Today we are going to talk about how it is possible to start an Airbnb business without owning any house or property, using the method introduced by Airbnb Millionaire Chi Ta.
You might be thinking that in order to start renting out an Airbnb room or unit you need to already be an owner of a real estate property. But this is not always the case, as you’ll see, there is a way to do this without owning a property and I will show you how in this post.
There are several steps to take:

Airbnb rental property

Step #1:

Look for areas with high demand for Airbnb. Then use Airdna.co to see how much other hosts in the area are making. And look for similar properties in the area available for rent using Kijiji, Facebook marketplace, etc.

Step #2:

Look for properties that could make around $2k in profit each month.
For example:
Average price per night: $400
Occupancy rate: 16 days
Gross rent: $6,400
Utilities: $450/month
Cleaning: $950/month
And if rent is $3k then you are left with $2k in profit each month!

Step #3:

Once you have found the property that meets the criteria of $2k profit per month, you could then contact the landlords and ask if you could use their properties for Airbnb.
If you get their permission, then you could rent their properties and list them on Airbnb.

Step #4:

Furnish the property and make it extremely attractive to make it stand out on Airbnb.
If the furniture costs around $13k,
Rent: $3k,
Security deposit: $4k,
Total would be $20k.
So for $20k you could have an asset that could make $2k profit per month! That’s like 20% per month or 120% per year.

What Chi Ta Did:

He acquired 30 properties in 9 months using this process. He identifies as an Airbnb millionaire using the formula outlined.

In comparison to traditional real estate investing, where $100k spent to set up one property could make a couple hundred dollars of monthly income. A $100k spent on this new process could be used to set up 5 properties that could make $2k in monthly profit each.

Which one do you think is better? Do you think this new process of renting out Airbnb properties without owning them is disruptive? Or is it too hard to implement?
Credit on this method is given to Chi Ta who talks more about it on Instagram @itschitabnb

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