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How much money can you make on Airbnb?

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SUMMARY:

How much money can you make managing other people’s properties on Airbnb? Find out in this video and how you can scale up your Airbnb property management business. 

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I am going to show you a bird’s eye view of how much you can reasonably expect to earn managing properties on Airbnb and what strategies you can use to accomplish your goals. That is not to say that you won’t need to put in effort, but how can you run your business without any wasted effort? 

As with most businesses, the sky is really the limit with how much you can earn on Airbnb managing properties. There are billion dollar businesses that have been built managing properties on Airbnb. What I think is a lot more reasonable for most people to expect is to get anywhere in the range of $10,000 to $30,000 a month.  That is not going to happen overnight, but I think it is quite reasonable for the average person to get to that point without taking on any absurd amounts of debt.   

My real big stance on this is that you should not manage any properties that are earning you less than $700 a month.  What I have talked about before is using a management fee model to manage properties, which essentially means that you’re managing properties for other people for 20% of the revenue. 20% is standard. Some markets are more than that, but I recommend never dropping below 20%. 

I recommend making sure that 20% never equals less than $700 a month, which means looking for properties that earn $3,500 to $4,000 per month you’ll be able to earn between $700 and $900 per month in management fees. Managing these types of property is going to require the same amount of work as a property that earns you $400 per month.  So why would you manage a property that brings in $400 per month, when you can do the same work and earn more?  

That means in order to get $1,000 a month, you need a property that will earn $5,000 per month.  That’s going to be a higher end property in a desirable location.  

If you have two properties, then you’re going to be well over the $1,000 mark.  To get $5,000, you will need to manage seven or eight properties under management.  If you want to get to $10,000 a month, you’re probably looking at somewhere in the range of 10 to 15 properties under management. 

I created the BNB Mastery Program and the free training that is in the link above so that you can learn how to manage the right properties and not waste time with the wrong properties.  In that, I go into a huge amount of detail and break down who is your ideal client, how to figure out your niche and what they want and create an offer.  

As well, once you have properties to manage, how do you make those properties perform at the highest possible level?  How do you put systems in place to automate all of that so that you can focus on growing the business and not be involved in the day to day? 

There is also our free training above.  All of those processes and how I grew my business is broken down inside the free training in the link above. If you’re interested in managing properties on Airbnb, but am not sure what it takes, then I highly recommend you just check out that free training.  You’re going to get a really good framework to actually go and start implementing and start building this business for yourself so you can actually get results. It’s going to give you a really great framework to actually start implementing all this stuff and not just be a whole bunch of concepts and theories. 

Hopefully, this answered some of your questions.  If you have more questions, I also recommend that you check out other videos on this channel. For example, we have another video that goes into depth about all the costs on the back end of the business, what costs get paid for by the property owner, what costs get paid for by the guest, what costs get paid for by you and what your margins should look. We have another video that goes over client attraction and how to find people whose properties you can manage. 

VIDEO TRANSCRIPT:

What's up guys, it's James here and in today's video, I want to talk to you about money. Specifically, I want to talk about how much money you can make on Airbnb.

Now in this video, I'm not going to be specifically talking about how much money you can make with your own property on Airbnb, I'm actually going to be more so diving into how much money can you actually make managing other people's properties on Airbnb? How much money can you reasonably expect that you would earn managing properties on Airbnb?

So I want to answer that question. And I also want to break down for you guys how to go about doing that. Like what are the strategies to get to $1,000 a month, $5,000 a month, $10,000 a month, kind of take a bird's eye view on that and talk to you about how you can do each one of those how you can accomplish any one of those goals in the with the least amount of effort.

That's not to say little effort. That's not to say low effort. It does take effort, but how can you do it without any wasted effort? How Can you do it in the least amount of time with the least amount of effort that you need to? So that's really what we want to be talking about in today's video.

So to start out with, let's start with how much money can you make managing properties on Airbnb? Now, as I'm sure you can imagine, as with most businesses, the sky is really the limit with how much you can earn on Airbnb managing properties. There are companies like for example, saunder. That recently was I mean, they've taken a huge hit with everything that's going on. And I don't recommend growing your business that way.

