How to Make $3M/Year with Airbnb Business
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- Опубліковано 29 тра 2024
- Since buying their first property in 2009, Sid and Eva have grown their Airbnb business Nicasa to 22 properties that generate up to $400,000 in revenue a month. They talk us through how to start Airbnb hosting for beginners in this video.
This video has been sponsored by Bitrix24. Check out Bitrix24: www.bitrix24.com/~rRjv6
The first question many beginners have about how to start an Airbnb business is how to pay for their first property. The good news is, you don’t need to be rich to invest in real estate. Eva was still in college when she used her student loans to buy her first home. She’ll share how to Airbnb your house based on her experience. You’ll also learn about Airbnb arbitrage and other strategies to get started with little money.
Being an Airbnb host doesn’t need to take up a lot of time, either. Both Sid and Eva work full-time jobs in addition to running their properties. They’ll share the tools they use to run the business efficiently and how they’ve built a team to cut their time commitment down to just a few hours a week.
Nicasa’s consistent bookings are what drive their high revenue and 30% profit margins. Sid and Eva will share their Airbnb listing tips for generating consistently high bookings, as well as their Airbnb set up tips and what guests want out of a property. They’ll also explain the business model they use and how their Airbnb pricing strategy both keeps their revenue high and helps them avoid problem guests.
Anyone who wants to get into the Airbnb industry needs to watch this video! And make sure you check out our other interviews with real estate investors for more tips and advice.
My Journey to $2M/Year in Real Estate ►
• Here's How I Make $2M ...
$100M In Real Estate from Scratch ►
• $100M In Real Estate F...
Resources
www.nicasa.co/ - Find out more about Sid and Eva’s business on their website
www.bitrix24.com/~rRjv6 - Check out Bitrix24
www.upflip.com/academy - Start, Build & Grow Your Business
www.upflip.com/blog/how-to-st... - Our step by step blueprint to starting an Airbnb business
www.upflip.com/podcast - Hear more interviews with business owners on the UpFlip podcast
www.upflip.com/equipment-list... Premier Equipment List
hospitable.com/ - Vacation rental management software
turno.com/ - Resource for Airbnb cleaning services
Timestamps:
00:00 - START
00:48 - Meeting Eva and Sid
01:16 - Getting started
03:18 - Getting first property
04:43 - Finding clients
05:06 - Leschi property
05:21 - Tour of home
05:47 - Managing properties
06:49 - Cost to remodel a home
07:12 - Replacing furnishings
08:52 - Business model
11:07 - Design of Airbnb properties
11:52 - Revenue and margins
12:48 - Factors in choosing properties
15:03 - Investment mistakes
16:09 - Where to find properties
17:14 - Home theater room
17:51 - Scaling an Airbnb business
19:42 - Fan Blitz
20:58 - Booking properties
22:45 - Steps of getting properties
23:55 - Signs of a good investor
24:55 - Rental guest satisfaction
25:41 - Dealing with problem guests
26:19 - Marketing budget
27:21 - In-demand home features
28:00 - What they do differently
29:07 - How to succeed in Airbnb rentals
30:59 - Employees
31:38 - Finding and hiring employees
32:32 - Choosing a name
33:34 - Leadership style
34:57 - Hours worked per week
35:50 - Airbnb management software
37:40 - Attracting clients
39:09 - Airbnb myths
39:51 - Outro
#airbnb #airbnbbusiness #airbnbhostingforbeginners
Register your free Bitrix24 account: www.bitrix24.com/~rRjv6
We miss the old host
@@yourpathmatters Bitrix24 russian company from Moskow
Sid's passion for his business is infectious. He's dropping knowledge bombs all throughout this video. If I were in this space, I would definitely get my notebook and note down his business tips. This was sooo educational.
