Here are the books Michelle referenced in today's podcast. Note, these are Affiliate Links.
[00:00] Over the last two centuries, nearly 90 percent of the world's millionaires have created their wealth through real estate here to tell you how you can ride this wave with less risk and less capital long. Creating greater income is your host best selling author and Speaker Michelle Russell.
[00:22] Hi, this is Michelle, the master of money mindset and I'm here with this episode of the short term rental revenue podcast. And in today's episode we're going to talk about the people who rain on your parade. We're going to talk about the Hoa and the people who set up all these cc and rs and all the codes and compliance as city ordinances that will rain on your parade when you are a short term rental owner. Another thing I don't like HOA's and I'm gonna cover that, but HOA's have been like this for a long time. I don't know if any of you, because we didn't have a choice when I was going growing up in the neighborhoods that we grew up in or that my parents did. Most of the houses were just individually owned and they weren't, um, communities that were created, you know, and planned communities.
[01:21] But living out in Arizona, there are a lot of planned communities and when you have a planned community, most of the time the builder either puts together or the community itself puts together something called an Hoa is a homeowners association. And I can understand exactly why they created them because there are, are like, let's just say, I mean I had a big house backed up to the superstition mountains. We had two and a half acres of, of property with a big house and a guest house and a barn and horses. And we loved it. I mean, we could go riding the trails every day and it was a beautiful, beautiful home and I still have the property, but we lost that house sadly to a fire in 2005. And um, every day that I lived in that house, it was like a dream for me. I remember walking down to feed the horses in the morning and you know, cleaning out the stalls and doing stuff with my horses and then coming back and as I was walking up towards the house, there was my house and the mountain was behind it and every day I just felt like I was living in a dream.
[02:30] I really did. It was like every day I was just. I'm a cowgirl living in Arizona. Isn't this beautiful? I mean, everything was a dream about him, but I, here's one dreamy thing. I didn't have a homeowner's association and I didn't even know how lucky I was because when you have horses and stuff, I mean, you're going to have hay that you put, you know, when, when the hay gets delivered, sometimes they can put it right into the feed, but sometimes you know, you want to, there might be a little bit left and you want to, you know, put the newer stuff behind it. So you're like, oh, just put it here and you, you might get to it that day or the next day or whatever, but you don't have somebody on you all the time. Well, when we lost that home to a fire, it was devastating and the, the insurance company moved us out to Gilbert.
[03:22] Now we had lived in Gilbert, Arizona. Years before that, back in the eighties and I love Gilbert. I'm not saying anything bad against Gilbert. I Love, love, love Gilbert. But they put us in a neighborhood and it had an Hoa and the people of this Hoa would drive around in their little golf carts every day throughout the neighborhood. It's like these people had nothing better to do with their lives. They would just get in their golf cart, a couple of them and they would drive around looking for people who were doing things against their CC&Rs and they would, you know, it was crazy because I had younger children and so when I was cooking in the kitchen, a lot of times I would leave the garage door open so that I could see them and I leave the door to the, you know, from the house into the garage and the garage door so I could see all the way out to the street where they were playing basketball on the driveway and they had their little, you know, bikes and stuff.
[04:21] And they were all playing right there. I could see them and suddenly I was getting letters from the Hoa because apparently you can't have your garage door open now. My garage was always very clean because I'm one of those Weirdos who organizes everything in bins and labels it. And I have a color coordinated. So like my Christmas stuff is green and red and you know, my halloween stuff is black and orange and I mean I am literally that anal when it comes to organization in my garage was clean. But these people they don't want your garage door open they would like if you. One thing was crazy too is a lot of times we would take off and go to California for the weekend. We'd put our garbage can out so that it can be collected. But we would get back like on Sunday night before, you know, before everybody had to be back to work on Monday and they would have like a letter out there because the garbage was picked up on Saturday morning and it was left out all of Saturday night too.
[05:23] And you would have a letter and they'd want to fine you for leaving your garbage can out one extra night. And it was just. I mean I'm like, these people have nothing better to do. So I used to call them the Gestapo. Here comes the Gestapo and I remember writing the letter back to them about something and I said the gestapo tactics of this Hoa. My husband was making fun of me and I said, literally, come on, you need to be able to live your life. So I am not a fan of HOA's I am a fan. However, of city ordinances. I totally get that. You want to protect the value of your property. So we have a rental house or had a rental house that we just sold in Apache junction and our daughter lived there for years and in this, you know, in the, in Apache junction they have city ordinances.
