Landon Wilkinson is one of the co-founders Hostshare.co, and have spent 10 years self employed in commercial multi-family real estate, and short term rentals. He has a wonderful wife who works with him in Hostshare as CMO, and two kids under 3.

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Guest Resources

Hostshare – Hosts Travel Free. Share your unbooked nights with other hosts, just pay for cleaning!

Landon’s LinkedIn – Connect with Landon on LinkedIn.

3 Value Bombs

1) Persistence and dedication are key factors that set apart those who succeed.

2) Without such a strong vision, it is difficult to recruit a team, especially one that is willing to bootstrap. This underscores the importance of recognizing opportunities and addressing unmet needs.

3) Choose your partners wisely, and select your path even more cautiously.

Show Notes

**Click the time stamp to jump directly to that point in the episode.

Today’s Audio MASTERCLASS: Making Airbnb Affordable Again with Landon Wilkenson

[1:25] – Landon shares something he believes about becoming successful that most people disagree with.

He believes persistence and dedication are key factors that set apart those who succeed.

[2:13] – When did Airbnb become unaffordable?

Landon started with Couchsurfing before transitioning to Airbnb, which he has been doing for about ten years. Over time, he has witnessed the rapid growth of Airbnb and similar platforms like VRBO.
Airbnb’s high commission fee of around 25% poses a challenge for hosts, especially in 2023. Hosts face various expenses, including regulatory compliance, taxes, cleaning fees, and maintaining their properties in a competitive market.
Despite hosts often bearing the blame for these costs, Airbnb’s significant commission plays a major role. In the past five years, economic factors have made it increasingly difficult for both hosts and travelers to find Airbnb affordable.
This struggle aligns with the podcast’s theme of making short-term rentals more accessible and affordable.

[4:16] – What must you know about the opportunities on over 3,000,000 unbooked homes?

Landon was shocked to learn that Airbnb has around 6 million listings, with an average occupancy rate of 50% and an average nightly rate of $317. This means about $330 billion in potential income goes to waste annually due to 3 million empty homes.
This is especially true during events like the COVID-19 pandemic in 2020 when properties that used to make $2,000 a month could suddenly earn six times as much. As the industry has seen a return to average growth rates, there’s concern among those who entered the market at its peak.
The combination of factors like high occupancy rates leading to lower ones is causing alarm.

[5:45] – Landon shares the story that inspired him and his A-ha moment.

Landon and his brother spent about a week brainstorming ideas, which led them to focus on short-term rentals. They observed that many luxury assets, like airplanes and boats, have low utilization rates, similar to how Uber began by looking at the underused time of cars.
This realization came to them when his friend’s family needed accommodation and stayed at his short-term rental in Montana, covering only the cleaning fee.
This incident and jointly owning an airplane highlighted the potential of efficiently sharing resources. They found that despite owning the plane together, it often remained unused.
This concept of sharing resources fairly sparked their interest, and they believe it can be applied across various industries, especially in economic hardship.
Before starting Host Share, he had experience in various industries, including traditional real estate investing. While he found success in those fields, he realized that sticking to the same path for the next several decades would not offer much excitement. He wanted to create something that added significant value and required thinking outside the box, uncovering overlooked opportunities.
This led him to focus on addressing wasted potential, which is the foundation of what they are building with Host Share.

[10:21] – A timeout to thank our sponsors!

HubSpot: Scale support and drive retention and revenue all in one place with HubSpot’s all-new Service Hub. Visit HubSpot.com/service to learn how this all-new solution can help you deliver for your customers!
Yahoo Finance: Yahoo Finance makes it easy to get financial news, data, and insights fast. For comprehensive financial news and analysis, visit the brand behind every great investor, YahooFinance.com!

[13:44] – Landon shares how he managed to launch his business without outside funding.

Landon shares that Host Share is a platform for short-term rentals. It is like a home exchange but with a twist. You get three weeks of free travel per listing when you sign up and list your property. The number of nights you can share depends on the value of your property. The system ensures fairness by allocating more nights to lower-value properties. Bookings are only available within five days to avoid blocking potential revenue nights. Creating such a platform requires intricate rules to make it fair for everyone.
Landon and his brother realized they lacked technical skills, so they partnered with experts in app development, Michael and Devon. This partnership saved them from costly mistakes and made the process smoother and more enjoyable. By giving equity to those with the necessary skills, they avoided the need for external funding.
They believe that once a platform is up and running smoothly, there is little need to raise more money unless there is a specific goal like rapid expansion. This approach gives them more control over their business’s future.

[18:28] – Landon gives a recommendation to Fire Nation.

Landon used to be in a band where the conventional path was to chase a record deal. However, he realized that this one-size-fits-all approach was not always in the best interest of the band.
Similarly, in his current venture with Host Shares, he sees parallels in the startup world where there is pressure to conform to a standard VC route. While acknowledging the importance of VC funding for certain startups needing substantial investment, Landon believes it is not always the best option for founders.
VCs often dictate terms, much like record labels did for bands. He suggests that if possible, it is more enjoyable and beneficial for founders to assemble the right team, share ownership, and bootstrap the business.

[20:08] – Landon shares his philosophy on how you view the world determines which opportunities present themselves to you.

Using Host Share as an example, the idea was so compelling from the start that Michael, Devin, and their business partners, including Landon’s wife, were willing to work for free on it.
Without such a strong vision, it is difficult to recruit a team, especially one that is willing to bootstrap. This underscores the importance of recognizing opportunities and addressing unmet needs.
The success of businesses like Host Share would not have been possible a decade ago due to a lack of understanding about concepts like Airbnb. Timing, preparedness, and seizing opportunities all play crucial roles in such endeavors.

[21:36] – Landon gives his takeaway.

Choose your partners wisely, and select your path even more cautiously.

[22:08] – Landon gives his call to action.

Hostshare – Hosts Travel Free. Share your unbooked nights with other hosts, just pay for cleaning!
Landon’s LinkedIn – Connect with Landon on LinkedIn.

[22:09] – Thank you to our Sponsors!

HubSpot: Scale support and drive retention and revenue all in one place with HubSpot’s all-new Service Hub. Visit HubSpot.com/service to learn how this all-new solution can help you deliver for your customers!
Yahoo Finance: Yahoo Finance makes it easy to get financial news, data, and insights fast. For comprehensive financial news and analysis, visit the brand behind every great investor, YahooFinance.com!

Killer Resources!

1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!

2) Free Podcast Course: Learn from JLD how to create and launch your podcast!

3) Podcasters’ Paradise: The #1 podcasting community in the world!

Making Airbnb Affordable Again with Landon Wilkinson

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