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I still remember the first time I heard about AirBnB. It was 2014 and I had just been approved to buy my first home. As soon as I started the home buying process, I realized that there were all of these fees that no one tells you about!
Home inspections, points on the loan, the appraisal! Holy cow! I ended up spending about $4,000 more than expected. I needed to make that money back… and quick!
I told my friend about my dillema and he said, “AirBnB a room in the house!”
I had no idea what he was talking about. When I asked for clarity, he said:
“Yeah, you just rent a room out on this site called AirBnB. Sometimes people stay for 1 night, sometimes they stay for months!”
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Analyze your AirBnB deals with the Fearless Flipping AirBnB Deal Analyzer! Simply plug in the numbers and see what you could potentially make!
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My response: “Dude, that sounds sketch.”
His confident reply was: “Sketchy or not, I just made $7K in the last 5 months renting a room out of my apartment in Vegas.”
That was all I needed to hear! I was sold.
Fast forward a few years later, and I’m making well into the 6 figures with AirBnB!
How am I doing it? Keep reading…
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AirBnB Host Tips
I attribute most of my AirBnB success to three simple formulas.
M.A.S.S. Business Model:
Master – No matter what business you are doing. You have to learn and master the art of that business. In AirBnB, I had to master a lot!
Automate – Once I had the process down. I looked for ways to automate literally everything! How could I remove myself from the equation, and still have a successfully running business?
Simply Scale – Once I had everything automated with two listings, that gave me the confidence to scale! I went from 1 listing to 20+ in a matter of 16 months! Each listing was netting me about $1K!
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3 Keys to a Launch an AirBnB
My next formula is one that I follow for all of my AirBnBs.
Watch this video for in-depth training on this formula.
Simply put, here are the 3 keys:
- Location. The location for both traffic and safety matter. AirBnB won’t work just anywhere, but it will work in more places than you think.
- Listing. The presentation of your listing is so important. Take this for granted and you could be losing out on thousands of dollars.
- Systems. If you don’t have systems in place, then you are creating a full-time job that will pay you a part time-wage.
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How to Rental Arbitrage
The last formula that I have mastered is one that I have coined the OPP system. AKA: Other People’s Properties.
In AirBnB you can create an entire business based around using other people’s properties!
When I learned this, it completely blew the lid off of what I thought was possible with AirBnB.
Of my 20+ listings that I operate, I only own four of them.
I learned how to get really good at convincing landlords and property management companies to let me sublet and/or manage their homes.
This in itself is a total art. And one that I cannot teach here. But I will show you how you can learn this strategy if you read until the end!
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AirBnB Host Fees
Now that you understand the basics, let’s talk about some of the minor details.
First, host fees. I always get the question “How much does AirBnB take from you?”
Answer: Only 3%
That’s it!
“But don’t you have to pay for cleaning fees?”
Answer: Nope! You charge the guest the cleaning fee!
What else can I charge as a fee to my guest?
Answer: A lot!
- Standard fee
- Resort fee
- Management fee
- Extra guest fee
- Service fee
- And more!
AirBnB Host Guarantee
One of my favorite thingsa about AirBnB is their host guarantee. It can help you get out of almost any difficult situation.
Take for example my friend Noah. Noah is a host of 25 listings in California and Nevada combined. One day, Noah found out that one of his listings in California got robbed blind! Not a single piece of furniture, linen, or fork was left in the house.
This is every host’s worst nightmare, right? Especially since he had someone moving in next week for an entire month!
Well, the AirBnB host guarantee refunded him within days for the full price of the furniture and he was able to use that refund to go buy all new furniture to restock the place in time for the month-long guest!
Obviously, it sucks to deal with this, but AirBnB has your back!
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AirBnB Co-Host
As you can see, there is a lot to learn and manage in AirBnB. But, this creates a great opportunity for you and others!
As I mentioned earlier, you should be looking to automate everything! The easiest way to do this is by hiring a co-host.
You can hire a virtual assistant, but I suggest hiring someone local who is willing to work cheap and has flexible availability. Stay-at-home mom’s fit best into this category.
You can have your co-host do all of the communication with your guests, and you can even hire them to manage your properties.
Or, you yourself can become a co-host. You can advertise yourself as an AirBnB expert manager and you can start co-hosting with hosts who don’t want to deal with the headaches of communicating with guests and managing a listing.
This is how I have grown my business so quickly.
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Become an AirBnB Host… NOW!
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This is entirely a 5,000 foot overview. There is so much more to learn, understand, and master. Join our Facebook Group called AirBnB Masterminds to ask your questions to me and other AirBnB experts. Click here to join the Facebook group.
[/et_pb_text][/et_pb_column][et_pb_column type=”1_2″ _builder_version=”3.26.6″][et_pb_image src=”https://www.fearlesskyle.com/wp-content/uploads/2020/11/AirBnB-Kickstart-Jpeg.png” url=”https://thebnbmasterclass.com/kickstart-course?utm_source=kyle_stanley&utm_medium=referral&utm_campaign=kickstart_course_full_price” url_new_window=”on” _builder_version=”4.4.1″][/et_pb_image][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”3.26.6″ custom_padding=”0px|||||”][et_pb_column type=”4_4″ _builder_version=”3.26.6″][et_pb_text _builder_version=”4.4.1″ custom_margin=”-20px|||||” hover_enabled=”0″]So, do you think you can do this on your own? If so, more power to you!
But if you are ready to invest in yourself, learn the easy way, and avoid the mistakes… then download our AirBnB Kickstart Course!
Take a look at the students who have already had great results below!
When you are ready, just click the “Register Now” button below[/et_pb_text][et_pb_button button_url=”https://bit.ly/6ffinfopage” url_new_window=”on” button_text=”register now” button_alignment=”center” _builder_version=”4.4.1″ custom_button=”on” button_text_size=”32px” button_text_color=”#000000″ button_bg_color=”#ffcd00″ button_border_width=”5px” button_border_radius=”33px” hover_enabled=”0″ box_shadow_style=”preset1″ box_shadow_color=”#262a23″][/et_pb_button][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”4.4.1″ min_height=”37px” custom_padding=”0px||9px|||”][et_pb_column type=”4_4″ _builder_version=”4.4.1″][et_pb_text _builder_version=”4.4.1″ custom_margin=”12px|||||”]
Testimonials – AirBnB Kickstart Course
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