Everything Christian Johnson said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Johnson: If a 2% margin makes the deal, you're doing it wrong
“If your margin is so small, like two percent, if that's the difference maker, then you're doing it wrong.”
Johnson: Top 20% of short-term rentals get 80% of guest traffic
“The top 20% of the listings get 80% of the traffic. And so if you're in the top 20% which if you know how to underwrite and you know how to create an experience, it's pretty easy to do. The market is softened, but very sustainable and still highly profitable.”
Johnson: Short-term rental investors should only enter pre-regulated markets
“That, that's exactly what I tell people is when you, if you're looking at a market and whether you should invest in it, you need to go to a market that's already regulated and you need to be, the deal needs to be able to play by their rules. And so if that doe…”
Johnson: Remote Airbnb investing is unwise for beginners without local partners
“Remote hospitality is significantly harder than in-person hospitality, and so starting an Airbnb investment in a location that's a really strong market that you cannot touch if you're just starting out to me is typically not the right route unless you have an …”
Johnson: AirDNA estimates gross revenue by scraping blocked calendar dates
“What you have to know about how these tools estimate income is they're basically scraping
The prices from existing Airbnbs. And so let's say that you have an Airbnb with Monday, Tuesday, Wednesday open, right? At 300 dollars a night. And then the next day the …”
Johnson: Avoids Airbnb investments smaller than four to five bedrooms
“I personally steer away from now anything lower than a four to five bedroom because the value proposition of Airbnb is a collective experience in my opinion, and you can't really provide that in a one to two bedroom and the one to two bedroom and three bedroom…”
Johnson: Take design risks in Airbnbs you wouldn't do at home
“What I tell people when they're designing Airbnbs is take risks on your Airbnb design that make you think like, oh, this is interesting. I wouldn't do this in my own home, but this is interesting because that's what you want the guest to feel when they walk in…”
Johnson: Taking bookings off-platform immediately degrades Airbnb search performance
“You will see an immediate decrease in performance when you start taking bookings off of their platform.”
Johnson acquired a fourplex with $0 down using VA loan timing
“And so the way I had structured the deal is I closed With zero dollars cash in, right? Cause the VA loan. I closed on like the second of the month on purpose. We pushed escrow like three days. So I had like 59 days without having to make my first payment.”
Johnson netted up to $10,000 monthly from converting his fourplex to short-term rentals
“I was making like, 15 to 20,000 dollars a month. In gross revenue, and my monthly payment on that was like, 5600. P-I-T-I, or Principal Interest Tax and Insurance. So after operating expenses, there was months where I was taking home like a 10 K check.”
Johnson: Has 12,000 guest phone numbers in direct marketing database
“So I have 12,000 guests with phone numbers in my system, right? That I can do a soft touch to via SMS or email”