Foreign He also said growing your wealth Requires growing your knowledge there's No better time than today to grow your Knowledge in fact today what we will be Discussing is the hottest Trend in real Estate but one that requires a ton of Knowledge I'm your host Alexandra Gonzaleza in the last episode we did a Crash course on real estate the pros and The cons the importance of cash flow and The different investing strategies Available when you invest in real estate And I'm so excited to introduce you to One of the most creative and successful Millennial investors in real estate Please welcome Jorge Contreras let's go Thank you for having me I'm happy to Have you on the show I know I'm excited To be here I really appreciate the Opportunity thank you and for those who Aren't familiar with your background Jorge you know I've been following you For some time so I know more about your Background where you came from Um but could you give them you know just Your story and and how you even started Um investing yeah absolutely so I Actually started my first business when I was uh 20 and I was actually a Professional dancer I was traveling all Over the world teaching Latin dance Bachata specifically and uh you know Back then I had this belief that working
Hard equals success and I believe that We're always doing things in our lives In order to validate our beliefs to be True so that belief of work hard equal Success the way that translated was Working 14 16 hours a day teaching dance And then it got to the point where right I got a herniated disc in my in my lower Back and my L5 S1 and then I couldn't Dance I couldn't run then I couldn't Walk and then I was just like laid on The floor and I went to the doctor and They did an MRI said I had to get a Surgery the next day and that it would Be a 50 50 chance of me ever walking Again Um so I remember those 24 hours it was Like the longest 24 hours of my life but All I kept thinking about is okay if I Can't walk like how am I going to make Money I need my mut my body to make Money and that's what led me to thinking About passive income and real estate Investing I'm like I gotta find a way to Make money without trading time for Money Um and without using my body so that led Me into into real estate and so that Same year I purchased my first uh piece of real Estate and so I purchased that first House but I didn't know how to go and Get the second the third the fourth the Fifth Property so a few years later uh I
Read I read Rich Dad Poor Dad in uh 2015 And then I actually went to a three-day Seminar and then from there I actually Joined the highest level of Education That rich that offered at the time and Within 18 months I was a part of the Rich Dad team and we were traveling Across the country delivering the Education and then the following year I Became a millionaire all because of Everything that I learned at Rich Dad so It's pretty cool full circle to now Being the Rich Dad uh you know podcast And YouTube here so again that's a Little bit about my story Well I mean and that just goes to show Like with true mentors and like getting Involved and working with what you want To actually you know want to start doing In life and investing in I mean like you Said you became a millionaire and you're Living proof of like what an actual Student of Rich Dad can achieve yeah Yeah it was pretty awesome you know I Had a uh mentors that were already Multi-millionaires and you know I don't Come from a family of entrepreneurs or Investors like most of my family still Today works like making minimum wage or 25 bucks an hour so I had to go out and Find people who had the result that I Wanted and then you know make an invest In it myself and so the best investment You can ever make is in yourself and
Then the second one is real estate I agree and and that was actually I'm Glad you touched on that because that Was something that um I wanted to Personally ask you because I know about Your story I've been following you and I Also read about you know just like your Rough upbringing and everything you've Had to like overcome Um and so you know I'm I'm sure I'm you Know I'm curious many others are Probably curious too of like who was That one person that inspired you to get Into real estate because it's not you Know it's not especially if you're stuck In the nine to five world I don't think It's something very common for people to Just go out and invest in real estate Yeah absolutely what what helped me is Um my last job right before I started my Dance business I worked at Bank of America as a personal banker and at the Time uh we would set up business and Personal checking accounts I learned About llc's corporations all the Different types of business entities Because I was opening up those business Accounts for entrepreneurs and they Would sit with me in this little cubicle So for me that was like like a podcast Before podcasts were a thing because I'm Sitting with these business owners They're talking about the businesses They own all the real estate and so I
