How to Make Money with Rental Arbitrage in the Room Rental Business

Can you build a profitable room rental business without owning real estate? In this episode of the Coliving Investing Podcast, Ashley Jeffers sits down with real estate investor and acquisitions specialist Carolyn Clarke to discuss how rental arbitrage is creating opportunities for aspiring co-living and room rental operators.

Carolyn shares insights on how investors are finding rental arbitrage deals, building relationships with landlords, and creating cash flow through room rentals and co-living strategies.

In this episode, we cover:

• What rental arbitrage is and how it works
• How to generate cash flow without buying property
• Strategies for finding profitable room rental opportunities
• How to approach landlords and property owners
• Common mistakes new operators should avoid
• Tips for scaling a co-living business faster

Whether you’re a beginner looking to get started in room rentals or an experienced investor exploring creative real estate strategies, this episode is packed with actionable insights.

🎧 Subscribe to the Coliving Investing Podcast for more interviews, strategies, and real-world conversations about co-living, room rentals, and creative real estate investing.

Need mentorship? Book a call here: https://www.roomrentalprofits.com/real-estate-passive-income-strategy

Follow me on IG: www.instagram.com/ashthepreneur

Contact Carolyn via email hello@nustaysliving.com

Transcript

SPEAKER_01 0:00

Welcome to another episode of the Co-Living Investing Podcast. I am your host, Ashley Jeffers, and I am excited about this conversation. Have a very special guest with us on this episode. Meet Carolyn Clark. Carolyn, welcome to the podcast. Thank you, Ashley. I'm glad to be here. I'm glad to have you. Carolyn has a wealth of knowledge when it comes to so many different things. I am excited to kind of delve into one unique aspect of your uh of your business and what you do, but I'm gonna hold off on that for just a moment. I want to start with your journey into real estate investing. Where did you start? Like, why did you start? What was your first real estate investing transaction?

SPEAKER_00 0:42

So let's take it back a couple years. Okay. So during right a little before COVID, I'm I was working in banking up until recently. And I wanted to, I actually listened to this to a podcast where a young lady was talking about um short-term rentals. Okay. And I'm like, hmm, that sounds interesting. So I'm a researcher. So once I started researching a little bit, I'm like, well, that's something I could do with a nine to five. Let me kind of see what that looks like. So I did, and that's how I got into short-term rentals. I was like maybe 2019. Okay. And then, you know, when COVID hit, so um, that caused a little bit of a downward spiral, so to speak, like as far as people traveling. Okay. So I had always been interested in uh real estate as far as like fixing and flipping bird strategy, but I just wasn't sure which lane I belonged in. Yeah. So I started getting more into fixing flips, and then I had purchased my first property in Baltimore. Okay. And my second one in Baltimore. Um, the first one I just kind of wholesaled and got out. The second one I fixed up and sold. This is why you were living here in Charlotte? In Charlotte, yeah.

SPEAKER_01 2:04

Okay. And I moved to Charlotte in 2018. You did a fix and flip from another state. I don't suggest. Do tell.

SPEAKER_00 2:15

I don't suggest anyone do it, especially without a team, in a difficult market. Baltimore's a difficult market.

SPEAKER_01 2:27

How'd you find the deal?

SPEAKER_00 2:29

I found it through a wholesaler. Okay. Um, and you know, then everything was online pretty much because it was during COVID. That's another thing, it was during COVID. Yeah. So it's like I couldn't hop on a plane and go down when I wanted to. Nope. So it was like a five and a half hour drive. Did you make that drive? Yeah, I did. Multiple times. Multiple times.

unknown 2:50

Wow.

SPEAKER_00 2:51

Multiple times. Yeah. So after that, I decided when I sold it, I said, you know, I think I'm gonna stay with in Charlotte.

SPEAKER_01 2:57

Probably a good call. Probably a good decision to make. Because so I can only imagine the drives alone. Like how much time out of your life were you on the registers behind one property?

