[00:00:05] Speaker A: Welcome to the short term show. The show about short term rentals and long term wealth with real property owners hosting real properties who are crushing it in the vacation and short term rental space.
And here's your host, Avery Carle.
[00:00:29] Speaker B: Hey, y'.
[00:00:29] Speaker C: All.
[00:00:29] Speaker B: Welcome back to another episode of the short term show. And this is my first episode with. I've updated some of my, like, lighting and setup and things and it doesn't look the way I want it to. So if you're watching it on YouTube, just know that I'm aware. Okay. I don't need any comments.
Really excited to have a great guest on. She's been on a few Times. Got Stacy St. John. How's it going, Stacy?
[00:00:52] Speaker C: I am awesome. How are you?
[00:00:55] Speaker B: Never better. Live in the dream.
[00:00:57] Speaker C: Living the dream in the dark.
[00:01:00] Speaker B: Yep, yep. Just trucking right along back from the holidays. My kids aren't quite in school yet. My daughter is in the front room of my office right now being a perfect angel while we work for this. So she's. She's learning the ropes a little bit today. Came to work with mom.
[00:01:18] Speaker C: Love it. Do you bribe her? Stay quiet?
[00:01:21] Speaker B: No, she's pretty good. She. Yeah, she's hanging out, watching. I think she's watching Croods on her I iPad. And we ordered some sushi and some miso and having a good, good girls day at the office.
[00:01:33] Speaker C: I love it. That's so fun. Y so good.
[00:01:37] Speaker B: Yeah. Okay, tell me what you've been up to.
[00:01:40] Speaker C: Well, I tell you what.
Never a dull moment in the world of short term rentals, right? So I have a portfolio of properties in the Myrtle beach market. That's where the majority of my portfolio is owned and managed. And then I also do hosting in the Hocking Hills market in Ohio and then do some co hosting for, you know, folks all around the country. But my heart is in Myrtle beach, shall we say? That's what I absolutely love, having to go visit my properties at the beach regularly. It's a tough job, but somebody's got to do it.
[00:02:19] Speaker B: Isn't it such a tough job to go check on vacation properties and fun areas?
[00:02:24] Speaker C: Exactly, exactly.
[00:02:26] Speaker B: You know, I would love a little update. I think it's been maybe a year or two since you've been on. I'd love a little update on what you're seeing in Myrtle beach and I'd like to hear because it's very similar to the markets that I own stuff in. And what we saw was a big Covid bump, a Covid drop. But the last, I would say 2023, 4 and 5 were pretty steady and predictable and still they were significantly higher than our income pre Covid. So it didn't drop all the way back. As a matter of fact, it dropped maybe like 10% but was is still up maybe 40% from pre Covid. But the last two or three years has been very steady and predictable, which I feel like is nice. Is that what you've seen in, in Myrtle Beach?
[00:03:11] Speaker C: It's been a little different in Myrtle Beach. So if, if you recall, I actually started buying in Myrtle beach during COVID and so I can't really speak to pre Covid numbers, but definitely experience the COVID bump. Those were the days that, you know, all of us long to go back to in the world of of short term rentals but have in the last two years definitely seen some shifts down in the market. So I think the biggest driver of the shifts are folks are traveling different these days. You know, it used to be four years ago we would see folks starting to really, really plan summer vacations as early as New Year's Day. Like that was the thing. We would get a ton of bookings New Year's Day for summer vacations, we're not seeing that anymore, you know, where we're seeing a huge amount of, you know, bookings that are coming in very late in the game. Now our goal is to always get bookings in as early as possible because those are the most profitable bookings for us. But at the end of the day, you know, something like 14% of bookings are coming in within seven days. I mean it is quite a shift definitely. And as you well know, with more last minute bookings, you're often seeing a lot of degradation in price. So you know, folks are really competing on price that those last few days just to inch inch in any bookings possible.
[00:04:50] Speaker B: Would you say you're still happy with your Myrtle beach places though?
