Ernest was going on we got something very exciting to announce yes UIL University is the fastest growing online Business School in the world global we have 70 archived classes we have weekly webinars where it's an interactive experience you get to ask the professor's question as he's actually presenting it's all done over zone and it also includes our private real estate Facebook group it also includes access to our movie club access to our book club and real estate break bread' session bi-weekly with mg2 mortgage guy when he discusses a broad range of real estate topics yeah you getting all of that so don't wait don't hesitate don't play yourself reward yourself invest in your education invest in yourself head over to eyl University yeah so we are running a special promotion right now for 40% off of the annual discount all you have to do is go to UIL University calm into the cold social and you will get 40% among check out see you soon please [Applause] alright guys welcome back he yl hotel heroes Edition ATL shout that a is shout out to the great city of Atlanta it's like a second home fun you know we love Atlanta so today's gonna be a very exciting very educational episode that I'm actually very interested to learn about the admits a lot because a lot of people are trying to get in this game and they have no idea all the things that go into it man so you always access like different topics yeah and one of the biggest topics had for a while has been Airbnb and it was it a lot if you travel you likely had state have stayed in the Airbnb right and a lot of people they want to know like how do you get money like how does the business work it's one of those things like all things that we cover there's really no college to learn about this kind of stuff you just kind of got to learn on the fly or make a bunch of mistakes so when we was coming to Atlanta I reached out to the good brother Alex good energy Alex prestigious alone prestigious one of our alumni and I you know Alex is the man out in Atlanta so I'm like you know I won't do episode of Airbnb and he's like I say no more this woman do i'ma put it on my Instagram and I'm gonna see what kinda feel for ya so well he put it and a lot of people hit him up about our guest today Lexi right and reached out to her and it was a quick turnaround she's like yeah I'll do it and here we are so Lexi is young she's 23 years old recent graduate from Georgia State University right and but she's making a killing in the Airbnb game right now she has currently has 22 units that she has under management and she's scaled very very quickly I'm a short period of time and she said on Instagram with like three thousand so like almost like 30,000 a month for Airbnb profits so Joe we are we reached out to and um she's gonna give us a lot of gain so first and foremost thank you for for joining us appreciate it welcome welcome welcome yeah so alright so how did you get into the Airbnb game like what makes you because I know you used to work corporate right yeah so what made you say okay I want to be an entrepreneur and a lot of people want to get into real estate but what made you want to go to Airbnb route so when you talk about real estate there's a lot of different avenues to the real estate industry so when I look at the real estate how a lot of people do it which is longtime leasing and then you look at your B&B which is short term leasing and you compare the two it's always better to do the short term leasing so like I tell you guys if I have a property and I put a tenant in it a long-term tenant I might charge that tenant only a thousand or 1,100 a month versus I could do that same house for a short time leasing and make that 1,100 in three or four days just off being on your B&B so I knew that Airbnb was it if I can do short time leasing versus long term leasing and make the same amount of profits within three or four days I can skill my business see I'm saying yeah so I knew that the Airbnb was it so what like what was your first Airbnb like how did you how did you initiate initiate getting into the game so I moved out of my last place and when I moved out of my last place I was working with his realtor and she had moved out so we lived in the same building and when she moved out I still kept seeing her in the building sounds like what are you doing here and she told me just like I put my unit up for Airbnb so when I was ready to move out when she told me she said it's paying my rent and it's rent sounds like well ain't gonna let mine go when it's time for me to go and I didn't and that's what happened to my chili was paying its bills and my bills at my new place so then I was like well I might as well go get more I was already in the real estate industry we're both in real estate so what you do it was just an industry you say it's already in real estate like and web capacity so buying and holding ok fix and flips ok so you I mean you're 23 right so where's this business acumen coming from is it something that was passed down from like family members is just like you know what something along the way during your experience said this is the route after though I don't know honestly I've always told my parents I don't want to work for nobody and I work for chick I work for the same job for six years since I was 14 I work for chick-fil-a and I just used to say like this is not for me and I even started my started a lingerie in high school I was 16 my parents are like you know I'm thinking like if my daughter tells me at 16 we have a problem [Laughter] pochamma we're okay so at that point of time I was like I just I just can't keep working for nobody I was like I have to get out of this my mom worked for the same company for 15 years my dad same thing so I was like who's gonna break in there honestly my stepfather is the only entrepreneur in our family and he came along later on down the line so somebody had to break gate it was you it was me chosen child yeah I was just I was just we just had that conversation last night as far as like come from a working-class environments working-class families and working-class communities with like you know that the goal a lot of times is to get a good job right you know I'm saying like a good yeah like quote unquote was considered a good job but it's like that's really a race to nowhere not sit not a job but it's like ultimately your one paycheck away from poverty right right you're working you're working for 30 years you don't really have enough to retire and it's like you see that with parents grandparents and it's like like you said it's like da choppah Norma is not something that was always toy like now it is yeah but before it wasn't something that was always like a sexy thing to do but it's important it's important so let me ask you this all right so the Airbnb right because we're going to talk about the Airbnb in detail and it's interesting I didn't even know that you can actually Airbnb an apartment or home and not actually own it like I thought you had to like be the owner of the property and then could it's like I don't know you can actually do that so before anything right can you explain the differences between okay the different types of Airbnb is like as far as owner-occupied and renting and like how those work yeah is it like a subleasing type situation so are you saying the difference between so like like yeah like if I owned this house as opposed to somebody else owns the house and then I'm coming in and I'm renting it okay this house for example so you own this house so like I said there's a few ways that you can go through Airbnb when it comes to knowing how to do the lease so the owner could say hey I have this house and it might be up for 12 the same thing with short-term or long-term leasing it might be up for 1,200 a month then I might come in I might see that same property on the MLS or something the MLS is the real estate site where people don't look for houses so I might say hey I want to use this property for Airbnb and explain to you the difference between short term