Welcome back Airbnb family today
I'm going to teach you
how to talk a landlord in to letting you use their property to post an Airbnb so you can expand your rental arbitrage business
Let's get into it
Alright, so as you all know I've got about twenty-one properties active on Airbnb and I'm expanding ten more in Dallas this next week
So this is what I do for a living kind of it's one of my businesses
but I'm very successful at it and I'm going to talk to you about the two layouts and we're gonna focus on
The first layout so the first layout is if you have a single-family home owner a landlord who's got a few properties
Maybe he's got an 8 unit complex that he owns like a multi-unit property and you're dealing with the home owner or the property owner
As the decision maker on whether or not you can have a lease
The second is when you're dealing with larger properties that are professionally managed
You're not talking to the owner as the decision maker. There's of course different levels of management
You're going to talk to somebody else who doesn't have their ego in the game when negotiating for those larger properties
So the first one is the one that can be a little bit more difficult because obviously every landlord is different, right?
So you're gonna have to find a way to sell these people
so
First it's good to put a presentation together
It's good to have a pitch
Right, so I know a lot of you have asked for me to design a cold call script for you
But it really isn't just that simple. I can give you cold call guidelines
I'm kind of a layout to follow but giving you a verbatim script landlords will tell
That you're not being authentic and you are going to ruin that
Relationship and it's the relationship that's going to allow you to grow your business not some little script. So let's talk about guidelines
Okay. So first you need to understand that every homeowner has spent years and years and years buying their property
They may be offended at the idea that you want to come in and make rent on top of their rent when they worked so
Hard to get the building and you're just gonna do it so effortlessly
So you need to be sensitive to the fact that some people
This this is all that they've got it's a couple of homes and this is not just some easy thing for them
know that
Second we're gonna target homeowners that are not having a lot of success running out their properties
Because they're more open-minded because they need the money
for example
You can find out if a building has been on the market for rent for more than 60 days from some different
Sites, like Zillow com. I believe shows you how many days it's been listed and
Maybe even har does
There's a couple other rental websites and then of course if you're keeping track of things that you find on Craigslist, for example
You can see that that same listings been posted for a while. You obviously know that the person isn't getting a tenant so
Which brings me to my next point is know where to find your properties
So Craig's this is a great one because you're gonna see people posting on Craigslist
If they're willing to find a Craigslist tenant
they're much more likely to be cool with finding a
Professional on the Airbnb host because obviously Craigslist is a pretty shady place to find tenants
We all know that we still use it. Don't we so
Of course
You can then use Zillow har
You can talk to other real estate agents
who might be able to help you find landlords that are open-minded because remember real estate agents have
Relationships with these people real estate agents may become your best friend in your search for property
So now what are the positives to hosting somebody else's property?
These are things you need to have memorized and internalized so that way when you have a natural normal conversation not a scripted conversation
but just a normal one all this stuff can come out organically so
positives you
May be the last tenant they ever have the truth is is if you pick up a property like a four-bedroom house and you're crushing
It you're never gonna let that property go right you're gonna renew that at least
10-15 years it is your income property. Now - you are gonna take care of that property. So
That leads number two, which is that you're going to take care of the property. Literally if anything ever breaks that washer
baseboards anything at all
You're gonna jump to get that fixed because obviously air B&B guests will be upset if the photos don't match the place, right?
So you're not gonna let your Airbnb property degrade because that's going to be bad for your future business. So that's another thing
It's your professionally managed
actively managing this property and you're gonna put your heart into this and really care for the quality of your place a
Lot of tenants when a cabinet breaks. They just let it go
they'll live in the property for a couple years never talk about the things that are broken and when the person finally moves out the
Landlord is stuck with a bunch of surprises now
He's got to fix all these things before he can have another tenant come in and that is not what a landlord wants
That's downtime. It's bad for its business, right so
Also that's similar to the Third Point which is you're gonna keep the building in for sale condition
That means this building is going to always be perfectly clean and spotless and when there's a not there when there's not a guest there
Everything's gonna look ready for an open house. So the landlord never really has to worry about working with this tenant on
How his property's gonna look if he ever decides to sell that property, right? So these are three good reasons
now
additionally two is you can offer concessions like you can offer it a background check every tenant that comes in if he's gonna be or
She's gonna be a stickler
You can give a little bit of a profit share if you want maybe a slight premium on rent things like that also
Yeah, you can pretty much tell him if this goes well he can comfortably buy new property and you will pick up the lease
Right away
So this landlord can expand his or her business using you as a guaranteed tenant and now you guys can form a partnership
These are great reasons for a landlord to actually work with you. Okay, so
You want to internalize those facts so that way when you had those conversations already?
But it has to be organic and can't be scripted. So
Next of course. You start cold calling
Asking to meet with landlords to make presentations, you know don't give too much information too quickly
The goal is to build some rapport first and then use that rapport and that open-mindedness that you generated to then give your presentation
So when you call a landlord say hi. My name is Sean
I manage corporate housing company and we're looking to pick up some single-family homes for our corporate housing company
I would like to talk to you about your property
I would like to pick up your property for at least a year, and I have some questions for you
And of course, I want to give you more information about how my company works. So can I buy you lunch?
Take you for coffee. Let's talk about it. See how I did. This is kind like a soft clothes
I'd like to pitch you please in a
uncomfortable in a mutual area
So don't throw it all out on the phone because they can know you I mean you basically want to show up to this meeting
Dressed well well-prepared ready to kind of give information even a brochure or take some notes and try to show that you're this open-minded
careful responsible person because really you're
how you present yourself in this meeting will really define whether or not they think that you're like a fly-by-night company whether or not they
think you're truly professional and
They really can imagine doing business with you
A lot of times relationships with people who have a lot of ego in their businesses. This is their baby
They're gonna want to see themselves doing business with you. It's a small business thing
So take this prepare your pitch prepare your presentation. You can make a pitch deck if you want to have it on your phone
just some slides microsoft powerpoint style if you feel like you need to and
Try to get some referrals even if you don't have your own properties like your own landlords you work with try to find another
Airbnb host who's successfully working with single family home owners
And if you need that
Put it in the comments and I guarantee you a bunch of people on this channel will gladly share their referrals with you
Just leave it in the comments guys. Thank you for watching. Everything be automated. I will see you on the other side