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The Only Pricing Strategy I've Found That Works · Short Term Rental Problems and Solutions

• Jeremiah: It's not all sunshine and five star reviews. It's sometimes very challenging, and without a roadmap, we can get lost very easily trying to navigate the landscape of short term rentals. If you believe that, this means you're in the right place. Today we're helping Kai by focusing on something which is very often overlooked, determining what rates you're going to charge for a short term rental. I'm happy to help him because this is the community where we talk about the gross, awkward, and the operational messes, as well as the real strategies that help you keep going instead of quitting. This industry is somewhere where you can win big, or you can ignore education and you can quit. My name is Jeremiah. I'm an investor and property manager with over 140 units. I talk about what rental investing looks like from the inside. Welcome to Short-Term Rental Problems and Solutions. Let's get into today's email. Hello Jeremiah. My partner suggested I email you about rates. We're almost finished renovating our four bedroom house, so we'll need to complete the listing. One question I need to figure out before publishing the listing is the rate. What should I put in there? I don't want to mess up the listing or cause it to flounder. We've spent so much more time getting it ready, and I did not budget for going this long without rent. I feel like there's no margin for error. Warm regards, Well, Kai, I probably shouldn't tell you this, since there's businesses out here keeping revenue management a secret so that they can stay in business. But you know that I talk about the strategies and the secrets I use freely, regardless. So, okay, I'll talk to you like you're my brother. let's get started with what you are gonna need to get your listing published. you're gonna need a rate on Airbnb. Now, if you expect your property to land around $900 a night, you're gonna price this maybe $400. If you expect it to land around $170 a night, you're gonna price this around like $105. Okay. So you're just gonna pick a number that's about 60% of what Airbnb is suggesting, and then you're gonna publish the listing. So the price that you put up there right then is not gonna make much of a difference. reason for this, I don't think they show your listing to anybody. Once you hit publish, it's just published and it exists. And you can find it with your link. But it's not yet like placed on the search results. So people aren't really finding it. I had this happen one time with a house. It took three or four days for it to show up on Airbnb. Like you could not find it on the map. And so I was searching all over for it and I ended up calling Airbnb and everything. And by the time they got back to me, it was already up. So, you know, this is not high stakes the way you might think it is. Also, a note to not pay attention to it the way you might, because the first couple of days, it's not gonna get any visibility. So once you get your first reservation, that's when you know, I guess people are seeing it. You can go onto incognito mode on your computer and you can look for it. I would suggest searching in the map. but again, you're only going to find it after a day or two. the fastest I've seen this done is like 24 hours. So the rate that you charge right then, not a huge deal. And you do have a little time that you can get everything dialed in, get everything filled out, complete the profile. So after setting those like ridiculously low rates and they're the same for weekdays and weekends, actually the default is for weekends to be like twenty percent higher than weekdays. So whatever that rate is, it'll bump it up for the weekends. So that's the default, the next thing that I do is I go into the calendar immediately. Like this is a top priority. And as soon as it's published, I get these settings updated. Now, once you click on the calendar, you can see these over at the right when you're looking at just that listing. Kaya, it sounds like this is your first listing, so it's probably gonna be the only one you see. So one of the first settings that I'm going to change is I'm going to change it from a 12-month window to a three-month window. that is because we are playing with pricing and I don't want somebody booking, you know, three months, five months in advance and having incredibly low pricing because we're leaving money on the table. so I change that booking window from 12 months down to three. And then I look at maybe my first three reservations are likely to come in in my first four weeks. So I'm going to block everything beyond four weeks. And so the reason for this because when you're a new listing, Airbnb is promoting you. they're giving a 20% discount to your guests. They are promoting you, they're putting you to the top of the algorithm for visibility. They're testing you out. And you need to perform really well if you're going to have this future success. So the momentum starts today. I want that momentum to be concentrated right up in the front of my listing. I've seen this happen before where people have their whole calendar open and somebody in April books like July the fourth and they're getting a 20% discount and they're getting ridiculously low pricing. And when that property should have earned like $2,000 for the fourth of July, they're actually getting like $600. I've seen that happen. So it's important that you block. Your calendar so that those 20% discounts are right up in the beginning in your first month of operation. So the next thing that I do. After blocking everything outside of that four week period is I add in the cleaning fee and the registrations fee. So most of the properties that I manage have registration fees. That's