Short Term Rentals For Long Term Success

Intro
Hi. My name is Rod Khleif, and I’m the host of “The Lifetime Cash Flow Through Real Estate Investing” podcast. And every week, I interview Multifamily Rock Stars and we talk about how they built incredible wealth for themselves and their families through multifamily properties. So hit the “Like” and “Subscribe” buttons to get notified every Monday when a new episode comes out. Let’s get to it.

Rod
Welcome to another edition of How to Build Lifetime Cash Flow Through Real Estate Investing, I’m Rod Khleif and I’m thrilled you’re here. And we are going in a different direction with today’s show. I’ve got a dynamic young lady named Avery Carl on the show today, and she is the CEO and founder of The Short Term Shop. And it’s a real estate company. Actually, they’ve got– I think they’ve sold properties in 15 different markets. She sold over 5,000 properties to people for short-term vacation rentals. Now, you’re wondering why is she on my multifamily show. Well, you know, a couple of different reasons. And she’ll tell you that, you know, it’s a great idea to use short-term rentals to build cash to go out and buy multifamily. I’ll tell you that in addition to that, I think short-term rentals are very viable for some multifamily. And so, you know, I had another short-term guy on the show a while back as well. And I really believe that this is an up-and-coming– I mean, fairly well-established market at this point, as evidenced by Avery here. Now, she’s also the author of the book “Short-Term Rental, Long-Term Wealth”. And she’s got her own podcast, which I was on, which is called “The Short-Term Show”. And let’s have some fun today. Good to see you again.

Avery
Good to see you, too. Thanks so much for having me on.

Rod
Absolutely. So, why don’t you just give us a little background, where you came from, why you got into short-term rentals, if maybe you started out in a different part of the real estate game, or, you know, and I know you’re a broker or, you know, you’ve got a real estate company that has done a ton of sales in this business, but maybe that’s where you started. But just give us a little bio, if you would.

Avery
Yeah, so I kind of fell into real estate investing, as I think most people do. I don’t think any of us were like, oh, I think I want to be a real estate investor when I grow up when we’re kids. So my husband and I met in New York City, and we were moving from New York to Nashville. We live at the beach now in Destin in Florida but at the time, we were moving to Nashville. And we were both working in the music business, and we’re moving to Tennessee from New York. We had the opportunity to buy a house because it was affordable in Nashville at the time. It’s not really super affordable anymore, but so we had a real estate agent showing us houses, and she was really trying to get us to buy in this super hip, like, fast appreciating area of Nashville. And we were like, no way. We’re moving from Brooklyn to Tennessee. We want to live out in the country. We don’t want any more neighbors, so let’s do that. So we bought a house out in the country and then naively, we started thinking about, well, you know what? Maybe there’s something to that appreciation of these houses that are over in town and maybe we should buy one of those and then rent it out. And then when we have our future kids need to go to college, then maybe we can sell that and the appreciation will pay for their college instead of us just having to come out of our savings. We thought we were these great geniuses that nobody ever thought of this before. Little did we know that appreciation only is a stupid reason to invest in real estate. But we didn’t know. So we went and bought a house that ended up being really a good deal for a traditional, like, single-family long-term. The rent on that was 1,500. The mortgage was 650, I think. So it’s a pretty good deal. And it was only at that point that we were like, oh, we want to build a business out of this. We want more of these things. Because I was making $37,000 a year in the music business because there is always an intern that will do it for free. So, you know, $1,000 a month was a lot of money to us back then. So we said, well, you know what? We’ve got a little bit of money left to buy– like enough for one single-family property. So what can we buy that’s going to make us the most amount of money, the fastest, so that we can buy more houses faster? And so we landed on short-term rentals. We knew we didn’t want to do it in Nashville because the regulations in Nashville were just really, really crazy. They were constantly changing and we were not in a financial position to afford to take that gamble of buying something and then not being able to use it for what we needed to use it for later. So, we said where can we go where it’s the normal thing for people to rent something other than a hotel when they go there? Like a cabin, beach house, or condo. So we have just been on vacation to the Smoky Mountains, which is about three hours east of Nashville. And we stayed in a cabin. Everybody stays in cabins when they go there. And we thought, well, somebody owns these cabins, why can’t it be us? So we bought a cabin, figured out how to manage it remotely, there weren’t really any education tools like there are now. There are all kinds of courses in education and things now, but back then those things didn’t exist. So we figured out how to manage it remotely and we’re able to scale that from one short-term rental in the Smokies to five over the course of about a year because they cash flow so heavy. And then we were able to scale that to about 220 doors total over the course of about five and a half years just by reinvesting all that short-term rental money into other types of real estate. I’m a big believer in a diverse portfolio, and we can get into my experiences with that as the show goes on if you want. But, so eight of our doors are short-term, the rest are traditional long-term multifamily, and then we’ve got also a bunch of long-term single-family and duplexes that we use the BRRRR strategy on.