[06:17] So we would get letters every monsoon season because during the monsoons the winds pick up and you actually get rain were where you don't get rain. What we get seven inches a year or something out there. So when it does rain and the winds are blowing around, you get the seeds that are blown into your yard with a little bit of rain. You get these weeds and it's usually about once a year that they come in. So we would get a letter that would help us to remind our daughter to go out there and pull these weeds, right? We'd just give her a call and we'd say, Hey, we got a letter from the city that said the weeds are getting kind of crazy in your yard. Go pull them because that's your responsibility. And she would do it. She was really good about it.
[06:57] And um, well she will probably get her husband to do it. But anyways, the weeds got pulled and I agree with that because it does keep the neighborhood's pretty. Right. And I also agree with ordinances that restrict people from having a car graveyard so that you know, you don't have this beautiful house and then right next door to you you have a house that looks like it's an old junk yard because there's so many dead cars in it or so much garbage. So I do agree with that. But the city itself can create ordinances like that to me are almost. I mean, come on, here's the deal. As a Christian, I was raised with the 10 commandments. God gave us 10 commandments. Literally he put it on a tablet and it was, you know, like engraved in stone, one tablet, two little parts. If you watched, you know, Charlton Heston deliver them down the mountain, the CC&Rs sometimes are thicker than a Bible or a phone book.
[07:56] I mean it's crazy the amount of rules and restrictions that they have in there and it's everything. Like there are some CC&Rs that restrict you from washing your car out in front of your house. Like to me that's ridiculous. It's your house, it's your driveway. You should be able to wash your car. But it's not just that. It's like, you know, we've always lived in big houses because we have five kids so it's not like, you know, we have to have a lot of bedrooms. So we've had big houses with really big backyards and when we had the fire and they moved us into Gilbert, they put us in the house and I think that house had a half half acre backyard. It was a big back yard. But there were rules and restrictions and covenants that said that you couldn't have an Rv in your yard, you couldn't park your own rv.
[08:50] But here's the deal. Not only did it have this big driveway, the driveway was extended and the extension included an rv gate. So you had an rv driveway with an rv gate and a huge but backyard. But you couldn't have your rv park there. You had to go and pay somebody to park your. If you had a camper, you had to pay somebody else to park it there. That makes no sense to me. Especially these houses were, you know, you're talking three quarters of a million dollars for these houses. They're not cheap houses. So if it's your house, if it's your yard, it's, if it's a big yard and you can fit your camper back there whose business just, you know, it's one of those things that I just can't understand. That's why I don't like HOA's But um, they tell you the color of your house, you know, you have to, you want to paint your houses, like what you have to pick from our color Palette.
[09:48] And your, you know, and you're like, okay, whatever picked from the color Palette, they'll even tell you what breed dogs are allowed in the neighborhood. Which to me is just absurd because there are no bad breeds of dogs. Only bad breeders have dogs. Only bad dog owners. I'm just simply because a dog is a big dog or even pitbulls. I mean they just, it's ridiculous. I, I know pit bulls in the world because their owners are great people and so these pit bulls are beautiful, friendly, wonderful dogs and they wouldn't harm a flea unless you came after. But you know what my dogs were if you came after me will go after you because dogs, that's what they do. They protect their owners, they adore you and they love you. So it's really not the breed of dogs. It's people's ignorance towards them. So, you know, like I said, I'm just not a fan of his but a joys are out there and they're out there supposedly just to protect the property.
[10:53] But honestly I think they get a little too carried away because it's just ridiculous. But when you go out to find a property, um, specifically to turn into a short term rental, you have to be aware of all of that, not just the, not just the CC&Rs and CC&RS stands for, um, covenants, conditions and restrictions. Those, they, they, it's a, it's basically a bible. Every, every homeowner's association usually has something that they call a declaration of CC&RS. And those are the rules, regulations and restrictions that they have for that neighborhood. And like I said, they, they include all those different things, right? And they say it's to protect the value of the property, but a lot of times they just get carried away. I mean, there are, there's a bunch out here in Florida and even in Arizona, because we have, we live in two different retirement states and they have, you know, 55 plus communities and those are great.
