Nancy ([00:01]):

Well, Patty, welcome to the artful investor. And I want our audience to know that we go quite a ways back. Patty and I actually went to high school together and then our careers diverged a little bit. But in high school we were in art classes together. And Patty tell people a little bit about what you did with your art training.

Patty ([00:28]):

Okay. Well, I got a fine arts degree in college. That’s truly my love. I love to paint and cartoon and draw. I’ve illustrated a couple of books and that’s what I love to do. However back in the day I got into graphic design after college and became a graphic designer in the corporate corporate healthcare. And I really enjoyed that, but you know, that was my living and my fine art took a backseat for a while, but that’s basically I’m just you know, I’m an artist and, and I’m back into doing art work now.

Nancy ([01:10]):

All right. So when you were in the corporate world, but you didn’t have a whole lot of time for fine art,

Patty ([01:17]):

Correct? No. that the graphic design is a very fast paced kind of job, and it is sort of, I call it creativity on demand all day long. So you really have to be under deadline, creative, competitive. And by the end of the day, mostly every day, my creative juices were kind of, you know, plummet, you know, they were kind of gone by then and I really didn’t do a lot of painting and drawing for many years, I’d go in spurts, but not for a long time. Well,

Nancy ([01:55]):

And you live on a Lake and so there weren’t many graphic design opportunities, right? Where you live, correct.

Patty ([02:03]):

Right. I had a commute for, quite for many years that was 40 miles each day, each way. So that was an 80 mile commute for many years. Up towards Lake Michigan in the winter was, was not really what I would call fun, lots of snow and it was on a bypass, you know? So by the time I had that kind of very busy, very fast paced job and a long commute that, that really did kind of, sort of push my fine art under the rug, you know, kind of thing, but it, but it was good for awhile.

Nancy ([02:49]):

What didn’t you like about corporate life besides that commute?

Patty ([02:54]):

I really was okay with the fast paced a while, but after many years of that, it kind of wears you out in a way maybe some people thrive on that. I’ve found out that I didn’t thrive so much on graphic design, but I know that fine art was always tugging at my heart. So and it it’s a business that is very computer oriented and you really have to keep up. And every little thing that comes along, you’ve got to, you’ve got to stay in it, which I did, you know, and I enjoy that too. But after a while, I wanted to kind of slow down and kind of listen to what was in my heart to do.

Nancy ([03:40]):

So this is a show about real estate. And so far we’ve been talking about art and my listeners are probably going, why is this person on the artful investor? So perhaps you can tell people what you decided to do with regard to real estate.

Patty ([04:01]):

Okay. after the job with the commute, I took a job that was closer to home and it was not corporate. It was in a, you know, a smaller business and, and that kind of thing. And there was still, you know, where I live. I still had 28 miles a day to drive. Okay. So I live on this Lake and was thinking I would just really rather not have to commute and, and thinking I would like to do something completely different than graphic design so that I can get my head back around artwork. And so we own this cottage next door to where we live on the Lake and it’s been a labor of love and we’ve been working on it for years. But we had really been working on it the past couple of years. That’s my sister and her husband and I, and we finally got it to a point where I felt well, I could probably rent this out on Airbnb and make a living doing that staying home cause I’m right next door. And, you know, just enjoying and letting other people enjoy this. One of the oldest houses oldest cottages on the Lake they’re being torn down like crazy and there aren’t very many left and I wanted to use it and share it. So I decided to quit the graphic design thing and start Arab on Airbnb rental. And it’s worked out really well. And I’m back into doing some of my fine art,

Nancy ([05:30]):

Fabulous. And I’ve seen the cottage and it’s absolutely adorable and I can see why people would want to rent it. And so did you just quit your corporate job or did you ease into this? How did that quite work?

Patty ([05:45]):

Oh I had gotten out of the corporate job because I didn’t want to do that commute. And like I said, I wanted to slow down a little bit. So I took a job in assigned shop in a town near here. And it was still, you know, it was still somewhat of a commute because this Lake isn’t far from places it’s 14 miles from South bend, Indiana, 14 miles from Elkhart, Indiana, and 14 miles from Niles, Michigan, but with a commute it’s 28 or 30 miles to get back and forth. And that’s still in the winter, not something that I wanted. So I did that for some years, three or four years. And even though that was easier, easier than what I was doing. It was still graphic design and I wasn’t doing my artwork and I didn’t want to travel in the winter. So,

Nancy ([06:35]):

And when you switched over to Airbnb, did you just like cut off doing your graphic design work and start doing Airbnb full-time or did you ease into it still doing your graphic design, but started Airbnb while you were doing that?

Patty ([06:51]):

I did ease into it because I didn’t know how this would go and I really, I still do some graphic design. I do enjoy it when it’s not, you know, full on. That’s what you do eight hours a day. So I eased into it. I freelanced and I worked with this, the last business I was at, I worked from home for them for quite a while, so that I didn’t have to come in. So yeah, I was still doing that. I still do some, but this cottage has taken off where I don’t have to do any of that if I don’t want to.

Nancy ([07:22]):

And compared to what you were making in corporate America versus Airbnb comparable, better worse.

Patty ([07:33]):

In corporate America, I was, I was making good money. After that, it was probably half of what I had been making years ago. But this Airbnb and because I don’t travel and don’t have to do other things I’m making more than I had been for the last five or six years.

