How to start an Airbnb business?
Do you want to start a business where you are well paid?
You get to create beautiful, memorable experiences for people?
And you get to own some of the best real estate in the entire world?
Well, you probably want an Airbnb business.
So, let's talk about Airbnb's and the short-term rental market in general.
This is probably the best opportunity that exist in real estate right now.
I will tell you, I literally had over 42 rental properties.
When I first started in real estate investing, I started with wholesaling then I went to
fixing and flipping.
And then I got rental properties.
Eventually, I was able to amass enough rental properties with enough rental income to quit
my job.
It was awesome.
I had a lot of properties though and a lot of long-term tenants.
I would mostly do tenants that were in a properties for a year and they would pay me each month.
That was the business that I did and that was working well for me.
However, it was one of my students, this 18-year-old kid that changed my life.
He literally put me on to Airbnb.
He was one of my students and he asked me to invest about $8,000 so that he could rent
some apartments in the Florida area.
He told me that he was going to furnish them and put them on this new thing called Airbnb
and he could make more than 3 times what I was making on my rental properties.
I'll be honest with you.
At first, I didn't really believe him and I was very skeptical.
But I was very, very wrong.
After about 2 months, he was making nearly 1,000 to 1,500 dollars per month in profit
on each of those units.
And he had 5.
I couldn't believe it.
I was sold.
Eventually, I realize that I could start transitioning my portfolio from long-term rentals into short-term
rentals and make even more money per month than I was making with my rental properties.
Additionally, I didn't even have to own all of the properties to start making on them.
Boom!
This is life-changing.
And how you can do the exact same thing.
So, the big secret that I discovered is how many people are on Airbnb and how profitable
it can be to rent your properties on a nightly basis versus a monthly basis.
I had all of those rental properties and most of them did have mortgage on them.
So, let's just say for example the mortgage was $900, I had a tenant paying 1200 or 1300
dollars per month.
I was making about 3 or 4 hundred dollars profit property.
Now again, I'm just using round numbers.
But with Airbnb and renting it on a short-term basis, I realize that instead of renting if
for $1200 per month, I could rent properties out for $140 per night on a nightly basis.
Think about that for a second.
Even if I don't rent the property out off 30 days.
Say, I only rented out 3 weeks out of the year.
That's 21 days times $140 minus out the mortgage.
I was making nearly $2,000 per month on my property.
Especially now that I know how to get my occupancy rates up.
So, instead of renting the property for only 14 or 15 or even 21 nights per month, I am
now able to rent my properties 28, 29 days out of the 30 days.
And our income has skyrocketed.
So, not only am I making more per night, I'm also able to increase my occupancy and get
my rates up a lot faster than other people.
Additionally, that 18-year-old taught me something that I did not know before.
He taught me that I could actually rent properties and put them on Airbnb.
I'll tell you how to do that.
So, now that you understand the general concept of how to start an Airbnb business, remember,
there are more sites than just Airbnb.
There's HomeAway, there's Vacation Rental By Owner.
There's actually tons of sites including booking.com and so many others.
In fact, if you stay to the end, I'll give you an entire free booklet on how to do this.
So, the first step to starting an Airbnb business that you need to know is you're going to need
a property.
Now, like I said, you do not have to own a property in order to put it on Airbnb.
Now, of course, you're going to need the owner's permission to do so and you're going to have
to follow all of your local rules and regulations.
You can literally look them up.
I'm sorry, I don't know every single city.
And in some cities, you're correct, it is prohibited.
But in most cities' states, it is allowed.
So, just make sure that you check your local guidelines.
So now, let's talk about the properties.
Almost any type of property will work on Airbnb.
I literally used to think that you needed to have a property that was near the beach
or near..
You know, like this Caribbean island or something like that.
But that is absolutely not true.
I have Airbnbs now it Atlanta, Charlotte...
You know, we have some in Florida in pretty much every city.
We even have done Airbnbs in states that you wouldn't expect like Connecticut, Massachusetts,
Indiana.
Almost every states in the United States, okay?
And the thing is, it's so available because so many people are looking for Airbnbs and
people are moving away from the hotel situation.
Airbnbs allow people to stay in beautiful homes that will give them more space, they're
able to grocery shopping and save money on food.
They don't have to go to restaurants.
Families can bring all of their families and they're not couped up in a little hotel room.