[11:58] But here's the deal, there are times where your kids might break up with somebody or they go through a divorce or something, they, believe it or not, they wouldn't let your child move back in with you in your property because they're not. They don't belong in the 55 plus community. Now. Maybe you wanted that. So you chose that for a reason. But I mean there's always circumstances that. And then things that happen. We had my uncle come and stay with us for a little while because he had his leg amputated and he needed. We have a ranch style home, so it's one level and he just needed to be able to get around in a wheelchair until he learned to, you know, manipulate himself with no legs because that was actually a second amputation. So, you know, just, can you imagine if somebody said no, sorry, they can't stay with you because you're only allowed this many people in your home or this age of person.
[13:01] It doesn't seem right to me. If you own your home than anybody could tell you what to do in your home or how to live in your home. Um, now obviously if you're making an income out of your home, I think that's different as if it's, if it's in some kind of pressing on or imposing on your neighbors, then that would make a difference. But if it's, if it's a house where you have your own driveway and you have, you know, your people are going to park, they're not bothering anybody else. I don't see how that can be anybody else's business. But apparently it is. So obviously the government wants to make their tax money off of that. Which, you know what, Arizona is awesome for that because our government governor, he just made a deal with the guys from Airbnb. So Airbnb pays the, the government pays taxes directly to the state of Arizona now.
[13:57] And I don't know if we're the first state to do that. I, I just know about it because I lived there. So it was one of those things. But I think that is pretty cool if a government kind of takes that first step and says, okay, if this is something new, because right now in the state of Arizona there are about 7,900. I looked this up, 7,900 Airbnb rentals available throughout the state of Arizona. And that's not a lot ladies and gentlemen, because honestly right here in the city of Orlando, we probably have that many or more in one little city. So the state of Arizona is actually, um, got room for growth. But out of that they average one makes about $5,000 a year. That's like $5,000 a year, is not that much money, meaning they're probably renting not very often or maybe just one little bedroom for not a lot of money, you know.
[14:55] So, um, what the governor did with Airbnb is pretty darn cool. I think it's an, an amazing step forward. I think it's quite, um, you know, just brilliant to me that our government would step in and say, hey, this is the way that the world is moving. Let's move with it. Instead of having all these old regulations. And old laws and old codes and old compliance things that people have to go digging through to find where they can, you know, apply, apply for a permit in order to have an Airbnb at their house or a short term rental at their house. And so, you know, keeping up with the changing, I guess you would say changing commerce, the changing world. I mean, it, it is. Look at what Uber have done to the taxi industry and what's really cool about like companies like Lyft and Uber is.
[15:55] Think about this. There were, when I was growing up, we grew, we grew up in Chicago, my husband and I, Chicago is a great city for public transportation because we had the ell, we had the Burlington Northern, we had buses. Um, there's, I mean there's so much public transportation you can pretty much get anywhere, but a lot of cities weren't like that. When we first moved out to Arizona, there was no public transportation to speak of. I'm only buy in, in the inner bigger part of the city was there were a little bit of a bus service. And then I remember when they started building the train in Tempe, which, you know, that was a, that was a big deal when that started happening, but we didn't have what we had back in Illinois. We didn't have that public transportation. And when you're in the city too, there's tons of taxis, right?
[16:51] Taxis, taxis everywhere. But the taxis were really expensive, like honestly even back having children in our mid twenties, that was in the eighties and nineties. And you're, you're thinking to yourself, holy cow, um, we were paying 20 bucks for a taxi ride. And back then that was a lot of money. So these ubers and lifts now, like my kids here in Orlando, they take a lyft to or from the amusement parks all the time, if somebody can't give them a ride. And so they'll fly out. And if I'm somewhere with my car, they're like, oh, don't worry, we'll just get a lift. And it costs them maybe five, 10 bucks. I mean, that's not much at all to take a lyft. So it's really, it's so convenient and it's so cheap now that it's amazing to me. And, and honestly, what has that done? I mean, I know that the taxi services are griping it, but you know what, if you go to Panama City in Panama, the country, I took my daughter there and we were there for an entire month.