SPEAKER_00 3:11

I just do things and I'm like, ooh. And I did all the research, you know. I had contractors, but you know, um, and some real estate people, but it's different when you can't go 20 minutes away. Right. Right. And for my first one, I don't first one. I think I yeah, I might have if I had to do it over again, I probably would have stayed more local. But it was every lesson is a learning lesson, it's a teaching moment. Yeah. So I learned a lot. I learned a lot.

SPEAKER_01 3:43

And you get to hold on to those lessons to this day. Yes. And and reflect on that experience to know what not to do. Absolutely. I would have suggested. Wow, one of the toughest markets is a tough market. Another state. Yeah. It must have been a heck of a deal.

SPEAKER_00 4:03

Like it was contractors. Ate up all your profit margin, I'm assuming. Well, the first one I hold sale because it's just gonna be too much. Yeah. The second one, it ended up still being a good deal, but it could have been a better deal with different contractors. Yeah. But, you know, that's a part of real estate. It really is. So when people say to me, Oh, I want to fix and flip, I'm like, You sure? You you sure you want to do that? Sure. Do you want to burr? Maybe maybe buy and hold in like a lesser market than Charlotte, you know, like maybe a Cleveland or Columbus, Ohio.

SPEAKER_01 4:36

Yeah, the problem is HGTV.

SPEAKER_00 4:39

Yeah. Has people thinking that fix and flip is the way to go? Social media. Yeah. Yeah. It's it's nothing like HGTV. Right. I'm sure we know it's nothing like HGTV.

SPEAKER_01 4:50

But you can't tell people that until they experience it themselves.

SPEAKER_00 4:53

And once you do, then you have to decide is this do I want to not exit real estate, but do I want to change direction? Because there's so many different avenues in real estate. Yeah, that is a good thing about it. It doesn't have to be just a fix and flip. That's right. You know, there's so many different things.

SPEAKER_01 5:09

So we're in 2019. We start with short-term rentals.

SPEAKER_00 5:13

Short-term rentals.

SPEAKER_01 5:14

And then we dabbled a little bit into out of state fix and flips.

SPEAKER_00 5:17

And I was still doing the rentals when I was doing the fix and flips. Okay. I don't know if I mentioned that part. No, you didn't. Yeah, so I had a nine to five in banking. Yeah. I was doing short-term rentals. So by then I had four. Uh-huh. And I was doing fix and flips. And you was doing fix and flips. Because you just didn't.

SPEAKER_01 5:30

Because I just, I just were bored.

SPEAKER_00 5:33

You didn't have enough to do it. I'm so excessive. Yeah. So yeah. Yeah, I was busy.

SPEAKER_01 5:41

I bet. Yeah. Probably stretched too thin.

SPEAKER_00 5:44

Yes, absolutely. And systems weren't as how they are now. Right. AI wasn't how it is now. Not a thing at all back then. No, so yeah.

SPEAKER_01 5:54

So coming out of a time where you are balancing so much, what was the next? I'm afraid to ask. What was the next step?

SPEAKER_00 6:07

Into Charlotte instead of out of state. So I started fixing it, flipping in Charlotte, which was going well. That helped. Until the economy changed. What year was this? 20. Right after COVID. So I said 23? 23? Was that 23? When the I blocked it out. Trauma, you usually do that, you know, when there's trauma, you just try to forget about it. Spiked. So it went from like 2.5 to like eight.

SPEAKER_01 6:37

Yeah, overnight.

SPEAKER_00 6:38

It seemed like. Yeah. It seemed back overnight, but it was kind of coming, right? Yeah. But um, it did. When it did come, it happened really quick, rapidly. And that impacted the fix and flip deals you had going at the time. Yeah. So that blew up. And I'm a fighter. Yeah. You know, so sometimes, sometimes in life you gotta know when to fold them. Everybody out there, don't be afraid. Follow them. You're not a failure, right? You're you're a lifelong learner. You're a lifelong learner. Everything is a learning lesson.