Rod
Okay, so you’ve done quite a bit. You’ve done the BRRRR on the single and some small multi, you’ve done some larger multi. And I know we talked about that before we started recording. You mentioned that. And then you’ve got eight of these short terms. Now, you know, we talked about this before we started recording. I know there are people that do short-term rentals around big plants and companies and health care facilities for people that they bring in, to train nurses, doctors, and so on and so forth. But you focus on the vacation market. And you spoke about regulations, and I know that’s something that comes up quite a bit because I was actually looking at short-term rentals here in Sarasota, and, you know, the hotel lobby here is very strong and they will screw with you, and say, you know, no rentals under a week or whatever. Why don’t you speak to the regulatory component of this for a minute?

Avery
Yes. So that’s a really good example and part of the reason why our strategy is what it is. So, you know, we started in Nashville. We knew those regulations were not good and we didn’t really want to mess with that. So we stick to regional drivable vacation markets that have very little hotel presence and not as many people who live there for primary homes. So, for example, we’re in the Smoky Mountains in Tennessee, Destin, Florida, Panama City, Florida, and Gulf Shores, Alabama. I’m not going to list off all of them, but–

Rod
You got every redneck spot listed here.

Avery
Yes. I know. And you know, they like to spend money.

Rod
It’s funny.

Avery
You know, I grew up in Mississippi, and, you know I– it has ended up in a lot of places that my fellow Mississippians go on vacation has been where we’ve opened up offices.

Rod
I was just in Nashville yesterday, and Tiffy and I, my wife, we walked down– is it Broadway? That has all the country music bars. First time I’ve ever seen it. It was really kind of cool. I’m just not my music style, but it was really kind of cool to see that. We were there looking at Nashville, at an asset we’ve got. So anyway, I digressed, but yeah, I mean, you’re talking about Destin, they call that the Redneck Riviera. You’ve got the Smoky– you know, what’s interesting is my brother actually does Airbnb now. I had forgotten about this. He’s got some cabins in Blue Ridge. Is it Blue Ridge, Georgia?

Avery
Georgia.

Rod
Yes.

Avery
We have an office there, too. Yeah.

Rod
Okay. Yeah, he’s done well with that. Okay. Sorry, I interrupted. Please continue.

