Episode 47 | Kyle Brodwater | Military Millionaire Podcast

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Kyle Brodwater on The Military Millionaire Podcast

00:00 - 05:00

Intro:

You're listening to the military millionaire podcast, a show about real estate investing for the working class. Stay tuned as we explore ways to help you improve your finances, build wealth through real estate, and become a person that is worth knowing.

David:

Hey, what's up everybody? It’s Dave here, your host and today we have an exciting episode with Kyle Brodwater, who's in the Navy and we're going to talk about getting started in Airbnb some tips and tricks for making more money and being more successful on Airbnb and even how to make money by renting your bedrooms out in your house to single college girls.

Pretty crazy stuff going on today. So make sure you tune in and listen all the way through. Thank you once again for being a member of this awesome community.

If this is your first time for joining us awesome thank you and if not, welcome back. Show notes are found at Frommilitarytomillionaire.com/podcast. Now relax and enjoy the show.

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David:

Hey, what's up everybody? It's Dave from military to millionaire and I am here with Kyle Brodwater, who's been in the Navy for eight years. And you know, he does a little bit of Airbnb action. And he's actually doing a kind of summer house hack thing similar to what I'm planning on doing for the next two years I live here. And I thought that it'd be fun to have him on the show for two reasons. One, maybe you can help you out and to maybe help me up.

So Kyle, welcome aboard. Tell us a little bit about yourself.

Kyle:

Appreciate it. Thanks. Thanks for having me.

So I first found out about real estate investing in 2016. I was on deployment, I was actually getting my haircut in the head on the submarine. I'm in a submarine service. And while I was getting my haircut, these guys behind me were talking about real estate investing in bigger pockets. So naturally I'm very entrepreneurial mindset going. And I heard a talk and so I immediately got interested.

So they're going on and on and on. And I'm like, Well, I really need to get these podcasts. But we don't have internet on the submarine. So I can't download anything or listen to anything. So our first first chance to do that was in France, I was putting in the France. So I spent let's see, I spent five days in France and I spent three days with shitty hotel internet downloading every single podcast I could possibly get my hands on. And once I started listening while I was downloading, I heard them recommending books in the BP podcast so I was downloading all those books too.

So I spent all of France basically downloading podcasts and books. And then we went back underway and I started listening to every single one of them from the very beginning and, and reading all the books at the same time.

So I spent the entire seven month deployment, listening to podcasts, different podcasts books, and that's how I got my call. My real estate education was on a submarine with no internet service. So it turned a shitty situation into an Education, I guess, I guess you could say.

05:00 - 10:00

David:

Yeah, that's awesome.

Kyle:

Yeah. And that was 2016-2017 I got back. I bought this house that I'm currently in right now as mom with a VA loan. And my wife, so I spent the entire tail end of that appointment when I was in ports, looking at properties to buy when I got home. It was kind of hard to do with no internet. But when I was in port, I would look at different properties, Zillow, and whatever.

My wife is looking at home, we get back or I get back and my wife and I are driving around the area that we want to buy a house in. I guess you can say driving for dollars and she sees a lady walking in a for sale sign out on this front of the house in the exact area you want to buy. So she gets out of the car. She politely asked, you know, can you, we're gonna look at this just put the for sale sign away for now.

So she listened to her. And we made an offer on the house and got it for a lot cheaper than the market value was so you know we bought it right. I think the market value was 300. And we bought a 240.

David:

Nice!

Kyle:

Yeah, so it was good. It was a good deal in a great location in Rhode Island westerly Rhode Island. It's a big beach vacation town in the summertime. And we're about a five minute bike ride to the beach. It's a good spot.

So now we get in the house. I mean, my neighbors right across the street from me is a bed and breakfast. And they do a hospitality internship with a bunch of girls every summer. And they are always looking for places to rent for these girls whose rent is paid for by their company or whoever pays for its $450 a girl for a month.

