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Speaker 1: Welcome to How the Money. I'm Joel and I and

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Speaker 1: Matt and today we're discussing hosting an Airbnb to create

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Speaker 1: real income, Ma Soul. We're gonna talk about airbnbs, man,

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Speaker 1: and this is a topic that you and I have

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Speaker 1: discussed for a while now. We talked about this way

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Speaker 1: back on episode three, back back when we're young fellas,

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Speaker 1: and way back in those early years of our podcasting youth.

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Speaker 1: Yeah and so yeah, we were gung ho about it,

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Speaker 1: and now you've actually delved into it. We talked about

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Speaker 1: a recently on the show. You're Open for Business. You

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Speaker 1: you're running out to people your basement apartment in a

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Speaker 1: couple of months that you've had your airbnb open. What's

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Speaker 1: the experience been like for you? Obviously we're gonna get

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Speaker 1: into some of the details help people figure out how

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Speaker 1: to host, but just quick off the cuff, what's it

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Speaker 1: been like? Yeah, right out of the gate, man, it's

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Speaker 1: been awesome. It's been a lot of fun. We are

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Speaker 1: making a chunk of money, like more than we thought

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Speaker 1: we were gonna make, and it's gonna be something that

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Speaker 1: we're gonna continue doing. I'll say that, you know, we're

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Speaker 1: gonna like you said, we're gonna dive into all the

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Speaker 1: details and parse it out here, but all in all,

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Speaker 1: it's been great. We've really enjoyed it, and I think

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Speaker 1: you need to join me in these very nice Airbnb waters.

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Speaker 1: So you need to jump on in. It's gonna happen

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Speaker 1: before too long. I promise you that. But by the way,

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Speaker 1: it is always nice when you get paid more than

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Speaker 1: you thought you were going to. You just said that, like,

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Speaker 1: you know what, that's a nice side benefit when you

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Speaker 1: make more than you actually thought you were going to.

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Speaker 1: But you know what's not good when you end up

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Speaker 1: spending more than you thought you were going to. It

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Speaker 1: is it was good. It was good. I liked it

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Speaker 1: all right. Cool. So on a lot of websites, now

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Speaker 1: e commerce websites, your favorite shopping website, in all likelihood,

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Speaker 1: there are options to choose to pay for an item

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Speaker 1: in installments over months potentially, and I wanted to kind

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Speaker 1: of get your take. I wanted to talk about it,

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Speaker 1: because you know, we did and it's awful, right, that's

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Speaker 1: my quick take, the quick ender. It's awful. But we

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Speaker 1: we talked recently about creating a holiday spending plan, and

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Speaker 1: it's really important for folks to consider that. But now

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Speaker 1: that these things are popping up, it's kind of like

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Speaker 1: layaway online. Some of these companies are better than others.

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Speaker 1: There are different terms involved for using each one, but yeah,

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Speaker 1: what's your initial assessment of companies like after pay and

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Speaker 1: affirm when folks choose to not pay for their item

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Speaker 1: in full at the time of purchase, but but spread

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Speaker 1: those payments out. Well. The differences is layaway, you start

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Speaker 1: paying towards something, but you don't get it right away,

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Speaker 1: right you make payments and at the end of making

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Speaker 1: these payments, then you get your item. And the difference

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Speaker 1: between that and what these programs are offering is that

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Speaker 1: you basically, I mean you you are financing and upfront

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Speaker 1: you break it down into these smaller payments, and I mean, yeah,

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Speaker 1: you know, I was being honest. I think it's terrible.

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Speaker 1: It's just a way for folks to continue to spend

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Speaker 1: without really thinking. This eliminates any need for any sort

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Speaker 1: of money plan or impulse control. Yeah, exactly. It completely

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Speaker 1: enables impulse purchasing, which that's just not what we need

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Speaker 1: in our life. And it's one thing when you have

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Speaker 1: to go into a store or and you're looking at

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Speaker 1: all the different items and you're trying to decide what

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Speaker 1: it is that you want to get, Like that's that

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Speaker 1: was like the beginning of layaway, right. But with online shopping, dude,

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Speaker 1: it's just so easy just to see something, click it,

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Speaker 1: and then boom, all of a sudden, you've purchased something

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Speaker 1: with financing and you've given it almost zero thought at all.

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Speaker 1: And so it should come as no surprise that I'm

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Speaker 1: not a big fan of it. But I know you

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Speaker 1: love it. You're all about it exactly, a huge fan. No, honestly,

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Speaker 1: you know, I don't think they're all bad, but I

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Speaker 1: do think they're mostly bad. And I think the mostly

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Speaker 1: bad part is that impulse control, that lack of impulse control.

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Speaker 1: Why are people actually using these companies? What's because they

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Speaker 1: don't have the money right now and they want an

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Speaker 1: item before they actually have the cash to pay for it.

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Speaker 1: So I think that's where the root of it starts.

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Speaker 1: Is that's why it's bad. But the terms of service

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Speaker 1: for some of these companies are better than certain credit

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Speaker 1: cards even so, for instance, there's a company called after

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Speaker 1: Pay and they don't charge interest. If you buy something

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Speaker 1: that's four bucks, you pay in four installments of a

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Speaker 1: hunter Bucks each and you pay it off in full

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Speaker 1: on time. You don't pay any interest with that company.

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Speaker 1: So in that case, it's better than using your credit card.

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Speaker 1: But I will say you still should not be mining

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Speaker 1: a four hundred dollar item if you don't have the

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Speaker 1: money to buy it. I don't like the idea of

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Speaker 1: putting on a credit card, and I don't like the

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Speaker 1: idea of paying for it in installments because you're banking

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Speaker 1: on the fact that you're going to have that money later,

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Speaker 1: and you might not have the money later and then

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Speaker 1: you run into issues. Yeah. Man, really, in the end,

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Speaker 1: it's not that different, I guess, than credit cards if

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Speaker 1: you can be disciplined about it and use it like

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Speaker 1: a tool. And that's what we say all the time

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Speaker 1: when it comes to using credit cards, right, use them

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Speaker 1: in such a way that it benefits you and your finances. Well,

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Speaker 1: then it becomes a tool. It's not this evil thing

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Speaker 1: in and of itself, but it's something that you can

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Speaker 1: use to your advantage. So, yeah, maybe I was coming

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Speaker 1: out guns blazing a little too hot ready, But like

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Speaker 1: you think, you know, here's a way that people who

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Speaker 1: aren't even their credits, not even checked. You know, when

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Speaker 1: it comes to using these different programs. At least with

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Speaker 1: a credit card, they check your credit uh, and you

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Speaker 1: may not even get approved for a card. But with

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Speaker 1: these different programs and these companies, they don't check your

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Speaker 1: credit just above exactly, it's like, oh, you want this,

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Speaker 1: sure you got it. And then all of a sudden,

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Speaker 1: you're buying amazing gift from Spencer's or hot topic, are

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Speaker 1: we going nineties and mall stores? Here? Is that we're

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Speaker 1: doing exactly? Okay, very nice. It is a sign of

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Speaker 1: the times. And yeah, I think most people who are

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Speaker 1: using it aren't using it as a tool. They're using

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Speaker 1: it as a way to get what they want without

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Speaker 1: having the money, which concerns me. All Right, Matt, let's

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Speaker 1: get onto the beer that we're having on the show today.

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Speaker 1: Today we're having a beer called Neighborhood Nomads. It's a

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Speaker 1: peanut butter and jelly Imperial stout. So this one's gonna

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Speaker 1: be fun. Peanut butter and jelly, speaking of the nineties,

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Speaker 1: and it's so. It's by brewery Casa Agrea out of California,

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Speaker 1: and my buddy Josh sent this one our way, so

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Speaker 1: really excited to have this one on the show today

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Speaker 1: with you, my friend Man, and this is not the

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Speaker 1: first time we've had a beer by Casa Agrea. The

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Speaker 1: first thing we had was a while ago, but a

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Speaker 1: very different style. It was a sour, so we could

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Speaker 1: not have something anymore different. So I'm excited to share

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Speaker 1: this one with you. Man. They don't make bad beers,

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Speaker 1: so I'm excited to have this one. We'll talk about

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Speaker 1: it at the end of the show. But all right, Matt,

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Speaker 1: onto the subject at hand. Let's talk about hosting an

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Speaker 1: airbnb and creating real income by doing it. Let's ask

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Speaker 1: a question here first, do you listener needs some extra

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Speaker 1: money in your life. I'm sure most everyone answers yes

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Speaker 1: to that question, but typically making more money involves a

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Speaker 1: straight up exchange of our time in order to get

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Speaker 1: that money. Finding ways to make passive income is incredibly

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Speaker 1: helpful along our journey to building financial independence. And we're

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Speaker 1: gonna talk about this. Matt has gone the airbnb route

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Speaker 1: because it's this great opportunity to make passive income. So

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Speaker 1: let's discuss how we go about hosting an airbnb. If

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Speaker 1: you're interested and kind of the the ins and outs,

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Speaker 1: we'll get to the nitty gritty of how you make

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Speaker 1: this happen and who it makes sense for. Yeah, well,

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Speaker 1: first man, you know, you said the magic words passive income, right,

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Speaker 1: and that's something that everybody wants to hear. But let's

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Speaker 1: it's like music to people's ears. Passive income. Let's seriously,

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Speaker 1: let's define it first, because truly passive income requires basically

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Speaker 1: no effort at all, right, no effort, no time, It

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Speaker 1: requires zero energy from you. And so by that definition,

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Speaker 1: airbb is not completely passive, and almost nothing is truly

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Speaker 1: completely passive except for investing in the market. You've got

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Speaker 1: money in the market, it's your you're earning dividends. Like,

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Speaker 1: that's passive income. So Airbnb real estate, you know, it

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Speaker 1: comes close, but it's not truly passive. But the gist

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Speaker 1: of passive income is that it might take some upfront

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Speaker 1: work in order for a continual and larger payoff down

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Speaker 1: the road. And so you know, like I just said,

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Speaker 1: we would consider investment properties as mostly passive and Airbnb

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Speaker 1: rentals as semi passive. It's like on the path to

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Speaker 1: being passive income. But as we will talk about, it

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Speaker 1: takes a little bit of work, a little bit more

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Speaker 1: work than running an investment property like you and I do.

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Speaker 1: Because there it is you're getting into a little more

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Speaker 1: of the hospitality space, not just the renting out your

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Speaker 1: space or a single family home or a part of

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Speaker 1: your house. It is definitely different. So speaking of that,

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Speaker 1: let's get into the kind of types of spaces that

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Speaker 1: might make sense for hosting an Airbnb. So, Matt, in

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Speaker 1: your case, you finished out this basement addition, and that

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Speaker 1: works out really well for you guys, But what are

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Speaker 1: are types of spaces that people can use to rent

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Speaker 1: out on Airbnb and and kind of start hosting to

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Speaker 1: make some side income. Yeah. Man, So for us, we

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Speaker 1: wanted to have a little addition, and the airbnb was

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Speaker 1: sort of a byproduct of that, right, two birds, one stone.