because they're in HOAs and the HOAs want their cut. So it's usually $50 to well, yesterday I did one that was $609 Pocon Lake. That's ridiculous. So if anybody's listening from Arrowhead Lakes or you're on the board or anything like that, $609 is just greedy. I don't know what you're gonna do with all that extra money. Back to the point. So Kai, remember that Airbnb is going to be taking 15.5%. And I recommend that route. they used to do this the split fee, and I'll mention this just for the people who are familiar, where the guest was paying about 12%, the host was paying about three percent. That caused too many. abandoned carts basically. And so guests were getting to this point and saying, Well, why am I paying for air cover? And then they were searching through a VRBO to find the same reservations, the same listings, and see if their end price is going to be different. It was a bait and switch, once you add everything into your cart, it was showing now you're going to pay for air cover. So they were trying to figure out ways to like kind of build that into the pricing first. And then they ended up doing it at the cart, So the 15.5% where the host is paying the full percent, that's the right way to do it. so what this means for you, Kai, is that if your cleaner is charging $200 per reservation, then you're gonna wanna upcharge this by 15.5%. So $231. On your calendar, this is where you put your fees, your pet fee, your cleaning fee, your registration fee. Just make sure that whatever you wanna end up with. specifically the cleaning fee and the registration fee that are passed through, that those things would be marked up as well by about 15 and a half percent. And you might be thinking, like, well, what if everybody else in the neighborhood is only charging $200 and they're not marking it up? well, they're actually taking a discount. That's what's actually happening. So if your neighbor has their listing up during the split system and they're getting, you know, a three percent taken off of that two hundred dollars, then now they're getting fifteen and a half percent taken off of that two hundred dollars. So they're just ending up with less. It's not really gonna make much of a difference economically speaking. at the end of the day, you're profitable or you're not profitable based on the total price. It's not, the fixed costs are still in there regardless of who's paying the percentages. after you've got your fees in there, that would be your, fixed amounts like your registration fees and your cleaning fee and your pet fee. next you want to get into dynamic pricing. So I do not use Airbnb smart pricing. I don't think it's dynamic pricing. I think it's just, you know, lowest bid. I just think it's going to price you slightly lower than your closest competition in order for you to get reservations when your neighbors don't. That's all I think it is. It's like a race to the bottom. So dynamic pricing is going to adjust not based on what your neighbor does, but what your whole marketplace does. So you get to choose what area it's judging based on the occupancy for it and everything else. So it's going to fluctuate historically, it's going to fluctuate with the market, it's going to fluctuate based on demand. If there's a sudden spike where a whole bunch of people are coming into town in order to enjoy, I don't know, a parade or something, the prices are gonna go up because it's gonna see a spike in occupancy. Things like that happen. So dynamic pricing, I use price labs. but there's some other ones and one or two have approached me that I should change over, but I'm not interested in changing in the summertime, even if I am open to it, I'm not going to do it now. what's working is working, even if I'm gonna save, you know, 50% on a $500 monthly bill. So, If you are using a property management software, this is when you import it before putting it into price labs or any other dynamic pricing strategy. If you are not using a property management software, I recommend you get one in the next three months. That way you're on multiple platforms. But in the meantime, you don't have to get one. So it's not like required. But that would go at this step. the reason for that is when you're using Hostoway or Guestie or Hospitable, they integrate with Price Labs directly. And then your pricing goes down to Airbnb from there. Whereas if you don't have a property management software, Your dynamic pricing tool will integrate directly with Airbnb. So you're gonna just bring in your dynamic pricing tool now. you're gonna start syncing your rates. if you're using a minimum night setting, you have to apply that minimum night setting in your software. Because price labs will control the minimum number of nights that guests can reserve at. so if you had put it as two minimum nights in Airbnb, price labs will actually override that. So if you mean to have a minimum night stay, which I don't recommend that you do, but if you have to, because of community or registration or township guidelines or something like that. Then this is an important step. the next is to determine your base price. Your pricing tool can help you determine a base price. Always go lower than that because we are just starting off. We're just starting to build some momentum. You need to be recognized as a big value on the platform in order for the platform to push you. So you are going to sync the pricing. Now, this is going to change your entire calendar as soon as it's synced. But while that's all happening, that's when you go back into Airbnb and you start updating the whole rest of your listing. Because once you've published, like there's still a lot of information that's missing. Even if you have it all in pictures, when you publish the listing, it's really just got pictures and a 500 character description. So