SPEAKER_01 7:08

100%. Because whatever fix and flip deals you had going on, they started off with a set of numbers. Yeah. Because you were a researcher. I was a researcher. And you do you did your analysis and your homework. And it was good. I'm sure it was good. Oh, it was good. I mean, solid numbers, solid research. I mean, look great on that spreadsheet.

unknown 7:28

Yeah.

SPEAKER_01 7:28

Within in real life, yes. Real life happens, right? Beyond your control.

SPEAKER_00 7:34

So you wanna you wanna make God laugh, tell him your plans? Yeah. Yeah. He was laughing. He was laughing hard, probably, because he was like, She don't even know these interest rates.

SPEAKER_01 7:42

But these interest rates is about to happen. Did you make it out unscathed or did you I made it out? You were able to sell them?

SPEAKER_00 7:50

I sold them.

SPEAKER_01 7:51

Sold them. Yeah. Yeah.

SPEAKER_00 7:52

To get out of them. Not to not necessarily for profit, but you got out of them. And I'm I'm, you know, I I give the good and the bad. Yeah. And the ugly. Yeah. Because people need to know. Sure. You know, there's good, bad, and ugly in this business. Yeah. Yeah. So it got pretty ugly. But then it went back to, you know, it's stabilized.

SPEAKER_01 8:12

So I'm guessing, fast forward to this year, you're not, you don't have any fix and flip. No, I'm not sure. Fix and flip projects going on right now. I I was confident in that guess that you're probably not doing that right now. Yeah. So go ahead.

SPEAKER_00 8:24

And I think I'll change lanes. I'm not necessarily um in the fix and flip world. Because you know, as also with fix and flips, they say for every two or three you're supposed to hold one. Yeah, keep one. You know. So right now I'm more into which we're going to talk about like the co-living space. For sure. So even when I um purchase, because my next step will probably be purchasing at some point. Yeah. Um, then I'll I'll kind of create that portfolio more so than a flip. And then the flip will just be something you do on the side. Yeah.

SPEAKER_01 8:57

Flip will be something you take the cash and just add exactly reserves and have it sitting there. Do that exchange and just and repeat. Yeah. Yeah. Yeah. Um, so fast forward to today, tell us about your current business model.

SPEAKER_00 9:12

So currently I do co-Lidding. So I segued out of short-term rentals and I'm 100% into co-Livin. Why did you do that? Um short-term rental started to change a bit. There were so many ordinances and so many permit regulations that it just became a little bit more challenging. Um, and then I realized that I wanted more semi-absentee, never passive, because I don't think business is passive at all. Right. But a little bit semi-absentee. And I just wouldn't be able to get that with short terms. With short terms, very demanding. Very demanding. And I wanted more consistency. So each month there wasn't this huge fluctuation from going from like maybe 3,000 a month in profit to 500. You know what I mean? And it happens. It does. It's kind of like the pick me pick me. Yeah. You know, and then it started to become a little bit more saturated. Or I like to use competitive. Yeah. Because some markets are saturated, but some markets are just competitive. I find Charlotte to be a competitive market. Yeah. Not as much saturated. Um, others might disagree. So I wanted to segue into short-term. And I was so my I used to have a arbitrage agency where more so we just found properties for folks that were looking to leverage existing homes. And it could be investors that were looking for properties for the purpose of short-term rental. So because of that, and that's pretty much arbitrage, right? Leveraging a property that already exists, whether it's a property management, community complex, or um landlord ownership and leveraging it for your business model, whatever that may look like. It could be co-living, it could be group homes, it could be um short-term rentals. So I did that for about three years. Okay. And I was more so focused on that space and acquiring clients and assisting them with negotiations and arbitrage deals and things of that nature. Um, and then at the same time, I was segueing into co-living. So I was doing both of those at the same time and working in banking.

SPEAKER_01 11:17

Do you still work in banking? I do not. Okay.

SPEAKER_00 11:20

Yeah, I don't know. I kind of took a hiatus around that time period. Um and uh so now I'm fully immersed in co-living. Um and that's kind of my baby. Okay. That's where I am. But I have a different take on it, as you mentioned. Yes. I'm more so arbitrage, right? So it's renting versus um ownership or creative finance and anything of that nature. So right now my portfolio is rentals.