Avery
No, no, that’s okay. Yeah. So we focus on those types of areas that have little hotel presence, not a lot of primary owners, and places where the majority of the real estate that’s ever been bought and sold since before Airbnb existed, since before the Internet, in a lot of cases has been short-term rentals and second homes. So, like in Destin, they’ve had vacation rentals since before there was electricity. So we like to stick to places like that. I call them mature vacation markets. So there’s not– you know, those regulations were established a long time ago. They’ve been around a long time. It’s not a new thing. And I hate to keep picking on Nashville, but I just do that because I used to live there. So we stay out of metro markets for the exact reason that you said about Sarasota. So Nashville, Sarasota too, up until like 10, 15 years ago when Airbnb and Vrbo kind of became a big thing, all the tourists that went to Nashville stayed in hotels, and then short-term rentals became an established asset class. A lot of people started buying them and started taking the market share away from the hotels. So hotels aren’t happy. Hotel lobby doesn’t you know, they do what they do, and then there’s a lot of primary homeowners that are like you know, they were trying to raise their kids on a quiet street, and then all of a sudden you’ve got a national bachelorette party house next door and you don’t want that. So those are the types of things that do not lend themselves well to having a successful short-term rental business. So that’s why we stick to the kind of markets that we’re in. And then when Covid happened too, so the further South in Florida you go, the more hotels you have, the more bigger hotel chains. So when Covid happened and they shut down vacation rentals in the entire state, the Panhandle was allowed to open that back up first for short-term rentals because there are not a lot of hotels. So we didn’t have that lobby pushing on us the way you guys did down in South Florida. So that’s why we stick to those markets.

Rod
Interesting. You know I know the income can be fantastic, but of course, you know, there is a transitory component, and, you know, in long-term rentals, you know, they got to have a place to live.

Avery
Right.

Rod
And, you know, it’s needs versus wants. And so what are your thoughts about the current economic environment? You know, Robert Kiyosaki, of course, he’s been talking about a depression for years. He says it’s going to be really ugly. You know, there is a lot of economic upheaval, you know, inflation, and gas is ludicrous right now and expected to continue for a while. And so, you know, how do you feel about that impacting vacation rentals. What are your thoughts?

Avery
So that’s a really good question. And I think you’ve heard and you’re going to find throughout the rest of the podcast that I’m going to keep saying the market that you choose is going to determine how you weather a storm like that. So, you know, if you’re buying in Aspen, people are probably not going to Aspen in a downturn, but they might still take a little drag trip to Blue Ridge, Georgia on the weekend because they’re still going to do things, but they’re not going to be able to do the more expensive things. So I like to think of it as like if you’re talking about retail, so you’ve got like the Dollar store and we’ll call Walmart. We’ve got Walmart and then Target, like a little bit classier but not expensive. And then you got like Bloomingdale’s. It was totally expensive. I like to buy properties that are like Target. So it’s like, you know, it’s a nice place to stay. It’s not the most luxurious thing in the whole world. It’s not a big expensive vacation. You’re not flying to Mexico, you’re not flying the Jackson Hole to these luxurious places, but it’s still, you know, a nice place to go, regional, drivable, so it’s cheaper to get to. And in a downturn, so all these people who are shopping at Bloomingdale’s all the time, in a downturn, well, they might have to drop down to Target. So if you’ve got that Target level property in a good economic time, the people who normally have to go to Walmart, they can shop at Target, but in a bad economic time, all these Bloomingdale’s people, they’re still going to shop, but they’re probably not going to buy the designer stuff at Bloomingdale’s. They’re going to drop down to Target. So you want those kinds of nice but middle-of-the-road, not over-the-top luxury, and you’ll still be fine. I mean, of course, there’s going to be fluctuations. Not every year is going to be everyone’s best year ever. In a downturn, there will be a few less people. But if you buy in the right market and buy the right types of properties, you’re going to be a little more insulated to that than if you just go all out over-the-top luxury.

Rod
Yeah, I know my brother did mention that things have slowed down. I think he’s got three cabins that things have slowed down for him. I’ll have to ask him how he’s doing with it, but okay, well, let’s talk about financing. How do banks look at short-term revenue? Because there isn’t a lease. I know, you know, if you’re buying like a duplex or a triplex or a fourplex, you can get residential financing and they will take the lease and they’ll take a percentage of that lease revenue to help you qualify. So you can qualify for a lot more than you could just buying a house. But how do they look at short-term rental income?

Avery
So for the most part– there are two main types of financing that people use when they’re buying single-family, short-term rentals. So the first is just conventional financing.

