The Secret to Finding Incredible Airbnb Investments
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How are you finding your investments? Are you fighting all the other investors for scraps? Or do you have a wide open ocean to take your pick? I share my basic framework and tips for finding short term rental properties in this video.
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When we are hunting for something valuable, how do you search?
Are you sticking with the pack? Doing what they do? Then get upset when you’re not able to beat them to the next property?
If you’re getting started in the short term rental investing space, you might need to re-think how you look for properties.
There are ways to get to properties before anyone else. I’m not saying you can’t do it.
But to beat the experienced investor is going to require lots of work no matter which way you do it.
So why not clear out a bunch of competition straight from the beginning?
In this video, I will share with you the two groups you’re competing against right now that you should not be competing against.
I talk about what they’re looking for and how you can shift this (or turn it around completely) to help your next search.
I also share why you want to turn this around and ignore what they’re after.
Finally, I talk about the glue that holds all of this together.
Because if you do figure out how to filter away those two other groups so you’re left with a blue sky, then what?
I talk about how you can make sure you’re making the right decisions so that it’s not for nothing.
Hey, what's up guys, it's James here and in today's video, I want to talk to you about the number one secret, the one that no one talks about the trick that I've developed for how to find incredible investments as short term rental properties, incredible Airbnb investments. So hopefully this is gonna be really valuable for you, I want to share with you my tricks, so that you can go out and find incredible properties that will do amazingly well on Airbnb. Now, before we dive into this in detail, I do want to let you know there's a brand new free training link in description down below. We just set it up pretty recently here, I spent weeks working on this, I hope it's really valuable to you. So make sure that you check that link out in the description down below, we walked through the three absolutely crucial components for how to invest the absolutely need in order to invest in short term rentals. And I see people not doing this stuff, and it works out really poorly for them. So make sure you check out that training. If you're interested in investing in other people's or sorry, investing in properties for Airbnb, if you want to go out and acquire properties for Airbnb and short term rental, and you want to get an incredible ROI, you want to get some great passive cash flow coming in, then make sure you check out that training. So all that being said, let's talk about my secret here finding incredible Airbnb investment properties. And really what it all boils down to is it comes down to buying properties and looking for properties that other investors aren't interested in. Now, I know that might sound kind of weird, you know, why would I want to buy properties that other investors don't want to buy. And really, it's because I want to look for properties that are sort of a hidden gem an opportunity that other people aren't seeing. So there's a lot of properties out there that will perform really well as a long term rental. And they'll perform a little bit better than that as a short term rental, those are the properties that I want. Because if I'm going after those properties, if those are kind of, you know, the cream of the crop for the long term rental investors, it means I have to compete with those long term investors, I have to go and try to find properties that are getting picked or by long term rental investors. What I want is the properties that those investors don't really want necessarily and that other buyers don't really want. And it's not to say that I want one that doesn't have a good backup plan. I always talk about this where you want to have a backup plan where in your worst case scenario, even if you have to go to long term rental, let's say you still want to be cashflow positive, you still want to make sure that the property is not losing money. So but you want to do that in a way where you're also focusing on properties that other ambassadors and other buyers aren't looking for now on the market that I invest in my main competition isn't necessarily investors. My main competition in the market I'm buying in is people that are buying vacation homes cottages, right. And that's one of the beautiful things about short term rentals is you can be competing with non investors. But it's also kind of one of the pitfalls. Because if you're buying against if you're competing against people that are buying their home or their vacation home, they can make emotional decisions and pay way over value for a property. So what I like to do is I like to look at, okay, what types of properties are those people buying right now, in my market, I like to look for properties that aren't that that don't meet that criteria. But that will do really well for short term rental. So for example, I like to look for properties that need renovation work done, because the people that are buying vacation homes, they're buying it for relaxation, they're buying those things fully done up, move in are ready, ideally fully furnished and ready to go. Because what do they want to do with their vacation home vacation, they want to relax, they want to chill out, they don't want to do a renovation, they don't even want to furnish the place. Where's for me,
I can buy a property that's not renovated, that needs some renovation. And I can go in there and do some renovation force appreciation and build equity in the property. That's actually a plus for me, if I'd rather buy a property that's not renovated than buy one that is renovated, because I'll get a better return on it. But suddenly, I'm also now not competing with the other buyers in that market, we're just looking for renovated properties. So then I can go and get that property for way less than what it's actually worth, because no one else wants to buy it. And then I can make even more money on the buy on the purchase, you know, that's where you can make a lot of your money is by buying the property right. And then you can make it again through renovation, then you can make it again through every meet performance. And when you add all that up. Now that's where you're getting these huge knock out of the park ROI numbers. So that's the key really is just looking for properties that the other buyers in your market don't want looking for the properties that you are going to be kind of in a league of your own. And then the other really big important key here is to be able to identify the properties that no one else wants, but that also are actually going to do really well as short term rental properties. Because obviously we just get the properties that nobody else wants, but you fail to meet that second criteria, you're going to be kind of up a certain creek without a paddle, it's not going to be looking too good for you. You need to also make sure the properties are gonna do really, really well short term rentals and that comes down to proper analysis. You need to be able to run the numbers and know for sure that that property is going to perform really really well as a short term rental. You also need to know what types of renovation specifically you'll want to do. That property if you're doing any, what types of amenities you want to add to that property if you're adding amenities that are going to provide a really huge ROI that are going to be really in demand. So for me, that means making the proper accommodate more people. So adding bedrooms and bathrooms, if I can, it also means adding amenities that I know people going to that area care about, like a hot tub, or a sauna, board games, yard games, that sort of thing. So again, if you want to learn more about the process we use for renovating these properties, for adding amenities to these properties. And also for an analyzing for analysis for analyzing these properties, then check out the free training link in description down below. We're gonna walk through all that in way more detail, I'm going to show you the tools that we use show you absolutely everything. Analysis is one of the most important pieces to number one, make sure that you get the right deal. But also make sure you don't get the wrong deal. So it's really, really crucial. And so many people do it the wrong way or don't do it at all. And so you really want to make sure that you have the right tools, the right data to put into those tools, because those tools are only as good as the data you give them. And make sure that you have the right approach, you're doing it the right way. So again, all that is going to be discussed and covered in the training down below, which is completely free. So I'd highly recommend checking that out. That really is the overall kind of basics on how I find incredible investment properties. And I've done other videos on this channel that you can check out here where I break down the exact numbers, and they're absolutely mind blowing, I couldn't even believe it once we got these properties launched our most recent property that we launched about three months ago, and it's up and running. We're just shy of $90,000 in bookings on a property that we purchased for $520,000. And that's after just three months of operating. So again, these numbers can be really, really incredible if you know how to find the right deal. So if you want all the training on how to find those deals, how to get them up and running, how to maximize their performance, check out the link in the description down below. Check out that free training. I'll see you inside there. If you like this video, if you got value from it, click that like button, give it a thumbs up it really does help me to grow this channel. It helps me out tremendously. And also if you're new to the channel here if you're not subscribed, and I know a lot of you guys are new the channel or not subscribe. I look I look on the back and I see you guys I know that you're out there that you're watching this video and you're not subscribed. I know a lot of you guys are out there and you watch these videos frequently but you're also not subscribing you just got to hit the subscribe button. Just do it. Hit the subscribe button. I promise you, you won't regret it. I post two new videos every single week. So make sure you hit that subscribe button to stay up to date with the channel and I'll see you in the next video.