Season 2 Episode 13
The Hot Seat with Julie George
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Today’s interview is a little different as we’re interviewing Julie George who is considered to be a disruptor in the industry as she is an expert in setting up and running an Airbnb business.
As of recording this interview Julie has released a book called Million Dollar Host which I will link to in the show notes and in our interview we discuss how Julie invested $30,000 to get a 5 million dollar return in 2 years.
Anyway, some of the key highlights from the interview include, Julie’s first Airbnb experience where she took a one-bedroom unit in Cairns that was renting for $240p/w to $600p/w consistently through Airbnb, Julie’s first client and how she was able to use Airbnb to create a positively geared property, The realistic risk of whether Airbnb will actually work for an investor and Julie’s formula to make sure the property can at least cover loan repayments, How future competitors like Google are creating platforms to compete with Airbnb and how this will impact their offering AND How property managers are using Airbnb as a ‘Part’ of the big picture of servicing their client and developing stronger long term relationship.
Julie’s interview was very funny and educational at the same time. Her journey is fantastic to listen to and if you are considering adding Airbnb into the range of services you offer within your office then you really do have to listen to this interview. This is one of the best interviews we have had on The Hot Seat.
Show Notes
3:12 – Julie’s journey from a one-bedroom unit in Cairns that was renting for $240p/w to $600p/w consistently through Airbnb
4:02 – Julie’s first client and how she was able to use Airbnb to create a positively geared property
5:28 – The initial resistance of hotels and how Julie started to teach them to use Airbnb for their own bookings
6:07 – How an onsite manager went from losing property owners to a Superhost on Airbnb and in turn increases the value of the management rights
7:59 – The realistic risk of whether Airbnb will actually work for a investor and Julie’s formula to make sure the property can at least cover loan repayments
8:50 – The key important features of a great Airbnb and critical elements of a successful Airbnb
11:39 – Why the hospitality industry (like the taxi industry) need to lift their standards to continue and flourish
12:56 – How Property Managers are actually embracing Airbnb and how much it has changed in the last 12 months here agencies are using Airbnb to actually grow their rent roll
15:19 – How future competitors like Google are creating platforms to compete with Airbnb and how this will impact their offering
17:24 – How property managers are using Airbnb as a ‘Part’ of the big picture of servicing their client and developing stronger long term relationship
20:23 – What research you should complete if you are thinking of setting up Airbnb as a part of your business and how an initial investment of $30,000 has resulted in a 5 Million dollar return in 2 years
22:00 – Julie’s hot seat question
25:02 – Julie’s shameless plug and where you can buy ‘Million Dollar Host’
