Airbnb arbitrage is a simple way to scale a short term rental business.
Having systems and automation in place is important to help streamline the ongoing management that comes running an Airbnb business.
Consider these tips from George Salas who has rapidly grown his Airbnb business to over 6 figures!
Transcript:
Chris Bounds 00:02
How are you using technology to to help clients experience?
George Salas 00:08
Right now we’re actually implementing the most technolgy that we’ve ever had. We’ve tried several but right now, it’s all about automation. Right? You don’t want to build a short term rental business, that’s going to be another job for you. I did that first, learn the business and then essentially, I applied the technology skills that I was learning and then I was able to implement this technology.
I had to try several actual platforms until we landed on the ones we use today, which allow us to give extent owner reporting to our partners, clients, myself. We use technology to automate all of the messaging, the quality control, all of the scheduling, and even the reviews at this point, right now, we’re just everything. We’re pretty much, automating. We’ve automated the entire business, but there’s always a next level of automation, right? It just comes one tweak at a time.
Chris Bounds 01:09
You said something interesting. You’re in the trenches and we’re doing it all, and then you’ve built the systems on top of that. Do you feel like someone coming into this, can just jump straight to the automation and do it as effectively? Or was that like, in your hands on the pulse, like you’re in the trenches, you feel like that’s what gave you that cutting edge to go and like, really fine tune what that automation should be to make sure the clients experience is better.
George Salas 01:41
I would say, depending on what your goal is. Right? If you’re going to jump into this business and you want hands off from day one, then you can build a team from the get go that and utilize these automation techniques, right. To be able to really automate fast. Matter of 30 to 60 days and just say, we went to about 10 properties.
In the first 60 days, we tend to rental arbitrage that we did at a time. We did not automate, I went on to the trenches, because I didn’t know that automation really existed. Right? I didn’t know what to use, there’s so much out there. You don’t know what to use until you try it.
So I would have said, if you want to be hands off that either build a team will work with an investor or a short term rental host that wants to be freeo r I’m sorry that wants to operate with you. If you want to learn the business, operate that and then leverage those skills to either teach someone else or improve your business and grow your operation.
So like if somebody wants to actually build a management company, which we accidentally built a bad ass management company, right? That was by accident. I didn’t know what getting into the management business but that’s what you do when you’re managing short term rentals. You know, so I would say go for it, learn everything.
Then I think I’ve done it, for 2,3,4 months, with more than three to five properties, then you really know what’s going on or go work with somebody that has done it before with with tons of properties, right? That’s my suggestion. Either way, I would say it’s all about your goal.