Answering MORE of your Airbnb management questions

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What's up guys? It's James here and in today's video, I'm going to be answering more of your most common Airbnb management questions. I put together a video about a month or two ago on the channel answering some of the most common Airbnb management questions that I've gotten. And that video people seem to really like. So I'm putting together another one here with your commonly asked questions. I might continue this series and kind of answer a bunch of more questions in the future. So if you do have any other questions about managing other people's properties on Airbnb, then just let me know in the comment section down below, and I will likely answer them in another upcoming video. Also, just for anyone here watching that wants the full step by step process of exactly how to build a business and earn a full time income managing other people's properties on Airbnb, there is a free training that's linked in the description down below, that's going to give you all the training a bunch of tools to help you get started, really everything you need to start off on the right track completely free. So I highly recommend that you check that out. You don't want to miss it. So that being said, let's go ahead and jump right in. I've got my phone here with the questions, some of the most common questions I've been getting lately. And so again, just let me know in the comment section down below if you have any others. So one of the questions I get asked a lot is how do I get property owners to let me manage their properties? And I think I always I always kind of respond to this a little bit. I like to kind of reframe the question, because I don't like answering this question, because it's honestly just a bad question. And I'll explain why getting property owners to let you manage their property basically makes it sound like it kind of presupposes that there's no value in it for them, they're gonna they're letting you do this, where's really, you're letting them become a client just as much as they're letting you become their property manager. So it's a mutual agreement, and it's a mutual, mutually beneficial one. So really, is creating a win win. And so the better question is, how do I, you know, portray my value? How do I show my value to property owners so that they want me to manage their property, not just let me they actually want me to manage their property. And ultimately, this comes down to a framework that we have. So again, if you want the full, detailed framework, and there's a couple tools that we use in this process that's available in the free training link down below. But ultimately, there's a framework that we use for how do we number one, find the right property owners that are, you know, good fit for the offer that you want to create, specifically around property management? And then how do we communicate that value effectively communicate that offer effectively? Well, for that, we use a tool called the client conversion value deck. And that basically just kind of goes through and answers, it kind of highlights some of the common pain points that we know, these hosts are having these property owners are having, and shows our solution in a nutshell to that. So that makes it so the property owner can then sit there and see wow, yeah, that is actually a pain point that I have, that is a challenge that I faced with this property. And wow, they've actually got a really good solution to that. So that's step one is really just showing that value and showing how we can solve their problems. Because ultimately, that's what they're hiring us to do, right, they're hiring us to solve their problems to alleviate their pain points. And so a lot of that boils down to helping them to save time and helping them to make more money. So the ladder is one really cool thing, we've got a tool called the profitability projection tool that we can use to help project for the property or how much they could actually bring in with their property on short term rental under our management. And oftentimes, that's actually as much as they're bringing in now. But that means that you know, they're gonna make just as much money, but not have to do any of the work, or in a lot of cases, it's also actually more than they're bringing in now. So we can actually help them to increase their income while decreasing their time, which is just a huge win for them. So that's really kind of the the overall framework, and then we just need to have the right structure for you know, a client agreement, walk them through everything. But that's really kind of what it boils down to in a nutshell. And those are some of the tools that we use to accomplish that. So another question is, how long does it take to get the first property? That's a good question. And I get that a lot. And that really just depends on how much time and energy you're putting into your business. On a daily basis. My number one recommendation to people is to be as consistent as possible in your business and your inputs, especially with client outreach. And so what I've seen from working with over 600 students now helping them to grow their management businesses, is that the most consistent and most dedicated students can bring on their first property in as little as two weeks from starting, which, even to me is crazy, because even when I was getting started, it took me longer than that. But mind you, when students have a framework that they can follow, they've got a lot of the stuff figured out because they're working with me in the program. They don't have to kind of reinvent the wheel and do a bunch of trial and error, they can just jump right into it with