and long term leasing and this is considered master leasing so I'm gonna come to you and I'm gonna say hey I have I'll have my master leasing contract case play master leasing leasing is like saying I have five properties already or just say I had one or say I had two and I'm gonna continue to keep adding so it's like master leasing these different places that's how that's how massive leasing work so I'm gonna come to you as the owner I'm gonna say hey I have these two other properties this is what I make up these properties I don't have any issues with parties I don't have any issues with that guess I do major screening beep screening so what do you think okay and that's that's the approach when it comes to math listen of course it gets deeper when you talk about contracts because there's different kind of master leasing contractors you can use but generally speaking that's just what it is hey this is my portfolio what do you think so just from a numbers standpoint let's hypothetically say that I'm paying a thousand dollars rent Yeah right I can list that property that I'm renting for two thousand dollars or you know me and I had it how does that work for a number standpoint okay so so no so when it come you have to specify the difference between short term and long term leasing okay so like I said if you were the owner of the unit of this property and you had this unit up for a thousand dollars a month for a long term limit a tenant meaning hey this thing is gonna pay a thousand dollars for a 12-month lease versus Airbnb I can say hey I'm gonna put this up on their short term rental platform and I can literally do this thousand dollars within a week so what you're making a long time we think I'm doing in a week I'm a prophet if dad's the case right I'm doing that a thousand hours a week I probably 3,000 hours a year okay so but but all right that makes sense but it's always like okay if I if I want to just rent a home right yeah usually I just get a tenant I want to charge them a thousand dollars a month they sign a one-year lease with me and they obligated to pay me a thousand dollars a month right I get that sees everybody understands that but now it's like you're coming and you're saying wait don't do that I'm gonna come as an Airbnb host no so what I'm saying is I'm gonna do the same thing that you just said except I'm gonna put it up for your man B so now will you talk about massive leasing is it becomes a point where you have to paint a play so I might you might have visited at $4,000 but I might need to convince you that I want to put it up on a short term it's a platform somebody said hey let me give you 1,400 a month okay see I'm saying okay now I'm gonna go put it up on the platform let me give you 1,400 a month your deposit might be half the rent so your deposit might be 500 okay bit let me give you an 800 dollar deposit all right so we got that part but let's go back just for a second how do I even become an errand BB host is it that's where a lot of people gay they don't really know it's really just going on the website and become a ghost that's it create a username password profile your host and your own you without any problem probably holes right now okay it doesn't have to be a home it could be a room it could be a room in this house yes we saw that story on an episode of how MVP was founded it was yeah so all right so--okay so if I have okay so you come to me you say okay I'm not gonna give you $1,000 I'm off I'm a sauna a year lease for 1400 right which is okay now I'm getting fifty forty percent more than what I would have gone but now you're in control of you can make as much money as you want from the Airbnb mm-hmm get it so now you have to pay that for $300 a month no matter what exactly so our owners open to that because it's like now it's one thing to have one person living is your place but now you got muscle 10 people involved maybe like what's the so yeah you have to understand about that that's with any business everybody's not gonna tell you yes I haven't been told yes all the time you run into those right people those right people will tell you yes that's how I feel about it there are different people but like I said when it comes to even with my apartment with my apartment buildings I still do screaming so you need to have your email address on your profile you need to have your profile picture you need to have your phone number you need to have your government ID upload it everything needs to be on there before you book my place you won't be able to book unless you have all four of those credentials so then when you talk about different people coming in and out it becomes a it's a risk anyway right it's a risk with the long term to me true so the long term turn it usually when you rent you have to get some type of insurance is it the same for Airbnb if I do it that way so you have to have insurance you don't vanish you don't that insurance um right no insurance are written but if I have a place I have to have insurance right no you don't and you got the but the deposit so it's just like writing a regular apartment just a beep a little bit named butch it so you're just sup leasing it yeah because you're gonna make triple if you think about it so it's really like total win-win for everybody because you're gonna pay you're gonna pay to own you always have to pay to own of more anyway you don't have to because you have some owners that will be like okay a thousand is fine you people don't understand the real estate industry the market is so it's saturated but it's not so then you run into those owners that are like look I just want to get this property I just want to make income off of it because then there comes a point of time where some some landlords are not even making money so like this house they probably just throw it up for Airbnb because they probably wasn't making anything off of it and I can honestly tell that by the furniture that's in it Skelly it's like dang this this house probably not I couldn't find a long-term tenant it's probably the area it could be the house it could be the design their structure it could be anything so that's why was my action as far as alright so as far as a regular person off the sheet it just wants to get involved in Airbnb right how do you know because it's like you saw in a one-year lease but you're not planning on living there it's a risk if you can't so like how do you know like this is something that I'm deathly gonna be able to get off on Airbnb like is it the area is it the location that's what like what's the most important are you saying make it just even make it right like I guess like the determinant factors to say like I mean so let's talk about houses the area is really the most essential thing where's the grocery store where's the nearest mall where is the airport where is the news movie theater where the amenities where's the leisure activity there are some houses that are off like appraises the south side of Atlanta there's houses us off but they probably get booked maybe every weekend and then with houses you also have to understand the seasons yeah people aren't families aren't traveling all throughout the year you get holiday season families are traveling that's it yeah down season versus apartments like with my units those corporate guys are always traveling but they have to work regardless they're not coming to stay in a five-bedroom house they're not coming to stay here you guys are working how many podcasts literally come through where it's for people when they need a 3-bedroom 2bath you see don't we see what I'm saying so true then you can as a regular person coming off the street to answer your question I suggest starting off with apartments because it's easier it's cheaper you furnishing it's not as much as furniture in the house yeah I was just thinking in my head like you do both fry you own some properties and you rent exact from which temple and you're saying now like renting the property is easier is less risk yeah I mean when it comes to buying if you if