SPEAKER_01 11:49

Okay. Your own portfolio that you're building. And then you're also helping others get into properties for the purpose of arbitrage. Correct. Rental arbitrage for co-living.

SPEAKER_00 12:02

So well, I do it for co-living, short-term, whatever it is that they do. You still do the short-term. So I for acquisitions for clients, yes, not for myself. Okay. So for any any type of business model that they have that they're looking for acquisitions for.

SPEAKER_01 12:20

So when you are helping someone um find a unit or a property for the rental arbitrage purpose, co-living rental arbitrage purpose. Um talk to me about how you go about like creating these opportunities. Like, are you co-calling landlords and say, hey, um, this is what I do. Can I add you to the list of you know, properties that you know we could potentially get in front of someone else that might want to use your property for rental arbitrage? Like, how does how does that such a good question?

SPEAKER_00 12:55

It's like I do it so much now that I even for like I just comes kind of naturally.

SPEAKER_01 13:00

You gotta tell us. It's a very unique business model.

SPEAKER_00 13:03

Yes, for folks out there that are looking to arbitrage, it's more so finding the right property, right? Of course, running your numbers, making sure that it makes it makes sense before you even reach out to the landlord. Yeah. And then after that, it's presenting your case, but in a friendly way. Yeah. Because most land most owners and landlords, that's either their first property, so they still have an emotional attachment. Um, or they just want to know that whomever is going to be in that property is going to take care of it the way they would. Right. Now there's some business models that are a little bit higher risk than others that most some landlords, some, not all, will shy away from. Yeah. But at the end of the day, if you have insurance, if you have uh like a set plan for that property, um, you can negotiate, especially depending on how long it's been on the market. Yeah. You can negotiate, you can build a certain rapport and trust with them. You might have to speak to them a few times before they even decide that they want to move forward with working with you, right? Because that's essentially what you're doing, you're partnering together. Yeah. Um, and then from there, you just set up your business model. Yeah. You negotiate what you can, um, you build a rapport with the owner or the property management, and then you run your business from there.

SPEAKER_01 14:24

Yeah. So um, this is one of the things that I do teach my students as a way to get into um room rentals. If you are new to real estate and have never owned property before, but you're interested in the room rental business model, rental arbitrage is the is a good, probably safer way to start. Number one, it's lower cost than buying a property. Number two, it gives you an opportunity to see if you even like this business model before you commit to ownership.

SPEAKER_02 14:52

Yeah.

SPEAKER_01 14:52

Um, and you can get into rentals faster than you can get into to finding that right property to buy. Um, so shameless plug. Uh, I do have the room rental profit system, um, which is my online course mentorship program as part of my mentorship program. Uh, Carolyn is one of my partners. And so, as part of the mentorship program, when my students come in, they get the first property on us. Like Carolyn goes out and finds their first unit for them. It's a real, it's a rental arbitrage situation as mentioned. And so it's not something that they own. It's not something that they have to put up thousands and thousands of dollars to get into. Carolyn is actually finding some properties that are already furnished. She's finding properties that are already occupied. Like there are people occupants in the rooms. And so this has been an amazing partnership so far, so fast, so far. Um, and so glad to have you a part of the team. Yes, thank you. Yeah.

SPEAKER_00 15:54

Glad I'm glad as well. It's yeah, to kind of expand on that, right? On the rental abotage part. I tell people you look at it this, you can look at it as if you decide that the market you're in isn't a fit, or if you decide that, you know, this just isn't for me. I thought it would have been different, but it's not, you know, a fit for what it is that I where I see my future. Right. Then it's as simple as a two-day or a 60-day notice. Notice depending on what your lease contract says. Right. Okay to get out, versus trying to put a home in the market, you know, especially if that home has now been divided into certain rooms. Now you have to find an investor that's uh has a similar model as you to sell it to, right? It's not going to be the average home for an average family. Right. Um, a lot of my clients scale. So they start in arbitrage, but don't necessarily pigeonhole themselves to arbitrage. As you should not. As you shouldn't. So they might have a diverse portfolio, some mixed properties, um, ownership and arbitrage. Yeah. But most of them will start with arbitrage and then segue into owning, build up scale, build up, you know, their income and their capital, and then segue into purchasing.

