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Kevin Knight
Executive Chairman, KNIGHT-SWIFT TRPTN HLDGS INC

Relationships built Kevin's 6-figure AirBnB business in under a year | Kevin Knight

🎥 Dec 16, 2021 📺 The Fearless Investors ⏱ 27m 👁 384 views
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About Kevin Knight

Kevin Knight, executive chairman of Knight-Swift Transportation Holdings, has spoken about the company's operations and the trucking industry in several interviews and company messages. In 2022, he discussed the merger of Knight and Swift, describing it as a "match made in heaven" and stating that the combined company would be the largest truckload carrier in North America. He has emphasized the importance of trust between the two companies and has said that his goal is to improve Swift's financial strength while providing growth opportunities for Knight. Knight has also expressed his view that autonomous trucks will not replace drivers in the foreseeable future, stating he will "always fight for our driving associates to be in the cab" and envisioning drivers' roles evolving to be "much like a pilot." Knight has frequently praised professional truck drivers, calling them "the hardest working, most patriotic group of individuals" and stating that the economy depends on their work. He has expressed gratitude for drivers' sacrifices and said the company will never take them for granted. In a 2022 appearance at the Global AI Summit, Knight discussed artificial intelligence, defining it as tasks where machines are approaching human-level abilities and stating that he does not see artificial general intelligence coming soon. Separately, in a 2021 interview about a personal Airbnb business, Knight described building a portfolio of 12 homes through referrals and low customer acquisition costs.

Source: AI-verified profile updated from Kevin Knight's recent appearances. Browse all interviews →

Transcript (45 segments)
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Narrator0:00
Relationships, it's totally cliche but it's so important to building an Airbnb business, especially if you're going to be a co-host for other property owners. And that's why Kevin Knight has blown up his business in under 12 months into already 12 different homes, 10 different owners. This guy is moving fast and he's going to tell us how he did that by building great relationships here on the Fearless Investor Podcast.
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Kyle0:30
Hey, welcome into the Fearless Investor Podcast, guys. I'm just gonna come out with it. If you are serious about building an Airbnb business, you're already doing the right thing by listening to this podcast, subscribing to our YouTube channel. I know you've left five-star reviews and commented and loved all of our videos, right? Wink wink. But if you're serious about building this business, you need help. And yes, you can do YouTube University, yes you can keep on watching my stuff, but you're also going to make all of your own mistakes and you're not going to be able to learn from those mistakes any faster than just the pace at which you make them. So why not bypass mistakes? Why not bypass all the headaches? Why not go ahead and just take the route and the path of least resistance? And that's exactly why I created the Airbnb Kickstart Course. It's right there on our page, right on my website, fearlesskyle.com. You can even book a call with me if you're still wondering what questions you can get answered about the course. But guys, people are getting results in under four to six weeks of getting this course, being a part of our family, our group community of group coaching, which really to me is the most important part of this whole thing. But it is such a great resource and great continued education and a great community. So I would love for you to be a part of it. Go to fearlesskyle.com and then just go to the Airbnb tab. You're going to go to the Airbnb Kickstart Course right there. You'll see all the information. It's going to be an awesome way for you to be able to get started and jump into building a six-figure, maybe even seven-figure Airbnb business if you just do the work. Now, with that being said, building a six-figure business is not anything that Kevin Knight is shy about. He did it in under 12 months and he's building this thing into what's going to, I know one day, be an empire. And he's done it based on a lot of great relationships. You'll see he just treats people the right way, from the guest to his teammates to the owners. Everyone is getting the best version of Kevin and that's why I believe he has built a successful business in under a year. Let's get to it right now with Kevin Knight here on the Fearless Investor Podcast.
Hey everyone, welcome into another episode of the Fearless Investor Podcast. We cannot wait for today's episode here with Kevin Knight coming in from Las Vegas. Got a great story, a great background. Been in the short-term rentals industry for actually a long time but broke off a couple years ago, started his own business and now he's really flying with it. So Kevin, thanks for being with us here today, man.
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Kevin Knight2:57
Yeah, definitely, Kyle. Happy to be here and excited to talk with you.
