Quote from @Scott Schuhwerk:
Quote from @Mark Miles:
Quote from @Sean Bramble:
Quote from @Mark Miles:
Quote from @Patrick K.:
As a host my biggest fear when running an airbnb is some teens start a party. which is hard enough to prevent if all your listing is clustered in a city (you can hire someone to patrol during party hours). but his listings seem to spread out all over the place. he doesn't even have a management company and instead manages all of them himself.
how did he do it?
Not sure who Robuild is but I do the same thing thanks to an army of offshore assistants
https://www.biggerpockets.com/...
Hey @Mark Miles - I’ve seen some of your past posts about this and am really interested in offshore help. Question: can you give us a sense of what you pay for your virtual help relative to your gross revenue? Just trying to get a sense of it vs traditional property mgmt
I pay about 5 to 10% of my gross revenue for offshore virtual assistants. They literally handle everything, I do nothing. Way better than traditional property management which typically charges 20 to 40% of gross revenue and completely wipes out your profits.
Also better than managing everything myself. I happily give away 5 to 10% of gross revenue to my offshore assts to have a high earning business on total auto pilot, it is 99.99% passive income.
I know I’m gonna sound like a jerk when I say this, but in all honesty, the most amount of time I spend every month is transferring the profits from my business bank accounts into my personal bank account. Because of course I don’t give anyone else access to my bank accounts. I spend like an hour every month going into all my business bank accounts and transferring the profits to my personal accounts. But I usually have a good sports game on in the background so at least I can keep an eye on that while transferring money around.
As I’ve said before, my offshore assistants can:
- call someone to clear the road of snow leading up to your cabin
- call someone to remove a 50 year old tree that fell in your driveway last night and the guests can't depart.
- call someone to remove a snake from under the sofa
- call someone to remove the trash when it's piling up
- help guests find your cabin when it is 1am and they are completely lost
And much much more! They speak very good English and handle everything for me, I would highly recommend it as a method to try to make your STR business 99.99% passive
Mark, @Mark Miles do you use a specific offshore VA team/company or did you hire individually off sites like Upwork, bestonlinejobs, etc?
I don’t like working with offshore companies, I find that they tend to hire low quality people plus I am paying their management overhead. Plus they are constantly hiring and firing people that I need to retrain
I have hired everyone individually using those various websites that you mentioned. There were definitely some duds, I had to fire some along the way. But every time you fire someone you learn and improve your hiring process and now I am really good at finding good people and screening out the bad people.
I have even trained some of my offshore assistants to be skilled at interviewing new offshore assistants, so I don’t even have to get involved in hiring new assistants anymore 👍
