there are gonna be times on this channel where you see me bragging right about
everything that's going well. do this my way, this is awesome, forty five
properties, hundred thousand dollars a month, whammo ..then there's gonna be
other times like this today I'm talking to you about not cutting corners the
consequences of cutting corners how to prevent cutting corners and let
me tell you a couple stories of what we're dealing with months in to some
corner cutting so first story we have eight units that we picked up at this
high-rise guest misbehaved in July fourth of July I got drunk stupid stuff
happened they asked us to stop hosting on Airbnb right we had to move those
eight units somewhere else so rapidly we found eight more places to put our
furniture that forty thousand dollars we invested in furniture we moved it got
everything set up and lodged it was like a 10-day ordeal trying to get it all
fixed and reactivated we spent a lot of money on those eight units we want to
get them back into play right away well we cut a corner and the corner we cut
was is that from going to studios we went into six different one bedrooms in
two bedrooms and we set the furniture all up and the furniture just wasn't
right for the place and the reason why is because as the layouts were bigger so
you probably should have bought a different couch or you know different
size area rugs or different size TVs instead of wall mounting the TV there's
more space you might want to have a TV stand because it takes up more of the
room things like that the art should change because the Lighting's different
all sorts of things you might need more lamps because there's less windows these
are things that that should have been considered when we moved but we were
just in such a hurry to reactivate that we decided not to really think about
that and just try to work with what we had and just identical furniture
identical layouts but in unidentified Accor nur made things look just a little
bit off right so these new units they just didn't seem quite right the units
are great overall but they just need more furniture and fixtures we decided
let's post these properties just to get some revenue generated because we put so
much money into the project and we'll come back to it later
and fix these as we go that was mid July right it's mid September two months
later and were still trying to finish these units we're still
trying to get these bedrooms redone these living rooms completed and in the
meantime it's just been in the back of her brains as something to do
it's annoyed guests when things just aren't picture-perfect right and so they
may not complain to you when they arrive right but they could be a little
disappointed that it's not got the boat like the pizzazz that you would want
from your listing so we learned the hard way over the course of the last two
months so we did something that took a lot of discipline and sacrifice this
last week so we're setting up eight apartments in three cities six are new
to our moves and we're doing this all at the same time so cats got to handle this
new 2-bedroom in Houston I'm trying to feel these two and Fort Worth why me and
Demi my new executive assistant were handling these five in the northeast
side of Dallas we're trying to get them all done same weekend absolutely wild
it's been a show the five we're doing in the north side of Dallas
we ordered everything on Amazon primer from our wholesaler our wholesaler is
awesome so he's cool but Amazon Prime is just known to have delays or forget to
do shipments or something right so we were planning we signed three leases on
the 31st two leases on the eighth the goal was to have two of the three done
by the fifth and use the third is storage for the extra stuff when the
eighth comes around and then finish all three and be done by the tenth didn't
happen so we get three of them done on the 13th fourth done on the 14th and
then finally yesterday we get the fifth one done this is like a five day delay
and we did not post even though we were like 95% done with these properties we
did not create the listings and say hey you can come in today and like we're
gonna sneak in on the back end and finish last couple of things we held our
ground and said quality enforced we are finishing these listings before we set
them up right at the cost of our daily rents which is kind of like roughly
probably a two hundred and twenty two hundred fifty dollars a day for five
apartments per day we're sitting on them on principle because we learned our
lesson on our last building so what I want you to take away from this is it'll
cost you way more money than the two hundred fifty dollars a day for five
days it's 12 under bucks right it'll cost you way
more than that 1200 bucks later when you have forced our guest reviews instead of
five-star guest reviews when a guest decides that they don't want to stay as
long and they ask the resort like change the reservation lengths down a little
bit something like that where your permanent reputation with the guests
that you just had them stayed they they are not gonna come back and book with
you maybe because they weren't like floored by how awesome you are and
there's a lot of great hosts out there tons of hosts set with their one or two
properties want to be super hosts because they are quality driven all the
way right that's how most hosts are individuals with an individual property
and they can afford it like that bye for today mentally afford to be quality
driven you're competing with those people largely so if you want people to
come back you have to do a great job by not doing a great job and letting things
be semi and complete even if it's a small things like hey the washing
machine should be fixed before somebody moves in or we need a couple more chairs
for the table or the arts not up completely or we wanted to paint this
wall of different colors to make it pop do that stuff first because by not doing
that stuff and not having the quality listing that you would require from
yourselves in a perfect scenario you will lose more money by lack of SEO
having to drop your price when you're listing less total occupancy stuff like
that it'll cost you more than the five days that your place wasn't listed yeah
who'd have thought right so also for those of you still watching this I'm
gonna give you the control here's the steering wheel on this I'm trying to
decide what next video I want to do in that next video I'm gonna give you kind
of a deeper look into like something we'd cover in the course that we're
working on so I'm gonna do not normally these videos touch on a subject give you
a good concept maybe we go into some details right but we never really do a
deep dive so two topics you can choose which one I'm gonna dedicate a good
chunk of time to on an upcoming video it could be cleaning protocol strategy
like even a bullet point inspection list like what people should be doing when
they clean or pricing strategy which is something that of course I'm like all
about nerding out on numbers and I've got some other stuff but we can do a
deep dive on pricing strategy so you choose would you like me to teach how to
manage cleaners hire cleaners protocol or talk to you about how I'm
running a $100,000 plus per month Airbnb portfolio and of course working
with the pricing on all of my listings across the board so leave that vote in
the comments all right I want you to comment for me and while you're added
you can also include requests for other video content if you have questions on
this you want me to confess more of my failures that's what I'm here for guys I
actually have fun doing this and as much as I'd like to always be right you can't
be right we are business owners we're growing we're learning and that that
iterative process of being an entrepreneur and trying new things that
hold Thomas Edison thing you're going to get some stuff wrong you're going to
make some mistakes but you know that's what it takes sometimes so thank you for
watching Airbnb automated and I will see you on the other side