I’m talking about Airbnb hosting with my guest, Brian Page. Brian has a company called bnb Formula. Several of my students have turned lease option deals into Airbnbs.
I ran into Brian on a plane recently and we had the entire flight to catch up with each other. We’re going to do a webinar soon about how to use Airbnb with your real estate investments.
Brian lives in Charleston, SC. where he’s been in real estate investing for a while. He’s done flips, wholesaling and some construction. As fate would have it, he lost most everything in the 2008 downturn.
Brian got the idea for Airbnb while chatting with on guy a plane. He didn’t want to buy property, so the man on the plane recommended renting properties and putting them on Airbnb.
His first rental property brought in $1600 net the first month… more than he was making on 4-plexes when he had them. So he began to add rentals as he could. Soon other people heard about it and asked him to teach them.
The number of people signing up to use Airbnb for the 1sttime far exceeds the number of hosts and 75% of listings are outside the United States.
Successful hosts do not need to be in a tourist-oriented town—Brian has students in all 50 states. Think of how many hotels are along the highway… people obviously need places to stay short-term.
Home sharing is hot! People are renting out trailers, houses in the suburbs and in rural areas. The owner you’re renting from has to approve the Airbnb usage. You insure the property, you have it cleaned, etc.
Some owners will not let you maintain an Airbnb, but you can find enough that will. There’s no shortage of supply of rentals out there.
Brian recommends you get a signed agreement with the owner and teaches a system for managing a number of Airbnb properties. If you put systems to it, you don’t have to spend a lot of time ‘at work’.
Listen and learn:
- Any place you can rent to a standard renter, you can rent to a short-term visitor on Airbnb.
- You don’t have to have guests 30 days a month as long as pricing is right.
- Guests are considerably easier on a property than tenants.
- 92% of markets allow short-term rentals.
Mentioned in this episode:
- Joe’s podcasts on iTunes: Real Estate Investing Mastery Podcast
- Brian’s Webinar: How I Earned 6 Figures In 6 Months On Airbnb™… Using Other People’s Properties
- Brian’s audiobook: How to Earn Six Figures in Six Months with Airbnb
- Book recommendation: The Airbnb Story
- Brian’s website: bnbformula.com
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