SPEAKER_01 17:12

So you're you're finding uh units that are single family homes, town homes, condos. Condos. Apartment units. Oh you making this work with apartments, yes, for short-term rentals.

SPEAKER_00 17:24

Okay. Short-term and midterm. Gotcha. Not not room rentals that aren't necessarily. Because you just more more times than not, especially in Charlotte's market, the rent would might be too high for like a three-bedroom, three-bathroom, apartment rental. Right. No way, no way to profit from that. Yeah. So your profit margins are thinner. Yeah. Um, but you know, if it makes sense, and whatever that bottom number, whatever that number is that you want to walk away with your net profit, you kind of just work backwards from there. Yeah. You do your calculations, right? When you run your numbers.

SPEAKER_01 17:57

And you're you're positioning your clients to make between 500 and $1,000 cash flow per door. Correct. Not room door, we mean per property. Per property. Yes. Because if you can't net $500 from the property, it's it's not worth the effort. It's not.

SPEAKER_00 18:15

So we definitely, when we talked about that, we definitely agreed on that. Like, you know. Yeah, and I like to manage expectations. Yeah. Like the the cash flow comes from scaling. So if you're looking at one, let's say one unit gives you $800. Yeah. By one unit, one property gives you $800. Depending on what your mindset is, that $800 might seem low. Right. Some people $800 is low. Right? Especially if they're, especially if they're transitioning from short term to co-living. Okay. That's fair. Then for them, it's like, and then if they're new in the industry, also, I find those two are the main ones where they see like an 800 as you know a little low. As low. That's a good point.

SPEAKER_01 18:58

Pause right there because I am from a world of traditional rentals where I was only cash flowing $250 a month after expenses. So to go from $250 to be able to go from that to $800. Right. That's amazing. Like that's that's that's where I'm trying to take my my students within my program is to hey, traditional rentals get you $250, $300 a door. You can do 2X times, sometimes three times more from room rental properties. But I understand, and and so I understand what you're saying that someone coming from the short-term rental world may not see $800 as a lot, but from this angle, coming from traditional rentals to the room rental business model, that's that's a come up. That's a basic.

SPEAKER_00 19:54

Even for me, I'm coming from short-term rental. Yeah. So it's like I had to kind of restructure. When I restructured my business out, I had to restructure my mindset. Your perspective on things, yeah. I'm like, do I want consistent 800 and I could scale? So let's say I have 10 units, 800, you know, giving me $800 a month, let's just say. Yeah. Then that's where your revenue comes in that could replace your nine to five. Yeah, for sure. Whatever that number is for you as the investor. Um, but I like consistency. Yeah. So when I know, unlike STR, you never really know from month to month what your calendar is going to look like.

SPEAKER_01 20:34

And then you reservations are gonna look like and then depending on where your property is located, you might just have some seasons where and it's always low season. It's low season. Yes. And that's just the way it is everywhere at market.

SPEAKER_00 20:44

Real estate has a low season, much less, you know, the short-term rental marketing. So I I know, okay, if I'm if I have three or four folks in here at six to 12 months at a time and they're renewing, then that's six to 12 months that I know I'm getting consistent income. Yes. I even know when to market because I know that, okay, they're coming up on 45 days out or 60 days out. I start marketing. Yep. And I never really stop marketing. I may lessen how often, how much I market, but I never really stopped. You should always have a waiting list.

SPEAKER_01 21:16

Building a list. Yes, ma'am. Yeah. Yeah. So that's that's my MO since I went into the room rental spaces to be able to have people who are staying on average six to eight months. That feels so good. It does. Like, no way.