the right systems, the right strategies. So in that case, you know, I've seen people do it oftentimes in as little as two weeks if they are really hustling. But more common more average is about four to six weeks. And that's kind of the expectation I like to set with people coming into the program working with us is, hey, you know, it's likely you're going to take about four to six weeks. It could take longer, it just depends right? Depends on how much time and energy you're putting into the program, how much time energy you're putting into your business. And then, you know, you could get lucky and you could get unlucky. But generally, it's going to be about four to six weeks is pretty safe, you know, maybe eight to 10 weeks if you go a little bit slower on things, but generally, we're looking at about four to six weeks, you know, two weeks being being pretty exceptional, honestly. And then what's your number one piece of advice for someone starting out actually just answered that guy in the in the past question there in the last one. And that number one piece of advice would be consistency. That's always the number one thing that I give people as pieces of advice, when they're starting their business or joining the program working with us is to stay consistent. What I've seen time and time and time, again, is that the person who is consistent is always going to beat out the person that's highly motivated, you know, that person that comes in and they hustle really hard, and then they end up just burning themselves out, I've found that it's way better to put in an hour a day, every single day than it is to put in, you know, five hours into your business and then step away from it for a bit and then put in another five hours, and then step away for a bit, and then you know, put in 10 hours, then step away for a bit longer, you're better off just going consistently. The reason for that is that your efforts are going to compound there's actually a whole section in our in our training and BNB Mastery program that kind of explains this relationship between your results over time versus your memory over time, I'm going to break down the logic of why consistency yields such incredible results, and why so many people fail to attribute their results that they're getting properly to the efforts that they're putting in. And that's why you know, for a whole bunch of reasons, that would take a lot longer to get into, you know, ultimately consistency breeds results, far better than just having a lot of energy going at it and then stopping and stepping away from it because you got burnt out and then waiting another week or two to start starting touch your business again. And just one quick example of this, honestly, that where this shows up in a really practical sense, is imagine you're reaching out to clients well, on day one of reaching out to clients, let's say you reach out to 10 people well, you know, and let's say you've got a 10% conversion rate on day one, that means that out of those 10 people, one person is going to respond, the next day, you're going to reach out to 10 people and one of them's going to respond, let's say but then you also might get a response from yesterday from the day before. Great, now you got two, and then you reach out the next day. And then you get one response from those 10 reach outs. But you also maybe get one from the day before. And maybe you get two from the day before that that are now reaching back to you. So if you had just put in the time all upfront, and then stepped away from your business, these people that are now reaching out to you will be left cold, they'll be left kind of high and dry left hanging. And so they're a lot more likely to go and find another solution their problems than they are to work with you. So you really want to stay consistent. And that's where you're going to get those compounding effects from the results from the efforts that you put in. So last question I've got here is why would a property owner pay me to do it for them? What value do I provide? And I kind of addressed this a bit in the last question there. But I want to go into this a bit deeper. Ultimately, the reason that a property owner is eager and willing to pay someone to manage the property is really just comes down to those two things time and money. And those are in my experience in any business, if you can give someone more time and you can help them make more money. That's a huge win. So for example, a b&b mastery program, it's been very successful for him, because I help people to save a bunch of time, they could start this business and shape literally months and years off of their timeline to getting results in their business to where they want it to be. And certainly I can help them make more money. Because, you know, if they're just starting out, and they're just getting into this, then I can help them to make 1000s of dollars a month very quickly compared to what they could do on their own. And that opportunity cost means that over their lifetime, they're gonna make a whole lot more money, they're gonna get more freedom. But really, those two things are the main things right time and money. And that's why I originally got started in managing properties on Airbnb, is because I identify that those two things are exceptionally valuable. And it becomes really, really easy to sell your product or service when you can deliver those two things to your customers. Beyond all else, if you look at you know, some of the most heavily marketed brands in the world, like for example, a Coca Cola, it requires all of this marketing because the offering is really not that incredible, right? It's just some fizzy drink that is going to give you less time here on planet Earth