we're going to be talking about putting your money where it matters most, tightening your belt in some areas while spending in others. But before we do that, I wanted to remind you that our podcast today is brought to you by audible. You can get your first audiobook port free by going to audible trialled dot com. Forward slash str revenue. That's audible trial dot com forward slash S T. R. Revenue. You'll get your first audio book for free, plus two more free books every month and a monthly membership of 30 days to try out audibles. Awesome awesome products. You're gonna love it, and it's going to expand your knowledge. Readers are leaders. I say it all the time. Goto audible trial dot com forward slash str revenue to get your first audiobook and 30 days for free right now. So we're still in the midst of this pandemic, and it's got a lot of people stuck at home. Hopefully, you're working and you're being productive. Not like around here. We just moved. So there are boxes and boxes and boxes to unload, and we have downsized for the first time in years. So we've gone down about 2000 square feet in our home, and we're now in a lick of 3700 square foot home. And when you had five kids and you had a big house for many, many years, we've had 11,000 square foot house is and we're going down, and I know it's like crazy. My husband and I are going nuts trying to find room for all the stuff that we've accumulated. So were sparked, joining everything, and it doesn't seem to be working because everything seems to spark joy. So we're trying to do that. But at the same time. He's got to remember that although his office is closed and he's not seeing patients right now, I am on the other hand, working and so still need my quite a time and still need my recording time and still need time to keep my business is up and running. I went down to Tucson last week and did some stuff with the motto and a property that we picked up down there, and that's super exciting. We've got more properties lined up and in the works, and you should, too. And that's why I wanted to talk to you this week. I know, I know. I know that this is a crazy time and it's unprecedented, right? There's nothing like it. But I want to encourage you guys to stop listening to all the shit on TV. We're gonna make sure that I start this one with the verbal warning is because guys, there's so much crap on there and stuff that they want to scare you with and things that honestly have nothing to do with us in our life anyway. So why waste our time listening to all that and worrying ourselves and just getting worked up over things that we have absolutely no control over. Let's control the things that we can control and just abandoned the things we can't and let the people who handle them handle them. Because if we have nothing to do with it, why get upset over it, right? So I have literally, because we were moving. I have literally not been online very much in the last, probably three, maybe even four weeks. So I haven't been on Facebook. I haven't been on Twitter. I haven't been on Instagram. I haven't been on any of the social media platforms. I haven't watched the news. I know that's absolutely crazy. I do have friends who constantly send me videos and kind of keep me updated on what's going on. But honestly, it's been like, so refreshing not having to listen and not having to worry about all of those things, just abandoning them and letting them go and just worrying about the things that I'm worried about and I don't even really worry because I know that everything is gonna be all right. I'm always safe. I'm always in good hands and I've been working a lot a lot, a lot on my investments, and I think you should, too. I know this is so scary for most of you, because when things get bad like this, everybody's first instinct is to protect themselves. They go into that fear mode, and they want to just kind of regress into their little hole and protect what they have. And honestly, now is not the time to do that. You're gonna find Maur and more deals out there than ever, ever before. And if you are a good negotiator, hell, even if you're an average negotiator, you'll probably be able to work out some really, really sweet deals in the midst of this pandemic. So there are absolutely reasons that we have to tighten our belt in certain areas. But in other areas, this is like a sale. It's like everything going on sale. So remember during the Great Depression, when the stock market just dropped a bottomed out right? People were jumping out of buildings, which was ridiculous because literally the majority of things recovered within a year. Within 12 months they recovered to what they were, the majority of them, and in others two years that was maximum. No reason to jump out of a building. So if right now you're like, Holy crap, the shit has hit the fan. Everything is going to hell in a handbasket And my money is going down the drain. I'm losing everything, Don't worry. This has happened before to a lot of people and you will recover. And most likely, you'll recover all the way to where we were before this thing hits in the next year. And I would say Well, within two years for the majority of people, even if they had it really bad. Let's say you had dozens and dozens of properties that you are renting now and that you have to pay on even if your business one bankrupt and you lost everything and he had to start over again. So when the whole Corona virus thing began, we shifted quickly and we shifted from our short term rentals into longer term rentals. We didn't go right to long term meaning, a year lease and stuff. We