How I Built A Multi Million Dollar Airbnb Business From Nothing FAST
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- เผยแพร่เมื่อ 25 เม.ย. 2019
- If you want to aggressively build your airbnb empire. Take this move out of my playbook. This is how I put all of my money to work to maximize growth when #scaling my #airbnb #business.
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I'm on my 3rd Airbnb property right now at 29 years old. I also majored in engineering so that's where I got the money to invest. My two other rental properties bring me a good return so as long as its working I'll be getting more and more houses. My goal is to retire at 40
Im inspired as well! I want to have my own airbnb business! I have 10 grand to invest. But i have no experience in this, and very intimidated by losing out. 😕
@Nicolas Long thank you sir! Greatly appreciate the encouragement!
Will Tirad I would like to ask you some questions. What’s the best way to connect?
Bobby Anti Mitich you should probably start smaller,. Maybe get involved with automated amazon drop shipping. The returns are pretty good. Pricey tho. The automation is the best part, imo.
@@goldmanstacks7463 interesting. Ill check it out! Thanks for the info!
I haven't been following you for a few months now Sean, but good to see you still posting! I am disappointed I'm not doing Airbnb this year to focus on other plans, but hope to be back at it again soon.
I love
These videos keep posting more for
People
Who are just starting out thank you so much!
Wow you are awesome Sean, I wish I could learn from you personally. Thanks for video and sharing with us!!
EBITA is probably a better metric to judge a multiple. 6.5x is a high multiple.
Continuously impressed by what you’ve built man. Thanks so much for the tips.
Thank you so much for this advices Sean!
New sub! Love the information. Thanks so much.
Great Sean !! Keep up good work
Hello Sean your information is very helpful and all the best to you. I made sure to subscribe to your channel. I will be looking out for more videos and viewing all of your past videos.
Awesome info Sean! Purchasing my first Airbnb in Jan and will use your projection strategy to have 3-5 by the first of Feb.
Thank you, Gracias ! Keep learning!
LOVE YOU SEAN!!!!
Love it. Im so thankful for your channel. I finally have my 1st Apt in Houston. Thanks for all your insight and information. Your awesome.
Nunu, care to share how that process went for you? Did you tell the management company that you were using it for airbnb use?
How can you get the landlord to agree? Most of them would not like it to be used as air bnb
JP Hevia Yep, everything is done legally. PM knows our business model so there are no misunderstandings.
Water Gate That might be true in some locations, but I just kept calling and meeting them until I found one that did.
Chris Coronado Is it a luxury apartment ? And how much did you pay the landlord starting out ? I have 8k and I’m tryna quit my job ASAP 😂
Brilliant strategy bro!
Wow... 4million and 100 properties... impressive... thank you for sharing...
Great info
Congrats Shawn I slowed down because I took a lot of profit aside and invested in my design build business but it’s not as profitable as Airbnb
Hey Sean, amazing enlightening video! Congrats on your epic success! Can you do a video on how you stay organized on all your bills ect?
“Intro.
Title reel
Small talk
Our big secret: Autodraft
Outro”
Lol. I’ll look I see if there’s any other advice I can provide. I’m sure our managers are doing some things here.
Thanks for the feed back. One more question. I see you’re in Dallas and Houston. Why not STR in Austin Texas?
Airbnb is my second business. I go wherever my first business takes me
Airbnb Automated thanks! Very impressed with your response time
@@AirbnbAutomated hey Sean, I´m very curious, could you tell us what is your first business? thanks a lot! Grettings from Mexico
Thank you
Congrats and great work Sean! Just a word of caution to the new commers out there. Doing aggressive reinvestment works most of the time is bullish markets, even when investing in stocks, there would come a day where the market/bookings will turn ice cold for you, ie terror attack in ur city, regulations banning airbnb or even a competitors with financial backing renting/buying out the entire building and crushing you in a price war(this happened to me BTW). Just be safe and plan for the worse too. Good luck stay safe
How are you doing so far with your Airbnb business and how bad are the issues you have deceived? Do they happen frequently? Thanks!