Couldn't agree more! What are your takeaways? ☺️
except he said zero or little money needed is lie. you still money for airbnb arbitrage or 20 percent down payment for hard money loan. the only thing that you don’t need money is rent out your individual room out ( house hack )
I think 🤔 this what happens when a Chinese and Indian brain unite 😅. Just awesome entrepreneurship 🎉
To keep profit margins at 75-80percent occupancy. Absolute genius. if your bookings are lower the 75%, then they are too expensive, if higher, then your bookings are higher then raise the price. Gold. @@UpFlip
It's my first time seeing people giving actual realistic advices. I had to grab my notes. I came out with 27 points, imagine 🤯
"I bought a house while in college using student loans!"
I have tried renting out my duplex as a vacation home in Florida and it is convenient. I made twice more then working at my full time office job.
Wow! That's serious profit and could turn into a full blown airbnb biz. 💪
2 seconds into the video and the homes look spotless, I'd definitely stay at one of their Airbnb homes
Very enticing! Thanks for watching and supporting our channel! ☺️
😊😊😊😊
The love I have for the Airbnb business called Shortlet renting here in Nigeria is so crazy... I have learned a lot from this interview than I have gathered in the Last 2 years of gathering information on the business
I got more insight on property management for investors which is the line I’m looking into...
Thank you for the free knowledge.
Wow! Thank you so much for the feedback. We are beyond happy that you learned a lot from this video. Good luck on your business! ❤🙏
Wow! Thank you so much for the feedback. We are beyond happy that you learned a lot from this video. Good luck on your business! ❤🙏
Great video! Really love how detailed they are on standardization. One thing that slightly bothered me is they are calling the $3m/year their revenue, which it is not. Their revenue is 25% of that or $750,000 if they are doing $3m in total property volume. It would be the same as Airbnb claiming their gross booking volume (e.g. every dollar going into Airbnb) as their revenue.
Standardization is a very interesting thought not just on short term rentals but long term as well. Having the same fixtures and flooring could go a long way. And I definitely will keep this in mind for my rentals!
Thanks for sharing your thoughts @
Jeff George - HandyJeff DIY!
Really very informative and encouraging video.
Its more practical hence very useful.
Thanks a lot.
Binging for months … best interview! Had to grab my notebook because of the sound information 😊
I love this channel! So much amazing invaluable insight into business! It's so inspiring
Thanks for watching and supporting our channel!
I LOVE THIS CHANNEL! started with the lady candle maker video last night and have been binge watching these videos ever since!! Definitely subscribed!
Welcome aboard @shanellanderson9791 ! So happy you're enjoying our videos! What has been your favorite so far?
@@UpFlip Ep 152! Making 100M from scratch in real estate! I took good notes from that one. Loved the tips he shared about getting a lot big enough to place two houses or a row of apartments. Those apartments with the rooftop area were so nice!!
@@shanellanderson9791 hello ma sorry if am disturbing you please I really wish for your assistance ma, am a African student who is finding it hard to see myself through school due to the bad polices Of the government, please any assistance from you will go a long way to help me start up something for myself, am real am not a scammer am just soliciting for help for whoever wish to help me ,you can call if you wish I can drop my contact for you God bless you as I await your your reply thank.
I own a Drywall construction company, so my funds will go real estate in the future, this my goal ❤.
That's a great goal @mayraramirez8071 ! What do you think your next step is?
Super informative video. I took away so many tips for my Airbnb. With all of the comments hating, good! More houses for me to buy 😊
Downloading this right now! Thank you!
You most welcome!!
i’m confuse . he said you don’t no money or very little money but then at 24 mins into the video , they require their homeowner clients to have high quality furnishing and high standard home ( which you will need a lot of money to furnish your home to his standard . everything else he said are on point and it make sense
Rental
As always you never dissapoint me guys 😎
This video couldn’t come at a better time! I’ve been looking to start a side hustle in AirBnB.
Just beware of all the squatters now in Airbnb, as well as rental houses. Too many in my area are having issues with professionals (educated individuals with good income) squatting in Airbnb and rentals. Just look into that pitfall before rushing into this one.