[00:04:53] Speaker C: Oh yeah. Oh yeah, absolutely. Absolutely.
[00:04:59] Speaker B: This episode of the Short Term show is brought to you by the Short Term Shop. If you're interested in buying a short term rental in one of the top vacation markets in America, just go to the Shorttermshop.com and click Get Connected with an Agent. If you purchase a home with the shop, you'll have access to all of our client only benefits such as training on how to manage your short term rental. So we'll teach you everything you need to know from how to set up your Airbnb and VRBO listings to how to use the property management software that you'll need to streamline Your business all the way down to helping you source your local boots on the ground like cleaners, handy people, etc. We've taught thousands of people just like you how to buy and manage their vacation homes from anywhere in the world. So head on over to the ShortTermshop.com and click get connected with an agent to get started. I do have to mention that we're brokered by exp or else I get in trouble. We'll see you guys over there.
[00:05:49] Speaker C: You know, when I first started buying in Myrtle beach, you know, the prices were quite different. So you know, easily you could buy on the ocean a small condo for under 100k, like it was super cheap. Now those prices are gone by the wayside.
And of course for the larger properties, you're, you know, going to be in a different budget tier. But I will say by and large it is one of the most affordable beach properties out there, or beach markets rather out there. And so would definitely, you know, encourage folks, if you're looking to have a property at the beach, look into the Myrtle beach market because you can get some really great properties at affordable prices. What are you, I was going to say from, from your team. Are you seeing the same thing in the Myrtle beach market in terms of prices? Yeah.
[00:06:51] Speaker B: Yes. So prices, I mean prices everywhere are higher than they were during. Well at the beginning of COVID bumped them up. I would say in terms of actual sale prices and days on market, we're seeing much, much higher days on market in our types of markets than we're seeing like across the country. So if you go look on like realtor.com data or Inman data or the association of Realtors data are the days on market and the inventory are much higher in vacation markets than what you're going to see. That across the board data being because we don't have primary home buyers and sellers driving our market, so we don't have people going, oh, I had another baby, we got to get a bigger house or I got another job, we got to get a bigger house or a different house.
Everything in the markets that we work in, including Myrtle beach, is purely a discretionary purchase. Like somebody wants a second home, somebody wants an investment property. So those markets, types of markets, vacation markets, are inherently slower on, on the sales side than other types of markets. So what we're seeing is we're seeing lower price, things aren't listing for lower because every time I post like a market update, I on social media, I have people yelling at me that it's still inflated. Don't offer asking price, then offer low. The market slow. Like read the room, know something about the market that you're offering in.
[00:08:16] Speaker C: Why?
[00:08:16] Speaker B: Why we offer an asking price in this market, Right. So all that to say we're seeing prices are typically very sticky. So to me, the market ground to a halt two years ago. And we're just now seeing prices start to come down. They're not getting listed lower, but they're starting to accept lower offers because things are sitting on the market longer. So we're starting to see those come down a little bit now. Do I think anything anywhere is going back to pre Covid prices in any type of market? No, it's just not reality. We've had inflation, we've had all kinds of things, but we are seeing sellers starting slowly to accept lower prices, not listing lower. Remember that people who are listening things are not listing lower. So don't just go swiping left on all these properties because you don't like the listing price. Don't offer the listing price. Offer the price that works for you.
[00:09:03] Speaker C: I think that that is such great advice and something that I learned early on buying real estate is, you know, anybody can list for anything they want and you just never know what they will accept. And so the longer the property sits on the market, the more potential you have to have a seller that is willing to negotiate. So one of my favorite strategies is to look for properties that have the longest days on market, then look for them to do a price reduction and you go offer well below what they've reduced the price to.
[00:09:46] Speaker B: Right.
[00:09:47] Speaker C: Because that reduction indicates, hey, they're, they're really looking to make a move here.
And so that strategy doesn't always work, but it has proven to be very helpful to get great deals.
