Many people think that being a successful Airbnb host requires owning your own properties but that doesn't have to be the case always. You can actually earn a hefty amount of money renting out other people's properties.
In this article you'll learn how you can do Airbnb without owning a home - it's actually a genius business model.
How the business model works
It's called a Home Sharing Management Company or HSMC. Here is how it goes:
There are MILLIONS of homeowners who have an extra unused room or empty vacation home that's just collecting dust. They are losing money or leaving money on the table.
They have zero idea on how to use Airbnb and don’t have the time to learn. And that’s where YOU come in.
You will find these homeowners and pitch them on listing their extra room or home on Airbnb for a commission (usually 50% of the fees).
If you pitch it successfully they will always agree because their property is empty anyways - they have nothing to lose.
Then you’re going to create the listing on Airbnb (takes a few hours at most).
Then you start getting guests and collect the passive income that comes in each month through that listing.
Zero management of the property. Zero ownership of any homes. Amazing, right?
This is a really cool business model that wasn't available decades ago. Let's look at the pros and cons to see if it's right for you.
Pros of a HSMC
Let's take a look at the advantages of a HSMC:
You don't need to own a home or have money for a downpayment
You don't need to manage the property. Everything can be automated
Airbnb and short term rentals can be extremely profitable
This can be full time or part time. You can do it with 1 property or 10 properties if you know how to automate
You can run this business from anywhere... as long as you have an internet connection and a smartphone
If you're advanced you can have properties in different cities and countries around the world!
Cons of a HSMC
We try not to be biased. We know that every business has pros AND cons and that this might not be for everyone. Here are the downsides of a HSMC:
Airbnb is banned in some cities. It's either not for you or you must commute to a different city
Airbnb doesn't teach you how to start a HSMC - You must take a course, learn from someone, or do it the hard way and learn as you go
Must invest time and some money to learn how to do this properly (like any business though)
You won't make as much as if you own your own property. Remember you have to give a cut to the property owner
More work than if you own your own home - must make contracts and do more setup - again this is difficult unless you have a course or person to teach you
Who is this for?
A HSMC is for someone who is interested in real estate.
It's for someone who wants a profitable business that can potentially make 6 figures.
Someone who is willing to go out and pitch property owners.
Someone who is willing to learn - although no past real estate experience is required.
Someone who wants a side hustle or build a stream of passive income.
Make sure you decide if a HSMC is a good fit for you. If it's not there are so many businesses out there you can start. Are you willing to do all the things mentioned above?
How to get started
Starting a HSMC can't be covered in just one article. You can start and learn on your own but obviously that will take forever. This is not as easy as if you owned your own property.
If you want to learn from a mentor in a step by step program I recommend Tai Lopez's HSMC course.
I didn't make this guide to promote courses but Tai covers HSMC better than I possibly can so I think it will be worth your time.
He brings in Airbnb millionaires that share everything in a step by step training you can copy.
The course also has a 30 day refund policy if you're not satisfied for any reason - so there is literally zero risk if it's not for you.