 Brian Page is here. Brian Page is the world's leading authority on how to scale and Airbnb business. He's the founder of the BNB formula and Author of how to become financially independent on Airbnb. You and I have worked together in a course that I have too So I've known Brian here for a while. He's a lifestyle entrepreneur business coach a multi-million dollar brand builder and host of the digital Titans podcast behind the scenes he's partnered With more mega thought leaders than anyone in his industry like myself He's here to share how he launched a successful Airbnb business and how he's helped people in 38 countries To do the same Brian good having here. Thanks. Good to be here. You're the master Let's talk about property hacking three ways that you hacked your way to $300,000 a year income and How you're teaching your students you've got what one that's at a million dollars a year couple couple. Yeah, okay, so You know growing up. I always thought real estate investing was something I saw on TV I didn't grow up with rich parents and I want to hear a little about your story, too But I always thought real estate was complicated in the past 500 years anywhere in the world you had to buy the property for the most part Airbnb and some other websites have changed the game, but they're not teaching this in school Definitely not so for anybody watching like we're now gonna teach you what they should be teaching in junior high high school and college But they're not going to by the way the system's not Geared for that So let's give people three things. Here's my goal from this people are listening people are watching a lot of people We're gonna see this I post down if you saw about two weeks ago I was in London and I posted This article that I read about a guy who made what was it like 27 million or something 15 million two years ago And I think he's gone up. Yeah, just doing Airbnb Properties and property hacking in London. Yep, so I got a huge response to post it on my Instagram and People were like, how do you do it? So I post an IGTV and I gave people like a five minutes in office But I brought you here because you can give people like the complete breakdown. You've written a book on it Yeah, you're kind of known as like the guy around Airbnb and property hacking so Let's start with this You've done it yourself because a teacher has to Do to be a good teacher like the best basketball coaches aren't just coaches They like played in the league right Phil Jackson Pat Riley all this so you played in the league You've got what about 12 properties that you still do that make you about 300 grand still doing it Yeah, and But now you begin teaching people just because some people are good at teaching and you like it, right? You're a little bit like me. It's fun to teach and explain and now your students are surpassing it What's the best story of a student surpassing you? How long did it take him? I got so many stories. Okay, one of the ones that comes to mind is this young kid he's 18 years old lives in Chicago and He took he went through my training and he started getting properties in Chicago He actually moved there because it was such a good city to do short-term rentals. Okay I think it's from Florida or something. He went there and within a few months. He had several listings up and Within a year. He was doing about 250k yeah net net and now he's got a 20,000 a month Yeah, with properties. He doesn't own there's no any of these properties Yeah, and now he has a hedge fund that approached him and said we want to invest into what you're doing So you can get more properties in Chicago. So now he has access to a couple million dollars Yeah, and he's expanding and he's like 18 years old. So I love that story and yeah I have quite a few students. They're doing well over six figures for you Did you start out with good credit? Did you start out with a lot of cash in your bank bank account or how did it work for you? Well for me Airbnb was always a side hustle. It was you know, most people see it that way It's like something you do with a spare room make a few hundred bucks or a thousand bucks. Did you have a room? I did. Well, I was real estate investor for many many years. Okay, right out of college. I got into real estate investing I was a flipper and flipped over a hundred properties and was doing that and I was doing well up until the big crash So an 08 right crash lost all you look you looked amazing in 2006 7 I look good You were like the smartest person on the block. They know 8 hit and boom 20-something millionaire doing well and then the bottom dropped out. I couldn't sell a single property I was building a multi-million dollar house on the beach in North Carolina. Okay a speck home Okay, I'm gonna make a million on that one home if it had sold but that was I just finished installing the pool Right before the big crash happened. So nobody wanted the house I tried to sell it for what I had into it couldn't sell it I couldn't rent it because nobody was going on vacation in 08. Remember how bad it was. Oh, yeah So I was hemorrhaging money and and it was all a mess So I basically came out of that whole real estate crash With no property and of course my credit was so you were a millionaire in your 20s They're not 20s and then down to not a millionaire anymore. I was a negative millionaire negative million I don't tell the story very often, but I owed 1.2 million to the IRS Wow now I don't know but I would want I got a bill from the IRS for 1.2 million and you didn't have the money I didn't have the money So I was a negative million so the guy in the street was was a million dollars richer than me that was penniless Yeah, I'm not first in almost person. I was like you're lucky because you don't owe any money Yeah So that's where I was in and and so I was just doing Airbnb in a tube to better apartment where I lived and Was making enough money. So you would sleep in one room and then the other room you'd run out Yeah, you can rent the bed in the same room Which is kind of creepy that Airbnb still allows that they allow a bed not a room Can you see the picture of the person? Before you say yes to this you put like contingent if you look like serial killer You cannot sleep in my room. Are you if you have to stay in someone's room on their spare, but not the same bed problem I don't know Who knows you can get bunk beds Creep like stepbrothers talk about creepy. It's like there's a random dude Sleeping above you you get the other question is which one did you take the top or the bottom? If he's a bed wetter, you definitely want the top All right, so Rub it whole yeah, all right, so I had my spare room on Airbnb I thought I was gonna make five six hundred dollars a month I ended up making enough to pay for the whole apartment and all my utilities. Yeah So I was working 50 hours That's a good thing for people watching and listening that you can start with just your own if you got an extra bedroom Yeah, yeah, don't go get an average place Go get a really nice place in your city and take the spare room put on Airbnb and you can live for free Yeah, so that's the first step towards financial independence for me was living free again I but I started feeling like oh, this is what I used to experience as a real estate investor I'd cash flow. Yeah, and so that was working out great and And I didn't really know what to do beyond that I was like I knew I want more properties, but I didn't know how to go about it And so fate intervened I was on a flight for work sat night down next to this guy He was very wealthy He was a he buys he's an early-stage investor in the crypto companies and he buys and sells companies super wealthy guys And he asked all these questions about what I was doing and I had no idea why this guy was so interested in me It was nothing special. I wasn't doing anything special But when we were done with the conversation He's like Brian you if you got a bunch of these properties you you can do really well. I said, well, yeah Duh, but I can't buy these properties. I don't want to put 20% down. How do I do that? I mean, I don't get what you're saying. He's like, no, no, you don't need to buy properties You just need to control properties. Hmm, and you can control them through leases, right? You can control them through partnering with owners and if you can control them You can scale this thing and that one idea I keep in mind this was years ago. Nobody was teaching this online There were no YouTube videos. There's nothing about how to scale an Airbnb business And so I went home immediately got my first listing and then from there one listing every month and scaled it You build it up to 12 you build yourself 20 30 thousand dollars a month. I'm basically pass it totally passive Yeah, I automated everything so I could work a couple hours a week I automated all the day-to-day management. So you pulled off the four-hour work week. Yeah, that's the three hour work week Three hour work using Airbnb five minute abs. I'm gonna I'm gonna one up. I'm gonna do the three hour Three hour. Why don't you want to do four hour four hours a week if you could do two and a half 2008 Yeah, so okay, so you've got this so I wrote down a series of questions because Everybody wants to know like okay. This sounds great. Yeah, but let's face it. We live in a skeptical world Sure, I put when I posted on my IGTV somebody wrote You know cuz I wrote about this guy that had Whatever 80 properties and he or 200 properties and he's making 15 million guys like oh, that's easy I just get 200 properties and then so people feel overwhelmed. First of all, you don't have to do 200 properties No, no, but let's just walk through. Let's just say Let's go back to when I was like, you know growing up. I had no money lived in a mobile home 1920 years old Will be the first thing you would teach me What would I do for like let's actually like you have a an actual course where you mentor and teach people Let's pull back the curtain sure because that's a paid course and these are this is a free podcast and a free video Let's actually like teach people what you teach Obviously your course is how long it's like how many hours of training? It's a lot. That's a big 20-70 video course. Yeah, so you know, we're not gonna be able to do like a 10 hour training Let's try to like give people so that people who don't get in your course even could just do this on their own Okay, whoop. Yeah Okay Here we go So let's pull back the curtain you have a paid training program where you mentor people and but this is a free podcast free video I want to I want people to feel like they actually learned how to do it on this video so You've got whatever 70 video training program and all that let's pull back the curtain pretend I'm 19 years old just like I was I lived in a mobile home. It's just that moved out didn't have any money What would you teach me about how I can basically because kind of your formula is You pay a thousand dollars and you make three thousand. Mm-hmm. So you're like tripling your money Yeah, so pull back the curtain like how does somebody listening? How do I in my 20 year old self? Actually do that first of all, where do I go? How do I find the listings? How do I list it on Airbnb so that it's always full, right? Like those three things How do you find them and how do you manage them and then how to automate it? That's also a great