Start-Over Success Business Under $4,000:
AirBNB Property Management
Think you have to own properties to start and grow an AirBnB Property Management company? Think again.
For Baby Boomers looking to invest in an AirBnB business:
No Credit.
No Property.
No Problem.
Establish an LLC and build credit.
Rent Property.
Get an agreement for your LLC to rent the property out.
What You Need to Run Your AirBnb Business
Lease property.
Seek favorable terms.
Buy furnishings.
Focus on function, amenities, style, and hospitality.
Plan for your AirBnB “hero shot,” to stand out against other listings.
Establish an LLC and build Business Credit.
Knowledge is Power
I haven’t done this before with any of these business opportunities, I haven’t said that you must take a class (unless it’s required by your state or city). But…
This is a unique situation where what you know – or don’t know – can make all the difference. So, I will recommend that you take classes from Sean.
The good news is: You can take a free class to see if this idea is interesting to you. And watch the other YouTube videos on Sean’s channel. Visit info for beginners.
Succeed with this AirBnB Business Plan then "rinse and repeat."
With one AirBnB property, there’s not a lot of profit. With ten, the cash flow is significant. With twenty or one hundred, the income is life-changing.
Since you’re working with rental properties, not properties you own, are you building “legacy wealth?” Yes.
Most businesses have value and can be sold for multiples of their annual cash flow. Your AirBnB business can be net profitable and can be sold down or passed on to heirs – for them to run, or for others to run and pay a percentage of monthly to the heirs.
What About Challenges in the Short-Term-Rental Market?
Where there are problems there are often opportunities. That appears to be the case here. With a glut of apartment rental properties, you may be able to negotiate really favorable terms with leasing agents.
Remember, fortunes were made in the Depression. It’s about discovering what people still want and will pay for, no matter what’s going on in the economy.
AirBnB has proven that, as long as people travel, they like paying less than at a top hotel. And, while not all AirBnB properties will be rented out, there are things you can do to compete and to win.
You can learn from an expert like Sean Rakidzich, which is why I so strongly recommend him.
The Downsides to AirBnB Rentals
1. There’s a lot of work involved in getting the AirBnB set up, advertised, and then tenants moving in and moving out, many times each month. Keeping the place clean and stocked is a job.
2. There’s higher maintenance because people are renting short-term. And you need 5-star reviews, so you have to be on top of maintenance.
3. Worst of all, zoning can change, disallowing short-term rentals. Because of that, your AirBnB model can be at risk.
In. 2023, there’s been been a downturn in real estate and the AirBnB market. Where there are challenges, there are often opportunities, and that can be the case here. Learn more
What's Next For You?
Adding more and more inventory to your real estate rental holdings and increasing your net worth may be your end game.
To refer to the Rich Dad, Poor Dad model, you go from Self-Employed to Business Owner, to Investor – investing in your Airbnb business.
And, you may want to invest in owning real estate, another kind of business, or in the stock market.