SEAN -- Do you only use Airbnb insurance? Do you have company liability insurance? Can you talk about that?
Have you been working on an online course? You have a lot of valuable information. Thanks for the great content.
Hi Sean! Thank you very much from your videos! Are your properties in Airbnb plus category? Can you make a video explaining the detailed activities that Kath does, and what are your activities right now on this business?
Greetings from Mexico City
Hey Rodrigo was just in CDMX for the 1st time a couple weeks ago (Roma) great city! Lucha Libre lol .Was also wondering about the Airbnb possibilities there
Do you put the leases under your personal name if the property doesn’t allow you sign the lease under the company name? How can i ensure we are protected by the LLC if anything happens?
Sean I'm a hudge fan of your business model and I'm making some progress thanks to you! I have a the same questions since I started following you. How are you planning to handle a market slowdown with such high fixed cost? Thanks
Diversification, synergy, process optimization.
You got a teach us how you get apartments without getting backlash from the managers or property management co about running an air bnb? you might have done a video on that already
Fred Fong THAT!!! Is the valuable information
Yeah right he's going to tell you that.
Check his previous videos. It's on there.
@@hennycastillo1790 I watched all his videos . I must of missed it, what did it say?
This was my first thought. I don’t get it.
A big correlation with number 4
Question: please help. Do you have any information on the Behind the scenes check list??
From when an owner wants you to given them a estimate. ( are there websites which help you know the possible price to rent their property out as )
what’s a good form for them to sign? Or what should you be putting in a form To protect you?
What’s the Right questions to ask a owner?
I can’t find any information to help me with this.
I live in Houston with a goal to brrrr a property!
Awesome content Sean. I am a traditional home owner that has been renting out the extra rooms for a few years but have decided to go the Airbnb route to maximize the potential. 1st an LLC. Want to do things right. Looking forward to more.
It's my pleasure. anything you're working on now?
Hi Sean! Amazing content! Truly fantastic. One question: since you’re always using the available cash you have, making you have low reserves, how do you protect your LLC and yourself from the possibility of not being able to get more bookings in case something happens? Like HOA complaints, new city ordinances, even unexpected maintenance etc. Thank you!
We don’t have any HOA properties. That helps
And we keep some cash! Also backup credit
'So you are renting vs buying the properties?
Thank you for the tips! Question: What and where was you very first property? How did you find it and decide on it and how did you progress with the $4k? Thanks again!
I have a video on this actually
Was in Houston almost 5 years ago
Should I email homeowners and ask if subleasing is allowed or should I just go to the properties and talk to them in person? I haven't found any homeowners online who allow subleasing.
Don’t use the word subleasing use the phrase corporate housing
@@AirbnbAutomated that sounds even worse lol. I'll just call it airbnb rentals
Hey man, just found you and love the video and what you've built! I'm a traditional buy and hold investor with 39 units all in my hometown that my wife and I own ourselves. No equity partners like you also said. I have two 5 room amazing old brick mansions that I brought back to life and started Airbnb the rooms and am starting to see some success.
If I could break down your video to the 1 simple tip, its knowing your valuation and being able to pitch it to the banks. Correct? That relationship could lead to loans and/or LOCs that you can use to buy more properties; rinse and repeat. This is what I took out of it and what makes sense to me. Just wanted to know if I missed anything. Thanks again
I don't believe I heard of him saying he was evaluating the value of the business for lines of credit. I took him sharing a generalized concept of how you evaluate a businesses value. Most people don't know how this works.
What I did hear him say is that he doesn't Barrow money or have equity partners and he explained the importance of understanding the business's cashflow projections to understand how much cash he has available to grow his business.
Also would you mind making a video on what you do to prep for launch in 1 week? That sounds amazing but I think a newbie like myself would find it tough to do in such little time (and it's best not to have any unprofitable months..)
