In this episode of Building Great Sales Teams we have Quentin West. Quentin West is a successful real estate investor, short-term rental coach, and serial entrepreneur who started his career as a full-time real estate agent. We'll learn from Quentin about his expertise in Airbnb arbitrage and real estate investing, as well as his personal mission to make a positive impact in the world. Enjoy!
Join us as we sit down with Quentin West, a Real Estate Investor, Short Term Rental Coach, and Serial Entrepreneur. Quentin started his journey in the real estate industry as a full-time agent with no prior experience, but with a strong determination to succeed. Despite the odds, he exceeded $100,000 in sales in his first year and invested all his profits into real estate. He then pivoted to Airbnb arbitrage and transformed his rentals into highly profitable Airbnb properties. Today, Quentin's Airbnb empire generates over $130k per month and he coaches others to do the same.
In this episode, we'll dive into Quentin's expertise in Airbnb Arbitrage and real estate investing. He'll share his experiences, business ventures, and real estate knowledge with us, as well as his personal desire to make a positive impact in the world. Tune in to learn from one of the leading figures in the Airbnb and real estate investment space.
You can find Quentin on social media @qdealshomes on Instagram and all other platforms. He also runs a Facebook group called One More Door | Real Estate Tips For Serious Investors where you can reach out to him and learn more about his work.
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Speaker 1
All right.
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Speaker 2
Great experiences. Build great leaders, great leaders, build great teams. This is building great sales teams.
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Speaker 2
All right, guys, welcome back to building great sales teams. I got a good one for y'all today. I've got Quintin West on the podcast today. He specializes in Airbnb arbitrage, real estate investing and finance. Quintin, welcome to the show.
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Speaker 1
Thanks, Doug. I appreciate the intro.
00:01:04:06 - 00:01:25:12
Speaker 2
Yeah, absolutely brothers. So you know, our show is called Building Great Sales teams. But the beautiful thing about that is is there's a lot of things that go into supporting sales teams as well as, All right, when my guys start making money, what should they be investing in? What should they be doing? And can I provide them a source to get the education on that?
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Speaker 2
So one of the things that we do internally or that we've done internally in the past a lot is we brought in experts and had them did an hour training. And in your case it would be like Airbnb arbitrage, right? And then everybody would record or we would record that training and then and then included in our development programs for our salespeople so that they could invest personally themselves know I'm saying.
00:01:48:01 - 00:02:02:11
Speaker 2
So it's like the 2.2 and the 3.0 of developing them as a salesperson and giving them kind of that investing outlet. So I wanted to kind of walk through some of those things with you today. So you also have a Facebook group that's pretty popular, right?
00:02:02:27 - 00:02:12:23
Speaker 1
Yes. Yeah. One more door. That's what it's called over everything from Airbnb to multifamily investing and anything between Fantastic.
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Speaker 2
You know what one more door means in my business.
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Speaker 1
Now, what does it mean?
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Speaker 2
So it's a I guess it's a motivational conversation, you know, So you're out in the field and in this case, it's door to door. So, you know, I spent 13 years in door to door to door industry. And, you know, we had campaigns for AT&T, for Direct TV, Verizon. It'd be telemarketing, you know, all that stuff, but mainly door to door.
00:02:40:28 - 00:02:57:22
Speaker 2
And so what we would tell our guys whenever they're getting down on themselves, they hadn't had a cell yet that day. You know, they were in, you know, 100 degree weather or whatever the case is, especially when we were in cable, we would always tell them, Hey, there's a $100 bill behind the next door. You just got to go knock on it, you know?
00:02:57:22 - 00:03:16:16
Speaker 2
So the the mantra was always one more door, you know, whenever you were feeling down or whatever the case is just in your head. You know, people say one more step, one foot in front of the other, and to focus on the micro wins, I got to knock on one more door. Yeah. And so when I when I saw your Facebook group, I was like, That's perfect.
00:03:16:26 - 00:03:23:04
Speaker 2
I got to get this guy on the podcast because he's on the same frame of mind. So tell me what one more door means in your business.
00:03:24:03 - 00:03:47:27
Speaker 1
Yeah. So for me, it kind of started from Ed might let Listen to him give us I give a speech about going the extra mile, taking one more step, doing one more rep in the gym, doing one more cold call and that started with me in real estate sales. You know, kind of related to what you're talking about, I would do a lot of door knocking.
00:03:47:27 - 00:04:05:08
Speaker 1
I would do a lot of cold calling. And it was always, you know, doing one more. And, you know, a lot of times it was just that extra step that I took that got me to results. And I've got a you can't see it, but I've got a plaque right here that is our next goal, which is 10 million a year.