Nancy ([07:54]):

Fabulous. So now tell us what you do with respect to the Airbnb. Are you like one-stop shop, you’re doing it all.

Patty ([08:04]):

I am one-stop shop because it’s an 800 square foot cottage and it’s right next door. So I do the cleaning. I do the, I offer a little bit, you know, like bagels and orange juice and, fresh water. And I do the shopping for that and bring it back and keep it updated. I do the laundry, you know, I don’t mind doing that. It’s right here. So I’m doing all the booking yeah.

Nancy ([08:31]):

And deal with all the issues that arise.

Patty ([08:35]):

Yeah. I do. Okay. Airbnb is good. And, so I haven’t really had any problems.

Nancy ([08:42]):

And how often are you booked?

Patty ([08:46]):

I am booked solid. I can’t believe that people come here in the winter or frankly the winters are harsh, you know, that, and I had people almost every weekend. They were like two or three nights. And then I would have time. I left time in between this past year because of COVID, you know, I wanted to not back up, back to back people. So I probably only had two weekends in the entire winter that no one came here. And lots of people from Chicago for a country getaway.

Nancy ([09:20]):

Well, it’s an absolutely gorgeous Lake. And have you freed up time for your artwork?

Patty ([09:28]):

I have. That’s been so wonderful. That’s the thing. We have a little cluster of houses here. We live in one house on the Lake and then the Airbnb is next to it and we moved to a house across the street and we’re rehabbing that too. And I have a studio in there so, you know, I could become a hermit you know, I can go across the street and, and oil paint and draw and yeah. So

Nancy ([09:59]):

It’s great. When real estate can free you up to do what you love. Now, you had a bit of a scare didn’t you with Airbnb?

Patty ([10:09]):

Oh, I did just recently. Yes.

Nancy ([10:11]):

Yes. So tell us what happened.

Patty ([10:14]):

Well the township board this went through various other Airbnb people and people on the Lake, like wildfire that they were going to have they’re proposing an ordinance to regulate Airbnbs, or we didn’t know if they were going to get rid of them because that, that happens. You know, you can have an ordinance saying there’s just too much of this. We’re not going to allow short-term rentals. So it was quite a large zoom meeting on that topic. It was a public thing. But it turned out well, they, you know, they knew they were going to have some people that were upset without really knowing what was coming yet. So they talked us through it and want to work with everybody with the Airbnbs on the Lake. They just want to make sure that safety issues are in place. And that there are Michigan regulations where they felt they had to, like they said, ignore it or regulate it or whatever, or just let things be. So they felt they needed to have an ordinance. And that ordinance turned out to be okay. You know, I wish there wasn’t one, but it’s going to be fine. And I think these things happen quite a bit.

Nancy ([11:31]):

Well, I think it’s a good warning for people that want to do Airbnb because you know, the first thing you need to do before you jump into it is check to see if there are any local ordinances, right. Need to pull a permit. You might need to register and pay fees. Better that you know that upfront and really should make sure that you aren’t prohibited from doing it at all because, you know, you could buy or rent a place thinking you’re going to do Airbnb with it. And then all of a sudden you can’t right. And so always better to check the regulations.

Patty ([12:15]):

it’s on any kind of short-term rental, you know, a VRVO, Airbnb, just if you buy a place and want to do it on your own, so yeah. You have to check the local ordinances, right?

Nancy ([12:30]):

So I’m going to let you pitch your place, tell people how they can find this wonderful getaway.

Patty ([12:38]):

Okay. Well, like I said, it’s, it’s close to South Bend Elkhart and Niles. I don’t know if people know where that is, but it’s really, it’s, it’s close to Lake Michigan. We have a lot of people from Chicago coming in for a weekend getaway. So you know, I’m on Airbnb and it’s called rustic cottage in Edwardsberg, Michigan and Eagle Lake. Right. And if you look up rustic cottage, this’ll pop up first and that’s an 800 square foot, small, old cottage directly built into a Hill directly on the water. And people feel like they’re in a houseboat when they’re laying in the bed up here and looking out the window and they just see water, like they’re floating down, you know, floating down a river or a Lake.

Nancy ([13:29]):

And you’re actually doing this podcast from the second story of the short term rental.

Patty ([13:34]):

The building is from turn of the century. And yeah, it’s, it’s very cool. I shut the door back there. It’s got a funny little bathroom and this is the bedroom upstairs to it.

Nancy ([13:50]):

Full kitchen and living room downstairs. And it’s got a patio and it’s got a yard with all this grass that goes right up to the water

Patty ([14:02]):

And a long deck, or it’s got a deck and then a long dock.

Nancy ([14:08]):

Lake has sailboat races during the summer, which are always a blast and it’s wonderful to swim in. Anyway, can’t say enough good things about it. And so they should look for rustic cabin on Airbnb, rustic cottage, Airbnb,

Patty ([14:30]):

In Edwardsburg, Michigan.

Nancy ([14:35]):

Thank you so much for being on the artful investor. And I’m sure that this has given our listeners some good insight into Airbnb and how to quit your corporate job.

Patty ([14:54]):

It’s been a great turn of events for me. It’s just been great.

Nancy ([14:58]):

Fabulous. Thanks Patty.

Patty ([15:01]):

Thank you.