Rod
Like Fannie Mae?

Avery
Yeah, like Fannie Mae.

Rod
Okay.

Avery
Just go in and buy a conventional investment loan.

Rod
Like 25% down, 30-year fixed.

Avery
Well, actually, since these are single families, you can do— on Fannie Mae investments, you can do 15% down up to the jumbo limit, which right now is around $850,000 purchase price.

Rod
Okay.

Avery
Or, you know, if you go over that 20% to 25%, depending.

Rod
Okay.

Avery
So most people do that. And then they don’t have to look at the income of it for that as long as you qualify on your own.

Rod
Right.

Avery
Now, the main type of–

Rod
Just to stop you for a second. So what she just said is they’re going to look at your personal income to qualify in that case. They don’t care what you’re doing with it. And that’s right. I was thinking 25%, and I remember Fannie Mae was 15% and they have a cap though. You can do like ten to 12 loans, is that right?

Avery
Right. You can have ten loans in your personal name.

Rod
Right.

Avery
So if you’re married and if you each have your own income and you can each qualify for ten on your own, then you can have 20.

Rod
Okay.

Avery
So, if you’re married, try to alternate and not put both of your names on every property because if you put both your names, then you can only get ten.

Rod
Right. You hit the limit. Okay, good. Good advice. Okay, please continue.

Avery
Yeah. The next type is DSCR loans. So this is a portfolio loan. It’s not a true commercial loan, but what DSCR stands for is Debt-Service Coverage Ratio. So this is where they start looking at what the property will do. So if you’re out of conventional loans or you can’t qualify on your own for a conventional loan, what they do is they look at what the property will make and it needs to cover the debt-service, so debt-service coverage ratio, on a one-to-one ratio. So, what I mean by that, for those of you who might not be familiar, is if their mortgage is going to be 2,000 a month, they want to see that the property is going to make 2,000 a month, which of course, it should be able to or else you wouldn’t be buying it because it wouldn’t be a good deal. But DSCR loans, they don’t look at your personal debt to income. Your credit score is a factor, but they use what the property will make to qualify you rather than your own personal income and debt. And you can have unlimited DSCR loans. Now, people are like, oh man, this sounds great, this sounds great. And then they hear the interest rate and they’re like, oh, I don’t want that. Well, you know, the banks are giving you a loan based on the idea that you’re going to manage this well enough to pay the mortgage. So they’re going to make their money somewhere. And it’s that the interest rates are higher than conventional.

Rod
So these are smaller and regional bank loans then.

Avery
These are with big national brokerages. There are only about four brokerages–

Rod
Okay, so it’s private equity, then. It’s private equity.

Avery
It’s private equity. Yes.

Rod
Okay. So these are like bridge lenders, these are like hard money lenders and they’re making loans based on the projected debt service coverage ratio. And guys, you know, in our multifamily business, of course, DSCR is very prevalent, I just taught it this last weekend, to 700 people. You know, in the multifamily space, you know, and it’s an annualized calculation. In the case of multifamily, you take the debt for the year, and let’s say it’s $100,000 and your net operating income is 125,000. That’s a 1.25% debt service coverage ratio, which is about the minimum you need for multifamily. Now, you said it’s one-to-one. So if you can show one of these, you know, effectively hard money lenders to do a DSCR loan, you only have to do one-to-one. So you just have to show that it will break even, basically. Is that correct?

Avery
Right. And also you mentioned something that I want to call out too.

Rod
Okay.

Avery
So there are DSCR loans for long-term rental and then there are for short-term rentals. So as you’re going and shopping for financing, make sure that if you’re trying to buy a short-term rental, that you ask upfront and you know that they’re using short-term rental income to qualify it because the last thing you want to do is get three weeks into a deal, find out they’re using the long-term rental 1007, and then you’re stuck. And you have to start financing over again. You don’t know if the seller is going to extend. So make sure upfront that they are using that second– not second home, that short-term rental income.