story. But what would you what would you tell me? Okay? Well, let's talk about first of all how it works. Yeah, so let's take a typical example of a thousand dollar property This works whether it's you're in a three thousand dollar a month place or a five hundred dollar a month place So don't pay attention so much to the number So let's take a thousand dollar a month rental like a one-bedroom And we're gonna put out an Airbnb and the reason that we can make three thousand dollars with it is because we're charging more Per day or per night for somebody to stay there than what it costs us to control the property, right? So if it's like $50 a night to control and we're charging 150 or 200 on Airbnb then that difference is profit Yeah So an example is one of the properties I have where I live in the Charleston area is a thousand dollars a month And it brings in between three and five a month depending So and then I got to pay utilities out of that But pretty much you're able to make that spread between what you're paying for it controlling it for and what you're making on Airbnb And it's the same game that hotels play so hotels pay their mortgage But then they chop up that property into rooms and each room is sold by the night So we're essentially buying wholesale selling retail. It's no different So that's what we're doing and there's a couple different ways to do that You can control the property through a lease where you get the owner to sign on and get permission from that the best case scenario I love that because you don't give the owner any of the profits The agreement I have with owners is I keep all the profit and I just pay them what they're asking for So they're already looking for a renter and I'm the renter So you basically find properties that are for rent already for rent already in the market on the market Mm-hmm, and they're actively where do you look to find them? Okay? There's a lot of places. I I look online, you know Craigslist surprisingly is still a great place to look local papers I do drive through neighborhoods signs in yards for rent signs I thought you said I thought you were gonna say you do drive by I do try I kill one way to control Give me these homes you kill the owner and then you get it for free Yeah, no driving through neighborhoods is good because you're trying to get to the owner not the property manager and usually the owner will Will put a handwritten sign in the front yard. So you know, oh, that's the owner. Okay, so I look I drive neighborhoods Local real estate investing associations are great because people they're generally own a bunch of properties You can get one which leads into many properties So you're basically presenting yourself as hey I'm the best tenant that you could lease this property to and if you lease it to me I'll lease it for many many years and And essentially just pitch them on the idea of what you're going to do So you you are open and honest you tell them look I'm gonna put this on Airbnb because you don't want to surprise people No, you know, you will get burned. They'll you will get burned if you do get a contract and push kick you out Yeah, they they could sue you and they could who knows so so do you have a special contract that actually? Yeah, they actually sign saying they understand what you're gonna do It's an addendum so she's a standard lease and then a one-page Addendum essentially an add-on that just says Brian page is not gonna live in this property And he has my permission to put this property on the home sharing sites and let guests stay there Yeah, and and so once they sign those two documents, then I'm good to go Yeah And so that's that's the way I like to do it because I get to keep all the profit for myself The other way is to partner and that's just simply like hey Ty I see you got a house here for rent. You're asking a thousand dollars What if I get you 1500 or 1700 a month for that property with no extra work on your part? Yeah, would you want to hear about it? Sure. Yeah, tell me how that works. Well, I'm gonna take your home put on Airbnb I think it'll make 3,000 3,500 a month will split everything over the thousand dollars that you need to get for your for your normal rent So you'll basically give them what they would guarantee you a thousand and then 50 50 above that Yeah And if you don't like it tell me to take a hike in in in 30 60 days I'll walk and yeah will part ways so that's a great model to go and you look for furnace properties if you're gonna And that's a good way especially for people who maybe Don't have good credit and can't actually lease something because don't need credit You don't need credit and you're not even signing at least Yeah, you don't need to sign any paperwork I'll let you be able to walk away from it if you don't like you can walk away I mean you want to put an agreement together that says this is our agreement But it's not a lease that ties you in for any period of time So for anybody listening who's a little more fear-based. This is a good way This is the way you make a little less money potentially because you don't control the property All the upside because for you if you rent it for a thousand and you can figure out like in high-season in South Carolina When there's a lot of people vacation you might make five or six thousand that month Yeah, exactly you can get lucky if the hotels are full and there's a special event in town You know just jack the prices up in air on Airbnb big time. I was here You know here in New York, I landed coming back from London and it's fashion week and like everything is jacked up Yeah, even it's like uber has their surge pricing. You can do the same thing with Airbnb. You can search. Yeah, so, okay What let's talk about I got people who follow me from every place on planet Earth All over the US obviously, but almost every continent First of all, where do you find? Properties in terms of not within the city, but are there cities way better than others? Do people have to move? What if they live in Detroit, but want to do it in Chicago? Do you have people doing it remotely? Do you recommend people move? What about other countries? Regulations, okay. Wow. Okay. That's a lot. I throw out like 66 six questions Let's start first of all with international because I love talking about international There are I have 38 countries represented people that I've taught directly that have okay gone through my training and that are Because Airbnb isn't how many Airbnb is in every country, but North Korea Yeah, and I'm maybe Syria right now. You know North Korea. You probably don't my target market is North Korea I'm trying to crack in there, but you know, it's it's not a not a good market pretty much Donald Trump. He's got a relationship Kim Jong-un There might be some money there No, it's in every country and 75% three of every four listings are not in the US right now Huh, so yeah, most so Airbnb is bigger outside the US way bigger outside the US and it's growing faster And there's more opportunity outside the US. So I'll give you an example a couple different trip I've I go to several countries a year. I was on the 16 country tour and I was in Egypt and the guy that was giving me a Camel ride around the pyramids had an Airbnb and I asked him about it He said yeah, I make more money with my Airbnb than I do as the guide So when I'm you know, I'm bored. I'd come to you know guided so he was doing camel rides for fun He was doing camel rides, but Airbnb was paying the bill. Yeah, Airbnb is paying the bill So so then I went to Costa Rica and was was whitewater rafting down this river in the rafting guide pointed to this house Right as we went by a beautiful house right on the like a fatsteroof hut kind of on the river And he said that's where I live. I said that's gorgeous You know this incredible river and he said yeah, I'm thinking about doing something called Airbnb Have you heard of it? I was like, yeah, I've heard of it. You should have said you don't even know who you're talking to right I've heard of it. So I said, how much do you pay in rent there? He said 200 a month That's standard for Costa Rica 200 a month. He said, do you think I can make money with it? I said, dude, I just paid $65 a night for the hotel down the road and it's a dump Yeah, I'd much rather pace you $65 to stay there And you can do the math pretty quickly and see how much that could be worth to him Yeah, you'll make a fortune if you put that on Airbnb So there's huge opportunity overseas with with this so it does work in other countries Really the only thing you got to know is is can you have access to the property? Can you get permission to use the property right and if you can you can put it on there now in the US? Aren't there some cities that have some regulations? Yeah. Yeah, so we're that's a good one I want to unpack because this is something that most people do not teach. They don't even talk about it Anybody who talks about Airbnb won't touch this So we spent a lot of time doing research on what's going on with regulations right now because Airbnb is a huge Disruptor just like uber. Yeah, they were fighting it in Vegas They wouldn't allow uber in certain cities and then uber started winning all these cities Well, Airbnb is disrupting not only the real estate industry. It's disrupting hotels. Yeah, and the cities that have the most powerful hotel unions and hotel Brands like New York City, for example. Yeah, let's see San Francisco big cities like that It's very difficult to do Airbnb in those cities. Yes, and so I spent Significant sum of money with a research firm to go through 2,000 cities in the US we researched every city over 30,000 people and whether or not here home sharing is allowed or not allowed Yeah, we found 92% of them allow home sharing, huh? So 8% are what I call red cities Yep Now that doesn't mean you can't do Airbnb if you live in those cities You just simply have to go to the surrounding metro area. Yeah, like if you're in San Francisco, you can go I've got students in San Francisco. They're killing it or something like that or yeah Yeah, Atlanta proper but you can go to any of the towns around Atlanta And the interesting thing is I have students that are doing it in those areas despite the rules because half those cities don't enforce the rules at all Right, so I'm not saying you should break the rules But there are there are people making a ton of money Right doing it despite the rules and if you doubt me just look up any city on Airbnb And you'll find you'll find thousands of listings including Manhattan for example even the places you're not even the place You're not so Airbnb is just like you can post everywhere. Yeah, it's like a whack-a-mole You know, you know So I think the best way to build the business though is to do it properly and do it in a place that you're not going to ever Be shut down where it is allowed where it's unrestricted and there's so many cities you can do that And even if you're in a city that's restricted like Manhattan You could go out in a New Jersey go across the river West Chester. So I got students in New York I got students in yeah every major city. Yeah, so that's how you get around the regulations You just go where it's allowed the same way if you're going to for example open a business if you're gonna open a Subway you couldn't do it in a residential neighborhood right go to where it's commercial