[17:57] And when you're down in the city of Panama, you, all the taxis, they are independent. So when you get into a taxi, it's not like yellow cab service or you know, they, it's not joe's cabs, it's not one company. Every cab is independent. And what the government has done is told them they mandated that within the city, they all have to have the fares, keep the fares low. So every time you travel within the city of Panama and Panama City is a beautiful big city. So it is like a Chicago or you know, um, you know, it's a big city, there's skyscrapers and things all around a big, big city, always less than $5. And that's $5 us. Because remember in Panama they use US currency. So we could go anywhere for less than five bucks and we could go down, we could even go all the way to Casco Viejo and go to the old town down there where they have.
[18:58] You've got to go down there, but it's, it's super nice. But anyways, all of it is less than five bucks. And what does that do? That creates like people have their own business cards and they you can call them and that's what creates commerce. And who do you call, you call somebody who gives you really good service, right? A clean ride for a low price. It creates this competition and that's what America is all about. Having competition in business. So if people are crying, if the, if the taxi services are crying, it's simply because they've reemed you for so long with their taxi service and obviously they're going to compete in prices and they're going to compete for service and it's going to be based on those two things. Usually either price or service and you're going to go with the one that gives you the best service for the best price.
[19:53] Right? And if not, if they can't compete with that, then guess what? They go out of business. And the reason why they go out of business is because they don't improve on one of those two things. They don't lower their price or they can't lower the price enough to compete, right? And then they wouldn't be able to, or they don't improve their service. Just improve your service, have a cleaner, more reliable service that gets there quicker. You need to, when you're an America, you need to be competitive. That's what keeps businesses, you know, like ours in business, it's the competition. That's what drives business. And it's going to be the same exact thing for your B and b for your short term rental. If you have a crazy crappy place that has bugs and that you don't clean the bathrooms or something, you're gonna get bad reviews and no one's gonna want to stay there, no matter how low you make the price, right?
[20:55] In order to compete, you're going to have to give good service. You're going to have to have a clean property, right? And the cleaner your property, I always use, I always use a proper maid service. I do not clean my properties myself, although I am a very neat person. I would literally spend way too much time in there because when I cleaned my own bathrooms, it takes me forever because I really do a good job. And I'm not saying my cleaning service doesn't. They just do it professionally for a living. So they do what I do every single day, all the time. And they could do it better and they could do it faster than I can. And so I pay them to do it that way. And the same thing with my properties. Uh, you know, you, you make sure that you've got them decorated nicely, you've got them furnished nicely, you've got them stuck nicely and they're super clean and that you've got good pictures.
[21:49] And those are the going to be the properties that people want to stand. Now you can compete with those properties with a crappy little property, keeping your price low. But guess what? After a while, people aren't gonna want to stay there because if it's a dirty place, nobody wants to. Nobody wants to sleep in a dirty place. Nobody. Nobody wants a crappy bathroom, right? A stinky, smelly, dirty bathroom. Even if it looks dirty, you have got to change it and make it clean. So it's business is all about competition and I don't care what industry you're in, if you have a bakery, if you have food that tastes like crap, people will buy it once and then they won't buy it again because it doesn't taste good. Regardless of how cheap it is, regardless of how cheap it is, it's all about competition. That all business is about competition.
[22:41] And if it's not, then you're living somewhere you shouldn't because if you are forced to buy something that is not good, then that is just really sad. You need to get yourself to America into this, you know, into our compassionate capitalism state. I'm, I'm all for capitalism. I remember years ago, and if, if anybody's listening to this from all those years ago, um, Rick Devoss wrote a book called "Compassionate Capitalism", and I read that holy cow probably close to 30 years ago, and it was one of the best books I've ever read about capitalism and when I was going to school, they taught capitalism, socialism or communism that they're teaching now, but they taught us why it works. And the reason why is it drives out all the bad businesses. You'll see all those, those clean apartments that are competing with the dirty apartments, the dirty ones will fade away.
[23:38] Why? Because they don't get the bookings, right? Competition drives out the poor competition. It does, it just works that way. And it should, should any government step in and give those dirty bathroom, you know, landlords money to help subsidize them so that they can keep their businesses going. No. Why would you? If their businesses failing, they've got to figure out what's failing about their business and fix it or they go out of business. That's the way business works. So that was my rant about compassionate capitalism and the CC&R's, right? But here's the deal, when you are going out looking for a property and you want to have a short term rental, you have to know all the rules and regulations, codes and compliances, ordinances, um, everything from the city to the county, all the government regulations, and you also have to know if there's any HOA's at the location that you're in.
