Is Airbnb Management a Good Business?

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What's up guys? It's James here and in today's video I'm going to be answering the question is Airbnb management a good business? Now, this is obviously a question I'm gonna be pretty biased on. But I do want to take the time to answer the question and to give you my thoughts on why I actually think that Airbnb management is a good business and why the model makes a lot of sense for people, whether they're looking to just get started. Or also, if they're looking for something that scales really well, I just want to share my insights on why I find that Airbnb management is such a good business model compared to other different businesses out there. Now, before I get started, I do want to remind you guys that there's a link down in the description below to a free training, that's going to walk you through all the different steps of how to actually grow a short term rental property management business. So if you want to earn a full time income, managing other people's properties on Airbnb, then I highly recommend you check out that free training, where I've laid out every single step of the process that I use to grow my business from zero to six figures in under 12 months managing other people's properties on Airbnb mean, that didn't have to buy rent or furnish any properties at all. And that ultimately transitions really nicely into why I find that Airbnb management is such a great business is because of the fact that when I got started, and when anyone else gets started, you don't have to spend a whole bunch of money upfront to get the business off the ground. If you look at other business models out there, there's a lot of them that require the person that's starting that business to invest, you know, 510 15 $20,000, into getting that business off the ground, just to the point where they can actually make money. Now, there's nothing intrinsically wrong with that. But just from the perspective of someone who is starting out a business, oftentimes, you don't want to risk a whole lot of capital, especially if it's your first business, or if it's a business that you're building alongside of a full time job hoping that it'll give you financial freedom. Now, if you're already a successful business person, then that's a different story. Sometimes it makes sense to take on that financial risk, because you know that it's a more surefire bet, when you're just getting started though, having someone with a low financial barrier to entry is a really good thing. So it's really nice to be able to actually get started without investing any money into buying, renting or furnishing any properties at all. So literally, within just a few $100. In, you know, miscellaneous little expenses, you can get the business up and running and off the ground and have cash flow coming in. That's the other really great thing. The second thing I think is fantastic with this business is the cash flow that comes in in a recurring fashion, you're not out there having to constantly hustle to eat what you kill, you go out and get a property and you're going to be earning income from that property for months and months and months, and ideally years and years into the future. So that's a really nice thing. Because again, it gives you that peace of mind that comfort, and again, allows you to more quickly transition out of a nine to five, if that's the goal, you want to make sure if you are going to be quitting your nine to five job and a steady paycheck coming in, you have some consistent reliable income if you're in a different business where the income is a lot more lumpy. And that's really challenging, you want to make sure that you have even more than you need, so that you have a nice big buffer there, where's the money, the money coming in is monthly recurring revenue. And that means it just gives you a lot more stability and being able to say goodbye to that nine to five, or that other steady paycheck, those are two really big benefits I find when starting out. Now for me personally, when I got started with this business, I wasn't in a good financial position, I was in some debt, I needed a business that number one would be able to bring in money without me investing any money into it because I didn't have the money to invest. And number two,

it was really important to me that I had some stable recurring monthly income, because I lived the life of being in debt and not being able to make ends meet. And it's entirely just way too stressful. It's impossible to make long term good decisions for the business when you're constantly just worried about making ends meet. So having monthly recurring income is a really big way off off your shoulders. Now again, if you want the full training on exactly the step by step process, I followed to get started doing this and it's linked in the description down below, I highly recommend checking that out. I also share a bit in that training about my story and how I started out how I got things off the ground. And you know, also how I scaled the business and how I got to six figures and automated it. And that ultimately is sort of the third reason why I think it's such a great business is because it is quite scalable. The nice thing, again, about building a business like this is that as you scale, you don't have to make that trade off constantly between actually getting profit from the business versus scaling it in other businesses, you have to keep reinvesting into the business in order to keep it growing, and to keep on putting money back into the business. And that makes it really challenging to live off the profit because every dollar the dollar that you take out of the business is $1 that's not being used for the growth of the business. The nice thing about growing a management business is that you don't have to be constantly reinvesting that profit you can be taking profit out of the business and still scaling the business and bring on more properties because it doesn't cost any money to do so. You can add on those properties and then get it to the point where at five to 10 properties typically it's quite easy to then outsource and automate the day to day operations. You can hire a cleaning person and take care of all the cleaning right From the get go so that you're not involved with that. And then later on down the road, you can hire guest communications people to take care of the guest communications, you have maintenance people on board to take care of any of the property maintenance sort of be the boots on the ground, so to speak. And that's exactly what I did is I took care of the guests munication myself for the first few properties, and was sort of the boots on the ground myself for the first few properties. And then once I had enough income coming in, that I could comfortably hire someone on to do guest munication, which didn't actually end up costing all that much at all. And then same thing with maintenance. That meant that I could put those people in place, put the right systems and tools in place for them so that they could operate effectively in those roles. And then I could largely step away from the business and not be involved in the day to day operations. From there, my role was basically just bringing on more properties and cutting a scale, which was really nice, because it may meant that I had all my time to to focus on those high leverage activities that ultimately added a whole bunch of money to my monthly income. And the other option for me is once I reached the number of properties that I want, and I was comfortable with, and I was satisfied with the end cause making, it just gave me a lot more freedom to do what I want with my time. So I see a lot of my students doing as well as they reach, you know, 1015 20 properties, and they're making a nice six figure income. And at that point, they