Rod
Got you. The right program. Yeah. And that’s very common. And I will tell you, you know, with what’s happening economically, debt has become very, very volatile. And I don’t know the impact that it’s had on your business yet. I know the impact it’s had on ours. And we had to go 60% loan to value on this Tennessee asset when it was 80 a year ago, you know. What sorts of things are you seeing with financing? I’m assuming they’re tightening up.

Avery
They are, they are. So, up until about March of this year, you can get a DSCR loan for 15% down. Now, you have to do 25, in most cases. Every now and then there will be 20. Sometimes it’s 30. Like it’s kind of creeping up the debt– the ratio. Just like you said, so the loan to value. And then, what we’re seeing is, you know, last year everybody could afford a $1.5 million single-family. Everybody was buying these huge houses. And so now with interest rates rising, we’re seeing a little bit of a slowdown in the amount of people purchasing. But we’re– more so than not, we’re seeing that people are pivoting to cheaper markets where they can still go ahead and get an asset and they don’t want to sit out and wait. They don’t know what’s going to happen or the interest rate is going to go higher and they wish they would have bought now. So they’re just buying cheaper things. So it’s a little less risky, but, you know, it’s definitely like, remains to be seen in what’s going to happen.

Rod
Yeah, and I think it’s going to get worse before it gets better. But, you know, it is what it is.

Avery
I agree.

Rod
Talking about what you should do and shouldn’t do if you’re going to consider this, you know, short-term rental business. What are some do’s and don’ts?

Avery
So I’ll preface this with– there are a thousand ways to be successful in real estate investing. There are a number of ways to do it in short-term. My way is not the right and only way, but it’s worked for me. So, you know, I’m just going to give you my experience. To me, the number one thing you want to check when you’re looking at markets is the regulations. So, for example, I used to have an office in Nashville, and I would have people call me up and say, hey, I’ve found this million-dollar house. It’s awesome. It’s going to make a great short-term rental. Let’s [inaudible] on it. And I would look at it and say, oh, this is not zoned for that. So, people had no idea that there were regulations. So you have to make sure before you start spending money that you know what the regulations are and that you’re going to be able to use this property the way you want to use it. And so that’s the number one thing.

Rod
Before you go on, give an example of an onerous regulation?

Avery
Okay. So, in– try not to continue to harp on Nashville, but I’m just going to cause that–

Rod
Sure.

Avery
So Nashville, you can only have short-term rentals in very specific commercial zoning. And you used to be able to have them in any type of zoning, and then they changed it. No residential, but you could have residential mixed-use, and then they changed that. And the zoning just keeps getting smaller and smaller and more specific to where there’s very, very little that you can actually buy and legally short-term rent. And the cities do keep an eye on that. So if you think you’re going to skirt the rules and you’re going to buy something, you’re just going to slap it up on Airbnb and nobody’s ever going to notice. They go through and they will email you and they will find you and they will notice. So don’t play around with your money like that. Just make sure you’re following the rules and coloring inside the lines.

Rod
Okay. So regulations, what else is there something to watch out for?

