This ugly house is about to become my BEST airbnb | RobVlogs

oh these kind of paintings kill me they kill me in the Airbnb game because these guys can make more money pretty soon I'm going to be launching the ugliest Airbnb in my entire portfolio all right maybe that's a bit harsh let me rephrase that I'm launching the ugliest house in my portfolio well okay maybe we'll just say it's my least cute house but just because the house isn't cute doesn't mean that the Airbnb can't be totally awesome and I'm going to tell you all about the launch of my ugliest Airbnb but first I got to take care of a little problem I have a lot of airbnbs probably more than you and believe it or not I have the same exact problem that you have with any Airbnb that you launch and you think I would have figured out how to solve this problem by now but truthfully it's always a pain in the butt and what's the problem that Bridges the gap between you and me putting us on the same Playing Field Time and Time Again boxes and packages I guess so many boxes my wife woke me up at like 700 this morning and she goes babe what's with all the packages on the porch because we got like a ring notification from our doorbell and yeah if you can believe it that's just shipment one of like 40 because I have chosen for Better or For Worse to get the packages delivered here versus my Airbnb so I don't have to deal with package thieves now every time we get packages delivered here I'm going to have to run them over every single day it's going to be a fun week this is my favorite like useless feature [Music] match [Music] Cuts so many [Music] packages I don't know what's in these packages but hopefully they're not that breakable you guessed it more packages that took way too long to set up as a shot packages packed up now we're going to go drop them off at the property just took a shower already sweating great all right was just driving to the house and check it out looks like my neighbor might be setting up an airbn D too well either that or they're a hoarder probably [Music] that well it's a little smelly in here hopefully the smell doesn't soak into whatever's inside the boxes but on say it should be fine for the next week or [Music] so box is delivered I am in a full-on sweat and I'm not even focused oh boy some bad news here though know I'm a busy guy and I forget things sometimes and I totally forgot this house has termites yeah that's right termites and I was supposed to get it scheduled way long ago cuz I've owned this house for a while but I just completely forgot until this moment fudge you know that's kind of how it goes man I've got a few businesses I've got a few properties I've got students I've got speaking engagements content it's kind of funny for as like big as a machine as I have in working towards this like whole empire thing the things I forget and the things that fall through the cracks are pretty nuts so just know I still make mistakes all the time I just choose to talk about them because I like getting judged on the internet can I help you hi there I wanted to get my house scheduled for fumigation I'm working on a relatively tight schedule here we have the funky team coming 1 month from now to get it all set up on the 28th the fumigator is like sorry we're booked until the 28th and then I'm going to Copenhagen for a month so I'd really prefer to get it fumigated before I'm gone and before all my furniture is in there truthfully and then I was like do you have a cancellation and she was like actually yeah May 9th she pushed me up 2 3 weeks just because I asked so just a friendly reminder to ask for the things you want in life because if you don't things just don't happen actually before we go let me show you this house yeah not the best looking house nor is it the best smelling house that is for [Music] sure the ozone filter right there so that I can get the smell out of this place cuz it smells like a old dog kitchen uh slightly updated we've got a nice granite or quartz countertops brand new stove brand new fridge but old cabinets and the room I'm about to show you by far the worst one this right here is what we call Texas landlord tile it's 12x 12 tile it's like Mega cheap and uh I've already got my first tenant here she great look at this cute little guy what's up cute little guy hi one star review as you can tell it is not the cutest house in existence it's got a lot of character on the outside the inside bit old lots of charm but ultimately not like the most modern house in the portfolio truthfully what I'm going to be doing with this property is I'm going to be completely designing the hell out of it with funkin Interiors my Airbnb interior design company and the reason I want to do it is because the comps don't look great for this house comps say that this house should make 40 to 50,000 closer to the the bottom end of 40,000 and I'm a believer that funket can come in and increase Revenue dramatically and I found one comp in Houston that looks just like this house has decent design not as good as ours is going to be and it makes $70,000 I think it makes $69,000 a year and if this place makes $69,000 a year I'm going to cash flow $3,000 a month after all of my expenses I'll make $36,000 a year that's like basically a salary so I'm ready for Funk it to do their thing if you're wondering about the numbers on this place I bought it for $400,000 or $410,000 ,000 I put $40,000 into it the design Allin backyard renovation which I'll probably do a whole another video on Furniture Design fees hot tubs everything I'm looking at about7 $75,000 a year I put down $40,000 so I'll be all in at $110,000 so basically if I end up getting to that $69,000 number I was telling you about I'll end up doing about a 35% cash on cash return on this property which is really really great could not be happier with that okay people M The Yards truck absolute worst place to be filming a YouTube video you know I really can't get a break here you know because I have backtack meetings today and I was stepping out to grab lunch and look what I find so many boxes it's literally getting out of hand it's like that scene in the uh in the Santa Claus whenever he becomes Santa and he's like oh yeah and he's like kind of realizing it and then he gets to the house and there's just like and there's like all these filing cabinets and it's like basically all of the documents that show who the naughty and nice kids are deep cut I know but that's what it feels like you you take that come on come on from we supposed to do with all these packages guys come on here's my favorite part about moving boxes though found what' you say I found out the remote you found the remote where was it it was under the couch it was under the couch thanks for all the free labor honey buns [Applause] bye holy moly that is a lot of boxes okay let's talk about this property and my plans for it and the data and all that good stuff as I mentioned it's not the cutest house and when you start looking at my specific zip code which I'll show you here in a second uh the data is not