They do two girls per bedroom. So I was listening to him and I was like, Oh my god, where's my wife right now I need to ask her this because I you know, in my head, I'm like, we need to have him in the house. Let's get him in here.

So my wife comes home. I talked to her about it. And she's like, Sure, let's do it. And I'm like, seriously? Alright, let's have him in. So I go next door to the bed and breakfast. I was like Michael, you know, I was thinking about it. You should have him stay at our house. He's like, Really? You guys 1000 are like, Sure why not? Let's Let's do it. I can get, I have two extra bedrooms. That's four girls total. I can bring him on here. So that's what we did from May. So we rented them out from May, June, July, August and all September.

So that was an extra 1800 bucks a month coming in. I was like, Alright, I'm addicted. I gotta find a rental property.

David:

I mean, that's like nine grand.

Kyle:

Nine grand.

David:

For five months in the house that you're already living in. That’s huge.

Kyle:

Right. Exactly. So, so pumped.

David:

I need to find a company that does that for me.

Kyle:

Yeah. So then I was like, Katie, if we ever need to get rid of this house, we should just rent this and finish the basement, get two more bedrooms down there and get another $9,000.

David:

They bring in an 18,000 for half the year to cover all your expenses and then the other half the year you can just know rent it out for a six month period or Airbnb or whatever. That's cool.

Kyle:

Yeah, exactly.

So we did that. And then the same year we bought this house I saw a condo for sale. Half a block off the beach. And it was 96 or those acres and it was 116 and I bought it for 96 and that's the one I currently Airbnb right now.

And let's see here. That was February 2017. So the first summer I rented that out was 2017. And that is my first rental, my only rental that I have right now but it uh it does really well. My entire mortgage payment is $580 with the HOA fee included. And I use all the money I saved on the deployment to buy that for the down payment which they required 25% on a portfolio loan.

So put down 24 grand on that.

David:

Nice!

Kyle:

And yeah, there's probably other ways I should have financed that. I was in the very beginning, learning about this, but you know, I had to make a move. So I did.

10:00 - 15:00

David:

Yeah, there's some creative ways to mess with it. But I mean at the end of the day for cash flowing So what can you run threw some numbers for what your Airbnb does like, like monthly I would I would, what I'd like to hear and I never asked this the last time I had someone who knew a little bit about Airbnb on the show was like, you know you bring in I know you're bringing in a lot more income because Airbnb, but what kind of expenditures do you have? Do you outsource stuff? Are you doing everything yourself? Like kind of run us through cuz I know Airbnb is another job but..

Kyle:

Yeah, so I do manage everything myself either. If I do outsource, it's to friends. And I'll talk about that in a second.

Expenditures, the only thing in there really is the air conditioner. That would be paid for by myself. So if that's the only thing I budget for if anything fails, everything else is covered by the HOA.

David:

Nice.

Kyle:

Which is awesome.

David:

Yeah, that's cool.

Kyle:

Including the internet, which is even cooler.

David:

Yeah.

Kyle:

So I rent that out to a different lady every year in the winter. So she pays 700 every month in the wintertime. So make 120 bucks. And then once May comes May, June, July, August, September, I rent it out strictly on Airbnb. And it's averaging about 4500 a month.

Yeah, and then. So the guy who bought it was only making $10,000 a year on it.

David:

Two months, two and a half months.

Kyle:

Right.

So Airbnb really, really can pump up the numbers on a small rental like mine, which is the studio.

Yeah, I'm getting 16,290 off for that.

David:

Not bad for only putting 24 down and making your money back in a month and a half or a year and a half.

Kyle:

Yeah, year and a half release. I wish I could buy every one of them in there. But.

David:

Yeah, takes a little work.

Kyle:

Yeah. But um, yeah, so I'm doing right now. And it is a full time job. So I could outsource it. And I have in the last year I tried in the beginning of December. And it's just it's never as clean as you're gonna clean it yourself. And that's where you're going to see it in the reviews. Once I saw two cleanliness reviews go bad. That's when I realized I was like, Okay, I can I'm on shore duty right now. I can do this myself.