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Speaker 1: But here's the thing. You don't have to undergo a

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Speaker 1: huge renovation project like that in order to get a

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Speaker 1: space up and listed on Airbnb. Like, there is just

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Speaker 1: such a variety and range in the different types of

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Speaker 1: places that folks are looking for when they're traveling, right,

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Speaker 1: I mean, just think about all the different kind of

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Speaker 1: places that you stayed at when you've been abroad or

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Speaker 1: just even in the States. There are just lots of

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Speaker 1: different styles of what people are expecting and what they're

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Speaker 1: looking for. I mean, have you ever stayed at an

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Speaker 1: extra room in someone's place, you know, like where they

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Speaker 1: just list the room, not the entire place. I totally have.

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Speaker 1: So one time, when Emily and I were visiting Norway,

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Speaker 1: the land of my ancestors, we specifically decided to stay

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Speaker 1: in in this one town in a room because it

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Speaker 1: was like kind of the best location for us, and

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Speaker 1: it hit the price point that we wanted, and it

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Speaker 1: also allowed us to spend more on the Airbnbs that

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Speaker 1: we stayed at in other parts of Norway. So by

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Speaker 1: going super cheap in this one location and renting just

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Speaker 1: a room, which worked out excellently, and it just allowed

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Speaker 1: us to spend more to stay at cooler spots in

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Speaker 1: other places. And I think people often don't think that

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Speaker 1: if they have an extra room to rent, that they

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Speaker 1: can do it on an Airbnb. Some people might say,

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Speaker 1: heck no, when we propose the idea of running out

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Speaker 1: a spare bedroom. That would be me, yeah, actually specifically

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Speaker 1: my wife. But I mean we've got kids, Like we

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Speaker 1: don't want just kind of random folks in our house,

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Speaker 1: like sleeping in, you know, in an extra bedroom and

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Speaker 1: I totally understand that. I think for most folks listening,

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Speaker 1: running out a spare room in their house or apartment

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Speaker 1: or whatever doesn't make sense. But for some folks, but

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Speaker 1: especially if you're young and incredibly flexible, running out a

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Speaker 1: room isn't a terrible idea. And I texted my buddy

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Speaker 1: Greg before we did this podcast Matt because he rents

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Speaker 1: out a spare room, and I really appreciated his thoughts.

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Speaker 1: He specifically told me it's been one of the most

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Speaker 1: enjoyable parts of hosting an Airbnb and renting out a

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Speaker 1: room in his house to mean people from all over

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Speaker 1: the world, from India, Rwanda, Germany, and Denmark to name

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Speaker 1: a few. He said, say, he's connected with people in

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Speaker 1: the film industry, doctors, students, just people from all different

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Speaker 1: walks of life. And he told me, I've always had

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Speaker 1: interesting conversations and some of these people end up being

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Speaker 1: my Facebook friends. And he's just been a great way

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Speaker 1: to make additional income. His best month, he made over

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Speaker 1: nine hundred bucks running just a single room in his house.

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Speaker 1: So I guess when you're thinking about it, like, yeah,

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Speaker 1: the tradeoff that you can make, the kind of connections

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Speaker 1: and cool ability to to meet folks as well as

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Speaker 1: making nine hundred bucks a month for running out that room.

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Speaker 1: That's nothing to scoff at. Yeah, that's real money, right,

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Speaker 1: And so obviously that's one way that you can list

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Speaker 1: your space. It can just be the next room that

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Speaker 1: you have, Like if says it's just a guest bedroom, right,

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Speaker 1: maybe it's a room collecting junk. It could just be

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Speaker 1: sitting there empty for most of the year. Well, you know,

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Speaker 1: that's something you can consider listening for sure. For us though,

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Speaker 1: like I said, with the family, we're not really down

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Speaker 1: with the idea of guests staying in our house and

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Speaker 1: we're not gonna do it either. Yeah, yeah, exactly. Your

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Speaker 1: wife would not be down, especially with shared spaces. There's

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Speaker 1: a lot of communal aspects when you're sharing an extra

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Speaker 1: room in your house. Can I tell you one more

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Speaker 1: thing Gregg told me when he was telling me about

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Speaker 1: his AIRBB he said it's forced him to keep his

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Speaker 1: house cleaner than it's ever been before. So he's like,

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Speaker 1: I'm constantly living in a clean space now because I

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Speaker 1: host on Airbnb side benefit. So here's the thing though,

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Speaker 1: for us, obviously that's not gonna work out, but we

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Speaker 1: would be down for renting out our entire place all

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Speaker 1: out of town, maybe visiting family or if we're on vacation.

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Speaker 1: Literally the first time that we ever considered listing our

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Speaker 1: place on Airbnb was this situation. Just like that, we thought, Man,

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Speaker 1: if we can rent out our place and we can

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Speaker 1: have our guests, you know, they would essentially pay for

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Speaker 1: whatever trip that we're taking. It's just seemed like a

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Speaker 1: win win situation for us. But you know, what we

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Speaker 1: found was the problem was that we don't travel all

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Speaker 1: that often, so we actually never ended up pulling the

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Speaker 1: trigger on that deal. We're kind of homebodies in that sense. Yeah,

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Speaker 1: I think a lot of people to let's talk about location,

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Speaker 1: A lot of people think that airbnb is hosting. An

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Speaker 1: Airbnb only makes sense if you live in a major city,

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Speaker 1: if you live in a place with a lot of

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Speaker 1: tourist attractions. So you might be thinking to yourself that

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Speaker 1: nobody is gonna want to come and visit wherever it

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Speaker 1: is that you live. Maybe it's out in the country

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Speaker 1: or random suburb with no major attractions. But sometimes folks

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Speaker 1: are looking for exactly that they want to get out

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Speaker 1: to the country, or maybe they want to visit family

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Speaker 1: that live in the same random suburb or or sweet

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Speaker 1: little town that you live in because they don't have

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Speaker 1: enough beds to be able to stay with their family.

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Speaker 1: You never know where or why folks are wanting to

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Speaker 1: to rent a house for a few days. So don't

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Speaker 1: dismiss your place just because it isn't in a bustling

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Speaker 1: locale bursting with tourists. I think it's really important to note. Yeah, man, actually,

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Speaker 1: the next guests that we have checking in are going

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Speaker 1: to be in town to visit family. And that wasn't

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Speaker 1: the first time we've had another older couple in town

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Speaker 1: visiting their daughter because they had their first baby. Folks

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Speaker 1: do come in town for just completely random things like

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Speaker 1: that that you would not expect them to. All right, Matt,

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Speaker 1: We've got to get to all of the potential benefits

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Speaker 1: and drawbacks too of hosting an airbnb, and we will

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Speaker 1: get to those right after the break. All right, Jel,

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Speaker 1: we're back. Let's talk now about the benefits of hosting

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Speaker 1: an airbnb. And here's the thing. This isn't necessarily going

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Speaker 1: to be an exhaustive list of all the things that

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Speaker 1: we think you need to consider, Like these are all

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Speaker 1: the benefits of Airbnb. A lot of this is gonna

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Speaker 1: be personal because you know, this is something we've been

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Speaker 1: living for the past few months now, and these are

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Speaker 1: the things that stood out to me and they are

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Speaker 1: going to be the things that I think a lot

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Speaker 1: of folks will be able to resonate with. So the

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Speaker 1: first of which is the money, right, like the income

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Speaker 1: side of this. Obviously, that's that's ultimately why you're doing it.

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Speaker 1: If you're if you want to host an airbn be

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Speaker 1: there other side benefits to doing it, and we're gonna

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Speaker 1: get into those, but but really you want to make money, exactly. Yeah,

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Speaker 1: this is something specifically on and off my wife, Kate,

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Speaker 1: you know her right matter, she's toyed with the idea

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Speaker 1: of other of your four children, exactly. She's and with that,

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Speaker 1: even with the mother of my four children. She's toyed

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Speaker 1: with the idea of, like, maybe I should like get

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Speaker 1: a part time job. I think sometimes can be difficult

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Speaker 1: being in the home day in and day out, and

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Speaker 1: you sometimes want to find some sort of outlet outside

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Speaker 1: of your kids, outside of the domestic duties that she

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Speaker 1: is sort of stuck with. But she loves them. She

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Speaker 1: loves the things that she does, but sometimes you kind

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Speaker 1: of get in the funk, right, She's she's chosen that

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Speaker 1: it's meaningful to her, but some sort of other outlet

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Speaker 1: can be really helpful, exactly. And so those are the

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Speaker 1: times when she thinks, man, maybe I should get like

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Speaker 1: some sort of part time job. And we always in

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Speaker 1: that conversation with her realizing and you know, me pointing

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Speaker 1: out as well that like, man, that does not make

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Speaker 1: any sense at all, because childcare, just all the costs

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Speaker 1: that would be added to the mix would not be

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Speaker 1: able to be outweighed by a part time income. And

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Speaker 1: here's the thing, I don't want to make it sound

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Speaker 1: like that Kate doesn't love being a mother right in

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Speaker 1: a homemaker like she runs our household, and she is

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Speaker 1: good at it. But there are sometimes when I know

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Speaker 1: she considers the adult conversations that she's missing out on

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Speaker 1: and just the sort of challenge that comes with working

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Speaker 1: outside of the home and with those jobs, right, and

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Speaker 1: with that part time work, there is there's income that

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Speaker 1: you're not earning. And so I think she also misses

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Speaker 1: out on being able to provide like a dollar amount,

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Speaker 1: like something a little more changible to provide income for

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Speaker 1: our family. It's so certainly this is a real benefit

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Speaker 1: of hosting an airbnb, right, the income And what I'll

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Speaker 1: say about it too, man, that kind of caught us

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Speaker 1: off guard is that it's so immediate. Once you have

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Speaker 1: your first guest Airbnb, they automatically pay you, like and

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Speaker 1: that money just shows up in your checking account. It's

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Speaker 1: pretty cool. So it's not quite like a small business

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Speaker 1: in that way, like that might take forever to kind

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Speaker 1: of build up, and you're kind of slowly ramping it

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Speaker 1: up and you know at some point you're gonna be

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Speaker 1: able to make money. You get to make money right

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Speaker 1: out of the gate. It's not quite as fast as Uber, right,

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Speaker 1: Like you could literally download the app, start driving the

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Speaker 1: car and boom you've got someone riding around in your

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Speaker 1: car and you're making money. But it's sort of this

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Speaker 1: happy medium between something immediate like Uber and Left versus

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Speaker 1: starting your own business. Yeah. Yeah, starting your own business,

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Speaker 1: you're gonna have to ramp up. You're gonna have to

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Speaker 1: to find customers, and whether it's physical or it's online,

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Speaker 1: it takes a lot longer. But it's also it's real

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Speaker 1: money too, right, Matt. It's not like finding change in

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Speaker 1: your couch cushions. Yeah, it's a good bit more than that.

