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- [00:00]
A
All right everybody, good morning, good afternoon, good evening and welcome. Wherever you are tuning in from around the world. I know that we have a multi world audience. We've got people tuning in from Australia, New Zealand, we've got people from over in the States, we've got UK and Europe and South Africa and Dubai and everywhere. So thank you very much for tuning in. This is day two of three days of the boost your bookings Boot camp. This is a very special MTR edition. Yesterday we did a full hour with Ryan Luke who's based in the UK and he was talking about how he went all in on the contractor model as part of the MTR and why and how he finds properties. Today I've got the amazing Dr. Rachel with me and we're going to talk about some really cool tools, including AI. But I know a lot of people are eager for today, Rachel, which is great. Before we start, do a little bit of, a little bit of admin for everybody. On the right hand side there are a couple of boxes, there's a chat box, there's a question box. Please make sure you take full advantage of the two. First and foremost to get started. Nice easy question is just let us know where you are tuning in from around the world. So as you are coming in, whether it's live or on the replay, just let us know where you tuning in from around the world. And then also as well, I'd be really interested to know, are you operating in the MTR strategy already? Me a yes or give me a no. Really? Cool. Okay, so Rachel, you've got some slides today. Ryan didn't come with slides but you have come prepared. I've had a little sneak peek and they are looking, they are looking good. So when you are ready, please go ahead and share them and I hand the floor over to you. We will do questions and answers at the end but I will say this is if anything comes to mind, if anything at all goes, oh, I wish. I want to ask Rachel that. Go to the tab that's got the little question mark on it and type your question because then other people can upvote your questions. It's really cool. And we'll do them at the end. So Rachel, the. The floor is yours. I'm really keen and eager to this one because I know how much we have both been chatting about AI and tools this year and I'm excited to see how we plug this into the MTR strategy.
- [02:10]
B
Thank you. Thank you, Mark. Welcome everyone. Happy Tuesday. I think it's Tuesday for most people. People in the world. Welcome to our session today and I really want to share with you some of the massive leaps that I have identified just over the course of the last six months or so and how we're using AI, particularly a tool that many of you have access to to really dive into what's going on in our market. So welcome to our session today. What if I told you that most short term rental host, they're fighting over weekend bookings, vacation warriors. And there's a completely different market paying one and a half times to three times more for longer stays and that is our midterm rentals. And so today I'm going to share with you some AI secrets that give short term rental hosts a massive leg up with midterm rentals. Because at the end of the day, one of our biggest pain points is the constant turnovers, the guest complaints with short term rentals guests. So give me one in chat if you are tired of cleaning up after a major bachelor's party or bachelorette party. Give me one in the chat if you are tired of dealing with maybe some neighbors that are not so happy with the frequency of your guests that are coming in and out in, in the community. Let's see.
- [03:40]
A
I think we need to get everybody waking up today because some people are tuning in at 7, maybe 8am but yeah, in the chat there's a box on the right. Make sure you tap that box and then you can type in ones or twos of freeze. Lets us know get. Let's get some waking up today because I know yesterday you were a little bit quiet. So Dr. H. It's our job today to get them active.
- [03:58]
B
Yes, that's right. I want to see who's here. If they're not tired, Mark, then my work here is done. They got figured out. Awesome. So let me know in the chat. And for some reason a little emoji. I feel like it's blocking my chat box. But nevertheless, but either way, I know that I was struggling with that. So we have transitioned half of our portfolio to primarily focus on midterm rentals. And back in 2019 is when we started to lean in, into the insurance midterm rental strategy. And so we're going to cover that in detail in just a moment. However, depending on what market you're in, there are some secondary midterm rental guest avatars that I want you to pay very close attention to. Okay. And they are the following. We have academic housing, seasonal workers, the film and entertainment industry, flight schools, construction workers. I know Ryan did a really Great job yesterday sharing with us his work he does with the construction workers and so many more. And this completely blew my mind that there is a demand for furnishing housing in nearly every single market, but 90% of hosts do not know how to tap into it. And so my job today is to show you exactly how to tap into what are the midterm rental avatars that are specific to your particular market. Okay, who's excited about that? Give me a one if you're excited about that or yes, yes, in all caps. Who wants to know? Specifically the midterm rental avatars that are very particular cheer market.
- [05:52]
A
Well, I'm excited. I'm very excited to hear this. I know as people start to wake up and get their coffees down and then they'll be excited as well.