switched quickly into focusing on traveling nurses. That was our main focus and longer term rentals. So we wanted something anywhere between a month and three months that was our next focus and we shifted our marketing rather quickly to focus on that. Hopefully you did the same. Hopefully you did the same because in the majority of markets all around the world, the short term rental market took a nose dive. Right? But if you didn't do that right away, don't panic. Don't worry. And don't beat yourself up over it. Most people don't act quickly. They don't have their plans set in order. And remember what I said and I've said it over and over again. You have to have a plan, a Plan B. I mean all these exit strategies. When you're talking about real estate, when ever you get into real estate, you have to know how you're going to get out of it. And if this happens, what are you going to dio? And if this scenario happens, what are you going to d'oh? You always have to have a plan A B C d. Right. So let's go over what we've talked about over and over again. When it comes to real estate investing, we've talked about exit strategies, right, having lots of exit strategies we never buy or rent without keeping in mind what a long term renter would pay. So that means, in case of an emergency, which I would definitely call this pandemic and emergency, that we're not stuck with a mortgage or a rent payment that we cannot pay without having our short term rentals running right. We wanted to make sure that our long term renters could pay that amount. So, for instance, when we buy a property, we make sure we know what the rents are in that area and that we could put a renter in there and cash flow that property, not just make the mortgage payments. Guys, make the mortgage payment and make a little bit of money on top. Have enough cushion that we felt comfortable switching toe a long term rental for a year or more. Because hello, that's what a long term renter is. A year or more lease, right? For the most part. So we always go in with our eyes wide open in case something happens. And guess what? Something just happened. So we switched to longer term renters, meaning we didn't go right for the long term rentals because we know that this is probably going to correct itself in the near future. Who knows if it's gonna be a month or two months or three months, right? We didn't know and nobody knows. And now they're saying what the beginning of May. So hopefully that's true hitting. People will start to travel again, but they're still going to be this social distance, See, and who knows how that's going to affect everything. So we didn't want to go immediately into a one year lease contract with somebody. But we focused more on a longer term long term rental, right? So more than 30 days, meaning traveling nurses, business people, people who needed to hunker down for 30 days or more. And that's where we started our marketing, and we started doing that immediately. What you're going to find now is that we're going to beam or and more people flooding the rental markets, and you're gonna have to be careful, because now, if you're starting to panic and you waited this long, you're going to see a lot more properties go up for long term rents, and you're going to have a lot of competition in this market. What does that mean? Well, that means you didn't act fast enough because you should act quickly enough that you could either fill those shorter term rentals with nurses and things like that. And if you couldn't, you would have switched to your long term renters, meaning six month and one year leases right away. We don't wait. We don't hesitate. When something happens, we jump on it. We move quickly because in the real estate market you have to move quickly. You can't be iffy about stuff and wait for something else to happen. If you hesitate, it's more than likely you will not be a successful real estate investor because he who hesitates loses in this game, you have to act quickly. So we did. We acted quickly. We switched our marketing right away. We also added other platforms to our marketing plan, which was kind of crazy, because most of the time we were just bonding with just Airbnb or V r b o right in the different markets that we had. But when push comes to shove, you have to open those platforms and offer yourself up on more and more and more platforms. So if you're sticking with the short term rentals, then you want to be on every platform now? Now you've got to get yourself out there. Now you've got to get yourself noticed, right? So you're gonna have to market yourself more and more often. You're gonna have to tell everybody you're gonna put flyers up. You're gonna do the nitty gritty. This is like going back to basics. When you are looking for a property and you're a real estate investor, you can't just say, Well, I'm open for business. And I'm looking to buy houses and know that people are gonna find you. That's not what's gonna happen When people are successful at finding houses in the real estate market. It's because they're marketing. They're sending out postcards of sending out letters. Maybe they have bandits signs on the corner. Whatever they do, they do it consistently, and they do it often. They have themselves out there all over the place, and that's what you are gonna have to do now. So you're gonna want to put your property on Craigslist. You're gonna want to put it on your social media pages. Make sure that when you're on Facebook that you're not putting your business on your Facebook page your personal Facebook page because Facebook will shut you down. So you have to