B-Class Property, A-Class Management: The Short-Term Rental Edge with Tim Hubbard

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"I'd rather have a B-class property with A-class management than an A-class property with B-class management."
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If you're within three feet of me, we're probably talking about real estate, much to my family's chagrin. But here's the thing, most people see 7% rates and freeze. I see opportunity. They're waiting for the perfect deal, and well, I've analyzed thousands of them, and perfect just doesn't exist. So I talk to operators across every asset class, flippers, multifamily syndicators, note investors, and whatever else is working.
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No sales pitches allowed, just real lessons from people actually doing it.
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I'm Ed Mathews, and this is Real Estate Underground.
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Greetings and salutations, real estate undergrounders.
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It's Ed Mathews again with The Real Estate Underground.
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Thank you so much for making this a part of your day.
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Today is a cool episode, and I know I say that a lot.
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But the fact is that the gentleman I have, Tim Hubbard, here from Corsley.
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He's the CEO and co-founder.
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Welcome to the show, Tim, by the way.
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Thanks for having me.
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Yeah I'm excited.
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We talk about multifamily, and that's, a huge subject on this show.
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And I, like I said in the past, we love bringing in assets, a- asset classes that are alternatives.
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And this week we're talking about, excuse me, this week we're talking about short-term rentals mid-term rentals, and a whole bunch of other stuff.
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Tim, welcome to the show.
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And so for those folks who haven't discovered you or Corsley why don't you tell us a little bit about who you are and what you do?
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Yeah.
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Yeah, thanks for having me, Ed.
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Happy to be here.
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It's always fun talking real estate.
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It's good to- So I started in real estate, yeah I started in the long-term rental world, and about 16 years ago.
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And shortly after that I got into short-term rentals because I saw more opportunity there.
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And I was investing in short-term rentals.
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I ultimately started investing outside of California, where I'm from originally, searching for better returns, better numbers.
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That led me to a couple other states.
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Eventually led me outside of the US, and I started a podcast along that journey called The Short Term Rental Riches.
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And a lot...
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Just talking about my journey with short-term rentals, a lot of people reached out asking how I was managing a portfolio virtually, and that sort of grew into Corsley.
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We had a team that was handling this core all the core operations behind a short-term rental.
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We were doing it virtually with my own portfolio, and now we do that for, hundreds of properties across the US and in, in multiple countries.
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So it's been a, it's been an awesome journey.
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But we're definitely focused just on optimizing short-term rentals, which is a, has gotten a lot harder, you know- Yeah over the years.
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Yeah.
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And for those folks who haven't discovered sh- Short Term Rental Riches I'm a fan of the show, by the way.
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Thank you for doing all that you do.
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Oh, thank you.
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And one of the things you talk about...
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So if you haven't discovered it, check it out, 'cause it's absolutely fascinating.
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I learn something.
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And, frankly, I learn strategies and tactics and things from a whole bunch of businesses.
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I don't have any short-term rentals, but some of the business operations and ideas that kind of get fleshed out on your show are things that, I can twist and turn and make them fit in my world as well.
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One of the things that- I find interesting, and it's something you and I have done both in our lives is working for, technology consulting companies, flying all over the place and running real estate as a side hustle.
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And, one of the things that I...
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you've mentioned in the past is, you kept working remotely until your employer discovered it.
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And what did that teach you about the w- what work actually requires physical presence versus, how's that shaped your thinking about working remote like you do today, and you hope other people do through Corsely?
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Wow.
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Yeah, I think there's a lot of underlying benefits from working remote that people maybe don't recognize in the beginning, especially for businesses that traditionally are hands-on.
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Yeah.
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And the big one is just that you can't be hands-on and be working remote.
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And if you are working hands-on, it means that you're very likely working in that business.
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And for, a business owner or entrepreneur that wants to grow a business, we know that's a dead end, right?
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At some point you have to stop working in the business and work on it.
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And so with real estate if you move 100, you move 50, 100 miles away from your property you're not there anymore, especially for short-term rentals, which require really quick attention.
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And so that basically forced me to figure out how to efficiently operate short-term rentals, which is traditionally a hands-on business but to do it virtually.
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So I think that's one of the really big ones, and that could apply to a lot of different businesses.
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Yeah, it applies to my business in multi-family world, right?