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Kyle3:02
Yeah, well, and I know I asked you before we got in here, so I don't know which story you're gonna pick, but I know you got a lot of crazy stories being in the Airbnb space, short-term rentals for a while. But which one stands out to you as the craziest?
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Kevin Knight3:15
Yeah, I think the craziest will have to go to a home in Santa Ana back around, I think, 2016. I was a general manager for a company and I had a call from a housekeeper that she showed up to the home, entered. The guest should have been gone already for the checkout. She found a naked man asleep in the kitchen with a large amount of crystal meth on the budget and the corner of the room was filled with brand new shoes and purses. And then there were two credit card making machines where they were doing all the purchases. Oh my gosh. We had the cops called, they showed up and the rest was handled. Wow. Yes, extra extra. I don't even want to know who got five stars or who didn't. So yeah, that was the interesting one.
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Kyle4:17
That's crazy, man. Well, hey, you're still in the business though, still in it, still making money and having a good time. So that's the important part. Now, let's get into it. I know a little bit about your story, but let our audience know what brought you into this space and how did it go from you being in the space to you eventually making your own business as well? I'd love to have you share the story.
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Kevin Knight4:45
Yeah, definitely. So I retired from the Marine Corps in 2014. I served just under 11 years. I was medically retired. From there, I didn't know what direction I was going. Happened to stumble across an ad for a sales rep for a new management company that was expanding into California. And that's when I was hired by Vacasa as one of their first sales reps in Southern California.
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Kyle5:15
Wow. And so that was like the beginning stages of Vacasa?
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Kevin Knight5:18
I think they had around 800 properties under management at the time, possibly a little bit more. I don't remember exactly, but it was pretty early on.
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Kyle5:31
Yeah, now they have what, over like 30,000?
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Kevin Knight5:34
Yeah, I think close to 40,000. Wow. Yeah, okay. So pretty ground level. That's awesome. Yeah, so I was fortunate to start very early with them. In fact, before I had even heard of Airbnb and before a lot of the customers we served had heard of Airbnb at the time that we were bringing into the industry a lot of new homeowners. So I had a unique opportunity to help grow Big Bear and the rest of the Southern California market. And then from there, I went over to TurnKey Vacation Rentals also and did sort of the same thing, helped with their expansion into Southern California. From there, went back to Vacasa for two more years in the senior business development role, focusing on luxury homes and breaking into new markets for luxury homes. After two years, I decided that the time was right for me to go out on my own. And so that's when I went out consulting in 2019 and then launched my full service management company in July of 2020. And so that's where I'm at today.
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Kyle6:46
That's awesome. So first question, why the back and forth from Vacasa and TurnKey? Was it just better opportunities or what was going on there?
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Kevin Knight6:56
Yeah, so for me, it was always about the homeowner and their experience. Starting out with sales and really taking the relationship building seriously. When it came to loyalty to my homeowners over the company, I chose the homeowners. And it got to a point where I decided that I needed to go to a better situation. And over time, as you know, in this industry, things develop very quickly. And as things developed, there were other changes that brought me back to Vacasa when they made a lot of big changes in 2016 and 2017 with operational stuff. And so that was more of the back and forth was trying to really find the right solution for the homeowners that I was tasked with building a relationship and, more importantly, taking care of their most valuable asset. So to me, it was always about the homeowner loyalty over my own security or anything like that.
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Kyle7:58
And was that part of the decision of why you eventually broke out on your own?
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Kevin Knight8:04
It was. One, I felt like I was boxed in at that point with the growth of the companies to where I had to kind of stay in my area. I'm always looking for improvements, especially looking at it from a homeowner lens. And so I felt like I saw some areas that just weren't being addressed with personalization of management and really taking care of the owners. And so I felt like the time was right to go out on my own.
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Kyle8:36
Yeah, I think that there's something important to be said there, which is, I could even see my business like right now. We're at 50 units and that's happened all very fast. And you mentioned Vacasa being at 800 and now at over 40,000. I always promote our management company as, hey, we're a company but with a mom and pop feel to it. Like you can get me on the phone, you can get our number one right hand woman, my assistant, on the phone and get answers to your questions. You're not getting a whole sales team of callers who you need to re-explain your situation to. But what are some of those things that you did feel like became more about the business and the profits rather than the homeowners when you started seeing these companies getting so big? What were some of the things that were lost in the shuffle, I guess?