- [06:00]
B
Awesome. All right, so here's what most short term rental hosts are missing. We're. We really are sitting on a gold mine and we don't even know it. There are first and foremost insurance companies in nearly all markets. As long as there are residential homes that the owners can occupy, these insurance companies, they have larger budgets. However, whenever there is a disaster or something accidental that occurs, say it's a kitchen fire, right? The teenager is cooking, and all of a sudden the house catches on fire. Well, there's an allowance that that family gets to use to stay in a property for months and months while their home is getting repair. Okay, so let's test it out. I had a client a couple of weeks ago ask me, Dr. Rachel, is this property ideal for a midterm rental? And at first glance I said, yeah, possibly. So I'm going to walk you through exactly what I did and the results that we received. Okay, so I grabbed the address, the bedroom count, the bathroom count. Okay, so we're determining will an MTR work in this property. Okay, grab the address. The bedroom count, the bathroom count. I grabbed my mid term rental custom GPT and I'll be sharing that with you at the end. Exactly what it is. And I entered in the address into that custom GPT. So if you're multitasking, come back to me. This is where AI becomes your unfair advantage. Okay. And I'm going to be sharing with you exactly the custom GPT that yielded me these results. So the results were it provided me three ideal guest avatars and three types of guest profiles that come into this market, the latest and greatest bits of information. So meet your favorite guests if you're purchasing that property or if you have a property and that particular location, that is a location called Tallahassee, Florida here in the U.S. this is the number one guest avatar you should be targeting Amazon and infrastructure crews, they come in six to 10 people deep. They're building out a 630,000 square foot robotics facility in that area. And they stay in phases 60 to 120 days at a time. And it continues to share their budget, it continues to share their must haves, it shares the type of decision maker, who is the booker, who is booking the property, the channels they're using, how to win that particular contract, how to win that listing. And so I'm going to share with you an example of some of the construction crews that we have worked in, worked with. Okay so we had a crew that was staying at a motel which is one of those hotels that are, you know, on kind of the side of town that is a little bit more dangerous. And because they were on that side of town, unfortunately their equipment, some of it was stolen. And these are very, very expensive equipment. Some were stolen and some were tampered with. So when this particular customer GPT tells you that a hero image of the driveway capacity is important, well, they want to know that they have capacity to park their trucks. They may come in with three, four very large trucks or they're also looking for safety. You can see this area is a little bit more secluded. And so if we were to reverse engineer this situation, if you're looking to apply acquire a new property, your, your radar should go up when you see a very large driveway. That should be a key to you like oh this, this can work. Your radar should go, go up if you see a little bit more privacy, you know, and you, you would think to yourself that could work as well. And from there the custom GPT provides us some intel on the seasonality. So what to do in a variety of seasons. So most hosts, they panic during the slow seasons. Smart and mature rental know exactly when the construction crew is coming in. What is the legislation staff doing? When to focus on the insurance housing the most. And for that address, remember we entered in an address in Tallahassee, Florida for that particular address Mark. It provides us an idea of our seasonality playbook. So from January to February, legislation staff Tallahassee happens to be the capital of Florida, meaning a lot of political, legal things are happening in that particular area. And so January, February, they arrive. FSU spring hires arrive. FSU is a state university as well. So we're looking at academic higher education, we're looking at political campaign staff. The session peaks and it shows you a Variety of different avatars that you want to keep your eyes on so that we're more proactive and we're not as reactive. And that is where I'm so grateful for AI because before we were consistently reactive, consistently scrambling, trying to figure things out for ourselves, a lot of grassroots efforts. However, when you have a seasonality playbook, you have a little bit of an insight on how to map out your year, your expectations, and so on and so forth. So we've done this really well for the short term rental properties and I think it's time, it's very time for us to work on this for midterm rentals as well. Now, when it comes to the bookers, typically with short term rentals, it's you or I, Mark, booking for our families and figuring things out. However, for these midterm rental guests that the ones that we want to work with, the corporate midterm rental guests, oftentimes it's a third party booking on their behalf. It's a whole different decision maker that is approving these bookings. And these decision makers, they have access to hundreds of thousands of dollars in budget to a million dollars in budget to house their people. So whether it is hospital, hr, corporate housing managers, project managers, insurance adjusters, just to name a few, and inside of the custom G that I'm going to be sharing with you guys, I'm actually providing you a few specific key examples. I blocked them out because I know this is crowdcasting out to the world. You don't want us to spam these particular individuals. I would love for you to do this particular exercise for your market property that you're actually interested in and those are the exact names of those individuals. And again, I just want the shortcut. Find me the shortcut. Find me the latest and greatest when it comes to this particular, this particular strategy. Okay, so before we dive into the insurance side of things, which I want to break down a little bit, Mark, I wanted to pause, I feel like I've been talking for a minute. I wanted to pause and see if you had any insights, questions or if there are any questions coming in just to make sure we get to them before I shift gears a little bit to focus more on what is this whole midterm rental insurance strategy.
- [13:41]
A
Yes. So this is, this is really, really good and insightful and I have heard for someone's message me on WhatsApp just now to say that they've tried to put a post in the chat but Crowdcast wouldn't allow it for some reason. So if you're struggling. If you're struggling to be able to post a chat or a question, just let me know. I just need to know that you can chat. If you can just try. If you go to the right hand side and we've got qu. Quite a lot of people in with us in the room. So I have a Richard, Graham, Timothy, Sonia. Hello. If you could just go to that little chat box and just put in the number one or. Yes, I just need to know if you can post and if not, then I know that that's broken and I will go and look on the WhatsApp for questions because we do have a WhatsApp group chat going on. But this is, this is very good. I'm looking forward to seeing more about the custom GPT. This is obviously key and this is how you can use AI to do a lot of the. The hard work for you. So it does look like the chat is broken. So I'm gonna have to go into WhatsApp. Unfortunately means, Rachel, you won't be able to see the chat as it comes in, but I will monitor it and when questions and anything does occur, then I will ask you. But also as well, if people want to message afterwards, you can do hopefully crowdcast chat will be fixed by then. But also though, you can send me a message on, on Instagram and we'll obviously share Rachel's Instagram details as well. So as you are, Rachel, this is very good. I'm looking forward to that. To the next bits.