[24:44] Okay? And you have to know that before you sign the lease, this is imperative before you ever sign a lease. You have to know about those things because if you get into a lease and then you find out later that the HOA says that you can't do any short term rentals. You're screwed. You, you owe that person rent on a property that you can't sublet. And they might have even told you that you could. They might have even signed the thing because maybe they were unaware of it. Let's give them the benefit of the doubt and say that they were just unaware of it. But here's the deal. You knowing that you really can't do that. Now obviously there are states, was it, um, I want to say New York is New York, I think it's New Jersey where it's just, it's illegal to have short term rentals like airbnb is.
[25:38] And please, if I'm wrong, I know it's just one of those eastern states. I don't go up there. I'm definitely in Arizona and Florida girl. I just stay where it's warm, like just stay where it's warm. I, I don't go up north anymore. But um, when, when they make those things illegal, there are still people who do it. You can still go online and find, you know, go on any airbnb and you're going to see a property listed in that state. Those people are just breaking the law and they choose to break the law. But here's the deal, don't you do that? Don't you ever be a student of mine or um, you know, I just, I cannot tell you. There's no reason to ever break the law. So if one area says no, there's always another area that says yes, just find a legal way around stuff.
[26:32] Right? And, and if it's legal, I don't care what anybody says, I know that some people have a challenge with, um, who was it? I'm the guy who was married to the Heinz, a lady. Oh, he had a big yacht and there was a bay that one part of the bay was maybe in New York and the other part of the bay was in New Jersey and he saved millions of dollars a year by parking has yet across the bay. Now. Seriously, how can anybody get angry with anybody? They're not breaking any law. They're literally just saving themselves money by parking across the bay. So you're going to do the same thing if you find a way to save money legally. If you find a way to earn money legally and do it by, you know, moving from one city to the next, then why not do that? That doesn't why people would be angry with you for doing that, for, you know, you're following the laws.
[27:32] I don't understand. It doesn't make any sense to me. So I'm one of those people, um, in, you know, we can go into my back story another time, but I don't like when people break the law, it just makes me very, very uncomfortable. Um, it's not a good thing. And my mom, I luckily I had my mom because my mom would say, yeah, that's not right. My mom was like a saint. I always said she was like a saint, but she always taught me, you know, what, you do it legally. Just just do it legally. Just find the city that allows you to do it, find the county that allows you to do it, find a nature way that allows it to happen or a home with no hoa and just do it there because there are more than enough of those around that you don't have to break the law.
[28:24] You don't have to do something illegal to make money. There's more than enough ways to do things legally. So go out and find those. Okay? Now remember every time, not just one time, okay? Every time, unless you're buying, obviously like, um, if you pick a city and I always recommend that the first three or four properties that you have be in your city or very close to the city that you live in and that you know that area very well, it's kind of like the rental properties when you first start buying rental properties by close to your home so you can check on them often, right? And by, um, in, in certain neighborhoods, know those areas, know where, know where. All the stores are around them. Know everything about the area that you're choosing. So when you buy your first short term rentals, get your first two or three properties, I'd say three or four properties in one certain area.
[29:22] And that way you can look up the city and county ordinances and all the government regulations for that area. And you don't, you know it's going to fit right? You, you just might have to check on the Hoa for each property if they're in a different subdivision. But once you, you've got that down right now, like I said, I know they're there to keep the property values up and stuff, but come on, let's be real. But just know them. Just know that there's going to be all kinds of consequences if you don't. And by consequences, I mean there could be bad consequences when you go against an Hoa. They can do things like they can suspend your privileges. So like if there's a pool or a gym or something, you might not be able to go to the pool or gym or um, let's say you, you wanted to paint your house blue because I'm going to say blue because in one neighborhood I lived in so many did.
[30:19] They painted all the houses were like a natural color. I'm like tans and stuff. And then somebody came in and they painted it blue and the and the Hoa got on them. But here's something that they could do. Forced compliance. They could literally hire somebody to paint your house. The one of the right colors. They choose the color for you. They'd paint your house and you'd have to pay them for it. So, you know, there's forced compliance on things and there's also fines and fees and jail time if, if you are, you know, uh, doing a short term rental in an area where it's illegal, you could actually face not just fines but serious jail time. So why would you do that? Don't, don't do that. There are more than enough places out there to find that, you know, don't have those gestapo tactics tagged onto them, right?
