Charlotte Angel Connection Episode 082: Emir Dukic and James Strong, Co-Founders of Rabbu

Emir Dukic purchased a home with a detached garage. He wanted a man cave but his wife thought differently. Naturally, the man cave lost and as a result the seed for Rabbu was born. The alternative was to rent it out through Airbnb and it didn't take long for them to realize the power of Airbnb and passive income. The room above their garage was essentially paying their mortgage. Rather than purchasing new properties, they negotiated with existing property owners to rent their property and turn them into Airbnb rentals as well - essentially collecting a rent arbitrage through short-term rentals. Two things became apparent: (1) it was a highly profitable business model and (2) it was taking a lot of work. Having worked with Mac Lackey at Kyck, Emir knew he needed technology to scale the business so he formally brought on his co-founder, James Strong who also worked at Kyck, and the tech and development efforts have gone full steam ahead since then. Fast-forward and they are fresh off raising $1.5 million from investors to ramp up their efforts and quickly grow the business. Today we are fortunate to have both Emir and James on the podcast so we dive into the business, the technology and their backgrounds. From there we leap into what opportunities lie ahead for a company with the wind at its back and plenty of road ahead. Local Note and Thoughts: The Charlotte Angel Connection's next quarterly event is scheduled for February 27 from 5:30pm to 8pm. John Cambier and Lister Delgado from IDEA Fund Partners will be in Charlotte to do an on-stage Partner Pitch (the pitch will be from 6:30 to 7:30pm) with Alex Smereczniak from 2ULaundry. Come see the process of professional investors as they work through a due diligence process with a strong founder. Click here to register and join us for what I hope will become an annual event. Also SeedSpark – a technology and digital solutions company – is going to sponsor our first ever Entrepreneur Date Night Award.  We will have the startups in attendance (demo tables) vote on the entrepreneur they think is most worthy of a $100 gift certificate to a Charlotte area restaurant. It’s a small token to the countless spousal/significant dinners founders must give up as they bring their projects to life. Dan Roselli and Packard Place are continuing to build their Public House/Keg-Side Chat event. They are having Ryan Stone join them on Wednesday February 20. Ryan is the President, a Director, and co-founder of SmartSky Networks, a private-equity backed company that will be the first to provide 4G LTE-based wireless connectivity to business jets and airlines. QC Fintech is also in the process of interviewing for their spring class and after speaking with Dan recently they are seeing some really good companies.  Be on the lookout for announcements for the spring class and the opportunities you will have to meet them and ultimately support them as they come to Charlotte for 12 weeks to incubate their ideas and companies. William Bissett is an Investment Advisor Representative with Secrest Blakey & Associates, a Registered Investment Adviser. Registration does not imply a certain level of skill or training. Opinions expressed on this program do not necessarily reflect those of Secrest Blakey & Associates. The topics discussed and opinions given are not intended to address the specific needs of any listener.  Secrest Blakey & Associates does not offer legal or tax advice, listeners are encouraged to discuss their financial needs with the appropriate professional regarding your individual circumstance.  Investments described herein may be speculative and may involve a substantial risk of loss. Interests may be offered only to persons who qualify as accredited investors under the Securities Act, and a Qualified Purchaser as defined in Section 2(a)(51)(A) under the Company Act or an eligible employee of the management company.