@@ajm-wu6wd I didn't even know of that issue. Thank you for pointing that out!
You're about 10 years too late.
@@AndrewNguyenOfficial My apologies, I don't want to discourage anyone, but please beware of this issue. You can look it up on youtube as well. Good luck kind sir .
@@networth00 I thought it started 2020, but now hearing it's been going on for at least 10 years in California(my state).
This video is GOLD! Thank you for sharing....
For earning $20,000 per month you need to list $1200 per night, make sure get 80% occupancy rate every single month.I don’t think it’s truth.
My Disney Airbnb single family house with Luxury renovation, 3500 sq ft, can host 18 guests per night, with private swimming pool and a professional home theatre,I only charge $350 per day,just got 60% occupancy rate.
Thanks for sharing your piece of the industry. Reason for pricing is the location! Seattle is an expensive place to be in.
Their transparency and insight are admirable. Kudos to them.
Great tips! Especially having the same furniture pieces in each property
thankyou for all the info...gr8 work ,both by the interviewer and interviewees !
Thank you! Are you considering running your own Airbnb biz? Hope you learned a thing two from them 💪
This was soooo good. Very informative and very well presented. Kudos to you 3. Enjoyed every minute of it and saved it to watch again. Thanks
We appreciate your kind words! What videos would you like to see more of?
I WAS SO EDUCATED AFTER WATCHING THIS VIDEO. GOT A LOT OF IDEAS NOW.
Applause and hats off! These guys are we should all strive for in regards to starting and maintaining any business. Beautiful.
Thank you @SEBAYANI08 ! What was your favorite part of the video?
@@UpFlip quite frankly all of it. I'm looking into becoming an entrepreneur and this video is like a tutorial to start a great Airbnb business AND make it succeed over time. Every bit of it was great. I can't wait to get started owning real estate.
AirBnB stories are quite misleading because it has now become very competitive and if you had started a couple years ago like this couple and have built up reviews you are much more likely to continue to be successful - much much harder for someone to come in new. Also there are many places where your rental income yield is not very good due to high property values. So not everybody can buy a house for $15,000 and rent it for $500/m...that is unheard of in many places. I love in an area where you cannot find deals so you are assured a yield of 10% or less.
Host:
1. How to handle emergencies and cost such as water leak, gas, electrical, fire, major damage to property ? What kind of agreement / contract so both host and owner are on the same page with no conflict (and law suit)?
I love their model and their energy
glad you liked this video! are you interested in having airbnb business?
What great content, great job NICASA thank you for selflessly share all the amazing tips, wish all the success in your business I would love to work with you!
Glad to hear you liked it ;)
This is amazing. I am learning so much. ❤
What are your takeaways? ☺️
Thanx for this video. I might have to use them and see if they willing to do Miami area. I appreciate this video
Glad it was helpful!
Really enjoyed this.
Thanks.
Hope you learned a lot from this video! ☺️
This is the Goal for My New Apartments in The future!
That's so cool @Lewis24hrs ! What do you think your next step will be?
Great content👍
Thanks @princekwadzokpoe5983 ! Was there a part that you particularly liked?
Did you guys see their credentials? The guy is a Wharton MBA and the wife is a Michigan MBA, UCLA undergrad in finance and Microsoft employee. No wonder his business is so organized.
They're a power couple! They converse in numbers and it's amazing! 🔥
That makes sense. I could tell there was something different about them. They are building synergy and looking at long term potential in both rental and human capital.
Great videos...be nice to see more online businesses.
Glad you like them @tcb7098 ! What kind of online businesses would you like to see?
@UpFlip nothing particular....just something a person could do even for a side job to make money....lot of people have ideas just don't know where to start.....I've had shopify store and had a few sales....but need faster shipping times, Aliba alternatives......or maybe a .....oh a food order business like oh .....nuts or something. Coffee is popular. Some suppliers will put your logo on the items for you for Coffee or nuts or whatever.