have ah, business page and you can share your business listings on your Facebook personal page. Okay, So make sure you're following their rules because you can't just promote yourself or your business on your personal Facebook page without having a business and then share it. So make sure you're sharing from your business page onto your personal page. Got it? Good. Okay, Now, remember, you wantto put yourself out there everywhere. I mean, you're going to become the car salesman of short term rentals, right? You are going to be everywhere. You're going to be annoying, and people are going to see you everywhere because that's the only way you can get your name out there. If you want to survive doing this on Lee in short term rentals, you are gonna have to bust your butt marketing just just the way it is. You're probably gonna have to lower your rates. You're most likely going to have to be on all these platforms and be careful, too, because here's what I know. I know that if you spend too much in the wrong places, you're going to end up in a lot of trouble. So right now, while you're doing all this marketing while you're trying to get yourself out there, maybe you're switching platforms or you're going to the nurses, right? Or maybe you decided to put your place up for rent. Whatever you do, don't spend a lot of money doing that. Do the footwork yourself. Go out. There you are the one who's going to list your property. You're not gonna hire a big management company and pay them thousands of dollars to do it. Because why? Because now you're wasting your buddy and it's money that you're already probably behind right. Because we've already had several weeks of a struggle here and several weeks where people aren't getting paid in several weeks of cancellation fees and you name it. So right now is not the time to spend more money on that part of your short term rental business. Weird Hiss. A good time to spend your money is finding more properties, and I know you probably think that's just eft upping crazy. No, this is actually the best time. Why? Why is this the best time to pick up more rental properties because people are panicking and any time people panic, that is the best time. What did Warren Buffett say? He said, Be fearful when others air being greedy and be greedy when others are being fearful. Be fearful when others are being greedy and greedy when others are being fearful. What that means is, right now, people are afraid they are acting in fear. This is the time when we become greedy, meaning we go out and we look for properties. We look for the properties of people who are freaking the out and they're doing anything to dump the properties because they're scared to death. They're gonna lose everything. And this is when you find the deal's thes air. The times when the majority of us have a ton of money in our bank and we are waiting for opportunities like this. This is opportunity time. Right now, you're going to be able to find a ton of people who have great short term rental properties, great locations, and they are freaking the f out and you can negotiate yourself a sweet little deal if you know what you're doing. And remember, negotiate, negotiate, negotiate everything is negotiable when we are entering into contracts. Right now, we are asking people for two months off. We're just saying, Look, we're not gonna have this up and running for two months, and we know for sure that we can't get anybody in. So we ask for the 1st 2 months with no rent. And if we're buying a property, I mean, it's even better because we get the lowest price on the property. They're ready to dump it. They're just scared to death. So they're willing to not make out and not make any money and sometimes even lose money because they feel they can write it off. And we are getting these sweet, sweet deals. So stop panicking and start buying. Start renting, start finding those contracts and negotiate yourself. Ah, little bit of time. Some leeway to get those contracts in motion to get your short term rentals up and running. This is the time to be greedy when it comes to that part. But when it comes to your short term rentals, the ones that you already have in your operating don't dump a ton of money into them that you won't be able to recuperate, right? So, for instance, if you've got properties close to your house, now is the time to think about cleaning those properties yourself right Now is the time to think about negotiating with the landlord's. If you have a landlord going in there and saying, Hey, look, you see what's happened, you see what's going on with our business? I'd love it. If you can help me out. Maybe you can even go into a partnership with them, make them a partner with you. So maybe you can negotiate with your landlord something like You're only paying a minimum amount, something that will cover their mortgage and their expenses, and you'll make up the rest later. Or maybe they can even help you to miss a payment or two or to lower the payments, something that helps you both out because they don't want to lose you. They love having you. Obviously, it was great. Make them a partner with you so you can go from doing rental arbitrage to doing the co hosting, which is fantastic. Making them a partner with you right now means that you have the opportunity to eliminate your rent completely and co host with the owner making it so that all the money that is made will pay for the expenses and then be split amongst the two of you at the end. Right? And that's a much better deal. Then you never have to worry if something like this happens again, because you always pay the