63. Interest Rates, Booking Platforms, and Maximizing Profit

In this episode, Niyi Adewole discusses the direction of interest rates and how they will affect the housing market across the nation. He predicts that the Fed will do another quarter point hike and then leave it.

Niyi also talks about the recent launch of his vacation rental platform on booking.com and how he is using software called Auto Host to streamline the booking process. This software removes a lot of the restrictions from the booking and allows anyone to book instantly. However, on the back end, background checks are run and security deposits are obtained off-platform to verify the guest's identity and ensure security deposits are in place.

Niyi shares a recent incident where a guest put a hole in the wall, but instead of having to go through the whole Airbnb refund process, they were able to take the money from the guest's security deposit and get the wall fixed.

He also talks about the importance of offering weekly and monthly discounts, as it saves a lot on cleaning fees, and how he recently adjusted these discounts to increase bookings. He advises listeners to look at what they have for their weekly and monthly discounts and increase them if they have it below what Airbnb recommends.

Finally, Niyi discusses a lawyer retainer method where lawyers charge hourly for the work they're doing, and how it can add up quickly. He talks about a new method where a company is charging on the back end, almost like a realtor, where they're only going to charge if they sell the house.

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Our Links

➣ Financial Freedom Mastermind Facebook Group - https://www.facebook.com/groups/53083...

➣ Peer Space Host Referral Link https://www.peerspace.com/referrals/g...

➣ AirBNB Host Referral Link https://www.airbnb.com/r/niyia41

➣ Ekabo Home Network (IG, Youtube, Email) https://linktr.ee/ekabohome

Niyi Adewole is a licensed realtor in Georgia, brokered by EXP Realty. Feel free to reach out at Niyi.Adewole@exprealty.com if you would like to work with an investor friendly real estate agent.