How she's making $80,000/month on Airbnb during the Airbnbust

[@paulashealthyliving]

I didn't know the term "co host" but I remember when my friends and I rented a fairly high end airbnb. We were met by an acquaintance of the owner to check in, he touched base with us and assured us that the cleaners would love all the food we were leaving. He came to check that all was well when we checked out. We chatted and he said that he was a retired realtor and property manager and he could make some money this way by helping a landlord that lived elsewhere. I thought it was brilliant and a win-win-win situation.

[@josiahamaze]

20:26 Cohosting is way easier and less risky

[@hvoelker12]

Can you do a video on creating an SOP?

[@bellad1063]

@ me too 😂

[@DesertSTVRs]

Did she share what part of California she manages homes in? Maybe I missed it. I co-host anywhere from 20-30 properties in Coachella Valley area and have been for the last 7 years. Unfortunately, with the huge uptick in short term rentals in the area over the last two years, co-host are being cut, due to owners being unable to cover their own mortgages let alone a 15-20% co-host fee.

[@techtom83]

Still a little unclear, genuinely… what’s the difference between cohosting and managing? Like being a property management company? Or is cohosting the term for “short term rental management?”

[@colincass7578]

cohost, think like your running airbnbs, you need an actual team to handle 24/7 calls, check ins, a lot really, and cleaning, so this chick is basically like what upwork or a va is, but with USD dollars, and I'm sure she has a small VA team, so she's probably paying 3 va's 3k monthly, and she is just getting the work from other airbnb folks who didn't realize all the work it truly takes, so she's an ADMIN brotha, getting her commissions split, plain and simple, and the more work, more va's,

[@ParadoxxedMedia]

The biggest difference between a co-host and property manager is how and where you are getting paid. With Co-Host, Airbnb pays the Owner of the property directly and pays you 20% of that (or whatever you negotiate). With property management, you are typically collecting the payments directly guests and then paying the owner. Generally speaking 99% of the time if you're going to market the property on Airbnb you will use a Co-Hosting model. Property managers typically do "off-market" STR properties not on Airbnb. Also, I think in a lot of states of you have to have a property management license if you plan on going in that direction, which is not what this video is about anyways. Hope that helps!

[@Joeslowcostlifestyle-py9ww]

I do both arbitrage and co-hosting. Although my arbitrage units carry more liability, they generate a higher monthly income for my company. Due to this, I consider co-hosting and arbitrage to be equally significant.

[@Joeslowcostlifestyle-py9ww]

Do you ever pitch current Airbnb operators, or only owner's of vacant properties?

[@airbnbgirllaura]

Lol. Just realized that I’m also a co-host in addition to the STRs I own. It’s so smart to do the 20% of gross and to include consumables and cleaning in that. Simplifies operations a lot. Will negotiate that for any future co-host deals. Also love the Latino power in this video!

[@WanderlustSteph]

Does anyone think about the impacts of airbnbs on the local rental market for the community before they go into this type of business? Genuinely curious if the Airbnb fanatics really look at that! There’s such a trend in lack of affordable housing bc of this and also other reason. But yes this does have an impact

[@valeriemoncada2990]

Think the government has to let builders more homes. That’s the only way to solve that issue. Airbnb is not gonna heavily impact it and even if it did why is it their responsibility to care? Isn’t it the governments job to make sure builders can build without having to go thru all the bs permitting?

[@kimberiysmarketstrategy]

It doesnt affect it as much as youd think. Its only >1% of the market overall. Also HOA doesnt allow for it at all. Best to look in those areas if your looking.

[@eddiemalvin]

We only offer short term rentals in areas where vacation homes/rentals have already been well-established for decades (ski resorts, beach towns, etc). We've also only purchased properties that were 2nd homes, vacation homes or short-term rental properties. We don't convert full-time residential homes in exclusively residential areas to short term stays. For the record, we're not doing this to be altruistic. We're simply minimizing the risk of anti-STR laws. Communities that have been embracing and relying upon tourism for 50+ years aren't likely to kick out Airbnbs.

[@tracy3066]

My biggest turn off from doing co-hosting would be dealing with the cleaners. We use no outside cleaners for the homes we own. How? One of the owners cleans them! We had a 6 bedroom waterfront house with a pool and I hated dealing with the cleaners. All of them would promise the moon and not deliver. I was thrilled to finally sell that house. So I don’t think co-hosting is for me. Money is good but stress is not.

[@tracy3066]

My question would be the same as someone who does Arbitrage. As a co-host aren’t you worried about getting the property setup and the owners changing their minds and just doing it themselves? How long are their contracts for?

