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Ep 218: How to grow an airbnb business in 2022
03:00 – Like there’s no such thing as competition. It’s all collaboration and it’s also learning from each other. Even if you are the best at what you do. You can still learn something from someone, brand new.
07:32 – So, I guess what I want people to understand is that change can happen super quick. You can go from being an employee working in a day to day job getting paid minimal dollars, to all of a sudden never having to work again.
08:07 – Now folks, we will dive in deeper into what property management means in terms of the business model, and how it is different from the ownership or leasing a property, but started property management where I was leveraging fully furnished properties, looking after the day to day of those properties and charging a commission to the homeowners.
13:35 – So, I think that what we’re finding is that people watch themselves calm once the business is automated, and you can do that with short term rentals so that you can work from anywhere that there is a good WiFi signal.
16:31 – I don’t necessarily look at occupancy rates, I look at the gross revenue. I find that people are much more willing to spend a lot more money these days.
17:02 – People can work from anywhere. And when you can work from anywhere your value typically of what you can make goes up as well.
21:15 – So, folks if you’re listening in right now international travel is coming up. Think about where your visitors may be coming from and start thinking about catering towards the international market.
23:00 – When you get into the short term rental game, you don’t have to own property. You do not have to buy property you’ve got, you’ve got other options. And this is the beauty of this scenario. So for me, the way I was able to scale up very quickly was to use other people’s properties and to take on properties like a long term real estate agent like a leasing agent would when they would rent the property per month.
23:47 – So you take on the lease as a tenant to that property. And then you put that property on short term rentals and whatever the profit is, from your income to your expenses. That’s what you keep.
25:31 – I think arbitrage is a great portfolio builder. I think it is a great way that when you find a killer deal to say like oh my gosh, I gotta take advantage of this one.
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