expenses and then make the money at the end. Remember that I have entire episodes on this, that you are going to want to go back and listen to when it comes to co hosting, because co hosting is fantastic and it's a much better deal. And in this scenario that we're living right now and that we are experiencing co hosting would be the best of all worlds, right? You wouldn't be freaking out if you're co hosting the majority of your properties. And this is also a great time to be buying properties and picking up properties and begin up more releases and working with those landlords and doing your best to become co host with them and not rental arbitrage. Rental arbitrage is great, but it is the low hanging fruit. It's a good option, but it's the least appealing option when it comes to a short term rental property. The first option you would love to have is to be the owner. That's your number. One goal, always right, is to be the owner of the property if you possibly can. And number two, it would be to co host that property because then you wouldn't have any expectations. You would have no mortgage and no lease. The money you make comes out of the money that's earned on the property, and no money has earned. No money is made, but no money is owed That's co hosting. So the low hanging fruit in the short term rental market is always rental arbitrage. But you are going to be responsible for those rents. So I suggest you go back and you listen to those episodes. If you are thinking about doing just short term rental and just rental arbitrage, now is not the time to pick up Maur rents. Now is the time to negotiate the crap out of this and turn everything to a co hosting situation or an ownership role. Okay, now that tightening your belt, you are going to have to tighten your belt when it comes to everything right now, right? Tightening your belt means eliminating unnecessary things. Stop spending and hemorrhaging money in the wrong places. Take a look at everything you're doing and re evaluate it and then just, you know, tighten your belt, making sure that you're not wasting money. Now you're gonna want to do this, not just at home right now, because everybody is looking right now at home to do the same thing. Everybody's home and very few people are working. Very few people have essential jobs. And all of us who work from home, we don't have that income coming in unless we're making it right. So there's a lot of people at home right now and they don't have any income coming in. What are they gonna have to think about? Well, first of all, they're gonna have to think about the run in the mortgage payments. If they're paying a mortgage, time to call the mortgage lender and make some deals. Just tell them what's going on in your life and say, Look, I cannot make this mortgage payment this month. Here's what's happened. I haven't gotten a paycheck in a month or whatever is going on right let them know, be very open and honest with them and work with them right now. Lots of companies. Actually, the majority of mortgage companies air out there Ready, tow work with home owners. They don't want to foreclose on millions of people. They've been through this scenario a few years back, and they sure as shit don't want to do it again. Right. So they want to work with you. And if you can defer your payments, I mean, that would be the best scenario, and the government is actually helping them so that they're able to do that as well. So right now there's a ton of programs, but you have to be the one to make the call. You have to be the one to take the first step and make the calls and call your bank. Now, if you're renting, you're going to do the same thing with your landlord. Call your landlord. Most states now have implemented that landlords cannot evict you all the way through may, meaning. Even if you didn't pay your rent, you will not be able to be evicted. That does not give you the right to not pay your landlord Obviously, if you're living in a place or if you're renting a place, you still owe your landlord money because your landlord still owes most likely a mortgage company. So somebody's got to get paid. But you can call your landlord and you can discuss those options with them. They can call their mortgage company and work out scenarios with them, so everybody needs to work together. What's beneficial is you can not only do this in the house that you are renting now that you are living in, but you can do this for your short term rentals. So in the same scenario, if you own a property that you're in, you call the mortgage company and say, Hey, this is a short term rental property and I've been doing a short term rental out of it for X number of years. This is how much money we make, and now we're having a really hard time. So help us out. And as a small business owner, there's tons of loans for you. There's tons of different options, and they're gonna want to work with you. Same thing if it's a landlord. Now, if you're renting out to space and landlord obviously knows You have a short term rental out of there and you let them know what's going on. They're going to want to work with you. And maybe, like I said, you can take this and move this scenario from a rental arbitrage into a co hosting environment where you can say, Look, from now on, I'd love to have you as a business partner in this and then give them some options. Everything is negotiable. This is the time for you to shine and practice your negotiating skills. And I would definitely practice on my spouse before I've made some calls. You know, know what you want, what your optimal outcome would be and write that