How Community Drives Hospitality Success

Welcome to Boostly Podcast Episode 564.

In this podcast, Mark Simpson talks to Kyle Stanley about community and how it can help grow a business.

Kyle has the second-largest Airbnb Facebook group, which he built on community, and has been in the industry since 2019, growing his portfolio to about 70 units across California and the United States.

He now coaches his community. Mark emphasizes that community is essential for businesses to thrive, as it has been for Boostly, and invites listeners to check out Kyle's community at Boostly.co.uk/kyle.

Kyle talks about how he became an entrepreneur in 2011 and how his goal was always to live a lifestyle by design.

He tried various business ventures before getting into flipping houses in 2019, which led him to short-term rentals.

Despite skepticism from others, he made $2,000 in his first month and has continued to grow his business.

The podcast emphasizes the importance of having a lawyer to check contracts and concludes with a conversation about Kyle's future plans.

Here's the video for this episode:

Timestamps (audio)

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Transcript from the Episode

[00:00:00] Kyle: Especially if you're in the uk. If you're even just in a different state than me, make sure you have a lawyer. Check it out. But man, it's a lot cheaper to have a lawyer check a contract than it is to make a contract.

[00:00:11] Mark: In this video, we are talking with Kyle Stanley about community. Now community's big to me.

[00:00:16] Boostly was founded on community, and it's something that has mean that this business can grow. It's on the back end of the community. Build a community first and then the business comes sec. And in this video I wanted to chat to Kyle Stanley because he has done just that. He's got the second largest, um, Airbnb Facebook group that is out there built on community.

[00:00:34] Um, he has been, um, in this industry since 2019. He's grown his portfolio to round about 70 units. Spread it around, um, California and United States, and he is now coaching his community. And today we're gonna talk about that community because I've seen it from the inside. I love it. I think it's great and I want more people to find out about it.

[00:00:55] So we're gonna chat to Kyle. He's gonna give us the big intro and all that cool stuff. The link that I [00:01:00] want for you to go and check out is Boost Lee dot code uk slash kyle. Offer b o o s tl y dot code uk slash. Offer you get free days for free. With that, it's limited time. Go and check it out. Please, please, please, it could potentially change your short term rental business.

[00:01:19] Alright, thank you very much for coming on, uh, to the podcast, Kyle. So let's get started. We're gonna talk about all the cool things that are happening in your world in 2023, but before that, could you just, uh, give us a super quick intro, tell everybody where you are in the world, how you got into short term rentals, and, uh, then we'll dive in with, with a couple of questions.

[00:01:37] Kyle: Yeah, no, I'm stoked to be on the show, man. Um, really excited. I, I feel like I've known you pretty long time. We finally got to meet in person, uh, this last year in Nashville and that was awesome. And just so everyone knows, mark is a lot taller in person than like you actually think he is. , how tall are you?

[00:01:53] Mark? Like six three.

[00:01:54] Mark: Yeah, I am. And this is the thing. Yeah. A lot of people say it's because where the cameras. And the camera, the camera down. [00:02:00] Looking down. Yeah. So it's, it's at the eye line. Yeah. Yeah. So when you meet me and I'm like up here, it's, yeah, it's, it's one

[00:02:06] Kyle: fact famous people probably didn't know that.

[00:02:08] Yeah. Um, But yeah, mark, I, uh, I started in short-term rentals in 2019, but really my, my story and journey as an entrepreneur started back in 2011. I was a sports anchor at the time for a local TV station, um, and was kind of fed up with being, you know, undervalued and just like anyone else in a nine to five job, right?

[00:02:29] Like, I didn't like showing up. Being told when to go there, how to do it, when to do it, and, and just being undervalued. And for that reason, I started my own business. Uh, but for the next eight years, nine years of running that business, I realized I really had no idea what I was doing. I didn't have a mentor.

[00:02:45] Um, I, I didn't know any business. Uh, I didn't take a business class in college, you know, I was just trying to figure things out. And all I knew the entire time was that I. To live a lifestyle that was by my design, not by someone [00:03:00] else's. I didn't want to keep on building up someone else's empire. And so I just had that as the, the goal the entire time.

[00:03:05] So whether it was starting a business, going into an mlm, doing some sales jobs, trying all these different things, the goal was always the same. It was passive residual income to let me be able to provide for my family and travel with my family and, and live that life by design. And when I got into flipping houses in 2019, I got my second house and I was like, you know what?

[00:03:24] I'm gonna keep this and I'm gonna try short-term rentals. And people thought I was crazy. I'm in Fresno, California. If you've never been to Fresno, there's not much going on. So people are like, wait, you wanna do a vacation rental? I was like, no. I wanna do a short-term rental. And very big difference and made $2,000 my first month after all my expenses, and I was off and going.

