November 19, 2019

Episode 01: From 0 to 10000 plus Guests: Tim’s Story

No Responses
General Real Estate

How to build an Airbnb business: From 0 to 10000 plus Guests: Tim’s Story

If you’re looking to invest in short-term rentals then you’ve found the right podcast! Host Tim Hubbard has acquired dozens of short-term rentals and will teach you every strategy, tip and trick he’s learned along the way, managing over 10,000 reservations. In this brief intro episode he’ll discuss a bit about his story and provide some credibility to the content he’ll release in future episodes.

Tim’s background and inspirations
Why the shift in focus to short-term rentals from long term
Scaling the portfolio
Where to look for help and education
Moving abroad and financial freedom

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Welcome to short term rental riches will discuss investing in real estate but with a specific focus on short term rentals quick actionable items to acquire manage and scale your portfolio I’m your host Tim Hubbard.

Hello and welcome to the short term rental riches podcast I’m Tim Hubbard your host and I wanted to start this off just with a brief introduction about myself so that you guys had a better idea of where the information I have is coming from and then not shell I’ve acquired a multi $0 portfolio of properties dozens of units and many of which I’ve converted specifically over to short term rentals when I started growing and scaling the workload through as well and so I created a management company to manage all of my own short term rentals and that companies now managed thousands of gas but it wasn’t always easy and I learned a ton and that’s what I’m excited to share with you guys in this podcast but let me start off from the beginning so you have a little more background.
I’ve been investing in real estate for about 10 years and I got started because of a couple different influences in my life the main one was probably Rich Dad Poor Dad by Robert Kiyosaki the little purple book and I know a lot of other real estate investors got started the same way basically was just a mindset shift that I wanted to find assets after reading the book that made me money and didn’t cost me money so for example your house Robert Kiyosaki you would say is not an asset because it costs you money but if you buy a house and rent it out you make money on that your assets paying you back and that is an asset so I got started with that mindset the first property I purchased was a 4 plex it was a foreclosure although it did have tenants in it so I slowly renovated.

The couple the units with the 0 knowledge I had renovating but it worked out you know I learned things on you tube and talked with friends and family and got some help where I could and from the day I moved into that property I was living there for free and also making money on top of that so I was getting paid to live in a property that I just purchased so that set me off on a really good path later on I became a real estate broker I bought another couple properties by then and I was really starting to get into real estate and so I got licensed in California I worked with a investment brokerage now we just did commercial investments so we weren’t dealing with single family homes and small residential properties but we’re working with big apartment buildings shopping centers with land with warehouses you name any sort of commercial property were working with and we just sit investment sales we’re just working with investors and I learned a ton in that job and the short stand I was there actually it wasn’t there less than a year actually but I learned a ton learn how to analyze deals and learned how to run Thompson understand markets and cycles and I’m so fortunate to have had that job I worked with the great little team there’s about 6 of us and cumulatively we had over $2000000000 in transactions so there was a lot going on there was a lot of great experience in the group and I got to learn from everyone and that really has helped me in these later years.

So at that point I had a few properties under my belt small multi family properties in the neighborhood that I grew up in or the city I should say in northern California and I was realizing at that time that that market had changed and there were better opportunities in other markets I began to look at other markets but about the same time I’d also switched some of my long term tenants over to short term rentals I furnish them and I was running them out by the night they’re staying occupied and they were making a lot of money so I headed off and I visited I don’t know 4 or 5 different states and quite a few cities and property managers and brokers and real estate agents essentially looking for the best opportunities at that time and while I was looking for those properties I was actually looking to buy long term investments sort of just a as a passive deal and have my hands off.

As it was in those different markets I was renting short term rentals Airbnb is and I noticed something very interesting and that is the amount that I was pain per night to stay in 1 of those rentals was almost the amount that I was charging an inexpensive California per night however the the price of those properties I was raining or a fraction of the cost of the California properties maybe even 25 percent so I realize that across the nation across the world for that matter there are places that demand way higher rents and it isn’t necessarily dependent on the property price so I owned by search down from there I stop sort of looking for long term rentals and I started looking for smaller multi family properties in good areas that I thought that I could short term rent and I found a good 1 my first 1 that I’ve specifically purchased to do short term rentals was an 8 unit building it was a lot of work more work than it needed to be and I’ve learned a lot along the way there’s much easier ways to do that I’m looking forward to sharing that with you guys in future episodes but in a nutshell this was a very old property I renovated the heck out of it furnish it and it is operating very well high occupancies and I’m getting rates said 458 times the amount of the long term rand said I was getting so that really got me excited and then also allow me to scale quicker because I had more money coming in you know instead of buying 10 single family homes you know I basically had 1 unit that was generating you know almost as much cash flow so I didn’t need as many properties to make them out of cash flows going for and I continue down that path and I’ve since bought you know several dozen properties.

But you know along the way I it wasn’t a super quick saying starting out real estate you know usually it takes it takes quite a while as I was growing you know I I got formally educated also I got a degree in international business and Later got an MBA and I have to say that the value I got from that sadly I really haven’t gotten any value I’ve always sort of worked myself independently you know as a as a broker or a I work for software company for awhile and sales and I’ve gotten most all of my value through seminars through friends through books and through podcasts like these so I’m really excited to be sharing with everyone going forward I want to give you everything I’ve learned you know my team and I have managed over 10000 guests now with my short term rental properties and I have learned a ton I’ve used tons of different systems I’ve tried different softwares different property types and sizes and furnishing and I have so much to share so really excited that you guys are here I’m looking for to bring this value and I guess lastly I gotta put this out here but the main point behind all of this is to become financially free you know I became financially free my twenties I’ve traveled the 70 H. countries now and hundreds of cities I couldn’t have done that without the passive income I’ve created through real estate and especially the passive income I’ve created in the last 5 years through short term rentals so stay tuned with me really looking forward to sharing everything I’ve learned until next time.

Want to get on the fast track to financial freedom through short term rentals little search of the property. You want to make sure that you acquired the right.

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