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Speaker 1: So so how much money do you feel like you

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Speaker 1: guys are actually making running your Airbnb and and how

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Speaker 1: much more is it than doing like a traditional lease

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Speaker 1: of that space. Yeah, so let's talk about real numbers. Man,

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Speaker 1: our first month we made over bucks and that was

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Speaker 1: starting with zero reviews. We literally went live on I

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Speaker 1: think the second day of July, and so we weren't

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Speaker 1: expecting much, but man, we we booked a lot and

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Speaker 1: we made bucks. So that was a good way for

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Speaker 1: us to start the thing. But then August and September

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Speaker 1: after that we made over six bucks both of those months, Yeah,

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Speaker 1: which is again, like that's real substantial money. After doing

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Speaker 1: some research though, we found that we're making about maybe

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Speaker 1: twice as much on Airbnb because I think we could

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Speaker 1: make if we rented it out like on a traditional lease.

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Speaker 1: And I know that even in some markets it's even

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Speaker 1: more than that. Like I know up in Asheville, you

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Speaker 1: can make about four times as much on Airbnb as

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Speaker 1: you would if you just rented that house out to

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Speaker 1: a regular tenant right on a traditional lease. And that's

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Speaker 1: because of tour them. Like Asheville is a massive tourism town.

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Speaker 1: You're not gonna see those kind of results everywhere. You

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Speaker 1: may not even see, you know, at two x return

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Speaker 1: on your money versus a traditional lease where you live.

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Speaker 1: But that's you know, that's what we're experiencing here in Atlanta. Yeah,

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Speaker 1: it's definitely location dependent, right, And I think while you can,

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Speaker 1: like we said, host an airbnb wherever you live, it

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Speaker 1: doesn't necessarily mean that it's going to be a better

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Speaker 1: idea for you where you live. It just completely depends

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Speaker 1: on those local circumstances and where your local market is.

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Speaker 1: Like yeah, and real quick to man, you know, this

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Speaker 1: is sort of assumed the way we're talking about this,

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Speaker 1: But this is a way that we're able to diversify

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Speaker 1: our our money. This isn't just bringing in additional money.

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Speaker 1: This is another channel. This is another branch of our

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Speaker 1: sort of income generating tree. And you know, the more

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Speaker 1: that we're able to diverse fire income, the the less

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Speaker 1: dependent you are on your day job and the more

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Speaker 1: stable you are when it comes to your personal finances.

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Speaker 1: And that's especially important when you own your own business

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Speaker 1: or you kind of have you know, these different side

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Speaker 1: hustles going on. It's really great to have multiple streams

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Speaker 1: of income. Yeah, that's a really great point, man. I

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Speaker 1: think a lot of people don't think about that aspect

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Speaker 1: of it, and most people don't think about having multiple

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Speaker 1: streams of income at all. So I think airbnb is

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Speaker 1: kind of a great way. It's another like leg of

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Speaker 1: that income stool that you can that you can add on,

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Speaker 1: and so I think that's another reason for people to

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Speaker 1: consider it. So another benefit of of hosting an airbnb

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Speaker 1: is that it can be really really easy. It can

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Speaker 1: be really convenient, and that's a huge part of the

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Speaker 1: reason you decided to to create your air BnB. It's

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Speaker 1: so convenient, it's so easy to access that when you

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Speaker 1: have to clean it or you have to welcome guests,

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Speaker 1: it's super simple and it doesn't take much time in

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Speaker 1: order to actually make that happen, right Yeah, well, I

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Speaker 1: mean that's definitely specific to hosting an airbnb on your

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Speaker 1: own property, right, Like, so if you have a room,

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Speaker 1: obviously it's a lot easier just to meet somebody at

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Speaker 1: your house. It's like, no, no, no, you come to me.

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Speaker 1: It's not like some sort of business where you have

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Speaker 1: to go somewhere and do something right. And in our case,

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Speaker 1: our apartment. It's it's connected to our house, it's part

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Speaker 1: of our house, but it's not actually in our house.

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Speaker 1: It can be a lot easier if you're meeting folks

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Speaker 1: at your actual home, especially if you work from home,

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Speaker 1: and that's the case for me. And of course you're

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Speaker 1: also doing all the booking and communicating via the app.

426
00:19:06,240 --> 00:19:10,040
Speaker 1: That's also really easy because that infrastructure, man, all that

427
00:19:10,119 --> 00:19:13,720
Speaker 1: already exists. You know, everyone's looking for ways to make

428
00:19:13,760 --> 00:19:16,879
Speaker 1: money via apps. Well, like Airbnb is gonna be one

429
00:19:16,880 --> 00:19:18,480
Speaker 1: of the best ways you can do that if you

430
00:19:18,560 --> 00:19:20,960
Speaker 1: have the space. Man, let's talk about other benefits like

431
00:19:20,960 --> 00:19:23,919
Speaker 1: flexibility that that hosting an airbnb can provide. You know,

432
00:19:23,960 --> 00:19:26,680
Speaker 1: we talked about the income diversification, which kind of adds

433
00:19:26,720 --> 00:19:29,919
Speaker 1: to your flexibility, right, having income from a different source.

434
00:19:30,240 --> 00:19:32,080
Speaker 1: But from hearing you talk, you've talked about how the

435
00:19:32,119 --> 00:19:34,479
Speaker 1: flexibility was part of the reason you chose to run

436
00:19:34,560 --> 00:19:37,280
Speaker 1: out your apartment on Airbnb as opposed to to running

437
00:19:37,280 --> 00:19:38,960
Speaker 1: it out full time. Part of it was the money,

438
00:19:39,080 --> 00:19:41,600
Speaker 1: something we just talked about. But what about the flexibility factor,

439
00:19:41,680 --> 00:19:43,679
Speaker 1: How did that way into your decision? Yeah, well, we

440
00:19:43,720 --> 00:19:46,840
Speaker 1: have flexibility of how much we want to actually do it. Right,

441
00:19:47,040 --> 00:19:49,119
Speaker 1: or specifically Kate, because she's actually the one that's kind

442
00:19:49,119 --> 00:19:51,440
Speaker 1: of doing a lot of the legwork on this. It's

443
00:19:51,480 --> 00:19:55,000
Speaker 1: really easy to host more often or less often, depending

444
00:19:55,080 --> 00:19:58,000
Speaker 1: on what we have going on in our life and

445
00:19:58,040 --> 00:20:00,600
Speaker 1: what our life allows. If we get tired of it,

446
00:20:00,760 --> 00:20:02,840
Speaker 1: you know, say we want to quit, it's completely up

447
00:20:02,880 --> 00:20:06,080
Speaker 1: to us. And so that's a definite perk. That's a

448
00:20:06,119 --> 00:20:09,199
Speaker 1: sweet piece of flexibility that airbb offers. And here's the

449
00:20:09,200 --> 00:20:10,639
Speaker 1: other thing, man, is that we found that a lot

450
00:20:10,720 --> 00:20:13,439
Speaker 1: of folks tend to book more last minute than we thought.

451
00:20:13,520 --> 00:20:15,160
Speaker 1: So it's not difficult for us to look a couple

452
00:20:15,200 --> 00:20:17,680
Speaker 1: of months ahead of time and just block awesome dates

453
00:20:17,720 --> 00:20:20,440
Speaker 1: because like those dates aren't booked, and it's not necessarily

454
00:20:20,440 --> 00:20:22,359
Speaker 1: because we don't have reviews yet. We're well into our

455
00:20:22,359 --> 00:20:24,560
Speaker 1: fourth month now of hosting. We've got a good number

456
00:20:24,600 --> 00:20:27,600
Speaker 1: of reviews, but these days I'm surprised at how many

457
00:20:27,640 --> 00:20:30,080
Speaker 1: folks are booking for two days from now. But what

458
00:20:30,119 --> 00:20:31,560
Speaker 1: that means, though, is that we don't have to lock

459
00:20:31,560 --> 00:20:34,120
Speaker 1: down our schedule months and months in advance, and so

460
00:20:34,280 --> 00:20:36,479
Speaker 1: that kind of flexibility is something that we like. So

461
00:20:36,520 --> 00:20:40,119
Speaker 1: one of my favorite benefits of of airbnb there's a

462
00:20:40,119 --> 00:20:42,560
Speaker 1: fun factor that goes along with it. And yeah, it

463
00:20:42,640 --> 00:20:45,240
Speaker 1: was exactly what my friend Greg described when I asked

464
00:20:45,320 --> 00:20:47,199
Speaker 1: him about it. And it's something that you've mentioned, and

465
00:20:47,240 --> 00:20:49,560
Speaker 1: it's something that I've felt when I've stayed at airbnb.

466
00:20:49,680 --> 00:20:52,159
Speaker 1: So I've never hosted, but I've had so much fun

467
00:20:52,440 --> 00:20:55,440
Speaker 1: getting to know locals in a particular place. Typically you

468
00:20:55,480 --> 00:20:57,119
Speaker 1: get to meet the person that owns the property and

469
00:20:57,160 --> 00:20:59,920
Speaker 1: is running it out and you shake their hand. They

470
00:21:00,040 --> 00:21:01,440
Speaker 1: might even have a cup of coffee with you or

471
00:21:01,440 --> 00:21:03,800
Speaker 1: a beer or something like that, and I love that

472
00:21:03,920 --> 00:21:08,040
Speaker 1: kind of informal humanity that comes along with booking an airbnb.

473
00:21:08,520 --> 00:21:11,920
Speaker 1: So I think that's one other benefit is is the

474
00:21:12,040 --> 00:21:14,480
Speaker 1: amount of fun you can have by doing it. Yeah,

475
00:21:14,600 --> 00:21:17,400
Speaker 1: I mean, just like Greg mentioned, right, it's really really

476
00:21:17,440 --> 00:21:19,880
Speaker 1: cool getting to meet others and hearing why they're in town,

477
00:21:20,000 --> 00:21:22,359
Speaker 1: like what it is that they're in town for, Like

478
00:21:22,400 --> 00:21:24,600
Speaker 1: we really love our neighborhood, so being able to share

479
00:21:24,600 --> 00:21:27,240
Speaker 1: it with them, it's just I found it's really gratifying,

480
00:21:27,280 --> 00:21:29,600
Speaker 1: Like this is a part of hosting that was a

481
00:21:29,680 --> 00:21:32,120
Speaker 1: pleasant surprise for me, you know, in the sense Airbnb

482
00:21:32,200 --> 00:21:35,800
Speaker 1: definitely feels more like the hospitality industry as opposed to

483
00:21:35,800 --> 00:21:38,800
Speaker 1: real estate, Like you have a traditional rental and like

484
00:21:38,800 --> 00:21:40,640
Speaker 1: that's real estate, Like you're in the real estate game.

