EP 5 - The Finale

to make money in real estate sometimes you need to think outside the box we'll show a handful of beginners how to profit with short-term rentals using properties they don't own this one could bring in three or four thousand dollars a month they will need to prove they have what it takes to become a house hacker based on my success with airbnb and with using other people's properties i'm going to teach you the five l's to be able to use properties you don't own to start making money today and these five l's are locate lease make livable list and leverage in previous episodes brian taught us the first three steps of his process which are to locate lease and make livable each property in this episode we learned step four which is to list the properties on airbnb step number four in my five-step formula is to list the property listing is defined as putting the property on the home sharing site and making it available to book now there are two main things that you need to excel at when you list a property number one is how you describe the property in the titles and descriptions on the site the number two and the most important thing is the photos that you use to sell the property kyler and karine are still working to complete step four which is to list their properties in the meantime we join brian and his photographer and take an in-depth look at how vital great photos are to house hacking all right so i'm here with kelsey from blue pelican photography welcome thank you glad you come out thanks for having me thank you i wanted to talk to you about what you do because you photographed my various b b properties and you've made them look amazing and so i want to talk about how that works so what are some of the things that that we should look for when we hire a photographer i think the first thing i'm really important is check their work see if they have a portfolio i think that that's just by seeing what what they're already shooting is a pretty good teller of whether they're going to be a good photographer for you or not okay but then ask them about their equipment one of the things what if i don't know anything about equipment um okay so just kind of put in simple terms make sure they're not shooting on a cell phone of course you can't get the wide angle and there's there's a couple of different things to think about so you want them to have a wide lens but not fisheye you don't want your photos to look all warped and funny but the difference in equipment is a wide angle lens is able to capture more than two walls of the room okay without making it look too uh fishbowly really for lack of a better way of putting it okay so yeah just ask them if they have the equipment to capture a wide view of the room without it looking distorted yeah let's talk about cost so depending on where you are in the country the cost can vary wildly how do people uh charge generally how do photographers charge for their work when they're doing real estate photography where we are prices range between 100 to like 350. okay and we again we charge based on square footage so that's a really good kind of tell if you have somebody that wants to charge you the same amount for 800 square feet versus 4 000 square feet so in that range i would say that the average b and b are that that's equivalent to like one extra night on the calendar maybe two extra nights on the calendar so there's absolutely no excuse if you think that those photos are going to get you one or two more nights booked in a year it's more than worth it and they will yeah because i've seen my photos compared to the competition there's just no there's no contest whatsoever i mean people go right to them as soon as you can see something that is bright and doesn't look creepy sometimes you look in a room that's not lit well or the photographer doesn't know what they're doing and it just looks kind of scary all right so i think we should go ahead and uh get some photos done what do you say sounds good all right and here what do you think would be the first shot you'd want to do i want to get the whole room so i'd probably go to one of the corners that way i can get the tv so you can see the door but then also the couch so you know you're in the living room absolutely we want to get all that in this beautiful uh shiplap wall here but the question is do i turn this tv on what do i do here leave it off off leave it off i mean if it's on all it's going to do is throw a weird color okay and it's not going to pick up that wall and personally it's boring to just have a black tv there are we going to well it will if i leave it that way but again ask your photographer because you can put anything on the tv okay so you can put an image on this after the fact absolutely yeah oh great okay so i can pick any kind of image i want pretty much yeah okay great all right we'll put a nice image on this tv right now yeah that's something of the local would probably be a good idea okay great in the kitchen here what kind of angle would you suggest where would you start generally speaking i go from corners because i want to show more than just one square piece of a room so i'd start right over here actually this corner okay yeah and depending on the size of the room i would set up either sometimes against the wall okay um sometimes i could be right here and on a tripod um but that way i can get into the other room and the rest of the kitchen so you think we're gonna be able to get this whole thing like all the way from that room to here okay that's the beauty of not a cell phone all right i love it great yeah so yeah i set up so you can see again more than two walls that's usually my goal and the advantage of having the two rooms in the one shot is it tells people the orientation from room to room where if you don't have that kind of shot they don't know where is the kitchen in relation to the living room whereas the thing that i've noticed with your photography is i can see myself walking through the property but based on the way you photographed it it gives them a sense of context so that they can look and kind of again walk a lot more depth because you're seeing from one side of the house all the way to the other exactly so you know it has your rent yeah right i know photographing a washer dryer is kind of boring but i want to show that this property has it so how do i do a shot like this this is so tight what i would do if i were shooting this is i'd go to a corner and set up so i can get the washer and dryer but also again more contacts so i can see the room that's behind it the only way you can do that is with a wide lens all right bedrooms are extremely important when it comes to photographing them correctly so do you have any tips what do you do with veterans yeah for sure so um you're again the photographer if you hire a professional should know this but what i like to try to do is and it