00:04:05:21 - 00:04:32:08
Speaker 1
And at the bottom it has just one more, which is a motto I like to live by going the extra mile and for the concept going into our group, it's, you know, getting one one more door. It's kind of touching the base of real estate being an addiction and it adding so much to your life and what that one more door can do for your life.
00:04:33:19 - 00:04:42:18
Speaker 1
And also having the mindset of, you know, going the extra mile and and pushing yourself for more. So that's where I got that concept from.
00:04:43:16 - 00:04:56:24
Speaker 2
I love it. So Ed Mallett just came out with that book, right? The Power. One more. Yeah, yeah, yeah. I've got to. I guess I have it at the house. I was looking around, I was like, I know I have that book, but yeah, it's it's at the house right now.
00:04:56:24 - 00:04:57:11
Speaker 1
I gotcha.
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Speaker 2
I read like six books at one time and then another two on Audible. So it's like I never it takes me like six months to finish a book.
00:05:04:25 - 00:05:19:05
Speaker 1
I'm the same way. I just skim through. I look at the, you know, the chapters, figure out which one I want to read first, and then they'll tell me if I want to continue and finish the book or not. I'm I'm definitely the same way now.
00:05:19:05 - 00:05:24:09
Speaker 2
I love my Lord. I saw him for the first time at MDM last year. Were you able to go?
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Speaker 1
I was there, yeah. Was my favorite speech of the whole that I loved it.
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Speaker 2
You know, I really did like his speech, but I got to go with my man Eric. Eric, Thomas.
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Speaker 1
Eric Thomas.
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Speaker 2
Yeah, and hip hop preacher like that.
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Speaker 1
Dude, I like my soul, you know?
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Speaker 2
Yeah. Whenever I was running, whenever I was running my marathon, I was listening to his book.
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Speaker 1
Okay.
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Speaker 2
I finished with David Goggins before my apple died, and then I had nothing.
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Speaker 1
I gotcha. Yeah, I, I definitely want to run a marathon over and a half marathon with a Spartan race, which is not so much all running. It's more physical challenges. I don't know if.
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Speaker 2
You've ever imagine. Yeah, I've seen, I've seen. I haven't done it, but I've seen the Spartan races, Tough Mudder, like all those different ones. Yeah.
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Speaker 1
It's a ton of fun. It is absolutely a ton of fun. I mean, even if you just want to start with, you know, the smallest one I think is a5k, but it's it's a lot more fun than just, you know, running the entire time. I got me into it. The running is I'm 80 de so running a full marathon.
00:06:39:27 - 00:06:44:21
Speaker 1
I'm sitting here thinking about everything that's going on and not so much on the running.
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Speaker 2
I'm the same way I overthink. That's why I listen to audiobooks, because then I have a very creative imagination so I can visualize what's actually happening the book most of the time. So it kind of engages the creative part so I can kind of zone in on the running, right?
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Speaker 1
Yeah.
00:07:00:27 - 00:07:04:18
Speaker 2
I read that. So you've been in real estate for seven years now as I write.
00:07:06:09 - 00:07:29:21
Speaker 1
About five in total. Okay, So I'm 24. I bought my first house when I was 19. Wow. And at the time I had no intention of going into real estate full time. And then right as I slowly started striking out in other areas of my life, I kind of fell back on that because I saw the consistency and the potential behind it.
00:07:30:12 - 00:07:45:25
Speaker 2
Absolutely. So. So once you bought your first house, what was the evolution after that? Was it more just being a realtor or were you already starting to invest? Did you, you know, kind of rent out some rooms in that house in college? You went to Virginia Tech, right?
00:07:46:11 - 00:08:13:09
Speaker 1
Yes. Yeah. So one of my dad's best friends passed away and he this was his house. And my dad was kind of the one that pushed me towards that decision because at the time, I had no plans of investing. And to buy that house, I spent every dollar I ever saved up. I think I put in around 16,000 at the time to buy the house, which was a great deal.
00:08:13:09 - 00:08:17:10
Speaker 1
He didn't know any money on it and it was kind of left to his dad.
00:08:20:00 - 00:08:49:08
Speaker 1
So the there's a lot of steps in between. But essentially I went to college as an engineer and found out within the first six months that, you know, I didn't know what I signed myself up for. High school was easy, but when I got to college, just the intensity of the studying and everything, I had to force myself to learn, even though I had no real interest in it, just did not sit well with me at all.
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Speaker 1
You know, I didn't see the the application in real life. And on top of that, they were preaching to me. You know, you work for the next 4 to 5 years and you get out and make $60,000 a year income. And my idea was more along the lines of 60,000 a month at the time. So I was sitting there thinking, this is like the total opposite of what I want to do.
00:09:19:10 - 00:09:33:16
Speaker 2
Where did you even get that that abundance mindset from, though? The the idea that you could graduate college and make 60 grand a month, I mean, nobody owned 95% of population is not thinking that. They're thinking, oh, I'll take that $60,000 job all day. Yeah.
