Choose: Tom Hardy or 5X returns with AirBNB? w/ Jason Griggs EP 25
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From the art of the deal to keeping it real. Live from the Simply Vegas studios, it's The Power Move with John Gafford. Back again, back again, back again. Another episode of The Power Move. This is Friday's episode, so if you're checking it out Friday. Chris Connell, Esquire, still on a damn yacht.

In the middle. I mean, when I say, this is not a fishing boat, Colt. No. I've seen pictures of it. It's not a fishing boat. This is a damn. It's not a dingy. It's not a dingy. Would you say dingy? What is it? Dingy? Is that what you said? No, not dingy. No, you said it. You said it. No, I'm not going to say it. What did I say? You said dingy. I did it? Yeah, like an emphasis on the ingy. How do you say it then? A dingy? That's funny.

That's what I said. You're just mumbling the last of it. No, no, no. You said ding-gee. It's a dingy. That's what I said. We're going to replay it back. If somebody gets a home run, is it a ding-ger or is it a dinger? Well, that's different. No, it's not. All right. Well, anyway, sitting in for Chris Connell Esquire today.

We got my man, Jason Gregg. Jason, what's up, buddy? How are you? Thanks, Sean, for having me. I'm pumped to be here. Yeah, man. So I wanted to have you on for a couple reasons. We're going to talk today extensively about one of the best trends in real estate because, again, trying to focus on, as they say, dance who brung you. That's a good way to put it, what my parents say. We've done a lot of the NFT. We've done the crypto talk. We've done all that stuff. But at the end of the day, man, we're real estate people. This is what we do.

And you, my brother, are on, I'm going to call it the forefront of what's happened in real estate. And I dig that about you. And not to mention that, but you also got another great quality that is near and dear to my heart, which is?

You're in charge of my son's lacrosse future. So there's that. So tell us a little bit about you, man. Obviously, you're from the great white north, yes? Yeah, yeah. I'm from Long Island, New York. I moved here 10 years ago now. It's important he's from Long Island, is it? Yeah, he is. He never dated anybody from Long Island, right? Because I did that once and she almost killed me, killed another girl I was dating. No, yeah. New York is different. Cool. Top five girls you dated from Long Island. Oh.

No, I'm just kidding. Don't answer that one. Big and coffee and want me to stab you. Sorry to cut you off. No, there it is. So, Jason, you're from Long Island. You grew up there your whole life? Yeah, I grew up in Long Island, New York. I went to school at West Virginia, played lacrosse there, and then went to grad school for a little bit.

Moved out to Vegas 10 years ago. I was a phys ed teacher and then didn't really love it too much. Okay, back up, back up, back up. So you went to West Virginia. Yes. All right. You didn't marry a cousin. I didn't. Okay, that's successful. West Virginia. Go Mountaineers. Go Mountaineers. Beautiful campus. I'll give you that. I've been there. It is beautiful. I'll give you that.

So you graduate with a degree in physical education, correct? Yep. Physical education and communications. Communications. Yep. And then you, you're just, so you got your degree. Yep. And you're like, I'm done. How do you wind up in Las Vegas? I was visiting a friend of mine over and over again.

And I got addicted. Was this a female friend? No, it's a male friend. It's actually my next-door neighbor in New York. Okay, got it. He moved out here and was going to school at UNLV. Okay, right on. And he kept inviting me out to visit, and I was hooked.

Told my mom. What was it about the town that hooked you? What was it? Just the energy. Vegas is an energy town. It is, man. For a 22-year-old, I was totally hooked. There's just so much action in this city. And I really saw the growth of it early. I saw. What year was this? When was this?

2012. Okay. I was 22. Yeah, 22 or 23. I was pretty young. I didn't realize, but the real estate market was down. Oh, yeah. And I kept visiting, and then I convinced my cousin. I was like, you could buy a condo out here for cheap.

50 grand for a condo. Convinced them. I was like, let's buy a condo. He bought me one. He goes, you got one shot. And that was it. And that was it. I was hooked on here. See, I got to tell you, it's funny you talk about the vibe you felt when you got here, man. There's only, there's a handful of cities, I think, in

in the United States that just have a vibe to them, right? Right. When you get off the plane, I think New York city has that. I think, I think when you're pulling in, of course, I mean, most people fly in to Newark or wherever else. And when you're driving in, man, we're coming across the bridge or wherever you're coming through and you pop out, there's just an energy to that city. You can't feel, I feel that way about new Orleans. I mean, the second Atlanta, the airport, there's just a vibe to that city. I think there's definitely a vibe to this city.

1 million percent. I think probably the biggest vibe because you walk into the gambling, you walk into slot machines right on the airport. Like, how do you not feel a vibe when you hit this town? There's no way. I just think everybody's in a great mood in the city at all times. On the flights coming in, not necessarily the flights coming out. But when you land and you get off that plane, everybody in the city is happy. Everybody's ready to go.

And it was very appealing to me early, being a young guy, didn't know what I wanted to do with my life. And I wanted to take a chance and gamble on something. And I came out here by myself and I just hit the ground running. And I love, I love it. So the first gig, so the first gig you get, where is it? So I get a job. I go on Craigslist. I get,

teaching job teaching kindergarten on Craigslist Craigslist is that how they're getting my kindergarten yeah immediately I'm picturing like this dirty yeah and now I'm thinking I've been watching a lot of the school board meetings lately and it's all coming together shit show and I'm like this makes a lot of sense it was in North Las Vegas of Martin Luther King

Martin Luther King and Anne. Okay. All right. And I had no idea about it. Answered, moved out, got the job. I was making $29,000 a year my first year. Okay.

Well, I did it. I did the year, and then I met the lacrosse team here in Henderson. And all the parents were like, you got to quit that job. We could get you a job doing something way more money. Anything else. So I got a job. One of the parents hooked me up with a job at the hotel. I worked at XS nightclub. That was my second job. Great networking place to work. Of course. Number one nightclub in the world. What did you do at XS? I was a busser. Table of servant or whatever they used to call it. Got it. Networked.

Every day. That's one of my, I would say, best qualities. I like to talk to people. I like to meet new people. And after that, I worked there for about four years, saved up all my money. We were making really good money at the time. What's the wildest thing you saw there while you worked there?

I think all the celebrities that you see, just like Bieber and Leo and like they just come in and they're just like normal people. Oh my God. Right next to you. Did you see that? I got it written. I literally have it written in front of me and that was like, we might have to have you on. That's like the best segue ever. Yep.

Did you happen to see the Leo Bezos? Dude, Bezos. All right. See, here's the thing. Let's break this down. I mean, I think every guy in the planet started breaking this down like, oh, shit, that could happen. So, you know what's going through her mind. She's like, there's only, I mean, Leo's got money. There's only so much money. Like, there's a line where it just becomes irrelevant. Right.