you already don't have a property under a mortgage I don't suggest going to get a mortgage to put a property up for your B&B because think about it if you have a $200,000 mortgage how long it'll take you to make you money baby it's gonna be a minute if you already have a property anyway maybe I'm moving out of town or maybe I'm moving on the other side of town but I wanna let my house go maybe you want to switch that property after the year lease is up yeah or maybe one you you got a bunch of different options there so you get those people that are like hey I just want to do something with this house it doesn't take you don't really know we need to find a long time Chinni then you get a wait list with long term tenants people don't pass background checks people don't make the deposit income got income it's all kind of stuff that comes with finding a long time that people don't realize so you would suggest okay if somebody was looking against an Airbnb it makes more sense to do it the subleasing rot as opposed to like buying a place just for the purpose of air being right it's gonna take you a lot longer to get the money yeah makes sense makes anybody do it that way you've never seen a bite by something I've never seen somebody go buy something to go put over your Mimi yeah even the huge corporations that are here that short time leasing their subleasing so there's corporations that do what you do pretty much they have them up on all the platforms there's other platforms too bizarre Airbnb there's home away there's VRBO there's booking.com TripAdvisor all those too so those corporations they're coming in then I but they're not getting one property again maybe six to twelve properties at a time yeah okay so like what's the what's the profit margins like if you alright let's say a house cost a thousand dollars how much can a person realistically make in a month like is it three times like what like what's the goal actually that's a better question what's the goal like you could say okay I'm gonna pay a thousand but I want to get no less than three thousand like is it something like that so let me tell you something about the business and I'm gonna I'm gonna look at the camera and say this it's not a business that you get into angry start profiting 30 grand just because you got five units that's not how it works the platform is for you to progress so I started with my first month and I might have made fifteen hundred dollars my second month I might have made three thousand my thirty month I might have made four thousand my fifth month I might've did a tinkering so it's a business that where you can grow into some people they look at my page and they look at my business you're like oh that's what I want to do oh she's doing this oh she's doing that and they don't know what it took for me to get there so I didn't start off making thirty or forty grand a month that's not how you're on your leisure yes you have to use and then the thing about your B&B you become there's a status group that you become it's called a super ho status the super house status puts you up in the algorithm so when I say algorithm I mean say you're going out of town and you're searching on booking como Airbnb you might see 30 pages going through the 30th page know by me thank you they're also terry has algorithm to reach to the top that's the biggest thing on your baby is to be an algorithm how do you get there you there's a lot of different things just what's listing the property it's hard to say do this do that honestly when it comes to the algorithm there's just different things you have to know as a host that needs to be done or needs to be listed properly on your unit on your listing ok so when it comes to the algorithm itself you have the super host that is super hosts are already up in the algorithm then what's the super host the super house it's a 90 day assessment so once you get you have to maintain it you don't get it and then keep it you have to keep maintaining it every quarter so they do it every every 90 days there's a super health assessment so you have to have you only have one cancellation every 365 days okay literally you're on pins and needles for a year or you lose it so you monkeys super host added a few kids so I mean that's really out of here so like you said the leaks maintenance maybe housekeeping didn't show up those kind of things complaints complaints in regards to like if somebody complains about your Airbnb know if they if they ever occupy your unit you won't count okay yeah so once they open the door yeah okay now you got you up but you said that um you went from a three thousand to six down to 10,000 yeah and you talked to us off camera about having that mindset of skill and business yes what are some things that help scale right because you walked in here today you're like well yeah okay I look your vision was a lot different from when we walked in right so when it comes to scaling you have to have automated systems in place okay that is it systems so like what kind of automate housekeeping automated system so and I'm gonna be completely transparent housekeeping was the biggest downfall of my business 2019 I hate it housekeeping so housekeeping is the most important is the most essential thing to the Airbnb business why was it the worst isn't like you actually going in and don't know it was the volume that I was having in having to have a housekeeper keep up with my volume so I was running through my turnover break for housekeepers were like it was crazy like I was looking for a new housekeeper every week so sometimes I might have six checkouts and then what you have to understand is checkout is at 11:00 check-in is at 3:00 so it might take the housekeeper because you got to do anything you gotta wash linen and get the dry so it normally takes time minimum two hours so now between 11:00 and 3:00 I got six properties that need to be cleaned three of those might got another check-in coming in so what if I only have one housekeeper who's gonna clean those other two properties that has another checking and those those three that didn't have a check-in I might gonna get those tomorrow but then that's a risk because what if somebody wants a book that night so what do you do do you find more than one or you find a company of housekeepers what you build so now I've come to the point at first I was using housekeepers from different companies or I would just post on my disagree I'm like hey I need a housekeeper but then what I had to realize hey I'm writing a hospitality company is not just a sweep of a broom or a wiping off the counters are cleaning a toilet it's different you have to station in it how it's a tissue fool are the is the shampoo the conditioner and soap out is the paper towels annoying like housekeepers they would do something like leave a quarter of a roll tissue in the bathroom make sure coffee creamer out make sure you have washcloths yeah yeah some people don't believe in washcloths I noticed when you go to ambi you never you know the only speakers know who's you know who's always the Airbnb they don't have watch but it's a fact it's it's strange yeah so my question now is right so when you when you hire a company of cleaners right if you keep using them does it help now with the cost so you now make a deal to say you know what we've been using you oh we've got so many properties now can you cut the clothes a little bit so now what talk about automated systems when I say the mistakes that I made now I've come to the point where I needed my own housekeeping company you create your own yes my own housekeeping the thing that I was trying to do was support somebody else's business that was my thing because I already had the Airbnb business going something like let me just find maybe you know somebody that could clean for me but then it became a point I'm like oh no this is not working because they don't take my business as serious as I do so now I need to find somebody to put on my own payroll okay for housekeeping and that's that's how I started to