So it's it's zoned just like anything else in real estate. So okay, so next so let's I'm walking myself through this. Yeah You've got the property you found the location. You found somebody you're either gonna split with them or you're gonna Own the lease or set or control the lease yourself. Mm-hmm next step is how do you keep it full? Because this whole thing it's like a hotel a hotel goes broke if Only 30% of the time people are staying in so how do you get good at putting a listing on Airbnb? Are there other websites that you like to put because I know you kind of lean towards Airbnb? Yeah, some people do VRBO and the home way and different ones Mm-hmm, so let's talk about the nitty-gritty of like getting your first paying customer because really these are your paying customers Yep, and then what let's talk about that. How do you get them and then we'll talk about how do you manage them? But how do you get them? Sure? Well, Airbnb is by far the largest platform. I have used VRBO I do like VRBO for for high-end luxury properties and for truly vacation rentals Most people think Airbnb is vacation rentals and that's not true Vacation rentals is a whole other thing. So if you're at the beach and you're renting a big house in the beach That's a vacation rental, right? If you're in a You know Des Moines and you're renting a two bedroom condo. That's not a vacation rental Yeah, so you mean Des Moines is not a great place to vacation. It's not a hot spot in the world I got a lot of haters now in Des Moines. Sorry. Where should we go for summer break? Don't go to Des Moines! Des Moines! Miami? Des Moines Yeah, don't go there. That's a city that I've never been there, so it's probably a lovely city There's certain cities you forget actually exist in America Des Moines, it's like have you ever met somebody? Where are you from? Des Moines Peoria Or how about Delaware? There's no one actually from Delaware. There's corporations A lot of corporations But have you ever met somebody that's like where'd you grow up? Oh, Delaware! Yeah, Delaware and Rhode Island is even worse Rhode Island, yeah, but Delaware is big. Rhode Island understands I think there's like 12 people in Rhode Island 12 actual people in Delaware in Rhode Island Okay, so you like Airbnb? I like Airbnb. It's the largest platform. It has the lowest fees Yep, much lower fees and you quite frankly you don't need any other platform to build what I teach So that's why I focus on Airbnb So keep it simple Keep it simple, it's like you could sell on eBay and you could also sell on Amazon, but you just do Amazon, you know, it's that kind of thing So I like Airbnb as a platform The cool thing is all the years I've done this and all the people I've taught, thousands of people None of them, including me, have ever spent a dime on advertising So we don't spend any money on social media, we don't have to build a website We don't have to spend any money to get people in the properties. Airbnb does all that for us So the key is to have the best listing of its type in your area Because you're basically only competing with other Airbnbers Yep And luckily and thankfully the vast majority of people, I'd say 98% of people on Airbnb don't know what they're doing So what do they do wrong? Bad pictures? I've seen some bad pictures Bad pictures, like dark Oh yeah, bad staging They don't know how to stage a place as lovely as this for example They don't know how to stage it properly, they don't know how to paint a picture So for example, if I have a place that has a view that I want to not just show the view out the balcony I want to have the Wall Street Journal and a coffee and a croissant sitting out there So it's like, oh, I could see myself sitting there So it doesn't have to be super expensive It doesn't have to be expensive You could buy a croissant You could pull a croissant out of the trash can outside of bagel bros if you don't have much money Put it there Yeah, how much does it cost to get bath salts and a couple candles and put them around the jetted tub There you go So it's the same thing hotels do Just don't ingest the bath salts No bath salts Lay low on the bath salts So it's the same thing hotels do When you see hotels and they look amazing on Expedia and then you get there and you're like Wow, this is a small room and it's nothing special But they spend a lot of money on the photography Burger King, same thing I had a friend and there was like a new burger out, I forget where McDonald's or some Burger King And he went there and they served it to him And it did not look like the great picture And he's like, came back and he's like, I want this You know, I actually want to look like Yeah, and it's like his one was like, bling It's flattened So you probably don't want to mislead people because then that's No, you don't want to mislead people You can get flagged on Airbnb too, right? No, you want to show If you get too many complaints No, you want to show what's there, whatever you're doing You want to show what's there But you want to stage it properly Lighting is very important so we're lit right here You have to have it lit properly You want to bring a professional photographer in As we have a couple of these standing around You want to have a wide angle lens camera Not an iPhone generally And most people don't go to that trouble Because it is a little bit more hassle to go get a photographer Like I hired a photographer a couple weeks ago Paid her $145, she's a real estate photographer She came in, took her one hour And the photos of that place when she was done I mean, it's stunning But it's cheap $145 might make you an extra $500, $600, $800 a month Yeah, you get one extra day In the next month you paid for your And you don't have to do pictures once You can pretty much use them If you control the lease for years You can do it once, yep You can do it once So photos are vitally important Studies show that you can get up to 300% more bookings with the right photos So I'll give you an example One of the condos I have Is in a building with other condos And it's a one-bedroom And the other one that's listed on Airbnb Is a one-bedroom in the same building Same floor plan And I can charge $100 more in-night from mine Because of the way it stays, the way it's photographed It doesn't even look like it's in the same universe As the other listing And so when people are looking to book They're like, do I want the $100 place Or the $300 place? I can afford the $300 I'm going to go with that one And it's the same thing It's just the way it's marketed And the way it looks So the furnishings are important All those kind of things are very, very important So I teach people how to Do you try to get places that are furnished? Generally I do I always look for furnished places Now some cities There's a lot of furnished places And other cities there's few So if you don't have a furnished property Then you do have to invest into furnishings If you're going to go with a vacant unit So pictures, massive One good thing I tell people is Everybody, if you can't even afford $145 You probably have a friend Everyone thinks they're a good photographer And you probably have a friend Who's a better photographer Who already has a wide-angle lens And a DSLR, like a better camera So you come in You light it Maybe bring some lights I mean you can get cheap lights Believe it or not, sometimes We have these little panel lights you can use And you can just bring a friend with you To stand like a tripod Hold this up and let's light this thing It's not just lighting It's simple things Like I've seen photos of places Where all the blinds are closed So every window should be wide open In fact I pull the blinds all the way up Every light should be turned on If you take a photograph of a bedroom And both of those lamps are off That's not as inviting as having the lamps on It's soft lighting All that kind of stuff And you have a book, right? Does it go over some of this stuff? The course of the book I basically talk about more the money side Than the numbers side But yeah, I do have a book For those of you watching I'm going to put a link below In the description For those of you listening Just go to tylopez.com Slash Brian P That stands for Brian Page B-R-I-A-N In the letter P like Paul Brian P Okay, so you got the book You have the course Because I know I'm going to get bombarded With people going Already the people Some of the people in the audience Listening right now are like I want to do this, so So the staging and all that stuff Is very important But the numbers is really important So let's talk about the numbers Yeah, let's talk numbers The pricing, how do you price it? Yeah, right? How do you price this thing? I like your model of You just charge 300 Everyone else charges 100 Yeah You can literally do that It's the Wild West, right? Well, it's kind of the Belief I have is Anything will sell at the right price, right? Yeah Anything will sell if it's the right price So you want to test the marketplace You want the marketplace To tell you what to charge Yes So I try to charge as much As I possibly can Yep Every single week Until the booking stop Yes And when I hit that limit I'm like, okay, I know 300 is the upper limit Nobody's booking this place Then I'll start lowering The price back down And see what happens And what I do also Is on the vacant days I slash the prices aggressively It's the same thing hotels do Same thing airlines do Yeah, airlines Yeah Some people are like, oh, is this Ethical to change the price? I'm like, well, next time You're on an airplane Ask anyone sitting next to you What did you pay? They did not pay the same as you It's crazy It's the same And so hotels are the same thing They're, it's called They basically call it, you know It's, they load balance Dynamic pricing Dynamic pricing is their thing But I think of it as load balancing They go, all right, this room This section of the hotel Has nobody in it Drop the price This one, the suites Are all being booked Jack the price through the roof Vegas does the same thing So you keep it simple You rent it for a week Let's say at 150 bucks Then when the people move out You say, let me try 200 And then if it gets rebooked Well, what I do, what I do Is I always charge more On the weekends, significantly more Because on Airbnb Your weekends are going to fill Immediately Okay So I charge more on the weekends How much more? Like on 100 For example, if I'm charging 150 on a weekday I'll charge 2 to 225 On the weekend Maybe 250 So you'll go up Maybe 50% Or 50% more on a weekend And what I'll do is Let's say I'm listing a property For the first time I just listed a property Two months ago And it was brand new I didn't know It was in a neighborhood Where nobody had any Airbnbs And I'd never been in that neighborhood And I listed it I just said I'm going to just pull A big number out Like $300 a night And see if anybody books it Well, I had like two bookings For over the course Of the next 60 days And I thought, well, that's not very good So I let it sit For another few days And then I lowered The price to 275 Now I got more bookings So now I suddenly got Like, say the next 30 days book I'm happy with that 30 days out is fine So I know it's around 275 Is that a goal? 30 days out? 30 days out Because what I don't want to happen This is the biggest mistake people make Is they'll pick a price And then their