- [15:00]
B
Awesome. Okay, so now let's go back to a little bit of concept and then we're going to do a bit more AI in just a moment. Okay. So I wanted to share with you and Ryan did a great job of sharing with you the construction crew. I'm going to share with you my go to my favorite avatar to serve. And that is families who are displaced from their homes due to a disaster. And I've alluded to that a moment ago. So first, here's the whole workload. Say a family's home is damaged. Next up, their homeowner's insurance finds them a fully furnished home, your home, to stay in while their home is being repaired. They move into your home, that homeowner's insurance company, they pay you month after month after month. And that is the whole strategy. I stumbled upon the Strategy back in 2019. I was on the struggle bus, working a full time W2, fighting for my life, like many of you who are here today and just trying to pay off half a million dollars of student Loan debt between my husband and I. And when we stumbled upon short term rental investing and we quickly identified this midterm rental avatar, it really changed the game for us. And fast forward to today. That is what landed us on a Netflix TV show. It allowed us to step away from our W2. We had the pleasure of getting on this little podcast that Brandon Turner's hosting called Better Life, where I focus on less is more. So with our portfolio, it has grown between partners and as we have a portfolio of around 50 or so properties. However, for me, it's all about giving back and the ability to help others get into real estate. Especially burnt out W2 workers, those who are working full time, those who are in health care for the most part. And so we've had the pleasure of helping over 500 members in our community leverage this particular strategy. And so I want to share with you a few of our clients who have leveraged this midterm rental insurance strategy. Dr. Gabby, she helped a family who had fire. It was actually water damage to their home. She's an OBGYN out of the Tahoe market. That very first booking she got was $2,400 a week. Sometimes we quote at a weekly rate to start because for some reason those temporary housing agencies that work with the insurance company, they like to see the quote at a weekly rate. Some of them like to see the quote at a monthly rate. So we go back and forth. And so it's more palatable to quote it at a weekly rate at 2400 than 9600 or whatever that comes out to for the month. And she was able to win that particular deal. The inquiry came to her from Airbnb, believe it or not. Dr. Mason, he's a pharmacist out of Boise, Idaho. So in Boise has one level property. And when your property is just one level, I think that is another unfair advantage because some families, when they come to you, they may have a grandparent with some mobility constraints, they may have a child with special needs. And so having one level is really powerful with this particular strategy. And so he has a two bedroom, two bath in Boise, Idaho. The very first family he got to serve was one with that encounters some fire damage. And this is an example in last September, one of the insurance companies reached out to me. This is the fair rental value that they were willing to Pay. It was $14,657.14 per month. Yeah. So it is a, it's, it's a worthwhile, worthwhile avatar to serve for sure. This is Vivian Another client of ours sharing her very first check. This is Gordon. What was interesting with Gordon, the family that he's serving, the disaster was really different than anything I had ever encountered. So a family had the home pressure washed by a company routine. We're taking care of our home. We're getting it pressure washed for the season. However, the psi on the pressure washer, I believe was too high. The water seeped in into the particular property. There was damage, there was mold. And so they were displaced because of the mold.
- [19:37]
A
Wow.
- [19:38]
B
Yes. And so on and on. Ziana Rubin is actually one of our first clients that I can't wait for him to share with you tomorrow. He's become quite the marketing expert for midterm rentals. And so what are the different types of damages? There are two categories of damage. And when we understand more about these types of catastrophes, we put ourselves in a position to serve and to help these clients that come into our world. And so there's accidental, also known as man made catastrophes, a leaky appliance, a water pipe that burst. And then there's natural catastrophes, storm related catastrophes. Many of you have seen what just happened, happened in California, Palisades. And so at this moment, we're still looking for 300, no, 600 homes because there are 600 families that are displaced and there's just not enough homes to serve them. And when it comes to the man made versus natural, depending on where you are in the market, you may see more of one versus the other. For me and our markets, man made claims are our top, meaning water damage due to a leaky appliance or plumbing issues or fire that's caused by a kitchen cooking accident. Those are the vast majority. And then there's natural claims. Those are your hurricanes, tornadoes, extreme weather. That's only 20% of our stays. In the United States alone, according to Scientific American, there were more than 3 million Americans displaced from their home in 2022. And so to say that this is a fad or this is not something we as investors would pay attention to is going to be very, very foolish because that number continues so to rise and rise year after year. So it's really important that we lean in. This is my primary avatar of choice. I have a few secondary avatars based on the specific market. And now I'd love to get into a demo, Mark, if that's okay with you.