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Kevin Knight9:31
I felt like one thing that stands out was one market's operations manager might be tasked with a significantly higher workload because of their productivity to make up for maybe the shortcomings of operations in another market, which over time just isn't sustainable. So you take these rock star operations managers but then you give them 75 homes because someone in another market... Yeah, yeah. So it's just not sustainable. And then pay cuts. It seems like operations is going to be paid on the lower end than sales and upper management. And the housekeepers and operations teams are the ones that really make it work. Without them, there's no service to offer. That's who should be getting paid the most is operations, for sure.
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Kyle10:30
Right, especially with, I mean, you're asking someone to wear a million different hats because there's a lot of things going on. Exactly. Okay, cool. So how have you taken that experience from what you saw that you didn't want your company to be to now today what your company is?
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Kevin Knight10:48
Yeah, so I think one thing that I wanted to point out that I tell each of my owners when I meet with them is that I want every owner to feel like the only owner. And so with my group of owners, and there's questions to the scalability of that thought which I totally understand, but that's how I want my owners to feel. And to this day, I'm accessible at any time from any of them with any issues they have and they get me directly, like you mentioned. So that was one big piece of it. Another big piece was I didn't want to have a high customer acquisition cost. I saw how expensive it was for these companies to sign homes even at the local level. And so I really put forth an effort for referrals and a low customer acquisition cost, which has allowed us to grow to a modest 12 homes in a year or 13 homes in a year with zero marketing spend to new homeowners. That's awesome. So it's all been word of mouth and other avenues.
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Kyle11:50
Yeah, well, and I'm sure a big thing for a lot of these owners was like, oh okay, he worked for Vacasa, he worked for TurnKey and he had a lot of experience. But what has been to you, beyond the experience, what's been maybe number one or number two reasons why you've been able to add on, like you said, 12, 13 properties here within your first year? That's really awesome.
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Kevin Knight12:15
Yeah, I think having a very deliberate plan before I launched. Knowing how I wanted to roll out over the first year and understanding that it is a process and you need to be very diligent up front with the planning. And so once I had my tech stack that I knew I could scale, I started putting the right team members in place. That's where I knew, just from my experience with the overall process, from onboarding, rate setting, everything encompassing a unit going live, I was able to do it very easily.
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Kyle12:55
That's awesome. Okay, so back up for a second. 12 to 13 properties, is that 12 to 13 different owners or what's the split? How many owners are you working for?
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Kevin Knight13:08
So in Big Bear, we have 10 homes with 10 owners. Okay. And then the other homes are with the same owners from the Big Bear property. So yeah, I mean, 90% of our homes are by one owner.
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Kyle13:22
Wow, okay. And I just want to stick on that for a second because that's a pretty big deal. I know a lot of people that say, hey, I've got one owner relationship and they've brought me 10 deals and that's their entire portfolio. But you have it spread out with 10 different owners and that's tough to do in a one year period, to develop 10 different relationships like that. So first of all, kudos to you. But kind of help me feel that. What did that look like? Was it one and then it turned into the next to the next? Was it all these 10 owners came into one room at one time and you pitched them all at the same time? What did this look like?
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Kevin Knight14:01
Yeah, it was really one at a time. I started with one property. We launched last July. So we did like $12,000 in bookings in July. And then the following month, we had a second and third homeowner that heard I launched the company up there, so they contacted me. We onboarded them. And then through December, we only had five units. That's our busy season, so I didn't want to be onboarding units while trying to maintain the homes we had. So once we cleared the peak season, we had neighbors calling me, a few people found us through our Yelp reviews. And that's kind of how we started snowballing. And we've turned a few owners away. The homes just weren't going to be a good fit for whatever reason.
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Kyle14:57
So do you have a certain, I totally get the property's got to fit. We're the same way in our properties. It's got to have three bedrooms, got to have two baths. If it's in Arizona, it's got to have the pool. There's certain looks of the property. Is there a certain look or an avatar of your owner?
