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Brian Davila Show - Real Estate Investing, Building Wealth, Faith Based

The Challenge of Managing Airbnb Properties Yourself

Brian Davila Show - Real Estate Investing, Building Wealth, Faith Based

Wealthy Investor - Real Estate Investing, Real estate, Build Wealth, Faith Based

Flipping Houses, Wholesaling Real Estate, Business, Investing, Rental Property, Real Estate, Real Estate Investing

2.5884 Ratings

🗓️ 17 September 2023

⏱️ 9 minutes

🧾️ Download transcript

Summary

How the Robinsons manage 30+ Airbnbs themselves... We want to coach you at Wealthy Investor! Book a call with the team here - https://www.wealthyinvestor.com/ -- Are you living The Wealthy Way? Take the quiz and get FREE access to the “Wealth Builder Academy” where Ryan goes over all the fundamentals of building wealth. https://www.wealthyway.com/ Would you like our team to help build your personal brand? Apply to join Pineda Media at https://www.pinedamedia.com/ Looking to grow in yo...

Transcript

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0:00.0

All right, so you guys go all in on Air B&Bs.

0:02.7

Yeah, like what does that look like exactly?

0:05.0

Yeah, I mean, so we, you know, like I said, when I lost my job,

0:09.2

we had two active properties.

0:11.2

And after I lost my job, we had no W-2 income. We had no ability to get approved

0:17.6

for mortgages. We had money, but we couldn't spend it on real estate because we need to spend it on our mortgage and utilities and stuff.

0:24.1

So basically we have to find a way to scale without using any of our own capital and without using

0:28.5

any of our own ability to get approved for mortgages.

0:31.6

And what we did was we started leveraging our network to find partners to basically

0:37.4

fund all of our deals for us. So that's what we did. So all of those properties we bought in 2021, I think only one of those we bought like with our own capital.

0:45.6

Everything else was us raising money from other people. So we would find the deal. We would set the property up.

0:51.0

We'd manage it long term. They would bring the property up, we'd manage it long term.

0:52.7

They would bring the capital for, you know,

0:55.4

down payment closing cost, set up costs.

0:57.2

They would get the debt, and then we just split everything

0:59.4

down the middle.

1:00.3

Got it.

1:01.0

And then, okay, so I think a lot of people

1:02.3

get this twisted too, like, oh oh you guys have a following already that of course you were able to do that but yeah

1:07.4

I when we started this and that was our game plan I had maybe a thousand followers.

1:13.0

I had just started bigger pockets and like six weeks before I got fired.

1:18.0

So we literally did not have a following at all, you know, and I think a lot of people listening might be like, well, guys are the Robinson's of course it was easy for you to pull partners, you know, but we really leaned into our skills and like I'm a social media queen.

...

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