Absolutely
i read that in philly you can only have one airbnb as long as its your primary residence. this was as of 06/2019. how did you get around this or am i reading the law wrong? thanks
Difícil sólo hacerlo con un departamento.
How do you avoid having apartments in your name? Meaning, when places run rental credit and see multiple properties under your name, sometimes places will not lease to you. Have you had this problem? Do you apply to complexes under your LLC Name or personal ?
Absolutely under an LLC
Airbnb Automated do you tell them you are doing short term rentals when you apply under your LLC ? I’m located in California where convincing homeowners is next to impossible to agree. However the amount of properties I have acquired is adding up and landlords question why I have so many properties under my name. I have an LLC , is it possible to apply to complexes using your LLC without disclosing you are using for short term rentals?
Airbnb Automated please make a video about this in the future! Myself and other hosts have this problem “how to apply to properties using LLC”
@thecorkthatran he has a video on this.
You should not lie about your intentions.
If they know you are a business, using the property for business purposes (corporate rentals, short term rentals) then why would they expect the person to put it under their personal name?
thecorkthatran Wait , so the property owners don’t know you’re business model ? 👀 I was thinking about that bc I will be good with 3 properties.
Great video. What portion of your portfolio are rentals vs property you own?
100% rentals
How can you get landlord or strata to agree and not complain?
And to not complain? That’s a great question.
I have a video on how to pitch them.
Running a good business and preventing parties keeps the complaints down
Man that was quite complex, haha. But I think I got it! You basically rent, rent, rent, rent as quickly you put up on airbnb.
How do you set your timeframe limit for guest to cancel reservations? Thanks.
Can you make a video talking about the Vancouver bylaws about Airbnb
You need broker license to rent other people house also collecting credit for it, full time job 7 days a week nonstop people complaining everything! Specially here in USA, you need really good team who maintained those properties! It's big headache trust me ! Not easy everyday stressful!
The important thing is to make a profit!
Hi Sean,
When or if you ever sell your airbnb company, does it matter if you are personally the host/face on your airbnb account or should the 'company' be the host/face of our airbnb account to be able to sell it?
We’ve changed the host name and avatar, and from our experience as long as it’s a human it performs better than if it’s a logo
What kinda properties u run as airbnb?
Condos? Houses? Townhouse? Or,,,?
What type they are? Entire ? Private?
Hello Sean, Great Information! Can we ask you questions here by Email? I have a Loan Question. Thanks!
If I start a new Business or LLC. How can I get approved for an apartment if that business hasn't generated cash flow?
I was wondering the exact same thing
Philly!!!
Amazing video. Wishing you all the best and I am looking 225 properties by 2020
That would be awesome!
And yikes, time flies...
How many do you have so far?
Hi Sean
Thanks for the video
If you have an income of 145,000 on 85 properties with a rent of 1500 it leaves you with 160 per apartment every month. This doesn't cover bills and costs. Or did I get it wrong?
We don’t have 85, we have 50-55. We keep adding properties faster than we can wait for the revenue to catch up. But the month we did 145 on airbnb we had under 50 active properties.
I think we have a net of 600-800 per month on average except in peak season. Which we are coming into.
As we add properties our rent roll goes up before our profits do, so it’s a bit hard to pin down
Places have no sub-leasing?
Hello Sean, do you do private consultations?
Can I just rent a place and sign it up to Airbnb?
Yes you can
Is there a specific pitch you use in email form. An apartment asked me to email them information on what im looking to do, not sure what to say
Ps you are amazing I watch you like the plegg
How do you manage all the guest communication? Do you have a team of people answering guest questions?
Yes we do! There is a role we’ve added recently called a reservations coordinator
@@AirbnbAutomated Hey bro! Could you share/explain your organigram?
Thanks so much!
Sean! Your a stud man, do you have any sort of float for unseen expenses?
Lol thanks Carlos. Yes I keep a certain amount of liquidity just in case. I would keep 25% of your monthly operating expenses on ice.
