How to make money online 2020 (Remote Airbnb business)
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There are so many opportunities out there to work remotely, but have you ever considered managing Airbnb properties online? Find out how you can build a business managing Airbnb properties anywhere in the world.
In this video, I’m going to talk about how you can get clients remotely to let you manage their Airbnb properties and what steps you need to take to make it happen.
Remote management is one thing that a lot of people don’t consider when they think about short-term rental property management. Most people think that it is actually dealing with guests and maintenance and that sort of thing. Traditional property management is all of that.
The beauty about Airbnb management is that you do not have to do that. It’s similar to any kind of agency model where you run the advertising for a client. There are similar ad agencies that are running Facebook or YouTube ads, but they are not doing the filming. They are going to take care of sending out their product and the ad agency is just doing the advertising.
You can think about an Airbnb management business the same way if you would like to do it remotely, or what we call “pre check-in management.” If you’re doing remote management, you’re basically acting as an ad agency for the owners that you work with and they take care of the rest of your business.
So why would anyone hire a property manager who is only going to take care of the advertising side of things? Ultimately, it comes down to the same reason that anyone hires an ad agency. It comes down to the fact that an ad agency has specialized knowledge that allows them to perform exceptionally well and that will make the business more money. Airbnb management is no different. If you can acquire the specialized knowledge that it takes to make a property perform better than the average person, then they will make more money by having you manage that side of the business compared to them handling it themselves.
So, the value proposition is more money and less time spent, which is a great value proposition. The first step, then, becomes acquiring the skills that you need to know and obtaining that specialized knowledge on how to make your properties perform. If you want to learn that in detail, check out the free training that I have linked above.
Remote property management typically charges 10% to 15% of the property’s revenue. Then obviously the goal is that we are going to actually pay for that ourselves, by increasing the performance by enough that it actually pays for itself.
Next, you need to understand how to actually get clients. Given that you can manage remotely, you can manage properties anywhere in the world. Just because you can manage properties anywhere does not mean you should operate properties everywhere. You are going to want to work within a specific niche within a specific location. That means you understand what types of clients are booking in the specific properties that you manage so you can get really good at catering your listings to those clients.
Next, it’s all about understanding exactly what the property areas in that area need and what their challenges are so you can put a message together that will resonate strongly with them. Then you just have to start reaching out. Reaching out to clients has its own strategy behind it.
There are ways to do it that are really effective. You obviously want to spend your time doing it the most effective way possible, so that you spend as little time and send as few messages to get the maximum possible result. And if you do that effectively and have the right model, you should be bringing on about 50 to 80% of the property owners under management.
Now the beautiful thing about this business is that the more you produce results for your clients, the more money you make, because the higher the income gets on their properties, the higher your income gets on management fees. Not only that, but the better you do with them, the longer they’re gonna want to stick around, have you managing the property for them.
Once you’ve put all that framework in place, now you’ve got a totally remote business that you can run online from the comfort of your own home and earn a consistent monthly full time income.
What's up guys, it's James here and today's video I'm going to talk about a really exciting really cool topic. Specifically, we're going to be talking about how you can build a business managing properties remotely and how you can get clients remotely to let you manage their properties on Airbnb and short term rental, and talk to you about the steps you're gonna need to take in order to earn a full time income completely online.
Okay, and so you can do this from the comfort of your own home, you never have to actually go and see the property owners and you don't have to manage anything on the ground with the property. So I'm going to break down what the model looks like. I'm going to show you how you can do it really quickly and be earning an online income from this business managing properties completely remotely.
So to get started with before I dive into the video, I just want to remind you as I always do that if you hit that little like button down below, it helps me out tremendously so just wait don't do it now, but if you get value from this video at any point, then please do click that like button if you want to click Get now preemptively out appreciate that, but just click that like button to let me know that you liked the video, and that you actually got value from it and you want to see more content like this.
So dive right into it here. Let's get started and talk about the steps you're gonna need to take in order to build a business online managing properties on Airbnb completely remotely. So remote management is one thing that a lot of people just don't really consider when they think about managing properties remotely, when they think about property management, they think of, you know, going by and actually dealing with the gas, maybe getting them checked in dealing with cleaners, dealing with maintenance, all that sort of stuff.
And that's what traditional property management is. And it's gonna be really difficult in traditional property management to do something completely remote. But the beautiful thing about Airbnb management is that you don't have to do that. It's similar to any kind of an agency model where with an agency model, you're gonna be running the advertising for a client, you might have an ad agency that's running Facebook ads or YouTube ads, different businesses you might have heard of in that specific category, but you're not actually gonna be doing At the filming,
they're going to take care of the company's going to take care of, you know, sending out their product or giving access to their programs, whatever it might be, the ad agency is just going to be doing the advertising. That's it. That's all. And you can think about an Airbnb management business the same way, when you're looking at that remote, what we call pre check in style of management. If you're doing remote management, then you're basically acting as an ad agency for the property owners that you work with.