calendar Will have it open And then suddenly All the weekends get booked out For four months And I'm like They're like, I'm so excited I'm like, that's not a good thing Because you probably underpriced Those weekends If they booked out that fast And also sometimes You're going to lose out On the weekday Someone just took the cream They took the dessert And you're left with the vegetables Trying to sell the vegetables Exactly Exactly So you know the weekdays Are going to fill not as fast And so let's say the weekdays Start filling up at $150 a night And then I have this Ten days on my calendar That I can't fill Most people will just let that go And they lose that money But what I'll do is I'll cut the price even further So if I charge $100 a night On a unit that I'm getting As much as $300 for Or $275 for I will have gained Another $1,000 a month on that Yeah So you can charge less And make more It doesn't matter what you charge It only matters what you bring in And any vacancy you have You're making $0 that day Yeah, hotels Like in the hotel business I have friends in hotel business All they're tracking They're key metrics Occupancy It's occupancy rate And they're trying to stay up In the 90s And things like that Because you start getting down In the 60s and 70s That's the break-even point You're just Making back your cost You're not making a penny Well the average right now According to AirDNA Which is a data research company Is around 63% Of days we'll get booked Which isn't good Which isn't good Now my students are up in the 80s On average And I'm up in the 90s Plus for most of my listings Yeah So that's all Because really the profit is like Probably starts kicking in Around 60s You can still be profitable there Yes But you're not wildly You're not wildly That's like Making $800 a month On a small one better unit Versus making $1,800 a month Or $2,000 a month Yep Or more Or more So we've gone into Where to look for properties How to list them How the heck do you manage all these people And ideally automate it Because you've got 12 properties You guys said you're looking at what Another 15, 16, 17 Package of 17 So you don't want to go crazy Because obviously when you're managing Airbnb People are annoying They're like I can't get in the room Where's the key It's dirty I mean I can imagine All of a sudden You're almost like babysitting people So how do you Manage that in a scalable way That also you Life is not just about making money It's also making money With good quality of life Of course So what's the automation secrets Okay so When you have one or two listings On Airbnb It's cute It's fun It's easy to manage When you start getting 5, 6, 10, 15 listings It gets to be a lot of work And essentially What you're doing is You're running a hotel But it's a distributed hotel So instead of rooms all in one place It's easy to manage You've got rooms all over the city Or in multiple cities Multiple states You're trying to manage All these things And that tends to be a job So you have people That are messaging you First of all They're reaching out to you To say hey Will you take a discount On these days Or will you allow me to book Or can I bring my Shih Tzu with me Or all kinds of random stuff They'll reach out to you about And so you gotta accept Or deny their bookings And their requests Then when they come Stay in the place They're gonna have questions You know Like where do I go To find a cool restaurant Or you know What's the address again How do I get in Where's the key All that kind of stuff So when you do that Multiply by Let's say Eight guests checking in Out of eight properties Every single day Ends up being a lot of work Just the messaging itself Now you have to coordinate The cleaners So the cleaning crew has to Come in And they gotta be coordinated And what if something breaks Who's gonna take care of that Who's gonna fix something If it breaks So all these things Have to be made Or if they crash it Or if they crash What hasn't happened Knock on Fabric But That's good So nobody's Nobody's trashed I've had messy guests In fact I've almost I don't think I've ever heard Of a student that said Look somebody destroyed My property Does Airbnb have an insurance policy Helping you So that's a nice They have a one million dollar Host protection insurance Where they'll pay out But I recommend going A step beyond that And getting actual insurance It's very Inexplicit Privately Yeah You get Short-term rental insurance On each property And you make The owner of the beneficiary So they're protected The whole place burns down But yeah That's paid for I have a property That I had In La Jolla, California This was an Airbnb Yeah And my property manager Who's a friend of mine Joey he came in He said listen Ty They were just diagnosed With cancer of the husband They can't pay the rent So I said He said We're gonna have to victim They haven't paid the rent I said you know what Let's be nice They asked for a little more time I gave him a little time Gave him time Gave him time I ended up giving him The whole summer I could have rented it out Yeah And Finally we're like Listen it's been three months August you're gonna have To get out They trash the whole place Spray paint it What's the saying No good deed goes unpunished I was going No one else in America Will just give you Three months summer In La Jolla It's a nice area So I'm glad that with Airbnb I wonder if people Feel more accountable It's a mentality Yeah It's a mentality of ownership Versus non-ownership Because a tenant feels like They own the property Even though they don't They're like this is my space Yep It's my I got a year here I got forever here And a guest doesn't feel that way When they're staying for two days Plus Airbnb Probably has their credit card Everybody has their credit card I could see Airbnb Going after people If they smash Well they will Because you can charge a deposit So I can request $500 hold on a credit card Okay And that holds not released Until two days later Or three days later Do you do that Oh I do Yeah Occasionally I do it If I'm gonna allow pets That hold A deposit on that If there's any damages Somebody's like Can I bring my grizzly barrier Like Yeah So you can do a deposit $5,000 Okay So that's a good little Little side tip So What else Okay So how do you automate All the phone calls All the maid services All this stuff Because people listening I know my followers And listeners They want to scale this thing Up and at least Make 10 grand a month Yeah Of course And that way That was my goal That was your goal That was my goal when I started out That's a good goal I mean $10,000 a month Put it this way The average doctor in America Believe it or not Makes $120,000 a year Yep So if you can And that's somebody who Went to 10, 15 years Of medical school And college Has a lot of debt Yeah And look I'm not saying We need more doctors In the world I'm happy for everybody Who does that I'm just giving you A comparison that We're laying out here For free On this Realistically Yeah And you've had people Build this in less than a year Right Less than a year Actually, let's break it down $100,000 divided by 12 This is roughly $8,333 Yes You could do that With four properties Yep A little over two So you only need four properties You could do it Well, let's say you made Less than $2,000 a property You could do that With six properties I've had students Have done it with two Where they're making Four grand and four grand Per month Net So we're not talking So But you want to Scale it even more than that I would hope Once you start doing this But what happens is You have all this Management, essentially And I was so excited To quit my job I quit after about The fifth listing I quit my job And I thought Okay, I got all the time In the world now But then it started creeping back This business started taking More of my time So I started thinking Okay, how can I emulate The hotel industry Everything I did was based On the hotel industry I would look at what They're doing And try to do the same thing And I said, well, you know Hotels have a front desk And I need a front desk manager I need somebody So what can I do Well, I could create a virtual Front desk How would I do that? Well, I need somebody That can message these guests back Coordinate with the cleaners Do all these different things And I started looking around And I found out There were actually services That do this They'll take like 5% Of your income On Airbnb And then they'll manage it All So there's services That do this There are also VAs There's a lot of VAs now That specialize in doing Nothing but managing Airbnb So you can go on To find a VAs So you go to Upwork And you search Airbnb management Yeah And you'll find people pop up VAs, by the way, Stands for virtual assistant Yeah, virtual assistant Yeah, so virtual assistant So this is the way Everything's going nowadays You don't have to get a VA In the stage You can get somebody In the Philippines Or whatever As long as they speak English Yeah, they need to speak English And they probably need to Be able to get on the phone Once in a while And so you Essentially You teach them How to do the management That you do Now, do you put A phone number If you have questions Call or email this number Live chat Well, Airbnb requires That people be able to text you And call you So you have to have a phone number In there But it doesn't have to go to you Necessarily So you don't put your phone number What I do is I tell people Please don't call me Or text me Message me through the app That's the best way to reach me Because I want to teach them To go through the app Which is going to be watched By my VA, for example So Airbnb app They message you People Direct messaging Has a whole internal system And you can give Virtual assistants Access to that You give them access How many VA's does it take For let's say You've got 12 properties Do you need one full time That you're paying Five grand a month Two grand a month Three grand One And it's 20, 30 hours a week Times whatever you're paying Five dollars an hour 10 dollars an hour 15 depending on what you're Paying So it's costing A thousand bucks Or something It's not much at all What I've found Is across my business It takes about five percent So 95 cents of every dollar I get to keep If I outsource Pay five cents And do nothing Then make a hundred cents on every dollar And do it all Myself So I'm always looking To outsource And automate everything And by the way If you click the link below You go to TylerOpus.com That'll redirect you To specific information Because there's a whole list You can get my book Yeah, you can get the book The VA's It'll give you We talk about contracts The addendums You give some samples of that In your course And things like that And the list of all the 2000 cities that you've researched In the U.S. I'll show you the specifics And in my book I break down I show you each property These specific numbers What I'm netting on them Exactly all that stuff Yeah, so TylerOpus.com Slash Brian P. Grab the book Okay, so now We kind of got a complete system Let's talk about Let's take devil's advocate Here Let me be the devil's advocate Because we all Everybody in this world Has become more and more cynical I'm not sure why The world's actually better There's more millionaires Now than any time in history There's more people Making sick figures In