# Entrepreneur of the Week # Post 2 Beginners, strap on! Mandelanist to a hotelier - and also: what should be taken into account…
Beginner, Get Back!
A real estate agent for a hotelier - and also: what should be taken into account a moment before setting off?
It took me a few guests to realize that the title I thought defined me - real estate, is no longer really relevant. I got a new title - hotelier. Host, so wholeheartedly.I do not know any other way ??
The more I dived into familiarity with the Airbnb platform, as the world’s largest apartment rental site, the numbers magnetized me! More than 7 million famous properties on the platform, over 150 million registered users, 650 hosts worldwide and the most amazing figure - every night in the world over 2 million people choose to stay on the properties advertised through the platform. The world's largest hotel!
Exciting to you too? So how do you know if your property is suitable? Let’s start with 2 words: market research.
A site I love and use a lot www.tyana.co. The site provides statistics on Airbnb's activity anywhere in the world, from supply and demand, prices, assets, revenue, competition, location, region and in short - everything!
The full service is free (relatively inexpensive) but also provides basic data for free - recommend a peek and impression.
I am enclosing a sample market survey that I have prepared - it will help you a lot to understand what exactly to look at, especially in the beginning. <<< Excel file to download >>>??
A few other things to consider when considering getting started -
1. The property area- Almost everything in your property is subject to change except for one critical thing - its location! Therefore, be sure to work in sought-after areas - "Prime Location", with high demand expected from tourists.
Not just a city or region is something that is important to look at in the context of a location, but in fact everything that is around - proximity to the sea, public transport, places of entertainment - the more the property is surrounded by such elements it will be considered more attractive.
2. potential- Compare the average long-term rent in the area with the price estimate for an overnight stay in the property and calculate the potential. Most often - short-term rent should yield 3 times gross (and 2 times net) than long-term rent. If the calculation you made led you to a lower result - you should consider whether the property is indeed suitable.
3. Business Model- There are a number of models for the work and of course the potential and nature of the work varies between them. There are others who own the apartment, there are hosts who rent a long-term property and rent it out for the short term, and there are hosts who manage properties for the owner in exchange for a percentage of the income.
I really like working in a model of management or ownership because the risk is relatively low. Working in a rental model will usually expose you to a higher risk, but will also leave you more money in your pocket. Anyone according to his considerations - I'd love to expand on this topic, feel free to ask me!
4. Return to the beginning of the post - there is a fundamental difference between Real Estate Host And it is important to internalize this before setting out. Those who prefer the "live and forget" method - it is better for them to stay in the long-term rental area or take someone to manage the property for them in the short term. Those who are ready for the experience, to meet people from all over the world, to provide service and not just a roof - this is an extraordinary opportunity to earn great money while enjoying the road ??
About a year and a half ago, I was approached by a client who was considering posting her property on Airbnb. Of course my first question was - where is the property? Admittedly, the answer surprised me and made me wonder for a moment, but I recovered and replied "Petah Tikva, interesting .. let's check". We immediately started with an in-depth market analysis, we made sure that the property is indeed in a relatively attractive area, we understood the revenue expectations and set off - the next day it already had an orderly and famous profile and property on Airbnb.
I'm glad to tell you that two weeks later the property diary was already full 3 months ahead at about $ 100 a night!
It's important to understand that no matter where in the world, the formula works, so it's important to stick to it.
So do not forget: market research, region, profit potential, business model, prepare to be a host - and you are quite ready to start…
Want to start hosting? www.airbnb.com/r/ezohar11
Of course, I would be happy to answer questions about this ??
See you here tomorrow with the most important tips for those who want to become an outstanding host, ensuring it's super lucrative!
Have A Nice Week,
Ally.
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