I've had the pressure washer idea before.... those are good videos
Who's your writer? Excellent interview questions!!!!! This was generously informative. Keep it up guys!
Thank you!! Are you also in real estate?
26:52 don’t forget direct bookings
Wow! I love what you have to offer. I'm looking into starting airbnb, thus is great information... how do you start a management co?
Hope more rules coming for airbnb
Did you learn a lot from this video? What are your takeaways? ☺️
This couple just gave you a short versioned AirBnb MBA
They sure did! They're really knowledgeable and generous with their wisdom☺️
thanks for the info.
No problem! Thanks for the support. 🙂
These type of first time investors are going to lose everything in a few years once we're deep in a recession.
Would be nice to see an update on this strategy.
Thank you
You're welcome! Thanks for watching. ❤
Great information.❤
Glad it was helpful!
I love this. Very inspiring.
Great content. I'm aiming to start this business in Suffolk UK
Thank you! And you got this! Let us know how it goes, will you? ☺️
this feels like a market thats peaking
It is! We appreciate you tuning in! Thank you! ☺️
Nice content ❤️
Thanks!
Thanks for reply
Great information
That’s amazing
We hope you enjoyed the video - thank you for watching! ☺️
Sid and Eva are amazing
What the lady did with her student loans I don’t believe is legal but I am impressed.
She's made a very smart move! 👏
Watch out for local regulations. Where I live everybody needs a hotel certification now.
That's true. Before operating any business, always consult with your local business lawyers. Curious to know where you live?
@@UpFlip Montreal (Canada). Law changed this year, not enough apartments available for citizens.
Wow, wish I can work free part time weekends in exchange to learn from them for this people 😊
We certainly learned a ton from them. Thanks for watching! ☺️
So are owners of these property? Or are you just managing?
it's cool,great idea!
Glad you like it! Thank you!
Wow he’s amazing and smart
Couldn't help but admire him at what he does too! 👊
wow this video was very helpful
Glad you found it helpful! Did it inspire you to start exploring opportunities in this industry? ☺️
Did you change the thumbnail because I’ve never seen this thumbnail when I watched it last time it was a man in front of a white big house?
sounds sus that they can get 500-1k/NIGHT... that's too good to be true. And are they also implying that their fill rate is 100%?
They said 85%
Whats the risk?
AirBnB’s are ruining the housing situation on Maui. People who don’t even live here buy up all these houses and condo’s for AirBnB/Vrbo. Maui people have no where for their families to LIVE because of all of the short-term rentals everywhere.
Yeah but with enough money you can forget about ethics and empathy. I really hate this kind of videos is just a slap in the face to everyone that can't afford a house because of businesses like this. Legally they are ok but ethically I could never seeing the state of things.
@@V1N_574 - So true. I’m glad the people in the video are so successful at this, but these kinds of short-term rentals are an absolute nightmare here on Maui.
We are so sorry to hear about the situation in Maui. :(
let me guess. You are local right ? And I own 9 listings here, so whats up :)) Look like I give a F ? Just move . thats it.
Btw, I live in San Francisco :))
@@UpFlip - It’s the current situation here. The county and state are cracking down on the illegal short-term rentals and the nuisance ones that are located in residential neighborhoods where they don’t belong.
8:57 amazon flywheel
Super
We appreciate you tuning in! Thank you! ☺️
@@UpFlip I am from India HYDERABAD 🇮🇳
What about squatters is there a video for that please explain 😅
The only thing I think about is how these people make a ton of money by making sure 22 properties cannot be purchased by others to have as their primary residence.
Thanks for sharing your opinion!
Who cares about the housing crisis in Seattle?! As long as they get theirs right? 😂
They get theirs and 22 other families get told to deal with it. Fair deal!@@sohrobby
Do you have to buy the Toiletries and decoration or the owner does?
It depends! Sometimes your cleaning team can handle that for you.
The mind of an IITian !!
debt to income ratio?