And I think Leo's over the line. I'm pretty sure. I mean, what's the appeal of Leo? Like, I'm looking at Leo. What's the appeal of Bezos? Are you kidding me? You're a billionaire and you don't have to deal with him probably a lot. But I just don't look at Leo. Like, I see why girls throw themselves at him. I don't know. Maybe because I'm looking at Leo. Leo is taking your girl in like, I mean, that dude could like,

sleep in the gutter for a week and show up and take a bath. But I don't get it. You know what? So I've, you know, I've been fortunate enough to meet a lot of cool people. Your wife does. Oh, probably. I'm going to ask her. No, my wife is, yeah. I always tell people the most impressive thing I've ever seen is a room come to a standstill and I've been around major celebrities, you know, that have gone to stuff.

But David Beckham made a room go to – it was like it went slow motion. David Beckham was like, yeah, he's taking everything. I think there's – look, as much ego as you want to have as a man, I think there's a line and there's a handful of guys that cross over that line that like you just know. You have no chance. They can take your girl and there's nothing. Like if my wife came home and said, I'm leaving you for David Beckham. What?

Like, what am I going to say? You're not going to be mad. What am I going to say? Are you going to get mad at that point? I'm just going to think like, well, shit, the kids are going to have a good Christmas, I guess. I mean, what are you going to do? I mean, what am I going to sell her on this? That's what's going to happen? No. Leo's in that top. He's a top tenner. You're completely done. You're done. I mean, okay, so you got Leo, you got David. Who finishes the top five? Oh, in that list? I mean...

Even though he's aging out, I think Stamos probably could occupy that list. I almost fought Stamos. I think, yeah. I'm sorry. I can't tell that story. Yes, Colt. No, I can't tell that story. Colt, we've been doing this for three months. You know the rules. You say some crazy shit. You got to tell the story. Because I was at a...

No, because then I'm never going to get invited to the party. No, you're telling the story. Tell the damn story. You know the rules. Tell the story. Stamos just knocked over some red wine on a nice rug and blamed it on a poor little girl. And I saw the whole thing go down and didn't appreciate it. And that's all I'm going to say. And he didn't like that I told the story. But...

Yeah, no, he's gorgeous. I'll give him that. Oh, great. Good looking guy. Nice job. Now John Stamos is no longer listening to the show. Damn it, Colt. And what's that guy, Rob Lowe? Oh, yeah, Rob Lowe. He's taking your girl. And then there's got to be like one old guy that you're like, yeah, of course he's going to take your girl. And I'm trying to think of who that person would. We'll get back to that. No, see, I wanted my initial response, my gut response was to say Clooney.

but he hit like this weird line where he just turned to this weird old man. And like now, like that's the line that I fear. Cause it's common. Like I'm going to hit, I'm going to hit the wall. God, I hit the Clooney wall. What's the, uh, the double seven guy, the Pearson Pierce Brosnan. Maybe I,

I don't know. He's on Leo's level. All right. Well, as much as I'd love to sit here and talk about sexy dudes all day, Colt, as you hijack the show, as you always tend to do. Yeah, back to this. So you get a better job. Get a better job. That was a long way around. I'm sorry, guys. That was quite the trip around the gym, Colt. Thanks. All right.

Welcome to the show, guys. Hey, welcome to the show. Anyway, so you got a better job. Got a better job. And what the lacrosse team gave to me was a networking plethora of opportunities. Every parent is so welcoming and wants the help, right? I'm going to say this, man. My kid's done every sport there is out there.

And I will say of all of the things that we've done, the lacrosse family has been the most welcoming, the most interested in your kid being part of it than anything else. It's been really great. Why do you think that is? Because I come from Utah, so we're more just traditional sports. It took some time, but we built it. The problem with youth sports right now, it's so competitive. Every parent thinks their kid is going to be in NFL and NHL.

professional, right? And with lacrosse, there's not really like a whole, like home ending to being a professional. There is, but so these parents are realistic and they just want every kid to have a good experience. And that's what we've built in Henderson. Yeah. I think, you know, it was crazy when we were playing baseball here.

It was like, dude, my son was like seven. And I started talking to somebody. I'm like, yeah, you know, we're playing, you know, say a very little league, blah, blah. And they're like, Oh, who's this hitting coach? I'm like, dude, he's seven. They're like,

You're behind. Yeah, you're behind. You better get on it. I felt that. I told my brother the same thing when he came from L.A. I said, dude, this is no joke. Your kid's baseball is... He's like, oh, from L.A., blah, blah, blah. I go, no. And there's nothing wrong with that, but... See, I think there is. With you... There's going to be competition and everything, but there's a line. But what...

What those kids don't get is it's always like you have to beat out the next kid. You have to beat out. You have to. And with our team, it's working together. Yeah. That's the difference between something like that and what we do. Yeah. I've definitely felt a good sense of that. I appreciate it. So you get better gig. You start a better gig. Where are you working now? I'm still in the hotel. And I asked Tim Cupps, who you know. Yep. I know Tim very well. I wanted to learn how to do real estate. I bought my first house. Love the process of it.

I was like, can you teach me how to do real estate? I was coaching his two sons at the time. And he gave me an opportunity. He said, oh, I'll give you a shot for a year and we'll see how you do. And it exploded from there. And you know what? I'm going to give Tim a shout out real quick. Because look, man, I own a very large brokerage here. So me being me and doing what I do for a living, as soon as I found out Jason was in the business, we do what brokers do. Hey, come on down.

down come on down to the promised land buddy yeah and what did jason say man hyper loyalty to tim for uh for teaching him the business and hold the ropes and in a movable stone from their their brokerage which is as it should be i i do i respect when you have when you when you've gotten something like that from somebody i i respect that man i do

So shout out to you, Tim. Good job. Yeah, Tim's been amazing to me, life-changing, obviously, mentor in my life. And I look at it, I compare it to the lacrosse team where if I coach a kid for a few years and then he says, oh, I'm going over here, Coach Griggs, because of whatever reason, I get mad. Like I put some time and effort into you and I feel like I should coach you throughout.

We're going to have to talk about that a little bit. We're going to talk a little, maybe a little bit about that. So that's how I feel. As it goes. But yeah, not anything to do with you, but just, yeah, we'll talk about that later. Sounds good. Anyway. Wait, you guys are going to talk off air, but I have to spill my guts on everything? No, that's true. I'm pretty sure the boy, because you're currently with the Coronado program. Yes. I think the boy's going to go to Gorman. Yeah.

Well, then he'll go play for my good friend Nick. Okay, cool. So that's good enough. And it's totally fine. Vegas is different. Vegas is different because of the schools. Look at you. You're trying to cause problems on the show with the guests. You've got like seven inches, but he's kicking your ass. We bring him in here, and we're trying to have a nice conversation, and you're causing problems. I'm just trying. Do you think you could be an Olympic? No.

You think you could play lacrosse in the Olympics? No, not even close. But you could definitely ride a horse. So you've listened to the show enough, you know where this is going, I'm guessing. Just saying, he's in good shape, he's an athlete. I'm pretty sure he could be an Olympic athlete.