485
00:21:40,760 --> 00:21:43,159
Speaker 1: But when you have an airbnb, you're making recommendations, you're

486
00:21:43,160 --> 00:21:45,159
Speaker 1: telling them where to go, you're talking to them. I

487
00:21:45,200 --> 00:21:48,600
Speaker 1: had a couple that came back from Scotland and dude,

488
00:21:48,600 --> 00:21:51,080
Speaker 1: they cracked open a bottle of this liqueur and before

489
00:21:51,119 --> 00:21:52,520
Speaker 1: they left there like, here, you need to drink some

490
00:21:52,600 --> 00:21:54,280
Speaker 1: of this. Like like, I'm not even kidding. It was

491
00:21:54,320 --> 00:21:56,639
Speaker 1: eleven o'clock because that's when our checkout time is. It's

492
00:21:56,680 --> 00:21:59,240
Speaker 1: eleven o'clock in the morning. But here we are standing

493
00:21:59,240 --> 00:22:02,119
Speaker 1: out on the curb sampling this, uh, the Scottish Scotch

494
00:22:02,240 --> 00:22:04,639
Speaker 1: liqueur out on the street, and like I didn't know

495
00:22:04,680 --> 00:22:06,119
Speaker 1: these people, and he was just like, here, you need

496
00:22:06,160 --> 00:22:07,560
Speaker 1: to try some of this, and he just like passed

497
00:22:07,560 --> 00:22:09,359
Speaker 1: the bottle over to me, and I thought that was

498
00:22:09,359 --> 00:22:12,439
Speaker 1: super cool because I'm into that. So you basically become

499
00:22:12,760 --> 00:22:16,919
Speaker 1: a concierge slash landlord slash party going friend exactly. It's

500
00:22:16,960 --> 00:22:18,600
Speaker 1: like you guys would go out to light no, just

501
00:22:18,640 --> 00:22:21,399
Speaker 1: the two of you. Oh, I get it. You're always

502
00:22:21,400 --> 00:22:23,440
Speaker 1: trying to inbout yourself along now, but for real, that's

503
00:22:23,480 --> 00:22:25,600
Speaker 1: definitely a part of it that you know, it really

504
00:22:25,640 --> 00:22:28,640
Speaker 1: has surprised me. And it is also fun being a

505
00:22:28,680 --> 00:22:31,560
Speaker 1: part of like the Airbnb community, just like you've had

506
00:22:31,600 --> 00:22:33,840
Speaker 1: some awesome stays and some different spots that you've visited,

507
00:22:34,320 --> 00:22:35,760
Speaker 1: Like same thing with me and Kate, Like we've had

508
00:22:35,760 --> 00:22:39,440
Speaker 1: some really great experiences as guests ourselves, and so those

509
00:22:39,520 --> 00:22:42,120
Speaker 1: experiences like they just had a positive impact on us

510
00:22:42,160 --> 00:22:44,639
Speaker 1: wanting to do a great job hosting for other people

511
00:22:44,640 --> 00:22:47,200
Speaker 1: who are going to come and see where we live.

512
00:22:47,359 --> 00:22:49,600
Speaker 1: You know, it's sort of like this communal aspect where

513
00:22:49,920 --> 00:22:51,720
Speaker 1: we're all kind of taking care of each other. And

514
00:22:51,720 --> 00:22:53,359
Speaker 1: I feel like this is totally sort of something that

515
00:22:53,400 --> 00:22:55,760
Speaker 1: Airbnb has like on their mission statement, like up on

516
00:22:55,800 --> 00:22:59,520
Speaker 1: some like whiteboards somewhere, like this global community that comes together.

517
00:22:59,640 --> 00:23:01,200
Speaker 1: But you know, when you stay at a few great

518
00:23:01,240 --> 00:23:03,960
Speaker 1: spots on Airbnb and then you get to start meaning

519
00:23:04,000 --> 00:23:05,760
Speaker 1: some really cool folks are in the States and they're

520
00:23:05,760 --> 00:23:08,639
Speaker 1: excited to travel around the country and see the city

521
00:23:08,640 --> 00:23:10,800
Speaker 1: in the neighborhood that you really love. It really does

522
00:23:10,920 --> 00:23:13,680
Speaker 1: make you feel good about humanity, that is true. But

523
00:23:13,760 --> 00:23:16,560
Speaker 1: it's not all fun and games. It's not all gravy

524
00:23:16,680 --> 00:23:19,159
Speaker 1: hosting on Airbnb. So let's talk about some of the

525
00:23:19,240 --> 00:23:22,800
Speaker 1: drawbacks to matt. The first one that most people will

526
00:23:22,880 --> 00:23:26,439
Speaker 1: instantly assume is a drawback, and it's true, is that

527
00:23:26,560 --> 00:23:29,440
Speaker 1: it can affect your privacy level. And in particular, if

528
00:23:29,440 --> 00:23:31,800
Speaker 1: you're running out a room in your house, that's gonna

529
00:23:32,280 --> 00:23:35,159
Speaker 1: affect your level of privacy because there's gonna be people

530
00:23:35,200 --> 00:23:39,640
Speaker 1: invading your comment spaces, in particular your bathrooms oftentimes. So

531
00:23:39,840 --> 00:23:41,879
Speaker 1: so yeah, whether the guests are in your home or

532
00:23:41,960 --> 00:23:45,280
Speaker 1: in an attached apartment or even just a separate carriage house,

533
00:23:45,640 --> 00:23:48,640
Speaker 1: it's not necessarily for everyone, especially for those who value

534
00:23:48,640 --> 00:23:50,919
Speaker 1: a lot of privacy in their lives. Yeah, some folks,

535
00:23:51,000 --> 00:23:53,280
Speaker 1: you know, they really want to have their space to themselves.

536
00:23:53,320 --> 00:23:55,400
Speaker 1: They want things to be a particular way. And again,

537
00:23:55,440 --> 00:23:57,439
Speaker 1: in our case, we have an apartment that's separate from

538
00:23:57,440 --> 00:23:59,320
Speaker 1: our house, but it's still connected. And so what that

539
00:23:59,400 --> 00:24:01,600
Speaker 1: means is that even though they are not physically in

540
00:24:01,600 --> 00:24:04,800
Speaker 1: our space, we can still hear them maybe a little bit, right,

541
00:24:05,000 --> 00:24:08,119
Speaker 1: like we soundproofed, so noise it's really less of an issue,

542
00:24:08,200 --> 00:24:09,679
Speaker 1: but it still has an effect on the way we

543
00:24:09,720 --> 00:24:11,720
Speaker 1: live a little bit. Like we know that they're down there,

544
00:24:11,720 --> 00:24:13,320
Speaker 1: and so we try to be a little more careful

545
00:24:13,640 --> 00:24:15,360
Speaker 1: like early in the morning when the girls are waking up,

546
00:24:15,400 --> 00:24:17,440
Speaker 1: like no jumping up and down directly over where like

547
00:24:17,480 --> 00:24:19,600
Speaker 1: where their bed is, like that, walking on stills across

548
00:24:19,600 --> 00:24:23,600
Speaker 1: the stopping exactly, get off the trampoline like that kind

549
00:24:23,600 --> 00:24:26,200
Speaker 1: of thing. And so that's definitely something to consider. Like

550
00:24:26,240 --> 00:24:28,840
Speaker 1: I would call that definitely a drawback. There's not like

551
00:24:28,920 --> 00:24:31,199
Speaker 1: necessarily a privacy issue there, but it's a matter of,

552
00:24:31,240 --> 00:24:33,320
Speaker 1: like I don't know, there's a balance between wanting to

553
00:24:33,359 --> 00:24:35,240
Speaker 1: make sure you're kind of taking care of these folks

554
00:24:35,280 --> 00:24:37,320
Speaker 1: so that they have decent amenities, while at the same

555
00:24:37,320 --> 00:24:38,879
Speaker 1: time you want to make sure that you can just

556
00:24:39,000 --> 00:24:40,399
Speaker 1: live the life that you want to live and not

557
00:24:40,520 --> 00:24:42,359
Speaker 1: have to you know, tiptoe around your house, which is

558
00:24:42,400 --> 00:24:44,600
Speaker 1: you know what we're not doing. Oh, which, by the way,

559
00:24:44,640 --> 00:24:45,879
Speaker 1: I'll mention you want to make sure you have a

560
00:24:45,960 --> 00:24:48,720
Speaker 1: nice sound machine because that's something that we recommend them

561
00:24:48,880 --> 00:24:52,080
Speaker 1: turn on because sometimes they might hear us up here,

562
00:24:52,080 --> 00:24:54,439
Speaker 1: and you know, that's something that they're aware of. And

563
00:24:54,480 --> 00:24:57,000
Speaker 1: all these different privacy aspects are things that you do

564
00:24:57,000 --> 00:24:59,880
Speaker 1: want to consider before you host your airbnb. Yeah, airbnb

565
00:25:00,240 --> 00:25:03,719
Speaker 1: are less sterile than a hotel room, right, And and

566
00:25:03,720 --> 00:25:05,520
Speaker 1: that's part of the draw that's part of the attraction

567
00:25:06,160 --> 00:25:10,000
Speaker 1: is the ability to book a place that's very individual,

568
00:25:10,040 --> 00:25:13,480
Speaker 1: that's that's very singular. Hotel rooms all look the same,

569
00:25:13,840 --> 00:25:16,840
Speaker 1: and Airbnb apartments or homes can look completely different and

570
00:25:16,800 --> 00:25:19,280
Speaker 1: they can have completely different amenities. So that's part of

571
00:25:19,359 --> 00:25:22,399
Speaker 1: the draw but also can be part of the oddity

572
00:25:22,440 --> 00:25:25,880
Speaker 1: also of staying at an airbnb, right. And another potential

573
00:25:25,960 --> 00:25:29,840
Speaker 1: drawback is getting less than ideal guests. Not everyone follows

574
00:25:29,880 --> 00:25:32,199
Speaker 1: your house rules to a t. So yeah, just know

575
00:25:32,280 --> 00:25:34,520
Speaker 1: that you're not gonna hit it off with everybody. You're

576
00:25:34,520 --> 00:25:37,479
Speaker 1: not gonna be drinking liqueur on the front porch at

577
00:25:37,480 --> 00:25:40,200
Speaker 1: eleven am with all of your house guests. But you're

578
00:25:40,200 --> 00:25:43,440
Speaker 1: gonna make some cool friendships and other times you're gonna

579
00:25:43,440 --> 00:25:45,960
Speaker 1: meet people that you just don't necessarily connect with. It

580
00:25:45,960 --> 00:25:47,520
Speaker 1: makes me think of some other friends of ours. They

581
00:25:47,560 --> 00:25:50,040
Speaker 1: have a basement apartment, but it's actually connected to their

582
00:25:50,080 --> 00:25:52,959
Speaker 1: house and so there's a lot more let's say shared

583
00:25:53,000 --> 00:25:56,879
Speaker 1: air interaction maybe exactly well, yeah, and literal air. And

584
00:25:56,920 --> 00:25:59,800
Speaker 1: I say that because their guests smoked down there at

585
00:25:59,800 --> 00:26:02,320
Speaker 1: some point while they were staying at their place, and

586
00:26:02,359 --> 00:26:05,679
Speaker 1: so for them that was obviously a huge drawback. That

587
00:26:05,760 --> 00:26:07,280
Speaker 1: was something that they didn't want to have to deal with,

588
00:26:07,320 --> 00:26:09,440
Speaker 1: but they you know, they did. And so keep in mind,

589
00:26:09,480 --> 00:26:11,399
Speaker 1: you know, not every single guest is going to be

590
00:26:11,480 --> 00:26:14,520
Speaker 1: maybe as quiet as respectful of your space as you

591
00:26:14,600 --> 00:26:18,160
Speaker 1: might hope. Man. So let's talk about time. Another downside,

592
00:26:18,200 --> 00:26:21,320
Speaker 1: another drawback to hosting an airbnb is, like we said

593
00:26:21,320 --> 00:26:24,359
Speaker 1: at the beginning, it's not a truly passive venture. We

594
00:26:24,480 --> 00:26:27,000
Speaker 1: flip and clean the space ourselves, so it does take

595
00:26:27,080 --> 00:26:30,480
Speaker 1: some time for us to actually have the airbnb run.