depends on the size of the room but shoot from corners and i want to shoot facing the bed not necessarily across the top of the bed that makes sense or sideways yeah yeah i just want to see the shape of the furniture and not get weird and distorted with the wide i want to see windows too so if there are windows in the room i'm going to show those over maybe the door because everybody figures there's a door coming into the room yeah but that way you can see what you're sleeping in you can see the furniture and the features of the room one of the things i like to do is get detailed shots so not just shots of every single room kind of laying out the way the properties laid out but also the actual details of what's in the listing so how do you do that and what do you suggest we take photos of yeah for sure so usually what i do is i walk into the property and see what catches my eye first so here this table staged really nicely and i love the square plates so i got close and got a perspective shot so again we can see the plate the place setting but also kind of what's behind it that way you're not just looking square at a plate um again trust your photographer if they know what they're doing they'll know how to make it so that that's in focus and the rest of the room just kind of falls off yeah but perspective is important and it's going to add a lot right rather than just having a whole string of photos that's like room room room room this is the more details that are going to go into it it puts the people looking at the photos kind of into the place so they they see this setting they think sitting at the table eating or they think preparing a dinner for their guests or you know whatever they're coming for so i think it's really important can you make this pinterest worthy sure thing all right perfect step number four in my five-step formula is to list the property when you go to create descriptions that are going to catch people's attention and make them want to book your property you don't want to stick to the facts a lot of people when they write a description for their short-term rental they will just simply state the facts three-bedroom two-bath house five miles from town that's a horrible way to describe a property what you want to do is you want to paint a picture the same way that we did it when we staged the property for example one of the descriptions i have in one of my listings is welcome to your own private hideaway a lovingly renovated three-bedroom cottage that's turned into your peaceful home away from home so the idea here is that you're making your guests feel like they're on vacation rather than just simply renting a place hotels are out and bnbs are in and hosts are earning more now than ever before learn how you can work directly with brian and his team by clicking the link below or visit us at freebnbcall.com [Music] let's see where some of the contestants are kyler is ready to list his property which is step four of brian's process he is doing so by writing the descriptions and having the property photographed karine has gone over budget and is still on step three make livable so i'm often asked how do i know what to charge on the property how do i know if what i'm going to charge is actually going to cover the expenses the rent and the utilities so i'm going to share with you something very simple it's called the rule of eight now eight is simply referring to the number of weekend days in a month generally you have four fridays and four saturdays in every single month now why are weekends important because on airbnb they always book you're not guaranteed that every weekday will but on the weekends you know those are going to be your most valuable days so if you can calculate in advance what it's going to take to cover your rent on those eight days you know that everything after that's going to be gravy so as an example if we take a twelve hundred dollar a month rental and we divide by eight that's one hundred and fifty dollars a night so when you list that on the site and you charge 150 per night on fridays and saturdays you know that as soon as your weekends are booked you just pay the entire rent on the property now granted you may have some expenses for utilities but that's going to be paid in another couple days that you book for example couple weekdays now even if you're charging less than 150 on the weekdays let's say it's a hundred per night well a couple hundred of those are going to go to pay for the utilities and everything after that is going to be money in your pocket so in this example if we book 10 days in a month not weekends 10 weekdays times 100 that's a thousand dollars in our pocket so i want you to remember the rule of eight the rule of eight is taking the rent on a property and dividing it by eight we come up with that number and we know what we're going to charge on the weekend as the minimum to cover our rental expense [Music] brian has now taught us the first four steps of his five-step process which are to locate lease make lovable and list properties in this episode we learned the fifth and final step of the strategy which is to apply leverage also in this episode we will see who brian names as his new business partner and step number five in my five-step b b formula process is leverage i define leverage as using other people and the services they offer as a way to remove myself from the day-to-day operations you cannot scale a b b business if you're doing it all yourself and in fact i would tell you to do almost nothing the main areas i want you to leverage are number one cleaning i don't want you making beds i don't want you cleaning properties i want you to leave that to the professionals cleaning does not have to be expensive and it takes a lot of your time so the first thing that we're going to do is find a service that will clean our bnbs for us number two a handyman we're gonna need somebody who's on call and ready to go if something were to go wrong if something breaks or something needs to be fixed for a guest you don't need to be the one doing that make sure your handyman is super communicative and is ready to go on a moment's notice and the third and most important way to leverage is to use your virtual front desk your virtual front desk is your version of a front desk that you would see at a hotel as you start getting a bunch of b and b's you are going to be running essentially your own hotel but the difference is your rooms are going to be all over town so i don't want you to be the front desk manager i want you to hire that out now this person is not only going to take care of the guest requests as in i need more towels they're also going to communicate with your guests every time a question comes up so once you're able to leverage these teams you can remove yourself from the operations of your own bnb the last time we saw kareem she was stuck on step three make