Table of Contents - Tyler Hassman: 86 Units Before The Age Of 21
Dave Debeau [00:00:07] And everyone, this is Dave Debeau with another episode of the Property Profits Real Estate podcast. And today, it is my pleasure to be interviewing a true young gun in real estate investing. And that's Mr. Tyler Hassman. Tyler, how are you doing today?
Tyler Hassman [00:00:23] I am doing great today. Dave, how are you doing?
Dave Debeau [00:00:26] I'm fantastic storyteller. You're originally from Beautiful Regina, Saskatchewan. You are not there today. Tell us we're in the end of February. Let's make us all jealous. Where are you right now?
Tyler Hassman [00:00:37] But I am in Scottsdale, Arizona right now, enjoying the beautiful desert heat. No cold weather. So, I mean, I can't complain right now.
Dave Debeau [00:00:47] Exactly. I just got off the plane from Hawaii, so I will complain because it's dead. So if you haven't had the pleasure of meeting Tyler, listen to him speak yet, Tyler. Very, very inspirational real estate entrepreneur. He started at the ripe old age of 18 years old just over three years ago. He is twenty two years old right now. He's done multifamily apartment building deals. He's now focusing on vacation rentals, Airbnb type deals, I'm guessing primarily in and around Scottsdale. That be correct?
Tyler Hassman [00:01:19] Yes, correct.
Dave Debeau [00:01:20] Excellent. Excellent. All right. So finally, let's get to start with some questions here. So it wasn't that long ago, but what was it that got you inspired and motivated to get into real estate investing in the first place?
Tyler Hassman [00:01:32] Yeah, what first got me started, to be honest, Dave, it's funny because a lot of people have, like, you know, they want to create long term wealth and residual income and all that kind of stuff. But for me, I just wanted to become rich. So I was one of those young guys that I like. I want to make money. And I kept doing research on successful people and Googling stuff. And what popped up was always real estate. This person does real estate. This person owns a bunch of real estate. Look at Trump like how much real estate is all this stuff on real estate? And I literally made the decision. It was when I was 17, I bought my first property at eighteen. When I was 17, I said, I'm going to do real estate because it's the real thing. There's always the oh, get rich quick thing or do this and that. I'm like now real estate like the real thing. So I actually just Google search ways to get rich. Real estate one of them. So to be honest, that was it.
Dave Debeau [00:02:23] That in itself is pretty inspiring because most guys your age or your age at that time are thinking about hard cop cars and hot girls, and that's about it. You probably think about that a fair bit yourself.
Tyler Hassman [00:02:35] Yes, I find a balance between that and real estate.
Dave Debeau [00:02:37] Then I. Well, you're able to afford it now, so there you go. Yes, but I believe you started right off the get go. Correct me if I'm wrong. I think you started right off the get go with multifamily apartment buildings. Is that correct?
Tyler Hassman [00:02:49] Yeah. So it's kind of funny because my first deal was a one point five million apartment building and I had to raise just over four hundred thousand for it. And I mean, was 18. I was living in my parents house in their basement, not even living on my own and about an apartment building. So, yeah. So I mean, I started out getting that apartment building, one point five million dollars, a 12 unit apartment building, and it was four hundred thousand dollars and invest the money to close on that thing. So it was a big first deal. But I mean, we got it done. And I mean, at the time I lived in my parents basement. So it was kind of funny owning our building while still living at home.
Dave Debeau [00:03:27] So fast forward three years. What kind of strategy or strategies are you focusing on right now?
Tyler Hassman [00:03:33] So now I'm focusing on a luxury vacation rentals and putting them on Airbnb. So it's funny because a lot of people are like, why are you doing this? Let's just stick with the multifamily. And I mean, I. I recently in September discovered about the Airbnb system, about taking up vacation rentals with little to no money and just throwing them on Airbnb and making some quick profits. So I said, you know what? What does it hurt to try? I mean, I wanted to get out of the cold weather. I literally drove down to Phenix and then started picking up some Airbnb units. And then I started seeing the cash flow in the money that I was making on them. And I was like, I'm not going back. So that's why I'm still here to this day. Picking up units like crazy, just over twenty six units so far. And then now next week I'll be going to Vegas and then Los Angeles and then probably Australia, Latin America down to Costa Rica and pick up more Airbnb because I mean, the system's working and it's it's a lot of fun. I get to travel, enjoy myself and make some good cash flow.
