How much time I spend to make over $100k per year on Airbnb

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What's up guys, it's James here and in today's video, I'm going to break down for you how much time I spend on my Airbnb listing in order to have it bring in over $100,000 a year. So this is a property that I actually did a video recently breaking down all the numbers, and I showed how much I've made in the first six months on Airbnb. And I'm just going to reveal the number here because the videos already out. But I highly recommend that you check out that that video as well if you're interested in a full more detailed breakdown. But in the last six months, this property has already brought in $99,000, just since it got listed, and we've already got bookings that far exceed the $100,000 mark. So by the time the year is all said and done, once we actually have 12 months of performance on this property, we should be looking at about $150,000 in total revenue. Now to be fair, that's not all going to be profit, obviously, part of that is going to go to cleaning fees, we're gonna have our expenses on the property or mortgage taxes insurance are their utility expenses, we're gonna have our our taxes our tax bill to pay. But after all is said and done, after all our expenses, we're gonna be netting certain between 50 to $70,000 on this property in a given year. So that's a pretty good net income that you bring in, especially when you consider the amount of time I spend on the property on actually managing it taking care of everything, which big surprise, big reveal here it is about an hour to two per month, you heard that right, not per week, not per day, per month. Now, that is not how much time I think most people are going to spend on their property. And so I want to break down exactly how it is that I'm able to achieve that. And I also want to let you know that there's a link in the description down below for anyone who is looking to invest in properties and actually purchase properties. own real estate actually want to buy properties for the purpose of using them as a short term rental are an incredible cash flow, like the numbers I'm talking about, you'll be able to buy a property that brings in $70,000 a year and replaces your income. If you want to be able to deploy that strategy, you want to learn the ins and outs, then there's a link in the description down below for free training that's going to walk you through exactly how to do that it's going to go through a step by step, we're gonna give you some great tools and resources, I'm going to share with you my three keys that you need in order to successfully invest in short term rentals and earn these incredible returns that I've talked about and that I'm unable to achieve. So if you want to look into that more, just check out the link in description down below, you can access that training, again, completely free. Now the way that I'm able to do this is really it just comes down to systems and strategies. And this comes down to, you know, all the different tools and strategies that I built over years of managing other people's properties on Airbnb, a lot of that stuff, I'm now deploying with my own properties on Airbnb to make sure that everything is as streamlined as possible. And so there's a few different components of where people's time usually would go, that my time just isn't going to shed some light on where my time is still going where that hour two per month is going, it really is just going into reviewing the financial statements at the end of the month, I think two hours is very generous, quite frankly, it usually does not take me any more than about 30 to 45 minutes. So I say an hour to two hours to be more on the generous side. But really, it is very, very little time that I'm spending on the property. And what I'm doing there is I'm just going in and looking at the financials of the property, looking at how much money we brought in how much money went out and expenses, make sure everything's on track. Up until recently, I was also spending about 30 minutes per week going in and optimizing the pricing, I've actually now offloaded that. So if you want to count that, and that's another two hours per month that I was spending that I'm now no longer spending was just on price optimization, again, not a substantial amount of time by any stretch of the imagination. And so here are the buckets that I generally see people's time going into when it comes to managing properties on short term rental. And this is where I find a lot of real estate investors get scared away from short term rentals, because they you know, they see that how burdensome it can be to manage a property and they think it's going to be a full time job. And absolutely, it can turn into a part time or full time job to manage a property on Airbnb and to own an Airbnb property if you don't have any the right tools and systems set up. And so really what these categories are would be number one cleaning. Now the very, very polar end of it the worst case scenario, I see some property owners that do the cleaning themselves. And that's just awful for a number of reasons. But we're talking about, you know, just let's say that you have a clean team in place, which is really just step number one, a lot of people still spend time managing those cleaners, you know, scheduling them, telling them when to go where replenishing things, just communicating with them paying the bills, all that sort of stuff. So the way that I've managed to outsource that completely so that I don't even, you know, interact with the cleaners
hardly at all, is that basically I've got a cleaning team that is number one really, really good. So that's step number one is finding the right cleaning team and I do this you know, we've got a whole screening process. We've got a step by step kind of workflow that we go through to find a really great clean team. Make sure they're the right fit, and then we've got our check Call Center Training for them to make sure they're well set up in the role. And then finally, I really just comes down to integrating them with our systems so that they can schedule themselves so they can run their own invoicing and get paid. You know, everything is taken care of behind the scenes without my intervention. So we have a number of different tools that allow our cleaners to schedule themselves, we can easily make an order on Amazon, have someone on the team make an order on Amazon, to replenish their supplies now and sent right to the cleaners house, they have the supplies, and we don't need to take care of that. So all that stuff can really get systemized. And I know, I'm obviously at the advantage of having a business where I can utilize my team for a lot of this stuff. But really, I've done this in the past where this was our business, we were managing properties for other people. And really, this just comes down to having one virtual assistant behind the scenes that can kind of manage the operational aspects of the business. So things like you know, communicating with the cleaners, if ever, there's something going on with a guest that needs additional cleaning additional attention, facilitating that Amazon order so that the cleaners get the supplies that they need that sort of thing, it's very, very minor, very, very minimal amount of work needs to be done. But if you're doing it yourself, it's tedious. And it's really not high leverage. So that gets cleaning taken care of we have a good cleaning team, we've got them set up to be able to run themselves take care of themselves, that's great. And the next thing is going to be guest communication. And this is a part that is a combination of automation and outsourcing. So on the automation side of things, there's a bunch of different tools that we can use and templates we can use to automate a lot of the guests messaging. So those commonly asked questions are either answered automatically with a check in message or you know, beginning of stay message or checkout message, or are templated, so that you can quickly give them the access to the Wi Fi in just a second with a quick click. Now, frankly, if it's your first property, I recommend just doing that yourself for the first a little bit, because it takes so little time. But if you have multiple properties, or you just don't want to be involved in it at all, it's super, super simple to have that same virtual assistant, just taking care of the guests messaging, we've got some trainings, obviously, you need to do. So, you know, for us, we have our virtual assistant do the training so that they know exactly what kind of tonality to use when communicating with guests. So they have all these templates set up. So again, a lot of this stuff is just structures that need to be set up ahead of time to streamline it. But it's, you know, by no means a skilled hire that you need to have in that position, it's a very low level position that doesn't really need anyone skilled or by any means expensive to fill it. So that's gonna take care of guests communication being the other aspect. And another aspect is gonna be pricing optimization. Frankly, a lot of people just don't do this, a lot of people just don't have any clue what the heck I'm even talking about when I talk about price optimization. But having the right tools for this is gonna make you exponentially more money on your property. And then having someone else that can go and implement it, like, again, the virtual assistant is going to be really fantastic. So really, it's one VA that can accomplish a lot of this, you got your cleaning team as well, obviously. And the really important piece is that we want to have the right tools in place to make all this stuff. So that doesn't require someone extremely skilled to do the role. So price optimization, for example, it's pretty complex, if you just ask someone to optimize your pricing, you're gonna need to pay a lot for someone that has the skill set to be able to do that effectively. Whereas if you work with someone like myself and have the tools at your disposal, to be able to make the process super streamline and almost dummy proof, then you can hand it off to a virtual assistant to do take care of it, and you're all good to go. And then from there, you've just got your maintenance, things to take care of which again, can be passed off to a virtual assistant, they're already doing the guest communication. So they receive a notice from the guests that there's some kind of maintenance issue that needs to be attended to. And they can go ahead and facilitate that with the appropriate maintenance person. And that is really all it takes. Now, I know that a lot of sounds very easy in theory, but really, it's reliant on the right tools and the right systems. If you have the right tools and the right systems, then it is incredibly easy to set up and even set it up very quickly and be off to the races and have a really nice high income producing property that is relatively passive to own and operate, if you don't have those systems and those tools and developing them, frankly, takes years, which is why we do what we do, which is why I've developed the trains that I've developed, which is why I coach feel the way that I do is because I want to help people to not spend years I've already spent that time so it's better for people to be able to stand on the shoulders of a giant than to go and forge their own new path.
So if you want to shortcut that process, you don't want to spend years figuring all this stuff out from how to analyze and pick the right property through how to set it up renovate it, you know what kind of furnishings to add what not to add how to manage the property, how to set it up to be successful, how to make it perform well how to make it perform well without a whole bunch of time going into it, all that stuff from A to Z. Then again, I highly recommend that you check out that training that's linked in description down below it is completely free. So if you check out that training on how we're able to invest in high cash flowing properties on Airbnb and be successful investing in short term rental properties, that's going to be a in depth training that's going to walk you through absolutely everything you need to know. So you can start out off the gate right out of the gate with these systems, these tools, these strategies, they're going to help you to succeed. And way way, way less time, you're also going to have the opportunity after checking out that training to set up a free personalized one on one strategy call with my business and investing partner Riley, that's going to be an insanely valuable call, I can't believe that we're giving them away for free right now. So if you want just go ahead and jump in and get one of those, I guarantee you Riley will not be doing these calls forever. So just make sure that you get yourself a spot in there if you're serious about investing in short term rentals. And that's all you know, if you got value from this video, if you like this insight, then just give me a quick like button hit that like button give me a thumbs up on the video. It really helps me out tremendously with growing this channel. And also if you want to stay up to date with more videos like this if you want to see the two new videos we post every single week then make sure you hit the subscribe button to stay up to date with everything we post on the channel. And all that being said, I'll see in the next one.