Yeah, it's going to suck. But I'd rather have more money now. So I can continue to invest with something else. Buy something else. Am I doing anything else anyway, so made the most sense.

Now, my friends, so if my job does require me to travel. And I usually have these bookings set in May these bookings are booked well in advance. So if I have to go away, if my wife can't get there, I'll hire my friends. And I'll give them like double the rate. Just because I know that they're reliable. My reliable friends.

David:

Yep. Yep.

Not your alcoholic friend who knew beer money.

Kyle:

Exactly.

But I'll have my reliable friends go over there and clean it and I'll get like 100 bucks, it takes like 30 minutes. But it helps them out. They don't mind it. And it really helps me out. But there's a lot of audibles I guess you can say in it.

David:

Yes.

I'm looking at, I think my biggest issue going forward will be as we were talking before we recorded my new unit. My new job. I don't get it. It's almost like being a submarine for eight hours a day, right? Like, I'm not allowed to have my phone in the building.

Kyle:

Yeah.

David:

And I mean, granted, I can go out during lunch, or 30-40 minutes, an hour, whatever, I can periodically, you know, I'll go to the bathroom and go to the bathroom, and then disappear the phone and check email and then go back into the work whatever. Like it's not the end of the world if I go look at my phone. But you know, I look at it maybe three times a day.

So for Airbnb, not being able to communicate with incoming or people who want to let you know, trying to figure out how to get in the house, whatever is a risk for review. So one of my things that I'm trying to figure out right now is do I want to like I'm trying to find a super host in the area where I can say, Hey, you know, you call with me giving you 50 bucks per booking or 25 bucks per booking, and all you do is talk to people for me, you know, answer questions, whatever. And maybe they'll be down or maybe I can find someone to manage the thing entirely.

Really what I gotta do is just figure out how busy it's going to be before I justify forking out money, so I'll probably try to run it myself for the first few weeks. See how it goes. If I can still if I can outsource it, make some money off it, great.

You know, obviously it's not gonna be as lucrative as renting a room and I'll be upstairs rather than renting the house.

15:00 - 20:00

Kyle:

It's a nice place.

David:

So I think there's still some potential there.

Kyle:

Yeah, definitely.

And I think they used to, Airbnb used to have co hosts. I don't know if they still do. But it's basically what you're talking about. Basically, somebody that has great reviews themselves can post another person's property. I have to look into that myself as well.

David:

I know, I know people who do it unofficially, right, like they listed for the person who owns the place and they take a split, which is fine. Really, it's just gonna boil down to what's the least headache for me and the most money. So if that ends up being that I just rent it long term to someone for six months to a year, you know, and they crash with me for that period of time, whatever. But.

Kyle:

Yeah. But I definitely blessed in the last three years. I've definitely learned a lot of tips and tricks for Airbnb for sure.

David:

Do you wanna share?

Kyle:

Absolutely.

So the first one, I will say this, this is going to credit to bigger pockets. I can't remember the lady that was on it. I think her name was Ziona or something like that.

Yeah, she recommended putting your Airbnb credit code, you get a code you can give to friends and family when your host or whoever, and it gets them $40 off the first listing. But if they use your code, you get 20.

So I put that code on the very beginning of my listing. So even if they don't book my listing, and they still see that code and use it, that money goes to me. And I didn't even check this credit thing until the other day, and I'm like 1200 bucks.

David:

Nice.

Kyle:

I'm like, Oh, my God, this is a vacation right here.

People just clicking it and just using my code, just right on the listing when I thought that was awesome.

David:

Yeah, that's very smart. I like that.

Kyle:

And let's see here.

I always, I always try to over deliver. As far as like, if I can afford, if, if I don't have somebody checking in entirely that day, I'll shoot the person a message and say, Hey, you know, you guys are welcome to stay the rest of the day or welcome to park your car in the parking lot. Which parking here cost 40 bucks a day, sometimes at the beach.