automated systems now you only work for me now I don't have to worry about you saying oh I got to go clean this property over here on the south side or oh I got a I got another job no you don't real boss so you have an in-house cleaning service yep don't and I just did that within two three months how many cleaners do you have only three but it's enough right now so any only only work for your property properties that's dull she's 23 yards like it's like you got it from a convenience level yeah and you got to spend that money anyway yeah so like you said why not spend it with us on your watch as opposed to somebody else's watch and now you cut out the nonsense when you talk about costs normally so like normally housekeepers charge like 70 or $80 for is so just say you wanted your own apartment clean they might charge you $80 for one day everyone bad I'm not paying that if you clean 10 of my units in one day so now hey listen what about 55 so now I only pay 50 45 to 55 depending on a cleaner for each unit which is not bad because I charge my guests 90 mm-hm so that the cleaning service is put inside of the reservation exactly so you guys made a cleaning fee yeah yeah yeah so so you get paid on that you get paid on it on the back end yes I get to clean a fee I just thought about to get somebody up front and on the back we got we got the cleaning service right what are some other automated systems that we have in place because I'm looking into cleaning that's a checklist what else we got to do so check-ins having a lockbox so you guys had a code on the door mm-hmm that doesn't work everywhere remind you but it is automated system because I don't have to then go meet the guests because I do have some units where my sister has to go actually meet them to check in yeah we had a situation with a lockbox and no I almost got killed 20 almost got killed Thanks yeah now we are they we went to LA and we did an Airbnb you know we got in late like 12 to in the morning yeah like kind of lockbox was in the middle of it now was it out in LA and we're sitting there shot he's trying to get the lockbox open you can't get it open so like we're pulled into an alley lights on we see people down that alley and I'm like damn all right we left the alley came back on my maybe that's not the right one we came so he came back circle back to the same alley he's back at the box now I see two people at the end of the alley a my shotty somebody coming this way bro and he's like yeah I'll just keep an eye on them I'm like I his Baxter now they walk into me and they walk up to me just do flashes of gun and I'm like Ali this dude's Baptist turn he's trying to unlock the body now pull the burnout on as fast as he acts don't watch said he was bringing in anyway he's like you know that gang banging we're just doing a financial it was crazy because that gets back with her hey like yo what set you claim it on my yo bro we just we just he said I and walk dog and like 10 seconds later psychic like yo what do you want never do that was dangerous that was bad yes where you couldn't put a lockbox on the door coming in at two o'clock in the morning there's no way I could check out in yeah that was crazy it was a crazy moment but la was good yeah luckily we made it out but yeah so subject having stopped checking units or just checking cops here to Peoria is another automated system what's another automated system inventory I wanted to automate inventory because you have to keep you have to be sure so the way that I have my setup is I'll have a box for my housekeepers and I'll have a box for my large storage format for my clients as well so I might keep 50 rows of tissue in 21 paper towels in the large box in the storage but in the unit I might only keep five paper towels intense issues so now when my housekeepers are coming just say I have somebody comes today Monday and Tuesday they check out Tuesday then I have somebody coming Wednesday they check out Friday now my housekeeper is not are not worried about going back to the large storage to get inventory it's already in the unit yeah so it kind of if I was to write it down it'll show you it'll you'll see what I'm saying so basically I'm saying I don't have to worry about them after every checkout figuring out where tissue where's hepatology supplies already here so we're talking about tissue paper towel coffee if you've done it right creamer cream you know some of the ones we stayed and didn't leave us any debt but we don't do anybody little girl no I don't man and like you said I mean it's keeping it all in-house and it only makes sense because it's all relates to the business not like it's like if you gotta get your tires repaired now if they can fix your window - it's like you know it's easy as opposed to like alright you got to go for the one mechanic for one thing another mechanic for another thing you could do everything in-house yeah what about long long here is that something that is for my help for our two houses yeah but that's not often cuz there's really no grass I think that kind of okay yeah it's a it's on a college campus on Georgia Tech's campus and those kids I don't care that's crazy yeah you look like you are a college student and you had enemies or no college campus Oh use use use trapping out of camp travel out the band oh so alright so now yeah I was down a bunch in education we're gonna go into some some do's and don'ts for the Airbnb industry in the next segment and someone game yeah Ernest what's up we saw the DMS we got your voicemails we got the text messages we got breaking news yes our brother Ian Dunlap aka the master investor has extended his elite high performance stock Club the new Lulu new stock Club just came out it was extended 50% off has been extended to July 13th Monday July 13 yeah so by the time you see this on the next market Monday we don't have some new members don't wait don't hesitate yes and once again that includes 28 potential high growth stocks 10 dividend stocks and a long list of other things all the information is on our website Ernie Alicia calm under the events tab also streaming on the top of the banner on our website so go to Ernie Alicia comm check it out 50% sale has been extended to July 13th there you have it will see you on other side peace all right so one question that I had was like so you the regular homeowner I got that somebody wants to just rent their home or they apartment if they own it whatever but when you talk about like these apartment buildings where nobody owns them they're just like part whether this luxury or just a regular apartment building but the it's owned by like a corporation that owns the building and you but you can still Airbnb that I how does that who do you approach because you don't approach the owner like how does that work and this is I just wanna make this clear to like every state is different we're in Georgia right now so you know obviously I know la is kind of cracking down Boston yeah so this conversation is good a lot of this stuff can be geared towards everything but this probably would be geared towards where we're at now in Atlanta you have to check your own states and cities but like in Atlanta right how does that work so in Atlanta we don't have any regulations here again the reason the regulations are in place are due to people having those large parties there are some crazy things that go on in the Airbnb energy that people don't realize like it gets deeper than just checking in and checking out guests you get to a point where like for instance one of my units my housekeeper went in and I was blood everywhere so she called me like she was literally she was afraid my assistant called me she's like Lexi and I'm like what's going on I've had it happen when they checked in to help you okay okay okay there was blood everywhere so you have those different things where the government wants to regulate and then of course they don't get paid off us there's people on the on the platform that's making a million dollars five million dollars and the government gets