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It's interesting.
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So w- here we run, we do flips, we do multi-family and whole bunch of other stuff.
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We take what the market's given, right?
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And f- I always talked about, especially with the flipping business, I like to buy properties I can go out and touch them and physically.
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And y- over the last three or four years multi-family wise, those deals haven't really existed here in the Northeast.
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Unless you wanted to grossly overpay and overcapitalize and get over-leveraged and lose sleep and stress yourself out and freak your wife out, and all the other things that those- those poor people are doing.
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All the above.
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I choose to just, maintain my relationship with my wife and not freak her out.
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It's the...
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but it's interesting because, what you guys do at Corsely kind of solves that problem, right?
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Yeah, that, that's exactly it.
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We're basically helping others manage the whole back-end operation.
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And with short-term rentals, there's a lot of pieces to it.
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There didn't used to be.
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There didn't used to be a lot of pieces.
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You basically put your property on Airbnb, guests' expectations were incredibly low.
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You could have photos of your family there, and you could even get away with leaving some dirty laundry in the closet, and people wouldn't give you a one-star review because you were probably meeting that person at the property to rent it out, and so there was relationship there.
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It is so much different now.
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Pe- we're competing against some of the nicest hotels, and so the guests' expectation level is much higher and there's way more competition, and so there really are just dozens and dozens of pieces.
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And it requires a team and expertise to truly optimize all those pieces.
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Yeah.
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Y- it's interesting, you alluded to it.
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The, one of the things that, that I've, you've talked about in the past is how underrated urban markets are, right?
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And- that they're, a little less seasonal.
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And, so 'cause, like, when I think of short-term rentals, I think of golf courses and beaches, right?
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Yep.
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Yeah, that- that's what most people have thought about, vacation rentals.
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Actually, there's a very popular OTA or online travel agency is called VRBO.
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You've probably heard about it, but it's Vacation Rental By Owner.
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That's what the acronym stands for.
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And so that's where short-term rentals grew out of, but we know now that, people are staying in properties for a short period of time for all kinds of reasons.
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Maybe they're coming to an urban city because they wanna attend a conference and maybe they're...
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I was just in Miami last week at a conference, and I'm in a management group there, and they said, "Hey, you guys wanna rent rent a house together?
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And we'll all stay there instead of the hotel." I was traveling with my wife, so we ended up staying at the hotel, but otherwise I would've stayed with them, and that's just not possible in a hotel.
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And so there's all these reasons that have popped up, and people are living in short-term rentals now, too.
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That's right.
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So it's actually taken a fair percentage of housing.
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Yeah and so yeah it's definitely much more to it than just the traditional vacation rental markets.
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Yeah, medical professionals is one of the ones that comes to mind immediately where they're signing a 90-day contract- with a local hospital group.
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And, finding a rental is impossible so that, y- using a a short-term or midterm rental property is always a little bit better.
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Funny story, a guy, a buddy of mine Dave I won't share his name, but he he bought a gorgeous house in a very nice, in a very nice town, and it's just him and his daughter.
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And, one of the things that he did to make that work was he rents out, I think it's like a five or six bedroom house.
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He's got his bedroom, he's got his daughter's bedroom, and and then the other remaining three, four, five bedrooms he rents out to traveling nurses.
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And, it's a gorgeous place.
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It's a nice big pool and, yard to play in and barbecue and all that, and he lives in a great house.
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And, these people come in and out.
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And his only rule for his friends is you can't date the nurses.
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Other than that- the fact is that i- it's it works for everybody, right?
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So-
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Yeah
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he's able to a- afford a gorgeous house and basically serve the market as well.
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Yeah.
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Yeah, and that, you know- As an investor, we're just chase- chasing higher returns.
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You know what I mean?
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But when you're getting started, it...
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There, there's lots of opportunities with real estate.
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When I got started, I bought a fourplex.
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That was my first investment.
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I used an FHA loan.
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I put three and a half percent down.
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And this started as a long-term rental, but that was one of the properties I eventually ended up turning into a short-term rental.
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And I furnished one of the units, and it started renting.
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And it basically covered a large portion of that mortgage, so there's ways to do that house hacking a- and get into it- Yep even if you don't have a lot of money.
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But you'll get the experience earlier on, too, which will help you grow.