- [21:58]
A
Absolutely. Fine by me. Everybody's loving it in the chat. So yeah, keep on going, please.
- [22:04]
B
Awesome. Awesome. And then I have my what we can connect I'll share this our short term gems and boostly. So the demo is the custom GPTs. Oh wait a second, where did. Oh, there it is. There we go. Okay, so just to show you, just to show you how much I love our international guests, I wanted to use that same example with an address that is overseas. So I have a four bedroom, three bath house at 18 Victoria Street, Windsor, Queensland 4030 Australia. Who are our most profitable guest avatars? Okay, so that's essentially the question that I'm asking. And so let's see. Yep, you're seeing my goal now. I'm going to share with you spirit specifically the output and then I can show you how I'm entering that into Catch Chat gbt, the custom GPT. So I have a custom GPT. This is our midterm rental guest avatar creator international. And so I have the same exact question I shared with you on the slide and the way that this custom GPT works, I want some numbers. I want to know first of all, is it a good idea to invest in that particular market? Is it a go or no go? And according to my custom GPT and of course talk to your financial advisor. I'm not your financial advisor but it does say go. It says that, yeah, it thinks it's a good idea and it breaks down the capex which is kind of like the profitability numbers, the biggest risks, some regulatory information that you should be aware of and it goes on and on to start off and then it starts at number two at our guest avatars. And I gotta tell you Mark, whenever I do this I'm surprised because even I don't know these particular advertises like well, you don't say. So rail riders, site supervisors, what?
- [24:11]
A
Try saying that five times first.
- [24:14]
B
Right, like who are these people? So I got really, really intrigued. They're 4 to 6, senior engineer supervises ages 28 to 45 earning 160 to 220k employed by cross River Rail. These companies, why they stay, they oversee the nice shifts, their budgets per month paid on corporate card. Wouldn't you like to know that? Right. The length of stays, 90 days per, 150 days per contract rotation must have five car parking, blackout blinds and it goes on and out. So that is our first batch. Who's the booker? The booker is the site superintendent. The booking channels they use SAP Concur or direct LinkedIn how to win them and it shares, you know how. What's the value proposition? What value are you providing to put you in the best possible position so that is the first avatar. The second avatar is North Brisbane Blood Fix Insurance Families. Okay, I'm learning a lot. I'm learning a lot. Julie George, where are you? Eat your heart out, let me tell you. And then here's our third midterm rental. And so the way we train this engine, this little custom GPT, is since my philosophy is less is more, every property has to stand on its own two feet. So my goal is to solve big problems so that I can make the most revenue possible from an investor perspective. So I want to know the avatars that, that are going to have a little bit more of a budget, that are not going to be as price sensitive, that can pay what it is that that property is worth.
- [26:02]
A
So sorry, just one, just one super quick thing there because it's a theme that I think I may have missed, but I definitely got it from Ryan yesterday. Did you say less is more in terms of the property that you have and the things that you put in the property? Is that what you mean by that?
- [26:17]
B
Less is more from a portfolio growth perspective? Yeah, for sure. And then from a decor perspective, these avatars, you don't need as much either. So both.
- [26:30]
A
Yeah, I think that's, that's really interesting because Ryan said the same thing yesterday. So he obviously grew to like 400 properties with the short term rental model scaled all the way back down to now. He's under 60 with the MTR model and again with the decor with the short term rental market now, and you will have seen this, Dr. Rachel as well, is that everybody's having to put in pickle ball courts, having to put in, you know, jungle themed, you know, all the things in their short term rentals to try and stand out, to be like an OMG Airbnb is what I sort of describe it as. But with the MTR market, like you said, you want to make it feel a little bit more home vibey. Less is more. So you can have a, a smaller portfolio, which is nice. Less obviously upkeep and less stress, but also as well with the decor and what you have to sort of do inside the properties to get them MTR ready, it's less as well. That's a really nice little common theme that I feel like we're getting here. So thank you for explaining that.
- [27:25]
B
Yeah, absolutely. And if you want to add just one room to give it a little bit of a pizzazz and personality, feel free to do so. However, think about it this way. These families, especially those who are displaced from their homes, they're coming from a little bit more of a traumatic situation. Their senses are heightened and you don't want to put them in a. A banger of a Disney home where it's like, oh, my God.
- [27:51]
A
Yeah. Well, you're looking at, looking at Mickey Mouse every day or looking at Buzz Lightyear, Muriel every day. That's like neon. Yeah.