[00:10:01] Speaker B: Totally. And something else that I'll add just because it's fresh on my mind because I made an offer on a property last week is that no amount of, of logic or reason that you give a listing agent or a seller and listing agents know, but they have to do what their seller wants to do. But no amount of logic is going to get a seller to lower their price that is not ready to lower their price. Only time can do that. So I had a situation last week where I was offering on a million dollar property and I own a one bedroom smaller property in the same community. So I know exactly what it's going to make. But the rental history on this million dollar property, ready for this? This is like the kind of thing people on social media want to yell about the rental history on this property is $23,000. It's a five bedroom, six single family.
Yeah, so it's terrible. And then so they added rental projections like, hey, this thing could do better. And those were 75, 000. And I'm like, well okay, anybody who's not an expert is not going to buy this. Like the, the general public who's looking on Zillow is going to go, oh, that doesn't make sense. The hopefully listeners of this show who know how to analyze and will look at comps and price labs, market dashboards and all that would know better, but the vast majority of people don't.
So I made a low offer. I made a cash offer. It was low. And I let her know that it was low. I said, hey, this is an investment property. It's low, but the market is slow. This property's been on the market for 60 days. The exact same property has been on the market two streets over for a year for the same price. Which I like this one better because I like the driveway a little bit better. But so I started with this one. But anyway, they would not even counter me. I offered 850 cash.
I'm like, I don't care what the rental history is. We can have like a three day inspection period.
I don't care. I know what this will do. Wouldn't even counter. And so I'm like, hey guys, listen, here's the deal.
This house at the current rental history loses a ton of money. For somebody who has a mortgage, somebody's getting a mortgage. The rental projections lose a moderate amount of money.
So you either need a second home buyer who's paying cash, which at this price point they can go get something that has a few more amenities and maybe a private pool, not a, not a community pool.
So they, you know, that's probably not attractive to them or you need a cash investor who doesn't care what the rental history is.
[00:12:38] Speaker C: That's me.
[00:12:39] Speaker B: That's me, guys. And they wouldn't even counter. I've been stewing on it all week. And anyway, I'll probably offer again, but I'm like, just counter me. I'm not going to because I'm not going to bid against myself. And just.
But that drives me nuts when agents will not get their seller to counter because I will come up at least $100,000.
And I thought twice, I said counter me and I would be happy to come up. No response.
[00:13:05] Speaker C: Well, that just indicates a really poor agent number one.
Yeah, I don't Know who the agent is, but shame on you.
[00:13:13] Speaker B: Nobody that anybody knows.
[00:13:14] Speaker C: Okay, good. And then second, my next question is, is what is your plan when that doesn't sell? So as an example, like would you say I'm just gonna wait X amount of weeks or months and, and submit another offer? Would you wait for that listing to expire and go direct to the seller? Like, how will you navigate that?
[00:13:39] Speaker B: So for me, I'm probably going to let it sit another week or two and then I might come up a little bit. But I guarantee she did not tell her seller, hey, this buyer said she'd be happy to come up if we. I'm not even negotiating. I'm like, yeah, counter me, I'll come up.
[00:13:57] Speaker C: Right.
[00:13:58] Speaker B: And I guarantee she didn't tell her seller that I would come up. And I come to find out I dug around a little bit and her husband owns the rental company, so they're not really incentivized to sell it, which that guys, if you're going to list a property and you're listing it with the agent at the rental company that you're using, that's a little bit of a conflict of interest because they benefit from keeping it anyway. Not all the time. There's plenty of honest, you know, ethical agents that work for rental companies, but it does present the opportunity anyway.
Well, couple lessons there on your listing agents. Make sure that they're actually telling you everything that the buyer is saying because you never know how far somebody's going to come up. Always, always, always counter. If you're a seller, always counter, don't.
[00:14:45] Speaker C: Yeah, absolutely. And then you know where I would go to. Now I'm a licensed real estate agent, but I don't practice traditional real estate, meaning I have my real estate license to just support my investing, shall I say. And so, you know, one of the things I would do is I would look at, you know, how long that's been on the market, I would look at how long it will probably be before that expires and I would just get my tools ready in my toolbox for when that listing expires. I would skip trace the owner and.
