seen people do that and and I you know I'm not going to put that past this so let's get to what that you know everyone you know likes to get into the the weed of it the actual Financial so I know you've been live for a couple months uh you guys sounds like it's been doing great uh do you have you know some of the numbers of what your property is looking like so a couple questions so number one how is your have your properties performed in the last couple months uh one is peak season and then what do you expected to do you know from like a 12month average so the our first month we was last month so we launched April 4th and we started getting bookings immediately and I feel like the the algorithm on a we had four the first day we launched yeah so I think the algorithm was in our favor too and plus we just had I can't stress this enough side not get photography guys listen to

27:01 Preston don't do it on your iPhone the photography is what took it to the next level cuz all of our competitors with comparable properties that horrible photos but last month we netted after expenses I think 1,000 bucks was it and we're going to do a little bit more this month and just so everybody here knows I think a lot of people get scared of like if it doesn't book am I going to be able to pay the rent our rent is already paid through August so we already have a lot of bookings through August and it's already like the rent's already covered we're paying $650 and that includes negotiating with the landlord 00 of the HOA is included so the landlord's thatting like 1350 and then our utilities is only Gas and Electric so by June our Peak season's going to be June July August September slow season is January February so that's when we're going to start preparing probably November for the midterm rentals trying to get some like traveling nurses or because this is the capital of Oregon we're in in Salem and there's a lot of government buildings around here June is already looking like it's going to be uh we're going to 2 to 3x what we did in April so June we've already generated gross close to $4,500 in revenue and our I have the numbers right here so actually in April we did 3715 so minus 16 minus the cleaning fees so we probably netted like 15 15 16 maybe and then this month we're so far at 3,000 we saw some availability June we're at 4158 again in our rent is 165th so you know and then June July we still have a lot of openings but we also have

28:19 the rent at least covered those months so you know everything from here on out is going to be profit so I mean sounds like you guys are you know crushing it with this property and now you you kind of got that proof of concept now you're like okay that just put you know gasoline to the fire continue scaling um so what's kind of your goals for the end of this year I know you mentioned you know teas a little bit that you're working on a few deals uh that you know are in the pipeline uh so what's kind of your ultimate end goal here by the end of this year and maybe like in the next few years well definitely want to have four properties at a minimum by the end of the year there's plenty of time like if you talk to the right person you can get a property tomorrow as long as you're doing the thing which is income generating activities which is making the calls making the uh reaching out to your NW work and messaging people so at the minimum we'd like to have four but you know we're not we're not and like this this property was great it was a good learning experience it was a smaller one we got our feet wet we've made mistakes we've learned along the way that's why we feel so confident just in our abilities but from what we've learned from this property that we're like let's we're going for it like we and that's what I love about you know Sarah too is even though she is Sav Sarah like we make a joke but Sarah's still an action taker too and I only want to be doing business with action takers so she's like we're looking at like Hermosa Beach right it's like you know we could get some we could get a few two three bedroom homes but why not just get a banger that's what we keep calling it we're going to get a banger that's why we're looking at one on the coast hey the rent might be $4,000

29:38 but each you know it's like it's going to be the same amount of work but now that we the proof of concept now that we know that you know we can do it we want to go for those those scarier bigger fish and then kind of you know be like all right well yeah maybe our Red's 4,000 maybe it's going to cost us 20,000 to get in but we're going to be profiting you know 3 $4,000 a month each you know so at that point it's like why not go for it and just really really go for it cuz at that point they only need a few doors you know well we could keep going but like really only need a few doors to like actually make six figures a year each and that's that's what we're foreseeing for the future so we're going big and uh you again we're going to learn from that but we're ready to go all in on the big ones and we felt like you know Sarah really explained it to me the same way too it's like it's pretty much the same amount of work so why not just go for for the big one too and on top of that what's really been neat about just this whole experience is like getting to just stay in your own properties like I got to enjoy my hot tub with my coffee at like 5: in the morning you know and like we get one on the coast like that's going to be cool too and your parents can come out your friends can come out and we get to make money so it's it's a it's a great thing but yeah we're we're getting to the point where we'd like to be netting uh $10,000 a month each I know 10K 10K is always a super cliche number but ultimately the number is 20K but we'd like to be at at 10K where you know Sarah can ultimately she has a great career and she loves her job but of

30:55 course she's not going to say no to the idea of being able to leave Corporate America and then both of us are just going in on this full part love that and you know it's it's interesting as I'm kind of hearing your guys' Dynamic like if you you know a lot of people are like well I don't want to partner because I want to keep 100% but if you guys can go you know three times four time five times further by having this partnership and you're going to go way faster than you could go by yourself and so that's something that you know a lot of people you know are attracted to Partnerships but in practice it might not really work out that way so I love that the the dyam dynamic between the two and like the goals that you have for yourselves you're very much aligned on where you guys want to be uh where eventually you know and how you also get there as well it's is incredibly important so it's really cool to see your guys Dynamic well 100% of the profit but you also get 100% of the risk as well so what's great about having a partnership is you split the profits right but you're also splitting the risk and you have accountability which so if you're a extremely self-motivated person and even the most self-motivated people sometimes can fall off there's just if you find the right person like I have with Sarah and her with me the the profit again it's not about yeah the profit you could have 100% of it but if we just get four or five properties and it's not that big of a deal that we're splitting the profit and we're splitting the risk and we're splitting the work and for me and her it's just it's just a way better Dynamic that way but teach the it's the division too it's like you know I came I came in with a capital right and like I came in with a design and I really wanted to like kind of help orchestrate