none of it so you know how they are they want a piece of every Bunch pie so when it comes to those regulations those states they have their reasons why whether it's for tax regulations whether it's for those so here in Atlanta I know we have this thing where even in our manchas people want to have those large parties and then you have neighbors the cars are parked all in the code exactly those those are all different reasons the regulations come about so when it comes to the luxury apartments it's really hard for them to regulate in here because none of those issues are really going on besides the tax regulations which is government control now we live like obviously having subleasing sometimes it's frowned upon what's that like here in Atlanta subleasing so there so to your question Alex there's there's units where they don't care about you doing it but you're not supposed to okay so like there's a few buildings here in Atlanta to where they don't really care like you can they know the whole building is like don't over try me I'm coming here to play they got new tenants every three days like how does that work though like do you have to actually apply for the apartment like you're renting it yourself yes so you would you would go and apply regular is if you renew yourself okay thank you friendship as if it was an Airbnb you know like you know if you were living in it as if somebody was coming to stay in for a few days you do everything that time wise if you were moving in people think it's so hard it's not but you can only do that you can't really scale with that because like how many apartments can you lease under your name unless you do it through a company so the company is different but renting them around Apartments under your name don't matter because only the inquiry is going your report not the apartments the apartments only going your credit report if you can evict it or if you leave a balance so you can rent as many departments as you want yeah as long as you Pam loves you paid it what's the so I mean I know you have a back credit yeah what was the role that credit plays in being a part of this Airbnb host er um so no evictions a lot of places no bankruptcies in being away from credit note you have to have a clear background that's all they all that matters there's no minimum score anything like that um be decent I think a lot of stuff for luxury I think you got to have at least I got 600 625 it you gotta walk into 850 what about like a foot Tucker like me Percy when I look at the Airbnb ease I'm always big on like the pictures and I'm like some people don't have like one picture and then some people their pictures look crazy I never forget my shot so my man Jamal we went to Asia for 30 days and we picked the Airbnb in Thailand and it was crazy like the it was so crazy like the pictures look dope and we got there and it was driving for like 5 minutes 10 minutes 15 20 and it's like backroads or mine alright and it's a luxury apartment building yeah in the middle of nowhere literally we look out of the window and there's like kids playing in the street with no shoes like we're in it like we in in trenches yeah and I'm like where did this come from no idea so like from for the first question that I have is like photography how important is photography and like what is there like certain thing like you should always show your kitchen you should throw your bat like what tips can you give on that so let me tell you the two main contact points for any Airbnb listing the listing title and it's pictures so the nice picture is the main picture on the front so be careful booking Airbnb s if it doesn't show the outside don't look it got you yes I was just looking at Airbnb yesterday for Miami and if it didn't show the outside I was right when you say the outside you mean like out of the house or like a street view or a picture of where I'm walking in so for this house on the street oh now I'm going to see how the whole house look for apartment but I want to see the apartment building for a minute rise I want to see the mid rise so the like I said the two main contact points for your B&B listing is its title because these are the two first things get see when they're scrolling yeah so when you put the title you put in first two bedrooms and is that fun that so the way that I tell my clients is don't list the city because people already know where they're traveling to okay they only give you a certain amount of characters to list a title so don't be redundant meaning if I go in before you go searching for anything you have the type where you want to say so if I'm typing I want to say in Atlanta for five days I don't want to see a listing time that says Atlanta cuz now my listening title is gonna be not important not gonna be important you wasted some character you wasting your characters so the with the listing title they see that and then I might add a star on it a lot of people don't know that so that's a tip I might add a start on my listing not all of them depend on the unit and then the domain contact photo which is the first photo they see needs to be bright it needs to be lit up doesn't need to be a lot of times it's either the living room or the kitchen depending on how nice the kitchen looks now we spoke about the photography and you said that's a big point right I'm taking the pictures but the interior design how it looks inside is very important right you walked in here today and you said alright there's some things right you were calculating things in your head I saw it you have an interior design background or is there a team of people that you've built along your journey so I don't have any tear designer background but I know how to do so I just have an eye for the business like this is my niche so when I walked in here I was like you know like that's just me even even when the one I went to I just came back from Utah like I was looking for everything that's on the pictures and everything was there so I'm not saying be petty or be like um looking for small things but the interior designer things do matter people want to be comfortable when they come stay that's that's the main point yeah if you want if you're comfortable here I get a five-star review is there a standard thing like I know a lot of times when we talk to people that doing real estate they keep things standard right we spoke to Gregg Parker he says he has the same painful as Doris ain't paying for his walls is there a standard design that you have when it's your place and we know we're staying in Lexi's spot no it just depends okay because so let me let me tell you this when it comes to real estate it's a little different Gregg is right like I know Gregg standard I know he's just great when I walk in is gonna be great it's gonna be white tile on the ground is gonna be right but my units I I try to do them all different because one thing the unit the the industry is becoming saturated number one number two if mine is different than everyone else's people are gonna book mine so like I have a movie theater and it took me forever to come up with this idea I was like dang I'm tired of doing the corporate units or just the luxury units where it's just a sofa a kitchen you know a coffee maker hon do something different so when I thought of the movie theater I was like okay babe I got a projector hmm I got a crown molding wall I got a popcorn machine I got a tray full of snacks if you're at a room with you it's a laugh it's not an apartment it's a lot that's what you know we're gonna have to next time we come back to Atlanta not as dope so a lot of people sell experiences in part of their package as well is that something you do as well that's like more self a business like maybe doing pottery or maybe doing something like going to get fried ice cream photography skateboard and things like that yeah the movie theater is more sober vibe so like I'll get couples that come in a bunch of anniversaries a lot of husbands they'll bring their wives I've had I know for a fact like 20 of those kind of