[@agiesabali]

You can charge them for the entire thought process. Hourly or per project and even if they end up doing it themselves, you made your time worth it.

[@junamellopez5649]

What is the difference between cohosting and property manager?

[@ammylopez1867]

quick way to see the difference: co hosting is property managing plus the hospitality part of ABNB (and others) that property managers are not responsible for. Cleaning and maintenance of the inside of the home is not something the property manager usually is responsible for.

[@hickorysmokedribs]

A property manager collects the rents and then disburses it to the owner A co-host doesn’t collect the rent, the owner(host) collects the rents and then pays a previously agreed upon revenue share

[@gegomez]

So she’s basically a property manager ? I’m confused :/

[@allaboutrap1]

Yes, that's what I'm getting from it.

[@networth00]

Property manager = collects the money then pays owner. She, lets owner collect money then bills them. If she collected the money she would have to legally have a RE license.

[@karenbickford8345]

Great interview!

[@kristennegrotti7354]

This is so much more promising than arbitrage. I did it for one high income property last year (highest reservation was 58K over 2 weeks!) and cost me literally nothing. I also think your math isn't mathing - 20% of 100,000 is 20,000 right?

[@lynxArul]

Rob is not so great in Math 😊 .. but hey with his approach you'd make 16k per mnt

[@lynxArul]

The right way is: $5000 x 12 = 60k 60k / 20% = 300k So find a property that makes 300k or 3 100k properties to make 5k a mnt

[@RealEstateThinkers]

@@lynxArulplease explain the 60k/20% in more depth

[@lynxArul]

@@RealEstateThinkers If you are aiming to hit 5k a month, that means per year it's 60k (5000 x12) Then to figure out what the yearly annual needs to be. You'd need to take 60k and divide by your % that you'll be charging. In this case 20% co-hosting fee. So 60k/20% = 300k

[@onetwo4932]

I do agree with you on the arbitrage thing you mention I feel like it’s getting to over saturated but I does sound like a good starter, I’m stuck between both right now I don’t currently own any properties but I feel like I need some experience before if I wanted to cohost

[@lukekorver7769]

Does the co-host host the property on their existing Airbnb account? Would provide value to the owner to use a co-host and their existing airbnb account with established great reviews.

[@mbxhomes]

Great question Luke! Yes, we usually ask the owner/host to attach us to their listing as a “cohost” - but there are times when the previous cohost or management didn’t do such a great job, resulting in poor reviews. In those instances we create a new listing and the owner has the option of attaching us or having us host the property on our account. Hope this helped

[@drconstancearia9005]

So does the cohosting arrangement only work for landlords if the cohost lives and works in the same area?

[@mbxhomes]

Not at all! We remotely co-host a few properties 🎉

[@techtom83]

@@mbxhomesthis is a really good question, because in desert hot springs, ca., for example, the owner or property manager has to be within 30 minutes of the home. One time a guest was going to get a noise fine from the police. The cops said they won’t give her one if the owner/manager gets here within 30 minutes. We couldn’t make it. They gave the guest the fine and we were also fined for not being there within 30 minutes. So how does a co host go about handling this without being nearby?

[@mbxhomes]

@@techtom83 We have this same regulation in Big Bear, CA - and we make sure to have a local partner in the those specific areas, that represent us a company.

[@jeremiahbarnett3509]

In some states you have to be a licensed Real Estate agent. NC is one of them

[@thehammah8039]

In many states you have to have a real estate license to co host. How does she get around this?

[@mbxhomes]

Thanks for watching!! That is the main difference between a co-host & a property manager. We don’t distribute funds, a property manager does.

[@janscilipoti3823]

Check your state’s regs. Many do not require an agent’s license to manage transient rentals (usually defined as 30 consecutive days or less). If you need to be an agent, the required courses aren’t overly expensive. In my state it’s less than $600. It’s great info to know, regardless!

[@andeymintz]

I’m pretty confused about the VA pay. 160 hrs a month for 960-so you’re paying them 6$ an hr??? Where do you find someone willing to accept so little?

[@sportsbettingstar]

Different countries. Philippines.

[@slin4013]

Maybe cuz they are just “on call” for 960 hours. Actual amount of work is 20 hours

[@lukekorver7769]

The VA can work 10 properties at once, right? So likely more than $6 hr.

[@letsseewhatsnext1370]

I’m curious if co-hosting would technically qualify you for the real estate professional tax breaks? Great way to build the business with those write offs.

[@investing-with-ethan]

Almost certainly if you spent 750 hours in a year managing the property, which is what you are doing as a “host” or manager of a short term rental. This is my opinion because I’m not an accountant, but it seems logical.

