Thank you for mentioning the "passive" versus "active" part. I think that a lot of AirBNB hosts think they can run an AirBNB as if they had a long-term tenant. They don't communicate well with their guests and they offer little to no personal attention.
Nice thing with air bnb is it’ll turn u into a “real estate professional” and on ur taxes that’ll allow u to offset your active w2/1099 income with passive losses (think bonus depreciation) . Your welcome
Not welcome. Not quite. You need to satisfy the requirements to qualify as a RE Pro. #1) You must spend 750 hours a year on real estate related work. 2) You must have 7 days avg stay, which is hard if ppl just book mainly weekends or for a night. 3) U must spend over 50% of your time on RE. So if you have a full time job, you won’t qualify with all the tax breaks. Drops mic 🎤
I've rented through airbnb probably three times.I was ripped off by airbnb twice!!! And, the cancelation criteria seem to be "strict" . Now, I've moved mostly back to hotels
You still pay more going to a hotel. Even though Airbnb prices and fees have skyrocketed, it's no comparison to how much more expensive hotel bedrooms are.
@@aurorarene9909you are 100% wrong. I live in hotels all the time, and they are about the same price as Airbnb. And even cheaper sometimes. Simple calculation will tell you. And I’m typing this from a hotel right now 130$ a night. Way better deal than the Airbnb’s. I also have cleaners and other professional hotel treatment.
@@aurorarene9909 Respectfully disagree with you, Airbnb was a good deal when it first started, it no longer the case in my opinion. Too many fees added to the actual rental price
And then they have all these rules, got to clean, wash the towels, take out the trash etc. make the bed. I feel like a teenager living with my parents with a list of chores. when you are on vacation it so you can relaxed.
Hey Jorge 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
real estate overall sucks imo as an investment. i only do real estate because it diversifies, like gold, crypto, stamps, art, etc. everything can't be portfolio investments. but overall my real estate investments are the least performing and the most headaches and management. i don't even know why i keep my rental properties at this point. house everything breaks down and coops the special assessments never end.
Not a scam, but you need to make sure they align with your interests and goals. Some are dog shit, over charge, barely check up on properties, don’t answer calls, etc. However, if you choose a decent management company or hire internally, you can have a great experience with them. In terms of need, if you’re working 40-50 hours per week at a normal job and have one or 2 properties (sub 8 units), you probably don’t need one. Similarly, if you’re a full time real estate developer with multiple properties but sub ~24 units, you probably don’t need one. However, if you find all of your time is being taken up by managing properties or your properties are super spread out (an hour + apart), a property manager might be a good fit. It’s important, however, to ensure you don’t lose all profits to a property manager, and that having one allows you to expand your portfolio
As a business goes, even if you hire, you as the owner in the end you are resposible. If things happen and the managers fails to respond or do the job right it falls on the owner.
I was just talking with someone last week about this... I have 3 apartments and would like to put them on Airbnb as active, but afterwards I've been thinking that it's better to have them as long-term
Hey Beth 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Managing it isn't that big of a problem it's finding someone to clean them I'll clean the first two or 3. Then at some point I like to take a vacation it's hard to take a vacation when they're constantly being rented out of course if I can't find a cleaner when I'm ready to take a vacation that's what I'll ask the Airbnb people to flip it for me and I'll refund them there cleaning fee. That seems to work as they barely get them dirty to begin with.
I manage my 4-plex myself and have been doing so for 4 years. Im thinking about turning one of the units into an airbnb to try it out. If turns out good I'll turn all 4 to short term rentals
Airbnb is dying out way too much hosts! I am five properties now I’m lucky if I have somebody for one booking! Now I’m stress-free because I decided to let somebody rent long-term in Seattle
Hey @Boy Boyy 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Airbnb is not the same as it was 2019....most people prefer renting in hotels do to the high fees associated....2 nights shouldnt cost $500 to $1000? A hotel is way less....im from California by the way.
In Ontario Canada a lot of investors are choosing Airbnb because longterm tenant laws are extremely prejudice towards Landlords. Thus making longterm tenants high risk and undesirable.
Hey @The Fency Fellas 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Hey David 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
How so? I bought a bungalow. Turned the basement into a 2 bedroom apartment with kitchen, bathroom and laundry Upstairs 3 bedroom apartment kitchen bathroom and laundry. Upstairs rents for $2350 Basement $1700 Where the crack at?