down. And then that's what you're going to go for, really, really know what you want and know what you can afford at home. People are going to start cutting their cable bills and cutting out all these expenses that they had, you know, Maybe they had gym memberships. Or maybe they were renting equipment that was hundreds of dollars a month. They're gonna want to cut all those expenses out because they have to make up weeks of no income being earned, and that's hard. That's difficult, but it totally can be done. Like I said during the Great Depression, when we had everything crash, it recovered. Even in 2008 everything recovers. You just have to be patient and don't freak out. Never be the one who is living in fear. You never want to act out of fear because smart decisions don't come when you're acting out of fear. Now, in your short term rentals, what are some of the things that you can d'oh to tighten your belt while you can lower your prices and a lot of people are gonna be doing that Lower your price is your nightly rates. Start running specials start calling people up and making deals. I mean, this is the time where you used that email list we talked about. You call up your former guests and let them know that you're running specials and give them some great deals to come down and stay with you and to book through you personally, not just book through Airbnb. So these air people who have stayed with you before This is your email list that you've built and hopefully you've built a relationship with these people, but these are the ones you're going to contact. You can also contact current guests, and you can offer them to extend their stays either before or after extend more days and give them really great rates on it. And if they go to cancel, where you going to D'oh, Give them a special right. Hey, if you don't cancel, I can lower your rate by this much because right now they're going to want to look for a few things. They're gonna want to find the lowest prices because they're looking for deals. Anyone traveling right now, they're just looking for a ton of deals because travel is super cheap and it's going to be super cheap. Travel is not going to be like the heydays we had in the recent past. We're gonna have to come back from that. And there's gonna be some days of struggle coming up, which means we're gonna have lower prices and we're gonna have a lot of competition, right? So we're going to be competing with others. We want to have a better property and absolutely still be not the lowest price, but definitely keep our price is lower than we used to have them. You're going to see prices slashed across the board. So even if you're keeping your price is high, they're probably going to be lower than they used to be. You're going to start marketing a lot more. So even if you were only on one platform before, you're gonna be on multiple platforms and some nontraditional platforms as well, you're gonna want to get the word out that you have these places and market market market. You're gonna want to do as much work as you can yourself on your place. So if your house is close to you, maybe you want to clean. Or maybe you want to have your kids clean for you, right? A CZ, long as they're older kids and they can follow some instructions and they're pretty good at it because now are cleaning regimen is gonna be a lot more stringent. We're also going to have in our listings a checklist that we use to clean our properties toe, allow people to feel good when they book with us, knowing that we go through a process of cleaning that keeps them safe. So we're gonna have a lot of stuff devoted to that. If you listen to last week's episode, you'll know that we also are going to be putting things inside of her listening. Sze, in our titles were going to make people feel comfortable, right, But we're going to start focusing not just on our short term rental people but on others with longer stays. Who is traveling now? Start asking yourself, Who are the travelers? Who are the people who will be renting from me right now? And there's a lot of people who are going to be renting there like the traveling nurses, right, the traveling doctors, people traveling for business or people who are stranded kids who are out of school. This is really good for those of us who have properties in areas where there are universities. They closed down the universities and a lot of dorms kick these kids out. So the kids were basically stranded. Where the heck were they supposed to go? They couldn't stand the dorms and they couldn't get on their plane and travel home, so a lot of them were saying with friends and stuff. But now they're going to start looking for other places. So start thinking about who are the people that we are marketing to and how can we get a hold of him? Where will we find them? What kind of social media groups would they be in? Where can you and I get in touch with the people who are looking for a place to stay right now? And that is where you're going to spend your time marketing? Remember, guys, just get your butts out there and do the work because this is going to be like when we first got in the business and we couldn't market enough for we couldn't find enough people to buy homes from right. How did we do it? We were everywhere. We had posters inside supermarkets, and we had flyers that we put out we when everywhere, and did everything. And that's what you're going to do now. To get your place is rented out and you have to do it quickly because you have to be above this trend. People are going to start to panic, and when they do that market, especially the long term