[00:15:20] Speaker B: Have already know exactly who they are.
[00:15:22] Speaker C: Okay, good. I would be reaching out to that owner the minute that falls off the market and work directly with them.
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[00:16:53] Speaker B: On the other side of a deal to try and figure out what their motivations are and you know, what might work for them. So like, oh, did somebody pass away?
What can I do to make this super easy for them so they choose my offer instead of somebody else? You know what, whatever the case may.
[00:17:07] Speaker C: Be, I think that that's such an important point that, you know, I have had to coach my own real estate agents sometimes on like, find out the scoop. Why are they selling this property? What's the deal? What, what are their key drivers for wanting to get rid of this property? So get the inside scoop and you can make an offer that's a win win. Oftentimes price is like one piece of the equation, right? One small piece. And so when we know what's driving the behavior behind the sale and we can make stronger offers. Would you agree? I would say that probably works more for traditional real estate buying versus vacation rentals. But what are your thoughts?
[00:17:51] Speaker B: It's worth asking, but any good listing agent is going to say, oh, they're just trading up or they're buying something bigger, they're moving money around to another market.
You know, a good one isn't going to say like, oh yes, they're in dire straits financially and need to sell immediately. But it never hurts to ask because you never know, you might get a talker who's. Who will say, so it never hurts to ask. But don't expect to hear anything.
[00:18:15] Speaker C: Yeah, yeah, yeah, absolutely.
That's so fun.
Okay, I have to ask you this.
I need to know about the hand behind you.
[00:18:26] Speaker B: Oh, that is, that's thing.
That's thing from the Addams Family.
[00:18:30] Speaker C: I mean, I do see that but like, is there a, speaking of stories, is there a story behind this hand?
[00:18:37] Speaker B: No, it was just Halloween decor that I decided to keep. Because I like it there. You can't see it. It's off camera. I've got a big black skeleton over here. I've got Ace Freely's. I got. That's a custom Ace Freely mask right there.
[00:18:50] Speaker C: I love it.
[00:18:51] Speaker B: I just, I just like that.
[00:18:54] Speaker C: Fun things.
[00:18:57] Speaker B: Yeah. All right, so what it we're in the beginning of 2026 now, which I feel like is a little bit of a turning point. We're well past the COVID bump. We're well past the COVID drop.
What are your goals for your in for your current portfolio this year and. Or are you planning to grow it?
[00:19:16] Speaker C: Yeah, yes and yes.
So I am. I have actually aggressive growth goals this year from a property acquisition for my own portfolio. Also to grow my property management portfolio. So I do full service property management in the Myrtle beach market.
And I'm really looking to be more strategic about the properties that I do acquire within my management portfolio. Back in the day when I first started again, I started by buying very small properties.
And just by nature, those were a lot of the properties I started managing early on were very small properties. Well, you and I both know it takes the same amount of effort to manage a five bedroom house as it does a one bedroom little condo.
And so from a management portfolio perspective, definitely looking to continue to grow with larger properties because we can get economies of scale drive efficiencies in our business that way.
So yeah, so goals about my own acquisitions would definitely love to, I would say, balance out a very seasonal market. So Myrtle beach is hot and heavy for, you know, spring and summer.
I would be looking to potentially look into a new market altogether. Oh, like that could offset that seasonality, right?
[00:20:48] Speaker B: So like a winter heavy market.
[00:20:51] Speaker C: Yes, yes.
I can't say that I will do that.
I, I feel like I need to do my research first. I would love to say that I'm a winter ski fan, but I'm really not. So I can't really envision me going to like a snow market, but something like South Florida 6 or South Florida or something like that I could get my, my arms around.
[00:21:19] Speaker B: Okay, that's cool. I like that. So. Or you might just buy another one. I know how this works. You might just buy more in Myrtle beach because that's easy and it's easy to add to.