you're gonna want the much bigger description, the one that gets into all the details and talks about the neighborhood and what's close to. the amenities and all this other stuff that you might not have photos of. And then you're also going to want to update your check-in time, your checkout time, all this different stuff. so the strategy of starting low. And raising your rates in response to occupancy is what we follow. And if you start with your base price too high, then you won't get your first three reservations. They just won't even come in. Even though they've given you a lot of visibility for being a new listing and a 20% discount, you're just not going to get those first three. It's just not going to get booked. I've seen this happen multiple times where property owners have told me, no, our base rate needs to be this. I feel like property owners overtaking the strategy of the property manager. Is kind of like, you know, I just want to use you for these things. But when it comes to this, like I know better than you. Do you though? you have to trust your manager, you have to trust the process. Obviously, they've done this before. And if they're successful with other rentals, then maybe you should just admit that they were successful in this one. Let's see them be successful in mine. And if they used this strategy of pricing low in the beginning with those ones, and now they're wildly successful, maybe I should let them use that strategy with mine. And here's the thing: I've never, ever, ever. seeing the strategy work where you start with your price high and lower it. your strategy of pricing it high is not going to work. We're not going to get any reservations. I'm not going to make any money. And worst of all, you're not going to make any money. if anybody's listening to this thinking about getting into property management, that's the part that's the worst part. It's not necessarily the guests, because you know what you're gonna deal with with the guests, and they're also temporary. It's taking on a property for management and then wasting all your time and money. getting that property going and putting your heart into it. And then you can't get any reservations because the homeowner got their foot on the garden hose. You just set up this whole like playground with sprinklers and and water slides and a pool and and you're like, all right, let her rip. And they turn on the faucet, but they're standing on the hose. And the water's just not going to come out. That's what it feels like. Feels like what did I do this for? If you're just gonna stand on the hose. And then they look at you and say, Well, this is my yard. You just set all this up for me. So Go play. Well, what am I supposed to do? I can't play. I'm not gonna have fun with this. I'm not gonna make money with your rental. I'm not gonna make anything if I don't have any reservations. And I'm not gonna get any reservations and I'm not gonna get any visibility because you've got your foot on the garden hose. You're cutting off my supply. You're causing me to not get any visibility on the platform. And I can only do so much with marketing, I have to be able to control pricing too. So this is Therapeutic. This is therapeutic. So thank you for listening. it might sound like I'm just complaining, but like this lesson to learn is how important this pricing stuff is. Because this is the only strategy that works. If you price it low and keep it low, you're gonna get too many reservations. And you might also get poor guests because your risk level goes up. If you price it high and keep it high, you're not going to get any reservations. So you have to eventually get into that sweet spot where you're getting the right occupancy. So start off low. So here's some things what to expect. And here's some guidelines that I look for. If I get my first two reservations within my first two days on the platform, then I'm gonna raise my base price by like five, ten dollars right then, because that's really fast. And if it takes a whole week for me to get my first three reservations, then I'm probably doing about right. If it goes a whole week and I still don't have my first reservation, I'm getting concerned. So that's when I'm going to lower my base price. That's when I'm going to double check that we're visible. I'm going to double check a whole bunch of things and make sure there's nothing wrong. Because those first three reservations should come in that first week. And if you didn't just have two by the end of the week, not all that alarming. It just means that you have a lot of competition that's like you. You can adjust your base price down a little bit to get that third one. But you want to get your base price and your strategy and your marketing algorithm. You want to get it to the point where you're getting those first three reservations quickly. Now, once you have those reservations, you need to open up more of your calendar. Now, remember, your base price is still low, but that 20% discount has gone away. So at this point, I'll usually lower the base price like 10%, and then I'll open up three more weeks or two more weeks. and over time, I look at the reservations. So You need to get that momentum right from the beginning. And then you just have to figure out how to keep it. And so if you go a week without any new reservations, you need to lower the price back down in order to get that momentum going. So ideally, the way this would look is you've got your listing, it's all complete and good and put together. You get dynamic pricing included there. You're a brand new listing. So you've got the 20% discount on new reservations. You get three reservations within the first four weeks. Once you have those three confirmed, you're going to adjust the base price down about 10%. And then you're going to open up another