@@AirbnbAutomated 25% of expenses not gross income?
Expenses include rents. So it’s not a trivial number
🙏🏻
Love this channel. I am really having a hard time as an individual getting properties. I own an air bnb cleaning company and own my own air bnb. (A house i bought next to a national park. ) i clean for this company that has 4 apartments in this apartment complex. So they are open to air bnb but i think they would we hesitant to let an individual sub lease them. How should I approach the complex?
Do you have an LLC yet?
@@AirbnbAutomated I don't but i can. In California it's about $700. is it worth the investment and will people only accept me if i have an LLC? I wont be able to show that this llc is making any money? Or would they even ask?
There’s a few important reasons to get an llc and to work through it. I haven’t published a full how to yet. (I have a course on the way)
But step one LLC and research what a paydex score is
@@AirbnbAutomated will do. Thank you
I have question is it necessary to get a EIN number? my buddy and I got an LLC established or can we use the state issued UBI?
Your LLC should have an EIN. Get it for free from IRS.gov/EIN
Interesting! If you don't mind me asking, which channel manager do you use? Also, do you create separate accounts for each Airbnb property or have all your properties under one Airbnb account? If you have each property under separate Airbnb listings then how does that work when it comes to contacting Airbnb?
I will be reporting back on channel managers soon. Stay tuned
I have three airbnb admin accounts and 2 cohost accounts
@@AirbnbAutomated thanks for your response but still confused. So out of the hundreds of properties you manage you've only split them between 3 Airbnb accounts? How does that work when contacting Airbnb as from what I'm aware of each host has 1 account per name so if you're managing hundreds then how do you bypass security etc.
Would really appreciate your response with regards to channel manager - fyi I manage a lot of properties here in UK and currently use a channel manager called airgms - not the best
When you have a host account you can create as many listings as you like. We only split into multiple accounts to manage finances and reviews on luxury properties as opposed to economy properties
@@AirbnbAutomated I understand but let's say you have 50 properties under one account. That's pretty risky as if 49 properties are super host and only 1 property isn't then overall you won't be a superhost
Wow
I'm not getting bookings. Lack of bookings is a trend with several hosts. I've been doing this for 4 years and this is the first year with such a HUGE decline in bookings. I had one client with 4 properties pull out and another client has blocked off the calendar for 2 units in August. I guess they are contemplating whether to keep doing Airbnb or not. With one of my properties had a 1.6% booking rate! I've done so much research improving my listings. I'm a co-host in Seattle. I'm looking for more clients to co-host.
As a co-host, do you have advice to get more clients? I'm in a facebook group I've gotten clients from...
You could by creating new hosts to cohost for.
@@AirbnbAutomated You mean by approaching owners and explaining how to start an Airbnb business as a passive income?
What will you do if airbnb becomes illegal in your city
Sell and buy another :)
@@exorc1st995 he doesnt own them to sell them, he rents them
2 million gross revenue .
What is the net revenue?
What do you actually make to keep ?
About 35% in high season, 20-25% in slow
Airbnb Automated so what is the estimate per property if you don’t mind answering that?
He has answered this in the past. ~$800
Money needs to make babies🔥 ~ Grant Cardone
Lol that’s a good way to put it. I like the way the book “the richest man in Babylon” out it
I think comparing an "all lease" AirBNB business to "brick and mortar" hotels isn't valid unless you've got super long leases in place (ten or twenty years). Otherwise, the business has the additional task of replenishing its property base. Moreover, AirBNB properties lack some of the efficiencies hotels have. On the back of the envelope, I would expect a multiple from two to four at best (not 16 to 17 i.e. 6% cap).
Those points are valid. One would debate your lease point with the logic that the attrition of leases is already factored into the profitability of the business. If the business had declining revenues that would be a consideration.