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And yeah, a lot of people have come into the short-term rental market and industry because there's just higher returns.
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It's really hard, as you were saying with multifamily, same as with long-term rentals.
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It's just really hard to find cash flowing properties these days.
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It is, yeah.
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And y- and, it's interesting.
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You look at the short-term business and the rule of thumb that I was always told, and I'd, I'll ask you to validate this, is that, for a single family home, if you can rent it for a dollar normally a short-term rental over the course of a 12-month period of time, that is actually $2 to $2.50 in terms of overall revenue.
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Is that your experience as well?
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Really depends.
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Really depends.
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Yeah.
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So back in the day, when Airbnb was just making a name for itself and guest expectations were lower and there was less supply and all of that I really started my podcast when I bought this eight-unit building, and they were all long-term rentals, and I converted it over to short-term rentals, and it was making eight times more than the long-term rents.
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But this...
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Yeah, it was, like, it was amazing, so I'm, like, super excited about it.
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And I share a lot of that on the podcast.
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But it's not like that anymore.
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It's not like that anymore.
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But there are still lots of places where you can earn multiples for sure, two, three, four times.
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It just really depends on the property.
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Luckily, we have a lot of tools these days where we can go in and see how many short-term rentals are in a market and what the average occupancy and the average rates are doing.
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And if the average occupancy's staying high and the daily rates are staying high even when a lot of new units are coming onto that m- market- Yeah then we know that's a pretty good market to be in.
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But if the opposite's happening, where, 1,000 units got added to a market, which is very common, to look back at, even smaller cities and see that 1,000 short-term rentals were added, if the occupancy got cut in half, then that's one you want to stay clear of, and- Yeah so we have this data now, fortunately, Ed, where we can just go on and we can underwrite a short-term rental just like we would an apartment building or some long-term rentals and really make an educated decision before we pull the trigger.
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Yeah, so tell me more about that.
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When you go to acquire a property or you're advising somebody to acquire a property, what's the buy box look like?
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Yeah, it depends.
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Then we have this other piece of short-term rentals which is that they can be fun to stay in.
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And a lot of times they are personal investments, too.
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A lot of people get started with short-term rentals 'cause they bought a second vacation home, or they bought their first vacation home, second primary residence.
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Yeah.
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And so that changes things.
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If you're not looking at it 100% as an investment, then you can't underwrite it as an investment.
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So you'd have to determine what that personal portion of it is worth to you.
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But to make things easier, let's assume it was 100% investment.
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There's some things that you can narrow down pretty quickly.
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How much money do you have to invest?
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That narrows down a lot of markets.
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If you're looking to invest in, Miami or something like that, then that probably not gonna happen if, unless you have a big budget.
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Yeah.
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And then speaking of Miami, they have a lot of regulations.
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So you also gotta check that too and make sure that the regulations in the city actually allow for it, 'cause you could get in a real...
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if you're buying a property to rent as a short-term rental and the rules change and you can't do that, then you better have some good backup plans.
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Yeah.
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So I think, de- determining your budget, determining if there's a personal component involved and then really it's just a numbers game.
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And again, we have all this data available.
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I like to have multiple options.
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So the more reasons a guest might stay at your property, the more consistent y- you could expect the occupancy to se- to be.
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So that's one of the reasons why I've liked urban areas, because there's lots of reasons that, that people might be staying there.
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But it's also easier to have more competition in urban areas oftentimes.
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And we've also seen the luxury segment basically just doesn't seem like it has a cap on it.
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If you have a truly luxury, luxurious property and there's not a lot of competition those properties are doing really well.
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So I guess comes down to budget, if you've got a good management option in place which doesn't have to be local, and if the regulations are, allowing short-term rentals, those are some good places to start.
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Yeah.
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And as you're looking to get into this business, it's, so I'm a newbie, right?
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So I start to look in, let's say, Boston, and I find a property.
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It makes a lot of sense and but I live here in Connecticut.
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I live two hours away, and y- one of the things that from a management perspective has always been like I'm not really sure I wanna do this," is s- there are so many more moving parts in a short-term rental than there are in, other types of investment properties.
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Talk me through that.
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What are the considerations that you need to make as you're contemplating, "Okay, is this a good fit for my, investment portfolio?"