596
00:26:30,920 --> 00:26:33,800
Speaker 1: I really appreciate that that that you commit fully and

597
00:26:33,840 --> 00:26:35,440
Speaker 1: you wear the mate outfit when you do it. Though.

598
00:26:36,040 --> 00:26:37,800
Speaker 1: I'm all about dressing for the part, you know, just

599
00:26:37,800 --> 00:26:39,520
Speaker 1: just like when I cut the grass, like I wear

600
00:26:39,640 --> 00:26:41,399
Speaker 1: the cut off Jeane shorts. I want to make sure

601
00:26:41,400 --> 00:26:43,600
Speaker 1: I'm looking the part. You know what I'm saying. I understand,

602
00:26:43,640 --> 00:26:45,000
Speaker 1: I get it. But here's the thing is that you

603
00:26:45,040 --> 00:26:48,159
Speaker 1: could automate it more by having a cleaning service. You

604
00:26:48,200 --> 00:26:50,760
Speaker 1: can have co hosts who you know, showed the space

605
00:26:50,840 --> 00:26:53,680
Speaker 1: to folks who actually interact with your guests via the app.

606
00:26:54,119 --> 00:26:56,720
Speaker 1: Both of those you can hire out, but then again

607
00:26:56,760 --> 00:26:58,520
Speaker 1: that is going to eat in your profits, so make

608
00:26:58,560 --> 00:27:00,960
Speaker 1: sure that you consider that. But most folks who manage

609
00:27:01,000 --> 00:27:03,760
Speaker 1: their airbnbs themselves, it's gonna be more of a just

610
00:27:03,880 --> 00:27:06,560
Speaker 1: a really flexible and a really convenient part time job,

611
00:27:07,000 --> 00:27:10,040
Speaker 1: not something that's truly passive income. Yeah, Matt, and I

612
00:27:10,080 --> 00:27:14,240
Speaker 1: know that that. Another drawback, especially community wide drawback, that

613
00:27:14,240 --> 00:27:17,040
Speaker 1: that people have pointed out, is the fact that the

614
00:27:17,119 --> 00:27:20,359
Speaker 1: density of airbnbs, more and more people running out properties

615
00:27:20,480 --> 00:27:23,280
Speaker 1: or or listening their place on airbnb, has led to

616
00:27:23,560 --> 00:27:26,240
Speaker 1: kind of more transient folks coming through. And unless the

617
00:27:26,280 --> 00:27:29,240
Speaker 1: folks that live in those places are not part of

618
00:27:29,280 --> 00:27:31,920
Speaker 1: the fabric of the community, they're not people that are

619
00:27:31,920 --> 00:27:34,840
Speaker 1: sticking around and getting jobs and contributing to the local

620
00:27:34,880 --> 00:27:38,480
Speaker 1: economy in the same way. And although tourism does contribute

621
00:27:38,520 --> 00:27:41,320
Speaker 1: to a local economy, there could be something unnerving or

622
00:27:41,400 --> 00:27:45,240
Speaker 1: unsettling about a lot of airbnbs being in a close proximity.

623
00:27:45,320 --> 00:27:48,520
Speaker 1: So you know, what's your experience there with welcoming tourists

624
00:27:48,520 --> 00:27:51,480
Speaker 1: into your home and do you feel like that contributes to, yeah,

625
00:27:51,480 --> 00:27:54,480
Speaker 1: a lack of community engagement as opposed to someone who

626
00:27:54,800 --> 00:27:56,919
Speaker 1: is an actual part of the community living beneath you.

627
00:27:57,119 --> 00:27:59,240
Speaker 1: I kind of consider this as like a potential downside

628
00:27:59,280 --> 00:28:01,680
Speaker 1: because like for us, man, it's not something that we

629
00:28:01,880 --> 00:28:05,199
Speaker 1: feel super strongly about because as it's not nearly as

630
00:28:05,240 --> 00:28:07,200
Speaker 1: much of a problem in our neighborhood as it is

631
00:28:07,280 --> 00:28:09,280
Speaker 1: in lots of other places, like like versus Paris or

632
00:28:09,320 --> 00:28:11,679
Speaker 1: something like that, whether you're trying to maintain the integrity

633
00:28:11,680 --> 00:28:14,200
Speaker 1: of the history of the city that sort of thing.

634
00:28:14,240 --> 00:28:16,000
Speaker 1: But I mean for Atlanta, like people are in town,

635
00:28:16,040 --> 00:28:17,359
Speaker 1: like a lot of our guests are in town to

636
00:28:17,400 --> 00:28:20,359
Speaker 1: see a concert or to go to a conference. But regardless,

637
00:28:20,400 --> 00:28:23,439
Speaker 1: it's temporary. It's not a long term tenant who is

638
00:28:23,480 --> 00:28:26,199
Speaker 1: living and working here, like you said, someone who's like

639
00:28:26,240 --> 00:28:29,159
Speaker 1: actually part of our community. For us, it's not a

640
00:28:29,240 --> 00:28:31,919
Speaker 1: huge drawback at the moment, but it's definitely something you know,

641
00:28:31,960 --> 00:28:34,320
Speaker 1: we do think about, and for us, it's kind of

642
00:28:34,320 --> 00:28:36,840
Speaker 1: a wash. I'd be happy to have somebody that's living

643
00:28:36,840 --> 00:28:39,080
Speaker 1: down there more long term, but I'm also happy just

644
00:28:39,120 --> 00:28:41,480
Speaker 1: to have a spot for folks to come visit Atlanta

645
00:28:41,760 --> 00:28:44,040
Speaker 1: and have a great place to stay. Yeah, man, Airbnbs

646
00:28:44,080 --> 00:28:46,600
Speaker 1: can be great for that, but we gotta get into

647
00:28:46,920 --> 00:28:50,000
Speaker 1: how to figure out whether hosting an Airbnb is a

648
00:28:50,000 --> 00:28:52,080
Speaker 1: good fit for you. We're going to get into some

649
00:28:52,160 --> 00:28:54,440
Speaker 1: of those things, and then if it is advice for

650
00:28:54,480 --> 00:28:56,880
Speaker 1: getting an airbnb off the ground, we'll get to that

651
00:28:56,960 --> 00:29:08,560
Speaker 1: right after the break. All right, man, we are back.

652
00:29:08,600 --> 00:29:11,360
Speaker 1: You know, we've talked about the overwhelming prose the benefits

653
00:29:11,400 --> 00:29:13,960
Speaker 1: of hosting Airbnb. Let's throw some caution out there a

654
00:29:14,000 --> 00:29:16,719
Speaker 1: little bit right when you are trying to decide if

655
00:29:16,760 --> 00:29:18,640
Speaker 1: hosting is a good fit for you. There's a few

656
00:29:18,640 --> 00:29:21,280
Speaker 1: things we would recommend you consider. I mean, and first

657
00:29:21,280 --> 00:29:23,480
Speaker 1: of all, this kind of goes back to the money, right,

658
00:29:23,600 --> 00:29:25,600
Speaker 1: but run the numbers, like you need to know the

659
00:29:25,640 --> 00:29:29,920
Speaker 1: premium that you'll make if you rent via Airbnb as

660
00:29:29,920 --> 00:29:32,440
Speaker 1: opposed to maybe having a traditional lease, if it's a

661
00:29:32,480 --> 00:29:34,480
Speaker 1: space that you can rent out full time, or if

662
00:29:34,480 --> 00:29:36,400
Speaker 1: it's just something that you're going to consider doing even

663
00:29:36,480 --> 00:29:38,920
Speaker 1: at all, So make sure you're factoring in that time

664
00:29:38,960 --> 00:29:42,040
Speaker 1: difference to figure out your actual hourly rate. That's a

665
00:29:42,080 --> 00:29:44,200
Speaker 1: real consideration, because you don't want to do it if

666
00:29:44,240 --> 00:29:47,760
Speaker 1: it isn't worth it. You don't want to underpay yourself. Yeah, man,

667
00:29:47,800 --> 00:29:50,360
Speaker 1: I completely agree. You want to be realistic going into it,

668
00:29:50,360 --> 00:29:53,280
Speaker 1: because if you're unrealistic, you might end up doing yourself

669
00:29:53,320 --> 00:29:56,760
Speaker 1: a disservice and undervaluing your time. It's also important to

670
00:29:56,800 --> 00:30:00,480
Speaker 1: know the potential risks right. Airbnb has a great protection

671
00:30:00,520 --> 00:30:04,360
Speaker 1: insurance policy if you have guests who do wreck your place,

672
00:30:04,480 --> 00:30:07,120
Speaker 1: who do let's say, smoke in it or or create

673
00:30:07,160 --> 00:30:10,040
Speaker 1: some havoc. That doesn't mean that it isn't a headache

674
00:30:10,080 --> 00:30:12,640
Speaker 1: though if something like that occurs. One of the biggest

675
00:30:12,720 --> 00:30:15,240
Speaker 1: risk factors that we have to mention though, is the

676
00:30:15,360 --> 00:30:17,840
Speaker 1: risk that your local government might create a new law

677
00:30:17,880 --> 00:30:20,280
Speaker 1: that makes it harder or even illegal to run an

678
00:30:20,280 --> 00:30:23,400
Speaker 1: Airbnb out of your house. And this is especially important

679
00:30:23,560 --> 00:30:25,720
Speaker 1: if you are creating a space and spending a lot

680
00:30:25,720 --> 00:30:28,920
Speaker 1: of money to create that space where it is specifically

681
00:30:29,000 --> 00:30:32,080
Speaker 1: meant and purposed to be an airbnb. While that can

682
00:30:32,120 --> 00:30:34,320
Speaker 1: be a great idea, you need to have some flexibility

683
00:30:34,360 --> 00:30:37,080
Speaker 1: or have a backup plan in place if something like

684
00:30:37,080 --> 00:30:39,640
Speaker 1: that does occur. Because this has been happening in certain

685
00:30:39,680 --> 00:30:42,920
Speaker 1: cities and towns across the country that have been inundated

686
00:30:42,920 --> 00:30:44,880
Speaker 1: with air b n b s, and some governments have

687
00:30:44,960 --> 00:30:48,000
Speaker 1: been cracking down in order to curb the amount of

688
00:30:48,040 --> 00:30:50,640
Speaker 1: airbnbs that are allowed or a minimum at least bring

689
00:30:50,680 --> 00:30:54,080
Speaker 1: them into the fold and making airbnbs pay certain taxes

690
00:30:54,080 --> 00:30:57,520
Speaker 1: like hotel taxes, whereas before they didn't have to do that.