Sat down with a lot of Real Estate Investors because at the time we would Also do the loan so if people wanted to Purchase or do a refinance or a home Equity line of credit I was facilitating These these transactions and I would get You know be able to sit with them for One or two hours at a time and learn and Absorb all this information but at the Time you know I thought real estate Investing was like this out of like like Another world Another Universe like it Was very complicated like you needed a Lot of money but that's really what Opened up my eyes that um that I could Do it I'm like like if all these other People are doing it and they're Successful and they're millionaires like Maybe I can do it too but again it Wasn't until I went to that three-day Event that um that Trevor actually broke Down the different strategies you know He talked about residential commercial Flipping wholesaling Property Management All the different things and I was like Oh my God there's so many ways to Actually make money from Real Estate but It was really the rich that training That helped me realize that I could do It myself That's incredible and and you know our Audience is made up of like a lot of new Investors and long-time investors and For some this can be an intimidating
Topic but you're actually the first Person I've heard that really talks About Airbnb Arbitrage and I was can you Just briefly explain what Airbnb Arbitrage is and how how you go about Investing in it yeah so Airbnb Arbitrage Is the process where you rent properties And then use them on the short-term Rental platform now to kind of go back a Little bit I I do believe that Everyone's end goal should be to own the Real estate because that's where you're Going to create long-term wealth it's an Asset that you could pass on to your Family as part of your legacy there's a Lot of tax benefits a lot the cash flow However there's a lot of people there's A bigger pool of people who are not in a Position to go and buy investment Properties and there is people who Actually can so for the audience who is Not yet in a position to go put 20 down On investment properties they can start With average trash and what this Requires is like let's say that Alexandra has a property and she's Looking for a 12-month tenant and then I Reached out to Alexander said hey I'd Love to rent this property to you to you Uh and I'm interested in using utilizing It for my short-term rental business Right uh then I would sign a 12-month Lease I would pay the first month the Rent and then the furniture and the idea
Here is to be able to generate double uh What I'm paying a rent on Airbnb so if I'm paying Alexandria say 3 000 a month My goal is to make 6 000 a month and This is strictly a cash flow play now Who is this good for for those who want To replace your nine to five And start their own business like I said The the barrier to entry is much lower You start to get experience because now You're like you got to hire people to Clean to do maintenance so you're also Building these entrepreneurship skills That then you can take into the Ownership or even into other types of Businesses but that is essentially how It work how it works is you're renting Property getting permission and writing To use it as a short-term rental and Then launching it as an Airbnb And now you're on mute just so you know Yeah I think yeah I just realized thank You and Um what inspired you to start this Untraditional way of like investing Because like you said I mean maybe at That time you didn't have enough money For the down payment But what got you thinking hey this is Another Avenue that I could do it maybe Like house hacking kind of way Yeah so like like I said I actually Started the other way right so when I Started buying real estate in 2012 I
Didn't start my Airbnb business until 2017. so all the first four units that I Launched in March of 2017 were Properties that I already owned and that Year I basically replaced you know my Income from the dance business with my Airbnbs and I no longer needed to do my My job of the dancing right I was able To go all in on real estate but then the The the good thing is I was out of the Rat Race but my wife was still stuck in The Rivalry so I'm like man I need to Get her out of the Rat Race but it's Going to take you know two to three Airbnbs and I don't have 20 times three Properties you're talking like probably Half a million dollars to invest and That's when I discovered Arbitrage and I'm like oh wow I could make the same Amount of profit just by controlling the Asset without owning it and that's why I Went all in subleasing because I wanted To quickly replace my wife's nine to Five and then now we're back to you know Purchasing but a lot of my students that That want to get started most of them Are starting with subleasing as like Phase one once they have three and they Replace your nine to five then they go Into the purchase strategies Okay and so basically what you've also Taught your students because I know you Have like a whole course dedicated to This and this is what you're always
Talking about Um on social media and so would you Recommend that they keep their nine to Five build up the capital to pay for Those startup costs like you were Talking about with like first month's Deposit you know your furniture that you Need to furnish this rental property Um and all the other startup costs that Pertain to this kind of style of Investing yeah yeah I would recommend For them to keep their nine to five Until they are able to pay their monthly Living expenses right so like I know um Through the Rich Dad terminology you're Out of the rat race when your passive Income meets or exceeds your your uh Your expenses so if your monthly Expenses are 5 000 a month well once you Start making 5 000 a month from airbnbs Then it's like cool now you don't really Need your job and then if you think About it where you put those 40 to 60 Hours a week that you were putting into Your nine to five now into your Airbnb Business like then you just go to a Whole other level so I do recommend for People to keep their nine to five until Again their their their covered they're Covering their monthly living expenses And they no longer need it yeah and on Average like based off of the properties Um just so that anyone in our audience That would be interested in how much