- [27:59]
B
It'S a bit much. It's a bit much. Yeah. So I don't want to necessarily bore you through these avatars, but for me, I found them very, very fascinating. They're must haves. And again, the must haves, it's not saying we need, you know, Instagramable wall. Right. That's not a must have. When they're telling you parking, like parking for four trucks is a must have. It's. It's definitely a different avatar from a price sensitivity perspective. It breaks down, down for you the lean seasons, what that's going to look like, the peak seasons and the inclusions as well, depending on the channel. And from there, the seasonality playbook. So we saw that with the Tallahassee property location that we're testing out. Here's the seasonality playbook for this Brisbane, Queensland property. Cyclone and flood season is January to February. So we'll see a spring spike in insurance days around that time. March to April, construction ramps up post wet target rail riders, May to August, corporate blocks, September, and it goes on and on and on. And I think that is amazing. And again, the key corporate contacts as well as a little bit of a blurb on how to reach out to them. And that is our demo. That's our camera. What do you think, Mark?
- [29:22]
A
This is. This is super interesting. Like I said, I feel what, what was the sort of the vibe and the theme that we're getting over the next these two days? And I'll be really interested to see what Reuben comes in with tomorrow. Number one, like I mentioned, less is more with the number of units in the decor that you need. But also what I noticed there, that he. The average stay Ryan said yesterday, his average days is four to six months. And I can see here from these sort of types as well, the average day we're looking at between four to six months. So bigger bookings, longer bookings with less. And like I say, it's. It's proven to be very successful. Now, could you do me a massive favor? You know, on your slides, one of the very first slides that you touched upon was the different types of niches within the MTR strategy, the different types of guests. Do you remember which one I Mean, it was a, like a video, like a scrolling video.
- [30:13]
B
Yep, I'm pulling it up now.
- [30:14]
A
And that, to me, that is really fascinating as well, because I feel like the biggest misconception. And I asked Jeff Hurst this at Furnish Finder, the new CEO of Furnish Finder. I said, what's the biggest misconception with what Furnish Finder does? And he said the biggest misconception is that everybody feels and thinks that the MTR strategy is just traveling medical workers. And you have gone and shown in this in itself that there are so many niches within a niche. Like how many of that is there? Like 20. My eyes can't really count as fast.
- [30:45]
B
When you're so here, but I've identified about 56 so far and the list is growing.
- [30:51]
A
Wow. So 56 different niches. And look, festival attendees, those of you in the UK at the moment, you know that Glastonbury is about to roll around. Biggest festival in, obviously in the uk. You've got sports, like I can see here, medical travelers, obviously artists and writers, home renovations. And like I said, the, the sort of the niche that you're going down is like the, the, the, the, the home insurance one. The, the, the, the misplayments, the ones that have had these issues. And again, it's, it's, it's really interesting to me and I feel like hopefully for everybody that's tuning in, whether it's live and replay, is that those that think about this, they just go, oh, it's just going to be travel workers. I'm nowhere near a hospital. This isn't for me. So this is fascinating. And obviously your GPT, the custom GPT, like I said, you don't even know Brisbane that well. I don't know if you've ever been to Brisbane, but you've been able to use chat GPT, pull an address out and run a search for it. And it's been able to help. So it's, it really does. AI really does shortcut your learning on, on this.
- [31:50]
B
Absolutely, absolutely. And, and I, I wanted to show you the results. But we can walk through. That's okay with you, Mark? We can walk. Yeah. A process. So here in the US we typically use Zillow. Okay. And I don't know if there's any questions in the chat around a particular market, someone that's curious about a particular city, a particular state, or if someone has an actual address they want to try try it out.
- [32:15]
A
Well, how about this? I know that Mr. Robert Duncan is in the crowd and I know that he's in Sarasota, Florida. And I know that this is a question that we had recently with him is about medical tourism and he wants to definitely take advantage of the MTR strategy there. So let's go and have a look for, for Sarasota, Florida if you don't mind. It's one of these like upand cominging areas and I know that for, and this is why I'm interested in the same in the room because I feel like this could be, this could be a nice little talking point here. So if you don't mind running this on, on there, that would be fantastic. And again because the chat is broken, he won't be able to give us a, as an address. But if you just want to go and just find an address in Sarasota if you, if you like. But Robert, if you're watching this and if you're on WhatsApp or Facebook messenger, if you want to send me an address for Dr. Rachel to check out, we will have a little, we'll have a little look. Yeah, it's a shame that Crowdcast chat is down because normally it's, it's, it's really firing but oh well, it's all.
- [33:14]
B
Good and I'll find one on Zillow. So here's Sarasota, Florida and I'll just pick this first property here. It's a three bedroom, two bathroom house. I will tell you I like three bedrooms. I like four bedrooms even better. I like five bedrooms even better. So if I can squeeze a little bit more out of my budget to go a little bit bigger there, that's where, that's where we, we see the biggest opportunity. Not to say that a two bedroom or one bedroom won't work, but you get the biggest bang for your buck when you squeeze a little bit further. Okay, so I'm going to walk you through a little bit about ChatGPT. Just so you're aware, once you grab a hold of the custom GPT by sending me hello in an Instagram story and tagging both Mark and I, I'm at short that turned up gems. We'll send that custom GPT to you once you log in the models. There are a variety of models in here. I do Recommend using the O3 model that is the paid. You can access that through the paid version. You can use the 4O model for free. However, you will not get real time information with a4.0 model as of today. So the information could be a little bit dated. I'm just going to give you the heads Up.