Avery
So I personally will not buy in any neighborhood or area that’s mostly primary homeowners because at the end of the day, even if the regulations are favorable, your neighbors can make it difficult for you. And nobody– like even me, I live on 30A in Florida, and this is a vacation destination. 95% of the real estate is vacation rentals. My particular neighborhood doesn’t have a lot of them, and somebody bought one a few doors down. And I make a living on short-term rentals. And I was the first person to be like, you’re not going to short-term rent that, are you? Because I’m trying to raise my kids over here. So nobody wants that next door to them. So make sure you’re buying in a neighborhood where there are other short-term rentals already. You’re not going to be the only one because your neighbors can make it difficult for you. And so again, that goes back to choosing the right type of market. So my next point would be there are three types of markets to invest in short-term rentals. There are metro markets and then there are what I call the “big fly to” vacation markets. So like the Jackson Holes and Hawaii that we talked about earlier, where there are big expensive vacations that people are having to save all year or several years in some cases to get flights and it’s expensive to go to and all that. And then there are the regional drivable vacation markets. I focus on regional drivable vacation markets because of– some of the things that I’ve already said, ones that don’t have a lot of hotel presents, lots and lots of tourism, but also because they’re an affordable vacation and they’re an accessible vacation. So, when you start running into uncertain economic times and whether it’s financially driven or whether it was Covid a few years ago. So when it’s financial, people don’t want to take big expensive vacations. When it was Covid, people just didn’t want to get on planes and be breathed on by other people and get sick. So they would still take you know, two to eight-hour drive vacations to regional destinations. So they’re accessible and then affordable. Same thing. You know, you’re not going and renting a– you can go rent a two-bedroom cabin in the Smokies for not a lot of money, whereas if you’re going to Breckenridge, it’s going to be a big thing. So affordable, accessible vacations are what I focus on.

Rod
Interesting. Yeah, very interesting. You know, and I’ll tell you, it’s been a while, but I remember an economist saying he thought actually that the whole hospitality sector was actually going to do okay through this coming contraction because there’s a pent-up demand because people have been locked up with this Covid crap. So, you know, that’s a component that may actually help your business if he’s accurate, you know. It had some merit to me. It made some sense. So, when you take a look– and I know guys, that this is kind of veered off from multifamily a little bit, but hopefully you’re getting value, I’m sure you are. So we’ll take it a little bit deeper. But when you’re evaluating a potential you know, Airbnb possibility, you know, how do you analyze it? What are you looking for?

Avery
It’s a great question. So it is not like– it’s very difficult for people who are used to analyzing multifamily to come over and start analyzing short-term rentals because multifamily, the rent is what the rent is until this person moves out, then you rehab it and then you raise the rent. Whereas in short-term rentals, the rent is different in July than it is in February, depending on, you know, where you are and what your high season is. So there’s a seasonality component. So the way that you analyze short-term rentals is there are now several different data sources that measure the performance of all the properties, all of them on Airbnb and Vrbo. So one of them is AirDNA, and one of them is Rabbu. And then there’s another one that doesn’t do annual, but it’s called the PriceLabs Market Dashboard. So PriceLabs is something that you’ll need to buy to help price your property after you close on it. So we can talk about that later. But there’s a component of it called the Market Dashboards, which shows a 30-day snapshot of the performance of the entire market. So you’re able to see a market-wide picture of what all the four bedrooms, all the three bedrooms, you look at it by the number of bedrooms, what their average occupancy rate is, what their average price per night is, what their average gross annual income is. So you’re able to see that on a yearly basis. And unfortunately, the bad thing about it is it doesn’t go back very far, like not further than 2015, I don’t think, because it just wasn’t an industry yet.

Rod
Sure.

Avery
But you take a look at the different data sources and you’re trying to– so say you’re buying a four bedroom, so you want to look at all the data sources and come up with a range of what you think a four bedroom should do. Now, the thing about data is it can’t tell you why a property is performing the way that it does. So, we use at The Short-Term Shop, what we call the Enemy method, which is basically the equivalent of going on Airbnb and Vrbo and running comps on the property that you plan to buy. So if you’re planning to buy a four-bedroom and it’s at this address, you zoom in on the map on those areas and you look at the properties around you. So data can’t tell you that, okay, well, this property tells you what it’s making, but it can’t tell you that it’s making that because–

Rod
There’s a pool or, its right, you know.

Avery
Or even just like if it looks bad in pictures like if they have bad pictures and the paint is peeling off or whatever, it can’t tell you that kind of stuff. So you use the Enemy method to kind of zoom in and figure out, look at the real-life examples of okay, well, this person next to me, this looks like Michael Myers lives in this house and somebody’s going to get killed in there, their price per night is going to be lower than what I’m going to get. Or if somebody is, you know, offering a private jet, private chef, private chauffeur, you’re looking at their price per night and going, well, okay, I’m going to do less than this because I’m not offering all these things. So you’re using the data to kind of get a range and then you’re using the Enemy method to kind of look in your neighborhood and kind of see what other people are getting and match that up.

