Step By Step Getting Your First Airbnb Property!
Can you make tons of money renting on Airbnb and get landlords to say yes to giving you a property? Yes!
The answer is yes. I get asked almost every day in my day-to-day life, “How do you get landlords to tell you yes to allow Airbnb in their properties?” “Is it really that hard?” “How do you start?” It's actually really easy! In this article, I'm going to teach you exactly how I started and how I got my first couple of rentals. Trust me, guys, you could do this without ever leaving your house. You could start as soon as today! That's how easy it is. I'm going to teach you the secret right now!
In most cases, you're probably overthinking it. I think that's really what happens see, the process is overthought and you read 30 blog posts, and you don't just go start the process. I used this method personally to get into my first Airbnb deal 2 years ago. It is as good now as it was then and I’m currently at over 25 properties not including the ones I manage for others.
First Things First
(TIP!) There's no need to convince landlords when you're talking to them at first, Okay?! A lot of them already have their guard up, that's true! So they'll just tell you no right off the bat. But that's a good thing. Because if they tell you no, you just move on to the next person.
You’re going to do this from a computer with the app that everyone knows. It's Facebook! Yes, Facebook Marketplace. You can pretty much do this from any Facebook page. If it's a personal page, that's even better because landlords can see your content. My Facebook account has nothing on it. It has no friends on there, or It might have two friends, maybe!
You Don’t Have To Leave Your House
Nowadays, to get an Airbnb property, I don't think you have to leave your house. I know a lot of gurus will tell you that it's better to pitch landlords in person from the start. Although I believe in that strategy and that it could work, if you're not a seller and you don't know what you're doing, which is most people when they get their first property (like me), it's really awkward. I had those conversations and got shut down plenty of times, not fun!
Doing it from your house makes it super easy. You're not seeing anyone face to face. It makes the process really easy for you. That's personally why I would recommend this method instead. By the way, I’m Sniper! I run a million-dollar rental business with over 25 properties I do not own personally. I'm talking from experience and a lot of heck nos! honestly, you can do it other ways. This is just by far the easiest way for me. Facebook marketplace is where all the best private landlords are. They're more open to the idea, and you can look for exactly what you want. There are other sites like Zillow, Apartments.com, and actually, Airbnb themselves now has a page that you can find these landlords. Click HERE for more in-depth info on these other Arbitrage-friendly sites.
Get Started
What you’re going to do first is create a page. Then you're going to go to the marketplace section, and you're going to type in “rentals”. You’re just looking through the rentals to pick the areas that you would like to be located in. It's important that before you do this, you know what the city regulations are. You don't want to waste your time finding areas that are not regulated. After that, find something you can work with, I would recommend not trying to be specific, and not trying to be too picky on the property. You want to look for properties that you think are nice enough but not necessarily perfect. I preferably would start with a one-bedroom or a studio apartment.
Small properties are easy to furnish, and they're easy to rent out short term to guests. VS large properties you might have to invest a lot of cash and you’re not sure if it's going to work, which may cause some hesitation when building for the first time. For now, stick to a one bedroom apartment. That, to me, is the easiest way to start.
Okay, so.. this is the message you’re sending to everyone. Once you see a property that you like, it catches your eye, it looks like something reasonable and you think you can work with it. This is the message you’re going to send.
You’re going to copy and paste this message to everybody! Yes, this is an actual message I’ve sent. Just replace the name. The goal right now is we're trying to get people to ask more questions. We're not necessarily looking for a yes. I don't think anyone will say, “Yes, let's do it!” right away. It's more so going to be more questions.
From this message, you can see that what I'm asking is, Hey, do you guys accept corporate leases? What that means is, are you willing to let a business operate on your property? That's essentially the question you're asking, because another part of what you want to do is, create a LLC. That's not something that you need to do right away. Let's try to get you a rental before you commit to spending money on licenses and things of that nature. Doing all that work to not even be able to get a property doesn't really make sense. We're going to focus on this part first to get you in a door.
What I did was: First, I confirmed the property with the landlord. Then, I submitted my information through LegalZoom using their quick-pace method, which speeds up the certification process. Typically, once you submit your name and see that it's available, the approval process is quick and straightforward. You can learn this step-by-step process HERE.
Goal-setting
You're trying to get these landlords/agents to ask more questions. Some will ignore your message, but no worries sometimes these properties aren’t available and haven’t been marked as off the market yet. Some will just say they don't offer corporate leases. You're looking for people to ask more questions. So if they say something like: “Possibly, Let me know more about this!”. Those are the people you're looking for! That's when you want to schedule a meeting to introduce yourself. These are the people you want to meet.
The Pitch
This is the pitch you want to do when at this point. When offering to meet them you're going to do so at the property and go over what you're here to do and how you’re going to run your business, which is STR/Airbnb.
My first tip would be to look presentable. I mean, that's obvious, but I feel it should be said. You want to as if you have it figured out, right?! Even if you don't! You want to look as if you know what you're talking about. You've done it before. It's a breeze! Even if it's your first one, you just want to give the idea. Why? Because If they feel like they're not certain about you, they're not going to trust you. Trust is the main thing here! You want them to trust you off the bat. Talk like you know what you're talking about. Check out my other blog posts for more information to study study study! I give a lot of free information here that will turn you into a pro before you even start!
I recommend the next one being Typical Questions Landlords Have About STR/Airbnb. (link HERE)
This list will help you stay on your toes in this phase of the process. You need to know this! I'm going to give you three top ones right now. The three major questions I get is:
1.What would they have to do?
2.What about parties?
3. What if it doesn't work?
Those are the three main questions. Here's the three answers. What will they have to do? Nothing! Sit back and collect a check. You have everything figured out. You've studied under a professional and completed tons of market research. You know exactly what you're doing! What about parties? This is a very important question. A lot of them will ask about this if they know anything about Airbnb from the news, media, etc. Your answer is, that you also have this covered. You're going to buy noise detectors that monitor the noise level without interrupting guest privacy. This will let you know if the noise is getting out of hand and you can contact them right away. You also heavily monitor the weekends, which is when parties typically occur, and you do not do a minimum of one-night stays on the weekend just to prevent these parties.
If That Doesnt Work..
Offer more money! This is a last resort if you really like the property but isn’t necessary as you can always move on to the next. BUT..this has always been an easy way to finalize and get yourself in the door as landlords do not expect it. It would be more exciting to have you as a tenant, you pay more versus a regular tenant that may ask to pay less instead. This information is also usually passed on to other landlord friends that may eventually come to you! This is exactly what happened in my case. The neighbor's landlord came to me! I got that property with no money down and began my journey to getting rent-free properties and scaling massively. But hey, thats another story for another day!
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