And the price for a hotel room is about the same as an Airbnb.
So, think about this for a second.
Would you rather stay in a small hotel room or would you rather stay in a full home or
apartment or a condo?
The decision is actually pretty easy and now you can see why Airbnb is so popular.
So now let's talk about how you get your first Airbnb property.
Like I said, you can even take a property that you have ownership in.
If you own a property, you can literally transform your property into an Airbnb.
And actually, go stay with the friend for a weekend just to see how it works out for
you.
I literally have a student, she is a teacher.
And every single summer, she puts her properties on Airbnb.
And just the 6 weeks, she makes $7,000 profit on her property.
It's an amazing opportunity.
She goes and she stays with her mother, her child's grandmother.
And they spend their summer there.
And she rents her property out in Airbnb and makes $7,000.
Again, you do not have to own the property.
But if you have the property that you live in and you want to test this out, starting
with your own property is a great way to start on Airbnb.
If you don't have a property that you own, let's talk about how you can rent one and
do this legally.
If you want to lease a property, again, a property that you don't own and still put
it on Airbnb, there is a way.
let's start with what you're going to need to do before we get to the property itself.
So, go ahead and make sure that you set up a real business.
Go ahead, name your business.
Get an LLC or an S corp or a C corp.
Again, register it with a state.
Get a professional phone number, a professional email, an EIN number and a professional website.
Essentially, start a business on paper.
This will allow you to get into a loophole called corporate leases.
And that is where apartment complexes or private landlords will rent the property to your business
and then you can put those properties and your business's and then you can put the properties
out to your clients.
Now, there are some places of course that will not allow you to put them on Airbnb.
But if you have a business, it's a lot easier to have that conversation with them.
And we've can fence many different property owners to allow us to use their properties
and make profits on.
You can offer them things like you will guarantee the rent or you will split the profits with
them.
Or you will give them extra deposits.
There's tons of different ways to talk landlords and private owners and apartment complexes
into letting you have an Airbnb business with their property.
if you need help on what to say and how to present that, I've literally made an entire
video on how to approach property owners and I'll make sure to put a link below.
And you can watch that entire video which will give you the full script on what to say,
how to say it, and how to set this up.
But this is the amazing thing about it: If you start an actual Airbnb business, make
sure you set the business up legally.
This will protect you and offer you insurances in case something goes wrong.
Now that you have your properties and you're ready to go, let's talk about how will you
list the properties on Airbnb.
Here's the incredible thing: You literally can list properties on Airbnb absolutely free.
Did you know that?
It's a simple process of setting up an account to be a host because there's 2 different types
of people searching.
Obviously, there's guest that are traveling for vacation and work.
And then there are host.
People like me that have properties that guest can come stay at.
You will go ahead on Airbnb and you will set up a profile as a host.
You don't even need a property when you first set yourself up as a host.
Once you get your first property, all you need to do is go in there.
They will walk you through step by step how to list your property.
They'll give you suggestions on how much the price your property for.
You can put you calendar out there.
You can sync it with your phone.
And you literally can run your entire Airbnb business right from your phone.
You need to make sure you have someone to clean your properties and do little minor
maintenances in case anything happens.
Another awesome thing about Airbnb is they literally have an insurance policy.
I know some of you are thinking, "Oh, my gosh!
Well, what if someone comes there and they just destroy the property?"
Well, Airbnb actually makes a ton of money and they have million-dollar policies available,
okay?
So, for example, if someone came and they stole television or they broke your bed or
they did something terrible, you literally can file a claim with Airbnb and they will
reimburse.
It's very similar to an insurance claim.
You can read all about it on their website.
Additionally, I'm going to put a link below so that you can click and set up your Airbnb
profile absolutely free.
Okay, so now you got the entire process.
You know exactly how to start your very own Airbnb business.
Additionally, if you want more, you feel like you want an entire course, I made a very affordable
course that teaches you all of it.
It gives you all of my contracts, all of my scripts, all of my templates.
And I teach you exactly how I do it with or without owning properties.
Go to bnbriches.com and check out that course.
It's very affordable.
Additionally, I'm going to give you a coupon.
When you're at the check out, put in save50 and I will take half off of that course just
for you.
Again, I want to make sure that you have all of the resources, all of the tools, and all
of the knowledge that you need to be successful.
This is Noelle, to your success.