00:09:34:04 - 00:09:56:21
Speaker 1
Yeah. So I, I never I never knew how I was going to get there. I just knew that 60,000 a year was not an option for me. I was going to get there, get to 60,000 a month or more, kill myself trying because I didn't want to live an average 9 to 5 life like everybody else. Right? But that mindset definitely came from my dad.
00:09:57:18 - 00:10:09:23
Speaker 1
He's always on his own business. He does construction and once I dropped out of college, I worked for him for a short period of time before I decided I didn't want to do that either.
00:10:09:23 - 00:10:22:17
Speaker 2
What happens it I'm hoping it doesn't happen with my daughter. She's already talking about she's going to take over the business. And I'm like, Yeah, you get bored watching me work for like 5 minutes, but we'll see. She's 12 now, So.
00:10:23:12 - 00:10:41:27
Speaker 1
Yeah, I think that was just I think the problem is, you know, as kids watching your parents, you know, work in their business, you see all the things that they're doing that you would do differently. And, you know, unless they just absolutely got it made and are living on the beach and their business is running on cruise control.
00:10:42:12 - 00:11:08:19
Speaker 1
But, you know, my dad is I mean, to this day, he's working hundred hour weeks. He's up early in the morning, working late at night, working on the road. So he I mean, he is a grinder and stuff that where I get my work ethic from. But I knew very early on that I didn't want to have to work like that forever, even if I had to early on, that was okay with me as long as it was temporary.
00:11:09:00 - 00:11:33:23
Speaker 1
Right? But I kind of live with the mindset of, you know, figure out what your dream life looks like and then work backwards from there. What kind of business do I need so that I can, you know, spend more time with my kids so that I can live on vacation if one if I want to? And that's kind of how I've structured everything to to kind of fire myself from the positions that I don't see myself working in long term.
00:11:34:03 - 00:11:57:25
Speaker 1
Mm hmm. But, you know, going back to the the work ethic side of things, you know, it's definitely my dad. He's always pushed us, even as a young kid, 12, 14 years old. If we slept in after eight, 9:00, he was hard core. He was dragging us out of bed telling us we're not going to accomplish anything in life if we kept on the path that that we were, you know, going on.
00:11:58:07 - 00:12:05:13
Speaker 1
And that, of course, bled into, you know, my adulthood and in the way I go about life and business.
00:12:05:13 - 00:12:15:07
Speaker 2
Fantastic. So you just buy your first you just buy your first house. 16 grand for any house. Still. I mean, it.
00:12:15:07 - 00:12:17:05
Speaker 1
Was the old. It was.
00:12:17:14 - 00:12:23:26
Speaker 2
But I guess as fast forward, did you finish college or you decided, hey, this is enough for me now?
00:12:23:26 - 00:12:45:12
Speaker 1
I went for a year and a half and then I was already struggling to keep up with everything. And one day I had a matisse that I just totally didn't know about. I don't know if I missed the class and I showed up and they said, Oh, we have a pop test or whatever it was. But I had no idea what they were talking about.
00:12:45:16 - 00:13:08:10
Speaker 1
I had no idea. Like it was a brand new section of Algebra two and I end up getting a 33 on it. And I think I just went through and was like A-B-C, you know, just just guessed because I had no idea. And at that time I decided, you know, I'm this is a day, you know, I'm dropping out.
00:13:08:11 - 00:13:31:27
Speaker 1
This is not something I want to continue doing. I was depressed. You know, it was totally unhappy with everything that was going on in my life. So, of course, my parents were disappointed in me. I moved back. I worked for my dad for about a year, year and a half, and had a couple of close calls on the job site where guys are just being stupid with heavy equipment.
00:13:31:27 - 00:13:55:07
Speaker 1
And I was, you know, inches from getting very hurt or killed. I swung a crane into a power line. I don't know if you've ever seen a video. What happens if you leave them on the power line? But the entire crane will catch on fire and explode. Oh, wow. And luckily I got it off, but I could feel like all the electricity going through me and.
00:13:55:23 - 00:14:15:00
Speaker 1
Yeah, yeah, it was scary then. But, you know, after all that stuff happened, I was like, you know, I got to get into real estate. Yeah, that was what I decided. You know, the best way to do this, you know, I know I can't just start buying houses and become a millionaire and quit my job, But I can.
00:14:15:08 - 00:14:39:05
Speaker 1
I can jump in as a real estate agent. I can learn. Learn everything from the back end, work with other ambassadors, learn from them, and then make money while doing it. And then I can, once I start investing more and create more of more income from my real estate, then I can quit my job as a major. And that took me about two years.