weekend or two weekends or three weekends. I'll usually do like two more weeks because I'm looking to get a reservation in that period of time or in the gaps between the other three reservations. I'm looking to get more visibility. I'm looking to get some people in there during that period of time. Now, as time goes, you're hosting guests, things are going well. This is not the time to take your foot off the gas. This is not the time to take your attention away from the direction that you're going. This is the time to accelerate and to continue accelerating. So, what I mean by that is as you're hosting those first three reservations, those first three weeks, you need to make sure that you're getting a new reservation every week. If you go to whole seven days and you don't have a new reservation booked yet, that's concerning. So you have to adjust your base price back down, open more days. I open the calendar based on how low I think I'm priced. So if I think I'm going to get the base price up 50% over what it is today, then I'm going to keep limiting my calendar because I don't want to get today a reservation for a holiday that's pretty much guaranteed to get booked and have that low, low pricing for it. Now if I Realize that the base price that I launched at is causing us to slow down, like it's a little bit too high. Then we reevaluate, we look at our marketing, we look at our first five photos, we make sure that they're edited correctly, we make sure that we've chosen the right photos and things like that. And we can get into that another time. Today I'm gonna focus on pricing. So you have to double-check your pricing, maybe lower it even more, and then open up more dates. So the day I'm recording this is the end of July. So we're looking at August right now. And I just launched a new listing and I opened up the first three weeks of August. Now the last weekend of August and the first weekend of September is the most expensive around here. So I'm not opening up those weekends. We got our first four reservations actually within those first three weeks. So I opened up September, everything after Labor Day. And the reason for that is because we still have low pricing. And September is typically the lowest priced month of the year in this region because, you know, like we're a vacation marketplace. So all the school sports are starting, the leaves haven't changed yet, and people aren't really like thinking of coming to the Poconos yet. So September is typically pretty low priced. And so I'm opening up those dates and leaving the other dates that I know are going to get booked blocked. Because those dates that I know are going to get booked, I want to have a higher base price for. And so those are blocked, but September's open. And then as September starts filling in, I'm gonna open up October. I'm gonna raise the base price a little bit more because every five days I want a new reservation for that house. And once we hit, I don't know, August 10th, I'm gonna be opening up the calendar for those high demand weekends. That's the the last weekend of August and Labor Day because I almost can guarantee you we're going to get booked but I want the opportunity to get the base price higher before doing that. So we only open up dates selectively. That prevents us from you know like having a whole calendar open, like what Airbnb wants is 12 months open. And there's a lot of reasons for this, but if you're gonna follow this strategy where you price low, you should only open up enough dates that you can get that momentum going with those dates. And then you open up more dates and more dates and more dates. See, because you're getting this boost in visibility. Airbnb is pushing you out to the people who are looking during the dates that you're available. So the next thing I want to talk about, Kai, is custom promos. So once you've got like three reservations under your belt, you've got three reviews, Airbnb is going to allow you to do custom promos. we actually mark up our pricing on Airbnb so that we can mark it back down using custom promos. you can't do this in the very beginning. Which is why your base price and everything is all you've got to work with. But you get a new tool later on. Once you have experience, once you have super host, I don't know what the parameters are exactly. But at some point you're able to set custom promos. And this will show up for the guest as this is normally 619 per night, but there's a cross off and it says like 318 per night. So that's because you put a percentage in there for that period of time. And they're searching for a period of time and they see your listing and they see that that cross off thing. I think there's something innate in people wanting to get a deal. So this works. but the second reason it works is you could just price it down so it's 318 per night. and they might still book, but when it says it's six eighteen and they're still getting it for three eighteen, I feel like that just presents a little bit better value for them. to know that you're just offering this good price for this short period of time. And you know, they might be able to take advantage of it. So that's what custom promos are. And you're going to want to employ those once you get going. Now, pricing between platforms. Now, this is why I said that you're going to want to within the next three months start including a property management software, like guesty, hospitable, or hostaway. I don't recommend allowing that to slow you down. I think you should host at least a few reservations, at least a couple of months without property management software so that you can see, you know, which property management software you're going to want. Because a lot of people get like really deep into the benefits and features, and they choose a property management software