And they are going to take care of the rest of the business. And they're going to take care of the actual fulfillment. So actually getting the guests checked in making sure that they have a great stay, managing cleaners, managing maintenance, all that stuff. And so the first thing I want to look at and the first thing it's important to ask yourself is why would someone hire a property manager who's just going to take care of sort of the advertising side of things, and why you might want to look at why is someone hire an ad agency?
Why does you know someone who's running a business hire someone else to run their advertising? Well, ultimately it just comes down to that, that ad agency has specialized knowledge that allows them to perform exceptionally well on advertising. And that's going to make that business more money than if they did it themselves. They did it themselves, it would add complexity complication, it would take up more time.
And they probably wouldn't even still be able to get the same kind of results that the agency would, because the agency has, you know, a depth of knowledge on how to make those properties, those ads perform more, you know, more effectively than the average person would. So with Airbnb management's no different if you can acquire the specialized knowledge that it takes in order to make that property perform better than the average person can get at performing.
And they're going to make more money by having you manage that side of the business than if they did it themselves. Not to mention the fact that they then don't have to do that. It takes away complexity, it takes time off of their plate, and it makes them more money. So the value proposition is more money, less time, and that's a really great value proposition in any business, obviously. And so The first step really becomes acquiring the skills that you need to and the knowledge, the specialized knowledge on how to make properties perform.
And so if you want to learn about that in detail, you want to learn the exact steps that it takes to get properties to be taught 0.001% performers on Airbnb, then just check out the free training that I've linked down below on how to earn a full time income managing properties on Airbnb, that training down below specifically walks through the exact steps for how to do this with clients at scale, how to grow this business, all that stuff, it walks through a whole bunch more, but one of the topics we focus on a lot is how to actually get your properties to perform and it's a lot more simple than you probably think it really isn't complicated.
There's no you know, complicated systems or math to it. You don't have to be a data analyst or anything like that, but just comes down to knowing what levers to pull. The unfortunate fact is that most people that are hosting on Airbnb are great hosts, but they have no business savvy to them whatsoever and they really don't know what levers to To pull on their listing in order to get to perform a lot better. And so as a result, they're often leaving hundreds, if not thousands of dollars on the table every single month and every single year with their listings.
And so it creates a really big opportunity for someone like you to come in there and know what to do to make that that jump in performance, and then suddenly be making them even more money, even net of the fees that you're charging them. So what you're looking at when you're doing remote management is typically a 10 to 15% management fee. And that obviously, is the goal is that we're going to actually pay for that ourselves, we're going to increase their performance by enough that actually pays for itself.
And so now that we understand the basics, you understand what the model is you understand why clients would want us The next thing is to understand how do you actually get clients. So if you're looking to get clients, given that you can manage remotely you can manage anywhere in the world. Now that's really cool. But that doesn't mean that you should manage everywhere in the world. What you really want to do. Pick a specific niche, one specific location and master that location. It's similar to any other business.
If you're an ad agency, then the best ad agencies you'll find are the ad agencies that specialize on working with a specific type of business. Because running advertising for a product business versus a service business versus a, you know, an an online product, for instance, or an event business, it's pretty different in terms of how you would approach it. If you want to get clients for plumbing. As you can imagine, that is going to be a lot different than getting clients to go into a store at Home Depot or getting clients to buy something online on Amazon.
So you really want to specialize you want to hone in on different niche. It's no different with Airbnb. Now, I'll show you exactly what I mean by this. If you go on Airbnb, and you're looking to get guests to book your space that's out in the mountains in Colorado, you know, there's going to be a very different type of guest booking the properties there, then the person that's going to be booking me No a villa over in Italy.
And so what you want to do is understand exactly what types of clients are booking the specific types of properties that you manage, and get really good at catering your listings to them answer those questions that you know they have. And if you get really defined in your niche, then you end up having the same ideal guest. And you know exactly what to do to make those listings perform, you can just repeat, rinse and repeat the same process.
Whereas if you manage one mountain property over in Colorado, and one Villa over in Italy, it's two totally different approaches, two totally different types of guests that you have to cater your listings towards. And so it's going to end up making it a lot more challenging for you to make both properties perform, it's going to take up more of your time, it's going to take more knowledge, it's going to make things a lot more complex.
So step number one to getting clients is to define your niche. You know, what you really want to do is look for a niche that you understand that you can serve on a high level, but that also has a high level of income potential. The beauty about managing properties remotely, you get to cherry pick an area and then cherry pick properties within that area that are grossing the highest amount of monthly revenue so that you can maximize your monthly management fees.
It's really great if you can manage properties that are bringing $5,000 a month or more than that, because then your 10% management fee equates to about $500, every single month, just for one single listing. Now, that makes it incredibly easy to scale to 510 thousand dollars a month in management fees, and really be earning a substantial a healthy, you know, five, six figure income, and then really be you know, living a great life. You know, at the end of the day, we all want to grow this business to be able to earn a full time income and really live a great life. And so the easier you make that for yourself, the better.