So if I can afford to give him something that doesn't cost me anything. Then I went to London. That right there will be great for your views.

David:

Yeah, that's cool. I heard someone talk about like if they have and they think they do it for everyone. But I've thought about it for like if someone's staying longer than a couple days, you know if they're staying for a week or two spine like a bottle of wine and leaving it on the bed or whatever. Like little things like that you buy a cheap bottle of wine and..

Kyle:

Yeah.

David:

Maybe they'll overlook the crappy cleaning job that is really not crappy. But someone's a perfectionist if they're drinking wine.

Kyle:

Right. That's it.

Yeah, little details like that would definitely go a long way.

David:

Yeah.

Kyle:

And it'll cost you what like five bucks.

David:

Yeah, maybe a little bit better bottle.

Kyle:

My box of friends, yeah.

David:

Well, and then I've got like, a, I've got like a Keurig. And I, you know, I've bought whatever Dunkin Donuts crap that I don't really drink anymore, but they will. And then I need to set up. You know, like the list of what I want to do. So you know, here's the WiFi code. Here's the best burger joint around this place around whatever. Check these places out.

But if you found I don't know if you've played with this at all, because it sounds like you've got it already. But you think so for me, right? Like I paid a little bit more than I would have because I don't care about cable but I got cable. That's really I mean, it's got like anything you could ever want. And then like super high now the high speed internet it's partially for this right the whole office, but I felt like maybe if there's not a whole lot of single rooms for rent or you know, not the whole house around here. There's really not a whole lot of Airbnb around here, which is really weird because it's a very heavily trafficked area.

I think there's just a lot of HOA’s that don't allow it. thing. Luckily my lease I was they were kind enough to let me talk to them into checking the box that I could Airbnb, and the HOA, although I'm sure the HOA would say no if I ask them their rules and guidelines and bylaws don't say anything about it. So I don't care. It's not going to ask and I'll just tell the people to park in my garage and then I will park out with my little parking pass and no one will ever know.

Maybe my neighbors but they won't care as long as I'm nice. But do you think there's any value for like, Is it worth is it justifiable? That market like you know, hey, high speed red cable or whatever, like you think that helps at all? Or is that just me trying to justify spending too much money on cable?

20:00 - 25:00

Kyle:

No, it definitely helps. Especially up. I'm not sure that kind of area in a lot of travelers. I mean, a lot of people work from home now. And they need high speed internet and there's also a whole nother setting on Airbnb and it deems your property good enough for business. So that high speed internet is one of the wickets that's required for that listing and then you're gonna get a whole nother crop of people that can rent your place now.

David:

I like it. That's good to know. That might have been worth all the money I paid to have you on the podcast right there. Those listening I didn't pay him. That was a joke. I'm just not funny.

Anyway, Okay, any other cool tips tricks? I'm super excited. I'm gonna eat all these up.
I'm gonna eat all these up. And I’m gonna tell people to buy chips, no I’m just kidding.

Kyle:

This is my favorite one. And it's not even it's, it's really simple.

So if somebody is kind of messy in your house, but not overly messy, but kinda messy, they're gonna be kind of other friends of like, okay, is he going to give me bad stars? Is he going to give me like two stars or whatever. And then in them thinking that I've talked to a bunch of people, they're more inclined to give you three or four stars.

Because they're like, well, if he's gonna give me bad stars, I'm going to give him bad stars, that kind of thing. So what I do to limit that and to mitigate all of that is right before they check out. I communicate with them in the messenger. And I say, this is what this is where I do the parking thing. I'll go something like, you know, Hey, thank you so much for staying. Please feel free to keep your car parked in the parking lot and enjoy the beach all day and continue to use the outdoor showers. I hope you have a great rest of the summer.

When they see that. They're like, Okay, he's happy. Great. This is good. They're more inclined now. Our last form of communication was a good, a good, you know, level, and they're more inclined to leave a better review.

So I've tried that the first year, this summer, and I've only gotten five stars and seven, which is good.

David:

Nice! Might try that..

Kyle:

That's my, that's my favorite one to do.

David:

Yeah, cuz that doesn't cost you a penny. And it clearly helps because the reviews are worth all that.

Kyle:

Right.

I even let some dude borrow my two bikes one day. He was a host out in Utah as well. I was like, Well, whatever. I'm just gonna borrow my bikes.

David:

That's cool.

Stay late.

Cool. All right. I think I'm gonna write that down..

Yeah, I know. I've been messing around with the idea of like, Okay, how do I, how do I add value to this? So I'm like, Alright, I got the internet, I got cable I've got I mean, it's a nice place, you know, and then I can get coffee, maybe wine. And then there's a pool and hot tub in the community. That's super nice. I figured I'd leave the pool and hot tub key out and just tell them like, hey, if anyone asks, your name is David Pere and you live in this address.

Because nobody knows who anybody is, it is the new neighborhood. Nobody, nobody knows anybody. It's a huge place. But you know, as long as they say the right thing, great.

Kyle:

The same thing with a fire pit. Like the owners are the only ones allowed to use the fire pit owners and families. So if I get a message from one of the people saying, Hey, you know, are we allowed to use the fire pit, I'll be like, yeah, just tell them you're my brother. Whatever, then you're fine. Who cares? So stupid.

David:

Yeah, that's really cool.

It works, right? Like, whatever, as long as it helps him out. Then I've been trying to figure out okay, well, what else? And I'm like, man, I need to figure out if there's a way to like, turtle my car as part of the you know, like, Hey, I see you're renting my place. Oh, there we go. I got a smile. Let's, let's hear it. Tell me the answer.

Kyle:

Yes, you can. My wife, my wife drives Uber. And so we include their code in that too, because everyone wants to go out and drink. So we'll give Katie's code to the people that are renting the place. Way to prompt me on that one I forgot about that. Which is also good for any other businesses I used to give. I used to own a surplus and company. And now I help a friend out who gives surf lessons here, but I gave him business cards and put them all in there. Everyone wants to surf.

David:

Yeah.

Yeah, that's cool. I need to add that, you'd like to find some affiliates for random things around town and like, yeah.

Kyle:

You can probably even work in your advantage for free beer somewhere, saying, Hey, I got these people staying here. They're going to come here. Can you give them a better rate or whatever? Give me a beer too.

25:00 - 30:00

David:

That's funny. Yeah, that's not a bad idea.

Yeah, I didn't even think about leveraging it that way. That's smart. Yeah. And then I just I can't even, you know, if I have debated the Turo thing, we're like, okay, someone reaches out says they want to rent my place, schedule some time. And then I can say, awesome. Hey, if you're gonna be out here, I have this vehicle that I'll rent you for $30 a day to you if you want instead of renting a car somewhere else. And then really, that would probably force me to ride my bike to work, but I could buy a Junker and drive the Junker to work and you know, or ride my bike and stay skinny. But I don't know there's got to be there's, there's probably some really unique ways to like set that up towards an automatic like, sweet listing, here's an email. Do you want to rent my car? Great, awesome. Now I'm making more money off you otherwise, no, that would also be a value add. But I like the Uber thing. That's really cool, because I have a code for that too.

Kyle:

And there's a new thing that Airbnb just came out with, I think in the past year, it's called Airbnb experiences. So it's another form of making it's basically if you haven't gotten and I'm trying to milk as much as I can out of this small.

David:

That’s the way to do it. That's why I like talking to people like you.

Kyle:

And they offer experiences so my wife loves to go clam digging in the salt ponds by the beach. And she was thinking about starting, you know, dig your own clams. People have been people pay for all those things are out here. But now you offer it as an Airbnb experience. You're making more money.