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Kevin Knight15:16
I mean, Big Bear is such a mix of ownership from where the owners come from. I really take on each owner individually. Some of them, it's a true vacation home that they use a lot. Some of them are investors that will never see the property. And some of them, I talk to once every six months because everything's kind of going well. They get the statements, they get the communication from our operations team. And as far as the homes, we want to have washers and dryers, Wi-Fi. There are homes in Big Bear that don't have Wi-Fi still. We won't sign those. So, you know, but other than that, we're pretty open. We just want a nice home that we think guests will not only have a good experience but they'll want to come back again.
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Kyle16:07
That's awesome. So why do you think, and you notice I'm focusing a lot on these relationships because I just think that there's nothing easier than building, well, not nothing, not easier, but simpler. Nothing simpler than building a business of word of mouth and knowing that you have zero dollars of overhead. But what would you say if I were to have one of your owners on the show right now and ask them, why is it that you love working with Kevin? What are some of the things that they would say?
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Kevin Knight16:37
I think over the years with a lot of the owners, we've developed a friendship. I mean, a lot of them have been through so much with me personally that I've opened up to them over the years because of how much we work together. I think they would touch on the genuine care that I have for their well-being, for their home. I think really listening to what their needs are and understanding where I fit into the puzzle. I know that I'm their property manager. I know where the owners fit in that piece and I have a lot of respect for that dynamic. I think they know that I will go to bat for them in any situation. If something isn't right, I'll step up and accept whatever happened and make sure that we make it right for them. I think they love that from me. I think my background coming from not the typical property manager background, maybe being in the Marine Corps infantry for as long as I was, I think that they just connect with me on a lot of different levels.
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Kyle17:50
That's awesome. Very cool. So where do you see this business going? Do you think that you're going to continue building up in Big Bear? Do you see yourself moving to other markets? Where is this going for you?
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Kevin Knight18:01
Yeah, I think Big Bear is, I've always loved Big Bear. I want to really start giving back to the community up there. I mean, ultimately, I didn't start this business to get rich off of it. I know that this is not the type of business where that happens quickly. I did it because I want to give back as much as I can to the city up in Big Bear, to veterans through different initiatives we'll be running and have run already, and then to the homeowners. So finding ways to grow a sustainable business that gives back to the community, that takes care of our teammates. I have one full-time employee, Katie, who's my 24-year-old general manager in Big Bear that I would be nothing without. She's really the one that makes it happen up there. So making sure they're taken care of. And then possibly look at other markets. I've looked at possibly offering a free franchise to a veteran in a destination market somewhere that we would help support their growth as kind of being an owner operator in another similar market to Big Bear. So we're exploring different options.
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Kyle19:13
Very cool. So you mentioned teammates and I think that's the other part of the relationships of this. You can have an owner but if you don't have the right team, it doesn't matter how many owners you meet. So how has that been something that you've taken? I mean, you know, owner first and helping the owner, but have you applied that at all to your team as well?
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Kevin Knight19:33
Oh, 100%. And I think for me, back to my military background, just being with the welfare of those placed under your charge. And although we are teammates, I look at the relationship that her well-being is essential to us. And so just really knowing the team and Katie beyond who they are working day to day and really knowing what's going on behind the scenes and being involved with their life so they're comfortable coming to you with any sort of issues that they might have. You don't know what kind of mental health problems people might have or with relationships or family. And if you're not really in tune with that, this industry in your life is just so connected that if you're not involved at that level with your team, at some point it's going to unravel and it will affect everybody.
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Kyle20:35
I think the big takeaway I have right now is you're professional, you're offering a great service, you're obviously following through with what you're saying you're gonna do. But you're taking things from, hey, we're not just, you're not just my general manager, you're not just my owner. Sounds like we've got a lot of friendships being developed here as well. And so that's really unique. That's not something that you hear about a lot in the business world. Is that something that you believed in from the get-go? Did this just happen naturally? Where does that desire to want to build these relationships beyond work into friendships come from?