[00:21:30] Speaker C: So we were just down there last week and my, my husband, you know, of course he loves this as much as I do and he's like, well, you know, let's take a look and see what's what's on the market right now. And I'm all about the numbers. And so there's a lot on the market and a lot that don't meet my financial goals. So it's like, okay, I'm just gonna, you know, sit, sit and wait until I can find something that really meets what I think is a good investment.
And that being said, you know, when we first started buying at the beach, and I'm curious if you're, you know, like this too.
You have this initial. Oh, my gosh, this is so fun. I'm gonna. I'm gonna have this massive portfolio of properties that I own. Well, once you own a few beach properties, it's like, why do I need more? You know, I can go visit the beach anytime I want. I can go enjoy my properties. Let's look at a potential other market that we might enjoy visiting.
[00:22:32] Speaker B: Well, totally agree with that. And now I live at the beach, so it's like, I know, girl.
[00:22:39] Speaker C: I'm jealous.
It's.
[00:22:41] Speaker B: It's nice. I will say there's some things about it now that the kids are getting older that I'm like, city would be nice, but it is really awesome to live.
[00:22:50] Speaker C: Yeah. Do your kids love it, too?
[00:22:53] Speaker B: Oh, yes, they do.
I don't think they know how lucky they are to get to live at one of the most beautiful beaches, but.
[00:23:00] Speaker C: Right.
[00:23:01] Speaker B: They do love going and. And women and hanging out.
[00:23:05] Speaker C: Yeah, yeah.
[00:23:06] Speaker B: Digging crabs and stuff.
[00:23:08] Speaker C: You know, the other thing that's just. I don't know why it's on my mind to say this, but speaking of the Myrtle beach market, there is a lot. This doesn't necessarily play into folks who are buying vacation rentals, but there's a lot of people moving to Myrtle Beach.
[00:23:24] Speaker B: I've heard that.
[00:23:25] Speaker C: Yes. And a lot of houses being torn down and McMansions being built, and it's quite interesting to see those shifts. So, you know, again, five years ago, you could drive up and down the ocean front and find houses that were built in the 50s, 60s, 70s, that were still well kept, of course, but now people are buying those properties up, tearing them down, and building brand new homes that are still stunning, but it is driving price points up along the ocean front for single homes. So quite interesting as well.
[00:24:08] Speaker B: Yeah, that is. That is interesting.
All right, so let's. I want to ask you about your management. So you have your own portfolio that you're managing. You manage a portfolio of other people's rentals. What have you seen in terms of. You mentioned this for Myrtle beach specifically. Specifically, you're getting a lot of last minute bookings. But what has been your revenue management and pricing strategy the last couple years?
[00:24:33] Speaker C: Yeah, well, it's interesting. I've, I found that, number one, I want to get to guest favorite as quickly as possible on Airbnb because our properties in our portfolio that are guest favorite are earning 25 to 30% more than those that are not guest favorite. So from an overall strategy, that is an important piece of the, the puzzle when it comes to Airbnb specifically.
I also have discovered that people will pay for views.
And so it's not that I won't take on properties that are not oceanfront, but I am very careful about what I take on that's not on the ocean.
Because your occupancy rates, at least in the Myrtle beach market, are going to be very similar.
You know, on the ocean front versus on a golf course or a couple blocks back.
Your occupancy rate is going to be similar, but your, your daily rates are going to be drastically different.
And so from a management perspective, again, if I look at, you know, what's going to move the needle the most, the properties with views of, of the ocean will move the needles the most.
So people pay for views.
The other thing too is that we are really looking to drive bookings as early as possible.
And I mentioned that early on in this episode. But, you know, when I first started managing, I didn't really understand the impact of lead time. You know, I would look at booking lead time and go, oh, well, that was interesting. You know, but when I started really analyzing the data, what I recognized was the bookings that came in, you know, more than 90 days in advance were earning 22 to 27% more than the shorter lead time bookings. And so from a revenue management strategy we're looking at employing, okay, what are some early, how can we inflate our rates a bit and then offer some early discounts to merchandise, you know, the opportunity for folks to book early and get a deal.