Dave Debeau [00:04:31] Sounds awesome. So if you're knowing what you know now, rewinding three years or three years and a bit, is there anything you would do differently?
Tyler Hassman [00:04:39] Yes, I would. As crazy as this might sound, I would have not started with buying multifamily apartment buildings because myself, three years ago I was like, I want to become a full time real estate entrepreneur, which I did. But multifamily doesn't provide you when you use an investor's money as well, provide you with that instant cash flow. Right? I mean, there's some cash flow with acquisition and a management fee, but it really isn't like mega cash flow to make sure you. Live off of so I would say I would start off and doing Airbnb short term rentals. It's a lot less risk and it's cash flow right now than it can fuel your bank account so you can work on other projects and other passions. But I'm glad I did start in multifamily, though, because I learned so much. It made me such a tough person. And when when times are hard with getting cash flow and paying it all to investors, I'm not getting much. Then it opened up different doors for me to be like I need to make money. So then I was like, I'm going to do some property management. I learned a on property management, I would network more. I would try different things to make money through real estate, which then led me into Airbnb. So, I mean, I would probably have to sum it up. I would start off with a different type of real estate than multifamily. But it was great that I did it
Dave Debeau [00:05:50] because you wanted to get into it to create a full time income. Cash flow was your number one. Yes. At the time. And yeah, like you say, even you have to get into a lot of units before you're generating enough cash flow to live off of, that's for sure.
Tyler Hassman [00:06:06] Oh, absolutely. Absolutely.
Dave Debeau [00:06:08] All right. Very, very cool. So how did you I mean, a solid network you got around all that kind of stuff. When did the spark hit you about Airbnb or how did that come about?
Tyler Hassman [00:06:19] Yes. So it hit me because, you know, I'm buying all this real estate, right. And my meby my age. I want more than just long term money, long term big networks. I mean, for me right now, it's not that important to me. But I'm getting all these buildings in crazy net worth in five, four or five years would be great money. But then I'm like, it's not supplying my lifestyle right now
Dave Debeau [00:06:42] with bottle of salary in the meantime, right?
Tyler Hassman [00:06:44] Exactly. And I'm not. And while meanwhile everybody else and I'm dealing with they already that's exactly what they need because they have lots of money coming in now they're planting seeds for the future. So everybody's like, oh, you're going great in the future, this future that. But I'm like, what about right now? So that's when I found out about Airbnb. And the number one thing is I want to travel. I never traveled before. I want to travel. But I'm not the type of person. I mean, I'm an entrepreneur. I can't sit still. So then I'm like, you know what I found out about the Airbnb stuff? And I'm like, you know what I already do. Real estate takes little to no money. I don't get to get a mortgage. I don't have any of that stuff. I'm just going to go down to Phenix and try it, like I mentioned before. And I just went down and did it. And like I said, the cash flow started coming in and it started feeling my passion of being able to travel and being able to build another real estate business, because I'm the type of person that I believe in all types of real estate. I'm never like, no, you should only do this. I only do this. I believe that all types of real estate are amazing and I'm going to do every single one. But there's certain types of real estate you need to do to fulfill your needs at a certain time. So for me right now, it's quick cash flow and then building a big cash flow business and then also traveling and vacationing and doing that. And then obviously later on, I'm, of course, still going to buy some multifamily. I want to buy a resort. I want to buy stuff like that. But for right now, it's strictly the quick cash flow
Dave Debeau [00:08:00] that makes a lot of sense. So so right now we're in February. You started the business when I'm on December 1st of twenty nine.
Tyler Hassman [00:08:12] Twenty two and a half, three months.
