0:03
you’re renting,
0:05
you don’t want to go overboard and value
0:07
it like a hotel, including all the audio
0:09
equipment and speakers and having a
0:12
union guy there. That’s that’s in
0:14
Chicago. You actually have to have a
0:15
union guy there to plug things in. They
0:17
don’t understand why nobody wants to use
0:18
their hotels, but
0:19
uh you know, you don’t include all that
0:21
stuff. But you don’t go to the other
0:22
extreme either of just using an Airbnb
0:24
rate. Yeah,
0:24
you want to have a good comparable,
0:25
which takes some time to come up with.
0:27
Uh, wedding venues, regular type venues,
0:31
aggressive, but not stupidly aggressive,
0:33
but it adds up. You do the homework once
0:36
and you set the template and the
0:37
pattern.
0:38
Let’s say you get 2,000 bucks, which I
0:42
think depending on the nature of the the
0:43
home and the property we’re dealing with
0:45
might be low. It just depends. Let’s say
0:46
you get 2,000 bucks 14 times a year,
0:49
that’s 28 grand. Let’s say with state
0:51
and local taxes, somebody’s in a 40%
0:53
bracket, which might be a bit modest
0:54
because I’m not even including social
0:55
security or necessarily state taxes, but
0:58
let’s say they’re in a 40% bracket. So,
1:01
let’s see. 28 grand times point4, what’s
1:03
that going to be? Over 10 grand per
1:05
year.
1:05
Yeah, absolutely.
1:06
I mean, it pays for dinner.
1:07
Yeah.
1:07
And the nice thing is once you’ve done
1:09
it once.
1:10
Yeah. That’s the trick.
1:11
It’s very repeatable.
1:12
Yep. The the hardest part is is actually
1:14
figuring it out. Having the confidence
1:16
in it for most people is the is a
1:17
hurdle. But then once you have that the
1:20
first event like thinking through oh
1:22
what qualifies making sure you know I’m
1:24
a little nervous about this because I’ve
1:26
never done it before and then actually
1:27
doing it scheduling another event that’s
1:29
definitely the hardest part.