No Risk Airbnb with Jorge Contreras

2020-08-27

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Learn about a real estate investment that has survived COVID 19’s harsh effects and still makes cash flow margins every single month, find out investment strategies that will cost you the least amount of risk, as well as money, and discover about the marketing strategies he employed to get his units filled with renters even amidst the pandemic. Resources/Links https://www.therealsystem.com/get-access

Resources/Links

https://www.therealsystem.com/get-access

Summary:

Jorge Contreras is a real estate investor and a coach with 15 Airbnb that has a 6+ figure annual cash flow.

In this episode, Jorge shares how he has pivoted in his Airbnb deals during these weird times without running out of cash flow every month. He also shares about his Airbnb strategy which gives you zero risk and costs nothing if a deal goes sideways.

Topics Covered:

01:03 – How has the pandemic affected Airbnb market

05:19 – Three strategies to go with Airbnb

06:58 – Which strategies does he recommend for most people

07:52 – Why does he not recommend the leasing and subleasing strategy

09:49 – Describing a scenario when a subleasing deal has gone bad

11:37 – Some Airbnb tips from Jorge

14:05 – Is a longer-term rental still permissible after laws prohibiting Airbnb takes place

Key Takeaways:

“How do we make adjustments now to bring more eyes to our short–term rental portfolio? And so, we started marketing our properties on websites that market to corporate housing, and nurses who are traveling for work for COVID to work at hospitals.” – Jorge Contreras

“We started bringing down the pricing where we started to attract locals who were living, say near downtown LA in tiny little apartment spaces where they had no social distancing and they were going down the elevator or something and they wanted to rent a single-family home with some space.” – Jorge Contreras

“Between the staycation, there’s the corporate housing and the nurses, we actually made less money, a lot less money. But we were still making some small profit cash flow margins every single month, even during the worst month of March and April.” – Jorge Contreras

“I believe that co-hosting is a great way to get your feet wet. You also learn management, marketing, customer service. It’s a great way for people that want to get into real estate investing, but don’t have a ton of money.” – Jorge Contreras

“As an investor, we always look at how can I make the most amount of money with the least amount of risk and the least amount of money and the best I did is co-hosting.” – Jorge Contreras

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