compelling and it's one of those properties that if I put decently nice furniture in there I would probably gross in the $4 to $50,000 range but like I said earlier in the video probably closer to that4 $43,000 range and I'll show you what the comps look like really fast and then I got a Bigger Pockets podcast to film right after this so first let me go back let me put in the exact zip code that this one is in let me just show you like apples to apples here what the data says about this specific property so this property is kind of the pseudo 2 three bedroom so I'm going to put a three bedroom three bath and it's really like a 1 one and a half so I'm going to put a one to two bath range here and if you go down uh the comps in this particular particular zip codes say that we are going to do we're going to disqualify this one cuz it's less than 250 days which I've already broken down how I use airdna in previous videos so go check those out if you want to know my exact comping process but first glance here are two other properties that are decent competitors to me in my exact zip code this one makes 17,000 a year this one makes $36,000 a year don't love that let me go to let me change the ZIP code really fast and change it to the ZIP code right over I don't know what happened there's a ghost in here oh man I'm scared all right carry on so ZIP code right next door over for three-bedroom two baths which again mine's like a three one and A2 it's actually a one and a/ half half there's like a a half bathroom and then there's like a room with a toilet in it so we'll call it a 31 and A2 and if you actually look at the at some of the other comps here 66,000 is the highest comp in this neighborhood but it's got a ton of amenities like a foosball table air hockey table ping pong table I think it's even got like a hot tub in an above ground pool I can't really compete with that so just right out the gate I'm probably not going to do 66,000 if I was designing this conventionally now we got a couple of other promising comps but you can see they start to drop off pretty bad here 50,000 42 uh not a good piece of data here 28,000 29,000 43 29 as you can imagine I was looking through the comps and I was a little bummed but then I came across a comp that's not super far from this maybe 10 minutes away and it kind of changed my perspective a little bit because this particular Airbnb is pulling in really great numbers and the design is pretty decent so check this one out this one is called the Hardy house Spa Oasis Retreat and it makes $72,000 all right it's been tracked for 310 days it's got 132 reviews this one looks pretty good and when you actually open up the listing this is not quite Funk at level but it's pretty nice it's a cute house The Bungalow actually looks almost identical to mine other than the fact that it's yellow they've got you know design on the inside that's not really my cup of tea but the backyard and the amenities are kind of popping even though I still think there's work to be done here but one thing that's very clear to me is fire pit hot tub string lights grassy mirly wall for like photographs with a neon sign and it's a Vibe this is a great photo at Golden hour I went and I actually checked the reviews and everything all of the reviews are all recent great review population this property shows me that oh man it's even a two bedroom one bath so it is basically my house except it's got one less bedroom and from a quality standpoint it's a little nicer of a house but truthfully not that much so I think if we come in and crush the interior design I mean just look at this photo here this is oh these kind of paintings kill me they kill me in the Airbnb game because these guys could make more money if they just spent like I don't know $50 on decent art but no they chose to go to TJ Maxx and spend $5 on the discount art and it kills me because they're already making more money but they could make more money I just I want people to succeed even though they're my competitors I just I want them to watch my channel and understand that I love them they can do so much better for themselves if they just put a little bit of time and effort into the design of things so here's where we're at with this property we've already gotten all the mood boards all of the furniture ordered and man this property is going to look so different and it's going to go from being ugly to genuinely probably the cutest Airbnb I own I mean it'll go toe to- toe against pink pickle but it it'll be up there but check out these mood boards and look at how amazing Bridget and team really did on this I mean it's going to be a freaking insane property so as a reminder comps didn't look good but we're going to come in totally blow this design out the water and if we do and there's just chalk everywhere when you're apparent and if we do this property will likely make $71,000 a year if not a little bit more that property is in a bit of a different location than mine but I'm in a better neighborhood and I think I'll attract a higher dollar clientele personally now I do feel a little silly investing so much money into a a really small house where the data doesn't really support me or you know it doesn't really have my back but as someone who now owns an Airbnb interior design company My Philosophy is this instead of me going out and saying hey use my service we're going to make you more money which I obviously believe or else I wouldn't even be launching the service I don't want to be the guy that says hey just trust me and we're going to make it happen for you I want to be a guy that walks the walk so I am paying my company and my partners our design feed to come in prove my hypothesis that good design can Trump data because if I'm right you better believe I'm going to be bragging about it to the whole world thanks for watching Everybody if you want an update on this property how it's going the numbers you know I'm pretty transparent on the channel I always update y'all on this but if you like this type of content especially the Vlog content which typically doesn't really do well for me but lately it has do me a favor hit that like button the Subscribe button and the little notification Bell and you'll get notified whenever I post an update about the blue house which I don't have a name for yet so maybe comment a name that you think think I should name my little blue house right now I'm thinking aulo which is little blue I don't know give me your thoughts in the comments down below bye

Channel: Robuilt

Views: 5,376

Keywords: robuilt, airbnb, air bnb, airbnb business, airbnb tips, airbnb host, real estate, real estate airbnb, airbnb videos, short term rentals, airbnb listing, worst airbnb, how to run an airbnb, managing real estate, managing airbnb, airbnb management, real estate management, real estate tips, airbnb hosting, airbnb basics, airbnb design, airbnb remodel, air bnb design, airbnb interior design tips, houston airbnb, houston airbnb market

Id: crNkMTrngq4

Length: 13min 38sec (818 seconds)

Published: Thu May 02 2024