« Side Hustle School

#1200 - B&B Owner Prefers Property Management Profits

2020-04-14

After this listener quickly achieves success with her eco-friendly B&B, she makes a booking with a six-figure side hustle managing other rentals.

 

Side Hustle School features a new episode EVERY DAY, featuring detailed case studies of people who earn extra money without quitting their job. This year, the show includes free guided lessons and listener Q&A several days each week.

 

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Show notes: SideHustleSchool.com

Twitter: @chrisguillebeau

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This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
Here's a new podcast, I'm excited to share a few. It has produced by the team behind revisionist history that would be Malcolm Gladwell. The new series is called, go and see six parts. It's all about curiosity and unconventional thinking. It stems from the belief that if you experience something yourself, you have a better understanding of people and how to create something for them. So in a serious you can learn how a japanese t ceremony influence the engineering of a car window, just as one example follow Gladwell on his journey or, like to listen visit. Lexus die coms. Last curiosity for more stories like these European Bee economy presents opportunities, lie, people have a home or another space that could work well for short term lodgers, but here's the key point: They dont want to manage it so don't always know how to market it. We talked about this a couple different I'm from different angles. In today's featured story, this person quickly find success with your own
go friendly urban B and she makes a booking with aside, I saw that helps. Others do the same, also guess wide hideous episode at twelve hundred twelve hundred episodes. Oh my gosh, thank you. So much for allowing sandyseal school to continue endure to reach a global community of amazing people who are all looking like differently, I'm just trying to do something for themselves in a time of great uncertainty, so I am so think, be able to make this programme. I'm not gonna go on and on about it. I just want you to know every day I m grateful, so thank you so much to those who are listening, You have left a little review for us in Apple pie casts and any who has share the programme with your friends definite helps a lot. So thank you, and today, story, Araby and be owner prefers property management. Profits is coming right. Up stated, Sandyseal School
brought to you by fibre. Where do you go to find on demand talent? How much will it cost and how can you be certain they'll deliver, while finding the right freelancer can be time consuming, frustrating an expensive, but fibres platform makes it simple. Easy, I'm a customer of fibre up and using them for years. So I was glad to see that they are now our sponsor a definite recommend. You check out fibre dot com today and receive timber sent off your first order by using the code hustle It's so easy find all the digital services you need in one place at F, ivy e, r, r dot com code, hustle. Again, that's fibre dot com with two hours code, hustle Amy Gilbert was fortunate to achieve her first sight, hustle success before she turned thirty and twenty eleven she opened her own b and be called the giving tree was a hit from the beginning,
One reason why you're awesome OS battalion target market. She provided a full Gore may breakfast to begin an vegetarian foodstuffs. All her desk received helping greens movies begin breakfast burritos in gluten free pancakes, I'm getting hungry just telling story, but rather keep going on top of that. She also offered private yoga lessons for any guess who wanted to giving tree was a real garden of Eden and without any snakes, All that meant that an aim first year of running she was booked solid, constant flow of visitors was great, but it highlighted a big problem with her business model. It simply wouldn't scale and for every person coming forever Asian Aimee had to hang out at home for her own station.
Was really either a vacation or station right, because she was working to simplify Amy scaled back on the number of guests razor prices and stopped offering such an elaborate breakfast tourist, honest, the to guess, kept looking both through her own website and Airbus. B or she had begun to list the property it was. Then she realized it wasn't only the extra that progress in it was also the vibe cheap manage to build Amy had a neck, a knack for building a great get away for her guests holiday. She decided to switch destiny since, after five years running her being be slash urban, be she began offering skills and talent other aspiring owners should teach them how to create the perfect lodging and if they wanted manage the whole process for them. She called herself the trinity host. Instead of going all out with a new website, Amy chose to use that Will she had had her disposal, she already had a site for the giving tree, so she simply added a pay
offering her air being be management service. She also had some business cards printed. Did she posted in local grocery stores in cafes sure enough? She soon went from gas bookings to client bookings. She received her first request from the owner of a luxury rural property and are local area. The honors first question was: is my place? It good fit in such a rural location. Four me it was a no brainer. The place was perfect for be the property could accommodate up to six Guess, and would bring in a lot of money if listed well, she quickly made a deal with a simple array: Amy would handle the listing, based on her expert knowledge, following that, you take care of the cleaning in turnover after each guest to make sure things were spick and span in time for the next one exchange. Received twenty five percent. The total revenue generated. Since this was a large property. There is a real opportunity to make real money.
The first few reservations went well and both Amy and her clients were extremely happy soon. The referrals kicked him. Over the next year through a combination of word of mouth that page on our website and adds, and local stores, Amy found a few more properties to manage with additional properties. She also expanded her services at first. She offered to arrange cleaners for the properties and makes It was tidy before the next guessed, but she soon realized. Many owners wanted completely hands off Araby and management, so she began offering a service to handle the messaging. Reservations as well. She even built a one off service people that might just one help giving their listing a boost all with the goal of up selling them later. If it was a good fit. One mistake she fails to make those early clients is that she didn't live. Into contracts. Adding some level of formality to client relationships can be a good thing once you have some traction for her. This resulted in
inclines without warning and then struggling to replace them. However, none about his doctor from continuing to grow the business she now advertisers and the local paper spend a little money on Google at all. These efforts have brought her a total Levin European Bee rentals that she manages, which in total, over a hundred thousand dollars in these last year. Of course, there are some expenses commercial liability, insurance and paying for a bookkeeper, but it's a high margin, operation. By any certainly see more property management in our future. She isn't sleeping in and missing new ideas. She plans to create proper, for Airbus and be hours all around the world to sell online things like a welcome packages and upscale amenities.
To go from urban, be honoured to European Bee manager to Urban, be business. Tycoon is no small feet, but Amy has not at all without pressing snooze So in the space of just about ten years area and be has become this hospitality juggernaut with something like a fifty million users in billions hours in revenue, and so with such a huge presents. Many businesses have sprung up around european, be to help owners and guests make best use of the platform. So here's What someone who goes, as I said from Serbia and the honor to manager and now trying to think even bigger answer. People around the world peace welcome packages in upscale amenities offer. When you start something you have no idea what the final products gonna be. That's white so important to start, because Amy in this situation story would never become that European Bee Business tycoon. If she had.
Started running out her place in the first place, and if you don't have access to a home and you can run out mother still this European Bee economy. What other opportunities might there be either forecasts or owners or for anybody else, is participating in the system, one or another so think about that alleviate that today, inspiration is good but inspiration. What action is better today shone out. Are it's out of school dot com, slash, twelve hundred, that is episode. Five hundred. That's right! Twelve hundred! Oh my gosh! Thank you! So much again, I'm not sure about. Next twelve hundred, but I look forward to bring you the next batch of stories, questions Throwback, Thursday episodes, classroom episodes and, more you sure you subscribe. It is completely free. My name is critical about this is cycles for school
From the onward projects.
Transcript generated on 2020-04-22.