Rod
That makes sense. It makes sense. So the last question about this is management. You know, obviously, if you don’t live in the Blue Ridge Mountains or Destin or whatever and you want to buy one of these things,– now, I know there are companies that provide this. Now, my brother said he just had to fire his because they sucked. But, you know, what are your thoughts on the home management component?

Avery
So there’s a time and place for property managers when it comes to a short-term rental. And this is not my thoughts on long-term. All of my long-term rentals are with property managers.

Rod
Right.

Avery
With short-term, if you are in a position, if you’re an investor who’s like, okay, I’m really bootstrapping and really trying to grow my portfolio and I need to squeeze every last dollar out of this so that I can do that, self-management is going to be the way to go. And with self-management, you can do it from anywhere. It’s just a mindset shift. A lot of people are like, oh well, what do I do if the toilet breaks? I’m going to do the same thing as if a toilet breaks in my office behind me, I’m going to call somebody because I don’t fix toilets. I don’t know how to fix the toilet, so I’m going to call somebody regardless. So you really just need a good cleaner, a good handy person, and a good property management software system, of which there are a lot. The one that I use personally is Hospitable, Hostfully is a good one. Guesty for Hosts, there are tons of them.

Rod
Okay.

Avery
And that automates a lot of the communication. So it automatically sends them their check-in instructions the day before. Automatically sends them check-out instructions the day before they check out. Sends them a link to your digital guidebook that says everything they need to know, like how to work the thermostat, how to work the dishwasher, and what restaurants deliver. So any question they could possibly have is in there. So it automates a lot of these things for you. So, I do recommend remote self-management if you are that type of investor who’s like, okay, I don’t want to give away 25% of my gross, which is the industry standard, is 25% of your gross. And to give you guys some perspective on that, with eight properties last year, if I had paid a traditional property manager 25%, I would have paid somebody just under $250,000 for something that I can do for my phone with the help of one of my VAs who does not cost 250,000 a year. And I can use that 250,000 to go buy more real estate.

Rod
Yeah. Got it.

Avery
And that’s my take on how you going to make–

Rod
Got it. Well, listen, this has been educational for me, and I’m sure those of you listening got value out of it as well. I really appreciate you coming on, sharing some of your wisdom, Avery. And guys, check out her podcast if this interests you, “The Short-Term Show”. And it’s great to see you again. And, you know, if I can ever help you with anything, please don’t hesitate. Thanks for coming on.

Intro
Yes. Same here. Yeah, thanks so much for having me.

Rod
All right, take care.

Outro
Rod, I know a lot of our listeners are wanting to take their multifamily investing business to the next level. Now, I know you’ve been hard at work helping our Warrior students do just that using our “ACT” methodology which is Awareness, Close, and Transform. Can you explain to the listeners how they can get our help?

Rod
You bet. Guys, we’ve been going non-stop for three years building an amazing community of like-minded people, and our coaching students which we call our Warriors have had extraordinary results. They’ve purchased thousands and thousands of units and last year we did over 1,000 units with our students. And we’re looking to grow this group and take it to the next level. We’re looking for people who want to follow a proven framework that’s really step by step and then leverage our systems and network to raise equity, to find and close deals, and to build partnerships nationwide. Now, our Warrior community is finding success in any market cycle. So if you’re interested in finding out more about how you can become more of our incredible network and take advantage of the incredible opportunities that are coming very soon, apply to work with us at “MentorWithRod.com” or text “CRUSH” to “72345”, and we’ll set up a call so you can check us out and we can check you out. That’s “MentorWithRod.com” or text “CRUSH” to “72345”.