691
00:30:57,680 --> 00:30:59,680
Speaker 1: So it's important just to know those risks ahead of

692
00:30:59,720 --> 00:31:02,640
Speaker 1: time and not put all your eggs in one basket. Yeah,

693
00:31:02,680 --> 00:31:04,720
Speaker 1: it's good to consider and have sort of a plan

694
00:31:04,880 --> 00:31:07,920
Speaker 1: b right, and not just because of local laws. Right,

695
00:31:07,960 --> 00:31:10,959
Speaker 1: it might become illegal, but you also may not necessarily

696
00:31:11,080 --> 00:31:13,720
Speaker 1: enjoy the hosting aspect of the airbnb. Maybe you would

697
00:31:13,720 --> 00:31:16,480
Speaker 1: be totally fine with somebody being down there a long term,

698
00:31:16,520 --> 00:31:19,320
Speaker 1: but maybe like the tourism aspect of it or the turnover, like,

699
00:31:19,320 --> 00:31:21,760
Speaker 1: you're not into that. And so if you are looking

700
00:31:21,800 --> 00:31:23,800
Speaker 1: at finishing on a space, make sure that you consider

701
00:31:23,880 --> 00:31:25,960
Speaker 1: some things that would allow it to become a full

702
00:31:26,000 --> 00:31:28,400
Speaker 1: time rental. That's something that we did, man Like, we

703
00:31:28,440 --> 00:31:31,760
Speaker 1: actually had this closet that we currently have as a desk,

704
00:31:32,200 --> 00:31:34,880
Speaker 1: but guess what, there is plumbing behind there to put

705
00:31:34,920 --> 00:31:37,000
Speaker 1: the washer and dryer. Because that's something that we consider.

706
00:31:37,040 --> 00:31:38,840
Speaker 1: We thought, you know what, if this doesn't work out,

707
00:31:39,160 --> 00:31:41,040
Speaker 1: we really want this unit to have a washer and dryer.

708
00:31:41,080 --> 00:31:42,960
Speaker 1: That way a long term tenant could be able to

709
00:31:43,000 --> 00:31:45,040
Speaker 1: do their laundry because folks don't like going to the

710
00:31:45,080 --> 00:31:47,440
Speaker 1: laundroy mat. Yeah, it's true, and that's a really good

711
00:31:47,480 --> 00:31:51,200
Speaker 1: idea and part of being flexible, I think, to just

712
00:31:51,280 --> 00:31:53,480
Speaker 1: in case demand is softer than you thought it would

713
00:31:53,520 --> 00:31:55,440
Speaker 1: be for your airbnb. It's it's nice to have that

714
00:31:55,720 --> 00:31:57,880
Speaker 1: ability to be able to rent it out to someone

715
00:31:57,880 --> 00:32:01,440
Speaker 1: full time if the income just didn't meet your expectations. Yeah,

716
00:32:01,440 --> 00:32:03,880
Speaker 1: and one other thing to consider when you're thinking about

717
00:32:03,880 --> 00:32:07,200
Speaker 1: hosting is to realize that it doesn't necessarily have to

718
00:32:07,280 --> 00:32:10,200
Speaker 1: be you. That is, they're doing all the work. Like

719
00:32:10,240 --> 00:32:12,000
Speaker 1: you don't have to be really extroverted. You don't have

720
00:32:12,040 --> 00:32:13,960
Speaker 1: to be like one of those super hosty, you know,

721
00:32:14,000 --> 00:32:17,240
Speaker 1: friendly types. A lot of hosting an airbnb can be

722
00:32:17,280 --> 00:32:20,440
Speaker 1: pretty much automated with very little interaction if that's not

723
00:32:20,480 --> 00:32:22,200
Speaker 1: your thing. But again, you just want to make sure

724
00:32:22,240 --> 00:32:24,719
Speaker 1: that you're factoring that in when you're crunching the numbers.

725
00:32:24,960 --> 00:32:27,360
Speaker 1: You can hire a professional management company to act as

726
00:32:27,360 --> 00:32:29,880
Speaker 1: a co host alongside you so that you don't have

727
00:32:29,920 --> 00:32:32,360
Speaker 1: to be their day in and day outs. There is

728
00:32:32,400 --> 00:32:35,960
Speaker 1: an entire industry basically kind of sprouting up around Airbnb

729
00:32:36,120 --> 00:32:38,960
Speaker 1: to provide the different services that hosts are looking for

730
00:32:39,160 --> 00:32:44,880
Speaker 1: because they don't necessarily enjoy all aspects of hosting an airbnb. Alright, Matt,

731
00:32:44,920 --> 00:32:47,280
Speaker 1: Let's say someone's listening to the show. They've heard the benefits,

732
00:32:47,280 --> 00:32:50,840
Speaker 1: they've heard of the drawbacks. They've determined that the scales

733
00:32:50,920 --> 00:32:53,200
Speaker 1: weigh a little bit more in favor of of starting

734
00:32:53,200 --> 00:32:56,000
Speaker 1: to host an airbnb, at least trying it out. Well, Like,

735
00:32:56,040 --> 00:32:59,880
Speaker 1: what's your advice for someone getting started to actually get

736
00:33:00,080 --> 00:33:02,520
Speaker 1: airbnb running? Like, what are the first steps in order

737
00:33:02,520 --> 00:33:05,720
Speaker 1: for them to actually make it happen? Yes, Well, generally speaking,

738
00:33:05,800 --> 00:33:07,400
Speaker 1: the thing is, you want to make sure that you

739
00:33:07,760 --> 00:33:10,520
Speaker 1: are treating it like a business. The casual, easy going

740
00:33:10,560 --> 00:33:14,440
Speaker 1: aspect of airbnb, Like that's really appealing to most folks, right,

741
00:33:14,680 --> 00:33:15,920
Speaker 1: But the thing is, if you want to have a

742
00:33:16,000 --> 00:33:18,480
Speaker 1: successful Airbnb, you need to make sure that you're taking

743
00:33:18,480 --> 00:33:21,040
Speaker 1: it seriously. You want to be smart about it. And

744
00:33:21,120 --> 00:33:23,280
Speaker 1: so the first thing you want to get your airbnb

745
00:33:23,400 --> 00:33:24,840
Speaker 1: off the ground, you want to get it going right,

746
00:33:25,240 --> 00:33:28,600
Speaker 1: consider listing it at a price that's maybe more affordable

747
00:33:28,840 --> 00:33:31,160
Speaker 1: than where you want it to be in the long term.

748
00:33:31,240 --> 00:33:32,920
Speaker 1: And the reason for this is because you want to

749
00:33:33,000 --> 00:33:35,200
Speaker 1: jump start the number of reviews that you have on

750
00:33:35,280 --> 00:33:37,720
Speaker 1: your listing. Those reviews are so important when it comes

751
00:33:37,760 --> 00:33:40,440
Speaker 1: to folks wanting to actually book your space. I know

752
00:33:40,520 --> 00:33:43,440
Speaker 1: from personal experience when Kate and I were traveling, especially

753
00:33:43,440 --> 00:33:47,000
Speaker 1: abroad man, we felt way more comfortable about a listening

754
00:33:47,080 --> 00:33:49,360
Speaker 1: when they had at least a dozen reviews or so.

755
00:33:49,600 --> 00:33:51,680
Speaker 1: You know, you see listening and it's got like two reviews,

756
00:33:52,000 --> 00:33:54,520
Speaker 1: I'm not going to stay there unless there's maybe a

757
00:33:54,560 --> 00:33:57,720
Speaker 1: really really good deal, right or they're just solid reviews,

758
00:33:57,720 --> 00:33:59,800
Speaker 1: they don't look sketchy at all. But you know, having

759
00:34:00,160 --> 00:34:03,200
Speaker 1: nice collection of reviews, like that's just so important. You

760
00:34:03,240 --> 00:34:05,320
Speaker 1: have the reviews, and not even just the star rating,

761
00:34:05,360 --> 00:34:08,680
Speaker 1: but actually reading the reviews because just like on Amazon,

762
00:34:08,760 --> 00:34:11,200
Speaker 1: right buying something on Amazon, the star rating can be helpful,

763
00:34:11,280 --> 00:34:13,200
Speaker 1: but if you dig down further and read a bunch

764
00:34:13,239 --> 00:34:15,279
Speaker 1: of reviews, you can actually see how people are using

765
00:34:15,280 --> 00:34:17,520
Speaker 1: the product, and you can see which reviews are legitimate

766
00:34:17,520 --> 00:34:20,320
Speaker 1: and which ones are potentially not real people real reviews

767
00:34:20,800 --> 00:34:23,640
Speaker 1: and an Airbnb in a similar way, you can see

768
00:34:23,760 --> 00:34:27,359
Speaker 1: the exact experiences of people. And maybe someone that rates

769
00:34:27,360 --> 00:34:30,279
Speaker 1: something four stars the way that they talked about maybe

770
00:34:30,280 --> 00:34:32,440
Speaker 1: they're optimistic and you would have rated it two or

771
00:34:32,520 --> 00:34:35,160
Speaker 1: three stars, and so it's just helpful to actually read

772
00:34:35,200 --> 00:34:37,520
Speaker 1: the reviews. That makes a lot of sense. Well, since

773
00:34:37,560 --> 00:34:39,839
Speaker 1: we are talking about reviews now, it's a good time

774
00:34:39,880 --> 00:34:42,560
Speaker 1: to mention how Kate and I dude, we only allow

775
00:34:42,719 --> 00:34:45,919
Speaker 1: guests with at least one review. We actually will turn

776
00:34:45,960 --> 00:34:48,239
Speaker 1: down a good number of guests who are new because

777
00:34:48,239 --> 00:34:50,319
Speaker 1: we're not willing to take on that risk. Like, we

778
00:34:50,400 --> 00:34:53,279
Speaker 1: don't want that headache of them trashing the place because

779
00:34:53,320 --> 00:34:55,480
Speaker 1: they don't really have anything to lose, their brand new

780
00:34:55,520 --> 00:34:58,440
Speaker 1: to Airbnb, or maybe they've been on Airbnb before but

781
00:34:58,840 --> 00:35:00,560
Speaker 1: the reviews got too bad. It's it's time to start

782
00:35:00,560 --> 00:35:02,719
Speaker 1: a new account or something. I don't know, I'm being pessimistic,

783
00:35:02,800 --> 00:35:05,120
Speaker 1: but that's just not something that we're willing to take on.

784
00:35:05,400 --> 00:35:06,880
Speaker 1: And that's another way to avoid a lot of headache

785
00:35:06,880 --> 00:35:09,600
Speaker 1: when it comes to hosting and managing a property. Yeah,

786
00:35:09,600 --> 00:35:12,040
Speaker 1: they say beggars can't be choosers, right, and so if

787
00:35:12,080 --> 00:35:15,279
Speaker 1: you're begging for renters and you have to accept people

788
00:35:15,320 --> 00:35:18,120
Speaker 1: that don't have any reviews because you're just not getting

789
00:35:18,200 --> 00:35:20,360
Speaker 1: enough marks up the tree, well you either need to

790
00:35:20,360 --> 00:35:23,920
Speaker 1: consider lowering your rate or you need to do something

791
00:35:23,920 --> 00:35:26,279
Speaker 1: different because more than anything. You do not want to

792
00:35:26,280 --> 00:35:29,040
Speaker 1: accept people into your place that don't have any reviews,

793
00:35:29,080 --> 00:35:31,520
Speaker 1: they don't have any history, because they can end up

794
00:35:31,520 --> 00:35:34,160
Speaker 1: being the worst tenants and more of a headache than

795
00:35:34,239 --> 00:35:36,439
Speaker 1: they're actually worth. So I think that's a really good point.

796
00:35:36,480 --> 00:35:38,359
Speaker 1: I think people want to be very very careful about

797
00:35:38,360 --> 00:35:40,320
Speaker 1: who they're letting book. I mean, this is your place,

798
00:35:40,360 --> 00:35:42,959
Speaker 1: this is your property, so make sure you're only letting

799
00:35:42,960 --> 00:35:45,560
Speaker 1: people stay there that are that are verified, that have

800
00:35:45,800 --> 00:35:49,279
Speaker 1: good reviews backing them up, saying they're a solid person. Now, Yeah,

801
00:35:49,320 --> 00:35:51,319
Speaker 1: I think it's a great point, buddy. Alright. Something else

802
00:35:51,360 --> 00:35:53,920
Speaker 1: to share for folks who are just launching their airbnb

803
00:35:54,719 --> 00:35:57,319
Speaker 1: is to know that it is really helpful to meet

804
00:35:57,400 --> 00:36:00,200
Speaker 1: guests in person, to show them the space and answer

805
00:36:00,280 --> 00:36:02,600
Speaker 1: any questions that they might have. And I know not

806
00:36:02,680 --> 00:36:05,200
Speaker 1: everybody has this kind of flexibility, right, but when you're

807
00:36:05,239 --> 00:36:07,920
Speaker 1: able to meet them in person, make a personal connection

808
00:36:07,920 --> 00:36:09,960
Speaker 1: with them in real life, like we have found that,

809
00:36:10,000 --> 00:36:12,640
Speaker 1: they will treat the space so much better, they'll follow

810
00:36:12,640 --> 00:36:14,759
Speaker 1: the house rules, they'll do a better job cleaning up

811
00:36:14,760 --> 00:36:17,719
Speaker 1: after themselves again, which makes life so much easier for you,

812
00:36:17,840 --> 00:36:21,120
Speaker 1: saving you time. Yeah, if you have a flexible schedule.

813
00:36:21,400 --> 00:36:23,279
Speaker 1: It's so much easier to actually do this if you

814
00:36:23,280 --> 00:36:25,239
Speaker 1: have a nine to five job. It's gonna be so

815
00:36:25,280 --> 00:36:28,000
Speaker 1: hard if you have nine Yeah, letting those airbnb guests

816
00:36:28,040 --> 00:36:30,120
Speaker 1: in all automated, it's almost impossible. Yeah, you have to

817
00:36:30,160 --> 00:36:33,040
Speaker 1: come up with an automated process, which is doable, right,

818
00:36:33,320 --> 00:36:35,880
Speaker 1: but if at all possible, the best experience is going

819
00:36:35,920 --> 00:36:38,320
Speaker 1: to come not only just from the fun of getting

820
00:36:38,360 --> 00:36:41,000
Speaker 1: to meet people, but the people that you let into

821
00:36:41,000 --> 00:36:42,799
Speaker 1: your home are going to treat your home better if

822
00:36:42,800 --> 00:36:45,439
Speaker 1: you've met them in person. And my friend David Matt,

823
00:36:45,719 --> 00:36:47,279
Speaker 1: you know, I actually talked to him as I was

824
00:36:47,320 --> 00:36:50,440
Speaker 1: looking into potentially putting an Airbnb in my backyard, and

825
00:36:50,480 --> 00:36:53,560
Speaker 1: my conversation with him made me realize that at the time,

826
00:36:53,640 --> 00:36:56,240
Speaker 1: when Emily and I were both working, it wasn't doable

827
00:36:56,440 --> 00:36:58,640
Speaker 1: to actually meet the guests, and he mentioned how important

828
00:36:58,640 --> 00:37:01,080
Speaker 1: it was. He talked about how all the guests that

829
00:37:01,120 --> 00:37:04,400
Speaker 1: he didn't meet in person almost consistently ended up treating

830
00:37:04,400 --> 00:37:08,840
Speaker 1: the property worse. They were just less conscientious overall of

831
00:37:08,920 --> 00:37:11,799
Speaker 1: his place. But when you associate that place with a

832
00:37:11,800 --> 00:37:14,319
Speaker 1: particular person that you've met, and you have a little

833
00:37:14,320 --> 00:37:17,120
Speaker 1: bit of a rapport with it changes the whole dynamic. Right, Yeah,

834
00:37:17,120 --> 00:37:19,440
Speaker 1: you've talked to each other as human beings, right as

835
00:37:19,480 --> 00:37:23,320
Speaker 1: like fellow humanity. And so quickly we're gonna cover some

836
00:37:23,400 --> 00:37:26,200
Speaker 1: quick tips. Uh, these are some quick and easy things

837
00:37:26,239 --> 00:37:28,560
Speaker 1: that you know, we have found makes a big difference

838
00:37:28,600 --> 00:37:32,920
Speaker 1: when it comes to welcoming folks into your Airbnb. For us, laundry,

839
00:37:33,000 --> 00:37:35,840
Speaker 1: like that's a huge part of the job of hosting

840
00:37:35,840 --> 00:37:37,960
Speaker 1: an Airbnb that you don't really expect, Like, it's a

841
00:37:38,000 --> 00:37:40,120
Speaker 1: good point. I totally thought, I totally forgot. Of course,

842
00:37:40,120 --> 00:37:43,240
Speaker 1: you gotta do more laundry, sheets, towels, like kitchen towels,

843
00:37:43,320 --> 00:37:46,040
Speaker 1: all of that. And so for us, having uniform linens

844
00:37:46,120 --> 00:37:49,920
Speaker 1: and towels has been really helpful in streamlining that process.

845
00:37:49,960 --> 00:37:52,719
Speaker 1: We went everything all whites so that we could bleach

846
00:37:52,760 --> 00:37:54,400
Speaker 1: it every single time. You know, we just do like

847
00:37:54,400 --> 00:37:57,360
Speaker 1: a little light bleach solution and it keeps everything looking fresh.

848
00:37:57,440 --> 00:37:59,520
Speaker 1: By the way, that is one additional thing to consider

849
00:37:59,600 --> 00:38:02,040
Speaker 1: is those upfront costs because if you're starting then airbnb,

850
00:38:02,320 --> 00:38:03,840
Speaker 1: you have to furnish it. You have to have the

851
00:38:03,880 --> 00:38:06,560
Speaker 1: extra linen, se extra towels. That is one more thing

852
00:38:06,680 --> 00:38:09,480
Speaker 1: that you don't have to provide if you're running out

853
00:38:09,480 --> 00:38:12,000
Speaker 1: a property on a long term basis. Yeah, so true

854
00:38:12,040 --> 00:38:14,920
Speaker 1: and thoughtful little touches also go a long way in

855
00:38:14,960 --> 00:38:17,440
Speaker 1: that actual space. I mentioned that sweet sound machine that

856
00:38:17,480 --> 00:38:18,920
Speaker 1: we keep down there just in case. But you know,

857
00:38:18,960 --> 00:38:21,279
Speaker 1: we've got black Hawk curtains. We've got a little welcome board,

858
00:38:21,320 --> 00:38:23,000
Speaker 1: you know, with like the little the little peg board

859
00:38:23,000 --> 00:38:24,799
Speaker 1: there you can like spell out letters and stuff like that.

860
00:38:24,920 --> 00:38:26,960
Speaker 1: We always welcome our guests by name, and so it's

861
00:38:26,960 --> 00:38:28,520
Speaker 1: just a way for them to really feel well. Ain't

862
00:38:28,560 --> 00:38:30,359
Speaker 1: that cute? Yeah, it really is. Key does a great

863
00:38:30,440 --> 00:38:32,320
Speaker 1: job of that. But we've got a sweet and espresso

864
00:38:32,360 --> 00:38:35,960
Speaker 1: coffee maker down there. We have complimentary drinks. Every time

865
00:38:36,000 --> 00:38:38,239
Speaker 1: I go to an airbnb, if there's a sweet coffee machine,

866
00:38:38,239 --> 00:38:40,239
Speaker 1: if there's like an espresso maker or something, I take

867
00:38:40,280 --> 00:38:43,560
Speaker 1: full advantage. And that definitely adds one star to the

868
00:38:43,560 --> 00:38:46,640
Speaker 1: review no matter what. So at minimum, you're starting with

869
00:38:46,719 --> 00:38:48,359
Speaker 1: one star if you have a coffee maker. And here's

870
00:38:48,360 --> 00:38:50,759
Speaker 1: the thing, like good coffee versus like booze. You know,

871
00:38:50,840 --> 00:38:52,560
Speaker 1: you gotta be careful. You're just tempting fate if you

872
00:38:52,600 --> 00:38:54,359
Speaker 1: kind of provide that for folks. So that's one thing

873
00:38:54,400 --> 00:38:56,600
Speaker 1: that we kind of stay away from. And another quick

874
00:38:56,640 --> 00:39:00,680
Speaker 1: consideration is to maybe decorate sparsely, don't or decorate in

875
00:39:00,760 --> 00:39:03,560
Speaker 1: order to make it easier to clean. This is something

876
00:39:03,600 --> 00:39:05,319
Speaker 1: that Kate shared with me because she said, you know what,

877
00:39:05,360 --> 00:39:07,439
Speaker 1: I'm so glad we don't have any more stuff down there,

878
00:39:07,719 --> 00:39:09,719
Speaker 1: because it's just stuff I would have to move and

879
00:39:09,760 --> 00:39:12,000
Speaker 1: clean and kind of dust. And this fits pretty well

880
00:39:12,000 --> 00:39:14,040
Speaker 1: with our sort of aesthetic anyway. We like to have

881
00:39:14,160 --> 00:39:17,080
Speaker 1: things pretty spare. But you also don't want all the

882
00:39:17,120 --> 00:39:19,520
Speaker 1: surfaces to be covered in decorations as well, because you

883
00:39:19,560 --> 00:39:22,399
Speaker 1: want your guests to have space to put their stuff. Yeah,

884
00:39:22,520 --> 00:39:23,799
Speaker 1: be able to put their stuff down and feel at

885
00:39:23,800 --> 00:39:26,799
Speaker 1: home for a second exactly. So man, there you have it, right.

886
00:39:26,840 --> 00:39:28,719
Speaker 1: Like that's the quick and dirty guy to hosting an

887
00:39:28,719 --> 00:39:31,160
Speaker 1: Airbnb by matt O Kate, And I say Kate because

888
00:39:31,320 --> 00:39:33,560
Speaker 1: like literally she does the vast majority of the work.

889
00:39:33,600 --> 00:39:37,239
Speaker 1: She actually is pretty introverted, so she doesn't enjoy like

890
00:39:37,320 --> 00:39:40,040
Speaker 1: meeting folks and talking to them quite as much. I'm like, man,

891
00:39:40,080 --> 00:39:41,560
Speaker 1: I'm happy to let go down there and like talk

892
00:39:41,600 --> 00:39:43,200
Speaker 1: to these folks and kind of figure out where they're

893
00:39:43,200 --> 00:39:45,000
Speaker 1: from and their story that kind of thing. Yeah, Well,

894
00:39:45,040 --> 00:39:47,200
Speaker 1: I'm so glad it's worked out well for you guys.

