STEP 1: Start an LLC STEP 2: Conduct Market Research STEP 3: Replicate the highest performers in the market STEP 4: Plan Your Growth Strategy - Several smaller units vs One House STEP 5: Have a powerful sales script and negotiation options prepared (if you'll be renting your property) STEP 6: Furnish your AirBnB, get professional photos taken of your place, and list your unit ASAP
Based on the video transcript, here are the steps and subtasks the speaker provides for starting an Airbnb business: 1. **Form a Business** - File a single member LLC online in any state. - Do business through that business. 2. **Market Research** - Choose where you want to start an Airbnb business. - Understand your hometown better than any other business. - Understand customer types and their preferences. - Look for areas where there is a lack of hosts or where listings are always getting booked. - Determine the right size property in the right neighborhood. 3. **Competitor Research** - Look at listings that have a lot of reviews. - Analyze the photos, description, price, and minimum night stay of these listings. - Make a profile of 10 total listings in the area and determine why people like these listings. 4. **Copy the Market Leaders** - Find a type of product that is commonly getting purchased and copy them. - Understand that most markets are still under serviced. 5. **Choose the Type of Property** - Smaller properties will cost less money to start but make less total revenue. - Larger properties cost more money to start but the amount of cleanings to run your business will be less. - Make your business plan today to get a lot of smaller properties over a period of time. 6. **Investment** - Spend about $5,000 to $7,000 per studio and add about $2,000 per bedroom from there. - Aim to earn your money back within four months. 7. **Negotiate with Landlords** - Learn to sell and learn to negotiate. - Convince a landlord to allow you to Airbnb and give you two months of rent for free on the front end. 8. **Staging the Place** - Set a budget for your staging based on how well you want your place to look. - Buy the furniture, set it up, and take photos. - Make sure you don't go over budget and don't spend too much time setting it up. 9. **Join a Community** - Join a Facebook group or other community to learn more and ask questions. Remember, these steps are based on the speaker's experience and may not be applicable to every situation. Always do your own research and consider seeking advice from professionals or experienced hosts.
Hmmm maybe you know about arbitration but you don’t know the legal reasons and formal rules for forming a formal business entity and being in compliance with state laws. A foreign company cannot operate and conduct business in Texas without registering with Texas. Best to just form an LLC or Series LLC in the state you are operating the business.
Wow! This handsome gentleman is the first one that explains right to the point valuable information about the Airbnb business!👏 Thank you for your transparency and for sharing your thoughts and experiences 🙏 ❤️ I truly appreciate it!
I agree with you 100 % Some are asking for this ridiculous and insulting amount of money!🙄😵💫😵😒 Then you find out that they lie to you! I think this gentleman is angel! 😇
Super blessed and exciting to see my fb post on your RU-vid, will never forget the days I was contemplating on starting and never did. Picked up that phone and I’m finally here on the other side with you sean🙏🏾
He looks like the cousin of the guys from night at the Roxbury. Also great, straight-forward advice based on solid principles of paying it forward. I really appreciate this.
We just bought a small house to AirBnb in Big Bear do you still recommend leather or fake leather sofas, also you mentioned getting light blue sheets instead of white are beige ones also a good choice?
Sean, I have started with the long game you mention at the end of this video. For the first 6 months, the owner paid for the home renovations and now I have taken over further renovation costs, bills etc Which of your videos would you recommend I watch to help me get this Airbnb house and my business to the next level?
Sean here is the info and how do i proceed ? Live in a hot market CDA idaho hosts an Ironman ,and playground for wealthy fishing etc...I myself am a small contractor ..recently backed by my uncle bought 3 homes in the area.1 i was able to remodel and is now picture perfect all upgraded new everything .two others have renters in and i have done small repairs too.would your team want to Airbnb it?im tired of full time renters i have stuff to build and not a maintance man . remodel and repairs is what im great at and enjoy but id like to make money of uncles properties other than the remodel he would accept anything as he is out of state and nobody wants to be the rental agent in the family nor real estate agent small group here.
Thank's for this vedio ❤️ Sean, Soon this ber months, I will start my own Airbnb business at the low-rise condominiums here in Ortigas, Quezon city, Philippines 🇵🇭😊 I hope I will be successful to this very nice business
Hi Sean, So my wife and I will be investing in houses in the Orlando, FL area come the end of summer. Regarding the LLC's.... So I would want one LLC to represent the business ( lets' say K.A.S. Properties LLC ) and then a second LLC to represent the property ( 123 Florida Way LLC )? Does that sound about right? I've also learned about having each individual property in it's own separate revocable TRUST. This way, God forbid, a guest sues you, they can only sue THAT property, and not find through "discovery" that you own MULTIPLE properties and try to sue for more money. Am I correct in that assumption? Thanks
So in order to list someone else’s property, you basically have to rent it yourself and fully furnish it yourself, so you’ll need thousands of dollars to invest in this business just like any other business?
Yes exactly Any business with a startup cost under $10k is a low barrier to entry business. If you need to find a way to save up $6000 to start. Get into sales, find a business partner, work on your credit to get a small loan.
Hi Sean I love the videos thank you for all that you do. I apologize if you answer this question in a later video.. But I was wondering how do you go about opening up an llc specifically to hold leases and would that business hire on the operating LLC to manage those leases? I opened up up an llc for short term rental/lodging.
Great information, you give it straight and to the Point. I bought Brian Page's coaching course a little over 3 months ago and I feel lost. How is your course different?
I just started and I am running into very high rent in my city, mayne landlords are changing 2000 or more for a 2 bedroom apartment if I chage $179 per night to be competitive and I get 50% of the month booked thats only $2685 so after all utilities I pretty much lose money, any suggestions on what I can do? Yes I can chage more max I could charge would be $189 i am in halifax nova scotia Canada
hello, i loved the video thank you Sean! I'm just starting out...... i already have a c corp would you recommend a llc only ? my question is how do you go about finding a owner to want to do a airbnb and what amput of money do you offer him and all that ?
HI Sean, thanks for your content. I was looking at your AirBnB profile and observed that you have 26 listings there. Can you talk about where the remaining 80 or so are listed? Do you use multiple accounts? Thanks
I am just grateful a multi millionaire has time to help others, not watching the whole video but guessing he will eventually be selling something,,,,if it sounds too good......
So I’m under but don’t understand the 2 LLC will it be the same name ? When you say one for the guest and one for the leasing . Do you mean if you have any issues with guest they take it up with that LLC and if when have issues with the leasing offices they’ll take it up with the other I hope I’m making sense. Thanks
I have a 3 bedroom flat , in that block of flats (5 flats),,, but in the other 4 flats 4 families live,with children& youngsters, I don't know if they will object to strangers coming and going, etc!
This video was God sent! I’ve been wanting to get into the business for awhile and this was extremely useful information. I appreciate you sharing this information. I look forward to learning more! God bless you!
Hi Sean! I’m in a Realtor in Dallas looking to start with my first property. I actually live in one of the buildings in your photo background on this video. Lol I have a unit I’m looking to put on the platform here soon. Do you offer any in person training/consultations?
Thanks for this video! I want to do this under my business name. Is it possible to do that if the business is only a month or two old? And do I need to build up business credit first. Is that ok?
I thank you for all this info I bought my house 3 years ago good tourist area Poconos Pennsylvania , Now I’m interested to covert to Airbnb where do I begin ?
hi Sean, i live in Myrtle beach and work for a property managment company with around 60 beach front condo highrises and have hundreds of units and owners constantly asking me if i know any cleaners or peaple looking to rent and i would really like to get into renting these units for them but dont know where to start
I’m here.. and I will be starting soon! Been watching all your videos.. and I’m taking notes.. I was working a temp job and I’m tired of it! Those jobs end the contract and don’t even tell you.. I need to be financially stable.. I wanna make money and not have to worry about not having any..
Great video I just started in late December early January onto my second guess he rented from February until December 2022 help wanted to join the groups
Hi Sean, can I seek your advice on handling an incident with Airbnb please? I had a guest who stayed with us on a monthly rental through Abnb and continued to renew their stay for two years in total and continued to remit payment normally. Upon their last attempt to renew (after already staying and paying for 2 year's worth of stay), Anbn unilaterally cancelled the reservation and disallowed further stay by the guest, without informing neither me or the guest the reason. So the guest left, I moved on and turned the unit into a normal tenant long term rental instead. This year I started putting the unit on Abnb again but noticed I have not gotten paid for several completed reservations. Upon inquiring, Abnb informed me that I owe them back $41k related to that reservation (that lasted 2 years) which THEY cancelled on me and the guest. I can't seem to make any of the support reps at Abnb understand why I shouldn't owe them any money at all - I merely provided a service for 2 years and got paid for the duration of the stay up to the point that the guest was kicked out with no explanation, and that was it. (They were perfect guests btw.) How can I proceed further in the attempt to continue hosting and get paid for current reservations? Much appreciated!
Trying to start doing this but what is a good price range of rent to stay near when finding your first arbitrage rental property? Also any tips on negotiating free rent when first starting? Thanks
This distinction affects less than 2% of all available properties in the USA. And that percentage becomes way way smaller in almost every other country in the world. So that distinction is so small that it doesn’t warrant disclosure
Hey this is like the 3rd video I’ve commented on and have yet to get a response. I am interested in getting started In Airbnb arbitrage, but have yet to get my question answered. I’ve been wondering whether rent typically goes up for your apartment and the surrounding apartments when you mention you do airbnb
No. We negotiate lower rent and free rent for two months up front: But it would depend on how you approach the landlord. If you seem desperate or naive a landlord may ask for more rent
@Airbnb Automated gotcha, I’ve just been on the fence due to that because I don’t want the rent in other apartments to increase as well. I appreciate all the content you put out by the way, currently taking your free course!
Oh shit minute 3 and now it clicked what rental airbitrage is. I thought it's about buying Airbnb's for a week and renting it for more and I was like what why? But now I see it's about renting a house for a month or so and then giving it out for people.