have the decision to make of hey, do I really want to keep on going do actually really care about that additional income? Do I want to go and aim for multi $100,000 Or a million dollars a year? Or do I want to just have a really nice passive lifestyle business, you know, a lot of us really just focus on lifestyle, we want to maximize that balance between the money we're making, and the income and the sort of lifestyle that we get to have. For me personally, I've found that after a certain point, the money I'm making just doesn't really make any difference on the quality of my life. Now, it doesn't mean that I don't want to go out and make more money, because for me the kind of pursuit of making more money, the pursuit of creating businesses that add more value to other people. And that make a big impact is really, really fun and enjoyable in and of itself. But I always want to do that in the mindset of, hey, I want to do that in a way that's really sustainable, because I don't need more money, so I can live a really nice life. So that's really kind of the fourth reason that I think it's a fantastic business, is that Airbnb management is a business that allows you to really have control over your time, it allows you to have control of your time, your location, and ultimately just gives you a whole lot of freedom. Now I know for some people, they have ambition to go and be the next Jeff Bezos, next Elon Musk, and they want to build a absolutely massive, successful business. And if that's what you're after, then maybe Airbnb management isn't the right thing, because it's not a huge, innovative disruptive company that's going to ultimately go on to be a multi billion or trillion dollar company. But if what you're after is some nice stable, consistent income coming in each month, that allow you to have the freedom to say goodbye to the nine to five not have to answer anyone going to afford you luxuries you want going traveling spending time with your family, buying a few nice things, then ultimately, area management is a really, really good option for that. It allows you to get started without taking on substantial financial risk. It gives you nice comfort and a ton of freedom and flexibility because of that monthly recurring income. And you can scale it to be a healthy enough income that you can more than support yourself and your family and be really happy and satisfied with the money that's coming in. So again, if you want the whole step by step training, including all the tools that I use to automate the business and give me a lot of my time and freedom back, then I highly recommend checking out that link in the description down below register for the free training, we're also going to give you a few tools completely free, they'll just help you to get the business off the ground. Something I really enjoy doing. I've been doing it for about five six years now is I've been teaching other people how to earn a full time income managing other people's properties on Airbnb, I've taught over 550 students how to do it. So if you want to work with me, if you want to learn from me and learn exactly how to build this business, then I do highly recommend checking out the link in the description down below and registering for that training before it's too late. That being said, if you do get value from this video, if it was insightful, if you agree with things I said found value in it then please give me a thumbs up hit that like button. It really does help me out a lot with growing this channel that really appreciate if you take a moment to just quickly hit that like button. Also, I post two new videos on the channel every single week happened this week for a number of years now so you can rely on two videos every single week on this channel. I'm really dedicated committed to bring you guys value here on the channel. So if you haven't yet subscribed and I know a lot of you watch me regularly and aren't yet subscribed to the channel, so if that's you then make sure you hit that subscribe button to stay up to date with all new videos that we post on this channel. Like I said twice a week on Tuesdays and Thursdays. So make sure you hit that subscribe button to stay up to date with everything that we post and all that being said, I hope you got value from this video. I hope you really enjoyed it. Leave me your thoughts in the comments down below and I'll see you in the next video.