Dave Debeau [00:08:14] Three months, three months. OK, so and you and you've got what is a twenty three of the twenty seven.
Tyler Hassman [00:08:20] Twenty six. And I believe it's twenty seven as of tomorrow. I'm in actually in one right now that we're getting finished. I voted for because tomorrow is the march first they're getting all that signed up.
Dave Debeau [00:08:31] So just out of curiosity because yeah. You've got a lot of property management management experience from your apartment building experience, et cetera. But in order to be traveling and doing all the stuff that you want to do, how are you going to manage your twenty seven Airbnb properties in Scottsdale?
Tyler Hassman [00:08:51] Yes. So there's an amazing program. So all you listeners out there, you might want to write this down. You want if you're doing short term rentals or Airbnb vacation rentals or even you only have your own property. There's an amazing program called Guest. So I guest and then why. Yeah, yes, the dotcom go to it. And it's literally a property management company specifically for Airbnb properties. They do it nationwide. They handle everything for you. And then on top of that, we get really close with our cleaners. So our cleaners are everything. They're either they're here. I mean, obviously we've got people staying for one night, some for four. So it's always come and go. So we have four different cleaners that are like almost like our managers, our eyes on the ground that are restocking everything, checking on things. Hey, this person left this at this that, this, that. So we have them on the ground that are like washing my hocks. And then we have JESTE, which is like the management service that we just kind of overview. And then also when we're here, I, I network, I go to networking events. Another great thing of I want to be able to I can go to Phenix networking groups or Scottsdale. I've met so many people, I've met investors down here. It's crazy when you you meet when you go to different cities. So now I'm well connected with other people that are now doing the same thing as me and they live here. So I also have them. So if there's any. I can call them, be like, hey, I need help. You go do this or last resort, I just had to fly back here, you know, but but that's a big thing, too, because I messed up with I didn't mess up. The multi family started properly managing it. And the next thing you know, I was a property manager. I wasn't an entrepreneur no more. I was I didn't like it. Right. So going into this Airbnb, someone started getting a few units. I'm like, no, we need a systemize it. Like, we need to systemize this. I do not want to handle any of it. Right. Because at the end of the day, I want to do real estate because it's fun to set up properties and see that money coming in. But I'm not the that like to manage it, you know what I mean? Hey man, I'm done.
Dave Debeau [00:10:46] And 10 percent to my God, I suck as a property manager.
Tyler Hassman [00:10:50] That's just me do I was to.
Dave Debeau [00:10:54] All right. So if people are watching this going, holy crap, that old Airbnb thing sounds like a like a good idea, what would be some what would you suggest? As some like baby steps to kind of check it out and kind of controlling the water, so to speak.
Tyler Hassman [00:11:12] Yeah, so the best thing to do is whether you even start with the city you're in. You always want to start in your own backyard, I feel, because when you're know how it is, if you're going to buy your first piece of real estate, it's a lot harder than when you buy your 10th real estate deal. You can probably buy something and not even have to go there. But for starters, you got to be there. So I would say look in your own backyard, go on a website and you can write this one down to er D in a dot com or just Google er DNA and you'll see it'll pop up Unforgiven, forget the dotcom and it actually shows analytics for your city. How many listings. The vacancy rates, this and that. There's a lot of stuff on there for free and you can also pay and it shows you like a bunch of info but you can go on there and look at data. It's interesting to see all the different units in your area and then also do is just simply go on Airbnb app and just go and search on the map for like areas by the stadium or areas downtown and see what they're charging, look at their calendar and be like, how often are they booked out? And then what you my favorite thing actually, here's a quick one. Look on Airbnb and find like a certain area where there's Airbnb in your city and then find one that's like an apartment building or even have a house. Right. And see what they're charging per night and then go on Kajiji or realtor the MLS and see if you can find a property for rent. That's right. At that building or right down the street from it and see how much it's for rent. So, I mean, if somebody is charging, say, one hundred fifty dollars