reservations have people they bring kids they'll have like girls night slumber parties those kind of things work for that unique and then my friend Maddie he's also in the business he has an arcade in his arcade is listed at like 1700 a night Wow so just from him scaling his business doing it a different way to answer your question look look how much he gets to charge for that unique 1709 1900 so you can Airbnb stuff besides just living but you can't be there you can there's there's some creative things there's a treehouse here in Atlanta it's not linked to I think in Stone Mountain she charges 375 a night and she's booked all the way until the end of December 2020 yeah I think I saw something like that yeah it's like I'm like wait why would somebody but people want unique experiences they want sometimes they want to be away from the city I got real treehouse yeah no joke he's a mechanic he built the he bought the treehouse in their backyard it's literally in the middle of nowhere a bunch of woods he tore down a few trees and he bought the treehouse you walk over a bridge those I saw the bridge is beautiful the tub you looking out the window like I'm happy to show I see it looks really it's beautiful in his suite 75 at night and she's booked every night like you came to book it right now and she still appears in the algorithm that's so there's a lot of costs that come into this right so I listed a few in if I miss them let me know obviously the furniture and the decor if you have to put out yes people don't think about this but the TV the cable yeah because that happens Wi-Fi obviously yep obviously you put the cleaning closer there any other cause that people don't really know about that they should have to get into this so you so let me go over my checklist so you had the rate you have the deposit you have the application fee you have the admin fee you have furniture decor you have basic amenities like paper towels tissue because I buy those things in bulk so it's best to buy my book let me tell you why when I first started I would be buying like I'll go to the dollar store and get like a 4-pack of tissue and I find myself going the guests talking my dank I know tissue I gotta wake up at five o'clock in the morning the second tissue so then that's when I started buying it in bulk so you know once you start buying things in bulk laundry detergent coffee creamer you know that's the kind of asset so you have those basic amenities and then you have you don't have to do cable a lot of my units a fire suit okay so the fire stick has live TV it has pay-per-view so they can see all the fights and stuff like that you don't have to close on that okay indeed Wi-Fi of course you have to have Wi-Fi and your electricity yep Georgia Power that's it so I tell my clients don't outside of those that I listed you don't need anything else so when you get furniture don't go getting our furniture line of credit because that's the extra builders are gonna pay every month do it let me ask you this because it's like I told you off-camera I was thinking about doing this in LA but I wanted to live there do you recommend is that a good idea to like have a have a place where you're actually physically living yourself or you shouldn't mix those two so you're saying if like lifts their parts on Airbnb it out port you could do that that with me I got real OCD with people with me sleeping behind people and you're sleeping behind different people so that's just my personal preference the vibe is not it's a little off you different people come in people internationally get bedbugs this is I really run a mini hotels you think about it so when I think about that hotels have bedbugs yeah and people you just never know where people are coming from so I honestly don't suggest that way some people don't care just because they travel so much but me I would never do that okay well so let's say for example April I booked I booked one of your spots but something comes up and I have to cancel is that something that's rolled in to your cause like how does that work cancellation fees so with Airbnb there are three different cancellation policies you have strick you have moderate you have flexible so flexible flexible moderate in strict strike you have to cancel within 14 days I believe moderate you got seven days in flexible 48 hours which one you recommend I do straight strips no roaming taking that risk of not getting booked if someone cancels 24 hours before or 48 hours before and you don't get booed and you could you'd lost money because it was no no there are some instances where people will reach out to me based on how their profile looks and that becomes a screaming like I had a guy he had like 20 reviews are five-star and he told me his grandfather passed and he sent me the I didn't even accent for documentation he sent me the I think he said the death certificate I gave him a full refund okay so I'm not like no I don't I don't go that far but if you just cancelling and you don't tell me anything then now you're not getting him anybody got room okay and most people don't know Airbnb takes a percentage of each reservation right you want talk about a little bit so everybody takes a 3% service fee but it doesn't come out of your profits sorry what you make what is it come from the guest May yeah so let me say this they get the guest B and you have your you have to pay three percent service fee for Airbnb okay got it so how quick can you get an air beat like all right let's say I get an apartment and how quick of a turnaround can i realistically expect to start air being being it out and somebody coming to so with so honestly I'm gonna be straight up with you so my units I tell my clients you don't take longer than seven days to get furnished if you take one in seven days I'm putting you in the back of my list because this is what happens say I paid twenty dollars in rent on the first I need to be listed by the seven why today I take fourteen days that's why rent coming up in two more weeks so now you come out a popular rate it doesn't make sense it makes your investment pointless the point of it is to get somebody it's a short-term rental business so you got a short period of time to get listed the other side I'm saying so with us when I tell my clients hey we'll see get your keys you need to once you're once you're applying for the place you need to be getting furniture if you know you're not gonna get approved then you don't need to be applying you need to find somebody who you know don't get approved so what's you get listed once you get on your keys I'll tell them seven days a lot of them take three or four days it just depends and then I'm scheduling my photographer so I'll do my walkthrough to make sure everything looks as it looks as I did here and they all schedule the photographer the photographer he's my own photographer so you normally get some back to mood in 24 hours I'm listing them and then how long will you list it how was the usual turnaround time for somebody actually books it two hours three hours three hours I can show you that on my phone my clients begin book they be having five reservations about a 24-hour mark period period with a tea periods okay no the actual period not like a city girl they have baby they be like Mike sees it's my you never wake up that's you that's you yeah all right so outside of the cleaning thing you said that was kind of hurt you in the business there any other obstacles that you face that you can head tell people like hey look out for this look out for this screaming you have to be careful of people who have negative reviews already people who are oh let me said his natives I don't know set Belinda reservation because this is my accident why do you need my place if you live here nothing I will accept them under conditions because I have people who live here and they have businesses they'll come film like this get these all the time okay people cooking shows they love how the kitchen setup widows just so you can't like if they live in a city is something