Beau Bailey is a veteran real estate agent and house flipper.
When looking for other streams of income to mitigate the ups and downs of flipping he discovered Airbnb arbitrage.
Watch as Beau talks about his journey into short term rentals and the arbitrage business.
Transcript:
We were flipping houses within about five years in and we’re just running the grind. I mean, flipping anything and everything we could as fast as we could. You’re always up against that cash flow crunch and trying to get that puzzle figured out. We kind of had this lightbulb moment of there’s another way. And we’ve been seeing a lot of other people doing Airbnb, let’s look into this.
It was my wife who really dug in and found this method we never even heard of, but basically renting out a rental. There’s some guy off somewhere doing it. And he put together this whole course. I think it was like 500 bucks or something, she paid to do it.
It just like completely opened her eyes to some possibilities that we didn’t know, it really existed. Basically, working with an existing landlord and working the agreement to rent their rental as an Airbnb. We furnished one, the first phone call she made, the guy said, “Sure, let’s do it. I used to have an Airbnb, it’s a lot of work. But if you guys will do it, let’s just give it a go.” And we furnished that thing up. It’s been our consistently booked Airbnb. We have seven going now.
We’re about to have two more with it by the end of the week is the goal and hopefully gonna keep growing that, but it’s been a amazing process learning. It can be a headache at times, but it is really fun to watch this thing grow. And to see that passive income coming in.