- [34:35]
A
Yeah. And I've heard as well that by the end of this summer we will have GPT5, which is exciting. So.
- [34:40]
B
Oh, my goodness. I'm not interested. I'm not going to sleep.
- [34:44]
A
Interesting times ahead for sure. So this is cool. So this, this obviously big notes there. So make sure you're on the O3 model. If you, if you know anything about Chat GPT, you know exactly what we mean. If you're, if you're struggling again, just send an Instagram Message to Dr. Rachel Short term gems. I'll make sure that all goes in the chat and the links and, and you'll be able to quickly explain what that is. But yeah, I'm excited to see what we can do with this.
- [35:07]
B
Yeah. Yeah. And all you do is hit the let's get started. I kept it really, really simple. Let's get started. Sometimes it gets a little chatty and let's see what it does. Okay. So it's asking a lot of questions. Okay. So you can ignore all of that and just enter in the address, say it's a 3, 2, 3/2, and I'll say, let's go and see if it goes or if it wants a whole lot more. You know, with ChatGPT is generative AI, so no two responses are the exact identical, but once you see this little box here, it indicates that it's thinking. The O3 is a bit more of a thinking model, meaning it's doing a little bit more research. It's going on a variety of websites, trying to figure out exactly what it is and what it needs to do based on the prompt that is inside the custom GPT. So this is our USA version of the custom GPT. And then we have the global version that when I said, okay, search the world as a whole. And that is how we're able to find that information in Queensland and Brisbane. And, and it takes a hot minute look. You can see it searching the web. It's looking up military.
- [36:25]
A
Yeah, I love O3 because you can actually see what it's doing as well. You can see how it's thinking. And yeah, I, I, I, I love this model just because you can actually see exactly where it's, where it's going.
- [36:37]
B
And it gives you insight. Right. Like I was like, oh, the Florida Department of Transportation. Yeah, I should have thought about that. So it gets you thinking a little bit more about how even we should be searching for things. Right?
- [36:52]
A
Yeah, no, absolutely. And again, looking at the sources, because this is the one thing that I've definitely noticed with the plate. So the thing that's always come to my mind is where is it looking? Right. And obviously now that it gives you the citations of the sources and where it's going, that's big because you should be able to check that and go, okay, is this like a, a very good place to go or am I just looking at a Reddit forum, you know what I mean, where anybody can just type whatever they want.
- [37:16]
B
Exactly, exactly.
- [37:18]
A
I do, I do. Really do. Really like that.
- [37:21]
B
Yeah, yeah. And it takes a couple of minutes. I would say anywhere from one to three minutes.
- [37:28]
A
And one thing that I will say as well, that you went to Zillow. So obviously Zillow is more of a US based search. Ryan mentioned yesterday the more UK based ones, because that's obviously the ones that he knows, which is. Right. Move. But again, in Australia you've got your own versions and, and wherever around the world you've got your own version. So just, you know, Dr. H went to Zillow, but depending on the country that, that you're in, you'll be able to, to find one. Okay, so it's come back, fought for less than two minutes, which is nice.
- [37:52]
B
Not bad at all. Like, how long would it have taken you or someone to research on your team to look this up? Or va. How much would you have.
- [38:00]
A
Paid somebody to do this? Yeah, exactly.
- [38:02]
B
Yeah, for sure. And so the way it breaks down, it gives you a top line Snapchat. It provides you the address and a few thoughts around this particular market. So it's getting a little bit acclimated to the market. And then we dive into the guest avatar. Here we go. Storm safe families. Who they are households displaced by hurricanes. Ian, Debbie, Colleen, Milton. Two to five people plus pets, dual income, mid-40s. Okay. Dual income. That means they're living. Their living situation is. It's pretty decent. Waiting on rebuild and their insurance payouts, their booking channels. Zillow furnish finder highlight hurricane rated windows, Full house generator pet ready yard. Accept direct bill offer. So direct booking, right? Offer bi weekly deep cleans. Okay. Next are the orange vests. So these are. I asked the GPT to give me the top three avatars that I need to be aware of. This next one are the orange vest road Warriors. I don't, I have no idea what these words mean right here. However, if you're in this market, you may say, oh, Shanska. Yes, it's right up the road.
- [39:21]
A
That's the beauty of it.
- [39:23]
B
I'm like, wow, okay, never heard of this.
- [39:26]
A
That's Funny.
- [39:28]
B
So they're resurfacing job sites, trucks and trailers. Right there go. Site superintendents. They're booking on Airbnb, they're booking through corporate housing brokers. And so if this is an avatar you're interested in, it would be important to figure out what NECA is and CWS is so that you can start working on those packages and winning those particular deals. And then the third avatar are relocation executives. So high level executives coming to the area. Sarasota is a booming area and so they're training and bringing in talent, whether it's vice president, healthcare, vice president, hires and so on and so forth. They're house hunting, so they need a temporary place to stay, like a gap property. And they can potentially stay for three months, right. While they're looking for the right home and the right school district for their children. Design furniture, espresso machine, peloton. Right. Different avatar, but you get to see specifically who they are and who it is that you want to serve. And you can interrogate the GPT when we dive a little bit deeper. I want to know how many of these, each of these were coming to the area we were looking in New York, they had relocated, I think it was Citibank, it was a Group M MTB. They had relocated 76,000 employees over the last 24 months. And I was like, interesting. That is a company I want to get to know as well.
