In this episode of the Alchemist Nation Real Estate Podcast, I talk to Emanuele Pani King of Short Term Rentals in South Florida. I wanted to know how he got into short-term rentals, why short-term rentals, and why in South Florida. He says that he would love to make himself sound very smart and let me know that how big this industry would be at the beginning, so he graduated from college in 2010 with a degree in accounting and finance, at the time wall street was closed due to what they did last time. He came back to South Florida though he lived in Geneva, Switzerland where he went to university, and his mom and sister used to play tennis at a tennis academy down in South Florida. So he came back with a tail in between his legs going back to live with his mom and at the time the only job he could find was a maintenance guy at an apartment complex where his mom and sister were living. He randomly walked into the office, asking the guy that owned it that they needed something for the apartment. The apartment owner asked if he was Anna Maria’s son and he asked Emanuele what was he doing there and he told the apartment owner that he couldn’t find a job and he was there for a little while. He told Emanuele that it was a busy winter season from December 18th to 23rd and he needed help in the office and the owner was Jewish and he didn’t work on Saturdays. So he needed somebody to pick up the phone calls on Saturday and he wanted to know if Emanuele would be open to it. He couldn’t find the job at the moment and he accepted the offer.
He says that his beginning in real estate was very humble where he was a maintenance guy and he did everything from painting to doing unit turnovers to having to go vacuum. Then very serendipitous, the gentleman whom he calls one of his original real estate mentors got a divorce in 2012 and wanted to move back to Israel. The owner of the business asked him if he wanted to buy the business where he was 22 at the time and he had no idea but since he had seen him do it, he was like let me do it. So he went from being the maintenance guy to owning 16 apartments and also owning the management of a 40 unit apartment complex which is literally his beginning. Fast forward 10 years later in the real estate business, he now owns 39 apartments down in the South Florida market where they have a real estate team, they have property management business and he is a partner with Jon Huber, and they own Domu investments, a company that buys small to mid-sized apartments in the midwest.
To listen to Emanuele Pani’s Alchemist Nation Real Estate Podcast on Anchor: #115 Alchemist Nation Real Estate Podcast with Emanuele Pani The King of Short Term Rentals.
What Drives Emanuele?
I wanted to know what drives, Emanuele. He says that it is always an evolving answer which always has a money element in it which is an underlying thing of all entrepreneurs that all of them want to live a successful life and make money. To him, real estate is a business about people and he loves to take care of people. He takes great pride in taking care of people regardless of whether they are short term tenants, long term tenants, his real estate clients, buying, selling, investing. What drives him is providing value and great service through taking care of people through real estate.
What the future Holds for Emanuele
I ask Emanuel what does he see in the future in terms of real estate, his customers, and the way they’re going in the future. He says that real estate is in an interesting spot right now where they’re really pushing hard on a couple things as Domu Investments that include: 1) They are looking to scale the business though they have a little over 100 doors and by end of 2021 they’re looking to have a 1000 doors at the end of the year. 2) – Locally for the South Florida market and vacation rental space, there is a huge opportunity space coming up for the small hotel-motel boutique properties. They were run by mom and pop operators, unfortunately, they weren’t ready for what happened, weren’t online and they didn’t how to play the game as they do. In the hospitality sectors, they’re finding like 10 – 30 unit hotel-motel boutique properties that they can convert and push through all the platforms like Airbnb, Vrbo, booking, etc, and optimize that asset class.
Emanuele offers 3 pieces of advice to 20-year-old Emanuele who is just starting out in real estate.
1) – Education but you’ve to implement.
2) – Realize that people want to feel seen, see them but remember people are people.
3) – You’ve to upgrade your operating system.
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To get in touch with Emanuele follow on Instagram @epani.realestate or email email@example.com
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