that's a little more expensive or it's gonna be clunky or it's gonna be really, really cheap and it's not gonna do everything you need. So get the experience on just one platform before you buy the property management software. Not saying you can't do it now, just my recommendation is that you get some experience and then kind of figure out what you want. Because they all say, we'll do. Automations. Well, you can do automations through Airbnb. Will you do AI? Well, you can do AI through Airbnb. Like you can also hire a co-host. There's all kinds of things that you can do without having a property management software. You don't necessarily have to like get your property management software first. So again, you can integrate it after you've got this thing going. So my recommendation is to have multiple platforms, but the platforms themselves respond to momentum. So we post our properties on Airbnb, build momentum with it, get that base price up, and then we launch on a new platform with a low base price. Now we're not adjusting the base price in price labs. But we are messing around on our property management software with percentages. So we'll mark up Airbnb by like 50%, while this one is marked up by like 8%, and we'll adjust that way in order to get better pricing on this platform than that platform. And what we want to see is our calendar for Airbnb not changing much because we'll adjust our base price down, we'll adjust our markup higher, and the two will balance out. That'll help you to maintain that momentum with Airbnb. But the dates that you have available on your calendar will start getting booked on VRBO because there are a number of guests that will search both platforms. And I think a big reason for that is because they're paying for air cover. And once they get into the checkout that they've seen your house and they've looked around a few, I think a lot of them are like, wow, why am I paying 12%? For this, like that's a lot of money for me to just pay for some insurance program. Let me see what else is out there. So they look on other platforms where before they were searching between like 15 different houses or like whatever listings that they were interested in. Now they're looking on another platform because they realize, okay, well, I'm ready to book now, but then I realized it's an extra 12%. Now, like I said earlier, Kai, Airbnb is getting rid of that. they're making it so that. The host in every situation is Paying the full 15%. So we're a little less likely to see that because there won't be any more surprises when guests get to check out, except for their hotel and occupancy taxes, So you might be wondering like, why do I need to be on VRBO? And I believe that VRBO is a much, much better platform for hosts. The problem is it's not as good at marketing as Airbnb is. So we have multiple platforms that we're on. The second thing to know is that you've got to be diversified, right? I'm sure you've got a retirement fund. It's Probably in a 401k, like held in mutual funds. Like mutual funds are a way to diversify instead of having single stocks because a single company might go completely out of business and your value in that stock goes from like $100,000 down to zero. But when you've got multiple platforms, you've got, you know, multiple revenue streams, and you don't have to worry so much about Airbnb blocking you. And Airbnb is quite fickle. they will take your listing completely off sometimes. And I've seen this actually happen. So this happened to us last summer at one of our five bedroom houses, where they said a guest complained about, you know, something and we're going to remove your listing. You can't put this back up. So for the rest of the summer, we were relying on VRBO reservations. And that house did really well on VRBO. And, you know, guests didn't complain and everything went well. But by September, when things, you know, slowed down a little bit. We were able to launch that property again, but on a different profile. So we were able to get it back up on Airbnb and bring it back into our software so that it could be, you know, controlled the same way as the other one. But it was literally a different profile. The same property, different profile. So Airbnb gets that way sometimes, especially when the guest is complaining a lot. They want to be able to tell the guest, we take this so seriously. In fact, They're not going to be allowed to host anybody ever again. Like, nobody ever can go to this property ever again. And the host is like, What the hell? Like, why was I not even spoken to about this situation? you're just gonna tell me that you're kicking me off the platform. So that sucks. and we can get into that story like maybe another time. it's not good to be only on Airbnb. It's risky. The other thing is Airbnb is a very risky platform because your guests can just make wild accusations and Airbnb is going to believe them. They can say they walked into the house and it smelled like smoke. They can say that it smells like wet dog. They can say that it smells like mold in here. Even though there's no mold for them to take photos of, they'll make a claim, I bet you it's just a smell coming up from the crawl space. That crawl space is probably full of mold. An Airbnb will give them a discount. They will cancel their reservation. They'll do all kinds of things without any evidence. There's no evidence that they can produce that the house smells like smoke. There's no evidence that they can produce that says the house smells like wet dog. none of this is gonna work. You know, but VRBO in dealing with a Karen, I'm sorry, if your name's Karen, you know, it's just that's just a term. In dealing with a Karen, VRBO actually said to me, Jeremiah, we believe your perspective is just as valid as the guest, and we will not force you to provide a