Transcendence

 I am pivoting my business model in major ways.

Just like it worked out for Marriott Hotel, I hope it works out for me as well.

We are going from a rental arbitrage model into a property management business model.

At least, for the business in Korea.

And we will continue expanding the arbitrage model abroad. I am thinking Bali, Japan, and Dubai.

So it will be a hybrid model. Similar to that of McDonalds or Marriott. (Selling their franchise service, but also doing real estate).

I need to do more research on property management.

The first Airbnb in Bali is turning out to be a bit of a flop because I did not do enough market research prior to jumping in.

It still paved the way to creating a system, so it was not completely bad.

However, in hindsight, I see that a lot of things could have been done better.

I want to make sure not to make the same mistake jumping into the property management business.

In hindsight, I got very lucky with my first few Airbnbs. I think that truly putting in a lot of care and attention and making educated guesses really did pay off.

I need to continue putting my passion and best intentions into the business, to continue the success train.

Choo choo!