But on the back end, again, from a revenue management perspective, there's, there's some tweaks we can make so that we're not cutting into profits, of course, and we're, we're able to secure those early bookings. So that, that's really a key driver for me is securing bookings as early as possible.
[00:27:07] Speaker B: Yeah, and it really is kind of a, an algorithmic game because the more you get booked, the more it bumps you up if you're available when the next people are looking. So it really A lot of times people get so hung up on the this is my break even number and I can't go below it. But your break even number doesn't affect the algorithm, that's just in your mind. So if you want to. And also your break even number is just an average. You're going to get booked higher than that. You're also going to have some days off seasons, shoulder season where you get booked lower. So sometimes it takes a couple of below your break even number bookings to get you bumped up to where you need to get. Then you can raise those things back up. But it really is such a, you have to manage your systems. Price Labs is amazing, it's wonderful, but you have to manage it. And yeah, I would say I would. I've had a handful of like mad clients come to me in the past few years and say I'm not making the money that I thought I was going to make. And like they're angry and I said well what? Show me your Price Labs. And they're like what do you mean? I just, I. Or I'll say show me your, what you're doing for pricing. And they'll say I don't price it, Price Labs does. And I'm like, well when was the last time you looked at your price labs? You still have to manage it. You can't just turn it on and walk away.
[00:28:27] Speaker C: Amen, girlfriend. I always say this Price Labs is like a car, okay? Like it has all these mechanics that are amazing and can make you go fast, but you still have to drive the frickin car.
[00:28:40] Speaker B: Right?
[00:28:40] Speaker C: Okay.
Not a self driving Wavo or whatever they call it out in San Francisco. Right.
It is something that still needs to be driven. And so I think that that's a huge misunderstanding actually industry wide. While I have, I have Price Labs, I have a dynamic pricing tool. It does all the work for me, you know, takes a ton of time off of your plate. But you still have to proactively go in and be strategic about what you're, what you're doing in there.
[00:29:11] Speaker B: Totally guys. So make sure your listing agent is telling you everything that a potential buyer is saying.
Manage your price labs.
And I feel like there was one other nugget but it's, it's escaped you.
[00:29:26] Speaker C: Yeah. The other thing too, I was just gonna say that's really interesting is I was just looking at a comp set in one of the resorts I manage in and I would say about 80% of the comps within that one building have a one night minimum.
I do not do that at all. I'm curious what you do in your properties. I have a minimum two night stay for the shorter, you know, like shoulder season or down season, but bump that up to longer stays obviously during peak. But that, that's also an interesting discovery. I'm curious how what you're seeing.
[00:30:07] Speaker B: We don't do that unless we're specifically trying to bump something.
Like as a rule we don't. We do two, a lot of people do three. But I think that's counterproductive because then you knock any weekend booking potential off the off the table especially. I mean it doesn't matter a lot in high season, but in low season, especially here, it's very much the old school industry standard to have a five or a seven night minimum stay. Like that's what all of the big property management companies down here do.
And I think that's just counterproductive. But in the off season and in smaller properties, I wouldn't do it probably with a bigger one, but only if in very specific circumstances of trying to bump algorithms.
[00:30:56] Speaker C: Yeah, love it.
[00:31:00] Speaker B: Oh, I remember the, the other nugget. And it's always counter when you're the seller. Always counter.
You never know what somebody is willing to come up to.
[00:31:12] Speaker C: Right.
I agree.
[00:31:14] Speaker B: Yep.
Okay, let's talk about. Now that we've talked about a few things that people need to know and pay attention to, there is an event that they can attend and learn lots of these little nuggets shortly. Why don't you tell us about that?
[00:31:29] Speaker C: Yes, it is called the Short term rental Virtual Summit for women.
Go figure. It's for women.