For those of you who just tuned in, Colt has this fantasy that he could be an Olympic equestrian because he feels the horse does 95% of the work. You're all laughing when I'm making millions off sponsors. What's the drug that they keep claiming everybody's taking for COVID?

I know you told her. Yeah. They're going to be my big sponsor. Perfect. We'll take all the sponsors we can get at this point, which is fine. So cups gives you the big chance to start selling real estate. What year was this?

Five years ago. Five years ago. I've only been in five years. Five years. Five years ago, yep. So this, you know, I love this because we're going to talk about Airbnb, which is really what's become your niche, which is really, really good. And, you know, something I love about the real estate business is the best people at it. And, you know, I always tell people the best people in this business in three years from now are probably not even in the business right now. And that's the thing I love about this is because you're never too late.

- Never. - If you're smart, you can maneuver this business, you can set this business up to do well in it, and you can, really the sky's the limit. It really is. - That's the best part, is there's no cap on how much money you make. And I'm somebody who'd never made a lot of money.

And then I started making some money and I loved it. And I was like, this is awesome. Like, I'm going all out. This is awesome. I can go this dinner. I don't think it's something that's talked about a lot where if you want nice stuff and you want to better your life, you have to work hard and you can in real estate. The harder you work, the more money you make. Yeah, that's a good point. And that's what I've done. That's a good point. So you started out 2012. You're just grinding, doing...

Yeah. Well, so I started, well, 2016 was my first year in real estate. And so I immediately realized that my success was going to be from investing in real estate rather than being an agent.

You know, that's one of my favorite sayings is there's more money to be made in real estate than in real estate. And I learned that very quickly. And within my brokerage, nobody was investing in real estate. And I was like, why aren't these people 20, 30 years in the business? Why aren't they buying? Why aren't they flipping? And I don't know. I still don't know the answer to that question. I do. I do know the answer to that. The reason that most agents...

They get in the business, don't get into the business of owning real estate. And a lot of people do that. It's because a couple reasons. Most people that come into the real estate industry have never owned a business before. And when you start in real estate, you become you incorporated.

Yeah, that's what you start as. And that's a great point. People don't understand things like P&L management, budget management, taxes. These are things they don't understand. And in most cases, people are always, most realtors in two, they're chasing an image. Yep. So they're spending beyond what they're earning, especially to the tax man. I mean, I would guess to me, if I had to put a number on it, I bet you 50% of people that do this job have a tax issue.

are making tax payments of some sort. 50% of them are making. That's crazy to think that. But what do you guess at that time? I would have guessed at least over 25%, which even 25% is ridiculously high. Okay, but I'm talking about the agents that work here. I'm talking about the agents scattered across the part-timers and everybody else. It always killed me is you got some successful people and they don't even go in a home.

I'm like, how do you not own your own home? That kills me. That kills me big time. Again, you get back to the point of they don't understand that this is a business. They don't understand that, so they're not running it like a business. So they're always kind of behind the eight ball financially.

And then when you start getting things like tax liens and tax workouts and those sorts of issues, your credit is going to get demolished. Therefore, you don't have the credit to do this. So you've got a cash flow problem because you're always being chased by the tax man. Plus, you probably have damaged your credit by something you're doing. But that's the sad point of this, which is why I recommend people, when they get in this, one of the things that we train people on here on

you know, they're new is business basics, man. Because a lot of people, and there's nothing wrong with this, but if you've never owned a business, if you've never run a budget, if you've never run a P and L, if you've never run quarterly tax payments,

This like that, that's a lot more important than look at this beautiful fireplace in the family room. You bring that up and I'm a good example of it. Both my parents were teachers and so they were be a teacher, retire at this age, you get summers off. Sure. And that was in brains into my head. Yeah. From zero until I was 17. And then I realized that isn't,

what I'm supposed to do. - Yeah. - For me. - Yeah. - Some people like to do it, I don't. And so when I broke away from that, I exploded. I immediately turned into an entrepreneur where, okay, we have my real estate, I started a lacrosse business. I just, I think of ideas and you could start this, you could do this, and you can incorporate it all.

into one. And so I bought my first rental house within the first six months in the business. Well, let's back up a little bit though, okay? Because you were coming out of being a teacher. You had no experience with any of the stuff I just laid out. So did you make an investment in learning that stuff or is that something Tim made sure that you knew? No, Tim didn't. Tim didn't teach me really any of the off-market investing. He was- No, no, I'm talking about basic business principles that you need to run a business. So I have a cousin who I really rely on. He's like my

my guy who pretty much raised me and taught me economics business 101. He was the one who bought the condo for me. Got it. Okay. So when I had the idea to get into real estate and he was like, yeah, that is a good idea. Go do it. Get your license, call me, and then we'll start looking for investment properties together. And so that's what I started doing. I looked in Henderson where I live in Sunridge and I found one and I said, look, a little three, two, it was

it was 250 000 at the time i'm like we could rent it for this and he's like let's buy it so we split it and we started renting it out and that's how i got started into it so that first house the first condo right first one yep did he pay you the down payment he paid the whole thing he paid the whole thing he paid the whole thing well the whole thing cash just i didn't even know he was gonna buy it he i just told him about him like my buddy's got this he lives in this complex

50,000 bucks. Oh, 2012. Sure. 2012. We were planning snow in Brooklyn, New York. And he's like, I bought that condo. I'm like in Vegas. He's like, yeah. And then my mind was like, okay, I'm going to go live in Vegas. I'm going to ask him to live in that condo. And so I did. Well, I don't know if I, I don't know if you know how I got in real estate, but when I first got into the business, we were doing condo conversions, right? Okay. This is during the boom time of 2006, 2007.

And we would go out and they would take, buy apartment buildings. They would renovate like 20% of the units. And then we would go to these big real estate shows and say, Hey, you can buy a unit. Do you want to buy one of these? Or look, these already have tenants in them that are already paying rent. They would already buy the ones with tenants in them, even though they were not renovated. Got it. That was the hustle. It's coming out of the sun vest that was here. Um, unbeknownst to me, that was a hustle. I just, you know, bright eyed new in real estate. This is how I thought it was.

And it's funny, we were selling these units in Vegas for like 327 for the three twos, like 327,000. I was selling those same exact units in 2011 as an REO agent working for the banks for like 35,000. It was crazy. I know. So I got it. I started like, I guess I started very early because I saw that part. And then as I...

I enjoyed Vegas even when it was down. I didn't notice. I didn't realize that it was kind of like a depression time for the real estate. I was having a blast doing, I was a 22 year old kid having fun, just doing my thing, working and just meeting new people here. I think that's the best part.

And so, yeah, I bought that rental and that was it. Life changed as soon as I started renting that thing. So what did you guys rent out for a month? What were you getting for it? At the time, $1,600. Now we're almost at $2,700. Wow. For a month.