refund or a credit. my gosh. That is so much different from Airbnb. And it's not the reason why guests are renting on Airbnb. Because if guests were aware, you know, they would choose the platform and then they would follow through with the scam. The majority of guests don't do any of that stuff, but they're still booking on Airbnb because Airbnb is much better at marketing. so that's something to know. but VRBO is just a much, much better platform. So even today, with the properties that I've already launched on multiple platforms that are already built that already have that momentum and I just want to keep it, those properties, I still mark up Airbnb by like 40%. And so after their platform fees and everything, the guest is going to end up paying about 20% more on Airbnb than they are on BRBO. And if I'm gonna get the reservation from Airbnb, I wanna make sure that I earn an extra 20% to cover the risk. Because risk, reward, they should be connected. So since Airbnb has a much higher risk, I want the reward to be higher. Their platform fees, all that stuff. I look at it this way: the guest is paying it. Because I build it into my price, the guest is paying it at the end of the day. So I just want to make sure that what we're netting after these reservations are taken. For each platform is not equal. I want it to be that we're netting less on VRBO than we are on Airbnb because I see it as that big of a difference. Also, your guests on VRBO tend to be a little like more relaxed, quiet, and mature, I don't see as many like teenagers doing parties on VRBO. and then a lot of people are on booking.com or on Google and I just haven't seen either one of those like worth the effort of putting them on those marketplaces. I haven't seen hosts with them on those marketplaces say anything positive except, you know, they fill up a weekend last minute sometimes. my take on booking.com is that it's just I feel like if a guest has a bad review on Airbnb, they stop using the platform. So then they might search on VRBO and then they might get a bad review there too. So then they go where? they get a new profile, which is not likely because it's connected to their cell phone, or they go into booking.com. And on booking.com, you as a host are competing with hotels. And those hotels are like 65 bucks a night, no cleaning fee. It's a lot cheaper, and there's a pool. So, like you're competing with resorts, you're competing with hotels, and you're like a full house, you know? So There's also not a lot of options for guests on booking.com for a full house. So if they're looking for a full house, they're going to be looking on VRBO or Airbnb. whereas if they're just looking for a place to stay for the weekend, they might look on booking.com. I don't know. I haven't seen the value in networking with other property managers. None of them really think anything good. Like they don't think that booking.com has been very helpful. In fact, some of the hosts that we clean for. They've told us that their worst guests ever come from booking.com and that they're the ones that cause the most damage and are the highest risk at the end of the day. but hey, I still recommend that you are on multiple platforms. Now, if you sign up with Guestie or Hospitable or Hostaway, you're gonna have a direct booking site as well. And that's something that you want to fill up with your best pricing. You want to fill up your calendar with your direct bookings because that's something that they can't take away from you. Airbnb can't take away your direct booking site. They can deplatform you from Airbnb if you recommend your site. So be careful with that. you have to be careful on how you do that. so pretty much every horror story that you hear from hosts is like a guest on booking.com or Airbnb. There's almost no horror stories that I can tell, except for a couple, from VRBO guests. And even those horror stories would have been much, much worse if those guests had booked on a different platform. So I give my best pricing to my direct reservations, but then the next best pricing to VRBO guests, and then After that, the highest pricing goes to Airbnb guests. And I'd really, really like for the people who are out there traveling a lot, using Airbnbs a lot, to realize that if they just start using BRBO, that we'll give them better pricing. I'd really like them to figure that out and to start coming to us that way. But until that happens, have to be on all three. I'm not just gonna say like Airbnb did me wrong, I'm gonna take my listings off because at the end of the day we're the ones who suffer, not them. They still have the same number of guests going through their platform. So they don't care that you're not on it anymore. So why don't more people talk about this stuff? Well, I think they do, like in networking groups, but you need to be around people with an abundance mindset. Obviously we talk about this stuff here. And that's because this is the show where we discuss the challenges As well as the stuff that no one talks about when they sell the dream of easy passive income. If you're a property manager, an owner operator, a co-host, or just an investor, I'd love to help. Have you got questions? Email me. Info at galvanized management.com. Your question might be the next one we break down. And chances are you'll help a lot of other hosts in the process too. We win or we lose together. If this episode helped you, great. Share it with another host who's in the trenches. Rate and subscribe too, so we can organically reach more people. That's how we make this industry better. I'd also love to see you follow us on TikTok at Galvanize Investments and Facebook and YouTube at Galvanize Management. Until next time, stay steady, keep learning, and keep building something real. This is Short-Term Mental Problems and Solutions.