But they built a billion dollar business. on Airbnb on the back of Airbnb, essentially, all they're really doing is managing properties on Airbnb and they turn that into a billion dollar business. What I think is a lot more reasonable for most people to expect is to get anywhere in the range of 1020 $30,000 a month. Now, it's not to say it's gonna happen overnight.

That's not to say that is easy, but that I think is quite reasonable for the average person to get to with their business without taking on any absurd amounts. have debt without having to have venture capitalists involved without having to build any kind of massive infrastructure or business. I'm talking just, if you want to earn some additional income, you want to build a relatively small sized company and just have enough income for you to live very comfortably.

Think 1020 $30,000 a month is very much achievable. And so then the question becomes, how do we do that? What does it take? What does the math look like to get there? Now, I've talked about this a little bit in some other videos, but I want to address it again here. My really big stance on this is that you shouldn't be managing any properties that are earning you less than $700 a month.

Now, if you've heard me talk about this before, what I talked about is using a management fee model to manage properties, which essentially means that you're managing properties for other people. You're going up to the property owner saying Joe Smith property owner, I will manage your property in exchange for 20% of the revenue 20% is standard. Some markets are more than that. No more are less than that I recommend never drop dropping below 20%.

Sometimes you'll be able to get up to about 30% for managing properties. And so here's what I recommend is make sure that that 20% is never less than $700 a month. How do you do that you manage the right properties. And the thing is you want to remember, all you need to do is basically look for properties that are earning about 3030 $504,000 a month, and you'll be able to earn 700 800 $900,000 a month in management fees for the properties.

Now doing that managing those type of properties that are pulling those kinds of numbers is largely going to be the same amount of work as managing a property that brings in $2,000 a month. So it begs the question, why would you ever want to manage a property that is going to bring in $2,000 a month in gross revenue, which if you're getting 20% of that, that means that you're getting like $400 a month in man And fees, or you can manage a property that's bringing in 30 $500 a month and you're getting about $600 a month in management fees $5,000 a month you're paying $1,000 in management fees.

Why would you do the same amount of work for less money? Right? Does that make sense? That's why I recommend having a cutoff. I recommend, at the very least, except a property that is bringing in 30 $500 a month in gross revenue, which means that you will bring in $600 a month in management fees. Okay, so that means that in order to get to $1,000 a month, if you have the right property, all it takes is one property.

If you have a property that averages five k a month, that's going to be a higher end property in a desirable location, then you're going to be able to bring in that 20% managing one single property. In most cases, you're going to need two properties to get past that because the average place you're going to be managing property, it's going to bring in about 600 $700 a month in management fees. And so you're going to need to have those to surpass that thousand dollar a month in revenue. Mark.

Now the nice thing about this business, like I've talked about in other videos, and I go into way more detail on this in other videos as well, but your margins are quite high. So out of that $700 a month for that first property, you can expect that about 600 to $650 of that is going to be profit going into your bottom line. So if you have two properties, then you're going to be well over the thousand dollar mark free and clear profit in your pocket.

So if you want to expand beyond that, if you want to get to five properties, you're probably looking at about seven, eight properties under management. If you want to get to $10,000 a month, you're probably looking at somewhere in the range of 10 to 15 properties under management, right? And so that's basically the math behind it and now it becomes a question of Okay, so I understand that now.

That's how that's where I can get to that's how I can get to it is just by managing the right properties, not wasting my time with the wrong properties that are going to bring in less money for me and not be worth my time and energy. Now how do I go about doing it? And that's really that's exactly why I created BMP mastery program. That's why I created the free training that I'm gonna link down below where we walk into in a huge amount of detail.

I'm going to break down, who is your ideal client? Like? How do you figure that out? How do you figure out what your niche is and who your ideal client is? How do you figure out exactly what they want and create an offer? That is going to be like, like, like the answer to their prayers, for lack of any better way to say it? How do you make a message that really, really resonates with that target audience and makes them want to just hand over the keys to no questions asked, hey, manage a property Done deal?