For what? $50,000? It doubled in value. Holy smokes. Well, more than doubled in value. You paid $50,000. It's worth way more than that. I was talking about the house. Oh, I thought you were talking about the condo. Well, the condo, it tripled. Okay. More than tripled. So you're crushing on that. You're splitting that with your cousin. Yeah. Well, that was his. That was his. That was the agreement. He let me live in it for free. Got it. That was his property. And then we bought this first one in Sunridge, and we still own that one together. Sunridge Heights. Sunridge Heights, yeah. And-

So how many properties did you accumulate before the whole Airbnb thing came around? I bought 13. 13 rentals. Yeah, 13 rentals. 85 years. All right. So let's talk about that because you're a dude at this time. So at some point you quit XS, right? Yeah, I quit.

This was a blessing. How many houses did you buy while you were still working in excess? Just one. Just one. Okay, got it. They laid us off. Ah. They laid us off because they were transitioning part of the nightclub. And then they did a rehire. And I was like, I'm not going back. Come out. I just loved real estate. I was hooked. So when you got into the real estate, so when you started working as an agent-

How, like you're buying 13 houses. How far below your means were you living based on what you're making commission wise? So I was making really good money at excess. We were making about a thousand dollars a night cash every time we walked in. So I was making really good money compared to being a teacher, but I'm a really good saver. I save my money really well.

And so I bought my own personal house and I kept saving and saving and saving. I was like, you know what? I have my lacrosse business now. I don't need to work at excess anymore. And then I saw like the green light at the real estate and I'm like, okay, this is where, this is my future, what I'm going to do here in real estate. And so I just went all in on real estate. Were you, were you burr methoding this? Were you getting your cash back out of the houses? What were you doing? What I was doing was I was finding investors in New York where I was from and I was,

Calling all my friends, family, look, these houses are cash flowing like crazy. The rental market here in Vegas, in my opinion, is the best market to rent, buy and rent houses. And so I just kept doing it. And I would partner with people, investors. I would say, look, I'm going to find the house. You put up the money or 50-50 split, and I'm going to run the rental. I run all my own rentals myself. I don't buy it. I don't let anyone else touch them.

And that's a little different from other people's model or. Are you a property manager or just. Yes, I am a property manager, but I do my own. Just your own stuff. But you got the license just to be safe because nice protection. Exactly. Smart. Okay. Yep. So I do that and I manage them all myself.

And I've had great success with it. So you were, so just to sum that back up a couple of things, I just ran by real quick that people might not know we're talking about. It's so hard when we get other real estate people in here that we start speaking jargon. Yeah. And then somebody listens like, what the hell did you say? Let's break it down for everybody. No, no, no. It's like the burr method, what we just talked about. Mm-hmm.

is essentially where you buy a house that needs a little bit of work. Let's say you've got to put 20% down. Let's call it a $100,000 house. And if that exists anywhere, let me know. It doesn't. Not anymore. I'm just using even numbers to make it easy because Colt gets confused quickly. So let's say I've got to put 20% down on a $100,000 house.

I put my 20 grand down. I buy it. It's a little beat up. I improve the house with about, let's call it $10,000. Now I'm $30,000 out. Now I get it reappraised. Yeah, refinanced. So now it refinanced out. So now the value of the house is 130 because the improvements that I made on it. I'm able to pull my original $30,000 back out. Yep.

Essentially, now I have the house sitting as it is, refinanced, putting a tenant in it with all my original money back out. That would be the BRRRR method. The method you're talking about, though. So I didn't BRRRR my first five. You OPM'd, buddy, which is even better. My goal is to pay off.

My first five rentals, free and clear. Okay. For protection purposes of those things, no matter what the market comes in, up or down, doesn't matter. Doesn't matter. That's my retirement. Okay. So those within those five houses, I would be, I would be netting. I would be bringing in more than my mom's retirement as a T. I would just be doubling it. Just on the five. Just on those five. So OPM for those, you don't know is other people's money. That's when you go out. It's one of the favorite words we use in real estate business is you find a deal.

Like you said, you basically find somebody to come in, put the money up, you do all the work and then you split the profits. So I'm not, I feel a little weird sometimes doing it like that. I always like to have my skin in the game. Sure. Right. So I always usually have a little skin in the game. Probably not as much sometimes as some of the other investors, but with my main investors, I always go 50, 50. Well, if you look right now, OPM is the name of the game in real estate investing because who's the master at this now? Grant Cardone. Oh, Grant Cardone. He's the best. Hey, we're good.

We're going to buy. We're going to buy all these units. We're going to cash flow. Don't buy a house. Send me your money. That's what you do. And yeah, he's the master. He's a smart guy with that. I don't know. I feel a little weird in my stomach when I'm always like I'm taking people's money, but I'm not putting my own money too. Yeah.

So I always like to put my own just to be well trade it only sucks when your money goes out and never comes back, right? I think something throw out there real quick is the whole grant cardone type of deal if you start pulling money from people Maybe you're not that close with you guys can be in a lot

of liability when you start losing people's money. So, you know, there's a whole different thing on what people are based on as an investor. And so be careful with that. Like if you don't know these people, you might want to consult them. Well, not to mention that, but I talk about it all the time. It's like, look, if you're going to go with OPM and you're going to go with people, you know, friends and family, if that deal goes south,

You got to make them whole or guess what? You're losing your friend and even go lose your family. That's a sound. But if not, you might be in a lawsuit and get some, you know, there's, you can get in some real financial issues using other people's money that are not considered accredited. Oh, sure. I'm pretty picky with my investors. I, I usually tend to go to people who understand real estate.

rather than other people who are not really accredited or advanced because it's a lot more difficult to explain to those investors rather than somebody like my cousin who's business savvy, gets it, understands it. It could go bad.

but it's a safer play. One of my favorite posts I saw, my buddy Steve Sims put this up and he's like, how you know you're, he's like the person, he's like the client that you don't want. He says like when they wire you the deposit, it's like, I've sent you the $10,000, no, the low ticket client, it said, I've wired you the $5,000. It is my expectation that our working relationship will be fruitful. However, you know, I expect you to take care of my, whatever it is, diligently, blah, blah, blah. And he's like, the high ticket investor, wired you the 100K, thanks. That is the life.

That's it. And you know what? That's a great feeling. If I called him right now and I said, I need 50 grand, he would not even question. Yeah, just be done. Done. Done. Show me the house later. And I think that's cool for me is I got to that point where I'm comfortable even asking. Well, but here's the difference because you built a reputation and you have a track record of success with them that enables you to do that. Well, we're going to come back in just a minute from the break and we're going to talk about Airbnb, which is why you're here. We've been talking about. Let's do it. I don't know.

I don't know. Is it nonsense? No, I don't think it's nonsense. I think it's all. Top five hottest guys out there that will steal your girls. I don't think it's nonsense. I'm trying to give a public service announcement. Keep your women away from these men. Exactly. Stay clear. Back in a minute. Awesome.