market, it's going to be flooded, and it's going to be flooded and bring those rents down. So if you're thinking of going into a long term rent where you're just like hell, for the next year, I'm just gonna rent it out at a monthly rate. Do that now, if you think that's even an option, if you're too scared to hold out, and that's okay, because, honestly, playing it safe doesn't freak me out. I'm a play it safe kind of person, so I don't mind you doing that. But what I'm saying is right now, if the runs in your area for your property are 1100 a month in another month or two, they might be 900 a month and go down to 800 a month. Do you understand what I'm saying? So if you're looking for a renter, look now and get those leases signed up. But then you're gonna have to store all that furniture and get all that stuff done. You sure don't want to leave all your furniture in your place to a long term renter. It's not a good idea. It will be worn out at the end of a year if you do it to a long term renters, especially if you're in an area like a university or college, these college kids will just tear your friends your part. So you're gonna have to store it in your garage or something. I guess there's a lot of people to who are going into self quarantining, right? So maybe they've got a family and they've gotten sick and they don't want to be a rather kids to make sure their kids don't get it. So you can self quarantine to them whatever and whomever you're thinking of marketing to make sure that you have a way of reaching those type of people, putting that stuff in your listing or in your titles because those are the key words that are going to be pulled up. So use those. So we're not just going to end up lowering our rates. Most likely, we're gonna have to change a lot of stuff that we usually d'oh. So a lot of people right now I've been on the boards and watching everyone. Some of them are things that we would not usually recommend, so this is not stuff to write down and go. This is the Bible, and we're going to do this all the time. No, this is only for this special time. So only for this special time would we lower our rates. And on Lee for this special time, would we lower our minimum nights day? Lowering our steak can get us more bookings right now and eliminating deposits and also changing our cancellation policy. Uh, hate that one. But honestly, people are looking for things that they can cancel, and something is better than nothing. What did they say? A bird in the hand is worth two in the bush. So if we can get somebody into our place rather than have our place empty Airbnb offers a feature now that allows people to look for properties with lenient cancellation policies. So they're looking for lenient cancellation policies because travel is being cancelled. Left and right. We were actually getting ready to go to Hawaii this week. So this ball, we planned our trip to Hawaii in April, and here it is, coming up on the day that we would be leaving and we would have two weeks. And why it? Guess what? Hawaiian Air canceled the reservations, and the hotels are canceling left and right. And obviously we're getting our money back. But those things didn't cancel until just recently. So the airlines just recently sent us an email and if we couldn't cancel our B and B, it would totally suck. So if we were to not have our hotel cancel and we still had our air right now, I'd be looking for a B and B. But you Kenbrell, you're sweet. But I would be looking for a B and B that would have an easy cancellation policy just in case my airline canceled because you just can't do it. You know, you just can't take that chance when you're traveling that you're gonna lose all that money. So the travelers who are out there yeah, they're looking for deals, but they're also looking for things that they can cancel. So changing your cancellation policy is absolutely necessary right now and something that we should all d'oh! So we're gonna have to be more flexible on all of our policies, right? Our minimum night stays a refund. Policies are deposits. Everything that we d'oh now, Airbnb and a lot of other platforms are also canceling right now, their shared spaces. So if you have a shared space Let's say you have a room in your house that you're doing. You have to make sure that you can isolate it away from everybody or it will be taken down from Airbnb at this moment. So if you have a room that is usually a shared space, if it has its own separate entrance, then you can put a microwave in there and maybe a little mini fridge. That would be the only time I would spend a little bit of extra money and make it like a little mini suite. And that way you can keep it up and running as its own unit as a single unit, because anything that's a shared unit is going to be pulled right now. So you can't have a home that has two or three bedrooms that you offer up individually. Everything has to be offered together. One thing. One unit. So no more shared spaces, okay, and that's pretty much on Airbnb. Like I said, that couple of platforms just know your platforms or where you're listening. If you still want to do that, you can. But here's the deal. People are scared right now, so they don't want those spaces. They don't want to be in contact with people that they don't know and don't trust. They don't know how clean you are. So shared spaces aren't going to rent out right now. Maybe one or two people might do it, but not very many. So you're gonna want to change your shared spaces into individual units that you can offer the entire unit by itself and make it a stand alone place. Now, we talked about