every country in the world Than there's ever been But still It's evil capitalism That's what the problem is Cynicism is up, okay So let me play the cynic here For a second As much as that pains me to do Because they're The thorn in the flesh Of people like you And I that are like Optimists and be like Hey man You can always see The cup half empty It's like If you go down I tell people Be careful going down Because what you focus on Happens You know It's kind of like If you're dating someone The second you start Focusing on their flaws It's not going to be long Till you're going to break up Because everybody has Annoying things about themselves So And the biggest limitation Is belief It's not opportunity Always belief Because look at this This is like Airbnb This is the most legit thing One of the largest Fastest growing companies In US history You're using a platform That is in no way a scam But people are still Going to think this is a scam Devil's advocate Number one I don't think I can Convince somebody To do a profit share With me Let's say I'm the I'm Ty I'm broke I have no credit in this Or my name is Bob Let's not say Ty I'm Bob I got no money No credit No down payment I'm not going to be able To lease a place And I don't know What to say to somebody Okay Like Let's say I'm 19 years old And I walk up Hey Well you let me Control your property And I'll split the money With you Like how do you convince people Do you give them a flyer Do you show them A slideshow PowerPoint deck Do you just go in And read a script to them Do you email them Do you try to talk to them In person What do you say Okay Well I Was a landlord For many many years As real estate investor Had a whole bunch of units That I was renting out Long-term to people So I know what it's like To be a landlord And I had to kind of Put myself in the shoes Or people were like I don't want to do that And I was trying to ask myself Why And I would ask them that I would say why You know don't mind me Asking I'm not trying to convince You just tell me why You said no to me And they would say Well here's the reason Or here's the objection And when I started thinking The more people I talked to And the more I thought about What I wanted as an owner I was really only looking For two things If you convince me That you're going to pay The rent on time With no hassle And my property will never Be damaged In impeccable shape I will lease to you And I generally will lease To somebody like that So all I had to do Was convince an owner That not only will I Do those two things But I'm the best selection Of any of the people That are calling them And then I give them Several reasons why So I give you I like to play the Tenants versus guests game So we'll do this right now So I'm going to say A statement and you say Whether you think it's A guest or a tenant In other words Somebody signing for a year That would most likely Do this So somebody let's say Works on their car In the driveway And spills oil everywhere So wheels off and leaves it There for six months Is that going to be Yeah, that's a tenant That's a tenant, right Not an Airbnb guest Not an Airbnb guest That's probably uber it in, right Right Somebody's dog destroyed The backyard Filled it with holes Over the course of the year Yeah, tenant Not a tenant, right I don't allow pets In most of my listings So you can't bring Your dog there Somebody refuses to Leave the property Right You have to evict them For sure, tenant You never have to Evict an Airbnb person Because there's no lease They don't have any They're a guest Yeah, nobody says Hey, I've been here two days You got to evict me now The police will put them right out You got to evict me now Yeah So that doesn't happen And then Let's say somebody Starts modifying the property They start painting The interior weird colors They start, you know Removing things Removing, you know Changing things About the house Without permission of the owner Yeah, that's all Put a satellite dish on the roof That happens all the time That doesn't happen So basically What you're saying is You tell people A tenant's way more dangerous In many ways Yeah, I say Look, my guests Are going to respect your property And it's going to be kept to The kind of condition That you've never seen before Because every couple days I'm going to bring my cleaning crew in Right And you get to come in, too If you want to come in And see your property on Wednesday Come on in Because I have a window Because with a tenant You usually don't go see The property for one year They could be very You have no idea What you're in for When you go back and look at Like you did I have a property Still in North Carolina And I rented it out To this guy Who was kind of a friend To my acquaintance I went in there I was living in California Never In the history of planet Earth Have you seen a nastier place So I walk in And I'm like There's some kind of a smell here Maybe he's like The next door neighbor Has like Nuclear waste or something But what I opened up the dishwasher It was like cracked And hundreds of flies Came out of it It was maggot infested He would just Like eight miles? Yeah, he would eat And then put it in the dishwasher But not turn the dishwasher on I'm going What retarded brain I mean The hard part is putting it In the dishwasher There was stuff in there For weeks, months So I I had I got him out of the place And I hired a cleaning crew And I was like One lady And she was like I need like help She was like This place got me fumigated She didn't have some attitude But that would have never happened With a guest Because that's a good point So you basically tell people Let me control your property We're doing our profit share Or I'll lease it from you It sounds scary That I'm going to let Airbnb people in But they don't They're not there long enough And I'm sending a cleaning crew Every three, two, three, four, five days Yeah, your property will look like These beautiful photos That I'm making here every time Every day Yeah, because it's also In your best interest As the property hacker I won't make any money You won't want the place to get destroyed Or you're not going to be able to re-rent it out So your interests are aligned Plus you could Do you ever mention that Airbnb Has a million dollar policy? I do, I mention that And I also tell them, look I'm still going to commit to you for a year So if I sign a lease with somebody I will commit to you for a year These guests aren't going to pay you the rent I'm going to pay you the rent So you don't have to worry about that And then I tell them, look Your property is going to be covered By the host protection insurance Because Airbnb gives every single host A one million dollar coverage Of insurance And then above and beyond that If you'd like me to I can insure your property And I don't offer this unless they ask But there's insurance companies now That's all they do Is they do short term rental insurance So for 50 or 80 or 100 dollars a month Which isn't really that much If you're making money on these properties You can fully insure the property Not only for If somebody were to burn it to the ground Or damage the property But for liability So somebody sues the owner Or something like that Does the Airbnb million dollars cover that? No, I don't believe that does And they don't call it insurance anymore And anybody in the insurance industry Would say it's not insurance It's Airbnb discretionary money That they can use for whatever they decide And they do cover for most damages So basically I tell them Look, your property is going to be covered And then I would ask them a question Like when was the last time a tenant Told you that they would insure your property With their pay for it themselves Have it professionally cleaned Two or three times a week And I'll also take care of the minor maintenance Yup So I'll tell them that to you So you'll offer that So I'll offer that I'll say anything under 100 dollars I'll cover So if the toilet gets clogged I'll never call you If something small breaks Whatever I won't call you for those things I'll take care of them Now why would I do that? Because I know I'm going to make money On that property If I'm making two grand a month On a property What's the big deal Of every few months Something breaks And I got to pay somebody The major stuff They're going to have to do Major stuff they still cover The roof caves in Or something Leak roof leak Air conditioner doesn't work They're going to cover So that's a good So I walk through those things So by the time I'm done If they're just willing to hear me out They're like, wow Okay, that is interesting I got to consider this And even if they don't do it at that point Then I might say to them Hey, I'll pay you a little bit more money You're asking a thousand What if I gave you 1200 And that'll usually sense the deal But I don't really care If four out of five people say no to me Because it's not a big deal To set up five appointments On a weekend, on a Sunday Go look at five properties And one person says, yeah, I'll do it It's just a numbers game It's a numbers game Do you ever approach people By email or your preferred person I've found that it does not work Because they, remember They've got all these emails coming in From truly prospective tenants That are like, hey I want to see your property on Saturday And you're sending them something else That they're like, wait I don't get it So I don't ever like to pitch them Over the phone or on email Only in person And after I built rapport with them Do you ever work with realtors Find a realtor and say, look Every property you find me And get me in front of the landlord I'll pay you 300 If they're my friend, I do But most realtors don't get it And they look at it as Too difficult to explain to an owner Right And they don't want to do anything That requires extra work on their part And they'll butcher it They'll go to the client And they'll butcher you Trying to explain to them That's an opportunity, by the way For people listening that are realtors Specialized Specialized in helping match up Huge People like you Property hackers with landlords With landlords that are on the MLS With rentals And take a cut And the other new thing This is something that I haven't talked about before Is this super awesome source For finding properties now Is to go look at properties Are on the market Yes, for sale And offer to lease option them Yes, there you go Yeah, so, okay I have a student A guy who follows me Named Tony He might have met Tony Galena And he I actually Me and you You teach in my Yeah Home sharing HSMC Yeah, HSMC Home sharing management company Program that I have on TylerOpens.com And also Tony's one of the teachers Is what he did He went down to I think Destin, Florida Somewhere like a little Vacation spot in Florida Not Miami He bought a house Or he did a lease option For 300 grand He's gonna pay it off In under three years Nothing Yeah I mean most landlords Will buy a property They can pay off Using the rents In 10 years He's gonna do it He says conservatively Three maybe two years My most recent property I purchased I'll pay off in two years Yeah So you do a lease option By the way If you don't know what that is You go into a property That's for sale You say Listen, I'm not quite ready To buy But I'll lease it And a portion Of my monthly rent If I decide To buy Will be credited Towards