00:14:39:06 - 00:14:48:04
Speaker 1
I worked as a full time agent. I was door knocking, I was sitting out direct email.
00:14:49:16 - 00:14:50:06
Speaker 2
So is this just.
00:14:53:03 - 00:14:58:11
Speaker 1
A little bit of everything? Honestly, I didn't know exactly what I was doing. I was just doing it all.
00:14:58:12 - 00:14:59:10
Speaker 2
Spraying and praying.
00:15:00:02 - 00:15:22:17
Speaker 1
Spraying and praying. If if it worked out. I did it for, you know, a couple more weeks and then I jump to the next thing. If I could go back, I would I would know better what to do. But it was working for me. But it was a very hot market, so you didn't really have to know what you're doing as much as long as you were willing to put in the hustle you call those properties.
00:15:23:12 - 00:15:49:17
Speaker 1
So I made six figures the first year and I dropped every penny, every penny in more into real estate, bought a couple of houses. The second house I bought, I bought for myself to live in and it putting like 1500 dollars down after I got my commission and a seller concession and I used a FHA loan and then I fixed that house up as a foreclosure.
00:15:50:03 - 00:16:12:06
Speaker 1
So I've built in like $33,000 in equity. By the time it was done you took out of he he lock I bought two more houses and then that's when I learned about Airbnb and I started Airbnb in that first house. I moved back in with my parents because I wasn't making a ton of money at the time and things were things were going the best for me.
00:16:12:27 - 00:16:22:11
Speaker 1
And Airbnb just took off. You know, I started making 1500 a month on the first house that I opened up. The second one, I was making 1000 to 1500 profit on the second one.
00:16:22:21 - 00:16:29:25
Speaker 2
All right. So you always see all these numbers thrown around. And I never know, is is that the gross or are you talking that.
00:16:30:14 - 00:16:31:17
Speaker 1
I'm talking net? Yeah.
00:16:31:17 - 00:16:36:02
Speaker 2
Since you're making 1500 on one house. Yeah. It's fantastic.
00:16:36:20 - 00:16:57:29
Speaker 1
Yes. Yeah. So we were making 3000 to 3500 a month gross on each house and then I just grew it from there. But you know, at that point, after I bought like those two extra houses, my credit was terrible because I, you know, taken out loans and been running my credit and getting credit cards to fill the properties.
00:16:58:13 - 00:17:33:01
Speaker 1
Yeah, I didn't have a ton of money. You know, they were saved overnight. Yeah, absolutely. Absolutely. Even though I was making good money, you know, my debt and me being a beginner real estate agent didn't help at all. And then we went in the cupboard a little bit after that, which, which didn't help either. But anyway, I was trying to figure out a way to grow my portfolio by using what little I had without running my credit and without needing a lot of money.
00:17:33:18 - 00:18:02:22
Speaker 1
And one day I learned about arbitrage where I could rent a property and then sublease it using Airbnb. And I'm the type of person where as soon as I learned something new, I, I right. Then I drop everything. I'm doing it, I implement it and, you know, kind of learn from there. But it out, it worked. You know, within the first week I was sitting at a table with an owner and we signed a lease and that was three years ago.
00:18:02:28 - 00:18:19:00
Speaker 1
I've profited 1500, 1800 a month on that property every month for the past three years and just grew it from there. And now we're at 37 properties. I'm doing arbitrage and we manage a few for other people.
00:18:20:01 - 00:18:27:10
Speaker 2
Okay, so you got levels to your real estate game right now. I imagine you still have your real estate license.
00:18:28:08 - 00:18:32:27
Speaker 1
Yes, but I don't sell I don't sell anything anymore. Only the deals that I buy or sell.
00:18:33:03 - 00:18:42:24
Speaker 2
Yeah. So that's what I mean. You're you're retaining that commission and then you got real estate license and then you've got properties that you own. That's your Airbnb?
00:18:43:18 - 00:18:45:06
Speaker 1
Yes, I'm for properties.
00:18:45:18 - 00:18:58:21
Speaker 2
Right. And then you're doing the arbitrage. Yeah. Just the main part of your portfolio. Right. Yes. And then, and then the last piece is, all right, since you're managing your own properties, I imagine, or use, are you subbing that out?
00:18:59:16 - 00:19:08:21
Speaker 1
No, we, we manage it. We have a team of 20 people, so we have 13 cleaners, maintenance keepers, code collars. We have we have it all.
00:19:09:02 - 00:19:10:22
Speaker 2
So your business is localized then?
00:19:11:14 - 00:19:11:26
Speaker 1
Yes.
00:19:12:04 - 00:19:36:20
Speaker 2
Okay, fantastic. So, you know, most of the stuff that I've heard about this is like there's not that great of margins because you're subbing everything out. You know, I'm saying. So, you know, I've got some friends that have property in Medellin, right? And it's part of an apartment complex or like a condominium building. And they've got to the two of the condos in there and their arbitrage unit.