Also those efficiencies factor into the profit. the multiple of 6.5 could still be generous considering the model carries less assets
@@AirbnbAutomated Thanks for answering. I enjoy your videos and am a neighbor here in Fort Worth. At the end of the day, the business is worth what you can get someone to pay. I would imagine that a brokerage market for these businesses will develop if there's not one already. Of course, a larger more automated business with well organized employees is worth more than an over-worked one man band.
That tends to be a common problem with small businesses. The loss of the owner operator as a factor of future performance.
And I love Fort Worth. Great town. Sad that they closed the mudsmith near Max’s wine dive. Such a great coffee shop
I did Airbnb renting out my own property for a few years. Once I started renting out condos, apartments my troubles started even neighbors complained. How luck are you 🤔
Chris Chris he is not lucky. He is lier , thats all.
Vadim Kaz I know that lol he is an Airbnb puppet! Airbnb, uber, amazon and manny other are suckers! I am done and quitting with them!
Chris Chris he is lying here about million dollar business, then will try to sell his "1 on 1 educational course". Fkn scambug. You can tell even by looking at him
There is no course
Sorry man, have nothing to sell you.
May be it’s just a bounce of hotels running in airbnb?
What if you can't get any booking from Airbnb enough to cover your overheads?
You’ll want to watch our newest video on slow season pricing strategy
when is it ok to buy property instead of leasing?, in our country Airbnb was recently legalized with a catch, apartment buildings need to have a special license. Some New buildings are being raised with that license already in place but they will finish the construction in 2 years. Would you invest on these apartments just to be 100% legal vs the rest of the people doing it illegally?
It is a good idea to buy a property if that property is going to increase in value. If you can purchase a property with very little money down then that becomes an attractive idea.
I would have to see the law you are referring to before I made an opinion on that specifically
@@AirbnbAutomated Is there any number or formula in particular you apply? I try to seek at least a 12% annual return. Im not sure how to calculate that on an arbitrage business model though.
Air BNB sounds familiar??
How/when do you pay yourself?
I have another business I pay myself from. So I take profits from my airbnb portfolio at random
Did I miss how exactly $3000 turned into this business? Like the actual first step? This is my first video I’ve seen from this channel. Did you sign a lease on an apartment or a house then rent that out on air bnb?
Started with an apartment. I do have a video up on my first property
Airbnb Automated any issues with apartments that don’t allow that? There seems to be several apartments in my area that explicitly make that known.
Yes, so you won’t be working with them. Negotiations is a process. (Seemingly a never ending one lately)
You often be out Philadelphia that's cool that's right near me would love to meet pick your brain on a few things ?
How is that leverage working for you today?
We have a lot of properties 💁🏻♂️
Don't say nothing... Some of us have $20 in our wallets right now tryna make shit shake and it's hard to save $1000 on a lower class level. I plan to do this one day but lack the funds. Just gaining the knowledge in advance
I’ve been there. I was homeless in 2009. Reading business books at Starbucks for almost two months before I caught the opportunity that got me out of my situation. Self Education is the best thing you can do. Ready the mind.
Are you going to create a course.???
Working on it. Need just a couple more hours per day
Well when you do. I'll but it, I have a business and I'm looking to build out a sector in my business for Airbnb/property management
Do you think it's less profitable if I hire a manger to build it out on behalf of our company.
How do you pay yourself ?
I take profits as desired. Not on a schedule. Nothing notable to report here.
You never said how you started with 4k …..lol. You had to pay something for the first properties.
@Airbnb Automated Please also talk about experiences, i'm gonna keep trying to send you this messages until maybe you notice it, i know you are busy, but im persistent.
He does. You should watch some of his older
Airbnb experiences is a new world for me. But I commit to you that I will learn as much as I can
@@AirbnbAutomated Thanks very much, for your great content and for taking this seriously. basic matters like how people even can interact with this new feature or how you gain more success providing it can help tremendously to your userbase, content and everyone it this system. looking forward to seeing new content from you.
do you have a course?
