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How long does it take to grow an Airbnb management business?

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SUMMARY:

How long does it take to build an Airbnb management business? How can I reduce that time and reach my goals more quickly? Find out in this video!

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For the sake of this video, I will assume that you do not have any experience yet with Airbnb hosting or property management, like I was when I started my business.  

This video will talk about how long it takes, starting from scratch, to grow a business managing properties on Airbnb.  I will also share what you can do to reduce the time it takes for you to reach your goals.  

How long does it take? Short answer: it depends.  It varies from person to person and the level of systems that you have when you start out. 

If you are starting from scratch without any kind of mentorship or coach or resource, it WILL take a lot longer.  That is true of any venture.  That is not to say that you shouldn’t do it that way if you cannot justify the expense or have lots of time.

However, you’re going to be leaving money on the table.  In the time that you’re building and taking longer to do things, it is costing you in opportunities.  For me, I was able to do it quite quickly, but I ran my own service-based business for several years so I did have experience and connections in sales and marketing.  

We were able to grow very quickly after that, but there were a lot of growing pains associated with that.   I did not have the backend setup and I was not able to manage the properties efficiently and effectively.  I was also working about 80 hours a week and pouring all of my time into this business.

That level of growth at that speed is not typical.  Students in the BNB Mastery Program that we run typically bring on one or two properties per month.  So that means that, with our support and systems, you’re growing and basically adding between $700 and $2,000 per month to your monthly recurring income each month.  

If you’re building it yourself, I would say that you are looking at about 8 to 12 months if you are putting in a full-time system.  This is because if you’re doing it on your own, you have to learn  and implement different things. It is going to take you a couple months to learn how to get a client, as opposed to learning our proven system in a week.  

So, the best answer I can give to that question, “How long does it take?” is that it does depend on the systems you have in place, on the amount of time you have and the tools you have at your disposal. 

If you want to grow your business quickly and avoid making mistakes, then the best way is to learn from someone who has done it before.  I’m obviously biased about my program, but I have built my business and built it successfully.  We have also recently revamped and launched an entirely new version of the program after having over 400 students come through.  We have analyzed exactly where people could use more training and rebuilt our program.   I am confident that we have the best program for anyone looking to start a short-term rental property management business. 

If you want to learn more, then click the link above for our free training to get you started.  

Now, how can you drastically cut down your learning and growth time? This applies whether you work with me, or with someone else, or do it on your own.  

The secret is…CONSISTENCY.  The main difference between those that succeed and those that don’t is consistency.  You need to plug away at it.  If you work on your business in spurts, then you are going to lose your momentum just as you build it.   

That is why I recommend that if you are going to put time into your business and grow this business, then you need to put time into it consistently.  It does not have to be full-time hours, but it does need to be some time each day.

Consistency is the number one thing that you will need to build and maintain your momentum. You get that snowball effect by working that way.  It is like going to the gym – you go several times per week.  

Please like, share, or comment below and subscribe to see all of our videos. 

VIDEO TRANSCRIPT:

What's up guys, my name is James and welcome to today's video. In today's video, I want to talk to you about how long it takes to grow an Airbnb management business. Now for the sake of this video, I'm going to assume the people watching don't have experience yet with Airbnb hosting or property management. And you don't have any kind of background in this space, you're starting completely from scratch without any experience the same way, the idea when I was first starting out in my business managing properties on Airbnb. So I want to talk about how long it takes.

And I also in this video, want to share with you a couple things that you can do to drastically reduce the amount of time that it takes to get your first client and to grow your business to whatever your goal might be. Whether that's five properties, 10 properties, you know, $10,000 a month, $15,000 a month, whatever your goal is for the business.

So, the first thing I want to talk about is how long does it take? It's a pretty common question that I get asked and the answer is it very much depends. It varies from person to person, it varies based on the you know, level of systems that you're starting out with, what I can tell you is that if you're starting from scratch without any kind of mentorship without any kind of, of a resource to lean on any kind of a coach, any kind of a training program, it is going to take you a lot longer. And that's just true of everything.

That's not to say that you shouldn't do it that way. If you've got more time when you have money, and it's worth it to you to go and you can't justify the expense right now, for whatever reason, maybe you just don't have the money, you've got the time, then you can go ahead and spend the time it's just going to take you several more months, and you're probably going to be leaving some money on the table.

In the time that you're building and kind of just taking longer do things there's an opportunity cost to that. So I would say that for me personally, when I started out in the business to get our first property, I still was able to do it quite quickly. Now, that being said, I did have a background in service based businesses. I run my own service based business for several years prior so I did have experience in sales and marketing. I had some connections in the space, we're able to get our first client within about four weeks of starting up

And then we were able to grow actually, very quickly, we got to our first 30 listings after about 910 months managing properties. So we did grow quite quickly. But there were a lot of growing pains associated with that. The number one challenge for me personally, when I was growing the business was that we couldn't support the properties we were bringing on, because we were actually bringing them on too quickly.

I didn't have the backend system set up to be able to bring these properties on efficiently and effectively and get them set up the right way. Now, that being said, I also was working about 80 hours a week when I was getting started, right. And so I was constantly pouring all of my time, I didn't have another job, I was pouring all of my time into this, I'd really burned the ship, so to speak.

And this is my only option is do or die for me to make this business happen. get myself out of debt. And so I was really putting my all into it. And that's how quickly I was able to build it. Now. That's not to say that's typical. I tell the students that I work within the program and mastery program that we run, we're typically seeing people bring on about one property in month one or two properties a month.