Hey, it's John Gafford. If you want to catch up more and see what we're doing, you can always go to thejohngafford.com where we'll share any links that we have things we talked about on the show, as well as links to the YouTube where you can watch us live. And if you want to catch up with me on Instagram, you can always follow me at thejohngafford. I'm here. Give me a shout. Back from the break, back from the break, sitting here discussing real estate, Airbnbs, Colt's hatred of John Stamos.

I'm like other things. I mean, there's things that are important. Yeah. There was, what did we talk about? Top five. Top five. Top five. I mean, I could go on. I'm sure you could go on. I mean, I'd,

I imagine you kind of lay awake in bed at night just like thinking about all the men could take your wife. Who would steal my wife? Do you have like a hall pass? You know how some married people have hall pass? Like, oh, if that person ever came, yeah, you're fine. No, I don't think so. I don't have that either. I hear that all the time. I'm like, I mean, mine would definitely be Shakira. Like, Shakira is so hot. She's so hot.

I don't think we don't, we don't have like a hall pass in there, but I think we both probably figured out like what the next day would be after that. Like, yeah. And then I can go here and do whatever I want. My wife's like, I can go to brunch. I can do whatever I want. It's just, I'm sure we've all, it's more, it's more like fantasizing about what you would do randomly the next day than actually like sleeping with somebody else. Like what, like what would I do? Like,

Like, I mean, I'd probably walk around the house with no pants on just because I could. You know what's so funny? So my buddy, he runs a big fund. He's like, God, man, do you know what would be so great? I'm like, what? And I'm like thinking, we've had some fun stories. And he's like, go sit by a pool, get blacked out drunk, just us two, and then be able to sleep in the next day and not have kids around. He's like, that would be fantastic.

like a dream to do. You pretty much just described traveling with Connell. Yeah. Pretty much what you just described. But I'm like sitting there like, how bad is that? That the dream is the, just to be able to sleep a hangover off. Well, just, yeah. What's your, what's your fantasy to have no one call me? That's all I know. That's all I want. Just not to have my phone not ring and not care for ring at all. That's it. Wouldn't that be life? So we're back with Jason Griggs, my dude, good friend of mine that, uh, that has become an expert at this Airbnb game here in Vegas, which is you,

which is exceptional in its own self because Airbnb is incredibly difficult to do here in Vegas. Like if you're listening to this, like why should I listen to this guy? You know, I'm afraid to ask him questions. I don't want to get them in trap. No, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no,

good shape. What's your bench? How much do you squat? That's what we're going to talk about. No, no, no, no. But his are all legal. So if you're in another part of the country, it's really an amazing business plan. A lot of guys I know in real estate are leaning into this business plan in other parts of the country. And it's definitely paying off. So

Back to you picking up the story we left off. You've got, how many rentals was it, 13 or 16? Yeah, so I have 17 total. 17 total. I have six short-term rentals. When did you start the short-term rental thing? When did that come up? When did that idea come up? About a year ago. About a year. About a year ago I got into it. It was presented to me by someone in our brokerage who created a system to manage him. Which is Sean Cunningham? Yeah, Sean Cunningham. Great dude. Great guy. And super smart, sharp.

And he showed it to me, show me once. And that was it. I was like, Whoa, this is some serious stuff. This is some serious money. I can do this. Yeah. And, and,

I was surprised he wasn't really buying them for himself. He created the systems to manage it for other people. And then I went out and I just bought. Just went crazy. I just went crazy. I bought as many as I could. So walk me through. Okay, before we talk about the system, let's talk about the money. So you've converted some of your existing rentals. No, I bought all brand new ones. All new ones. Okay, cool. All right. Yeah, I got it. Okay. So I bought new ones based on the systems he created of what will work and why. Single stories, single

four bedroom, three bathrooms with a pool, not near neighbors for noise purposes. Right. So not near neighbors, that's a clutch. So obviously you have to go through the HOA as well to make sure that they... No HOAs. No HOAs. No HOAs. So we stay away from HOAs. Yeah, stay away from HOAs. So you want them a little bit spaced out, at least four bedrooms with a pool. Now, for example...

just don't know your average house in that box that you've purchased, what would they rent for? If you rented them traditionally on a, on a, on a traditional basis, how much a month? So I think they're about four times a normal rental, maybe five on some of them. So 2000 a month, regular rentals, they're going for about 10 to 12,000. So you're getting four to five X a month, five X a month. Yeah. Colt. I just skipped. Wow. Yeah. That's crazy. Um,

Just go back real quick. HOA guys, you got to read through your documents. A lot of HOAs have 30-day limits. That's correct. Stuff like that. So just a little, sorry. Yeah. I mean, owning a house in an HOA is an issue anyway. I couldn't imagine doing a short-term rental within one. I mean, the neighbors and the people within HOA, they're not easy. There's no way.

So here in the Vegas Valley, if you will. Yep. So yours are all in Hendo, I'm guessing. They're all in Henderson. They're all in Hendo. Yeah. Because Henderson allows short-term rentals. Yeah. So here's a cool little stat. There's about 14,000 Airbnbs in Las Vegas. There's only about 400 that are legal. Wow. I think it's even less than that.

Wow. So what was the process like for getting these things legalized? So you need a license. You need a short-term rental license. You have to take a course, and then you have to apply for the license. Who's teaching the course? It's a college course. Okay, is it? Yeah. Dixie State University, they do it. Dixie State? Yep. This woman created a whole college course. Is this online? It's online. Okay, so Dixie State University. So Dixie State University. Do you think I could get some credits from Hooters University if I did that?

Dixie State's a real university in St. George. Oh, yeah. It's a party school. Oh, is it? All right. So it's a real one. It's not your hooters. Hey! We don't give a hoot about your hooters. Listen. Listen, dingy. I didn't say dingy. You did say dingy. Dingy. You emphasized the g. How would you say it? Dingy. Dingy.

Dingy. No g. Just dingy. Dingy. So you're still there. I can't talk to you anymore. The first G is really strong. Back to you. All right. So you go to Dixie State University. I take this class and the teacher owns them all over the country. She owns about...

At least one in every state she's in. So she's got it clocked. She's got it clocked. So the reason why she started doing that, she did this right from the beginning when it first took off 10 years ago. She likes to travel. And she loves to go and stay at her houses in every state. And she's producing income from all over the place. And the reason why I got started in it was because I saw...

Everyone was coming to visit. Didn't want to always stay in the hotels. There's not really a lot of hotels in that southern part of Henderson. The Fiesta closed. And everyone's coming for the lacrosse tournaments. I'm like, if I bought houses and rented them out to people. Are you promoting them to the lacrosse tournaments? I am. Oh.

See, Colt, it all comes together. This is how it works, man. It all comes together. So it works. All right, so go ahead. So you see a problem and you want to fix the problem. That's where a lot of businesses get started. And that's kind of the way I went with it. You find a need, Colt. You find a need. You got to find a need.

That's what happens. I found it, yeah. It's called Silicon Vernier. So Sean showed me the business, and I was looking at his properties. I'm like, I could remodel these and make them. I could blow them. Like trick. Yeah, I could blow them away.