Hey Carl 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
If you pick a high demand area, Airbnb is a good business model. In a small town with no tourism, Airbnb isnt a good idea Even with High mgmt cost, you still end up making more money than long term rental
Hey @2.0 Lyf Pop 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Airbnb is much more riskier because you never know who you're dealing with that lives very short term like a day or two, theft, vandalism and even assault can happen
Hey @Faith First 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Hey Abo 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Rent an ABNB and change your cellular phone bill to that address that you are renting from. You are now legally a tenant, you get mail at that address you can stay as long as it takes for the property owners to legally evict you. You do not have a legal lease the town never gave the property owner a legal certificate of occupancy. Enjoy😊
Raising prices is a scumbag move. All while we are living in a time with plenty of homeless and people struggling to keep a roof over their heads. But i guess charging and extra 4000 is ok in this evil world.
This is a kindergarten lesson. If you don’t understand the simple fundamentals of business & investing than you should probably just stick with your day job
Air bnb was historically an affordable alternative to staying at a hotel, you’ve successfully destroyed the business model. It is now cheaper to rent adjoining rooms in a full service hotel. Brought to you by greed, making the world a crappier place
Airb&b is great but must provide hospitality = supplies for guests all the time and have a great cleaning crew !! From experience it’s still worth it 👍🏽👍🏽
I've rented through airbnb probably three times.I was ripped off by airbnb twice!!! And, the cancelation criteria seem to be "strict" . Now, I've moved mostly back to hotels
Or just do what my friend does, force his stay at home wife to manage the Airbnb. 😂
Thank you for mentioning the "passive" versus "active" part. I think that a lot of AirBNB hosts think they can run an AirBNB as if they had a long-term tenant. They don't communicate well with their guests and they offer little to no personal attention.
You can get a property manager for your airbnb that will take care of everything but will take a large cut. Like 30%
Where to get them from...😭😭
@@Hwoman1123 not sure, someone had a video of their airbnb and said they hired a manager for 30%
@@ZavHustles wow...
@@Hwoman1123 Reply to my comment if you need anyone now
@@Hwoman1123I’m an Airbnb manager working for 20%
You still have to oversee the long term rental property manager, some are crooks, and/or incompetent.
Nice thing with air bnb is it’ll turn u into a “real estate professional” and on ur taxes that’ll allow u to offset your active w2/1099 income with passive losses (think bonus depreciation) . Your welcome
You nailed it 👏🏻👏🏻
You can explain this for dummies. Eli5?
Upon researching this further, it seems that just being a property manager of your own properties does not qualify you as a real estate professional.
@@colewildenhus7207Yeah no shit 😂
Not welcome. Not quite. You need to satisfy the requirements to qualify as a RE Pro. #1) You must spend 750 hours a year on real estate related work. 2) You must have 7 days avg stay, which is hard if ppl just book mainly weekends or for a night. 3) U must spend over 50% of your time on RE. So if you have a full time job, you won’t qualify with all the tax breaks. Drops mic 🎤
Your content and the amount of value you give is amazing. Thank you. This is perfect for this stage of my life.
I've rented through airbnb probably three
times.I was ripped off by airbnb twice!!! And, the cancelation criteria seem to
be "strict" . Now, I've moved mostly back to hotels
You still pay more going to a hotel. Even though Airbnb prices and fees have skyrocketed, it's no comparison to how much more expensive hotel bedrooms are.
@@aurorarene9909you are 100% wrong. I live in hotels all the time, and they are about the same price as Airbnb. And even cheaper sometimes. Simple calculation will tell you. And I’m typing this from a hotel right now 130$ a night. Way better deal than the Airbnb’s. I also have cleaners and other professional hotel treatment.
For a group, airbnb is better, by self, hotel is way more convenient, more amenities, and a lot of times, cheaper.
@@aurorarene9909
Respectfully disagree with you, Airbnb was a good deal when it first started, it no longer the case in my opinion.
Too many fees added to the actual rental price
And then they have all these rules, got to clean, wash the towels, take out the trash etc. make the bed. I feel like a teenager living with my parents with a list of chores. when you are on vacation it so you can relaxed.
This is my favorite real estate guy
You motivate me by watching your videos.
Buy and hold long term is what I’ve been on. Maybe one day I’ll come around to the idea of Airbnb.
Hey Jorge 👋 I’m thinking about making a video on this. Let me know if that’d be helpful.
P.S. If you have any questions about starting & growing your Airbnb business lmk.
real estate overall sucks imo as an investment. i only do real estate because it diversifies, like gold, crypto, stamps, art, etc. everything can't be portfolio investments. but overall my real estate investments are the least performing and the most headaches and management.
i don't even know why i keep my rental properties at this point. house everything breaks down and coops the special assessments never end.
I’ve done both. Long term is way easier.
Next lesson I want to know : are property managers a scam?
