- Lazaro’s Instagram https://www.instagram.com/brickellcigars
- 4-hour work week and Richest Man in Babylon
- Turn for cars with AirBnb https://turo.com/blog/community/unlocking-success-as-a-dual-airbnb-and-turo-host
- Hospitable software https://hospitable.com/
- Price Labs for adjusting rates https://hello.pricelabs.co/dynamic-pricing/
- Task Rabbit for furniture https://www.taskrabbit.com/services/furniture-assembly
Show notes for Short Term Rental Arbitrage Model with Lazaro Vento!
Lazaro grew up in Miami and worked for Roles Royce and BMW
He came up with a very interesting idea of renting a house with guest house and then AirBnB’ing the guest house. And then from there, actually renting and AirBnB’ing both units.
Low season occupancy is 70%
High season occupancy is 90+%
Low end, $900 to 1200 a door is what Lazaro is looking for.
Why doesn’t the landlord do the short term business themselves? It’s just not in the landlords business model.
Some buildings don’t allow you to short term rent a rental, so you’ll have to partner with the owner.
The best type of landlord – It depends where you are. Try to find someone that has quite a few rentals and get to know them.
My biggest deal was a 52 unit lease in one building.
Driving for dollars is a great way to find these properties, or you need to recruit a few real estate agents. Look for people that have signs on their house/building.
It costs $6-7k to furnish most apartments.
Turo for AirBnB is a great business to blend together. In the AirBnB message pipeline there is a link to Turo to rent a car.
Increase pricing based on events that are coming to the area. Concerts, Tony Robbins, etc.
Regulations – There have been a few, including the hotels coming after the AirBnB hosts. In the end it had to do with taxes. Back in the day there wasn’t any taxes being collected.
He went into Tampa and found that it’s easier than the Miami business because it’s more like corporate housing.
AirBnB is looking at the long term pricing model. AirBnB bought Zeus.
The thing that most people don’t do is… take action, or they don’t tell the landlord what they are doing. Use the free tools and look at your market to see what’s hot.
Always start in your back yard.
Capital costs to get started could be first months rent plus furnishing. So, like $8k.
You must be on top of your holding costs. Make sure you furnish very quickly!
Task Rabbit is a place that builds furniture for you.