520: Kyle Stanley | Airbnb Passive Income

Dec 29, 2020

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Having a passive income can unlock the freedom for you to live your true life passions. Today’s guest, Kyle Stanley is a real estate and Airbnb professional in Fresno, CA. In just under 16 months, Kyle has accumulated 22 Airbnb listings. This business gives Kyle the freedom to live life on his terms. Kyle is also passionate about teaching others how to build an Airbnb portfolio like he has through tools like his podcast The Fearless Investor.

I really believe you’ll get a ton of value from this episode, so let’s tune in and learn how Kyle was able to turn his business into a tool to live financially free.

Things you will learn in this episode:

[00:01 - 06:22] Opening Segment

I introduce today’s guest, Kyle Stanley
Real Estate and Airbnb in Fresno
Teaching others to build a portfolio
Head over to https://guestio.com to connect to high-level guests
Kyle talks about his early life
All about self-competition
Dad who was a business owner
Mom was a teacher
Saw the value of having a business
Got into sportscasting
The experience in sports broadcasting

[06:23 - 15:37] Don’t Accept Failure as Your Identity

Kyle talks about going into his own business
Making more on a side business than the full-time job
Lack of appreciation in the job
Steps to getting into the entrepreneur space
The move to Arizona
3-month trial run
Connecting with the right people
Deciding to do this NOW
Navigating the decision to work for yourself
A love of change and challenge
One connection can lead me to 400 people
Proving I can do this
Weighing out the worst-case scenario
Kyle’s thoughts on failure and following your dream
Leaving your business doesn’t make you a failure
Money can be the tool to live your dream
Don’t accept failure as your identity

[15:38 - 25:24] Getting a Passive Income by Being an Action Taker

Kyle talks about the when and why behind real estate
Realizing the need for something truly passive
Identifying the skills you have
The education process and action process
Learning from Grant Cardone
Seminars and summits
Getting the ball rolling with action
The island analogy
Immediately taking action
Redirecting yourself
Varied timing, Guaranteed success
What your skillsets can do for you
Kyle talks about life goals
Building illustration
Knowing what you want your lifestyle to look like
The vehicle vs. the life goal

[25:25 - 32:39] Airbnb Passive Income

Kyle talks about going into Airbnb
How Kyle started
Striking passive income
Renting and subletting
$1,000 on one-bedroom alone
$15,500 in 5 months
$18,000 - $20,000 net monthly currently
Still growing
The passive side
When everything is in place it’s all added cash flow
The biggest risk involved
Lowest risk tolerance
Owning and managing
The importance of analyzing the deal
The reward so much higher than the risk
The value of mentorship
Another pair of eyes on a deal
Mitigating mistakes early on

[32:40 - 36:20] Closing Segment

How to reach out to Kyle
Links below
Airbnb profit calculator
Who you know or What you know?
Definitely who - who has become before the what in this business
The RaNdoM RoUnd
Remember to upload and tag us on Instagram!
Final words

Tweetable Quotes:

“If I wasn’t going to be able to be appreciated, then I wanted to create my own lifestyle and give MYSELF a pat on the back.” - Kyle Stanley

“You’re not a failure if you step away from a business, you’re a failure if you step away from your dreams.” - Kyle Stanley

Resources Mentioned:

You can connect with Kyle on LinkedIn, Instagram, Twitter, and Facebook. Be sure to check out https://www.fearlesskyle.com and assess your deal!

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