[31:10] Nobody's driving around in a golf course, caring, about your little, you know, property and they don't have the CC&Rs that go against you. So nothing's going to force you to do that. Just remember, just follow the rules, follow the regulations and you should be all set. You should be fine. And those are the only. Those were the only things that really, um, I want to say that really you have to watch out for. I mean, obviously there's little things, but this show, I was like, what's the number one thing that can, you know, rain on your parade when you are a short term rental owner and that's going to be those laws, those rules, regulations. And restrictions, just make sure you're always covering the rules and regulations and also make sure that if it's not your property, that if you are renting a property from somebody else, that you have an addendum in there on your lease that allows you to do a short term rental.
[32:12] You need to have that. It's, it's a must because you can't just say to, you know, a landlord that I'm going to rent this place and then you turn around and rent it to somebody else that's actually illegal. And you don't want to do that again, serious jail time, not worth it. Just have an addendum. Um, and it's easy to talk to landlords, you know, especially former relationship with them when you're looking at the property. Get to know them. I mean, even if you want to take them out for lunch after you see a property, if you're interested in the property and take them out for lunch, get to know them, let them talk and you know, telling them a backstory about yourself and about what you do and let them know that, hey, if you allow me to do this, show them pictures of your other properties or were, if it's your first property, show them pictures of properties online and say, look, these properties are well maintained.
[33:05] The hairs they're cared for, they're super clean. We have people, you know, our house keepers keepers are in, there are house cleaners are in a property an average of 10 times a month. So I mean, who cleans their house 10 times a month? I, I'm a super neat freak and I don't clean my house 10 times a month, you know, I have, my housekeepers are in there once a week and that's just four times a month. So that's a lot of cleaning. That means that house is nice and clean. You're not going to have problems with it. And that's another thing I tell them, it's going to be well maintained when you have an income property making money for you, you take care of it because why? Because it's making money for you each and every single month and so you are going to do your best to maintain that property and maintain it well.
[33:53] So let them know you care about there that property as much as they care about that property. Okay? So be that person. Get a relationship with the landlord, makes sure that you've crossed your t's, dotted your i's, you have an addendum that you've checked out the Hoa if there was one, you know what the CC&Rs and what they allow, what they don't allow. You know what the city ordinances and the county ordinances say you've gone on all the websites and checked it out for each city that you're doing a rental in and make sure that you're just. You're just following the letter of the law. And that's all I ask because when you do that, when you follow the letter of the law, you can sleep at night. You know what I mean? You can sleep like a baby because you know you're doing everything you can to, you know, make an honest living for yourself and for your family and that you're doing no harm to anyone else.
[34:51] The laws are there to protect everyone and I mean obviously sometimes they overstepped their boundaries when they're telling you that you know your dog because it weighs 10 pounds more than that little Shitzu over there that's nipping at my ankles. You know, your dog is more dangerous simply because of the breed. It doesn't make any sense those things, but they were put there by, you know, people who are ignorant of the fact that all dogs bite know what I mean. So they just, they're trying to protect somebody. So that's what laws are there for. They're trying to protect somebody. Sometimes they're a little ignorant of what is really going on. But then that's your job to fix that, isn't it? If you're a dog owner, it's your job to make them more aware of those facts. If you a short term rental property owner, when you go into a city and then they start these new ordinances and they try to squash what has been, you know, making money for you become very active in the political campaigns around them and say, hey look, this is a way we make money and you know, our properties aren't doing any harm to anyone else.
[36:00] If anything, we keep our properties well maintained compared to other people because we want our properties to be beautiful. We want them to be picturesque. We want people to look at them and have them be aesthetically pleasing to somebody at all times the outside and inside, you know what I mean? So whereas other people are just, you know, dumping their trash and let the weeds grow and putting cars there so, you know, let them know that. Be Active in keeping these laws, um, fair for all people involved. So that's a today's podcast. That's my thoughts for today. You got to hear all my political views. I am definitely an American capitalist. I, I love capitalism. I love the fact that I came from nothing and that I was able to work my fanny off in order to have what I have and in order to live the lifestyle that I live.