Now I do have some students that have even been able to surpass my growth and grow even more quickly than I did give them they have the system starting out, and they were putting time into it, they're putting energy into it. And they were very effective with it very successful, they were able to grow very quickly. And we have some other clients that grow a little bit more slowly that take their time with it. But I would say that on average, we see about one to two properties a month as far as growth. And so numbers wise, if you're interested in that, you're looking at about 700 to 1200 dollars a month in management fees per property.

So that means you're growing at a rate you're basically adding about 700 to say $2,000 a month on average to your monthly recurring income each month. So if you're looking to get to a full time income of let's say, $8,000 a month and a six figure income, then you're looking at probably taking about four to six months to get there depending on your growth rate.

Right. And so doing that is obviously that's that's what I would expect for someone in the program. They've got our support. They've got our systems now. If you are going to be building it yourself, I highly recommend checking out all the other videos on this YouTube channel, you're going to be able to cut some time off your learning curve that way and do it for free. But otherwise, I would say that you're probably looking at about eight to 12 months, if you're putting in a full time energy.

Now most of my students that are getting to that growth rate of one to two properties a month are not doing it full time, they're putting part time energy into the program, in addition to another job, they have families, etc. But you're probably going to be looking at several months of full time work if not a year or more of full time work to get to a full time income. If you're figuring it out all on your own.

The thing you have to remember is that if you're doing it on your own, you've got to go and actually learn everything and then implement stuff, right? So you've got to go and spend, you know, it's gonna take you probably a couple months just to learn how to get a client. As opposed to doing that in a week when you can learn the proven system that already works. You're going to go and you're going to try different stuff.

And if you're on the right track, you're going to refine it, you're going to hone it and by about month two or three, you're probably going to have a pretty good idea of how to get clients, you're going to have that dialed in and you're going to be able to continue growing. So the best answer I can really give as far as how long it takes to grow a property management company managing other people's properties on Airbnb, is that it does depend, it really depends on the systems that you have.

It depends on the tools you have at your disposal, and depends on the amount of time and energy that you put into the business. If you want to grow your business quickly, you want to avoid opportunity cost, you know, missing out on opportunities, wasting your time, you want to avoid making mistakes, then obviously, just like anything, the best way to do that is to learn from someone who's already done it before. I'm obviously biased and thing that I have the best program out there in the entire world for this stuff.

But I do stand to reason that hey, you know, I've built this business, I built it very successfully. And then I built the program. I've just recently rebuilt the program. We just launched an entirely new version of the program that we've updated after having over 400 students come through it and me being able to analyze exactly where people are getting stuck where People could use more value where people could use more training. And then we rebuilt the program with all that in mind. So it's gone through several iterations now. And so I am quite confident saying that we have the best program in the entire world for anyone looking to start a property management business managing properties on short term rental and Airbnb.

If you're interested in learning more about that program and learning more about all the stuff that we do, then just click the link down below, you'll see there's a link to a free training on how to earn a full time income managing other people's properties. That training is completely free. We just put that together as well. All new, it's going to go into depth in a detail about exactly what it is that we do, how you can grow this business yourself all the steps he takes, really just even that alone is going to drastically shorten your learning curve.

So I hope this video has been valuable to you. I know that I wasn't able to give a specific answer that you might have been looking for. But I'm confident that if you want to grow this business and you really commit to it, that certainly within 12 months, you can have a full time income because I know from experience that students that I work with are able to achieve those Numbers, it just takes commitment.

Now, the last thing that I promised you was one thing I want to share with you that will drastically cut down your learning time and your growth time, no matter what, whether you're working with me whether you're working with someone else out there, or whether you're doing this completely on your own. The one secret to quick growth in anything, especially in business is consistency.

People often ask me, hey, James, what's the main difference that you see between your most successful students that you work with, and the ones that don't really achieve the greatest results? And my answer to that is always the same thing is always consistency. If you go and you put in a couple hours into your business right now, and then you wait a week and you put in a couple more hours and you wait a couple more days, and then you put a couple more hours, you sprinkle them in there, then what you're gonna have is you're gonna have really up and down growth, you're gonna get a little momentum, you're gonna wait and you're gonna lose it all. You're gonna get a little bit more momentum and then you're gonna lose it all.

And so even if we look at this in a really practical way to think about lead generation actually reaching out to property manager property owners whose properties you want to manage. If you reach out to them on Monday, and you don't check into your business again until Thursday, well, what if they got back to you on Tuesday? Now they've been waiting for two days, good, chances are, they're gone cold, you're not gonna have a hard time now setting up meetings with them. And so just by even just, you know, leaving a couple days without any action, you're now leaving a whole bunch of opportunity on the table.

That's why I recommend to people that if you're going to put time into the business, if you're going to grow any business, especially this one, you put in time consistently, now it doesn't have to be a full time, eight hours a day, five days a week, seven days a week, nothing like that. But what I am saying is that if you're gonna put five hours in a week, don't put five hours all in a day, put one hour in on Monday, one hour on Tuesday, one on Wednesday, one on Thursday, one on Friday.

Consistency is number one, it's going to help you to build momentum a lot more quickly. You can get that snowball effect, really get it rolling, get some momentum going. And number two, it's also just going to help you to build that muscle build that habit of working on your business. And it's not going to get put on the back burner that way. Same reason that people recommend that you go to the gym three times a week, four times a week, five times a week, as opposed to just taking a day off and going and working on working out in the gym the whole day, you're not going to get the same kind of result, even though you might be putting in technically the same inputs just spread out differently.

So that's my number one recommendation, no matter what you're doing, like I said, if you work with me, if you work with someone else out there, if you do this completely on your own and build a business on your own, then regardless of which path you take, my number one advice to if you want to shorten that amount of time that takes to be successful and really grow the business is to make sure you maintain consistency, consistency, consistency consistency.

So I hope this video has been really helpful to you. I hope you've gotten a lot from

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