00:19:36:20 - 00:19:53:04
Speaker 2
But it's like, you know, not the big margins. Everybody's talking about because they're not the owner, they're not the property management company. And and they're having to do it remotely, you know, so and so I would imagine if you're trying to get into this business, doing it locally helps a lot.
00:19:53:09 - 00:19:56:02
Speaker 1
Yeah. Yeah, it definitely does help.
00:19:57:24 - 00:20:06:01
Speaker 2
And so so Stores is what you're specializing in now and then. Are you coaching other people on how to do that as well?
00:20:06:29 - 00:20:29:07
Speaker 1
Yeah, Yeah. So I started coaching about a year and a half ago, you know, taking on some local people that saw what I was doing. And obviously they want to they want to do it as well. Everybody just started talking. You know, once I live in a very small town, you know, the I didn't know anybody growing up that made, oh, you know, 200,000 a year.
00:20:29:18 - 00:20:36:29
Speaker 2
You're in North Carolina, right? Yeah. Okay. Yeah, I just got off a call with my clients, and they're actually in Jacksonville.
00:20:37:21 - 00:20:39:25
Speaker 1
Okay. Yeah. Not too far from us.
00:20:40:02 - 00:20:41:13
Speaker 2
I'm going to go visit them next week.
00:20:42:04 - 00:20:42:17
Speaker 1
Okay?
00:20:43:04 - 00:20:49:14
Speaker 2
Yeah. So we get in early enough. We should get together for. I don't know. How far are you from?
00:20:49:14 - 00:20:53:05
Speaker 1
From Jacksonville? I don't know. 45 minutes to an hour. Okay.
00:20:53:10 - 00:21:25:08
Speaker 2
Yeah, that's not bad at all. Maybe we can find a spot in between. Yeah, I told them that we were definitely to go to dinner, and I typically round up all the apex and RV people and get them, get them to a dinner or something like that. So that'll be cool. Yeah. Well anyway. Yeah. But anyway so you know, obviously we want to kind of bring it around back to sales teams and so one of the things that I would encourage, you know, anybody that has a sales team to do is bring in real estate experts, right?
00:21:25:14 - 00:21:39:11
Speaker 2
Yeah. So you got these guys that all sudden they're making 100 grand a year and they've only made 50 before, something like that. They got all this extra money to go out and get the house. They go out and get the car, you know, and maybe, maybe they're living to the 100 grand a year, but maybe they're not.
00:21:39:26 - 00:22:01:18
Speaker 2
If they're single, then they shouldn't be right now. But what advice do you have for that salesperson that's just making 100 grand a year for the first time and how they can utilize, you know, maybe maybe they've got 20 grand in expendable income annually. How would they convert that into a portfolio? You start with real estate or you go straight arbitrage or what do you think?
00:22:02:02 - 00:22:30:27
Speaker 1
So I think arbitrage is the best first step that anybody can take in a real estate. And the reason why is like arbitrage. I see it more as a business instead of an investment because it is active, even though we've kind of automated everything and I work very little on my actual portfolio, less an hour a day, it's still active income and that's why you're you're making more money per property.
00:22:31:16 - 00:22:51:12
Speaker 1
But the reason I the biggest reason why I recommend as a first step is because it takes very little money to start. You can even start with zero money by cohosting for other people. That's where you find somebody that already owns a property or they might even be arbitrage and then you charge them 15 to 25% of their gross income to manage.
00:22:52:15 - 00:22:54:26
Speaker 2
And at that point you're getting your reps in.
00:22:55:22 - 00:23:24:14
Speaker 1
Yeah, exactly. So even if you have to manage the first one for free, once you get that first one and you show that you can be successful with managing property, now you have that on your books to show people. And you know, when you go and meet with other owners, like the biggest thing I recommend is going to like real estate meet ups got long term investors there, and for you to tell them that you can double or triple their profits by handing their property over to you, they're going to go nuts.
00:23:25:12 - 00:23:53:23
Speaker 1
I mean, that's why I mean, if we marketed that, we manage property more. We probably have twice or three times what we do. We just don't. It's just from people that, you know, contact me directly or found out. We manage a lot of properties in the area, but that's why I say it's a great first step. You get into it with no credit, no money, and then, you know, as you have that experience and you have more confidence, now, you can start putting your own money or somebody else's into it.
00:23:54:08 - 00:24:17:06
Speaker 1
Like when I first started, I partnered with other people and they put up the money, we split the profits, and then later on when, you know, we decided that, you know, either he can take over the property full time and buy me out or vice versa. But it's a great, great first step and stepping stone to any new investor.