fishy they throw a pop right on a party I just buy your profile will say you live in Atlanta yeah and if I look at your area code if you say 404 77047 O or six seven eight I'm not gonna except you whoa yesterday that's the area that's the zip codes Joseph or zip code for Lana got you what so a lot of times people say no parties in the Airbnb right but there's no cameras inside is that based on a security outside is that something that should be standard and or Airbnb is having a security camera outside to see what the traffic coming in you don't know a party you you will know I know a party every time I had a guy come stay in the loft the movie theater lost and he told me it was him his wife and his kids his two kids when I went in there it was 12 weeks of boxes at the door it was for trash bags they had a bunch of pink and yellow plates in a bunch of pink and yellow silverware in the cabinet yes ain't no kids oh yeah I live out of town and my kids came my wife came and we just we just had a party so I don't that you know I had a camera I had a camera and I don't look at my cameras like I don't go look at them if I guess tell me something I'll believe it like okay but something kept telling me my icing was like go look at these cameras this man had 14 people in mind he said one supposed to be four people there are 14 people it was a huge little slumber party with a bunch of girls like you know it wasn't an issue it was a principle if you would've just told me that from before I would have let you did but because you didn't tell me no you got to give me that $20 pretty she goes fee that's I was gonna say so that's it is a charge for every person that comes in outside of that okay you can charge what you want to charge some people charges teen so we were charged 15 but are charged 20 whoever that man is you played yourself man so when it comes to the security it really you won't know a party like I've had units where there were access everywhere there leave roaches all in the you know on the counter just messy you'll smell it because a lot of them don't have balconies okay just careless so you could just decide not to let somebody use your Airbnb yep and there's no reason why you got to give them well if they booked and you want to cancel them you have to give a reason but if they are just inquiring you don't have to accept them you know what I'm saying so you on Airbnb you can enquire instant like a message like hey how close is this to the to the airport that's an inquiry and then I have the option of accepting the pre-approval yeah so you can go accept a pre-approval or you can just do an instant book you don't do you do I know like as a guest you can write a review but does the owner you write a guest release the first time I signed up for Airbnb and I'm trying to get a spot obviously I don't have any reviews does that does that looked upon a lot of first-timers so you I really don't judge offer you not having any reviews okay if you don't have any reviews it's like don't hang yourself technique um I'm saying so I'm giving you the rope how do you know what the charge you had to that comes with location furniture the many seas that you offer those are the three main things do you take like the monthly rent divided by 30 days and kind of come up with that no so you you do have to do it that way speaking technical when you are getting into the business don't go get a unit for that where you have to pay $5,000 and you know you don't look at charges $500 a night because then you're not doing a hundred times 30 you got to do like a hundred times 19 a hundred times 20 cuz you have to account for those bake at night tonight you might not get booked every night and weekends are always more yeah well you can't make it that way minds aren't people know is there a specific time of the year that is just peak season now its peak season because so everyone's unit is different I have a contract I have a contract with acting agency so I have to aim in Sony so I have a lot of actors that come in and it's pilot season I think I just learned that so I don't even know nothing about no pilot season I guess a bunch of actors are traveling yeah so they are they're coming so about from this time to about summertime it slows down when it's back-to-school time so like August September starts to slow down I'm sure Tyler Perry bringing everything he's brought to Atlanta's hopefully not system they oh wow crazy so one last question so all right so you don't have you don't have to have any special insurance no just a hundred thousand dollars depending on the property one hundred thousand dollars of renter's insurance yeah insurance on the apartment and then luxury apartments you have to have minimum one hundred thousand okay so what's your what's your personal take on a future of Airbnb like do you think that because like you say there's a lot of issues with like LA specifically New York Boston the sheriff at Cisco San Francisco do you think that and you're just in your just opinion do you think Airbnb will continue to prosper or do you think it's gonna become harder and harder I honestly think it's becoming harder but there's loopholes to any business politicians have opposed the president got Lupo's every business that you have it has loopholes so when it comes to the regulations it you can't do it it just means you have to register and pay taxes on it as if you were doing a regular house so people think about regulations even with Boston they never say you couldn't do it Tampa - they never say you couldn't do Airbnb they just said that you just have to register so you can pay taxes on this so you've registered it as a business with the state and then that income you pay a tax 1099 did you saying that we need so um to answer your question you it really just depends yeah it depends excuse me to cut you up Atlanta Atlanta is really prospering like this is a city for it over 2018 Airbnb took 450 million dollars of revenue from hotels yeah and that's the problem as far as like it's just the same thing with uber in the taxi Lobby and the hotel industry is extremely strong yeah and it's like now it's starting to kill the hotel industry so now they fighting back where air B&B is a billion dollar company as well sorry knock on just go so it's gonna be a fight yeah but um it's a lot of pressure that's being put on from the hotel industry yeah and and you got community organizations and occupancy fees you know you go Hotel you got paid all those fees on there on the receipt when you checkout permit fees yeah we just Airbnb they're making us do the same thing yeah that's it so is they it's not gonna really cut nobody profits it's not that bad alright so next time we're gonna talk about how you help people and how you educate people to get in the gaming since they can get some money in the 101 yeah so all right so you're young then you got the game figured out you're making a lot of money but you also teach people and you've been teaching so what made you want to do that cuz you could have just been getting money on your own what made you want to go into education and actually you know teach people and make them successful you want to know what real made me get into education great big business no shop to be business I was a big business is what made me get into education how do me a huge platform and I became this client and then we spent New Year's together last year I was at we were in Miami we go to Philly I just go to Philly just to go up there and kick it with them sometimes that's how I make great but just with I saw I was like I figured this business out what's that I figured it out I was like well it's time for me to do something else I don't want to keep just getting unis I was like well that becomes boring so then that's when I thought about the classes so my class is they last about four hours and they're extremely informational they're just larger the one-on-one it's more so you actually getting your unit that's my one-on-one with the classes is just information you have to go figure it