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Kevin Knight21:16
I think that emotional intelligence, like empathy, I think that's such an important part of everything we do, especially with business. And I think I learned lessons the hard way. I think maybe I got into situations where I didn't build a deep enough relationship with someone and things did happen that were unforeseen to me that maybe could have been preventable and made their quality of life better and made other things better. So I think just really being in tune. Yeah, I mean, it was definitely part of the plan, the relationship building, but it's just really who I am. I want to know more about the people than just what I see when they come to work. It's deeper than that for me because I have to find a passion to kind of keep me driving. Coming from my old career where you have a very definitive purpose and you can see the difference you're making when you're done with that at such a young age, at 28 I was retired from the Marine Corps. It's like finding a different avenue to be able to go all in on. Yeah, there has to be something deeper. You don't go fight for your brothers or sisters overseas and die for them without having a deep love and caring for them. The same way, if you don't have that relationship with your homeowner, how are you gonna treat them when they're not there? Or if you don't have that relationship with your teammate, you could put them in situations that aren't good for them and you're doing it out of your own self-interest without thinking about the ramifications.
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Kyle23:07
So that's great, man. That's great. Last question here. We talked about owners, we talked about the teammates. I think there's one other factor in all this. Is there any way to build relationships with your guests?
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Kevin Knight23:22
Oh, definitely. I think being in tune with the signals they're giving you. For example, anytime I get an inquiry that says, hey Kevin, me and my partner are coming to Big Bear for our three-year wedding anniversary, I immediately throw that date in my calendar or create a ticket and I follow up asking, oh, that's great, what's your favorite drink? Heineken was one of the last guests. So we had a 24-pack of Heineken showed up with a little card congratulating them. I think those are some of the small things, just showing them that it's more than just a transaction. This industry is very transactional. If you can show anybody involved that it's more than just a transaction for them, that goes such a long way in any industry at this time. As you know, people want to know they're cared about, even in the tiny details. If a light bulb's out, go change it. Don't wait till tomorrow. Go above and beyond for them. I think that's a big piece.
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Kyle24:30
That's awesome to build. Very cool. I love that, man. I mean, I think there's no secret of why you've been successful with this. And I know it's kind of cliche, right? Relationships. Well, but this is proof right here. Cliche works. And you are working on building great relationships not just with the owners, not just with your team, not just with the guests, but with everyone that really comes in contact with your business. So I would not be surprised if I pick up my head and a year from now you're at 50 units. I think you're going to blow this thing up, man. And especially you just know how to work this thing. So congrats on the success since jumping in on your own. But I'm going to give you a premature success golf clap over here because I know this thing's just going to blow up for you, man.
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Kevin Knight25:22
Yeah, and I appreciate it, man. And thanks to you too. I mean, you're an inspiration. I follow you, watch your videos. So keep doing what you're doing. You're inspiring a ton of people and it's giving back in this way. I mean, you're doing it to help people you might not ever meet. And so I think more people that are willing to take the knowledge we've learned and share it helps everybody out.
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Kyle25:45
I appreciate that, man. I really do. Any last words for our audience before we log off today?
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Kevin Knight25:50
No, I would just say wherever you're at in the process, I do a lot of this alone here. There are some very challenging times. I can speak as a multi-combat deployment veteran that there are days that I've had in this industry that I wish I was deployed somewhere dealing with something other than vacation rentals. If you're gonna hit challenges that you may have never faced before mentally, do what you need to do to stay mentally healthy. And if you're feeling like you're not, don't wait until it gets too bad. Seek out any type of communication with people. And anyone that wants to reach out to me at any time can. So just make sure you're taking care of yourself as well as owners, guests, and teammates.
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Kyle26:43
Awesome. Hey Kevin, thanks so much for joining us today and helping our audience to conquer the world of Airbnb. We appreciate you, man.
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Kevin Knight26:49
Absolutely. Have a good day.
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Kyle26:52
All right, check out the show notes, fearlesskyle.com forward slash Kevin Knight. Knight is like a knight in shining armor, starts with a K. And you can go ahead and check that out and see all the ways that he is helping people. As he mentioned, he's just really taking on a lot of owners and I know he's mainly in Big Bear right now. So if you're looking to own a house and to have it kind of as a vacation rental and do Airbnb when you're not there, well Kevin's your guy. But he's also expanding into other markets. So make sure you go ahead and get connected with him through our show notes again, fearlesskyle.com forward slash Kevin Knight. Thank you so much for joining us here on the Fearless Investor Podcast today. We're helping you to conquer the world of investing and today Airbnb talk. Talk to you next time.