that And you can Generally decide On a price Ahead of time The market goes up Sometimes you have to pay I don't know If you're having to pay A little lease option Premium It depends on how motivated The person is What about For people who lease options Too complicated Because that is a great way To start That's more advanced way But the cool thing with a lease option Is there's zero risk Other than the money You put down So I can say Hey Ty I'm gonna give you $100 for this option Which gives me the right To buy your property For $300,000 Up to two years from now And you're like I'll take that deal So I have this lease And two years from now That property's worth $340,000, $350,000 Whatever You locked it in And I locked it in Now when I get out of my B&B I just made $30,000 After paying the realtor Or something So I have a And if the property value Goes down If there's a recession There's no risk You walk away It's a auction Now what about going To People who have Properties for sale If you don't want to do A lease option Just going You look for properties That have been on the market Too long Eight months ago They weren't making you Some profit Oh yeah You look for Stale listings Yeah, stale listings There's lots of stuff That have been on the market For 6, 12 I mean their stuff Been on the market More than 12 months And you know what we do A lot of places We look for places That are furnished Because we see it In the listing It's already furnished And now we have A furnished property That's sitting vacant Not making them any money And we say to them If you're not willing To lease it to us For the full time Why don't you just Lease it to us Free money for us No long-term commitment And you say Well, make sure it's cleaned You just give us A 30-day notice So if we have bookings We don't accept bookings More than 30 days out We cancel And walk away And usually if they Actually sell the property Things usually take More than 30 days to close Usually generally So that's a whole Another source of properties So somebody asked me Don't you think there's Enough Are you running out of properties Are there enough properties To do Airbnb with And I said There are millions of Properties every day Coming on the market Definitely on the market For sale but on the market For rent And the only people Getting hurt by this Is the hotel industry Yeah, the hotel industry Is not happy Because people ask What's the catch Like Brian, Ty If you're talking about this One, why isn't everybody Doing it? My answer to that is simple People are a sheet They take a long time To catch things Why doesn't anybody Do anything? I remember the first Time I tried to flip a house I told my friends I'm going to make 35, 40 grand on my First flip And they were like It's not easy Everybody would do it And I said I just made 35 grand On my first flip And they were shocked But the reason Not everybody does it Is people just won't do it Yeah, people are The simple reason Is people lasing Procrastinate And don't have common sense The other thing Is that The other reason Is that People If you understand psychology There's something called Commitment Consistency Bias If you look at Sigmund Freud He talked about the ego The id Super, you know There's all these And one of them Is this story We tell about ourselves So what happens is Traditional real estate Investors They've built up their life Their friends perceive them As like I'm the guy who buys And flips properties They watch the TV shows They identify with that When something new comes People just blindly Let it go by I was reading The story about John D. Rockefeller Who became the richest man In the world $600 billion In today's dollars I mean this guy Had more money than Bill Gates Jeff Bezos Buffett Everybody combined Were like juniors to him And What he did Oil came out Okay Oil was found In western Pennsylvania But back then Nothing ran on oil There's no cars No airplanes No plastic So People lit their houses With whale oil Yeah And there's kerosene And kerosene Was a byproduct Of oil So he started selling kerosene Now you would have Think the whole world Would have caught on But no People who already had Their whale oil supplier Yeah The big fat cats That are rich on whale oil They're like Well it's been good enough For the last 20 years I'm going to keep Lighting my house With candles and whale oil And John D. Rockefeller Said no I've got something better Petroleum Then there were steam engines And he was like Well let's do Combustible engines Are going to be more powerful Henry Ford So there's always a window Of For Rockefeller There was a window From let's say After Civil War 1870 To Early 1900s 20-30 years Where Nobody saw The trend Now Here's the good news And the bad news You don't have 20 or 30 years To get on The Airbnb thing Because people are getting More savvy We're still early In the wave 5 years from now It's not going to be as easy Everybody's going to be doing this Yeah It's really only gained It's huge momentum In the last 5 years I would say And it's still growing rapidly Even I would say Even now Maybe even less I would say Only in the last year Consistently Have my friends gone I'm not going to get a hotel I'm going to get an Airbnb A year or two ago You go to London The awareness is widespread But if you ask 10 people Have you stayed in an Airbnb The numbers are still Very, very low There is a book Everyone should read Crossing the chasm It's a very famous book They make you read it in business school You're not going to go to business school My friends who went to business school Told me And there's early adopters But most people are pragmatists And they will only do something When two or three of their friends The laggards Yeah So basically The average person Hasn't done Airbnb yet But they have two or three friends Who have So now is Right now Literally And those friends probably have a room On Airbnb Which is not the same thing Right, not the same But 1999 2019, 2020 That's your window to do this Maybe 2021 Because you can come in Landlords are wide open Yeah The second more landlords Start getting approached by this They're going to get pickier And go, okay When the tide changes And all the landlords say Oh, no, I'm doing it myself That's right Which is not happening right now But it will It will There's a car over here I was driving with a friend of mine We were talking about How every great idea Sounds stupid before it's not And we were talking about Groupon Because he got approached by this company That said Hey, we want to take these coupons And we're going to do them digitally And he's like Well, that sounds stupid It ended up becoming Groupon Yeah And I said Well, that's the same with Uber Like getting a stranger's car And pay them money Yeah Airbnb going a stranger's house And pay them money That all sounds stupid until It became part of the culture One of my mentors He used to tell me Ty, if you tell your next door neighbor Your idea And they like it It's too late Too late? You want people going And it's not innovative Yeah, it can't be Yeah It needs to be a little weird Sometimes I say stuff And people are like Ty, that's just weird And this is how you shut down Anybody who calls you weird Just say Well, it's kind of like Albert Einstein said The thing about smart people Is they sound weird to dumb people I'm telling you That shuts people up It's like a backhanded slap And then people go Are you calling me dumb? I'm like No, I didn't say anything Einstein called me dumb It's like a very subtle insult Can you argue it? So a lot of people see Airbnb And HSMC And what you're teaching And they go Oh, that's a little too weird I'm gonna stick with traditional Real estate investing No problem I mean, there's still money To be made in real estate investing But think about this Real estate investing All hinges on income At the end of the day It's all cash flow It's all cash flow Even if you're flipping It's still cash flow So you gotta ask yourself How do I stay on the cutting edge? Because if you study the last hundred years Of world history Who got the riches? It's always people on the cutting edge Like I said Rockefeller became the richest man Basically the last thousand years By seeing oil before everyone else Carnegie became the second richest man By going We're gonna need steel To build railroads And to build everything now is steel Your car is made out of steel Elon Musk said Now, let's take it a little further We're gonna need electric cars That recharge themselves Without using fuel And he looked like an idiot For many years And now everybody Every major company is jumping in I remember reading an article in 2009 It was like Wall Street Journal And we were just laughing At this guy, Elon Musk Well, you know Space travel looks stupid Now Jeff Bezos is going We're gonna have to all Space one day Because there's gonna be too many people On planet Earth Everything looks dumb And I tell people Get in You don't have to be the first Actually being the first is dangerous Because some weird ideas are actually stupid Yeah Right? But this Airbnb thing You can Google it People magazine had an article On the guy in London Who made 15 million In 2017 That's years ago Yeah, well the article that got me all Jacked up and excited about this Was in Forbes It said the 75 people Who make a million dollars Or more a year on Airbnb And that article just 75 75 And that was written in 2016 Wow I still talk about it But it was written in 2016 That number is now in the hundreds Yeah And I was like How do you make a million Dollars on Airbnb And it just caught my attention I didn't sleep that night Because that was where I first Really started getting excited about When I read that And one of the things That you teach You teach people a lot of different things But a lot of the core theme I see across all the things that you teach Is learning how to ride the coattails Of these multi-billion dollar companies So for example Amazon You can make money on Amazon Yep You can make money on Facebook Do an agency You can make money with Airbnb And we don't have to create a company like that We can simply find a way to make money Inside that platform Because Airbnb has invested Literally billions in their website So the cool thing about this Is if you've been in the real estate game Or haven't been You've got a better website I don't want to learn how to do Social media marketing Yeah You go Airbnb has it all done for you Literally Their site's not going to go down It's backed by the best programmers It's a redundant server It's like all here ready for you to go You've got legitimacy too Because that's the other thing Imagine if there was no Airbnb And you just made your own website And you go Are you in Chicago Want to stay in my one bedroom condo Well I've got people that approached me And said This website I made It's kind of like Airbnb I was like why What are you doing Yeah and you sound a little bit like You're like serial killer Hey I've got this basement for rent Bring your friend And I'm going to have to blindfold you When we walk down Because I don't want you to see where No people aren't going to do that But Airbnb People are just gone All you have to literally do If you've listened to this Is take good pictures Light the thing up Get a bagel Eat half of it Put the other half on a plate Drink coffee And people are such procrastinators I just go I