- [41:07]
A
That's a really interesting one. The one you've got next up here. The, the, the house hunt while kids finish the mess Finished semester in Sarasota. This is something that we noticed while speaking to, to Robert is that a lot of people will come down while their kids are going to college there and they will look for a place to stay for a couple of months. 100. That is definitely something. And there's a big water sports scene happening down there. So there's. This is all good. This is all like really good. And what I love as well, and I think this is like an undertapped usage case with, with chat GPT is, is that there is a voice button there. So obviously you're doing text to text at the moment. But like I said, you could start this off by doing this. And then what you can do is you could go for a walk, say you're walking the dog or you're going on the treadmill or wherever, going for a long walk outside. You can put in some AirPods in some headphones and just chat to this model who has already been trained on, on this and just Ask it questions, as many questions as you want. And it's like chatting to a consultant or an expert. And again, this is like for $20 a month.
- [42:09]
B
Yeah, absolutely. I use the voice model, I would say 80% of the time as well. So I couldn't agree with you more.
- [42:17]
A
Yeah, I know that Heather Bayer, who is a big, big person in the STR space. Fantastic person. She says to me that she goes for walks in the woods out where she lives in, in Canada and she'll just chat to chat to chat GPT and bounce ideas and back and forth. And I feel like that's it's such a good idea. It's like it's a mini therapist, so to speak.
- [42:37]
B
Absolutely. Same with me. When I'm cooking in the kitchen, it's usually when I'm cooking, the kitchen is when all the ideas come in. So then I'll put on my chat and I'll go back and forth. And then she said this and then I did this and what should I do? But, but is she really thinking this? But what if she says this what I say? And so it's really interesting and I see that Harvard Business Review published an article last month saying that the top three ways that Americans are using AI is for. That's interesting.
- [43:11]
A
That is interesting. That's really.
- [43:13]
B
Yeah, I dropped that in our AI group. Yeah, Harvard Business. So emotional support were the top. I was like, oh my gosh. And seasonality playbook, again, how do we want to position ourselves as hosts? We want to be proactive, not just reactive, especially with midterm rentals. Mark, one of the biggest misconceptions I see is when people get into midterm rentals and they're like, okay, I'm a midterm rental now, where are my bookings? You know, so there's got to be some planning. It doesn't turn on overnight. So how do we plan? How do we adjust ourselves? Is our calendar even protected to receive these guests? If you have two night bookings prepared all over your calendar, you're not going to get any midterm rental bookings because you're not even showing up in search. So. So that is one of the basics that AI won't be able to help you with. However, if you go and you haven't existed, Seasonality playbook and you have those conversations, where is the best points for me to leverage the two night bookings? How do I protect my calendar for the 30 day, 60 day, 120 day bookings? I think we're going to get even More personalized than ever before. That's, that's what I think the power of AI is. You can get a little bit more personalized specifically for your property. Say you're a three bedroom, room four, three bedroom, two baths. Say there's a five bedroom, four bath or one bedroom. Like how do we position this specific property for this specific situation? A one bedroom may be ideal for a travel nurse. However, when we're talking about construction crews, when they, they, they ride deep, they ride usually four to six of them at a time. Then the, the GPT is going to adjust right. Based on the, the property layout as well.
- [45:00]
A
Well, that's big. And that's one of the things that we're going to be doing with Reuben tomorrow. He's going to walk us through how you can have your cake and eat it with the short term rental model and the MTR model. How to set up your listings in a way where like you say you're not going to be able to cannibalize a really good MTR booking because your short term rental calendar has got a, a very tricky two night booking in the like four months down the line. So we're going to be going through that tomorrow, which is a nice little setup. What I've done is I've put into the chat the link to your Instagram and I've also put it in the WhatsApp and I'll send it out on an email later just so everybody's has it. So if you do have any further questions and if you want to get access to this GPT that Dr. Rachel and her team have created, which will save you so much time, go ahead and get in contact on, on Instagram. Please go and say thank you as well, seeing that the tricky chat here has been broken on, on Crowdcast. Now before we do wrap up, is there any other sort of thing that you would like to, to show us? Walk us through words of wisdom when it comes to the, the things that you've learned the last six years with the, with this MTR strategy and particularly with like the tools that you've been using recently.