livable with the property she leased while kyler was further along on step four list with his property let's see where they are now and who brian will name as the ultimate house hacker and winner of the competition welcome back everybody we are back where we started it's been quite a journey we've had a lot of adventures a lot of ups and downs over the last few weeks and it's been a really really fun journey to be on with all of you now before i announce who the winner is of this entire thing and announce my new business partner i want to go ahead and hear from each of you i want to find out what is the one big thing that you learned about yourself or that you learned through this process and i'd like to start with marcus outstanding well i really learned to just keep going you know just keep dialing just keep asking you can't stop because you know you could be one person away from having that deal so very good now let's go to maria well i have gained so much confidence in this journey it hasn't been outstanding and very eye-opening and just uh thinking outside the box is really what i'm all about now so thanks absolutely corrine well i've learned that uh we really do help the homeowners and i've learned that when you get rolling and you've got a deal you need to really stay structured take good notes and when you're thinking of what you're doing get it done don't procrastinate because it goes really fast it doesn't stay targeted so very good and kyler yeah one of the biggest takeaways that i am bringing back from this is the importance of professional photos on the listings and how it can actually make it pop way above all the other people in the area so that was one of my big points very very critical right yep that's great the great thing about being entrepreneurs is that we're all very very unique we all bring certain strengths and weaknesses and challenges to the table and i just wanted to say that i saw each of you have your own unique strengths and i want to just acknowledge those really quickly so first of all marcus you are a master negotiator when you get in front of an owner you know how to close the deal and that's going to serve you very well in the years to come especially in this business maria you have the best attitude of anybody i've ever seen you're so positive and you're so driven to do this business that i think that's going to serve you for a very very long time so i love your attitude awesome thank you karine you are relentless in a good way you're relentless you got your first deal you got it right here and you did not give up you went after it and you made it happen and so i think that's a very very good quality and kyler you are unbelievable when it comes to staging and putting a place together you did an unbelievable job with my property and the way that you make a place livable make it ready for guests put the right amenities in place is really going to be critical to getting the most money you can out of each and every airbnb and so that's one thing i really appreciate about you thank you so each of you have these different strengths which is awesome but there was one of you that stood out among all the others one person that i thought was somebody that i wanted to do business with on a long term basis somebody that i wanted to partner with and that i consider to be the top be in beer and that person is kyler wow kyler congratulations thank you so much yes i appreciate it not only did kyler win the staging and got to stage my property started with the living room that i eventually gave him the entire place to go ahead and furnish he did it on his own he did it with my money using my money and did an amazing job he understands marketing he understands how to photograph a property he understands all the elements that are necessary to get heads and beds which is the entire name of the game and so what i want to do as my new business partner is i want to first of all give you the property that you staged it's yours i'm going to cover all expenses everything that you need to get that place ready you can go ahead and list it as soon as it's ready on airbnb or one of the sites and we'll split all the revenue 50 50. how does that sound sounds awesome i really appreciate it absolutely congratulations thank you and in the upcoming weeks and upcoming months kyle and i will probably do additional deals together we'll be looking at some other opportunities other properties in other parts of the country and we'll see where this goes cool so i want to thank you kyler and i want to thank all of you for being a part of this go ahead and give yourself a round of applause even though karine didn't win the partnership with brian she is proof the strategy works and was the first contestant to get a reservation on airbnb hey everybody it's corrine here and i'm just so pumped um i went live yesterday and i got my first reservation today a 12-day reservation and guess what it's paid my rent instantly a payout we've got john coming here for uh 12 days excuse me with three guests i've learned that when you're doing this process get as much done ahead of time as you can and you can actually have your airbnb ready to go within two weeks time if you're working it pretty pretty hard and diligently so all now it's been a good busy experience i finally finally feel like i've gotten to the point where i can say good job you're there it's time to rejoice it's time to celebrate so [Music] i hope you enjoyed this show we saw kareem get her very first listing we saw the competitors going against each other to see who could win and more importantly we saw kyler win the overall competition that brings me to you maybe you want to try this maybe you want to start your own home sharing business maybe you want to learn how to househack where you live well if that's you and you want to work with our team we can help you we can actually help you one-on-one to be able to start getting results and getting properties in your own area where you live you want to learn how to do that look somewhere around this video you'll see either in the description or you'll see a button you can click and talk to our team we'll walk you through step by step a game plan to help you start making money on airbnb using the house hacking method i'm bryan page thank you for watching the show and i hope to see you again very soon according to the world's leading airbnb data company this summer will be the best on record for the short-term rental industry as pent-up demand accelerates and bookings grow around the world don't miss your opportunity to cash in and launch your own profitable bnb business to learn more click the link below this video or visit [Music] freebnbcall.com you

Channel: Brian Page

Views: 14,626

Rating: 5 out of 5

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Id: cF45zrAK6M8

Length: 19min 41sec (1181 seconds)

Published: Tue Jun 01 2021