21 Jan [Passive Airbnb Case Study #1] Tony Do
I wanted to try something different with this blog post.
This blog post is a real case study of someone who successfully leveraged Passive Airbnb to build a passive income business on Airbnb. This is a case study of Tony Do.
Tony Do reached out a few weeks ago because he bought one of the landlord templates that I have on sale. He’s been consistently reading my blog posts for a few months now.
How Tony got started was quite interesting.
He went to a few different real estate conferences and found out one of his friends is making a killing on Airbnb.
What was really interesting about Tony’s case was that he didn’t purchase my premium e-course. Still, he was able to extract the information from this blog to build himself a profitable Airbnb business even in the slowest month of the year.
I’m really proud that Tony is able to put in the work and implement what he’s learned from Passive Airbnb. The most effective entrepreneur is able to take in just enough information to make the plunge. And Tony is one of them.
Let me introduce Tony a little bit:
Occupation: Engineer at a biotech firm
Location: The SF Bay Area
Gross Revenue from December 2018 (recorded on 12/19/2018): $3117
Tony is just like some of you guys who are reading this blog. Here are his results:
January 2019: ~$3000
Tony wanted to be his own boss and create a passive income stream for himself without quitting his day job. He shares many of the same core attributes of my successful students: curious, consistent, and driven.
Check out this short video of me interviewing Tony. It’s 6 minutes long and you can find the transcript below if you just want to read it.
I have to warn you that there’s a bit a background noise and I’d to apologize for that. I took this call at a local cafe shop (another perk of running a remote business)!
LINKS AND RESOURCES MENTIONED IN THIS VIDEO:
- Landlord Outreach Letter
- How to Negotiate to your Landlord
- How to Use Airdna for Airbnb Market Research
Just a note quick on the above mentioned helpful tips: you can get all of this + a more hands-on approach from my premium course.
Without further ado, here is Tony Do, our newest Passive Airbnb Entrepreneur.
Sam Zuo: 00:03 Hey, what’s up, Tony?
Tony Le Do: 00:04 How’s it going, man?
Sam Zuo: 00:06 Hey, it’s good to have you here. So your last name is Do, so your full name is Tony Do?
Tony Le Do: 00:12 Yeah, that’s my full name. Yeah, people call me Mr. Do.
Sam Zuo: 00:19 Hey, that’s a cool nickname.
Tony Le Do: 00:20 Yeah.
Sam Zuo: 00:21 So Tony, I’m glad to have you on here.
Tony Le Do: 00:24 Nice.
Sam Zuo: 00:24 I know that you’re in the Bay Area as well. Do you wanna just tell, maybe give a 10-second elevator pitch about what you’re currently doing and where you hope to say a year from now?
Tony Le Do: 00:34 Yeah. So I went to school for engineering. I just started working at this biotech as an engineer. And I guess my whole life I was naturally drawn to creating passive income and real estate. And I just fell upon Airbnb, and that’s how I got to here.
Sam Zuo: 00:57 Yeah, Airbnb is a great business model. A lot of people are able to leverage this arbitrage idea to build a sort of modern business. So I actually prepared some questions for you. I think I have four questions [inaudible 00:01:14] … I would love to learn about how did you first find out about passive Airbnb.
Tony Le Do: 01:23 Right, so how did I first find out about passive Airbnb? I think at the time I was going to a bunch of real estate meetups, and I was meeting a ton of people. And then I met with one of my friends, and she was doing Airbnb, and she was [inaudible 00:01:41] successful in it.
Sam Zuo: 01:41 Oh, cool.
Tony Le Do: 01:41 Actually I was really curious about it. I went on Bigger Pockets, there was not a lot of information. I went on Google, and your site just popped up, right?
Sam Zuo: 01:52 Nice.