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Yeah, sure.
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Ma- management's super, super important.
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I I come from the traditional real estate side, and there's a mentor of mine that they always say the, "I'd rather have a B-class property with A-class management than an A-class property with B-class management." And that's even more true in the short-term rental world because, you can literally have two properties that are almost identical to each other or maybe are identical.
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Maybe they're in the exact same building, same amenities, everything, and one can earn twice as much as the other one- Right based on reviews and how it's been performing and how it's marketed.
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And and management becomes really important.
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Luckily, what we've discovered is that a lot of that operation doesn't have to be there on the ground.
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In fact, most of it, for a short-term rental, can be done virtually.
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And so I think the biggest thing is making sure the expectations are set right.
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So whether you're using a local property manager or using a virtual manager that's communicating with your housekeeper and maintenance staff we wanna make sure that the expectations are set right, and that's gonna ensure that you get good reviews.
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But we've also had a lot of new technology come that's available, and that's made it way easier.
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Back in the day when you had to do a key exchange or something like that that's a pretty big operational bottleneck.
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But now everyone's used to just showing up, entering a four-digit code and having access, and actually they prefer that most of the time, where they don't actually have to meet with someone.
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They like the privacy.
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Maybe they were traveling for the last eight hours or whatever it happens to be.
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And so by using some of the new technology, home automation we can facilitate the whole short-term rental operation.
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And so with good expectations, with the property advertised properly And using the right tools.
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It really just comes down to making sure the property gets cleaned well and it's maintained.
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Yeah.
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And, one of the side, one of the things that's happened with a market or with so many new short-term rentals hitting the market is that there's a lot more people working with short-term rentals.
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So there's a lot more people servicing them.
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And to find a housekeeper and maintenance is, it's a lot easier than it was.
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Yeah.
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I wouldn't say that the quality is always great, but that comes down to organization, and that comes down to expectations as well.
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So I guess all this was, like, a roundabout answer that management's really important you know.
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And if you do get it right in the short-term rental world, you can really e- excel and exceed, even your neighbor's revenue.
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Yeah.
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I've got a good friend of mine who has so she lives in here in Connecticut, and she owns two properties in Joshua Tree, I think, in, in California.
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And she's absolutely killing it, although she's an exceptional manager.
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That probably, and that probably helps.
00:18:17.498 --> 00:18:24.337
So talk to me about, I wanna make sure I understand how your company kind of fits into the model, right?
00:18:24.337 --> 00:18:30.346
So you have- Yeah maintenance and and maid services on the ground obviously.
00:18:30.346 --> 00:18:34.086
And then everything else is managed where and how?
00:18:35.223 --> 00:18:36.183
Yeah.
00:18:36.183 --> 00:18:37.584
Yeah, so everything is virtual.
00:18:37.584 --> 00:18:38.963
Our team's all over the place.
00:18:38.963 --> 00:18:44.943
We're in Eastern Europe, South Africa, the Philippines, South America, where I've spent a lot of time.
00:18:44.943 --> 00:18:46.364
My partner's Canadian.
00:18:46.364 --> 00:18:47.992
So we're completely virtual.
00:18:47.992 --> 00:18:51.494
And we're experts on all the back-end operations.
00:18:51.494 --> 00:18:58.144
We've managed tens of thousands of guests across tons of different property types, across dozens of different cities.
00:18:58.144 --> 00:19:01.864
And so we have a lot of experience with short-term rentals.
00:19:01.864 --> 00:19:03.084
That's our main focus.
00:19:03.084 --> 00:19:03.384
Yeah.
00:19:03.384 --> 00:19:06.463
And we take off that whole back-end operation.
00:19:06.463 --> 00:19:10.304
So if someone has a short-term rental we take over their listing for them.
00:19:10.304 --> 00:19:12.784
We make sure it's marketed in all the right places.
00:19:12.784 --> 00:19:15.084
We make sure that we're getting good guests in.
00:19:15.084 --> 00:19:18.624
We're making sure that we're pricing the property really well.
00:19:18.624 --> 00:19:26.564
So you know, you can create a really beautiful listing on Airbnb, but if it's not priced really well, then no- it's not gonna show up.
00:19:26.564 --> 00:19:30.824
Airbnb I think displays 18 properties on their first page.
