Bailey Kramer is an Airbnb co-host. He manages listings and handles all the operations on behalf of other Airbnb owners in exchange for 20% of gross revenue.
He’s got 17 properties under management, and he’s only 23.
How’d he get his start?
By networking in Facebook Groups, on BiggerPockets, and just shooting straight with people – “I’m trying to get my first Airbnb” – and seeing how he could add value to what they were doing.
Eventually someone threw him a bone.
Read on for my Bailey Kramer review.
“I spent probably a year just networking and learning,” Bailey recalls.
“And then finally, just surrounded myself with people who were doing it, bought like six properties in a six-month period my junior year of college – two fix and flips, two long-term rentals, two Airbnbs,” he continues.
“So I was getting some money coming in; it wasn’t crazy. I couldn’t quite live off it just yet.”
“Then I started my co-hosting business. And this first property we had, it was massive – this huge lake house. We rented it out for $2,000 a day.”
Once Bailey started raking in ample cash from co-hosting, he realized it was time to go all in.
He knew that if he could just concentrate all his energy on it, he’d absolutely dominate.
Peace out, college.
Now fast forward to today.
He’s got two cribs he co-hosts in North Carolina, two in Indiana, one in Wisconsin, and then 12 or so in Illinois.
“I ended up hiring two people and they basically run my business for me,” Bailey says.
“They handle all the day-to-day. The only thing that I’m doing currently is pricing. Other than that, they run the show,” he reports.
Wondering if co-hosting is for you?
Bailey lays out the perks.
- It’s budget-friendly. Aside from setting up your LLC, expenses are minimal.
- It’s not a time suck. You’ll spend just an hour or two per week per property.
- You can manage this business from practically anywhere. Bailey’s never even visited most of his properties, relying instead on people and tech.
- It’s highly scalable. You’re not weighed down by the need to purchase and stage each Airbnb yourself.
Is now a good time to get into Airbnb cohosting though?
Bailey may be biased but he reckons the timing couldn’t be better.
Reason being, the demand for quality co-hosts is off the charts. In the U.S. alone, a whopping two million Airbnb listings exist.
Loads of those hosts are in dire need of backup – they’re short on systems, strategies, and the customer service chops to keep their pads booked and guests grinning.
So yeah, this opportunity’s sizzling like stir fry in a wok.
“Freedom is entirely achievable through co-hosting,” Bailey promises. “I’m talking about no more golden handcuffs from your 9-5 job.”
“You can expect to earn $1,000 per month from each property that you co-host,” he continues.
“So now ask yourself: how many properties do you need to be co-hosting in order to replace your income from your day job?”
“Maybe it’s three. Maybe it’s five. Maybe it’s 10 properties.”
“Which is insane because that’s not hard to do. And then you can work when and where you want and never have to answer to a boss,” he pitches.
Also, consider the potential in co-hosting mid-term rentals.
You’ve got swarms of traveling nurses, doctors, contractors, and people grappling with home disasters like fires or floods – all in need of a roof over their heads for a month or more.
You can team up with landlords and help them convert their properties into mid-term rentals while you steer the ship.
Need some guidance?
Bailey’s got an STR Mastery Course and Mentoring Program for you to scope out.
Price tag? TBD.
Alternative? Tap below.