And so I did one and he was like, wow, this is going to fly off the shelf. Yeah. And we kept doing it. And now I'm like, I just bought a 9,000 square foot mansion, which is the biggest one in Henderson. Yeah. See, that's what a lot of my guys are doing is they're buying the big bad boys. Yeah. But they're not legal. Right. So-

I officially have the biggest. No, not here. I mean, not here. This is in other places they're doing this. And I go to Arizona and I stay in Airbnbs and I love it. But yeah, so I house people who want to come to the bachelor parties for the business trips, whatever. And I think my houses are- Where'd you get 9,000 feet? Where is it? It's off of College Drive. Oh yeah, down by those churches. Yeah, yeah, yeah. And this house is like-

It was Slipknot's house. Got it. The singer of Slipknot. Got it. And he built this basement, and it's a whole compound. Basketball court, volleyball court. I'm like, if I'm coming on vacation. Self-contained. There's nothing around. Make as much noise as you want, go crazy. So we're remodeling that one now. That's going to be my biggest project. That's awesome. That's going to be a big one. That's awesome. Yeah. So 9,000 feet. So what'd you pick that up for, if you don't mind me asking? It's a public record. No, it's 1.4 million. And what are you going to put in it?

We're going to put about 170 into it. Okay. Got it. All right. And then we'll rent it for, we're hoping 2000 to 3000 a night. Nice. So what's the, so what's the, um, what's the formula? Some, as you said, four bedroom, three bathroom with a pool is where you look for. That's a necessity. Yeah.

So what do you, so I've heard a lot of the guys I know that are good at Airbnb say, look, you got to go this thing over the top. You try to make it interesting. You don't try to make it look like a home. Make it look like a cool hotel room is what you try to do. Do you have a designer you work with on this or is it just a gut? I have a great contractor who I really trust, Nick Marietta. Oh, there you go. He does all my stuff. Yeah, Nick's great. And I love him and he's changed my business twofold where I don't know.

I can't even nail it in a hammer. G-Rock. He does everything. He knows what I like, designs it. He knows what other people like. And so when you're scanning on these Airbnb lists. Dude, I got to tell you what, Nick. I don't know how he has time to do everything he does. It's crazy. And does it well. I mean, stellar reputation with what he does. He does a great job. Incredible reputation. He does a great job. He's turning away a lot of business now. Yeah, I can imagine. I got in with him at the right time. But yeah, he's turning away a lot of business. And he's expanding it to other businesses.

I buy houses from in Kansas City now. Yeah. I'm expanding this into other cities. Have you been to Kansas City? I haven't been there personally, but I'm doing an Airbnb there. A lot of moisture. Yeah. A lot of moisture in some of those homes. Different. Be careful. Got to give it a shot. Got to be careful. Yeah, I'm buying some of the markets too. I looked at Kansas City, but I didn't like the moisture. It rains a lot. It's cold. Yeah, a lot of moisture. Anyway. Yeah.

But no, and Nick's got a jet now. - He's got a jet, I've never seen him. - He invited me, but I had a kid, so. - You gotta go on the jet, honey, you gotta go on the jet. - I haven't been on a private jet. That's when I know I made it a little bit. - Is it? - I think so. - That's the line? - I think that's impressive, to go on a private jet. - It is, it is impressive.

Back to the Airbnb model. We got it down. So I buy this house. I figured it out. I've renovated it. I've made it cool. I mean, when it comes to furniture, are you going like Ikea? Are you trying to buy indestructible stuff? What are you trying to buy? Spare.

I would say that's one of my bigger issues right now is you want to go cheap, not too expensive. Interior designers are expensive. You want to go kind of middle of the road. I think the Ikea stuff is fine. But you want to make it like a nice big couch, sectional couch with some fun stuff around it. My big thing is games. I'm a big game guy. When I go to a house, I want darts, I want pool, I want beer pong, I want pool basketball. So that's, I put a lot of...

those type of things rather than the nicer decorations. Got it. Cause nobody cares about, I don't know if you've got a van, you've got a van go on the wall. They want to play pool. Right. That's what they're here. And you know, we're targeting bachelor parties, bachelor parties. Those are the things that those are people that are going to come use the house. So build a house in a way or design it in a way that it's going to be, it called it, it cultivates entertainment. Fun. If you will. It's a fun house. That's what we want. Would you go strip or pull on one?

We were thinking about it on the San Gabriel one, but there's going to be kids there sometimes. So we were thinking about it. It's tough. Are you not supposed to have strippers around? No, Colt. You're not supposed to have strippers around kids. It was talked about, and we decided not. It's like there's a playground back there. Yeah, I think you can't go stripper pole and playground. I think it's a little weird. Colt's like, man.

some say potato some say potato no strong thing but there are there's a lot of stripper balls in these airbnbs there you go all right so i've got my house renovated i've got it done i've got it set up and i'm going to put it up on airbnb now you need the license i need the license i get the license i've got this license you got to apply i've gone to so i've gone to dixie state college go to dixie state college and there's a map on city of henderson yeah you have to

check to see if I rush a fraternity do it will they let me in no this is like this is like going into the police academy it is okay and they you have to apply make sure that your house is not a thousand square feet within another house okay so you and I neighbors we both can't do it so that's the rub that's the

So you got to make sure that there's not an, is there a place where you can go and search for this or you just, there's a whole city of Henderson short term registrar. Yep. Okay. Search registry. Make sure you apply every year. You have to apply for this license. Okay. And they check and they come and they make sure everything's up to code.

Your fire safety, your pool's okay, pool alarms, sound alarms, all these rules that they put into effect to make sure that it's not a nuisance. Are they making you jump through hoops like that in Kansas City? No. No. There's no rules. Well, it's a big room. So with the Airbnbs, with short-term rentals, that's the thing. You want to find a good city to do it. Yeah. And I believe Henderson's a great one. But there's a lot of work involved. Yeah.

Well, let's get back. Now we're getting to the work. Because now I've got my license. I got my house. The mix is done. I'm getting ready to put it on the site. Obviously, you want to have professional photographs taken on it, just like I'm listening. I'll say this, Sean. The hardest part is you've got to buy this house, right, with the risk that you might not get the license.

Okay, that's where it makes it. Because I bought two and I got denied. So are you running the cash flow models as standard rentals too? Yes. You have to. To be super protective or flip. So the two that you bought that you didn't get a license, why didn't you get a license? Because somebody in the neighborhood applied for me. Oh, true.

You didn't know that because you can't see the pending. You can't see anything pending. You can't see the applications that are going to the city. You can't go? I flipped one and I kept the other one. It's kind of like if you're at a party, Colt, and your wife goes to the bathroom, you don't know if John Stamos is in there. You have no idea if he's in there. John Stamos could be in there. You don't know. I don't think my wife would like John Stamos. Really? No.