00:19:30.824 --> 00:19:32.054
18, that's it.
00:19:32.054 --> 00:19:41.074
And if you're in a market with 1,000 properties- and it's gotten more difficult, then you're gonna be buried unless you're doing a really good job and staying on top of things.
00:19:41.074 --> 00:19:44.473
We handle the pricing, and then we handle all the guest communication.
00:19:44.473 --> 00:19:46.713
So we handle all the messaging.
00:19:46.713 --> 00:19:48.734
If there's an issue, we handle that.
00:19:48.734 --> 00:19:57.774
And then we work with our partner's housekeepers and maintenance on the ground to make sure that they know when there's a checkout and to confirm that whole process.
00:19:57.774 --> 00:20:05.054
So we basically handle the whole process except that we don't hire the people on the ground, and we don't pay them.
00:20:05.054 --> 00:20:06.234
So that, that- That's
00:20:06.274 --> 00:20:06.544
your job
00:20:06.734 --> 00:20:08.504
as the owner relies on the owner, yeah.
00:20:08.564 --> 00:20:08.703
Okay.
00:20:08.804 --> 00:20:09.864
But yeah.
00:20:09.923 --> 00:20:10.223
Actually like
00:20:10.244 --> 00:20:10.294
that.
00:20:10.294 --> 00:20:10.963
That's it.
00:20:10.963 --> 00:20:11.923
That's it in a nutshell.
00:20:12.314 --> 00:20:18.134
Yeah, being the control person that I am I actually like being responsible for hiring the people that are touching my property.
00:20:18.134 --> 00:20:18.784
So that's a good thing.
00:20:18.784 --> 00:20:21.443
Okay, so let's move on to the lightning round.
00:20:21.443 --> 00:20:25.703
And I- one of the things that I'm always interested in is meeting leaders like yourself.
00:20:25.703 --> 00:20:32.565
Y- financially you're- you've done very well, so money's probably not the motivator that it e- even was at one point.
00:20:32.565 --> 00:20:38.144
So you know, but there is something that gets you out of bed on Monday mornings to, to go to work.
00:20:38.144 --> 00:20:39.475
Fire out of bed like a shot.
00:20:39.475 --> 00:20:41.644
And I look at that as purpose, right?
00:20:41.644 --> 00:20:44.525
And so I'm curious about your purpose.
00:20:44.525 --> 00:20:46.295
What gets you out of bed on Monday mornings?
00:20:47.837 --> 00:20:48.438
Great question.
00:20:48.438 --> 00:20:52.788
I guess first of all I would say I think this is something that changes over time, sure.
00:20:52.788 --> 00:21:01.107
So my purpose earlier on was to build a successful real estate portfolio to give me financial freedom to be able to travel.
00:21:01.107 --> 00:21:14.316
And I did that and I traveled a whole bunch of places and it was great, but now things have changed, I started the podcast and the purpose behind that was to educate people, and so that's exactly, what I've been do- doing over the last six years.
00:21:14.316 --> 00:21:17.225
And my purpose is not to answer guest messages.
00:21:17.225 --> 00:21:18.585
I don't like doing that anymore.
00:21:18.585 --> 00:21:19.684
You know what I mean?
00:21:19.684 --> 00:21:21.524
And we built Corsely to do that.
00:21:21.524 --> 00:21:39.805
But I feel like I'm still really on the educational part, not just because of the podcast but, the owners and the property managers that I meet with on a regular basis that are considering joining Corsely, I get to educate them about, maybe what they could optimize with their portfolio, whether they join us or not.
00:21:39.805 --> 00:21:44.437
And the reality is it's there's just a lot of been focused on this.
00:21:44.437 --> 00:21:48.607
And a lot of people we work with, maybe they have side jobs or, maybe they have families.
00:21:48.607 --> 00:21:51.606
And so I'm still on the education side of things.
00:21:51.606 --> 00:21:58.817
I think it's just taken a little bit of a different turn where I'm very often one-on-one educating people, to try to help their portfolio.
00:21:58.817 --> 00:22:00.518
So- Awesome I would say education.
00:22:01.057 --> 00:22:01.258
All right.
00:22:01.258 --> 00:22:02.097
Right on.