I mean, there's so many things on there. It's got to be deemed. There's a couple guidelines that they offer that they tell you that it has to be like, you could check it out on the website, but it's pretty cool.

David:

Yeah, that's actually really cool. I like that.

Kyle:

There's like bar crawls. You can be in charge of a bar crawl sightseeing tour, like..

David:

Nice.

Kyle:

Yeah, anything.

David:

That's cool. Yeah, that's super cool. I like it. And I like so what's the plan for you going forward? Well, I guess I could ask if there's any more tips or tricks, so I can milk this more, but no, I mean, if you got like a list laying around, you know, feel free to just hit us.

Kyle:

Just another tip. I mean, friendly communication. It doesn't, it doesn't cost anything to be nice to people, especially when they're gonna review it and review you at the end. So just being friendly people beg.

David:

Yeah, and you're gonna have and this is just something I've noticed from talking to Airbnb people and seeing how Airbnb people act, you're gonna have issues with tenants or renters that do not get along with you, and that frustrates you. And if you let that show, now your stock goes down. But if you can handle it in such a way that you leave the emotion out and just vent about it, when they're not around, may not lose your ratings. So.

Kyle:

Right. And to piggyback off of that, if anything does happen in your rental damage or anything like that, make sure you call them right away. They're pretty quick and good about it. If you get in touch with them the same day it happens. They're more inclined to work with you more and give you security deposits and everything else back.

David:

Nice, yeah, that's good.

Kyle:

I had to get rid of a renter this summer on a Saturday night, which was my, the best nights make money. And my neighbors were complaining. So I tried to keep everyone happy. So I went over there. And I was like, Okay, you guys. You guys can't be here anymore. This is gonna be done. So I called Airbnb, and they canceled them. And they gave me my money back for the night.

David:

Nice!

Kyle:

Oh, yeah. It's awesome.

I guess it's a case by case basis. I think so.

David:

Yeah. That's cool. Yeah, that's smart.

I've seen people talk about, you know, stuff where if they do XYZ worth of laundry or whatever, you waive the cleaning fee and things like that. So there's some cool.

Kyle:

That is cool. Yeah.

David:

Concepts out there. Just looking forward to implementing the law. I don't think I mentioned this on the recordings. So the reason I haven't started this yet, just so you know, is not because I'm some slacker bum who talks about things, it doesn't take action. It's because Google has not figured out that my house exists yet.

If you pull it up on Google Maps, it's still a dirt plot. And the only way for GPS to register that I exist is through longitude and latitude. And because of that, Airbnb won't let me put the address up. And neither one of you ever do or any of those others because they all require the Google address. I can't just drop a pin in what appears to be the middle of a construction zone.

Just super annoying, like Amazon drivers can't find me. So like, I'll get a phone call and I have to like Okay, are you near the pool? Yes. All right, you're gonna turn this way on the street that's named my street. Oh, I didn't even notice that. Yeah, I know. It doesn't exist. It just drove on your maps, but that's my house. And it's such a pain and then there's a house. You know, there's like two streets like this. And this house, this street for those of you watching those two streets that a V for if you're not watching the video, and the street, one of the streets has a street name and registers on Google and my street does not but they both have a 4118 And so half the time when I'm walking people in there like I'm banging on 4118 and I'm like, look out the window. Nope. Yep, you're across the street. My poor neighbor probably hates me.

30:00 - 35:00

David:

Anyway, so that's why I'm not currently Airbnb yet. It's not because I'm just some bum, talks about things. I want to fact I just had a house guest leave, but they just weren't official. So I charged him like, nothing. He's like, 40 bucks a night, and I should be charging like 80. But they were good people and they brought beer, and they made me dinner. So totally worth it.

Kyle:

That's definitely worth it.

David:

Anyway, um, but so that's all awesome. So what's the plan? Going forward? Are you trying to, you know, buy some places around this area this bed and breakfast and rent out a whole bunch of college students more or is it more airbnbs? Or what do you think in future was?

