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Ep 140: How to talk to landlords about AirBnB arbitrage
05:51 – First of all is a mindset that you’re going to be setting up meetings, building relationships, and you need to be professional about it.
06:15 – When you’re looking at leads and you are calling landlords, your goal is not to tell them what you’re doing, but your goal is to tell them that you would like to see the place.
07:02 – What you are really going to do with these landlords is your gonna speak to their pain points. Most common pain points are collecting rent on time, getting calls about minor issues, dealing with difficult personalities, and lastly fixing properties on the turnovers.
09:23 – When you bring up the problem and you identify that these are problems for them, now you can be the solution. That is what sales is. It’s just providing solutions to common problems.
09:57 – When you have constructive conversations and you identify issues and how you can be a problem solver, that’s the perfect sale right there.
14:32 – One of the common objections of the landlords was how you keep partiers out. My answer is that I have a very strict pre-qualifications process that I put in all of my tenants through.
15:00 – You need to be able to confidently tell the landlords that you just don’t get issues with partiers because you make sure that you know what the reason is that they are coming.
16:16 – The other objection as landlords is how they are protected. This is usually an insurance question, but I will tell them that they’re gonna be covered by 3 forms of insurance.
17:01 – We also have this thing called the airbnb host guarantee. It’s a million dollars of damage and liability insurance that if someone gets hurt on the property, if someone steals it or burns it down, you are covered with million dollars worth of insurance as long as we prove that it was the guest that was there.
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