out on your own 101 you actually take me through the process of getting it yep step by step even down to you bring the interior designer him us watch me get my first property yep Wow everything and then I list it for you when you just come to my class you have to figure that system out yourself I have I have step by step by step with my one-on-one program for you until you get listed all the way until you get booked and then once you get booked once you get listed a lot of my clients join my one enjoy my property management company so literally like you're you're holding onto my arm the whole entire time you have your unit what the enjoyment of like teeka's Troy's an educator and I teach financial literacy to kids so like it's a different feeling for me to like nobody it's good to know something right when you could teach somebody something for me and I'm sure I felt the same ways that didn't love the basic fulfillment yeah and it's a different feeling so like what's the what's the feeling for you like when you actually teaching and you can tell it they're learning and then like you have they have success like how does that feel it feels so good it feels so good me posting my client so if you go on my page I have a few of my clients listed their listings it feels really good it makes me it makes the mistakes that I made worth it worth it yeah it really does I obvious dang no now I'll be having man I'll just wake up two to five crying is you know I'm saying so now I get to a point where it's like dang those mistakes I made people are really so also so what the mistakes I was making which is how I came up with my automated systems I put them all in the inning excel sheet so there's logistics for it so for every mistake I've made I promised it for any for any issue you have in the business I have a solution for it there's not a solution I don't have for a problem in this business and that's something that I've scaled so it's something that I've worked hard for there's mistakes I made there's super health centers that I lost from those mistakes that now I can teach people hey do it this way so that you don't make this mistake okay go this way so that you don't do it the way that I do it the last time we wouldn't let her our guy Alex he actually said that he was like people are not paying to learn from me they're paying to get my mistakes they don't make a scene yeah that's true so the class is is it spread out throughout the United Sates are the clients from everywhere because I know you're based in Atlanta are you do you have Airbnb outside of Atlanta no I don't have my clients do they do okay so we could do it virtually so we can do it through a phone call that's that's how simple my wondering what program means but it works and if you do it the way I say investing in yourself is the best investment absolutely all the time it's like what's the price if you play basketball how much would you pay for Michael Jordan to show you how to play you can't put a price on that like I'm saying it's like that kind of it accelerates yeah you might get to where you want to go by yourself but that's the whole thing having a mentor having a coach and this is why I like LeBron like it he pays a million dollars a year just on his body he has the gig but there's a reason why he's I heard every year exactly exactly chefs and massage therapist trainers in Ohio so it's like I always tell people what your business is like what's your budget yes to improve your business it's like if you don't have a budget to improve your business you're not serious about improving your business that's true just a fact yeah so and then I see other people they are people look at my price and they compare it to other people's so if I charge I just up to two grand January because I'm like this I saw how many clients how it's killing I'm like this is worth more than what I'm charged how many plans you got right now I have 67 clients Wow ok 2 4 so 4 2004 2020 I went up to 2 grand so number 101 2 mm and I'll go on other people who are doing Airbnb and they're charging the same thing but we have the same systems and there's other people who are charging a whole lot less but they're just getting their feet wet my feet are wait I'm swimming how many how many sessions do I get with the one-on-one is it there's a monthly time or how's that work no it's we row in so much process we wrote you call me how many ever times you need to well it's not it's not no allocated time oh yeah there's no allocated time so you also do a master webinar yes yeah so my webinar is what I originally started off with before I started travelling on tour so the webinar was I think I hosted like two or three before and it's the same it's the same information that I teach in my classes except I had so many people that were out of state that I was like well there's no need to do it here in Atlanta like there's no need to have a class here in Atlanta so then I got to a point where my audience became bigger so I was like okay now I can start going on tour so my webinars was just for me to jump out there to see what was going on in my webinars out have like 50 and 60 people do just touching the Regency you know it was it was my my beginning stage webinars I haven't done any recently cuz I started traveling alright and then you also told us it which is we excited about that for us you gonna give us a discount for earnest enough listen to this podcast right so so anybody who listens to the podcast will get 100 on off my 101 program with the portal so use promo code ey yo $1.99 so promo code ey l 199 and they get $199 off absolutely you know earners you heard it man y'all gettin this game this is a good way to start now about exposure and you know we just try to provide as much information especially from people that's relatable right and you know I really think that you know a lot of people can relate to you and being being you know being african-american and just doing your thing so thank you thank you for joining us man this is really educational for me this I'm definitely going to try to get that's a fact cuz I stay in enough air being peace we stand enough at night that it's like always we know how it works and we utilize it so much we use Airbnb more than we use hotel this is one thing that I do every time I go stay I look for something that I can use in mind oh yeah different every time I go to a different Airbnb of something like okay well I can use this in mind and I'll go get it mmm and I go to stay somewhere else I can use this in mind and I'll go get it don't you think so so how can the people contact you can you tell me your social media handle with any website or anything like that so my name is Alexia right my social media handle Instagram is underscore Alexia it's al EXI a w RI ght dope dope um Troy housekeeping item yeah yeah shout to everybody on patreon.com y'all know that's not proud to pay program it has been revamped so shout out to everybody that is with us you know that our top members get access to a yl university that is our online school it's webinars three times a week for myself shadi Matt oMG the mortgage guy and we always have a guest webinar on Wednesdays shout out to our brother Jamal he hosts on Wednesday webinars and shout out to our new patrons Joey Patrick and Jonathan welcome to the family welcome to the community and thank you and everybody's been supporting the merchants we got some numerous dropping so be on the lookout for that and yeah man appreciate you I love try out some good people of more than 9 to 5 they gave me this merch this t-shirt and shout out to anyway that gives us merch we try to win as much as we possibly can we get a lot of merch but something I want to know how light you trying to encourage entrepreneurs and just spread love spread good energy so you shout out to anyways that's giving us merch and yeah once again a choice at Ohio University if you're not a member sign up and thank you guys for rockin with us we'll see you next week peace please [Music] [Applause] [Music] [Applause] you