To learn more about it, please keep on watching! ☺️
Smart couple!
states are breaking down on airbnbs
Thank you for taking the time to watch! ☺️
Makes no sense to have 20 of the same coffee makers because if one coffee maker goes down you don't have to replace it with the same exact brand
Interesting point @jessed6379 !
common sense is not so common.
This is the last thing the reeling real estate market needs right now, as an Air BnB investor i think due to the similar mode of operation like WeWork, we might soon be run off the market. Essentially why i'm at large for exit measures or where to allocate $1m
Did anyone else get an Airbnb ad with this video?
Airbnb - is a good business.
You're right! Thanks for watching ☺️
I didn't know you could use your student loans to buy a house
Its likely from the overpayments you get after tuition and books are covered.
Tuition can cover many type of authorized expenses. Rent/mortgage is one of them
You certainly could! Thanks for watching! ☺️
Their kids are gonna be geniuses!
Racist
You don’t have to be a genius for a property business
I doubt that
Thank you for watching and engaging with the content! ☺️
i'm wondring does the owner alow you arbitrage his own properitie, is that legal in usa? and thinks for all i'm from morocco
It all boils down to the specific state law and what the property owner's rules are.
Get in touch with a CPA FIRM
Noted on your suggestion ☺️
montreal banned airbnb
@@Wideolink 7 ppl died in a building managed by an airbnb owner not having the building up to code so the city banned them
@@Wideolink downtown core to be precise
We're so sorry to hear about the unfortunate incident. :(
Good
I wish more cities would
Which books did he recommend?
He recommended How To Win Friends and Influence People by Dale Carnegi and Zero to One: Notes on Startups, or How to Build the Future by Peter Thiel! ☺️
People: "man, housing has gotten really expensive"
Also people: "hurray to those driving prices up"
I make 200k a month with airbnb…
Which country and how many properties ?
Like how??
Stop lying
How can I reach out to them to ask em stuff
They do have a website. Link’s in the description! ☺️
Toronto only allow one Airbnb property per owner and it has to be principal residence
Wish it was like that in the states also.
Thanks for sharing that info with the community! ☺️
Nobody is renting from Airbnb, we know it ain't even worth it anymore
@pauln7029 Believe it or not, AirBnB is still reporting a 16% to 21% growth in 2023 Q1!
Seasoned Airbnb experts
They absolutely are!
Good
We hope you enjoyed the video - thank you for watching! ☺️
How do you buy a house for $15,000 in Seattle or anywhere else for that matter Even in bum f*** Idaho it's more than 15,000 for a home
Basically the company profits between $15k to $30k per month, let's say around 250k per year profit. For the company. Then the company has to pay taxes on that $250k. Then you have more taxes if they want to take the money to their own bank account.
So in the end, they get like 50k each or less.
Ownership is key to Airbnb's in my opinion. The equity built by renters and tax (depreciation) benefits for only a few homes is enough to retire on.
What kind of calculation is that, they are married, you think they paid 150k tax on 250k income? The tax would be around 20 to 30 percent max. So there take home is 180k to 200k
@@onlyitj Also its a business and there are a lot of tax havens
Thanks for sharing your thoughts! We appreciate you tuning in! Thank you! ☺️
@@onlyitjright? How do you pay 150k taxes on 250k profit? 😂
So these guys hog up houses on the Seattle market to make millions when buying a house in Seattle isn't hard/ expensive enough. Thanks
but if they sell all houses and buy a hotel is more easier and manageable.
People making this much on air bnb is why rent is so dang high
Very smart couple
Smartest we've interviewed! 🔥
He looks like ken from meld protocol lmao
Thanks for watching and supporting our channel! ☺️
“Just buy a house “
We hope you enjoyed the video - thank you for watching! ☺️
Its not passive
Its passive if you use their management service
I am join your business plzz help
If you want to learn the nitty gritty of starting any business, please head on over to our blog and listen to our podcast for more detailed information. Best of luck! 👊