32:13 everything up the launch but I have a full-time job so you know now at this point I am taking a backseat I haven't sent one message like Nico is handling everything Nico is you know coordinating cleaners and just now I really do feel like a silent investor you know so it was fun at first and it's like so it's like you know yeah I may have invested the capital but Nico has done everything he's the boots on the ground there he's been orchestrating everything you know and making it happen so I don't feel short changed at all I really feel like we have a strong partnership okay so before we you know wrap things up here what are some pieces of advice that you would give to you know new entrepreneurs trying to start this business or just any business in general because obviously you know it sounds like this is like a big passion for you guys so Sarah if you want to start first yeah um I think you have got a want better for yourself I think you really have to kind of tie you know why are you doing this and and I know that maybe sound a little bit cliche but I think that you truly can have it all like you truly can have the lifestyle that you want it's just fear is holding you back and if you're okay not doing a business and not starting a business and not having passive income and that's totally okay it's each their own this isn't for everybody and I've always said that but people that do want to an Aspire to grow and to do more and to be better and you you know you just you just got to try it like like Nico says you fail forward and

33:32 if it doesn't work out it doesn't work out but I you know I was telling my my boyfriend I was like you know kind of a a unique situ situation you know working with my you know my partner or my boyfriend from high school you know and I was like honestly I said I know this is an interesting Dynamic but I almost feel like I'm going to regret it if I don't do it I'm going to regret like if I lose $10,000 I lose $10,000 but the fact of like not knowing if I'm going to like fail or succeed it it it would hurt more than than the cost of losing money like money comes and goes but like you only have one life to live well set yeah you know for me you know I'm just going to be blunt like stop making excuses for yourself invest in yourself you know that I've I'll say this i' I've bought courses for like five grand that I've never even pursued but you know what I'm going to do it eventually and I invested in myself I took a shot in myself which is more than some people have done in their entire lives so stop dipping your toes in the water dive into the freaking pool you know or you're going to be pissed off that you didn't do it so stop making excuses for yourself stop having shiny object syndrome oh I want to get into affiliate marketing oh this is this is work maybe I'll find that one thing that pays me 10 grand a month and I do nothing it doesn't exist I promise you

34:50 Preston would be doing it everybody would be doing it we would be doing it this this Magic Gem that you're looking for does not exist you have to just okay with that so find something that you like to do Sarah and I invested in digital marketing we spend thousands of dollars to get into that Mastermind and we made money we built websites for companies we did SEO and AdWords but we don't really like it ended up not being our passion so we scrapped it and Sarah you know like looked at like you know what Nick's really passionate about Airbnb and real estate I've got money let's do this it worked out so just stop having shiny objects and stop expecting something to be easy it's never going to be easy and frankly when you get into it it's not that hard but if you're just like oh I want to make money I want to make passive income but you're just working full-time and you come home and you just like spend two hours on your phone like what are you doing you know just prioritize your time if you're not self-motivated get a partner get into a community like this one surround yourself with people because proximity Is power as Tony Robbins who talking about Dean and Tony would say who are you hang out with since your parents have told you since you were a kid you are a direct product of the people that you hang out with so surround yourself with entrepreneurs and a players and watch how your your income and and your career changes mic Dro man love it guys thank you so much for hopping on and the perspective you guys shared super valuable from the Partnerships to your you know property crushing and your your long-term goals you guys are you know no I'm super excited to check with you guys in here in a few months just to see where you guys are at thank you again

36:06 for dropping the bombs and we'll talk to you guys soon hey and Preston just thanks so much for everything that you've done here man this community this course and I want to tell you from someone who's bought so many courses I told Sarah this is the best course I've ever done you literally actually do things step by step even like the ticky tacky things which most people don't do you literally go over like the tiniest little details and it was the best course for the best value I have ever invested in and I've spent like 50 Grand on horses and masterminds so thank you and then also shout out to coach Sam for helping us with this property telling us what we needed to be uh to make a good cash on cash return over the uh over about three or four years if it wasn't for Coach Sam overseeing this property we wouldn't have got this deal done so I appreciate you and Coach Sam just want to give him proper shout out yeah it was great honestly I love all the spreadsheets fantastic I love how how how granular you get in the um in the training really helpful really means a lot guys I appreciate cam we'll talk to you guys soon all right take care thanks if you're tired of watching others succeed with airbn beam and you're serious about building your own business me and my team can help you make that happen if you're interested click the link below to apply for a free consultation we'll set up a time to chat about how we can work together to build your airb business and scale to $10,000 per month and Beyond this isn't a sell SC or anything like that all this call what we're going to do is we're going to ask you some questions to really understand if this real estate model is going to be the right move for you you can ask any questions that you have as well the link to appli is right below in the description all right with that

37:22 being said we'll see you in the next video