- [46:11]
B
At the end of the day, relationships are key and, and that is why we created this section down here for us to start to make those relationships, start to make those contacts without being overly aggressive, just putting out your value proposition. So you even have an outreach playbook, an idea of your cadence. And so just because you don't have the availability right now for your property, say you're booked and you can't necessarily serve the Clientele right at this moment, having a network of other individuals that you can either share that deal with or communicate with puts you in a better position for future outreaches. So if they know Mark, whenever I reach out to Mark, he finds a solution for me while you become that go to person for that insurance company or for that temporary housing agency. So I lead with yes. I never say no, I have nothing. No, I have nothing. No. This year of 2025 and access to billions of people on the Internet, you have the boostly community, you have my community. I mean just reach out and say, hey, I've got a deal. Is there anyone who has any availability just to let that temporary housing agent know, hey, this is someone who's really helpful. Even if they don't have a property available, they're sending us alternatives. So we never want to close that door because it pays dividends. Maybe three months from now you may get a deal off of that particular situation. So I think at the end of day relationships, relationships with your network, relationships with the insurance companies. Personally, I've created WhatsApp channels inside of my community. It's str into our host of Fayetteville, Georgia. Right. And we're sharing leads in there. So be that connector so that if they have an opening, you're sharing it in there or if you have an opening, they're sharing it. And you know, I think that's another.
- [48:25]
A
That'S another very common theme with Ryan and, and yourself is that these adjusters, these people who are at, who help match up people to accommodation, they don't want to be dealing with 10 people. They don't want to be dealing with 10 invoices. They don't want to be Dealing with 10 companies. They don't want to be dealing with 10 different OTAs. They want to be dealing with one person. And you've just said it there fantastically be the connector. I've always said become the go to but being the connector is, is just, just as solid of a phraseology, is that you want to not say no, you want to be saying right. If Rachel was to call me today and say mark, you know, I need something, I need four or five months, you just go, yes, leave it with me and just go to town on your network. And again, I feel like it's, it's an overused cliche term, but your network is your net worth. And you know what I mean? It's, it's, it's so powerful to be able to have this and do this and like the boostly community is there Dr. H. Your community is there. There's so many Facebook groups that you can just tap into, just go and join and be part of and you know, you'll find your circle, you'll find your group, your crew and you'll just sort of narrow it down and you know, it's, it's, it's fascinating that you and Ryan have mentioned that. And you know, without me prompting Reuben tomorrow, I'll be interesting to see if he goes down that I know he's going to go down that. I've heard Reuben talk about this a lot and he's probably one of the really good examples. You, you two both have these really good examples of this. So yeah, fascinating. Is there anything else that the GPT, I mean you keep scrolling, you keep dropping more. I was like, when does this stop? It keeps on going.
- [49:54]
B
Just this one here. Minor league baseball, spring training, like seriously, I didn't know that. Right. So you just never know what's going on in your particular market. Some things you may be aware of, but it surprises me every time I.
- [50:08]
A
Say that's another thing that Robert mentioned and I forgot about this is that the major League baseball teams because of, because of client, because of the climates obviously in the north like say New York or Washington state or insert Northern state, they want warm weather training camps for their season pre. And what they are doing is they come to Sarasota, Florida, there's amazing facilities there and again you can tap into that. So again this is, it goes back to that slide that you showed. Yeah, 50, 56 different niches and it's, and it's growing and counting that will probably top 60 before you even know it. So don't just rule out, we say mtr but obviously like wherever you're based around the world. In the UK we call it serviced accommodation. The in Australia you call it somewhere else. In South Africa you call it something else as well. But it really is. This is why there is 1 in every 5 bookings on Airbnb are for over 30 days. This is like a growing trend. It's massive. And obviously you know, this is the data you can't ignore. And the beauty of the MTR strategy is that when the short term rental world is going crazy over regulations, you know, everywhere in the world we seem to be every single week you hear about over tourism, especially in Europe at the moment, the MTR strategy will just be left out alone because the hotel who are funding all of this like regulations and legislation, they don't care about the NCR model. It's not their bag. So again, this is why it's beautiful to be in. Really, really thank you for that. Dr. H. Can you just put up your Instagram again one more time?
- [51:40]
B
Absolutely.
- [51:42]
A
Just so people can, can get in contact with you and obviously get hold of that, that GPT and you know, if people want to, want to reach out. Is it if I can send you a dm? If anybody wants to find out more about working with you, send you a dm. Is there any websites you'd like go to?
- [51:55]
B
Yeah, you can go to 75 gems.com that's the number. 75 g s.com and you'll see some of the 75 markets we're looking at for STR and MTR on 75 gems.com and so we'll be able to connect that way as well.
- [52:13]
A
Class. Amazing. Thank you very, very much. This is lovely. I really do appreciate it. And again, I really wish that Crowdcast would have started their chat because I know there's so many people who are in the WhatsApp are sending me messages saying this is great and I guarantee there'll be more questions coming up. If you are watching this back on the replay again, please make sure you go to Instagram and just say thank you to Rachel. We'll be back tomorrow at the same time with Mr. Reuben Kanya. And like I said, he's going to show you how you can have your cake and eat it with the STI model and the MTR model. But this has been day two. Really, really. Thank you, Rachel, for coming in today and thank you for everybody who has tuned in. Take care, all. We'll see you tomorrow.