a night and say they're fully booked for a month, then I'm terrible at math, whatever they're making on there. But what if that property to the condo, that's the building. It's only fifteen hundred people to get that kind of fifteen hundred. That's all your expenses and you're charging that the other person is charge one hundred fifty at night for 30 days. Pretty sure they're doubling or tripling what they're paying rent. So that's a quick exercise that I like to do and that's what got me started. To be honest. I was like this one I'm staying at right now. This guy was had it on Airbnb like one hundred and one hundred eighty at night. And then and he also had it listed for rent for twenty five hundred in the busy season. But I said I'll sign a 12 month lease with you for fourteen hundred and he said yes. So I mean this one is the cash cow and that actually leads me to the next thing. If you're wondering how do I get these properties, that mortgage is a down payment. I lease at sublease the other day. I mean, if anything happens, market crashes, I just cancel my lease. So, you know, I'm going to worry about anything huge. So that's the thing. You are getting that long term mortgage pay down at the end of the day. I mean, that's my focus right now. It's just that cash flow and it's fun. It's low risk. I mean, did you know how easy how easy it is to leave canceled the lease or you pick a wrong property and you have a mortgage, you're you're stuck with the lease. There's ways to get out. And that's why beginner people, I think it's fun to even start out trying to do one or two, Airbnb, even one, and then get into buying an asset, buying more assets. So that's that's kind of the long answer to a short question. But of that
Dave Debeau [00:14:08] was that was a brilliant my friend. Yeah. So you're you're tying them up, you're signing a lease and then you're subletting as a very, very smart and very, very smart with a low risk. So telework, we've got about two and a half minutes here about rent. So you're traveling the world. Are you having fun doing the Airbnb thing? Do you do any coaching, training, that kind of stuff as well, or just focusing on the business itself?
Tyler Hassman [00:14:33] Yeah, I absolutely do. Coaching and training. I love it. I love the with people. I love helping people. It's always been a passion of mine. So I have something called the Young Guns Academy and what we have in there that Airbnb, because and then there's also going to be bringing on some amazing people, doing some media training, some personal development. I've also got an amazing girl that's coming on that's going to be doing some women's empowerment courses and stuff. So it's going to be like a really good tribe of young entrepreneurs helping out a bunch of people that want to get into real estate or just get into entrepreneurship in general. So that's something we've been really, really working on right now. And we've been getting tons of people into the academy recently with this whole Airbnb thing. So it's exciting,
Dave Debeau [00:15:13] I would imagine. All right. So if people want to find out more about you and what you're up to, what's the best thing they can do?
Tyler Hassman [00:15:19] You can find me on Facebook. Just tither Hasman to our family and you'll find me on my personal page. And then you can also search up the Young Guns Academy or on Instagram at Youngun, Tyler at Youngun, Tyler, Instagram.
Dave Debeau [00:15:36] Awesome. OK, we've got one more minute. Now, what would from your your experience now with real estate and with Airbnb, what would be the most valuable free tip you could get?
Tyler Hassman [00:15:47] Folks get started now stop procrastinating. Do not over analyze. That's one of the things that's good to analyze. But like you just got to get started. That's what you that you did the first property, the hardest one, even knew what this really of the first profit was like. Oh, my God, is it going to work. Oh my God. I'm doing it. I did it and I'm like, that was easy, and then boom, boom, boom, it started picking up like crazy, so get that first one done and then just build up off that momentum.
Dave Debeau [00:16:15] Very good, wise words from a youngun, Tyler, thank you very much, my friend. Hats off to you. That's brilliant what you're up to and I wish you all the best. And I and continued success. You deserve it.
Tyler Hassman [00:16:26] Thank you so much, Dave.
Dave Debeau [00:16:28] All right. Take care, everybody. Well, thanks very much for checking out the property profits podcast and you like what we're doing here. Please head on over to iTunes, subscribe read us and leave us to review. Very, very much appreciated. And if you're looking to create a regular flow of inbound investor inquiries about your real estate deals, then I invite you to attend one of my upcoming live online demonstrations. And you can check that out at Investor Attraction Demo Dotcom Ticker.