[@kimberiysmarketstrategy]

It has to be a write off from income, as a host your making a percentage of that income. The STR rules for homeowners does not apply

[@wildernesscapes]

Does she pay the cleaners out of her 20%, but the owner keeps the cleaning fee charged on Airbnb? Who pays for the consumables?

[@josiahamaze]

8:44

[@debrahuynh261]

What market is she in?

[@eddyb9642]

Isn't what they are calling "co-hosting" here just property management for STR?

[@prettylilyflower326]

Hi. I about to to go on board doing this business. I'm very new in this and now Listening to you makes me think that hiring a cohost is the way for me. Do you know anybody from Kentucky to partner with me?

[@luisarevalo8394]

Mdx homes? What’s her handle?

[@ZiadTheLoanOfficer]

Its not scammy , we just have no skin in the game which is great.

[@joerosato1163]

nobody wants to pay a co host 20 to 30 percent on there rev each month that's way too much.. hire a va and have ai automation. arbitrage all day you have more control, plus 90 percent of co hosts suck. whatever a co host can do an operator/owner can do.

[@GreyHat182]

She said it felt “scammy” 😂

[@jrodcutcotexas8117]

Rob has said it before . You are over paying for Co. hosting 😂

[@slin4013]

So let’s say you make (revenue) $1800 a month on avg for a property- how much of cost is there for cleaners, supplies and miscellaneous stuff?

[@mbxhomes]

Great question!! On average for a 3/2 we spend about $250-$300 on good quality supplies!!

[@raynox_cs]

@@mbxhomes So what is an ideal property to onboard for you guys? Also can you list the expenses from your side?

[@tylerferguson3575]

Think Robs math is off. 1 million book of business for 50-60k per year?

[@koby2995]

Do you talk to current airbnb people or just home owners that are renting their property?

[@mbxhomes]

Majority of our clients are brand new to Airbnb!

[@koby2995]

@@mbxhomes I would like to know how to find them, I live in Indiana and I'll be open in doing this but have no idea how to reach this people.

[@networth00]

I'm not paying anyone 15-20% to manage my property when I pay 50% for the note, then have repairs and such... that means she's making more than the person who bought the house and has hundreds of thousands (maybe millions) invested. #nope

[@tinachxx110]

I have a property manager and i can’t wait to take back the properties from him

[@JonathanOyedokun]

Why is that

[@johnnyb33good21]

What happened?

[@maplenook]

Location location location

[@stevegwizzle3560]

AirBnB bust? Or is it about to be a whole economy bust?

[@TenheadLife]

With hotels cheaper again no one is going to pay $200 cleaning fees

[@UNDaDog757]

You will when you have a large family and you want to be together. The prices even up or cheaper for the airbnb

[@Palantir_Daily]

Ignorant statement. Hotels are not competition for large Airbnbs. The only Airbnb’s that are competition for hotels are small 1 bedroom apartments.

[@brandotex]

Sorry bad take. Larger families love to get together

[@TenheadLife]

@@brandotex No. I wasn’t referring to big families. But there are many small one bedroom options similar to a hotel that still charge a huge cleaning fee. Obviously hotels aren’t options for large families or groups. Have a good one

[@TenheadLife]

@@Palantir_Daily Of which I was referring to. It’s pretty obvious and ignorant of you to think I’d mean otherwise. Hotels have nothing in common with large places for big groups. But there are a LOT of tiny airbnbs so my comment applies

[@nivesh250]

Its better to get the homeowners to let you run the airbnb as a host and you take 15 to 20 percent of the profits a month. Most people with lots of Airbnb's do this, as the owners do not have time to run it. To me co hosts take over the properties from the hosts to help them with their 50 or 100 properties and share profits with the hosts. Her pitch seems more of a con.. I still don't really understand what she really does... How does she help with improving the house? and improving cleaning services? she doesn't really specify anything.. She also dodged the questions of how she manages 50 properties... Sounds like a hustler to me

[@lukekorver7769]

Seems like she is doing ALL the legwork of running a good property, owner is only paying the bills, in addition to bringing the skillset and experience to maximize the income. That's worth 15-20% all day.

[@nivesh250]

@@lukekorver7769 Then tell me exactly what she is doing? because she didn't really explain any specifics lol

[@lukekorver7769]

@@nivesh250 She runs the calendar, schedules the cleaning/trash service, handles the marketing, manages the landscaping, all guest communications, manages handyman services, runs the books. If its a new booking, she gets the home ready for Airbnb, everything down to purchasing and setting up the furnishings. Basically her company does everything but paying the mortgage and taxes.