[36:58] And I also love the fact that businesses go out of business because they're not doing business well, and I believe that they should compete. I don't believe in any kind of monopolies. I'd always, every time I go into a new city and pick up another short term rental, it always angers me when I only see one electric company or one cable company in that area because that is a monopoly. Ladies and gentlemen, that is not capitalism. There should always be multiple choices in this country. We should always have, you know, a variety and we should always be able to choose. We should always be able to choose, you know, what restaurant we go and eat at and I'm going to go look at the yelp reviews or whatever. Right? And then, and if somebody's got a ton of bad reviews and I don't eat there, whose fault is that?
[37:50] If they're 700 bad reviews on a restaurant, there's something wrong because after a couple of hundred views, people should stop going there and people or people should start changing the menu and then marketing and insane new management, new menu, new chef, new whatever, right? Because they should improve and if they don't improve and their business closes, whose fault is that? It's their own. It's their own fault. So that's what I love about this country. I love the fact that we have opportunities that we have, that we can start from anywhere with a background from anywhere and literally create the people that we become. Right? And I, like I said in previous podcasts, 1,700 brand new millionaires each and every day are created in the United States. 1,700. Are you going to be part of that 1,700? Which day? Put it on your calendar and say, by this day I am going to be one of these 1,700 brand new millionaires by this day, because you can be, you can be.
[39:00] You've just got to take the action, an educated action, and there's always opportunities out there and there's always room for growth. There's always room for improvement, right? And the ones that fail, fail to do so for a variety of reasons, but a lot of them is because they just don't fix what's broken. If there's something not working, fix it, fix it. Because you are in competition always. Okay? Keep your business, you know, above the bar. Make sure that your properties are always above the bar, that they're the ones that stand out, they're beautiful, they're clean, they're well maintained, you care about them, you care about your customers, you care about your guests, right? That's the person that you want to be. So anyways, that's it for this week. Next week I should be back in Arizona. I'm not promising or guaranteeing because I'm detouring down to the Keys and you know, sometimes things happen down in the Keys that might delay your return to Arizona, but I heard it is getting cooler in Arizona.
[40:06] It's like 65 at night again. But anyways, um, if you're down in the Keys, say hi, I've been here in Orlando for a month now and I've met a bunch of awesome people, picked up a couple of new properties. Um not as many properties as I wanted to, but I definitely, there's always room for improvement. I think I'll come back. I'm probably, I don't know if it'll be between, you know, the, of the holidays or maybe right after the holidays. But um, I definitely love the warm weather. What's really cool is you, your area to find what is special about your area. I've seen some beautiful pictures of the fall leaves up in like Vermont and even Indiana has those covered bridges and stuff. There are places people want to visit that they don't get to see. I get to see fall color leaves when I go up to Sedona.
[40:59] Um, I'll, I'll make that trip in the fall so I can see what the leaves look like and then I go back down and, you know, jump in my hot tub. I'm happy where I am. I hope you're happy where you are. And actually I know you can be because this plan, remember last week, I'm so grateful for all the listeners that we have in last week's episode was all about planning and we got some great feedback that said that you guys got a lot out of it, so please do me a favor, email me private, message me, and let me know if there's something that we can give you, some kind of information that we can give you that's going to help you out in any way, shape or form because that's what we're here for. We're here to help you and we really want to serve you.
[41:46] So do me a favor. Hit that subscribe button and subscribe to our podcast that helps us out. Leave a review. Those five star reviews. I'm so grateful for honestly, and every time somebody leaves a review, I just, I'm, I'm like, thank you for giving me the opportunity to help them and thank you for putting me in a place where I could make a difference in somebody's life. I feel great about that. And you know, just so grateful for all the opportunities I've been given and I'm hoping that I can make a difference in your life so that you can turn around and do the same thing so that you can turn around and make the difference in somebody else's life. So thank you so much for listening and thank you for subscribing. Thank you for the comments and God bless. Go and Grow.
Audible is offering a free audiobook download with a free 30-day trial to give you the opportunity to check out their service. To download your free audiobook today, go to audibletrial.com/STRRevenue or just click on the image above. Audible is a proud sponsor of the Short Term Rental Revenue Podcast.
We've got something AMAZING in store for this year's class! You won't believe all of the trainings and videos that we've added... plus
We've added interviews with some amazing experts in all areas of our business. People to help you build and grow what could potentially be the very business that carries you to financial freedom!