Not a scam, but you need to make sure they align with your interests and goals. Some are dog shit, over charge, barely check up on properties, don’t answer calls, etc. However, if you choose a decent management company or hire internally, you can have a great experience with them.
In terms of need, if you’re working 40-50 hours per week at a normal job and have one or 2 properties (sub 8 units), you probably don’t need one. Similarly, if you’re a full time real estate developer with multiple properties but sub ~24 units, you probably don’t need one. However, if you find all of your time is being taken up by managing properties or your properties are super spread out (an hour + apart), a property manager might be a good fit. It’s important, however, to ensure you don’t lose all profits to a property manager, and that having one allows you to expand your portfolio
As a business goes, even if you hire, you as the owner in the end you are resposible. If things happen and the managers fails to respond or do the job right it falls on the owner.
Yeah, I have a layering of those fees. It’s just ridiculous. Never doing an Airbnb again. Hotels are the way to go.
The stresses outweigh the profits. I prefer midterm rentals.
On point content, may I ask if you use Airbnb analytics tool to choose for best market to do Airbnb?
Love your lessons
🔥 I’m with you on this @Eric ASSARAF! This was a great video!
P.S. If you have any questions about starting & growing your Airbnb business lmk.
I'm going to a airbnb this spring break 😊 I'm whach for cameras in thar
I was just talking with someone last week about this... I have 3 apartments and would like to put them on Airbnb as active, but afterwards I've been thinking that it's better to have them as long-term
Air bnb all day
Those hand movements 😅
How do we get that tee shirt?!
How long did you think to discover these pros and cons???
That's a good idea
Property manager for the airbnb. As passive as it gets! It'll take about 30% off your gross rents but worth it in my opinion.
Yes! I love the gurus telling people to set up systems this and that lol like why? just hand it off to a PM and focus on getting more properties.
They're taking 30% so you're pretty much getting the same amount of money as you would if you had a long-term tenant after expenses
@@Ludeboi420 yeah, but your home isn’t being destroyed by long term tenants.
Hey Beth 👋 I’m thinking about making a video on this. Let me know if that’d be helpful.
P.S. If you have any questions about starting & growing your Airbnb business lmk.
Managing it isn't that big of a problem it's finding someone to clean them I'll clean the first two or 3. Then at some point I like to take a vacation it's hard to take a vacation when they're constantly being rented out of course if I can't find a cleaner when I'm ready to take a vacation that's what I'll ask the Airbnb people to flip it for me and I'll refund them there cleaning fee. That seems to work as they barely get them dirty to begin with.
👍👍
Speaking facts!
I manage my 4-plex myself and have been doing so for 4 years. Im thinking about turning one of the units into an airbnb to try it out. If turns out good I'll turn all 4 to short term rentals
Update us
Where can I learn I wanna start my business
❤
It's not supposed be for long term tenancy, unless the US has different rules.
Talk about evictions here? How much control and information?
Airbnb is dying out way too much hosts! I am five properties now I’m lucky if I have somebody for one booking! Now I’m stress-free because I decided to let somebody rent long-term in Seattle
I didn't hear any cons. This was renting vs AirBnB
I'll take that Bentley flying spur in the background
Typical house $4k longterm rental in Seattle😅 you'd be lucky to get $2k here in Houston. I need to move
That’s because Seattle is more expensive so it will even out
10 years, do you raise the rent every year?
Is it true that Airbnb only allows 90 days per year though?😅
I’m long term
Yeah
but when you have your own house ?
What if i air b n b in a 3 bedroom in Texas in a god city?
We're not getting in touch ?😮
It's mainly all cons
Thanks you for the helpful advice!!!
Hey @Boy Boyy 👋 I’m thinking about making a video on this. Let me know if that’d be helpful.
P.S. If you have any questions about starting & growing your Airbnb business lmk.
Asian Elon Musk
Hmmm long term (and Airbnb til you find a suitable tenant lol)
eWon musk this is Asian Elon musk
never using airbnb its cheaper and easier and better service to use a hotel.
Yep less headache
Sure is...AirBNB was a big deal at pandemic stages...now why pay 500 for a day? Really?
Those days are over bro-especially if you live in NYC
I had to stop the video. Did he just say 4K a month just for long-term rental? Where I'm from it's 400 to $1,000 a month to rent.😮
Airbnb is not the same as it was 2019....most people prefer renting in hotels do to the high fees associated....2 nights shouldnt cost $500 to $1000? A hotel is way less....im from California by the way.
Sorry, what were the cons...? 😅🎉
In Ontario Canada a lot of investors are choosing Airbnb because longterm tenant laws are extremely prejudice towards Landlords.