How do you go about actually going and entering into that agreement? So they're going to be managing with you for six months, 12 months, 24 to 36 months? Like how do you create a long term relationship, the contract for it, all that sort of stuff. And then beyond that, how do you make those properties perform? How do you get them performing at the highest possible level?

How do you put systems in place to automate all of that so that you can focus on growing the business and not be involved in the day to day? Well, literally, every single step of that process is stuff that I went through when I was building my business from the ground up a couple years ago, trying to figure this all out, trying to put systems in place that would be repeatable, so that my team and I could all grow the business together.

And that's basically what I put put together. And what I've now distilled down into a program that has helped hundreds of people to earn a full time income managing properties on Airbnb, and what I'm now going to give to you in the form of a free training that I've linked down below, it's gonna walk you through everything step by step, you're going to see the exact you're going to see the exact process that I used.

I'm even going to show you behind the scenes on some of my listings. So you can see that firsthand and show you my growth trajectory exactly how long it took us to grow the business over 30 properties and be earning a substantial amount of monthly income from the business. All that more is really just broken down inside the free training. So again, if you want to get your hands on That the link is down in the description below.

So if this is something that you're interested in on any level, if you've been toying around with the idea of, hey, maybe I do want to manage properties on Airbnb, I'm just not sure what it takes.

I'm not sure how much time is involved, I'm not sure what's really possible, then I highly recommend you just check out the link below, check out that free training, it's going to answer all those questions at the very least best case scenario, you're going to get a really good framework to actually go and start implementing and start building this business for yourself.

So you can actually get results. And two weeks from now, four weeks from now, six weeks from now, you can actually look back and say, Wow, I've got a property under management. I've got two properties under management. I'm earning a substantial amount of monthly income for managing properties on Airbnb. Let me tell you something, this channel is gonna be a whole lot more fun. If you actually have your hand in the honeypot.

If you are actually going out there and doing this stuff and implementing it and you can learn and learn these strategies actually use them to grow your own income, grow your own business. Right, like a lot of people spend so much time just consuming content without actually implementing it. And I'm here to tell you it gets a lot more fun when you can actually implement it and use this stuff to grow your business.

So if this is something that you're serious about something you've been wondering about even wanting to take action on, then I highly recommend just click the link below sign up for the free training, get yourself a spot. This is a brand new free train that we put together that's going to walk you through everything step by step, it's going to show you all the frameworks for everything. So again, I highly recommend checking out that train down below.

Hopefully this is giving you a bit of a bit of an idea and answered some of the questions if you have more questions about this I also recommend that you that you and invite you to check out other videos on this channel. I do go into a lot more depth than this video in other videos on the channel. So we have another video we recently put out that goes into depth about all the all the costs on the back end of the business.

Now that's also covered in our free training that I mentioned, but if you want check it out on our YouTube channel, I've got a a separate video that details all the costs of operating your business, what costs get paid for by the property owner, what costs get paid for by the guest book costs get paid for by you what your margins should look like all that stuff.

We've got another video that goes over client attraction, how do you actually find people whose properties you can then manage? Again, that's something we go into even more depth on in the free training. But if you want to see on the YouTube channel, I've also got a separate video that walks through our client attraction strategies, how do we generate leads, all that sort of stuff.

If you want to know how to convert clients, you know, you've got people in your network, you know, that you may want to manage their properties for them. And you want to know, how do I actually get them signed on under management, we've got another video that details that, again, that's something that's detailed in immense detail inside the free training that's linked down below.

But if you wanna check that out on the YouTube channel, it's also available for you here. So again, hopefully this video has gone given you a lot of value. I cannot stress enough that if you haven't already checked out, you're gonna want to get your hands on that free training. It's going to give you a really great framework to actually start implementing all this stuff and not just be a whole bunch of concepts and theories.

And then if you haven't already subscribed to the channel by now then just click that subscribe button down below so you can check out the two videos we post every single week relating to all things Airbnb related and how to grow an income managing properties on Airbnb and really perform well on the platform. Until next time, I will see you next video.

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