895
00:39:47,320 --> 00:39:49,440
Speaker 1: And you know, I've heard stories from folks who ran

896
00:39:49,480 --> 00:39:51,919
Speaker 1: out rooms like our friend Gregg. I've heard stories from

897
00:39:51,960 --> 00:39:54,840
Speaker 1: from lots of people who host airbnbs in different forms

898
00:39:54,840 --> 00:39:56,960
Speaker 1: and fashions, and I do think it's one of those

899
00:39:57,000 --> 00:39:59,400
Speaker 1: things that people don't necessarily consider as a way to

900
00:39:59,520 --> 00:40:02,239
Speaker 1: diversive hi their income and as a way to make

901
00:40:02,280 --> 00:40:04,759
Speaker 1: more income. And it's not for everyone, that's for sure.

902
00:40:04,800 --> 00:40:06,480
Speaker 1: I think we definitely covered that in this episode, that

903
00:40:06,640 --> 00:40:08,759
Speaker 1: that hosting an airbnb is not going to work out

904
00:40:08,760 --> 00:40:11,279
Speaker 1: well for every single person. But if you have a

905
00:40:11,280 --> 00:40:14,080
Speaker 1: little extra space, or if you have a bedroom that

906
00:40:14,239 --> 00:40:16,240
Speaker 1: makes sense to rent out, even if it's just during

907
00:40:16,400 --> 00:40:18,680
Speaker 1: major events that happen in your city, right to make

908
00:40:18,920 --> 00:40:21,560
Speaker 1: a tiny bit of extra cash. I think at least

909
00:40:21,560 --> 00:40:25,680
Speaker 1: considering hosting an airbnb is is worthwhile. And for you guys,

910
00:40:25,680 --> 00:40:27,400
Speaker 1: it's been fun at the same time, which is cool.

911
00:40:27,520 --> 00:40:29,560
Speaker 1: And I guarantee you for me, it's gonna happen at

912
00:40:29,600 --> 00:40:31,600
Speaker 1: some point. I just don't know when. Man, it's only

913
00:40:31,600 --> 00:40:33,400
Speaker 1: a matter of time. And here's the thing. I'm not

914
00:40:33,480 --> 00:40:36,759
Speaker 1: like a super extroverter person, and I really really enjoy it.

915
00:40:37,360 --> 00:40:40,640
Speaker 1: You're gonna like completely lose your mind. I thought about that, honestly,

916
00:40:40,640 --> 00:40:42,719
Speaker 1: when you're able to meet all these different folks kind

917
00:40:42,719 --> 00:40:44,319
Speaker 1: of coming in from all over the world. I thought

918
00:40:44,320 --> 00:40:46,640
Speaker 1: about that when you were talking about meeting these folks,

919
00:40:46,680 --> 00:40:47,759
Speaker 1: and I'm like, I'm gonna want to have a two

920
00:40:47,800 --> 00:40:50,839
Speaker 1: hour conversation with every single person that comes in, and

921
00:40:50,880 --> 00:40:52,440
Speaker 1: half of them aren't gonna want to talk to me

922
00:40:52,640 --> 00:40:54,600
Speaker 1: very well. But yeah, I would imagine some of those

923
00:40:54,600 --> 00:40:57,520
Speaker 1: folks I would just have ridiculously long conversations with, and

924
00:40:57,560 --> 00:41:00,399
Speaker 1: that's just gonna lessen the amount of money per hour

925
00:41:00,520 --> 00:41:02,640
Speaker 1: that I can make by hosting an AIRBM know you're

926
00:41:02,680 --> 00:41:04,239
Speaker 1: you're gonna look down and you're watching, like, dang it,

927
00:41:04,239 --> 00:41:06,560
Speaker 1: this is costing me money. I'm not running this like

928
00:41:06,600 --> 00:41:08,919
Speaker 1: a business right now. This is just fun. There you go, man,

929
00:41:09,080 --> 00:41:11,320
Speaker 1: All right, let's takeet back to the beer Man. This episode,

930
00:41:11,400 --> 00:41:13,640
Speaker 1: we had a peanut butter and jelly stout that is

931
00:41:13,680 --> 00:41:18,000
Speaker 1: called Neighborhood Nomad's by Casa Agrea out in California. Joel,

932
00:41:18,040 --> 00:41:20,919
Speaker 1: what were your thoughts on this beer Man? I thought

933
00:41:20,920 --> 00:41:24,560
Speaker 1: this was so interesting. It's totally peanut butter jelly time.

934
00:41:24,560 --> 00:41:27,319
Speaker 1: When you crack this beer open, there's no denying what

935
00:41:27,360 --> 00:41:29,799
Speaker 1: this beer is. Yeah, it's peanut butter jelly in your mouth.

936
00:41:29,920 --> 00:41:33,279
Speaker 1: It's like a tsunami of your favorite lunch sandwich growing up,

937
00:41:33,520 --> 00:41:36,000
Speaker 1: and it brings me back to to kind of my youth.

938
00:41:36,280 --> 00:41:38,480
Speaker 1: This was a great beer cosa Agrea. Man. They just

939
00:41:38,719 --> 00:41:40,799
Speaker 1: when when when you see something on the label of

940
00:41:40,800 --> 00:41:43,360
Speaker 1: what it's gonna be and then it follows up perfectly

941
00:41:43,600 --> 00:41:45,840
Speaker 1: like it's exciting. Man. I love having a beer that

942
00:41:45,960 --> 00:41:48,520
Speaker 1: just really hits those notes on the head. And it

943
00:41:48,560 --> 00:41:50,680
Speaker 1: wasn't a cheesy beer at all. I think when you

944
00:41:50,719 --> 00:41:53,520
Speaker 1: hear something a little gimmicky like a peanut butter jelly stout,

945
00:41:53,560 --> 00:41:55,960
Speaker 1: you might think that the taste might be a little

946
00:41:55,960 --> 00:41:58,719
Speaker 1: off pudding. But it really really wasn't. It genuinely had

947
00:41:58,760 --> 00:42:01,200
Speaker 1: those notes, and it had them in a way that

948
00:42:01,600 --> 00:42:03,600
Speaker 1: really respected the beer. I thought, So, Yeah, I really

949
00:42:03,680 --> 00:42:05,799
Speaker 1: enjoyed this one. Yeah. It totally had the peanut butter

950
00:42:05,880 --> 00:42:07,799
Speaker 1: and jelly actually going on to me, dude, And it

951
00:42:07,800 --> 00:42:09,680
Speaker 1: almost had like a chocolate e nost to it too,

952
00:42:09,840 --> 00:42:13,399
Speaker 1: So like this luxurious decadence kind of gone on. It's

953
00:42:13,400 --> 00:42:15,879
Speaker 1: almost like a peanut butter and jelly chocolate candy bar.

954
00:42:16,200 --> 00:42:18,520
Speaker 1: But in beer form, there's like a lot of toasted,

955
00:42:18,600 --> 00:42:21,319
Speaker 1: big dark flavors that you kind of attribute to like

956
00:42:21,320 --> 00:42:23,440
Speaker 1: the peanut butter. But then again, it also had these

957
00:42:23,440 --> 00:42:25,440
Speaker 1: sort of bright fruity notes as well that you can

958
00:42:25,480 --> 00:42:27,640
Speaker 1: kind of like attribute to the jelly nous of it.

959
00:42:27,840 --> 00:42:29,239
Speaker 1: I kind of like the Yen and the yang a

960
00:42:29,239 --> 00:42:31,440
Speaker 1: little bit of peanut butter and jelly, And I'm actually

961
00:42:31,520 --> 00:42:33,920
Speaker 1: viewing peanut butter and jelly way differently now that I've

962
00:42:33,920 --> 00:42:36,520
Speaker 1: said it out loud, Like peanut butter and jellies are genius.

963
00:42:36,560 --> 00:42:39,160
Speaker 1: It's almost like these cosmic forces. Now he referred to

964
00:42:39,200 --> 00:42:42,239
Speaker 1: them as Dan Yang Exactly. Did you ever have those

965
00:42:42,719 --> 00:42:45,040
Speaker 1: pre made peanut butter and jelly sandwiches that came like

966
00:42:45,040 --> 00:42:47,080
Speaker 1: in these packages without the crust on them? No, I

967
00:42:47,080 --> 00:42:49,680
Speaker 1: didn't know what I'm talking about. No, but it sounds

968
00:42:49,680 --> 00:42:52,520
Speaker 1: like a ridiculous thing. It's they're so stupid, obviously, Like

969
00:42:52,600 --> 00:42:54,759
Speaker 1: I was never able to get my hands on those

970
00:42:54,800 --> 00:42:57,080
Speaker 1: myself as well, but I was always so fascinated with them.

971
00:42:57,080 --> 00:42:59,560
Speaker 1: It's like, what's so special about that special peb and

972
00:42:59,640 --> 00:43:02,440
Speaker 1: jade and have the crust? It's wrapped in plastic. We

973
00:43:02,880 --> 00:43:05,120
Speaker 1: need it when the cool snacks like Dunk a Ruse

974
00:43:05,239 --> 00:43:08,160
Speaker 1: or our Gushers came out. I was years behind the

975
00:43:08,160 --> 00:43:09,719
Speaker 1: curve on that stuff. Man. I feel like all my

976
00:43:09,719 --> 00:43:11,400
Speaker 1: friends were eating that stuff at lunch, and by then

977
00:43:11,440 --> 00:43:14,200
Speaker 1: I was barely getting my hands on string cheese. Yeah.

978
00:43:14,239 --> 00:43:15,879
Speaker 1: I was eating fruit by the foot like four years

979
00:43:15,880 --> 00:43:18,400
Speaker 1: after everybody else. Man, it was I was behind the times.

980
00:43:18,480 --> 00:43:20,239
Speaker 1: But what can you do? But yeah, man, this beop

981
00:43:20,320 --> 00:43:23,640
Speaker 1: was great. Thank big thanks to my friend Josh. Thank you. Now. Yeah,

982
00:43:23,880 --> 00:43:25,719
Speaker 1: all right, man, that's gonna do it for this episode.

983
00:43:25,840 --> 00:43:28,000
Speaker 1: We'll have show notes up for this episode on our

984
00:43:28,040 --> 00:43:30,920
Speaker 1: website at how to money dot com. Yeah, and you know,

985
00:43:30,960 --> 00:43:33,799
Speaker 1: if you enjoyed this podcast and you are not yet subscribed,

986
00:43:33,880 --> 00:43:36,919
Speaker 1: we would highly encourage you to mash that subscribe button

987
00:43:36,960 --> 00:43:39,000
Speaker 1: wherever it is that you listen to your podcasts, and

988
00:43:39,040 --> 00:43:40,360
Speaker 1: also we would love for you to head over to

989
00:43:40,400 --> 00:43:43,959
Speaker 1: Apple Podcasts where you can rate and review us there. Alright, buddy,

990
00:43:44,040 --> 00:44:00,120
Speaker 1: until next time, Best Friends Out, Best Friends Out. M

991
00:44:01,960 --> 00:44:03,239
Speaker 1: I was trying to do my robot voice