I don't think so. Can we call her and ask? I mean, kind of. I'll call her and I'll call her. Go ahead. Yeah, we've never done this on the show. I'll just put her on speakerphone. You're a bad boy here. All right, keep talking. We're going to call Colt's wife and ask her if she likes John Stamos. And we'll go from there. And yeah, so you got the license. You got to pull it right to the mic though when she comes on. Oh, she's going to hang up on him for sure.

Quick question. Put her on speaker. You're live here. Don't say nothing stupid. Don't say nothing. Now you're on speaker. There she is. Would you leave me for John Stamos? I said no. I think you would. No? No. Okay. That's a great way. What about Leonardo DiCaprio? She's going to say no again. But you know what? You could throw out like some, who would you leave me for? Who's your top three? Tom Hardy. Tom Hardy. Tom Hardy. See, she doesn't think about it. She comes right up with it.

that's it so just tom hardy yeah what about those guys that come down crooning the the spanish music none of those guys all right no okay all right good talk good talking thanks a lot i told you i know oh my god she's gonna be she's gonna beat you senseless when you get home now i know that's who i need to look out for that's right tom yeah tom hardy could be at the fire isn't tom hardy

No, who am I thinking of? He's Bane, right? Bane. Bane and Batman. I don't watch any of that stuff. Neither do I. I just know that. Do you ever see Star Wars? No, I'm not a Star Wars guy at all. Have you ever seen it? I've seen it. Because who hasn't seen a Star Wars movie, right? What kind of total psychopath would never have seen a Star Wars movie? I've seen it. I'm just not into that. The comic thing. He's never seen a Star Wars movie. Oh, really? Ever. I'm a sports guy. He literally thought at one point the guy's name was Dark Vader.

That's what he thought. And he believed that. Is that a better name for a villain? Yeah. Oh, Jesus. Jason, you're making this worse. I appreciate it. You're going to make it worse. I'll roll with him a little bit. You're going to make it worse. All right. So I got my license. I got this done. We get it posted. We get that done. But let's back. Oh, so the houses you got burned on because you can't see the register. You got to be careful with that. You got to be careful. So luckily, Nick-

he saved me on this one where he's like, we're going to remodel it, but not totally go all out. Just to get you out. Just to get me out. Yeah. That's one of my favorite things in real estate in business is everybody buys their refrigerator once in a while. And the scale of what you, how big of a refrigerator can vary. Yeah. I got lucky on that one because the market just shot up. It was in April. Yeah. Three months to August. And yeah,

We did okay. We did well on the deal. That's good. I got to thank him for that, though. He really helped me. Yeah, that's good. Well, he's flying in a jet. I think you probably think I'm like, yeah.

We're helping each other. He helped me big time. That's how it works out. So now I get it up. I get it posted on Airbnb. Yep. And for those of us who have no idea, so I've got a calendar I put up and I put my availability for the house when they can check in and check out. How do you manage... Walk me through managing this bad boy for me. So I'm not involved really in the managing of it. I let Sean do everything. Okay, so he physically takes care of it. It is such a science, this business, to...

How much you're charging per night, when to list these prices, how much to charge for replacement towels, like all these crazy things you would never think of because you're basically running a hotel. Yeah. And people break things and then they cancel. And so my job with this is to find the houses. Yeah. That's what I'm good at. I'm good at finding these things. I'm good at getting them on the contract and buying them. Well, you know, I've heard from other folks that I know in there in my circle that do a lot of this.

That they, what they want to do is they want to have somebody essentially, they try to hire like the house cleaners that are available 24, seven, seven days. And they become kind of the de facto house manager. Yeah. Yeah. You need those people to run this business for you.

And so I've, Sean has all these systems created that I don't even care how he did it. What's it, what's it like on the back end of things? They work. I've seen them work. I trust that it works and I trust him because he runs it for me. Yeah. So, so literally as this gets going, cause if somebody checks in the house, I mean, we've all done Airbnb at this point. So if you have, you're living under a rock, but if there's no hairdryer, if there's no, yeah, you're pissed this. Yeah. You make a phone call to the house manager or whatever. And somebody has got to run that stuff over there. We'll go pick it up.

And I know guys that have hundreds of these and they do it through Airbnb arbitrage, which is a whole different thing. That's a whole nother animal. And for those of you who don't know what that is, essentially that's where you go in and you rent a property from a homeowner and then you essentially just Airbnb it. And how they kind of get away with it is, and it's pretty slick actually. It's a very slick model. I think more and more owners are getting savvy to it, but I think how they present it

This is one of those things where I tell people that,

There are some lines, I think, where you can be a licensee in the things you can say, and then you should not be a licensee if there's some things you're going to say. This goes into that you probably shouldn't be a licensee deal and try this, the arbitrage game. I don't think that that game is going to last. Here's why. Because the city of Henderson, we pay a tax of our profits to the city. With those people, they're not paying a tax to anybody. Oh, and they're going to end up leaning the properties. Well, the cities are going to catch on. And they're going to be like, we're missing out on all this money that could be made here.

and all these people are doing this kind of, it's not, it's kind of like a under the radar type deal and they're going to want their cut. And once that comes in, because you can't, you can't arbitrage here in Vegas. No, no, you cannot. You cannot. There's no way to do it. Because for your license, you need to own your house. Yeah. Well, for these guys, what they're doing is they're going to the owners of these homes and other markets, not this one. And they're saying,

You know, hey, Mr. Home Seller, we bring in a lot of corporate housing. We do corporate housing. We bring in executives here to train and this and that. Would it be okay if we used your property for corporate housing? And they sublease it out. And then they do the Airbnb. But they said, you know, then there's a couple of rubs. I don't know if you follow this. Do you even have anything to do with the booking of your property? Is it all, Sean?

All Sean. Okay. Because these guys are like, we will not book to anybody with a local address. That is in effect with ours. Absolutely not. If you're local, we're not booking because there's a reason you want to come wreck my house and not your own. Correct. We won't do that. And they look for party sizes and just different things. They look for the age of people renting them. There's a lot of- You're vetting your tenant just like you do with a regular rental. Well, and trust me. Well, no, no. Because some of the stuff they're using to vet, you could not use to vet them at a regular rental.

You can't say, well, you're a 22-year-old guy. I'm not going to rent to you because that's a protected class. But again, that goes back to in that arbitrage game, you're walking a little bit of a fine line as to what you're really going to do and what you're really doing. So if you have a license, you're going to get zapped with that. If you don't, you're not. Yeah. It's being promoted like they teach it. You could buy a course doing it, but that's not the real business of Airbnb. Yeah, the whole thing. You can buy a course for everything. Yeah.

You use Sean to handle all your stuff. What's his cut of what you do? Every house is different. It's based on the house size. The bigger ones are a little bit more. They're more work. And then we have our team, his team also, that handles the day-to-day operations. And he's just like a P&L for a business. He's just billing service to that. It's ran so smooth. You're very hands-off. You can be involved if you want to. Yeah.