because it's bad for you, and certainly not going to make you any more money unless you're the ones selling it. Right. Whereas the some of the most valuable offers out there don't require a lot of marketing don't require a lot of persuasion because they can deliver such incredible value. That's just sort of a no brainer for the person. And oftentimes, you'll find that those things will get deliver on those two value points that time and money. And so with property management, we can help someone to save time, right? That's the number one thing is we can help to take all the time and energy out of how many manage this property for themselves. So those that time and energy would typically go into things like you know, communicating, gas, which oftentimes the property owners doing themselves, whereas we're going to outsource it. We don't have to replace their time with our time we can have our business take care of that, not us personally, it's always a distinction I like to make. But generally people are going to be doing that themselves, we can alleviate that challenge for them that time suck, you know, cleaning if they're not playing themselves, and they're going to be organizing their cleaners and scheduling them. So we can use software to do that, have our business solve that problem for them. So they don't have to spend time managing cleaners, managing maintenance is another one, again, we can have our team take care of that. So we can help them save time and all these areas that they otherwise would have to be putting their own time into. And again, people are busy people have lives, people that have the short term rental properties, it's usually almost always 99% of cases, it's not their full time gig, right, they've got a full time job, and they've got a family that they want to spend a lot of time with. So this is just a side thing they don't want to be spending their time on. And so if we can alleviate that time drain from them, that's hugely valuable. The other one is money. So we can help them to make more money, that's massive. And so anyone that's got their property on long term rental automatically, we can do that for them, right, we can help them to make more money on that property than what they would as a long term rental. So that becomes a total no brainer. Anyone that's on short term rental, we can almost always 95% of cases that I've come across, we can help them to improve performance enough that we at the very least offset our 20% management fee, because we didn't just increase performance by enough to offset that Vegas, you know, 95% of hosts just the nature of it, they're not performing as well as they could be. Otherwise, they wouldn't be in that they would be in the top 5%, not the bottom 95%. And so we can use the strategies that we teach in our training and that I've developed over years to really just ramp up performance. I've talked about it a bunch of different YouTube videos as well, the strategies and the tools that we use. So we can deploy all those things to help them improve their performance. And that's going to help them to completely offset the cost of management so that our service is essentially free for them. Or in a lot of cases, we can also help them make more money even after paying our management fee. So that even after paying for a management fee and getting our service essentially free, we're actually putting more money into their pocket each month as well. So those are really the main reasons that person is going to get to hire us to manage their property. There's a bunch of other kind of tailor things that we're going to do depending on your niche on the property owners you're working with. But those are the main reasons that a property owner is going to find our offer very, very valuable and want to work with us and pay us and give us money to do that. And that's all the questions that I have for today. If you have any other questions, let me know in the comment section down below. I'd love to answer them in another upcoming video. Be sure to check out the free training linked in the description down below. It's a really great in depth training it's going to help you to answer all these questions more in depth and more and really just give you kind of a step by step by step process of exactly how you start from zero experience zero money nothing just start from completely fresh to actually building a six figure income managing other people's properties on Airbnb without investing any of your own money into you know rent furniture buying places nothing so you can get this started get to six figures quickly. And then really just build a business that gives you freedom over your time spent time with your family, you know, travel, do things you want to so you can get rid of that nine to five, you can build an additional income. So again, that training is linked down below in the description and it'll also give you some free tools and resources to help get you started off on the right track. Now if you liked this video, if you got value from it, then please give it a thumbs up I try to make these videos as valuable as possible. And this is one that you guys seem to really like. So I'd love it if you could just give me a quick thumbs up just give me a quick like on the video hit that like button, it really helps me out tremendously. And also press that subscribe button make sure you subscribe to the channel. We post two new videos every single week on Tuesdays and Thursdays. So you'll want to be subscribed to the channel so you can stay up to date with that keep in the loop and keep learning about everything you need to know in order to be successful with Airbnb and short term rental. So that's all for today and I will see you in the next one.