Like startup um I guess capitals do you Think you would need in order to to Start in this industry I always tell People like on the low end 10 000 on the High end 30 000 and the reason there's Such a big range is some people might Start with like a one bedroom Studio Whereas other people might start with Like a five bedroom you know Villa or Something in a really hot you know Vacation destination but on the low end 10 and that includes first month deposit And the furniture Okay and and you know something that Pops into my head is like for example First time investor right that's kind of Fearful of the strategy Um let's say they're able to accumulate The 10 grand right Um to start off with something small Like we've always preached here at Rich At Rich Dad Um so they have enough to cover their You know their first month last month Furnish cleaning team whatever Um what would you say to help them get Over that fear especially because what Probably comes to mind with a lot of These people is what if it doesn't get Rented and so now they have to cough up Their own rent plus the one or two Months of vacancy yeah absolutely and There's two things um well I guess the Solution is the same right but there's
Two things that could go wrong in the Business uh and we always want to think Of the best case scenarios like hey what Happens if it works out really good and Then what happens if it doesn't work out But the two worst things that can happen Uh number one is let's say you're not It's not renting and you're not able to Cover the rent and now you gotta come Out of pocket if after a couple months That say that was to happen obviously There's a lot of ways to avoid that Before you're getting started that's why Having the right roadmap the right a Proven system is important but if Someone's doing it and they're in a Position right now where they're losing A couple hundred dollars a month in cash Flow We always rent the properties at fair Market rent so whatever somebody else Would pay to live there we would pay to Use it for Airbnb so if you're losing a Couple hundred dollars a month of rent All you have to do is put it back on the Market to attract a long-term tenant on The 12-month lease and you're going to Break even right and then at the end of The lease you can collect your deposit And then walk away that's really the Worst that could happen again if there There's a shortage of housing right Still even even even today especially For renters so it shouldn't be difficult
To get a long-term tenant in there Unless you're like renting in a really Bad area which I would have stayed away From anyway Um so that that's my response to that is Just break even collect your deposit at The end of the lease and walk away Yeah and that's something it's Especially crucial for anyone who's Getting into this you know what we Preach here at rich dad is always start Small but then always have your exit Strategy right like how do you get out Of the deal if you can't you know cough Up the two months and so being able to You know price it at the at the at the Market price and find a long-term tenant That's an amazing extra strategy and Would give peace of mind to anyone who's Fearful of jumping into this investment Yeah but just to kind of add a little Bit right I want to share like what's The solution to avoid that because you Don't want to put yourself in that Situation so what I would recommend is There's two softwares that we use uh air DNA and mass visor and these softwares Allow you to look at the existing Performance of short-term rentals Anywhere in the world right so you can Look at the revenue the occupancy and if You see that there's three other Properties already making say like seven Thousand a month and you can rent a
Similar property for like 3 000 a month Then you know it's a no-brainer it's Very unlikely that you're gonna like Lose money on the other hand if you see That hey all the properties are making Three to four grand in Revenue but your Rent is three thousand then there isn't Enough margin and and you want to avoid Those places so that just wanted to Throw that in there no that's that's an Incredible resource and you know we'll Be linking the resources to everything In the description as well as you know Uh where they can find you your website Your course Um because I think it'll be beneficial For everyone in the audience and Um you know I want to get into some of The details because it's clearly a Fascinating topic as you know also you Know I own an Airbnb and so I'll be Picking your brain and taking advantage Absolutely Thank you and how do you go about go About finding a good deal initially like What's what are your key pillars your Strategies to find that good deal and Like you said to avoid any of these Issues in the first place absolutely so So a couple things the number one thing That we want to do is look into the Regulation because even if properties Low look like it has a lot of potential If you're not allowed to operate if you
