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How I Bought Real Estate Which Makes Me $1.7 Million Per Year | Ben Wolff Interview
Description
What if you can't code and you're not good at tech?
You go and start a business that makes $1.7 million per year.
This is what Ben Wolff did with little money and reasonably short period of time.
Today, he manages more than $65 million worth of real estate.
"With our properties, we achieve industry-leading margins of, say, 52-55% NOI."
We discuss:
— Opening first property
— Starting an real estate management company
— Secrets of using social media platforms in short stay
— Achieving 52-55% NOI margins
— How to really own customers
— Not relying on booking platforms
00:00 - Intro
00:40 - Being broke, $30,000 in debt, what next...
07:05 - REIT (a public company) acquires the majority of the company
11:00 - Revenue and size of the business
14:02 - Fundraising with no track record used to be easy
20:17 - Luxury hotel stays and 50%+ IRR
24:49 - Using social media to achieve industry leading margins
30:45 - 100% overship of a customer
31:50 – How traditional businesses should use social media to their advantage
34:34 - The biggest lesson as an operator - quality!
42:05 - The benefits of sharing everything publicly
54:30 - Reinvesting all real estate profits in the media
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