[00:03:43] I bought a course, learned how to do the arbitrage and the co-hosting model. And fast forward three years later, um, we're over 70 properties and, uh, you know, life looks a lot different. And so, um, uh, the, the blessing too has been that I have an amazing team that allows me to be able to [00:04:00] really, uh, go in and, and pour back into the community.

[00:04:03] I have a free YouTube channel podcast. We have the second largest Facebook group in the world for Airbnb hosts, Airbnb Masterminds, and that's where I put most of my time into. Now these.

[00:04:12] Mark: Yeah, it's, it's amazing. I feel like people like yourself and, and Mike Sheen and, uh, Ryan, Luke, I feel like you have got this skillset behind the scenes that is ingrained into you.

[00:04:23] But you could have put your mind to anything, like any vertical of, of business that is out there, but you fell into short term rentals, and this is why you succeed, because of the systems and the structures and the mindset that you have. And to see it, to see it. I mean, that number just keeps getting bigger all the time.

[00:04:38] I mean, the first time we started speaking, you're about 30, dropped, about to go into 40, and now it's 70. So it's, it's been amazing to see from, from, from, from like this side onwards. So, uh, well, well done. And so you've built this, this cool business. Um, you've managed to get that freedom. We're talking off air about the plans and stuff for this year, and you're getting that freedom and which is [00:05:00] really cool.

[00:05:00] And now obviously you've got the community and you are showing people what you do with YouTube and podcasts and the Facebook group. And what we're gonna talk about today is the other, the other feet new thing that's about to happen, which is the, um, the six FFF membership, which is basically the, the new thing that you're doing.

[00:05:17] So tell me a little bit about the community. Tell me a little bit about the me. And what can people expect and, and what's the big plan for this year and why most importantly are you doing it? So it's like three questions in one here. So let's deep dive into.

[00:05:30] Kyle: Yeah. And before I, I do answer that question. I, I want to just back up to something you said there, and I can tell you I wasn't just born naturally with what, what you think would just apply to just anything with business.

[00:05:42] I gotta tell you, mark, I mean like that nine years of trying to figure out. Business was a struggle. And I think the biggest thing I worked on that entire nine years was myself. And so for anyone that's listening, that's like, oh, you know, Mark's got something special, or Kyle's got something special, or anyone that mark's out on the show, they've got something special.

[00:05:59] It's not the [00:06:00] case. It's just we were willing to go through the crap in order to be better on the other side. Right. Um, but yeah. So the, this St R six figure formula, um, you know, to be completely honest, this has been an evolution over the last year to where eventually, Um, you know, I was doing a lot of one-on-one coaching mark and people were getting results, and it was awesome and it was a lot of fun.

[00:06:21] I mean, you know, one of my top students, he got 50 properties in his first five months, collected over $800,000 on Airbnb alone in his first seven months. And it's like, you know, that's, that's a life-changing experience, but, My problem was, I, I could only have this capacity of helping like, 5, 6, 7 people at a time.

[00:06:40] And I tried the group coaching, but you know what, just the entire time it ki it just didn't really sit right with me. Uh, a lot of people out there, you know, they charge the eight, 10, $12,000 for group coaching and, and they get results. But for me, like I just. I am just always like, all right, I wanna make sure that this is something that I can help the masses on.

[00:06:59] And it [00:07:00] doesn't have to be, Hey, I wanna, I, I gotta go get a loan or a second mortgage on my house in order to start this business. And so, um, One of the things that I think you are a, a, a big proponent of this too, mark, one of the things that's a goal of mine is in this year of 2023, I wanna help 2000, uh, hosts just level up their game and be better hosts.

[00:07:22] Because this industry, unfortunately, as you know, um, is probably the highest income producing industry that does not, it's not filled with a bunch of people who are getting trained and are getting, you know, Getting the tools to know how to be an actual business owner. They're just like, okay, I can go throw my property on Airbnb and start making money.

[00:07:43] And before you know it, you know, you got people who have full-time jobs that aren't giving guests the attention they need, aren't giving, uh, the property the attention that it needs. And then for that reason, you have a lot of pissed off neighbors. And so there's this really bad. Rain Cloud over the [00:08:00] short-term rental industry.

[00:08:01] And one of my goals is, you know, I, I have, uh, 150,000 people in my Facebook group, and I was like, I'm not helping these people enough. And so what can I develop? And, and to me the answer was the Six Figure Formula membership for 49 bucks a month. People get a community, they get a course, they get access to me and my podcast guests, and they get exclusive discounts to the top softwares.

[00:08:26] By the way, hint, hint, including boley in in our short term rental six figure formula, and so. For me now, I'm seeing Mark, a lot of people coming into this, this community that not only wanna build that large business, but we have like, you know, recently we had a single mom that joined the group that has five properties and she's like, Hey, I just want to know how to be able to make this a little bit easier so I can spend more time with my kids.