00:22:02.097 --> 00:22:05.507
So I'm also curious about, you're talking about you being a mentor to people.
00:22:05.507 --> 00:22:12.366
I'm curious about the mentors that you've had in your life, and specifically what's the best advice you ever gotten?
00:22:12.366 --> 00:22:13.027
Who gave it to you?
00:22:15.123 --> 00:22:16.223
That's a tough one.
00:22:16.223 --> 00:22:21.782
So I've, always been big into self-development Jim Rohn all the most popular names.
00:22:21.782 --> 00:22:26.622
I think probably the biggest one, I was in this group a good friend of mine put together.
00:22:26.622 --> 00:22:27.822
It was like a marketing group.
00:22:27.822 --> 00:22:28.362
But...
00:22:28.362 --> 00:22:33.804
And actually he used to work with a lot of those self-development coaches and authors.
00:22:33.804 --> 00:22:38.124
And Dennis Waitley was in some of our calls.
00:22:38.124 --> 00:22:39.924
He was really well-connected.
00:22:39.924 --> 00:22:51.875
And so I would say he's had a big influence, and maybe one of the most profound statements hopefully I don't butcher it, but I think it was something like, "We have, two choices in life.
00:22:51.875 --> 00:23:10.467
We can accept the way things are, or we can accept the responsibility to change them." And I think that's just a really profound, deep statement that, we can do basically whatever we want, but we've gotta we gotta accept the responsibility to make some changes.
00:23:10.948 --> 00:23:11.487
Love that.
00:23:11.487 --> 00:23:22.683
So I'm also curious about, I, I just, I fundamentally believe and I'm the leader in this in this respect I think you learn way more from your mistakes than you do from your successes.
00:23:22.683 --> 00:23:30.004
And so I'm curious about a decision that you've had over the years that you look back on and go, "Ah, I didn't get that man.
00:23:30.004 --> 00:23:32.403
I'd love to have that one back." And how'd you handle it?
00:23:34.307 --> 00:23:34.548
Yeah.
00:23:34.548 --> 00:23:49.111
Oh I guess one of the most stressful decisions or challenges that I had was not budgeting enough for big renovation projects, especially when I was tackling it myself.
00:23:49.111 --> 00:24:00.417
I know a lot of us are guilty of this, and it's hard to guesstimate, but I think there's enough data out there to know that we should always be conservative because basically budgets always go over.
00:24:00.417 --> 00:24:05.866
And so- Yeah in my earlier days, yeah I got into a bigger project that required a lot.
00:24:05.866 --> 00:24:14.076
And fortunately I was able to find a bank in the end to, to help me with a short-term loan, but I was getting stressed real- really quickly.
00:24:14.076 --> 00:24:17.927
And what I learned from it is that I, all, I...
00:24:17.927 --> 00:24:21.298
One, I don't really like that, doing that, like giant renovations.
00:24:21.298 --> 00:24:27.798
And so there's a project that I've been working on for quite a while, and we have an architect, and he's the project manager, and he's doing a really good job.
00:24:27.798 --> 00:24:36.898
So I think for all the things that we maybe don't like doing and maybe don't do a good job at, there's always someone else out there that does do a good job at it.
00:24:36.958 --> 00:24:37.458
Yeah.
00:24:37.617 --> 00:24:38.617
And we gotta keep that in mind.
00:24:39.076 --> 00:24:39.317
Yep.
00:24:39.317 --> 00:24:40.437
Couldn't agree more.
00:24:40.437 --> 00:24:43.978
I always talk about the fact that I abhor bookkeeping, right?
00:24:43.978 --> 00:24:48.227
I just, I would rather do anything else than keep than do bookkeeping.
00:24:48.227 --> 00:24:57.226
But you know- Yeah so we hire somebody who's way better at it and actually is passionate about it and gives me- the reports I need to run the business instead, and that makes me a lot happier.
00:24:57.226 --> 00:24:57.605
Yep.
00:24:57.605 --> 00:24:59.885
I'm also curious about how you take in information.
00:24:59.885 --> 00:25:05.756
So what's the book on your nightstand or, virtual book on your phone or however you take in information?
00:25:07.956 --> 00:25:10.076
I'm gonna give two really quick 'cause it's hard to choose one.