Thus making longterm tenants high risk and undesirable.
Hey @The Fency Fellas 👋 I’m thinking about making a video on this. Let me know if that’d be helpful.
P.S. If you have any questions about starting & growing your Airbnb business lmk.
Remove your Airbnb bad review within 24 hours, let me know if interested.
Goodness. Every time I click onto his channel. I think it’s rich dad poor dad. Then I see his Vietnamese name to remind me it’s not
Shouldn’t Airbnb be more of a wow factor when renting them out? To get the money and customers right
Hey David 👋 I’m thinking about making a video on this. Let me know if that’d be helpful.
P.S. If you have any questions about starting & growing your Airbnb business lmk.
4k a month yall smoking Crack
Big crack rocks
How so?
I bought a bungalow. Turned the basement into a 2 bedroom apartment with kitchen, bathroom and laundry
Upstairs 3 bedroom apartment kitchen bathroom and laundry.
Upstairs rents for $2350
Basement $1700
Where the crack at?
That’s literally $133 a night on average for a 30 day month, which is cheaper than a hotel stay.
Hey Carl 👋 I’m thinking about making a video on this. Let me know if that’d be helpful.
P.S. If you have any questions about starting & growing your Airbnb business lmk.
@@thefencyfellas8411 😂😂😂😂😂😂😅
Property management is a scam. Nobody is going to manager your property better then you doing it yourself.
I doubt you live next door to an airbnb and know what it’s like, selfish greed
Hi , I live in Washington, I m looking for a house to do air bnb
Can you help me
Who the fuck would pay 4 k in Seattle
I don't hear about Vacancy and high Management cost for Air-bnb.
Maan, y'all got to stop this!
If you pick a high demand area, Airbnb is a good business model. In a small town with no tourism, Airbnb isnt a good idea
Even with High mgmt cost, you still end up making more money than long term rental
How much cut does the property manager get on your terms or average? That’s a factor you should weigh in too.
10%
Hey @2.0 Lyf Pop 👋 I’m thinking about making a video on this. Let me know if that’d be helpful.
P.S. If you have any questions about starting & growing your Airbnb business lmk.
Airbnb is much more riskier because you never know who you're dealing with that lives very short term like a day or two, theft, vandalism and even assault can happen
You have a negative mindset
Agree
Risky but this issue is rare. However you must cater to those things in your pricing. Stay positive.
There is also a pro of ruining a city if that is your thing
Bro nah it hassecret ams
Con: you force local people out of there neighborhoods
I Love The Shirt How Can I Purchase One?
Hey @Faith First 👋 I’m thinking about making a video on this. Let me know if that’d be helpful.
P.S. If you have any questions about starting & growing your Airbnb business lmk.
@@ivantejeda thanks man will do I appreciate it.
How can one get a MENTORSHIP with you? 🙏
Hey Abo 👋 I’m thinking about making a video on this. Let me know if that’d be helpful.
P.S. If you have any questions about starting & growing your Airbnb business lmk.
Rent an ABNB and change your cellular phone bill to that address that you are renting from. You are now legally a tenant, you get mail at that address you can stay as long as it takes for the property owners to legally evict you. You do not have a legal lease the town never gave the property owner a legal certificate of occupancy. Enjoy😊
So cool
Your hand movements are confusing me
Raising prices is a scumbag move. All while we are living in a time with plenty of homeless and people struggling to keep a roof over their heads. But i guess charging and extra 4000 is ok in this evil world.
This is a kindergarten lesson. If you don’t understand the simple fundamentals of business & investing than you should probably just stick with your day job
Enjoy the Airbnb crash 😅
Air bnb was historically an affordable alternative to staying at a hotel, you’ve successfully destroyed the business model. It is now cheaper to rent adjoining rooms in a full service hotel. Brought to you by greed, making the world a crappier place
😅 like the mofo will stay rented every day😅
8K a month??? 266 dollars a day, Where do I sell my soul?
I learned nothing new from this.
Great content, but stop mumbling! You slur your words, talk too fast! Enunciate! A translator would die trying to figure out your sentences.
LQR $5 $10 😉💎🔥🔥🔥🚀🚀🚀
Airb&b is great but must provide hospitality = supplies for guests all the time and have a great cleaning crew !! From experience it’s still worth it 👍🏽👍🏽
I've rented through airbnb probably three
times.I was ripped off by airbnb twice!!! And, the cancelation criteria seem to
be "strict" . Now, I've moved mostly back to hotels
Reply to this comment if you are interested in earning from Airbnb as a beginner