{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"","title":"EP200: A Serial Airbnb Entrepreneur from Lafayette","description":"There are a number of different ways to take advantage of the Airbnb platform, from listing a room in your own home to re-leasing a rented apartment. You might choose to co-host with a property owner or rent out your entire home while you are away. Some creative hosts even convert unused spaces, turning a shed in the backyard into a tiny home or transforming an attic into a studio apartment. Toby Doré is doing all of this and more, using every Airbnb model that’s out there to generate income through the platform.
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\nToby has been hosting on Airbnb in Lafayette, Louisiana, since March of 2013, and he has a whopping 1,776 reviews! Toby is also a full-time university professor in athletic training, sports medicine and sports psychology. He loves to travel, road-tripping across the US and visiting more than 40 countries in Europe, Central America, and South America.
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\nToby is also a serial Airbnb entrepreneur who utilizes every model: re-leasing, co-hosting and listing his Lafayette home on the platform. He has his own website, Cajun Hostel, as well as a travel blog. Today on the podcast, he shares how an 8-week road trip inspired his Airbnb journey. He offers his take on the pros and cons of each model, explaining which has been the most lucrative and extending his advice around establishing contracts between co-hosts. Listen in and learn how Toby outsources much of his Airbnb business while he works full-time and travels the world!
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\nTopics Covered
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\nWhat Led Toby to Airbnb
\n•\tRead about minimalism in The Joy of Less
\n•\tPlanned 8-week road trip across US
\n•\tCouple met through music promotion suggested Airbnb
\n•\tUsed platform during trip
\n•\tListed 3-bedroom home while traveling
\n•\tAirbnb profits paid for rental car, gas
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\nThe pros and cons of renting his own home
\n•\tMost profitable of business models
\n•\tIncome pays mortgage, utilities
\n•\tProfits help pay for international travel
\n•\tTurned storage shed into tiny house
\n•\tConverted attic to private studio
\n•\tAlways booked, no place for him to stay
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\nThe re-leasing model
\n•\tRented affordable, small apartment in downtown Lafayette
\n•\tLists studio on Airbnb four months of year while traveling for work
\n•\tRented four other houses, but gave up as popularity of hosting increased
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\nThe co-hosting model
\n•\tNeighbor tired of renters ‘messing up house’
\n•\tAsked Toby to manage as Airbnb
\n•\tSplit profit after expenses paid (utilities, internet, amenities)
\n•\tImplementing Airbnb co-hosting platform complicated things
\n•\tToby suggests contract defining responsibilities around expenses
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\nTricks Toby learned from using Airbnb as a guest
\n•\tKeycode locks on properties
\n•\tAutomation (i.e.: code sent upon confirmation of booking)
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\nHow Toby outsources much of his Airbnb enterprise
\n•\tBilingual manager handles bookings, reviews
\n•\tSister-in-law helps with cleaning
\n•\tSecond cleaner with 17 years of experience
\n•\tHires university interns in business, hospitality management
\n•\tWorldpackers get dorm room in exchange for social media marketing work
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\nToby’s Airbnb profits
\n•\tReceives flat fee for managing upscale house in New Orleans (about 30% of profits)
\n•\t80/20 split with next-door neighbor
\n•\tMost rental management companies receive 30-35%
\n•\tIncome from home he owns pays mortgage, utilities + 20% profit
\n•\tHome improvement loans on tiny home, studio paid off in two years
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\nConnect with Toby
\nCajun Hostel
\nToby’s Airbnb Profile
\nToby’s Travel Blog
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\nResources
\nThe Joy of Less: A Minimalist Guide to Declutter, Organize, and Simplify by Francine Jay
\nVRBO
\nFlipKey
\nWorldpackers
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","author_name":"Freewyld Foundry"}