SPEAKER_00 21:29

That's one semi-absentee. Yeah, that's exactly joy, joy, joy. Exactly.

SPEAKER_01 21:33

And so that's on average how long my folks are staying in room rentals. And I couldn't be more content because I come from a world where with the traditional rentals, and I mentioned this on um uh past podcast episodes is you have a traditional rental, someone stays in the unit for say two, three years, and that's great. But when they move out, they left it in decent condition. They didn't tear up anything, but you still got to put in thousands of dollars in today's market, cost of today's. Material with today's uh cost of labor as high as things are, you gotta do some painting and some flooring at least. Yeah. Um, you know, let alone some other things that you might have to pay for to get that unit ready for the market again. Yes. So spending thousands of dollars on a traditional rental just wipes out your cash flow for that year, maybe two years. You don't know. You don't know, you don't know, and so forbid they don't leave it in good. Right.

SPEAKER_00 22:27

If they tear it up, yeah, that's really a bad day for you. So yeah, I've had I've I haven't had it from the traditional rentals, I've had it from the the short-term rentals. Oh, yeah.

SPEAKER_01 22:39

Yeah, but they're worse than like a traditional renter. Yeah, because which is wild because they're only in there for a short-term period of time. You would think. But go crazy is they've never lived in a house before.

SPEAKER_00 22:50

And I think part of that is also because it's not theirs.

SPEAKER_01 22:53

Right.

SPEAKER_00 22:54

They just take the liberty to treat stuff and to work. Even with co-living, as you know, there's still a sense of this is my space. Even though that's a six to twelve months, I find that a lot of my uh members want to put their own touch their space. For sure. Right? Yeah. Whereas with even let's say short-term rentals, they're they're coming into a space and they're knowing that in three, four, five days they're exiting it out versus six to twelve months. Right. You know, there's still a level of ownership and yeah, responsibility that goes into that. For sure.

SPEAKER_01 23:26

Yeah. So you are um building this business, building your own portfolio. What's your do you mind sharing some of the business goals you might have? Like what's your end game here? Are you? Because I know that we've talked, and if I remember correctly, it's on your radar to maybe move out of this country and explore other countries in a way where I'm a wonderer at heart. Where you're taking in like multiple countries and talk about a little bit about goals and stuff.

SPEAKER_00 23:53

So goals-wise, I am in a space right now where my co-living ROI or cash flow will fund my other businesses. Okay. Right. Some of that is I would like to get into healthcare, um, mental health, mental health, things of that nature. Okay. Um, but still keep my co-living units, right? Still help my clients to acquire those things because that's still that's kind of still my baby. Yeah. Right. But I've gotten to a place now where I can do all of those things um and still be remote and be you know location independent. Nice. That's the plus, everyone. Yeah. Right. You set up your systems, yeah. Um, you set up your team, and I have like a core team that I can trust. You like my cleaners. Yes. I love her. Yes. Um, so it's it helps me to be able to build to the next step. And the next step is getting into other business endeavors. Yeah, because you know, ultimately that's the goal. Um, to travel more, yep. And then to be able to still continue building out my portfolio and to segue into kind of on your space, right? This is where I come to you on the creative financing end. Yes, ma'am. But for me, it's more so instead of multiple houses, it's more so like uh units, like uh apartment units, right? On my end. Yeah. Um, but and then seeing what that looks like. Yep. Yeah, and still create my arbitrage portfolio and then work towards ownership. Good stuff.

SPEAKER_01 25:30

Yeah. So um the um your clients that you were helping get into the the rental arbitrage setup, uh can you talk a little bit about as you're helping different clients transition in, what kind of the mistakes that you're seeing your clients make when they get into these?