Kind of can get a permit then it doesn't Make sense either way so the number one Thing is call the building department in That city which you can just Google like Building department in the city of the Phone number is going to pop up and then You call them and ask them what their Short-term rental regulation is and Ideally you want to stick to areas where You can get a permit where there is Already regulation that's going to be The best place to go uh step two is Using those softwares to determine if You can make double or more whatever Your rent or mortgage payment amount is Going to be Um and then the other thing that I look For is I go for typically I go for Single family homes that are three Bedrooms two bathrooms minimum 1100 Square feet and I definitely want the Property to have a pool and a game room Area and the reason for that is we want To be able to create a staycation Experience where people can have a great Time in the home without needing to Leave the home right because because When you think about it there's two Reasons people book short-term rentals One is they might be going to like the Rich data conference right and there's An Airbnb three minutes away and they're Like oh that's convenient let me book This property and then it's just a three
Minute Uber but the other reason people Book it is to have an experience in the Home without actually needing to go Anywhere and so if you can get a Property that again you can create that Staycation experience it's got three Bedrooms two bath minimum 1100 square Feet now you could host eight to twelve People there charge a higher nightly Rate create a a great experience with The pool the game room and if you could Be close in proximity to the downtown Where the conferences and everything Happens then you'll be like in the top You know two three percent of Airbnb Host Um you know in your area and those are Some of the metrics that that I look for Yeah and how do you and how do you for Example once you have like the ideal Location How do you convince the landlord To to you know let you rent like do this Airbnb Arbitrage because I I imagine or You know your sales can skills must come In but Um how do you convince them because some Might be intimidated like I can't rely On you you'll trash my apartment so far So on and so forth well you know the Great thing is you know that because we Live in in the U.S and contracts here Are you know they give us layers of Protection so it's different if you
Didn't sign a contract but when you sign A contract and you put it in writing Like hey I'm gonna make sure that we Know we respect you know your your Neighbor the neighbors and we maintain a Great relationship with them if there's Any type of repairs that need to be done In the home that were caused by our Guests like I'm gonna be responsible and By the way I'm gonna set up the property On auto Pace that they get paid not just On time but even days early and then on Top of that right they're going to do a Credit check a background check and Income verification so you know I'm sure You've heard of that saying that says How you do anything is how you do Everything so if you apply for you know A rental even if if you were going to Live there and you have really bad Credit your background check is not Clean they're not going to rent to you Anyway but if somebody comes and they Have strong credit score a strong strong Financials there's no reason why they Wouldn't want to have you as a tenant Like I have personally been to um To properties where there's 10 people That are all looking at the property at The same time and I'm the only one there That's not going to live there but the Landlord chose me why my credit my Financials my credibility they just felt Like they could trust me and and I they
Feel like I was the strongest tenant Even though I wasn't the one that was Going to be living there now of course You're going to have some landlords that No matter what they don't want to you Know do short-term rentals and that's Totally fine just like any business it's Going to be a numbers game uh it's just About you know presenting yourself in a Professional manner and creating a Win-win relationship Yeah and and for example how do you how Are you seeing the market right now Because I know that there's it's a Strong you know rental Um Market people are looking for for Somewhere to rent rents have skyrocketed In many areas you know Florida Arizona All these growing areas Um but for example A lot of people are Talking about recession tourism dying Down you know less people will be Traveling so how do you again how do you Go about you know preventing that if Tourism does decrease do you do you then Go straight to long term like you were Mentioning yeah it's a good point and Toram has decreased right like overall Um we're seeing less bookings now than We saw like six months ago but like We're still profitable so like instead Of making two or three grand it might be Like 1200 1800 of cash flow but I I'm a Big believer in the way we set up our