this last week. We talked about adding photos of your cleaning supplies and you're cleaning company, you know, cleaning everything up on what you're doing. Make sure you're doing that. Make sure you're offering a list off all the extra precautions you're taking. When it comes to cleaning and sanitizing your place, make sure you're putting those extra pictures in there. You want to make people feel safe. That's the only way you're gonna market market. Market the crap out of your place being safe. Okay, modify your listings so that people know that they are going into a safe place, that it's a good place to do social distancing. Describe all the ways you're cleaning, and if you're using special air filters or whatever you're using. Describe all of that so people feel safe. You can even offer service is to people's so that you can have food delivered to them. So let's see your person is there, and even if they're not a traveling nurse, let's say they're a student or something. Let's just say that you offer to have groceries delivered every two days or every three days, and you can set that up right there inside. You're listening. You can also set up having the pantry fully stocked when they get there and let them know that you're more than willing to go above and beyond all of that for them. So this is a great time for you to step up and make a little bit of extra money, too, doing those extra steps. So putting your money where it matters most means putting your money into things that are going to make you more money, which is like finding more properties right? Right now we are looking everywhere for the deals were looking for people who are freaking out and want thio get rid of their properties, and we're looking for those who are willing to make a deal. If you're willing to make a deal, we're looking for you. So we've been waiting for this moment. We thought it would come in another way. We sure didn't think it was going to come in the form of a pandemic. But we definitely knew that there was going to be some adjustments. We're going to see a lot of adjustments in the near future. So I don't want you to be afraid to spend money on purchasing properties. Just make sure you do it and negotiate your way so that you've got a few months to get everything up and running, right. And then in the meantime, the properties that you do have tighten your belt on those look for every way you can to save money. Cancel those cables. Make sure that you got a smart TV in there and just offer local channels with one of those five or $10 antennas and Internet. That's all we spend money on. Is the Internet cancel all that extra special stuff? I mean, obviously you need the fast Internet because that's just necessary. But all the extra things that you used to dio cancel those tighten the belt. See what else you could do if you've got a company that charges you Ah, lot for cleaning. Negotiate lower prices for your cleaning. Now is the time to negotiate because people are just happy tohave work and you can say, Look, I can't afford to clean this and I will have to do it myself if I can't get you to go in for a lower amount. So negotiate, negotiate, negotiate. This is the time to re negotiate every contract you have because you are in an industry that is hurting. People, know it, and so they expect it, don't feel bad about doing it, take advantage of that part of it and then take that extra money and pine for properties because this is the time that we need to be looking at properties everywhere. So what are the properties? We just closed down down in Tucson was a cute little 11 and it's adorable. And while we're fixing this up, it's amazing because there's a lot of differences when you're looking at a short term rental and a long term rental. What's really crazy is because of all that's going on. It's kind of scary right, because if it was a long term rental, we wouldn't change the flooring. We might paint it, but we wouldn't change anything else. We would just let it go the way it is. Put a renter and they're in a year just having to go through all the same stuff again, right? But because we're going to put our own furniture in there and it's going to be a short term rental, we know we have to fix it up a little bit more and spend a little bit more money on it. So there are differences that we have to go through. And next week I'm going to talk about those differences, so please stay tuned and we'll talk more about what to look for when you're buying and negotiating on a short term rental property. I'm so looking forward, Thio going more into details about the greed and this is the greed part right when everybody else is fearful. This is when we're greedy. Well, it's not really greedy. It's just looking for the deals, and we're gonna talk more about looking for the deal's next week, and I'm really excited about that. Thank you so much for listening today. I hope you and your family are well over. You guys were wondering my kids they were tested because he had a bunch of sick kids in this house. During the move and my son Nathan and his girlfriend were tested. My daughter was tested. Everybody, man, everybody got sick, right? But it's the springtime, and that's what happens here. Everybody gets sick, but no one had it. Everybody was sick, but no one had it. And ah, thank you for your messages. I do know that there are a couple of people in our group. We did have some people who had family members get it and my condolences to them and our heart goes out to them and hopefully everything will turn out well in the end. God bless you guys, stay safe, Have a great day. Go and grow.