Tony Le Do: 01:53 I started reading some of your blog posts, and I was naturally just [inaudible 00:01:56] … and I think you did a really good job just [inaudible 00:02:01] … everything that you really need for starting your own [inaudible 00:02:05] …
Sam Zuo: 02:07 Thanks, man. So you’ve mentioned, you briefly touched upon some of the use for things I talked about in my blog post. Was there anything most useful for you to get your first arbitrage unit up and running?
Tony Le Do: 02:23 Yeah. One thing I wanted to mention is that when you’re first getting started in Airbnb, there is a huge knowledge gap between someone who hasn’t hosted and someone who has hosted before. And there’s just a lot of information.
Tony Le Do: 02:39 I think one of the useful things that you mentioned was how to convince landlords to allow you to do Airbnb. And you went in depth on how to analyze landlords and how to start that conversation, how to negotiate and how to, what their concerns are and how to mitigate those concerns, and [inaudible 00:03:02] … And that really helped me.
Tony Le Do: 03:07 Another thing that really helped me is you [inaudible 00:03:10] … market research as well. [crosstalk 00:03:15] …
Sam Zuo: 03:15 Cool. This is good music to my ears, Tony. Thanks so much.
Tony Le Do: 03:18 Yeah, yeah, for sure, for sure. So market research, you wanna be competitive with other Airbnb [inaudible 00:03:24] … other competitors, how to look at [inaudible 00:03:28] … rates, because naturally people will look at [inaudible 00:03:32] … and if that’s [inaudible 00:03:34] … that’s where you come in, and that’s how you’re competitive with other Airbnb [inaudible 00:03:41] …
Sam Zuo: 03:42 Yeah, that’s cool. So from my understanding, when you first reached out to me, you actually didn’t purchase the e-course, you were able just to read, spend a lot of time, like read a whole bunch of my blog posts, and then was able to leverage the information from the blog and actually created something.
Tony Le Do: 04:00 Right.
Sam Zuo: 04:00 So tell me a little bit about the first unit that you have right now. How’s that going? Are you making money? Are you breaking even with your profits? Or how’s that going in general?
Tony Le Do: 04:13 So the first unit is going really well. And it does take longer to start out and [inaudible 00:04:22] … this type of work is fun to me, you know? But I’m gonna tell you straight up that it’s not a walk in the park. There is a huge learning gap.
Tony Le Do: 04:33 But for now, from the first unit, I am breaking even, if not making a little bit of money. [inaudible 00:04:40] … December is …
Sam Zuo: 04:42 Yeah, slow.
Tony Le Do: 04:43 It’s a really slow season, so I’m just grateful that it is breaking even. And so, but I do see huge potential in this business, and you know, the summer months are coming, that’s when people are traveling, and that’s when you really make your money.
Sam Zuo: 05:03 Yeah, just a quick insider tip, December, November, December, and January are the three slowest months in the Bay Area. So don’t worry …
Tony Le Do: 05:16 Really?
Sam Zuo: 05:16 Yeah, so don’t worry. Once January comes around, it’s gonna slowly pick up a little bit. And then the shoulder season comes in February, and that’s when things will start to pick up again.
Tony Le Do: 05:28 Yeah, for sure, I believe it.
Sam Zuo: 05:30 So cool Tony, thanks so much for your time. I want to be mindful of your time here, so we’re gonna say goodbye.
Tony Le Do: 05:40 Okay. Thank you so much, Sam.
Sam Zuo: 05:40 Thanks.
Tony Le Do: 05:41 And keep writing amazing blog posts.
Sam Zuo: 05:44 Thanks Tony, I appreciate it.
My goal is to help a thousand young professionals that are just like Tony. We need more of you, Tony!
Again, you don’t have to buy my e-course to be successful at building a profitable Airbnb business. Like Tony’s mentioned, it’s not a walk in the park and my e-course will get you to your goal faster and supercharge your learning in 7 weeks or less.
Sign up now and receive 5 mini-lessons to get you started. This training is absolutely FREE. Click Here to learn more about how you can leverage other people’s properties to build a 6-figure business on Airbnb.