Airbnbs that we are actually providing An alternative solution to expensive Traveling because you know before Airbnb When people wanted to try Bible they Would automatically think getting on an Airplane so now they got to pay Airlines And you know Uber fees or or airport Fees and then they got to go stay at a Hotel but now you can still have an you Can still have a vacation without Getting on a plane but you can find uh An amazing Airbnb in your city that you Could just drive to and you could like Literally have instacart deliver Groceries and eat at home and your Vacation will be like a third or a Fourth of the cost and again getting on A plane and going to like an All-inclusive resort so I feel that Airbnbs if they're set up correctly can Actually be a solution to the problem of People spending less money or not having You know as much money to to go out There and spend and Um for example you were mentioning how You rely on like these softwares to be Able to dictate what pricing you want to Put on the apartment or on the unit Um what would you I guess do you have a Formula as well apart from using these Um these softwares do you have a formula To in order to predict you know how you Can price them profitability ensuring That you're about to purchase or rent
Um an area that's going to be profitable Yes as far as uh as far as pricing what I like to do is I want to break even at 10 days and so if I'm paying a rent of Three grand for like a single family Home with a pool in a game room Um and again that's why the model Works Going for a 3-2 that's I always say a Minimum of 1100 square feet but of Course the more square footage the Better so like a lot of my properties Have like 1500 to like 2500 and by Having three or four bedrooms uh two or Three bathrooms I can comfortably host Say 10 people and justify a 300 or not You know nightly rate which for 10 People that's a pretty good deal so now By charging 300 a night I can break even And cover my rent at 10 days and then Double my rent at 20 which is only 66 Occupancy and on their really good month In the High season I I will triple my Rent and bring in like nine grand or Even more so and so that I call that the 10 20 30 model I love it I love it and and to to Determine your daily rate what's like How do you how do you calculate it so The way I determine my daily rate is I Take my desired Um I I take my my rent or mortgage Amount in this case three thousand I Doubled it right that would give me six Thousand and then I divided by 20. so
It's 300 bucks okay okay and Um what you know what areas have you Been seeing lately that are good areas To invest in I know Florida and Arizona Has talked about but any other area yeah I mean uh honestly when you think of Some of the the bigger States where There's a lot of population right you Look at Florida uh Arizona Texas California like these are four really Strong markets just because you know Again there's a large population there's A lot of Tourism and theme parks or Beaches there's just something always Going on and they're like four of the You know more pop popular states so Those are like my my top four states Where myself or like students are Operating okay and again we've talked a Lot about you know the behind The rate Um the formulas but now that we jump Into your airing your your property onto Airbnb right Um how do you I guess stay on Airbnb Side Um increase your chances of getting Suggested by the algorithm and just keep Your guests happy like what's the Formula behind that Well the number one thing is is getting As many five-star reviews so that you Can get to Super host status right like Personally uh when I stay at airbnb's I
Like there's a filter where you click Super hose and that means you're only Going to be showing people who average 4.8 or higher personally I don't even Want to look at the ones that get four Stars because why would I want to pay to Stay at an Airbnb where I'm going to Have a bad experience so I would say Make it your goal to get to Super hosts As fast as possible uh those listings Are promoted more uh they can charge More and of course they're going to have More bookings because you're going to Have a great experience it would be like Oh I want to stay at a hotel but it's Like why would you you know choose the Crappy Hotel over a great hotel if money Is not an issue wow and so there's like Six categories that in which each guest Is going to leave you a review but the Main two are cleaning and communication So I would you know highly recommend for The the cleaner I always have them to Send me pictures on WhatsApp or a slack Group after each and every time that They clean just for like accountability Purposes and to make sure they're doing A great job and then also responding to All inquiries like as fast as possible Like if you can do it in under 20 Minutes respond to each and every Inquiry Airbnb also looks at that they Also look at the the how frequently you Log into the app because they're
Promoting listings where the hosts are Very active logging in communicating uh You know in a in a thorough Manner and In a timely manner those are just a few Of the things that are that are going to Help for sure to help the algorithm Boost you and to give you more Visibility you had a second part to the Question what was it Um the second part uh I know I was we Were talking about like the reviews Increasing that how to make sure no I Think you answered it because it was how To make sure your guests were you know We're happy with their stay as well Um but I guess like for example let's Say you do like the cleaning and things Like that I know it's not always easy to Get people to leave a review do you have Like a tactic because because even for My Airbnb you know from personal Experience I you know I do struggle with Getting people to leave a review and and The reviews have been you know the place Is spotless it's clean it's cozy but I I Wish every person would leave a review Yeah that's a great question so one of The things that we do right is right After they check out we'll send them a Message and we'll say like hey Alexandra Thank you so much for staying at our Property Um you know we're in the process of Building up this unit and we would