00:25:10.076 --> 00:25:17.184
And one will help r- a lot of people with that last question, which is helping, finding someone that's better at something, and that's Who Not How.
00:25:17.184 --> 00:25:17.546
Yes.
00:25:17.546 --> 00:25:20.645
That's a great book if you're looking for help.
00:25:20.645 --> 00:25:27.767
But I would say the most influential book in my life that's on my bookshelf and I've read through so many times is called The Slight Edge.
00:25:27.767 --> 00:25:30.408
And this one's, yeah, not as...
00:25:30.408 --> 00:25:31.927
It's by Jeff Olson.
00:25:31.927 --> 00:25:44.798
And it basically, talks about how the little seemingly unimportant things that we do every day are actually really important when they're compounded over, months and years.
00:25:44.798 --> 00:25:47.708
And it's just another perspective a- on that.
00:25:47.708 --> 00:25:49.087
So that's a really good one that-
00:25:49.168 --> 00:25:49.587
Cool.
00:25:49.587 --> 00:25:50.668
I am gonna check that one out.
00:25:50.668 --> 00:25:51.067
Thank you.
00:25:51.067 --> 00:25:55.499
And we'll obviously this'll go on our reading list for everybody as well.
00:25:55.499 --> 00:26:00.519
Last question and I'm curious about how you define success in your life.
00:26:03.601 --> 00:26:04.661
Yeah, good question.
00:26:04.661 --> 00:26:20.530
Maybe that comes back to the Denis Waitley quote, which is like- Yeah if you are at a place in your life that you are not happy with first of all, I think w- we need to reflect on our lives, and spend some time really thinking through what we actually want.
00:26:20.530 --> 00:26:24.841
But I, every, it's different for everyone, what success is.
00:26:24.841 --> 00:26:37.020
So I would say success, a successful person is one that's actually taken that responsibility to go after what they do truly want- Yeah versus the one that's just let life pass them by.
00:26:37.520 --> 00:26:37.861
Awesome.
00:26:37.861 --> 00:26:40.500
I've really enjoyed this conversation, Tim.
00:26:40.500 --> 00:26:41.780
Thank you again for your time.
00:26:41.780 --> 00:26:45.661
When you're not working on real estate, what do you like to do for fun?
00:26:47.621 --> 00:26:48.621
I like to play tennis.
00:26:48.621 --> 00:26:50.131
Tennis is good.
00:26:50.131 --> 00:26:51.851
I still like to travel.
00:26:51.851 --> 00:26:54.010
And go to new places.
00:26:54.010 --> 00:27:02.150
And yeah, I'd say those are two big, but I do really enjoy talking to other o- investors and, other people in the real estate space.
00:27:02.150 --> 00:27:04.630
So those things.
00:27:04.630 --> 00:27:04.650
Yeah.
00:27:04.650 --> 00:27:04.920
Reading.
00:27:04.920 --> 00:27:05.990
Reading for sure.
00:27:05.990 --> 00:27:07.000
That's definitely high up there.
00:27:07.000 --> 00:27:07.620
I love learning.
00:27:07.620 --> 00:27:08.059
Yeah.
00:27:08.160 --> 00:27:08.519
Right on.
00:27:08.519 --> 00:27:14.700
So h- if if people wanna get to know you or learn more about you or your business what's the best way to do that?
00:27:16.440 --> 00:27:16.700
Yeah.
00:27:16.700 --> 00:27:18.940
You can find us at corsley.com.
00:27:18.940 --> 00:27:20.490
I think that's probably the best place to go.
00:27:20.490 --> 00:27:20.549
Okay.
00:27:20.549 --> 00:27:25.380
That's our virtual management company and we'll have some links and things on there.
00:27:25.380 --> 00:27:30.750
And then my podcast is Short Term Rental Riches, so that's on all the podcast outlets and also on YouTube.
00:27:31.130 --> 00:27:31.670
Right on.
00:27:31.670 --> 00:27:32.470
Awesome.
00:27:32.470 --> 00:27:34.779
Tim Hubbard, thank you so much for joining us today.
00:27:34.779 --> 00:27:39.460
It was a pleasure to meet you, and hey man, continued good fortune.
00:27:39.539 --> 00:27:39.940
Thank you, Ed.
00:27:39.940 --> 00:27:41.160
Thanks for having me on.