00:24:18:15 - 00:24:27:10
Speaker 2
So if I'm a sales person, I probably work 40 to 50 hours a week. So what am I looking at added to my plate if I want to like arbitrage this one property?
00:24:28:22 - 00:24:52:24
Speaker 1
I mean, you could start you can start with 30 minutes a day. It's, it's you know, if you actually knew the the little amount of work it involved, it would drive you crazy because that's it's no work really. I mean like now we have like I start when I first started I was cold call 2 hours a day, but then I found out that I didn't have to do that.
00:24:52:24 - 00:25:13:11
Speaker 1
I could save my searches with my criteria on Zillow and then just copy and paste every single day my script to the saved searches, which takes less than 30 minutes. So that's exactly what I started doing and teaching other people to do it, you know, it takes very little time.
00:25:14:03 - 00:25:22:15
Speaker 2
And that's part of your coaching process, is teaching that tactical way to get those properties in which you could arbitrage.
00:25:22:15 - 00:25:47:17
Speaker 1
Yes, exactly. And we even help them. So if it's somebody that is making good money in sales and they just don't have the time or don't want to make the time, and now we help people source virtual assistants so now we can help them find a Philippines based, Philippines based virtual assistant that they can pay $4 an hour to to do all their their code outreach.
00:25:48:11 - 00:26:11:00
Speaker 1
And, you know, we've got a system down to where she cuts through. She submits it to a data software called rDNA that will help us tell us around how much the property will make. If it meets our criteria. Then she puts it into a spreadsheet for me that I can review at the end of the day. So everything's everything's automated.
00:26:11:08 - 00:26:21:00
Speaker 1
It cuts hundreds of hours off of my plate because I only see the properties that the owners already confirmed. They're willing to work with us and they make profits.
00:26:22:10 - 00:26:51:27
Speaker 2
Yeah, it's funny, a lot of people reach out to me about Vas in general just because, you know, I have three Vas on my team and they're freaking amazing and they've kind of systemized my back in operations when I had my sales teams to on the solar and AT&T side, like they were doing everything that was in customer facing essentially, you know, and they didn't know as a PS four at all basically managing it all and Google sheets, making sure all the steps were followed and everything.
00:26:51:27 - 00:26:56:05
Speaker 2
It's just been been huge for my business in the past year. So yeah.
00:26:56:27 - 00:27:18:02
Speaker 1
Yeah, the very first month that my VA was with us, she closed nine properties and she barely speaks English and she just, she just took the copy and paste script that I gave her and the steps that I gave her to take. And she closed nine hats, which people don't believe me when I say that, but I mean, that's how simple this business is.
00:27:18:09 - 00:27:40:10
Speaker 1
You take the script, you show the landlord the value you bring, and if they don't agree to it, usually it's a property management company where you just don't fit in their box or it's an older couple that like they have their their set criteria for people they want to rent to a family. They don't want to get into renting to a business or they just don't understand the value.
00:27:40:27 - 00:27:59:17
Speaker 1
And that's where you can come in. You know, as a salesperson, you should be able to get over you know, their hang ups or whatever their challenges are with understanding what you're providing. Because I the biggest thing I've seen is when they're saying no, they just don't understand what's your what your.
00:27:59:17 - 00:28:02:07
Speaker 2
Provides as an education issue at that point.
00:28:02:29 - 00:28:04:23
Speaker 1
Yeah. Yeah. So absolutely.
00:28:05:20 - 00:28:15:05
Speaker 2
Yeah. And I would imagine, you know, especially some of the closers that I've had and you know, the skills that I have in sales, overcoming those objections would be fairly easy in that I mean, yeah.
00:28:15:16 - 00:28:17:07
Speaker 1
They're very easy, very selling.
00:28:17:16 - 00:28:22:05
Speaker 2
You're selling passive income, you know. So it's like yeah, it's a great product to be able to sell.
00:28:23:12 - 00:28:45:00
Speaker 1
Yeah, Yeah. So I mean the biggest, the biggest objection that we overcome is like, why, why would I rent to you? Like, what's the benefit? And the, the biggest benefit is, one, you're going to be more profitable with less headaches because we have we have the team, we have everybody to service your property. Even if something breaks that is outside of stuff.
00:28:45:00 - 00:29:02:12
Speaker 1
We've agreed to do, we have the people in place that can repair it for you. And since we have so many properties, they're doing this routinely for us. We get a wholesale rate. So you're going to be paying less for repairs, We're going to handle them, and then you're going to be more profitable because we're looking at a long term relationship.
00:29:03:04 - 00:29:25:10
Speaker 1
Think about turnover for a long term landlord. That's our biggest expense. If we rent the property for 3 to 5 years, we've saved them potentially $10,000 or more on turnover because we don't have to replace carpet, they don't have to replace paint, they don't have to do repairs. We've been keeping the property in good shape and doing touch ups and things throughout our tenancy.