So if you are a woman and you are interested in short term rentals, whether you're currently, you know, hosting a portfolio or looking to get started, just go to strvirtualsummit.com It's February 4th, 5th and 6th. Three days worth of education for 47 bucks.
[00:31:56] Speaker B: Wow, that's really good. Is it recorded? So if you can't. It is.
[00:32:00] Speaker C: Oh, it is. So folks can spend an extra $50. So for less than 100 bucks they can get three days worth of education in all different aspects of our industry and have a great deal.
[00:32:15] Speaker B: Yeah, you're losing money if you don't buy that.
[00:32:19] Speaker C: Amen, girlfriend.
[00:32:21] Speaker B: Awesome. Awesome.
Anything. So you said where to go to get tickets, said the. The date. Anything else we need to know about it? Um, excuse me, Anything else we need to know about it before we ask you the final three questions of the show?
[00:32:35] Speaker C: Oh, not really. I was going to say you know, it is a packed three days and I would encourage anyone who's even remotely interested in some of the sessions. If you go to strvirtualsummit.com, you can also look at all the sessions. Even if you can only carve out time for a few of them to watch them live and watch the recordings later on, that's totally fine.
But it is a tremendous event that we have each and every year and women step out of it going, wow, I learned so much new that I can implement right now. So I love that.
[00:33:12] Speaker B: Awesome. And I have been four or five times now, so I always learned something. And you guys should definitely check it out.
And Stacy, we are now to the last three questions of the show. You've been asked them before, but we're going to ask them to you again. Okay. What advice would you give 20 year old Stacy if you knew then what you know now?
[00:33:30] Speaker C: Oh, with regard to anything or with real estate investing?
[00:33:37] Speaker B: I would say anything. Life.
[00:33:39] Speaker C: Oh gosh.
Well, 20 year old Stacy actually was very ignorant when it came to money and so I would tell my 20 year old self to get my head out of my butt.
[00:33:53] Speaker B: I think we, we all probably could have stood and been told that at that time.
[00:33:57] Speaker C: There you go, there you go. And, and really recognize the power of investing, whether you're investing in real estate or something else. You know, I would get paid my paycheck at the age of 20 and I would spend every last penny and blow it. Right.
And now, not that I don't enjoy things and, and, and buy things when I, when I feel like it's, it's right to do so, but I'm looking at growing my, my dollars in my bank account more than spending them.
[00:34:32] Speaker B: Yeah, I agree with that too.
All right, number two, what advice would you give a new real estate investor who's looking to get started today?
[00:34:41] Speaker C: Hmm.
I think the one piece of advice I would give is to surround yourself with people who have been where you want to go, whether that's your real estate agent, whether that is your financial advisor, whether it is, you know, someone who's maybe gonna coast, co host or property manage for you. But if you're just getting started, there is so much to learn, which is awesome.
But you don't have to do it alone. And so get people in your corner, plug into their knowledge, I call it knowledge hacking. You know, hack into their experiences, their expertise and don't try to figure out everything on your own.
[00:35:31] Speaker B: Really great advice. And last question, what's your favorite book that's impacted your mindset?
[00:35:37] Speaker C: Oh, well, my favorite book that's impacted my mindset is called Inner Size, and this was a book that I read years ago, and it teaches you how to train your brain for success. It teaches you how the inner workings of your conscious and your subconscious mind work. The author is John Asroff. And when I read that book, my life changed because I really actually started working on my mindset each and every day, and things are very different for me now. So awesome.
[00:36:17] Speaker B: Love that.
Well, Stacy, thank you so much for coming on. Really looking forward to your virtual summit. Y' all should really check it out, guys, girls who are listening. And, Stacy, if people want to just follow you on social media, how can they do that?
[00:36:32] Speaker C: Yeah, the best place actually to find me online is my website, which is Stacy St. John.com.
you can also find me on Facebook and Instagram.
[00:36:42] Speaker B: All right, well, thank you so much for coming on, Stacy, and listeners. We'll catch you next week.