Really appreciate a review to help us Attract more great guests like yourself And sometimes that's going to get it but I have my VA automatically send that Message to each and every guest after They check out and if they don't I mean Mean something that I used to do when I Was managing myself I would actually Call them I would say like hey Alexandra Just wanted to make sure you know how Was your experience it was great awesome And then I would tell them what I just Messaged you know what we would send Through the message hey would you be Able to leave me a review by any chance It just takes like 30 seconds and again That's gonna increase uh the amount of People that leave a review because yeah Those reviews are like super important Right if you don't get those reviews You're not going to get to Super host That it's like you have to get 10 Reviews within a three month period in Order to be to qualify to be a super Host Okay and and would you say like because I know that some people talk about when You first launched the Airbnb there's Like an adjusting period or like you Know at least three months to get it Optimized do you have you seen that in Your experience or is that just yeah I Don't think it's like three months I Mean it might be more like 30 days to
Just optimize but Um you know one of the things that also This just that does help is as soon as You launch your listing Airbnb will give You uh an opportunity for them to Promote your listing if you offer like a 20 for like the first three bookings and That helps a lot because they again they Promote like hey there's a new listing In this area and it's 20 off and so That's going to attract also uh you know More bookings but yeah I think it'll be About 30 days in order to optimize uh Internally and even on the platform Because number no matter how much you Prepared and I'm sure you experience This with your Airbnb but those one or Two first guests there's always things That like you forget even no matter how Many properties you launch even if you Have a checklist like every property is Unique and individual so there's always Going to be like things and yeah it's Going to be about 30 days to get it Optimized okay okay great and you know One big question is you you're talking You have your your VA and just for me Following you I know you have a team Behind all this Um but what would you say like how how Do you scale or automate this Airbnb Business so you can go and if someone Wants to be like Jorge like have 10 Properties
Yeah well I would say the first thing is It requires like a mindset change right Now for me and the Rich Dad the Strategies and everything I Learned was Was great but the biggest thing that I Got in the mentorship was like switching My mindset because I used to have that Dave Ramsey mentality of like pay down My house and then when Rich Dad my Mentor was like why would you do that You're still going to be stuck in the Rat race you need to do a refi cash out Pull out all this equity and go get more And I was like and so that was like the Switch and so the switch here is that You have to realize that the only way to Truly grow a business is to work on the Business and not in the business right So like a lot of entrepreneurs talk About this but there's a great book Called e-myth Revisited and it talks About the three levels of Entrepreneurship and the first level is The technician then the manager and then The entrepreneur and the technician they Do all the work so when you're a Technician and you have an Airbnb you do The cleaning you do the maintenance you Do the communication and typically it's Because they have two limiting beliefs Right the one that rich dad says is if I Wanted done right I have to do it myself But then the second one is if I do it Myself I'll keep more money but those
Two limiting beliefs keep you from Growing so then when you ascend from There to the manager now you're the Manager and you hire three technicians Somebody to do cleaning someone to do Maintenance and someone to do Communications now you have some Leverage Because you're not doing those things Yourself and you can actually acquire More units and then the third and Highest levels you become the Entrepreneur also known as a Visionary Where now you hire a manager who manages The technicians that's where you're Working on the business and not in the Business and by by becoming a manager And then a Visionary now instead of Cleaning and doing those things yourself You're out looking for your next Property you know whether it's with your Own money or doing Partnerships or JVS Or private money but you're basically Focusing on Acquisitions because that's Ultimately like the life the the blood Life the blood of like the business it's Like the oxygen that's going to keep the Business alive and growing and thriving And like you were mentioning you know Rich I would say your team is more Important than money so yeah you might Be a little bit less profitable but your Team essentially will allow you to grow And so in this Airbnb business