00:29:25:22 - 00:29:38:07
Speaker 2
A few days between rentals and yeah, that's when you can go in and kind of one, make sure they didn't destroy the place. Right. And if they don't there, there is legalities in place on Airbnb and the RV owned stuff.
00:29:39:04 - 00:29:39:20
Speaker 1
Exactly.
00:29:39:20 - 00:29:53:03
Speaker 2
Oh that's fantastic. So what is I guess what's the next step for you in your business? You know, you guys are doing the coaching, you're doing the arbitrage yourself. You know what I mean? You're in the real estate game yourself. What is the evolution of all of that look like?
00:29:54:10 - 00:30:15:13
Speaker 1
Yeah. So the next steps for us, like we'll continue slowly building our arbitrage business, but we're looking at like higher end properties now that make a lot more profit. And then we're taking the next step that I would tell any of your salespeople use Airbnb for cash flow, use, buy and hold for long term wealth. So we're taking our cash flow now.
00:30:15:29 - 00:30:41:12
Speaker 1
We're making somewhere in the range of 100 to 136000 gross a month, which is around 50 grand profit. And we're putting that into long term assets where we're doing other things that create faster income, so increase our velocity of money. So we're doing a couple of flips and then we're putting that into multifamily. Like one of our biggest goals this year is to buy 50 units of multifamily.
00:30:41:27 - 00:31:13:09
Speaker 1
So that will get us that will take our our active income, even though it is semi passive from Airbnb and put it into true passive income and also with multifamily, especially if we're buying assets that are value add where either they're not charging full market rate for rent or there's something that we can do to come in and increase that net operating income with, with a commercial asset like multifamily, the values different.
00:31:13:24 - 00:31:36:23
Speaker 1
So like with a single family property, if we buy that there's only a limited amount of money that we can add in equity because I use based on the comparables in the area, multifamily is strictly based on income, right? So if we can increase the income by 100 or $200 a month per unit, that's hundreds of thousands of dollars in equity that adds to our net worth.
00:31:37:05 - 00:31:45:11
Speaker 1
And that's why, you know, all the big players go towards multifamily. It's just such a game changer with net worth and long term wealth.
00:31:46:09 - 00:31:59:27
Speaker 2
Oh, and what I like about your model too, is you're you're basically with every property you add with every, I guess, long term investment in real estate, as long as all these things are in real estate.
00:32:00:25 - 00:32:01:20
Speaker 1
Yeah.
00:32:01:20 - 00:32:32:28
Speaker 2
You're reducing your expenses. Yeah. Because now you know you've got people in your company managing more. Right. Which brings more ROI on their dollar that you spend on them. But also those, those companies that you're outsourcing are going to be more willing to, I guess, negotiate lower rates for, you know, fixes and, you know, construction, you know, cleaning all that stuff because you're bringing in so much business, you're paying you're paying their bills at that point, you know?
00:32:33:15 - 00:32:49:08
Speaker 1
Yeah, yeah, yeah. So, I mean, our one thing that we try to do is take take our expenses and turn them into an asset. And so what we've done with the Airbnb properties is we've built out our own cleaning company now, so we clean all of our own properties.
00:32:50:09 - 00:32:51:03
Speaker 2
With Trump model.
00:32:51:08 - 00:33:15:12
Speaker 1
We now we're seeing other people's properties as well. And then we started a landscaping company. On top of that, we're doing a lot of landscaping. You know, with mulch installs and keeping the properties up throughout the year because they they take more than long term rentals. So we're getting cost on all of that. Plus we're managing commercial properties for other people in the community doing landscaping jobs for them.
00:33:16:27 - 00:33:24:27
Speaker 1
So, you know, our whole model is around taking the current expenses. We have to turn those into assets intensive.
00:33:25:20 - 00:33:30:22
Speaker 2
So yeah, Have you have you heard how Trump created his.
00:33:30:22 - 00:33:34:24
Speaker 1
No, no, I, I actually haven't heard that story. So to that so.
00:33:34:24 - 00:33:54:13
Speaker 2
One of the first buildings he bought, he's his dad's money. We all know this if you follow politics. Right. But one of the first buildings he bought, he realized and spent all this money on a dry cleaning company and spending all this money on a cleaning company, on a maintenance company, on a car rental company, on a concierge services.
00:33:54:13 - 00:34:22:29
Speaker 2
You know, he probably had about 15 different companies that he was outsourcing services. And so what he did was he just eventually brought them in-house right now and created 15 companies that all worked in that building, on the tenants in that building and on the building itself. And then all he would do is pass expenses back and forth, you know, so and so that's essentially what you can do, is your one company can charge the other company, you know what I mean?