think a lot of people that look at A lot of businesses think I don't know if I could do that And the thing about this is If you can operate an app on your phone It's the simplest app to operate If you've ever rented a property before In your life Which I would say most people have Unless they're very very young Then you already know how half of it works It's not rocket science If you've slept in a bed In your life You can literally But you can break down What do people want They want a bed They want sheets that are clean A lot of it Common sense is no longer common But if you're watching this And you're 18 years old You can do it No one cares First of all They don't see you I always tell people about E-com And selling on Amazon Or E-com Because I got people who follow me Who are 14 years old You know There's a kid Seven years old He made He published the numbers $22 million He's got Ryan's toys Ryan's toys He's cut a deal He's seven I'm going What the hell was I doing at seven I was like playing with Legos Or something And this guy was controlling $20 million business But that's what's happening In the world And so to be good At this business You basically have to just Reverse engineer psychology I'm in a new city I want to stay somewhere I'm going to go to Airbnb If I'm not a big fan of hotels Or often it's cheaper than hotels Well I get a three-bedroom place For what I pay for a room Yeah So I type it in What am I looking for Because I was literally Just looking on Airbnb Because I moved to London part time And I wanted to get Airbnb For my staff And it was the same thing I was looking through there And I was like And you're scrolling fast So you're looking at the first photo Some people have like Two photos on their thing I'm going How much harder is it To take five photos Really I'm like looking through it And I'm going This person Actually took their phone Took two and said Yeah that's it It's going to be way too hard To shoot two more So by the way How many pictures do you think You should take Well Airbnb does max out How many they'll allow you to take But it's still quite a few Eight or ten I think they allow like 24 pictures So you want to put as many As you can And not just of the properties You want to take some of the What's around it Exactly Like what's the coolest Bar nearby Take a photo of it And tell them why They should go to that bar What's the biggest attraction In your city Tell them it's three minute walk Yep you know those kind of And write a decent description If it has a rooftop terrace Put that in If it's you know Now Rick Who's doing sound here We got him an Airbnb Remember when I went to the All-Star game in New Orleans Couple years ago Rick So don't do this Rick gets there Wasn't it a crack house Or heroin Close enough He got an opium den It was literally he got there But you know the good thing is Airbnb refunded it And so people feel protected Like I never stopped using Airbnb after that bad experience Because I went they made it right So you're riding the coattails Of good customer service Are there any other websites That people should even Remotely consider VRBO I mean VRBO But only for a very select Part of the market And I really believe that All you need to learn Is Airbnb Let's talk advanced then Okay sure Luxury Alright The big money Because you and your business partner Have gone and gone You know it's like white belt You got your white belt Black belt You got your white belt Your brown belt Black belt is like luxury stuff My business partner was a student Okay He's a student who went through The program Went through your program Went through my program And then later on He told me the results And I was quite jealous actually Because he got his His first luxury property This was in Scottsdale, Arizona And he did over a hundred thousand Net From one problem One Good thing is You must be a good teacher Because when the students Pass the teacher It's actually I'm proud of it I mean people ask me about When Yoda gets beaten in By Luke Who beat Did anyone ever beat Yoda Luke Scott Walker Obi-Wan Obi-Wan Yes So I know I have students that are done Way more than I have And that's exciting You said you got a few Million dollars net I got one guy that I've consulted with I don't think he went through My program But he's doing like Two and a half million Two of my students are Approaching a million And then I have countless people That are a hundred thousand Three hundred thousand And we're talking net or gross Net I always talk about net numbers So a hundred Two hundred seven hundred Thousand lots of those So Yeah Luxury properties Once people get You don't recommend people Start luxury Don't jump into luxury properties Because you're talking about A luxury First of all A luxury owner is not Going to be Just like sure You know They're going to take Some extra convincing And some extra protection And they're going to Want you to guarantee That eight thousand Twelve thousand Rent payments So you have to be very Careful going into that market And I wouldn't recommend Starting there But there is a potential In the luxury market Because most people Don't know this Most luxury properties In the U.S. Are not lived in So I live in Charleston South Carolina And there's a place Called South Abroad Just magnificent Southern mansions The only people you see Is other tourists walking around And I asked somebody That one time I said Why is nobody living in here And they said Oh, these are all Second, third, fourth homes Yeah Nobody lives here Like 80% of these homes Are just empty all the time So you'll find that In other luxury markets Like Scottsdale, Arizona A lot of those properties Are vacant And they're sitting there Not making any money For the owner And the owner knows Probably that They can make money On VRBO Or Airbnb But they don't want To be bothered with it So you can approach them You can do the same thing Do you think the economics Let's just talk about it By the way This is one of the things That Brian teaches In his advanced course With what we taught you Just in this, you know One hour or so Conversation You can actually go out And start For those of you who want I always say About 20% of people Want help If you want Brian's help Go to tylovis.com Slash Brian P B-R-I-A-N-P Or click the link Below if you're watching it And it's going to redirect you To his book And also a place Where you could potentially Become one of his students Where he'd walk you through this It just depends on If you want to go faster And you want to Potentially play It's safer It's always safer To go with it I always pay for speed You know I'm willing to pay money If I can go faster That's by leveraging expertise And there's a lot of people I mean I see people going Oh, you don't need mentors You don't need coaches I go, well, if that's true Why does LeBron James Have a coach? Yeah Best basketball athlete Why did Michael Jordan Have a coach? Most talented players in the game Yeah, why did Why does Warren Buffett Who made $80 billion In the stock market And in the investing world Why did he work under Benjamin Graham For four years Well, actually about eight years Warren Buffett has a very high IQ And he didn't think He could do it on his own But now we live In a very cocky world So if you're one of those Cocky people Like, I don't need a mentor By the way, this video Was your mentor But if you want advanced mentoring TylerPedda.com Slash Brian P And let's talk about this advanced market Sure, because you go into a property Let's say it's not super I mean, I come from Manhattan In LA and London You can get properties That are $150,000 a month Don't start with $150,000 a month Those people will not let you Put it on Airbnb But let's just say You find a $10,000 In Hollywood Hills right now This is actually For those of you who got a little more Savvy You go into Hollywood Hills Is a great place I almost got one in West Hollywood I have one I don't use Airbnb You know whose house I almost got Who? Neil Patel I was sitting down with him And he said I want to move out of my house And what do you think it would make On Airbnb And I tried to show him the numbers And he didn't believe me I was like, no dude You can make some money with this house If you wanted to move out of it And turn it into an Airbnb Once you start talking about it You can easily So like, here's the math In my head Tell me if I'm wrong You can control a property A decent one Let's say for $10,000 $12,000 a month Or even less You know, $7,000, $8,000 But I'm saying a nice Pretty nice one In a prime location In a major city You could definitely average A thousand bucks a night And let's say you rent it out Just 20 nights 20 nights Not even trying to go 100% occupancy Averaging some nights Doing it 700 That's average 20 is 65% Yeah, 700 And some nights On the weekend, 1500 So you average 1,000 So you're going to make 20 Gs On a place that's 10 or 12 That's about 8,000 net After you take 5% for management So I don't know Of any real estate deal Where you could Literally do that in one move You could do a six-figure Net cash flow That lasts for years In one move And if you're a little bit More fear-based You could go to the owner And say, listen You get 100% of the first 10 grand And after that We split it 50-50 So let's say you get 20 And he gets the first 10 Or she gets the first 10 You're making 5 At 60,000 a year The average American Makes 51,000 The average household And Americans make a 51 grand With one property That you don't own If it gets destroyed In that case You don't They're kind of Your business partner It's crazy We got properties in Arizona We're looking at 17 luxury properties In Florida right now Yeah, as a group Florida's good So we're working on Florida Miami's a little weird But you can go outside of Miami But here's the thing For everybody listening I don't want you to get overwhelmed By the thought That you have to do that Because you can always start small You can start with a studio Or one bedroom Start with a room in your own place Start with a room in your own place Yeah And then prove that it works And then start moving up And if you want to do A significant income like that With four or five or six properties It's just as easy to do If you manage it properly Yeah, that luxury one Is for those of you more so Who already have real estate experience And so on Now, a couple other things Little devil advocate things What if people say Got it, I heard you It all makes sense I'm just afraid I'm just afraid Because humans are emotional Okay Yeah How do you get over What's the best technique To get over that little Teeny hump I find once people get started That's the whole You know, I made this course in 2014 Called the 67 Steps It's a paid program Almost 200,000 people Have gone through the paid program Okay What I told people is What scientists have found is The average person After about a little over two months A new habit is formed It's not hard So for example, Alex My business partner He just sold his company For $300 million He's a machine Business and making money But health-wise He can't He moved down to LA Because When we became business partners And he was eating I kid you not Three meals from Fat Burger Breakfast, lunch and dinner Okay I calculated He's eating 5,000 calories a day Of junk food He's not a big guy either He's not like Arnold Schwarzenegger You know, 5,000 So I'm