Kyle:

If any, if anything else pops up. As far as condo Airbnb is by the beach, I'm gonna jump on it. Right now I'm looking at my first BRRRR deal.

David:

Nice!

Kyle:

So I'm going to read my mom just moved to Florida as I just that's where I was this past week. I just drove her in New Hall the way down to Fort Myers from New Jersey. That was fun. But right now I'm looking at a few deals right now to do the first BRRRR.

David:

You're saying? Airbnb is so awesome that it beats having four single college girls living in your house. Just want to confirm how awesome Airbnb is for all of you single guys out there.

Kyle:

It is awesome.

David:

I would have thought dogs. If you're listening, babe. Get myself in trouble here.

I mean, if some Bed and Breakfast wants to pay me 450 or 900 or per room, whether it's male, female, English speaking, non English speaking, like, bring it, come on down. I got two bedrooms ready to roll.

Kyle:

Absolutely.

David:

Yeah.

Kyle:

Absolutely.

David:

Yeah, I was when I first got here. I was like, super bored. And I was looking into random ways to make money, like housing. And I came across it not that I would do it just for the money, but they're like, oh, foreign exchange, like students, you know, foreign exchange students. And I'm like, Oh, yeah, they'd pay me. It's like 900 bucks a month for like, the nine months they're in school to live in my kid's room. And I'm like, Huh, put my kid on a couch? No, not really. But it's I mean, there's some really interesting ways out there. But I hope people don't do foreign exchange students just to make a little money, but I'm sure they're out there.

Kyle:

Yeah, there's a lot. There's a lot of things that make some side cash. I do drone photography.

I love that. That's cool.

David:

Dude that’s not house hacking.

Kyle:

No, it's not.

David:

Foreign exchange students.

Kyle:

It's not that cool.

David:

Drone photography is awesome. If you get good at there's so many things out there. So yeah, I rant about or ramble about all this not because it has anything to do with what we're talking about. But it's just the creative aspect. Like people get so wrapped up in what they can and can't do. It's like you do anything. There's a way in a basic niche to make some money.

Kyle:

Absolutely.

David:

Cool.

Well, hey, let's ask them these questions I like to ask people, and then we can finish it up. So the first question I like to ask is, if E one, E two or for those of you non military types, get off my show, 18 to 20 year old was walked up to you asking for advice, and only a few minutes to give it to them. What would you tell them?

Kyle:

I would definitely tell them to not waste their deployment watching movies, and listening to crap music. And just listen to podcasts the entire time.

That's what I would do.

David:

I wasted my deployment watching movies.

Kyle:

See I did that in my first deployment. That’s all I did was watch movies. And now I wish I was two years earlier.

David:

To be fair, when my last deployment was to F Gani land. I don't actually know if podcasts existed yet. I don't remember when that became a thing. But I mean, it's been almost a decade. So I don't know if that was an option.

I mean, people were still, you know, logging cd’s around and stuff. Externals were still like, you pay like 100 bucks, and it would be like 500 megabytes for an external or maybe maybe a terabyte for 100 bucks. I was like three or four terabytes for 100 bucks. So yep, whatever.

Anyway, I'm dating myself.

No, I agree. I think that's really cool. That you were able to just like you pulled in a port and you were like, I'm gonna make this happen. And then you were able to get enough stuff downloaded to keep yourself occupied for the rest of the trip. And now I'm sure you know, if you go back on sea duty, you probably take some hardcopy books with you and some other stuff. I don't know. I mean, you guys don't have a ton of space on ship, but you'll have a way to make it work.

Kyle:

Definitely bring books by all those all those books.

35:00 - 38:39

David:

Absolutely.

Awesome. Alright, so I was gonna ask what makes your method of investing unique but I think we got to cover that already. You've got some, but I will ask anyway, is there anything else that you think makes your method of investing unique besides college girls?