00:34:22:29 - 00:34:40:14
Speaker 2
But you're not you're not paying any income on that because it's an expense. You know, I'm saying. So it's it's somewhat of a tax shelter. And then at the same time, like you said, it it it expands your ability to get wholesale rates on other supplies or the service itself.
00:34:41:10 - 00:34:44:03
Speaker 1
Yeah, it just looks fantastic.
00:34:44:03 - 00:34:58:14
Speaker 2
You know what I mean? It's like, yeah, all right, I've met the limit of expenses. I can I can spend on this with this company. Let me just move over to this company and we'll spend it there. You know what I mean? So I hope you have a very good tech strategist or a financial planner place. That's all.
00:34:58:14 - 00:35:22:21
Speaker 1
Yeah, we. We have an in-house bookkeeper that. An accountant. Well, she's not a legal accountant, but she could be. She's got all the training. She's been doing it for 30 plus years. Gotcha. But she's she's definitely a professional in this area. And we we were headache for her in the beginning because, you know, starting out, I didn't know anything about taxes or.
00:35:23:18 - 00:35:50:01
Speaker 1
Yes, I came to her as a I think when I hired her I was 22 or three. And, you know, of course, we were making good money for somebody my age. And I had all these extra companies and, you know, 15 bank accounts and all kinds of things. And she said I was the the most labor intensive client she's ever at, at all in her life.
00:35:51:14 - 00:35:57:07
Speaker 2
Well, you know, as visionaries, we're going to start a new LLC and a new bank account and a new boss. Right. And we start a company. So it's.
00:35:57:08 - 00:35:57:15
Speaker 1
Like.
00:35:57:24 - 00:36:03:05
Speaker 2
That's right. When we get older, we realize you don't have to do that anymore. Just have the vision in the company.
00:36:03:23 - 00:36:21:26
Speaker 1
Yeah, I mean, I just had nobody to coach me, you know, like my dad was. My dad is always owned his own business, but he didn't know all that stuff. Even if I asked him, he wouldn't know. He might know somebody refer me to. Right. And maybe I should ask for his help a lot more than I did early on.
00:36:22:00 - 00:36:35:15
Speaker 1
But again, that's, you know, us as visionaries where we see something, we don't want to ask for help. Sometimes we're just ready for our head down and then take action on something. And it's a blessing and a curse.
00:36:35:15 - 00:36:46:08
Speaker 2
Absolutely. So last question here. You know, and I asked all my guests this question, What is legacy means to you and what legacy do you want to leave behind?
00:36:46:08 - 00:37:16:16
Speaker 1
That's the legacy to me. So definitely the impact I can make while I'm here. You know, how many how many lives can I touch? How many people's lives cannot change. And, you know, part of that is reaching your potential as a person and as a business owner and a father and a husband and a friend. So for me, it's all about doing my best in every area so that I don't feel like I left anything on the table.
00:37:17:16 - 00:37:51:14
Speaker 1
And the legacy that I'd like to leave, you know, as one for people to to see me as, you know, someone that started a movement for something that I believed in and whether it's, you know, business or her or life or my coaching, that's one reason why I love coaching, because I can see an instant change in people's lives just by them implementing one thing that I tell them that that is holding them back.
00:37:52:06 - 00:38:23:20
Speaker 1
So, you know, if I can if I can do that in the form of coaching people, I eventually want to get into public speaking, sharing my business knowledge, my, you know, life, knowledge, relationships, mindset and then my Christian beliefs, you know, helping people get closer to God. If I can do that every single day and just get 1% better and help one extra person each day or week or month, then that that is what I want to leave behind.
00:38:25:08 - 00:38:48:03
Speaker 2
Oh, I love it when you are coaching people to financial freedom, to a relationship with God, which I love, and to create that impact. So I appreciate everyone on the show sharing their time. Thank you. Probably knowledge that you'd only get if you hired Clayton as your coach and you want to do that, Where can they reach you at?
00:38:48:28 - 00:39:00:10
Speaker 1
Yeah, they can reach me directly on Instagram or Facebook. My Instagram is Q deals Holmes know exactly how it sounds. And then Quentin West on Facebook.
00:39:01:18 - 00:39:08:02
Speaker 2
Awesome. I appreciate that info. We'll get it in the show notes that way they can just scroll down, click on the link and go right to your.
00:39:08:12 - 00:39:09:03
Speaker 1
Perfect put your.
00:39:09:03 - 00:39:12:27
Speaker 2
Pages there. Again, thank you for coming on the show, brother brought a lot of back.
00:39:12:27 - 00:39:15:15
Speaker 1
Thank you, Doug. Thank you, Doug. Appreciate you.
00:39:15:27 - 00:39:17:24
Speaker 2
Let's get building. All right.