You don't want to go and manage lower income properties because then it's going to take you a lot more properties to reach your ultimate goals for your business. So now you've got your niche established, you've picked a niche and you pick the right one that's going to generate high income Now it's all about just understanding exactly what the property owners in that area need, what their challenges are making sure you put a messaging together, it's really going to optimize for that and really going to resonate strongly and strike a nerve with those people. And then you just have to start reaching out.
Now, again, reaching out to clients is a whole, there's a whole strategy around it, you can do it any number of different ways. But like anything, there are ways to do it that are really effective. And there are ways to do it, they're really ineffective. You obviously want to spend your time doing it the most effective way possible, so that you spend as little time and send as few messages to get the maximum possible result.
And so in order to do that, you want to check out the train down below, again, that walks through in detail step by step exactly how to reach out to these, where to find your ideal clients, how to reach out to them, how to make sure it's effective, how to track it, how to do all that. So if you want to learn how to do that effectively, then just check out the link down below to the training. It's completely free. There's no charge for it whatsoever, and you can register for that and learn the exact step by step.
Once you've done that, once you've gone through, and you've actually messaged these people, so you know, just just kind of summarize where we're at so far, up until now, we have now, you know, figured out exactly what the model is, we understand you understand why people need this service. And then at this stage, you will have figured out your niche that you want to serve is going to have a high amount of income potential and you start reaching out to them.
Now you just need to set up appointments. So you set up appointments with property owners, and you're looking at doing these meetings virtually or over the phone, and you put together your offer for them, you present that offer where they're going to be able to make more money and you can show them numbers. There's tools you can use, like for example, the free profitably projection tool, again, totally free to download, I left that for you. It's a really, really great resource for you. It's down in the description below.
You can download that and use this show this to those property owners that you're meeting with, and it shows them exactly what their property could be performing at. And it likely shows them that they're leaving a lot of money on the table because They know, they're going to know how much their properties actually bring in. What you're going to show them is how much their property could be and should be bringing in.
Based on that market, it's based on data for that market, you're going to show them that competitors in their area are actually doing better than them. And you're going to present your offer as being the solution for how they can achieve that with their own listing by having you manage it for them. And if you do that effectively, and you have the right model, the right method for that you should be bringing on about 50 to 80% of the property owners that you meet with on board under management.
So that means that if you're setting up appointments with 10 property owners, you've now got five to eight properties under management. If we rewind back a little bit, you remember, each property can be netting you about $500 a month in management fees. So that means that when you meet with 10 property owners, you could really be building up to a 2500 even a $4,000 a month income just from that alone. And so now you've already got the foundation built, and then you just want to keep on over delivering.
Now the beautiful thing about this business is that the more you produce results for your clients, the more money you make, because the higher the income gets on their properties, the higher your income gets on management fees. Not only that, but the better you do with them, the longer they're gonna want to stick around, have you managing the property for them. Not only that, but the more that you produce results for them, the more likely they are to tell other people about you that's a huge factor in this business is that we tend to get a lot of our business through referrals.
You know, generally speaking, after you get to five or 10 properties, you're going to be able to drastically reduce the amount of outreach that you're doing, while still growing at a really high pace. A lot of the clients that we work with, who've been through the free training, but down below, and we work with one on one we work with long term, those clients that we teach all the ins and outs of exactly how to build this business.
More often than not once they get to 10 properties, they actually have a problem they run into an issue where they can't keep up with the demand. I have clients I talk with regularly who are constantly onboarding five or eight new listings every single month, and they're not doing any Outreach at all. And that's the beauty of delivering real results to your clients is because once you start going and really generating results, they're going to tell everyone they know about you.
And people are going to have this total no brainer equation where they can work with you and make more money and save time. Again, it's just it doesn't make any sense not to. So once you've put all that framework in place, now you've got a totally remote business that you can run online from the comfort of your own home, you're producing real value generating real results for your customers. That's probably the most rewarding thing in my opinion about this business and you're earning a consistent monthly full time income.
You know, we're talking about a real income six 810 thousand dollars a month in this business depending on how far you want to scale it and you can be doing that completely online completely remotely. So really cool. Again, if you liked this video, if you got value from it, you want more videos like this and just click that like button, let me know that you appreciate this video and you got value from it. If you want to see more videos that we put out, we put out two videos every single week. And click that subscribe button and get subscribed to the channel. Comment down below. Let me know if you have any questions about this model.
And again, check out the free trainings, there's a free training specifically, it's going to outline how to earn a full time income managing properties on Airbnb, that training is a training I put together where we go in depth I show you behind the scenes of my own business, I show you the result, I show you the exact step by step of how to do it without making all the mistakes that I had to make when I was first getting started. So if you're interested in building this kind of business, and really building an income building completely online, however you want to structure it, you're gonna want to check out that free training, it's a really great place to get started.
I put that together to help you to avoid any of the common pitfalls and to really spend your time as effectively as possible so you're not wasting time doing the wrong stuff or doing things the wrong way. So again, check out that free training link. Down below. It's gonna give you everything you need to help you get started. And I will see you in the next video. Thank you so much for watching, and I'll see you again