Get a $100 cash bonus when you fund a Baselane account: https://baselaneaffiliateprogram.pxf.io/4G2e7G
MY TOOLS:
My Clickup operations dashboard and template (Vacation Venture Vault): https://lydiapatel.com/vacationventurevault
Short term rental calculator (free): https://lydiapatelll.ck.page/calculator
Setup guide downloadable (free): https://lydiapatelll.ck.page/how-to
TABLE OF CONTENTS:
0:00 intro
0:23 Should you Airbnb
4:44 How to pick a market
7:38 Buying property
8:25 Legal entity and business setup
9:18 Business banking
10:17 Business credit cards
11:30 Rental license and inspection
11:54 Documentation (bookkeeping, mileage, time)
13:10 Property setup
13:52 Security measures
16:09 Interior design, high ROI elements
18:30 Stocking supplies, inventory management
19:38 How to build your team
21:06 Standard operating procedures, downloadable PDF guides, project dashboards
22:23 Photography tips
24:30 Setting up listing and profile on Airbnb
25:59 Airbnb algorithm
26:48 House Manual tips
27:03 Pricing strategy, cleaning fees, cancelation policies
28:40 Guest messaging templates and tips
29:20 Add VRBO, booking.com, direct booking, etc
30:16 Property management software - do you need it?
31:20 Operations setup / final touches
33:30 How to set up your own project dashboard and build SOPs
35:50 How much ongoing time is needed?
38:56 First 6-12 months are HARD - beginner advice
RELATED VIDEOS FOR A DEEPER DIVE aka basically a free course on Airbnb-ing:
How to pick a market: https://youtu.be/WU5z_Ak3znE
How to project revenue: https://youtu.be/4VfGy_tA6oI
How to use IRR to assess an investment in real estate: https://youtu.be/IexZvsti93Q
How to write the perfect listing: https://youtu.be/axxkShYgMqw
Airbnb algorithm: https://youtu.be/fOe-1ZOK7FE
Building an operations dashboard on Clickup: https://youtu.be/ffGqJW63mYI
How to screen guests/deal with bad ones: https://youtu.be/oh3I4G29aRk
How to guest messages: https://youtu.be/J41BWzZcMvc and https://youtu.be/R-LepDdJouk
Tax-related benefits: https://youtu.be/9h0etOeWE-Y
Mistakes to avoid: https://youtu.be/S6sL7xLNCH4
Interior design tips: https://youtu.be/v_YpNsCbsLs
The original guides: https://youtu.be/IAmqFg8QZUg and https://youtu.be/TXmRiIwJXjI
USEFUL LINKS IN YOUR SETUP:
Airbnb hosting with me as your ambassador: https://www.airbnb.com/rp/lydiap12302
AirDNA (for projecting $$, free version available): https://spn.so/l/h2hduqgh
Pricelabs ($10 credit): https://pricelabs.co/users/sign_up?referral=WY3KiB
Projection Lab: https://projectionlab.com/?ref=lydia98 free version works great, if need to save data then try the premium
Landlord Insurance: https://lydiapatel.steadilypartner.com
Northwest Agent discounted rate at $39 per LLC with link: https://shrsl.com/4869z
Lodgify (PMS): https://www.lodgify.com/?afmc=1nq&utm_campaign=1nq&utm_source=leaddyno&utm_medium=affiliate
Minut: https://minut.grsm.io/y038at04wf00
Upwork (for finding help e.g. assistants, staff): https://upwork.pxf.io/q4WYNb
American Express Blue Business Cash (bonus and 0% APR 12 months) -https://americanexpress.com/en-us/referral/bluebusinessplus-credit-card?ref=LYDIAPuZmJ&XL=MIANS
Chase Ink Unlimited (cash bonus of $900, 0% APR 12 months) - https://www.referyourchasecard.com/21t/GDK7EMTTLX
Aura (privacy/data removal): https://aura.com/lydiapatel
Clickup: https://tryclickup.co/lydiapatel
Modern furniture (including the bookshelf behind me): https://bludot.pxf.io/3JXPKv
Business inquiries: hello@lydiapatel.com
IG: I'm @ lydiapatelll
Disclaimer: Above links contain affiliates, which means I receive a small commission at no cost to you. Affiliate income helps me keep the resources free for a greater number of people. :-) Everything I recommend have been fully tested by me. Thank you everyone for your generous support!
Also- everything here is based on my own experience and knowledge. I am not a licensed tax or legal or financial person. I care deeply about being honest and transparent, and try my absolute best to give you everything I know, but I can't imagine every viewer's situation and ensure what I say applies to your circumstances. When in doubt, always seek professional advice! (Or at least, leave a comment and get some clarification!)
#RealEstateInvesting
#baselane #bankingwithbaselane