bedroom, interior design, house

Airbnb is all the rage these days, and it’s easy to understand why. Airbnb allows short-term or even long-term renters to enjoy the trendiest neighborhoods from the comfort of a home complete with a kitchen, which can save tourists hundreds of dollars in dining out costs. In fact, no one knows all this better than Lazaro Vento, who created the Million Dollar Airbnb Course.

During the latter part of the COVID-19 pandemic, this Airbnb trend ramped up even more, as vaccinated individuals felt more comfortable satisfying the travel bug and took advantage of low airline ticket prices and remote work to explore new and exotic places. For many professionals, working from home has never been better. After all, how can one resist gazing at a stunning vista over your laptop during your weekly team meeting over Zoom? 

The flipside to this, of course, is there is a ton of money to make in Airbnb as a host. However, many people hesitate when they think about investing in their first Airbnb property because they don’t know how exactly to get started. Below, we will take you step-by-step on how to get started in building your own Airbnb empire. 

1. Do Your Homework

As with any new enterprise, it is always vital to do your homework. You will need to study the real estate and rental market in hot and trendy neighborhoods. You may even have to call landlords and real estate agents to get the inside scoop on a certain property or area. 

This step is laborious, but keep in mind that finding the right investment does not happen overnight. Searching for the right property for the right cost will take time and patience. You may even have to drive the neighborhood and speak to residents and landlords. You will want to stand out through professionalism and engaging positively with everyone you meet in this quest. 

Once you find your first property, you will want to leverage this rental to find and secure other properties to rent out on Airbnb. Landlords will feel more comfortable with you the more properties you have in your portfolio.

In order to gain credibility in your endeavor, you may want to hire a professional photographer to ensure that your photos will stand out for both potential renters and future landlords with whom you may be interested in working.

2. Leverage Your Connections

Establishing and leveraging professional contacts is important in almost all aspects of any business, but it is especially important as you build your Airbnb empire. This is because once you start finding your connections, you can rely on them to help you if you have any questions about different aspects of running the business.

For example, you may have questions about property management companies or cleaning services. The bigger and more experienced your professional network is, the easier it will be for you to find answers to your most pressing questions. 

Your professional Airbnb network will also enable you to find more investment properties to either rent or buy. The network will also help you stay in tune with Airbnb updates, hot new neighborhoods, and tourism trends in the area. 

3. Build Your Airbnb Empire

Once you have tapped into the Airbnb community and found a few places to list in your portfolio, you are a few steps closer to fulfilling your goal of renting your properties on Airbnb and reaping the profits. But remember, before you do, you will also need to outfit your properties with appropriate furniture, WiFi, cookware, dishes, and other such details that renters will expect. 

It is absolutely vital that the description of your rental on Airbnb matches the actual accommodations. This is because you will need to maintain a high rating on the platform in order to attract guests to your post. 

As you calculate what your profits will be, keep in mind that you will have expenses to maintain the properties. These expenses include utility bills, cleaning fees, and maintenance expenses. If you are renting properties that you own, these expenses could also include any major maintenance and repair expenses that you will need to repair down the road, like installing a new hot water heater or replacing the roof.

Are You Ready to Join the Airbnb Revolution? 

Airbnb can be highly profitable, but it does take some work and should not be considered 100% passive income. Luckily, we are here to help. As a licensed corporate housing company with a never-ending dedication to providing quick and easy rented property solutions to entrepreneurs, our years of expertise help us make better choices, ensure safety, and provide the highest customer satisfaction. If you feel like you are ready to build your own Airbnb empire, take this Million Dollar Airbnb Course and learn how to build your own successful Airbnb enterprise.

About Lazaro Vento

Lazaro Vento is a real estate entrepreneur, Airbnb expert, and founder of Brickell Cigars. He rose from poverty to generate a seven-figure income in Airbnb property leasing and management and offers courses and seminars on building a real estate empire. To learn more visit https://linktr.ee/brickellcigars

 

Opinions expressed here are opinions of the Author. Influencive does not endorse or review brands mentioned; does not and cannot investigate relationships with brands, products, and people mentioned and is up to the Author to disclose. Accounts and articles may be professional fee-based.

Tagged with: