How Airbnb Changed My Life At 19 Years Old
By Inayah McMillan
Summary
Topics Covered
- Part 1
- Part 2
- Part 3
- Part 4
- Part 5
Full Transcript
this is how Airbnb changed my life I got started in Airbnb was through rental Arbitrage rental Arbitrage is where you rent a home or an apartment from a landlord and then with their approval
you can actually list that home or apartment on Airbnb when I first started Airbnb I didn't have that much money I was kind of pouring all the money that I had into all these different entrepreneurial things that I was trying so even when I was doing Drop Shipping
literally all the money that I had I was trying to put them into the Facebook ads to market the store and then when it didn't work I had to keep finding other ways so when Airbnb started I decided to use my personal credit and then a little
bit of savings that I had left to go all in and overall I think the startup was anywhere between eight to twelve thousand dollars which I know is a lot of money but using credit it wasn't money that I had saved and I was willing
to take that risk because I figured what's going to happen if it does work instead of focusing on what's going to happen if it doesn't work for the year that Airbnb made over fifty thousand dollars so in the end it was definitely
worth it learning from that one Airbnb I was able to scale to over a 11 airbnbs in only a year and a half and go from fifty thousand dollars in a year to almost four hundred thousand dollars in
a year so it's been a crazy journey I think Airbnb came naturally for me because I'm a pretty creative person I love doing things Hands-On so I love interior design I love building things I love putting things together and seeing
a space come alive so when I started Airbnb I was so excited to be able to put my touch on something after I realized that one Airbnb could make me more than my full-time job I realize
this is something that I should really start scaling and figure out how to get more of them so we dove into the research side of like how to create this business successfully so that we can
create a long-term profitable business so first we created an LLC for the business which was just taking us from being people who were just trying to do Airbnb to actually being a company so we
created a short-term rental company for our Airbnb business and then we decided to create a website for that company so we made a private booking website that talked about who we were as a company what we did and what we offered that way
guests could book on our website but also so that we could use this website to reach out to landlords I think we were able to scale so fast at such a young age was partly because of that website because it really showed
professionalism when we were reaching out to landlords so after creating that website we started reaching out to a whole bunch of different property managers in St Louis we started reaching out to Homes apartment buildings really
anything that we saw that was on Zillow that looked pleasing to us in July I made six thousand dollars that month and then fast forward to when I got my second unit in November I made like eleven thousand dollars in a month and I
kept realizing if I continue scaling that number is going to continue to increase I remember March was the first month that I was like I'm making a lot of money from Airbnb I had a thirty thousand dollar month that might have
been I think that was five airbnbs that got me to a thirty thousand dollar month and then I decided to go all in and get a few more so then in March I got three more and the following month I made
fifty thousand dollars in Airbnb and then I got two more and and then the next month I made sixty thousand dollars in Airbnb so as I continued scaling I just kept seeing the number grow like in
real life in real time with each new Airbnb that I got the numbers just continued to multiply after my first second or even third Airbnb I definitely could have just been like okay this is enough money like I'm comfortable I'm
making a lot of money especially for my age but I wanted more I wanted more for myself I wanted more for my family and just for my future so I decided to take the money that I was making and just keep putting it back into the business
to scale to more and more airbnbs I remember when I first started Airbnb every day when I was waking up I was looking at my phone checking my bills seeing what I had to pay in rent what I had to pay in utilities what I had in
upcoming payments and I was stressed I was so stressed out and I was like I have to make this work so then when Airbnb really started working for me and I didn't have to worry about some of those financial stresses and those
things that felt like such a huge burden it was it was life-changing I realized that buying some of those material things wasn't going to get me to my end goal it was only going to give me moment Terry gratification and then after that
moment's gone you kind of look at what you bought and you're like why did I even buy this like do I even like it that much so I decided I'm not going to waste my money on those things instead I'm just going to take that money and try to build more with it after I had my
first 30 000 a month I found this Airbnb Facebook group and I got into it and I was kind of just like sharing for inspiration and I noticed that I got so many comments under my one post where I was talking about how much I made that
month and so many people were commenting and saying can you help me you know can you DM me can you please private message me I need your help can you teach me how you made this much from Airbnb and a lot of people were starting to wonder how I
was able to make that much at such a young age and I wanted to know what I did to have that success with Airbnb I remember there was like a hundred new Facebook messages I didn't even use Facebook and there were so many people
asking me for help in my Facebook messages and I was spending so long every single day responding to them answering all their questions trying to help them and then I realized why don't I just create something that I can offer to them so I can help more people at one
instead of trying to answer 100 DMS per day so then I started doing like small one-on-one mentorships for a couple months and then the demand for help got even bigger and more and more people
wanted to learn how I started an actual coaching business where I created multiple offers I created a course I created done for you offers done with you offers even high ticket mentorships
to start offering more help to more people and then eventually I even started offering a free class just so that I could actually reach everyone and help anyone who was interested in Airbnb if you guys are interested in learning a
little bit more about Airbnb or if you're interested in becoming an Airbnb host I'll drop the link in the description so you can sign up for my free live class Airbnb gave me a lot of time freedom and a lot of Financial
Freedom and then once I started coaching that only multiplied the Financial Freedom from Airbnb and from coaching has really allowed me to spend my time doing what I want after my brother passed away that was one of the biggest
things that just kept going through my mind is like how can I spend my time time doing what I want before I pass away how can I spend my time helping others you know caring for my family
spending time with my family before either myself or they are gone it really gave me that time to spend doing what I wanted to how I wanted to and with the people that I wanted to at this point in my life I really don't have any
limitations because I put so many automations in place so in my Airbnb business I have almost everything automated from guest check-in to messaging to everything in between in my coaching business I've been able to hire
on so much of my family so they can work with me and have more time Freedom themselves but then also give me a little bit more flexibility so that I can help a lot of people without then again trading so much of my time helping
them a lot of people are scared to make a lot of money because I think naturally it's been like told to society that when you have more money you've heard More Money More Problems or that money is like evil but I think what I've learned
is that money only amplifies who you are so if you're a kind person when you have money you're able to be more kind you're able to do more for others but I don't really think that it's More Money More
Problems or that money is evil I think you yourself just have to decide what you want to do with your money and then I think a lot of people also think when you have a lot of money you have no
problems but that's not the case at all either because with entrepreneurship there is still a level of responsibility it's actually an extreme level of responsibility if not more than just having a normal job because you've now
created something that you have to continue to nourish and build so that it can actually Thrive and continue growing and make you long-term money rather than when you're just working you just have
to do what someone's telling you to do another thing I've learned is that money only solves money problem so I think at least for me when I used to see people with a lot of money I used to think like
what what is their life like they must be stress-free like no problems at all but what I've learned is that money really only solves money problems anything that you're struggling with past money whether that's personal if
it's emotional physical that's all still going to be there if even if you make a lot of money in growing financially you also have to focus on growing yourself as a person you have to focus on
physical growth emotional growth mental growth and grow everything so that when you have a lot of money you've also built up the person that you want to be to do good with that money and to enjoy
that money and not have so many problems or so many things on the back end taking away from the freedom that that money has brought you creating the life that you want and creating Financial Freedom
is possible for you it doesn't matter what ethnicity race religion age it doesn't matter who you are it's possible for you if you create the right mindset
for it and then you put the intentional actions behind that mindset and actually do it naturally everyone has their own vision for what success looks like you know some people want a big house some people want a farm some people want to
live on an island some people want a private jet but no matter what your version of success is or no matter what you want for your life just know that you can never think too big right what I
always tell like my brother those are my sisters or people that are asking for advice I tell them if you could have a genie stand in front of you right now and tell you tell me exactly what you want paint the picture of the exact life
that you want every single detail and I'll make it come true what would you put in all of those details what would be the exact life that you draw out that's how you actually have to come at the goals that you want you have to
think what do I actually want and then go for it for me Airbnb is what changed my life Airbnb is the Avenue that I took that allowed me to create Financial
Freedom for myself it allowed me to create time Freedom Airbnb is what worked and maybe Airbnb isn't for you maybe Airbnb is for you whatever your path is and whatever your journey is just go for it and if you are interested
in Airbnb and you're interested in seeing if Airbnb could also create income for you or change your life or create Financial Freedom for you then just know that that is an Avenue that you can take and it is an Avenue that
works for a lot of people even if it doesn't work the first time or the second time don't doubt yourself don't give up maybe that business isn't for you or maybe you're just approaching it
wrong try to problem solve instead of giving up and just continue at it
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