Are Short-Term AirBNB Rentals Worth It? Find Out with James Svetec of BNB Inner Circle

We have James Svetec of BNB Inner Circle with us today. In this episode, he tells a crazy story about a party thrown at his first management job, how he cleaned the mess and fixed anything that needs to get done. And how from all that hard work and initiative, he landed a good job opportunity!

Starting as a watch-selling entrepreneur, he shares the incredible journey that led him to his passion and career today–an AirBNB manager and real estate investor!

Watch on to learn more about AirBNB management and how James developed his investing knowledge and experience while finding out what life truly is to him.

How to reach James Svetec:

Website: https://bnbinnercircle.com/
Instagram:https://www.instagram.com/jamessvetec/?hl=en
Youtube:https://www.youtube.com/c/JamesSvetecProductions
Facebook: https://www.facebook.com/JamesSvetecBNB/

Quotes:

20:46 - “You’re looking at it, and it’s a diamond. And the property owners are looking at it. And they're like ‘it's a rock.”

24:17 - “If you don’t have neighbors to complain, you don’t have neighbors to disturb.”

26:28 - “I’d always wanted to buy the properties but I just didn't know how to actually invest in real estate.”

41:35 - “I wanna be able to do what I want, with the people I want to do it with when I want to do it.”

41:41 “I think that freedom without responsibility ends up just being chaos.”

45:27 “ Where's the fulfillment? It's just all short term.”

48:31 “What I discovered is that life's not a sprint or a marathon. It’s not even a race”

48:36 “In a race there's an end goal and you get there and you win. Life doesn’t have that.”

Concepts:

50:59 - James is the first person on the podcast to ever include personal life into his vision for the months ahead!

20:46 - James proves that the saying “One man's junk is another man’s treasure” and puts it in real estate form!

1:13 - James actually had a client throw a crazy party at an AirBNB and to prepare for new coming customers, James and his friends cleaned up the mess themselves! That's commitment!

41:26 - James feels that without work that there was no real fulfillment in his life.

31:39 - James is currently working in Toronto, Canada but is considering expanding his business into the US.

31:17 - James has a training program to help people know how to manage other people’s properties.

14:32 - In the beginning, James and his partner went and convinced people to let them do their short-term rental management for them and it worked very well!

9:15 - James started a watch company as an entrepreneur and when he wasn’t doing so well a friend told him about AirBNB management and he went for it.

Time Stamps:

0:00-0:40 - Introduction
0:41-9:11 - Craziest story or Real Estate Experience?
9:12-12:00 - What got you into Real Estate?
12:01-14:28 - How does AirBNB property management work?
14:29-15:26 - What offer proposition worked best for you?
15:27-16:43 - Do you have to have a license to do short term rental?
16:44-20:09 - Have you thought of albatross?
20:10-23:13 - What is the difference between a unicorn property and an average property?
23:14-25:07 - What are important things to look for in a house that will become an AirBNB?
25:08-25:53 - What are Geodesic Domes?
25:54-28:45 - What were some of the challenges you faced and how did you overcome them?
28:46-30:50 - What are the different roles you and your partner have?
30:51-32:20 - Do you just do this in Toronto?
32:21-35:56 - Why did you choose to only manage your properties?
35:57-38:08 - What is your teaching method? What are people getting?
38:09-40:58 - Do you have a variety of paths or a personalized path for each client?
40:59-43:44 - If you had enough money to last you 100 life times, what would you do?
43:45-47:03 - What was your self fulfillment journey like?
47:04-50:58 - If you were to start your journey all over again, what would you focus on?
50:59-52:30 - What is your vision for the next 12 months?
52:31-53:20 - How to reach James Svetec!
53:22-53:52 - ENDING

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