I choose to let him handle it. Yes, of course, anytime you give me hands off for five, but you know, because here's the thing, as soon as I heard 4X, 5X, my immediate assumption was, well, here comes the work. You know, because like anything else, the less passive an investment is...

the more you're going to make. But, but so I'm waiting for the, okay, yeah, I got to run towels over there at midnight. I got to like the pool heater won't work. I got to run over there and deal with it. I feel like his fee is very fair. What, what percent, if you had to average it, I would say around 20 to 22%, 22% of your gross goes into that, goes into that. Yes. So you, you know, 22% of your gross goes into management, which I think would probably be about the same if you, if you hired cleaners and did everything about the same. Yeah. I mean, yeah,

I thought about it like if I did this myself, but then I'm like, why? Why? There's no reason. I can't go to five different pools at one time on the break. So yeah, 22% professional handle. I would say, I would say that's very fine with that. I would say that that's a, that's a very smart, smart way to do it. So 22% goes that what percent goes to taxes? They take about 13%. Okay. 13% city of Henderson. All right. What about the, what about the booking fees through? We try, we, we charge the tax to the, to the,

or the visitor. That's what we call in the biz a pass-through fee. Yep. Pass-through. I'm looking. This is how I'm already kind of hot. You're still, you're literally sitting, we're talking about Airbnb and you're obsessing over the dude that's going to steal your wife. I,

Maybe I'm not her type. We're nothing like life. No, Tom Hardy's a badass. All right, well, I'll give her that. Sorry to cut you off. I actually met Tom Hardy at Excess. Did you? I did. Oh, great. So now he comes to Vegas. He comes to Vegas, yeah. And he's a big dude. Is he? Yeah. I'd kick his ass, too. You know what? Here's a text I just got. Never mind on Tom Hardy. She passed on Tom Hardy already? In English. I couldn't deal with the accent. Sorry, Gavin. Yeah, quick.

Back quick. She passed it. There you go. You're back in the game. Now you're back in the game. You're back in the box. So we can focus. Are we talking about making money? What are we talking about? Where were we? I'm sorry. I'm sorry. What a Tom Hardy time warp. Yeah, I got depressed. Thought my life was over. My wife's leaving me. Sorry, guys. It's all right. All right. So 13% minutes of pass through tax goes from there. So your percentage net net on what you bring in every month is pretty high. Pretty good. It's a good, very good return. Yeah.

The last part is the utilities and how much electric they use, water, gas, all those things. Would you say you're still 70, 75? That's right. It's a little less than 75, around the 70 mark. There you go. That's great. No, it is great. And you've got, obviously, you have their credit card through the system, so everything is damaging. It does that. Everything is damaged. They get charged.

And Sean handles that side of the coin too. I'm never running out of gas for refunds. You guys have nightly minimums? Yeah, so that's the whole science behind this business. Because the weekends are the bread and butter. So what he's figured out is where you charge a little less for the weekends, but you get them that fourth night. You get them on that Thursday or you get them on that Monday and it's like you get them a whole extra day.

And so there's a whole game of science that goes behind figuring that out. And isn't there, isn't there like a, there's a program where you can pull like the hotel rental rates and see what they are. Yeah. Then there's the air DNA got released. That's pretty accurate. They show you every Airbnb in Vegas and Henderson. So, you know, your competition throughout the nation, throughout the nation. And he's constantly moving and flexing that pricing. Yeah. And, and what's, it's what sucks is that you,

if you want to look at Vegas as a whole, Vegas and Henderson, you have to pay per city. It's not just one area. So you have to pay the 60 bucks a month for Vegas and then the 60 bucks a month for Henderson. But Vegas isn't open yet.

But it's coming. You told me that. You said it's coming. It's coming. It's coming, which I was shocked. It's coming. I was shocked. They made a state mandate about it where the hotels, they don't care. They want people to have these things. I was absolutely shocked that that got done. Are they going to do it the same way Henderson is? Because they started out allowing it with licensing, and that shut down real quick. Yeah, they're –

I like the city Henderson model. I think it's good. A thousand feet, you know, and it won't get oversaturated and they're, they're cracking down on the illegal ones. So all those people who are crushing it for these past few years, they made their money, but now they're kind of sweating a little bit. The fines are ginormous to a thousand bucks a day. It's on the one guy in rancho circle, like years ago, got hit with a hundred thousand dollars. Yeah. Yeah. Because they give you a warning. And then if you keep doing it, they bang you. Is that, yeah. Oh goodness. Yeah. That's terrible. Yeah.

well dude fascinating man absolutely fascinating and i'm telling you if you are in the house owning game you might want to take a look at uh getting the airbnb deal because four to five x's that's ruthless yeah it's great but i think my the teacher of the course she had it right where you can use these things to your advantage and you could help family members i don't want to visit you could you could essentially run the business however you want to i think that's the coolest part about it what's it yeah because i mean you look at like my situation at the beach like we own a house at the beach

We own it with several other people. There's like seven of us. We didn't want to rent it out because it's a nice house. It's several million bucks for this house. And we didn't want to rent it out. But now, I'm kind of like thinking, yeah, maybe instead of money going out all the time, maybe money's coming back in. And a lot of the guys that I hang out with, they're buying multimillion dollar properties in Arizona and different places they want to go.

just because it's what they want to do. I think once you get over the fear of like somebody else in your house, like I know some people have that. I would never sleep in the same as somebody like it's, it's a bed. You change the sheets. It's okay. But, but that business is sleeping. Well, you sleep in a hotel. Right. Exactly. I don't know that the, the money in the, in the business part is, is,

why I'm doing this. Yeah, no, it's crazy. Well, dude, I am in I'm proud of you. I think it's awesome. I wish I wish more more agents would jump in and work in the business instead of just around the business. If you're listening to this man, and you're thinking, Why am I not doing that? If you know, I'm a real estate agent, why am I not buying property?

First things first, man. Start with the basics. Get your house in order. Pay your taxes. Learn how to run your business like a business. Start saving money. Live below your means. Start investing. And then you can be like, my man, Jason. Yep. I'm a product of it. And dominate and dominate. Well, anyway, guys, Jason, thank you so much for joining me. Colt, I'm sorry you got upset. I'm sorry. No, I'm happy. She said no. She's...

He's back. Maybe she's lying to you, but I'm just going to leave it at that. Well, if you like what you heard today, man, make sure to tell a friend. If you're listening to us over on the Apple, give us a review. Give us a five-star. Give us a comment. It's lovely. And yeah, if you like us, tell a friend. If you hate us, tell two because it doesn't matter. If they're talking good about you, what is it, Colt? As long as Tom Hardy's not there. As long as Tom Hardy's not there. See you next time. See you next time.

Hey, it's John Gafford. If you want to catch up more and see what we're doing, you can always go to thejohngafford.com where we'll share any links that we've things we talked about on the show, as well as links to the YouTube where you can watch us live. And if you want to catch up with me on Instagram, you can always follow me at thejohngafford. I'm here. Give me a shout.