The home sharing company, Airbnb, is currently disrupting the hospitality industry. In fact, despite only being founded in 2008, Airbnb now has 150 million users, 640,000 hosts, and a valuation of $31 billion. In just nine short years, this company has already generated more rooms than hotel giants Marriott, Intercontinental, and Hilton.
The way that Airbnb works is that people can host guests to stay in their private homes for one or several nights using the Airbnb platform. Airbnb manages the payments, marketing, communication between host and guest, and the entire experience, for a small fee.
Airbnb can be an excellent way for people to make semi-passive income. In fact, the average Airbnb host makes $924 per month. However, the top 1 percent of Airbnb hosts make substantially more than this with their listings. In fact, Forbes recently reported that more than 75 people earn over seven figures using the site, and even more are earning multiple six figures by hosting on Airbnb.
Brian Page is one such entrepreneur, who has been able to generate a considerable semi-passive income through the platform. Brian joined the top 1% of Airbnb hosts his first year in the business, earning over $117,000 in less than six months and $300k his first year.
Through sharing his business expertise, Brian has quickly risen to become the world’s leading expert in building a highly profitable multi-property Airbnb business. He initially got into the Airbnb business after the 2008 housing market crash. Before that, he was a successful real estate investor who had become a millionaire while still in his twenties.
After the crash, Brian started conducting research on “unicorn companies” or very special companies that scale incredibly fast to the billion dollar level. He realized that unicorns such as Uber, Dropbox, and Pinterest all generate tremendous value without owning the underlying assets that make them valuable. They simply function as platforms where users can interact or get access to assets. This research led him to consider the potential of Airbnb. He figured if these companies can earn so much using resources they didn’t own, he could do the same using other peoples’ properties.
Brian knew that Airbnb was a unicorn, and so he figured that he might try to join the Airbnb phenomenon. After his roommate moved out of their shared apartment, he figured he would attempt to list his spare room on Airbnb.
Soon after, his room started booking. Within just a few short weeks, Brian was
generating enough income from his spare room that it was paying for his entire rent and many of his other bills. Brian had achieved his first taste of Airbnb success.
Most Airbnb hosts stop listing properties after they have listed their first or second property. This is because they do not own any more property to list. But this is where it gets really interesting. In an effort to create more listings to increase his Airbnb revenue stream, Brian began seeking out owners who’s properties he could list on Airbnb. He found a “win-win” strategy for both himself and the owners and an approach that allowed him to find a lot of owner-partners quickly.
This is the key secret that distinguishes the people who achieve massive success on Airbnb; they have many listings and have learned how to build a system to manage them. Many hosts find other properties that they can list on Airbnb as Brian has.
To locate his second listing, Brian found a small one-bedroom unit owned by a woman in his neighborhood. He offered to rent the apartment if the woman would let him use it as an Airbnb property. The woman agreed, and just like that, Brian had his second Airbnb listing earning him over $2,000/month after expenses. He doubled his passive income stream with this one listing.
But he didn’t stop there. Recognizing the major potential of this new found revenue stream, Brian continued to approach landlords and make deals with them to rent their properties and then use them as Airbnb listings. Fast forward a few months down the road, and Brian is making hundreds of thousands of dollars per year running his Airbnb business.
Brian has even taken it one step further and automated many of the processes that are necessary for the management of the business, such as property cleaning, check- in, key exchange, and even guest communication. He was able to cut back the hours required to manage his listings to just a few hours a week using these systems.
His business has afforded him an incredible amount of time to pursue his passion of traveling and seeing the world. In fact, he has visited 20 countries this year, as his business is now managed via Airbnb’s mobile app and his “outsourced and automated” system. After achieving phenomenal success on Airbnb following a few difficult years, Brian now has the freedom to do the things that he wants to do, and live life the way he wants to live it.
The strategy that Brian used on Airbnb is something he now passionately teaches to students around the world, in the nearly 200 countries Airbnb now operates. Many of his students have gone on to build their own six figure plus businesses applying his step-by-step process. For those who are willing to adopt this strategy that he calls his “BNB Formula”, there is tremendous opportunity.
If you’d like to learn more about Brian’s BNB Formula, be sure to join Ron and him on October 5th for an hour-long workshop. Register here!