SPEAKER_00 25:53

Yeah, they scale too fast. Scale too fast, they scale too fast. Um, sometimes before one unit is even filled, they want another. I'm like, well, take your time, but kind of feel out the space. Yeah. Go through your trial and errors because no matter what, you're gonna have your own individual and personal trial and errors. Yes. Right? Because even with mentorship, even on my end where I'm assisting you, you're gonna realize that there's some things that may or may not work for you. Right. That may or may not work with another investor. Right. And you have to kind of understand what that looks like for you. There's plenty of time to scale, there's no FOMO. There's gonna be properties. One thing that there will always be is housing. You always need a place to live. Affordable housing for sure. Affordable housing for sure. Yeah. So just take time, understand the business, understand your systems, yeah, you know, um, work out your kinks a little bit, and then segue into other units.

SPEAKER_01 26:50

Yeah, I think another thing the internet has done to us is you know, make it seem as though you can make a lot of money in a short period of time. And if you're able to scale to three, four, five, six units in a short period of time, there's your freedom number. Yeah. Now, now I can, you know, quit my nine to five. Now I can travel more and do all nope. What you're doing is creating a trap of a business where you scale too quickly, you let quality fall by the wayside, therefore you start losing quality tenants that are paying you on a consistent basis.

SPEAKER_00 27:31

It's so funny because now you're focused on, oh my gosh, I have all these all these rooms I have to fill. Let me just get people in there. Uh-huh. And that's the worst. Just anybody. Right. And not following your policies.

SPEAKER_01 27:42

Right. Not having SOPs. Not having standard operating procedures. Yes. We can teach a class. We're going to have to teach a class.

SPEAKER_00 27:49

Yeah, we're going to have to teach a class. Yes. Yes. And you know, it's it's I understand the entrepreneurial spirit. Sure. Absolutely. You know, we both do because we're entrepreneurs. Yes. But sometimes you have to take a step back. Absolutely. And that, and I'm also speaking as one of those people that scale too soon. Yeah. So I'm speaking, you know, I'm I'm saying it from a perspective of this is what I did. Don't do what I did. Right. You know.

SPEAKER_01 28:15

Yeah.

SPEAKER_00 28:15

And better than me.

SPEAKER_01 28:16

Exactly. And so your clients have the benefit of um your ex you sharing your experience, the good and the bad. So hopefully they don't run into the same pitfalls that you ran into. There's marketing.

SPEAKER_00 28:29

There's still a lot that still goes into it. But once once you have your units filled, yeah, that's when you have more of a semi-absentee model. Right. Right. Right. Um, and then you can move on to the next. Right.

SPEAKER_01 28:43

Well, Carolyn, thank you for being here. Thank you for having me. Listen, we're gonna drop the link to your website. I know you have a website. We'll drop your uh contact information, whatever you want us uh to share, whether it's email address or website. Um, guys, reach out to Carolyn. Like, take advantage of this unique business model where she is, it's a rental arbitrage business where she is helping you find a unit that you can rent for the purpose of room rentals. Now, if you're in my mentorship program, her services are included. But if you're not in my mentorship program, um you will have to pay. Um, but it's well worth whatever Carolyn is charging because she's giving you not only the benefit of renting something and not having to buy it to let you experience it a little bit, to understand if this is something that you want to do long term. Um, but she's also a wealth of knowledge. You know, we talked about how, you know, as entrepreneurs, real estate investors, that mistakes are going to be made for better or for worse. But but we have learned from our mistakes, um, we have learned from our experiences, and we are passing that along to the folks that are in my mentorship program and to to your clients. You're passing along, you know, that wisdom that I know saves people time, effort, and energy if they just listen.

SPEAKER_00 30:04

Absolutely. And we do everything, we we do everything from finding the property to negotiating concessions, helping with the lease agreements, you know, onboarding you to the property. So there's a lot more involved than just, oh, we're gonna give you a couple of leads and then you call them and qualify them, right? Qualify for you.

SPEAKER_01 30:23

Right. Your business is way bigger than that and does so much for um your clients. I've witnessed it firsthand. Amazing business, amazing um what you do and what you bring to the table. So um, yeah, your phone's gonna start blowing up uh once people see what you do. Um, so thank you for being here. Thank you for having me. Uh and that's all we got for this episode, guys. We'll see you on the next episode. Peace.

unknown 30:49

All right.