Cops Kicked In Our Airbnb Door for a Fugitive — What 10 Years of Hood Rentals Taught Us

Send us Fan Mail Steve was catching up with the guy who used to clean their old Dallas units when he got reminded of this one: the police called Steve asking about the guest in one of their Airbnbs just north of downtown, then kicked in the door and arrested her — she was on the run from a killing in California. The cops told the cleaner to clear the place out, and he kept the PS5 and the Bose headphones. That's the hood-rental school both hosts came up in, and they say it still beats anything a guru will sell you: you see every situation, you learn which guests your price attracts, and you learn that an apartment manager who's a little too eager to let you Airbnb is a red flag. Episode 355! Myka and Stevie Stacks start at Texas Roadhouse and Chick-fil-A — customer service is what you charge extra for — then get into Stephen Jackson saying today's players lost their hunger. Myka's research says Arkansas only dropped 6% in the 2008 crash against 19 to 26% nationally, and Steve thinks Texas has a lot more room to fall this time, with refinances down 60%. An AI pyramid scheme whose sales call was a robot, AI-touched profile photos on every Airbnb booking, and listener Vincent Reyes on RMLOs for owner-finance deals. Then the $30K flip vs $12K a year in rent fight, backup Wi-Fi when AT&T goes down, charging construction crews for the beer-can trash, midterm security deposits ($1,500 vs $2,000), why Steve won't front rent for a third-party housing company, a 4-bed, 2-bath that did about $20K in two months, robo-taxis and a future with no driveways, and why the hungriest people win. MENTIONED IN THIS EPISODE Books • The Frictionless MTR System — Vivian Yip (the step-up pricing Myka is using) • The Alchemist — Paulo Coelho • As You Like It — Shakespeare ("Sweet are the uses of adversity") Podcasts • The BetterLife Podcast — Brandon Turner and Cam Cathcart • Founders — David Senra • The Joe Rogan Experience People • Stephen Jackson on today's NBA players • Shout-outs: listener Vincent Reyes, Josh from the YouTube comments, Myka's mentor Tools & programs: RMLOs for owner-finance buyers, cost segregation and the short-term rental tax loophole (talk to your CPA), PriceLabs, Starlink, T-Mobile Home Internet, Via in Arlington, Waymo, Zoox, ChatGPT, Claude CHAPTERS 0:00 Cold Open 0:54 Texas Roadhouse: Hospitality Is the Business 4:31 Chick-fil-A vs Zaxby's: Service Sets the Price 6:19 Nice Place or Great Service? Rentals Need Both 6:35 We Got Rid of All Our Hood Dallas Units 7:54 Starting in the Hood Teaches You Everything 8:37 Cops Kicked In the Door: Our Guest Was a Fugitive 10:38 Cheap Pricing Attracts Guests Who Cancel 12:14 Arbitrage Tip: An Eager Landlord Is a Red Flag 13:44 How Myka Got Overstays Out 14:27 Stephen Jackson: Players Lost Their Hunger 17:25 Arkansas Only Dropped 6% in 2008 18:49 Texas Has More Room to Fall This Time 19:53 Refinances Down 60% — Be Prepared 20:46 The AI Pyramid Scheme Pitch 22:25 The Sales Call Was an AI Robot 24:04 AI Photos on Every Airbnb Profile 26:44 Listener Vincent Reyes on RMLOs 29:16 Why Owner-Finance Sellers Use an RMLO 31:08 "$30K on a Flip Beats $12K a Year in Rent" 31:48 Myka's Rebuttal: Taxes and Cost Segs 33:25 Flip, Wholesale and Hold: Use All Three 35:38 Coaching Programs vs Doing Deals 37:07 AT&T Outages: Backup Wi-Fi for Rentals 39:48 Construction Crews Are Heavy Gamers 40:45 Charging Guests for Trash Through Airbnb 42:27 Midterm Security Deposits: $1,500 vs $2,000 45:06 Pet Fees and Utility Caps 46:39 Watch Out for Third-Party Housing Companies 47:27 The Middleman Deal: Arbitrage It or Walk 51:14 The Frictionless MTR System 52:30 4-Bed, 2-Bath: $20K in Two Months 53:39 Buy a 3-2 With an Office, Make It a 4-2 57:10 People Come Here Hungry 1:00:11 The Investor Who Never Heard of Cost Segs 1:02:33 Myka's Parents and the Value of Hard Work 1:04:42 "Hard to Wake Up at 4AM on Silk Sheets" 1:08:26 Uber Exec: No One Will Need a Car 1:12:01 Single? PadSplit, No Car, Uber Everywhere 1:15:03 Houses Without Garages or Driveways 1:16:25 The Case for PadSplit in Nice Neighborhoods 1:18:22 "Sweet Are the Uses of Adversity" 1:20:15 Founders Podcast: Happiest in the Fire 1:23:41 Where to Find Us Become a Live Let Thrive Insider: For $3 a month, get every new episode 5 days before everyone else. Raw, uncut, and early. Join here: https://www.buzzsprout.com/2641586/subscribe Julie George's Million Dollar Host STR mastermind: 140+ operators, 3 live calls a week. Code MYKA = 10% off your first payment. Springboard to Wealth Real estate mentorship with Thach Nguyen & Stephanie Owens: education, accountability, live events. Julie George's Million Dollar Host STR mastermind: 140+ operators, 3 live calls a week. Code MYKA = 10% off your first payment. Disclaimer: This post contains affiliate links. If you make a purchase, I may receive a commission at no extra cost to you. Support the show Work with us. Interested in professional management or consulting? Myka — Sharebnb: www.sharebnb.com Steve — Argest Rentals: www.ArgestRentals.com Sign up for PadSplit with Steve's link and get a free 1-on-1 PadSplit strategy call with Stevie Stacks: padsplit.com/hosts Myka's other podcast, Entrepremarriage — building wealth without losing the marriage: youtube.com/@Entrepremarriage All our links: linktr.ee/liveletthrive #airbnb #airbnbhost #shorttermrentals #midtermrentals #padsplit #rentbytheroom #coliving #corporatehousing #BRRRR #realestate #realestateinvesting #VRBO #shareeconomy #airbnbsuperhost #airbnbpodcast #sharebnb #liveletthrive #liveletthrivepodcast #biggerpockets #directbookings #bookdirect #dfwrealestate