Anthony Seddon its a scam. Watch out
Nope, everyone keeps asking, but no course
But $4000 is not even enough to sign a lease in Seattle! They typically demand you pay first month, last month and a deposit equal to a month's rent (some more lenient may waive the last month)
Sean, do you include photos on the nearby natural sceneries or tourist spots on your listing photos?
I do include those types of photos! And I have a video on how i did my first apartment for $4000
If it cannot work where you are then move to where it can work and commute back to whatever commitments you have in Seattle...`you can`t do that here` is one of the lamest excuses for not getting in the game
@@lookup9078 Thank you, you too. How do you think about Olympic Peninsula? The Forks, Port Angeles?
Do you offer a mentorship program? would love to know more if you are.
I will be putting together a small group program soon. First ever. Add to the Airbnb Automated Facebook so that way you can have details when it happens
@@AirbnbAutomated Are you coming out with the course?
@@AirbnbAutomated That's awesome! I've recently joined the group.
A course will come. It just takes time
I don't believed any of these. No way you can make $2M a year, not possible.
Wasn’t possible until it happened. Stay tuned for when we break 3.
@@AirbnbAutomated You mean to tell me you make $2M a year, and still have the time to make a TH-cam channel and the kind heart to teach people how to do it? That is a load of chocolate pudding my friend.
If you go allll the way back to the beginning of the channel. Was making 30,000 a month. Last May I posted a video about reaching $70,000 per month and I broke down what my cost structure looks like. A year later I’m still at it. Nothing wrong with keeping the channel alive. Though to your point finding time gets a little harder
Why is it not possible?
I'm a top preforming Realtor in Philly. Would love to help you find investment deals for your business. Let's find time to talk a out your needs to grow you Philly sector!
what kind of landlord lets his tenant airbnb his property.
I can’t really say there’s one kind. I know 100a. They’re all their own people
Still doesn't explain how you made millions from 4000.
We cover aaaaall of the other details in older videos.
Simple answer is I started one airbnb with that $4000. Reinvested the profits to 2 Airbnb’s, 3, 4, 10, 25, 50 and so on.
Now we have almost 60 properties
Airbnb Automated hey Sean, I’m a big fan so far. Just one question though. Would it be possible to verify if you actually have 60 properties, I’m only assuming you may have not shown any form of verification. If you have, I apologize and would still like to see it for myself. I hope that isn’t too much to ask and thanks in advanced.
I’m sure I can do that on a future video for you
Airbnb Automated thanks a lot, boss!
Notice how he at one time says $3000 and then $ 4000 to start.
Sounds fishy doesn't it?
Because it was in between, $3300 ish
Oh, and I said “less than $4000” 4 million, 4 years.. I wanted to use a 4. Let a man use a 4!
@@AirbnbAutomated
"I started with 3000 ish and now I am at $ 4 million in 4 years" WITH NO INVESTMENT.
Yes, sure: And my mother invented pop-tarts...
That $3000 was my investment silly person
And the proper reference is that your father invented toaster strudel, ..Gretchen
Sooo 13 minutes just find out the secret is to just buy more properties. wow
HA! Nooo. Don’t even buy
PURE GARBAGE 😏😴YOUR MATH IS NOT EVEN ACCURATE 👉👀 🏃🏃🏃
That must mean anyone can do it. Because I’m drowning in airbnb revenue and I don’t even know how to count it.
ome emo I shake your hand! He is scam.
You guys are pathetic, this is a great video with loads of great content. I’m an Airbnb host too and I know all this. You guys are just so ignorant.
bbyybda I know, right? The gentlemen is just trying to help us and expand his business by teaching us some good stuff, I don’t get any negative vibes like some others do for some reason.
Btw, do you have any pointers for a new comer? How are you doing with your business if you don’t mind me asking? Anything helps. Thanks bro
Total bullshit x 5.
How to get rich quick while no one can afford the damn rent. YOU ARE THE PROBLEM......GREED
A lot of talking about nothing 🤦♂️
You must have been watching the last two years. This isn’t a video for newcomers