Um who do you think are the most Important people on your team who are Your Muslims and how did you even find Them Yeah so so you need the most important Person is going to be the person who Cleans it that is by far the most Important person on your team and then Uh and then the other two are somebody To do the maintenance like little Repairs from time to time if there's a Leak and then someone to do the Communications the good thing is the Person who does the communications can Be you at the beginning so you can get The hang of it understand the business The communications but then after a While you want to delegate it to like a Virtual assistant in Mexico or Latin America that can is in a similar time Zone and by the way you can hire them on A website called upwork.com you'll find Va's there that actually have experience Already they might have more experience And when you're just getting started Because they might have they might be Managing for one or two years you know 10 or 20 properties Um but the only two people that ever Need to be there in person is whoever Cleans it and uh whoever does Maintenance and that's how you're going To start to grow and scale and those are The three most important people um at
The beginning okay and would you say Like you know let's say say you know I'm In Florida and I want to buy I'm putting A hypothetical situation even though This is kind of my situation but Um let's say I'm in Florida and I say Hey there's a great investment Opportunity in you know Scottsdale Arizona do you think it's okay for a Beginner to be able to buy something but Being a completely different area Absolutely as long as they have what We're always calling Real Estate right Like boots on the ground and uh I've Done it and I've had students that have Done it in different states different Cities and even different countries as Long as you have a reliable trustworthy Person there that is doing everything That requires someone in person then That replaces you from like having to be There Um like I had this one Airbnb in San Diego for over three years that I like Never ever saw I basically paid a local Real estate agent Um some money to basically find it to Furnish it to launch it and then my team Continued with the management after that But I never saw the property I just Found someone reliable who had Experience and paid them to do all the Things that would require me to do yeah That's incredible and
Um Jorge you know for for I know we're reaching our time limit but I'm I'm probably contact you after this so You can give me some of your tips but Yes viewers out there Um do you have any final words for them If they're even thinking about getting Started in this in this industry yeah I Would say to to just get started right If there was one thing that I could have Done when I got started is just take the Brakes off take the my foot off the Brakes and just get started sooner Um like in real estate we always say That a hundred percent of the people That never do their first deal never do Their second deal and the second thing Is really focus on progress not Perfection I think too many people uh Want everything to come out perfect when In fact perfect like you know doesn't Exist and even if you don't have the Money like Robert Kiyosaki got his first Property with a credit card in Hawaii Right and so if you don't have the Credit just ask yourself well who has The credit or how can I do it without my Credit if you don't have the money ask Yourself who's got the money the most Important thing is getting started and Then just pivoting as necessary and not Only that but we're already in the Recession right since July and we're
About to experience the biggest wealth Transfer in U.S history and I believe That during the recession or after the Recession there's going to be winners And then there's going to be losers and I believe that the difference is going To be the skills because if you don't Have the skills you wouldn't be able to Recognize an opportunity if it hit you In the face so whatever it is whether It's Airbnb or any type of strategies Just start educating yourself you know Like there's podcasts YouTube channels Like this one and just find a mentor who Has the results that you want and just Start learning from them so that you can Go bigger and faster yeah and like we Always say you know it's not don't say I Can't afford to ask yourself Exactly because it opens up it opens Your mind up to find the answer as Opposed to saying a statement just Closing your mind so absolutely so yeah How can I afford it thank you so much Jorge for walking us through all these Essential steps of launching your first Airbnb and to any Millennials I'm Interested in learning more and getting Started with your first Arbitrage Um where he offers several resources and Courses that are amazing so we'll be Adding them all to the link in the Description and you know I hope we keep Growing together Jorge I'm excited for
Anything interested in your master class Absolutely so many students change so Many lives so thank you for what you're Doing as well yeah thank you for the Opportunity and uh yeah let's keep Changing lives and helping more people Create Financial Freedom thanks for Having me on I appreciate it thank you Jorge to all the Millennials keep Fighting for your Financial Freedom see You guys next time