going Alex, I think you're going to die here You're like Just cementing your arteries So I said Come work out with me He's like Ah, working out It's a waste of time I could sit in front of my computer And make more money I said, yeah, but Just try It took me years Finally I got him Once about two months Of just taking small action At first I just said Come out when I'm in the gym And talk to me Don't work out So he came out in the gym He brings laptop I'm in the gym This is how I'm rewiring his brain Okay, he doesn't like to admit this But rewiring his brain That the gym is a happy place So to speak So he's making money Then I resorted to different psychological tricks I was working out You know, when your biceps are pumped They look a lot bigger I said, Alex, come over here And I took a tape measure And I measured his arms And he had 11 and a half inch biceps There was a girl there And I measured She had bigger arms than him And I said, Alex, he's just He's very competitive I said, you just can't have This small woman Stronger than you And all of a sudden he's like So next day I work out there He doesn't have the habit yet But it's about two weeks in He grabs a weight He starts lifting Next thing you know He's a machine He's the most good After two months He works out Like a robot now And so I tell people If you want to get in the Airbnb business What's the minimum barrier to entry? Maybe stay in an Airbnb yourself Next time you go somewhere Stay in one yourself Stay in Airbnb See the experience Then the next one is like you said Get a little room There's no commitment Yeah, you could say All right, this weekend I'm going to list my spare bedroom Or someone else's spare bedroom I got an uncle over here That's got a spare room, whatever And just make a little bit A few hundred bucks a weekend And test it out Make a hundred It's always the first dollar It's like any business The hardest hurdle is that first dollar I tell people Make your first hundred Once you figure that Go up by one more zero The first thousand Once you know how to consistently Make your first thousand Try it for ten thousand And then you can stop there You can try to go to a hundred thousand Now, one cool thing about Airbnb I don't know if you've explored this But if you're afraid to run out of room There's some kind of weird stuff Like you can do a tree house Is one of the most in-demand things So lucrative In a parking lot You can run out your backyard for a tent You can do an airstream trailer or RV There's a lot of money in RVs Because they don't cost anything To either rent or buy You could buy an airstream If you want to buy one for five grand And rent it for 150 a night Or rent it from somebody Somebody has your junkie little But have you seen this thing Where parking lots will run out And people put tents there for a festival I don't know if Airbnb does spaces Do they? I thought they did campgrounds They do boats You can do yachts and boats Yeah, that's possible And then somebody did an igloo in New York City And then they removed it But I thought that was kind of a genius Somebody was thinking Did it melt? No, no, no The website said you can't do igloos They had to They had to write out their policy They had to go to their lawyers What's our policy on igloos? Okay But tree houses are literally in there Are they still allowed? They're super lucrative There's a book called The Airbnb Story I think you reviewed it once Yeah The owners, Brian Chesky, said The most profitable thing you can do right now Is go build a tree house So grab some 2x4s Nail it, do a tree And be like when people come That's it You thought you were getting a room Here you go Climb, my friend It's a pillow on a board Definitely get extra insurance You got to go to the insurance people And be like Do you have tree house insurance? Do you have falling insurance? Somebody break you I don't know if I would do that one But I like the idea of Post on your social media Who has an extra room Want to make some money Yeah Everybody in this world is always broke So if you go Who wants to make some money Somebody will reply Yeah Number one thing that will get you replies Is who wants some money Yeah My parents have a couple spare rooms I don't But you know If I was starting out from scratch And I didn't have a room I'd just look to anybody that I know And say look Let me put that room on there Just test it out What do you do if people are psychos? You know for a long time I was allowing people to stay In my spare room on Airbnb So I met all types Any horror stories? No, no horror stories There were a couple weird people But I didn't have anything Like you know I did lock my door at night A couple of times Here's my robber either I'll be here in my room In my pit bull To show them my gun collection Before they go to sleep You know No, no real bad stories But you know If you don't feel comfortable Doing that Ask anybody if they've got Rental property And say hey look Yeah Why don't we try this Instead of what you're doing Right now Next time something comes I guarantee if you ask people Somebody you know has Rental property Oh yeah So you don't have to do it In your own home In your own block There's people with properties For sale I love the idea of going If you go on Zillow Or different websites You can search them Especially have a realtor friend Say show me all the Stale listings Things that's been on this Market for 12, 14 months It's usually overpriced Or something's weird About the property Go into those property Go on a Sunday When they're doing an Open house Like hey I got something Crazy for you Let me rent this thing out On the weekdays Yeah And you know a good thing To do is tell people How much money they've lost So let's say it's been On the market for 12 months You say I don't want to be rude here But I just did a quick Calculation of my head I think I can rent this Thing out for And pay you I don't know Three grand a month Or something like that Yeah And This place has been Sitting here And that's just on the Weekdays That's 36,000 You've left on the table This year 36,000 This is if you really Want to commit somebody You go 36,000 Invested in the stock market At 8% Alright So 8% Roughly means That it'll Double every nine Or ten years And let's say they're 30 years old Yeah You go Five doublings Before you're Retired Four doublings Let's say This 36,000 Would be 72 140 208 You left behind A quarter of a million dollars From not letting me Rent this Of potential People You want to stop Losing 200 This might be on the market Another year Recessions Let me start making you Some money Yeah Yeah I don't know You've used that On luxury properties Where it's like 10, 15,000 You can be like Every year You're using a potential One to two million dollars By the way This is the book How to Become Financially Independent On Airbnb Without owning property By yours truly Brian Page You know who says yours truly Now if you guys watch Twitter OJ has his own Twitter account Have you seen it? He goes Hi, Twitter world It's yours truly So never say yours truly Unless you want to be Associated with OJSubsit Brian Page Not yours truly And So Brian B-R-I-A-N-P Will redirect you To a link Where you can get the book And for those of you Who want Brian's help To actually walk you through His training program I always say About 20% of people Really should do it With somebody If you want Brian Helping you get started He's You've taught A lot of people I've partnered with him He's trained Some of my students With great results So We'll have a link there too To get Access to that Whatever you do Main thing from this talk We did today Take action Don't be somebody Who looks back at their life And like Thoreau said The massive men lead lives Of quiet desperation What's called Resignation is Confirmed desperation Meaning Anytime you Listen to something You go that's a good idea I should probably do it And then you Resign yourself to Just going But I don't know If I have time You're basically Confirming your desperate life Never be desperate Desperate people Nobody wants to date them Nobody wants to be around them You start building up That desperation And the habits of the mind Lock in Warren Buffett says The chains of habit Are too weak to be felt Until they're too strong To be broken So every time you listen To something like this And you don't actually Do it You're actually rewiring Your brain To being somebody Who doesn't do And all the wealth is created By people who do It's better actually To be sloppy But actually do stuff Than to be a perfectionist And never get off the ground I mean this world If you look at Facebook was built The youngest billionaire Of our times Is Mark Zuckerberg He's worth over 60 billion in his 30s He said Go so fast You break stuff So I'll give you that Advice from somebody Who worth 60 billion Dollars Airbnb Go so fast Things break a little bit Like it's okay If somebody wakes you up At 2 in the morning And says The toilet's clogged You'll look back one day If you have no war stories Nobody respects you It's kind of like UFC I was at the UFC fight Nate Diaz Came back out of retirement When you look at Nate Diaz's face When you look at You know Khabib or Conor McGregor These guys have war scars You believe that These guys have been In the trenches fighting Don't be afraid And go We'll tie How can I do Airbnb And have no war No war stories You want a war story There's nothing better Like people that don't respect me There's people that will always respect you There's people that don't respect me When they actually meet me And they hear my story They're like Wait a second I respect you now Because you have war stories And so Never pause Because there's going to be A little bit of risk If there's no risk There ain't no money This is how the game goes You know Like they say in Las Vegas Scared money don't make money The people who make money on Vegas Put the money down on the table They do calculated bets Not stupid ones This is a very calculated bet You've done it Thousands of people have done it And it just kind of makes sense It's Airbnb It's not how to start You know, a Ponzi scheme Okay So Jump in For sure get the book If you're going to do it on your own At least get the book I think everybody listening Who this resonates with Get the book Tylerbiz.com Brian P. Or click the link below If you need a little extra help Be on the book Sign up for the course It's not that expensive Last time I checked I met this girl in New York And she's doing digital marketing Degree she told me I said, oh really She didn't know that I have a background in marketing She said, ah I said, okay How much are you spending Pace college I think in New York She said that's 30 grand and four-year degree I went, wow You're going to devote 30 grand And four years of your life To learning some For some professor Who's never even done a Facebook ad Himself She goes, oh no No, it's 30 grand a year I said 120,000 to learn From ding dogs And never done it Well, your course is not 120 grand No So the book is I don't even know how much But it's not expensive Free plus shipping Oh, free plus shipping And then the course is whatever Whatever it is You get what you pay for So for those of you who get this Jump in Brian's course Get the book at the minimum Literally You just pay the shipping cost So Brian Alright, thanks for coming Thank you brother Appreciate it