Kyle:

Definitely have it. So if you especially if you're in the military, I think having a team to go to when you have to call Inaudible. So if you have to go and travel or you go underway, make sure you have your team in place that can take care of the Airbnb, and make sure it doesn't fail. Because if you miss one, if you cancel one time, you can't be a super host. That's big mean. So you want to be able to keep that going. When you become a super host. You're at the top of the listing, everyone sees your property, you're more inclined to get more bookings.

David:

How long does it take to gain super host status? And what else do you need to do?

Kyle:

It takes so, if they do it every three months, I believe it could be four, I think it's three every three months, they do a review of your credentials as a host. So you need to have over a 4.6 rating, you need to have over 20 stays, I believe, a certain amount of stays a certain star rating. And no cancel bookings might be another wicket on there and can't remember, but you just have to fulfill their requirements. And if you get it, you get it for the whole rest of that. The whole next quarter, I guess you could say and then you have to maintain something. You have to keep it up.

David:

Not too bad.

Alright, what is so now that you've listened to a whole bunch of podcasts and books, what is one resource, book, website, course whatever that you would recommend anybody looking to get started in real estate and don't say Rich Dad, Poor Dad because everyone else has.

Kyle:

I would say I would say that..

I haven't done a BRRRR deal.

I haven't done one yet. But David greens. BRRRR. I didn't have the book right over there. I think.

David:

I was gonna say I have this other one behind me on the wall. But that's a really good one.

Kyle:

Yeah, I really like that. I can't wait to put that to get to you.

David:

Yeah, that one's awesome. And it'll definitely help bring you some. I mean, it's gonna work out right. Like that's a really cool strategy.

Kyle:

Yeah.

David:

I've been looking for my first official BRRRR. Unfortunately, the one I'm in right now I ended up you know, flipped but not not the terrible thing is just the way the financing worked out.

All right, before we wrap this up anything you'd like to add any parting advice or big ideas?

Kyle:

Nothing, you know, just, that's, that's it. Yeah. If you have any questions about anything on Airbnb, or where you want more tips, if I forgot anything, you can reach me @[email protected]

David:

All right. Well, I was about to ask where people could get a hold of you. But that works.

I look forward to seeing what happens in the future with some of these Airbnb, you'll have to hit me up and tell me what happens with the BRRRR. I'd love to hear how that turns out in the long run and some of these other condos. But Kyle, thank you very, very much for joining us this evening. It's been a lot of fun. And I mean, I'm sure everyone else got some value out of this, but I definitely gained some tricks that I'm super excited to use.

Kyle:

Hey, appreciate you having me. Thank you so much.

David:

Anytime, brother. Have a great evening.

Kyle;

You too. Thanks.

End:

Thank you for listening to another episode about my journey From military to millionaire. If you liked it, be sure to visit Frommilitarytomillionaire.com/podcast to subscribe to future podcasts. While you're there, we'd love for you to rate the show. Give us a review on iTunes. Now get out there and take action.

Episode 47:

Kyle Brodwater

Kyle Brodwater has been enlisted in the Navy for eight years!

Kyle got started in the Airbnb / bed and breakfast realm a couple of years ago. He has utilized some unique approaches, including renting rooms to single college girls with his wife!

This episode has some solid Airbnb pointers and information for anybody looking to get started in that space!

If you want to reach out to Kyle you can Email him at: [email protected]

For more information about their program send an email to: [email protected]   Again, that is [email protected]. Tell David and Stu you heard about them through the Military to Millionaire Podcast and they will get you going down the right path.

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Building Wealth: https://amzn.to/2ttiwpf

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Efficiency: https://amzn.to/2yvuu7K

Negotiating: https://amzn.to/2tmCyT7

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David Pere

David Pere

David is an active duty Marine, who devotes his free time to helping service members, veterans, and their families learn how to build wealth through real estate investing, entrepreneurship, and personal finance!

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