[00:08:51] And I'm just having to answer questions from guests all the time. I'm having to do all these things and, and you know, to me like that's, that's more of the kind of person we're helping now. It's the active [00:09:00] operator and the people who are just starting as well, who want to grow a business just so we can be a, a more solid industry together.

[00:09:07] Mark: This is why I wanted to to, to get you on, because you're right, like my goal is to help 1 million hosts cut down on an over alliance on Airbnb. And when I first got started, I was doing the one-on-one. And it was great because when you first get started, you know what works for you. Like you, you, you sit there at your computer, you build your team, and then when you start to go down this world of, of helping people, you think, well, Is it me,

[00:09:31] Is it just work for me? Or could this work for others? And so you start to show others and you go one-on-one. Cause that's the safe, that's the safe bet. If you go one-on-one, you, you can spend a bit more time with them. You can really drum in the systems and the structures and the things you've got in place, and then you can see the results.

[00:09:44] If the results are there, when and when the results grow, it's gone. This is fantastic. This is great. But. Because it works, then the word of mouth spreads and because the word of mouth spreads and you've got more people messaging you saying, Hey, can you do this for me? And it gets to the point where it gets really overwhelming cause there's only one of you.

[00:09:57] And Yep. That's when you're at that sort of pivotal [00:10:00] moment. I, I could have gone down one way and built an agency doing that, or we could have gone to the want to many model and that's what Booster did years ago. And this is what you are doing here. And like I say, you've, you've tried different types of, uh, coaching and this is the one that you're setting on, which is perfect.

[00:10:13] It fits you, it fits the group and it fits everybody. And I, I really like it. I say I've, I've been able to dip in, I've been very lucky to dip in over the last year at several different times and sort of lend, uh, a little hand and, and do little things here and there and it's been awesome to see and I know the impact and the benefit that it does have.

[00:10:30] So, which is why I want to get you on the podcast to spread the word about it. So just break it down. So when they join, this isn't for people who haven't got started, this is for everybody. This is not just for those that are looking to get going. This is even for hosts that have got started and are wanting to simply level up.

[00:10:44] Cuz you're right. The problem is, is that in 2020, So many people got involved in this. Yeah. And so many people got involved but didn't have the hospitality first mindset. And they got in thinking this is a QuickBook and they've not gotten it with the right attitude. And this is where [00:11:00] complaints happen.

[00:11:00] This is where the bad eggs, this is the TikTok videos that you see where you've got, uh, a, an influencer or content creator rocking around saying, What, what a fri am I doing here? This is crazy. Yeah. And these, these are the bad eggs. So this is about leveling up to make sure this industry doesn't get, you know, really hard done by, from people that are bringing it down.

[00:11:17] So walk us through Ben. What do they get when they join and more, more importantly, um, how can they join?

[00:11:24] Kyle: Yeah, and funny side story, I just got tagged by someone I don't even know in a large Facebook group the other day, and they were like, oh, it's because of people like Kyle Stanley that who's teaching you how to, you know, avoid all the.

[00:11:36] And do arbitrage and like break the rules. And I'm like, what are you talking about ? You know, it's just, it, and, and you know, it, it's, it's disappointing cuz you know, a lot of people have. Taught that. I remember like one of the first courses I bought in short term rentals was literally teaching you how to do this without telling the landlord and like, go under the rug.

[00:11:55] And I was like, oh my gosh, that just feels so wrong. And it's, it's unfortunate. And that's, [00:12:00] that's not what you're getting with the six figure formula. We're getting the right way to do this business. You're being taught how to run a business. You're not being taught how to run an Airbnb. You're being taught how to develop a business, whether that's one property or 70 properties.

[00:12:12] We actually did just have someone who has 70 properties join the six figure formula. And the reason is, is because if you're looking to level up or you're looking to create more systems, or you're looking to be able to just figure out, um, how to get that competitive edge in your, your, uh, market, like that's what we're doing.

[00:12:29] So. They're getting a course mark, it's called the Kickstart course, and that course is nine modules, about 15 hours of just all the things that I've learned over the years. Brain dumped and organized into one course. Um, and the, the resources in there as well is just wild. Like, you know, we have checklists, we have templates, we have scripts, we have calculators.

[00:12:51] Um, if you wanna, you know, know the script on how to be able to hire a good cleaner, it's in there. If you wanna know the script on how to talk to a landlord, uh, to convince them to either be a co-host [00:13:00] or to do arbitrage that's in there. Um, we have actual recorded meetings with landlords as well. Um, And then, you know, I think the biggest thing is like all the contracts, you know, I tell everyone, especially if you're in the uk, if you're even just in a different state than me, make sure you have a lawyer.

[00:13:15] Check it out. But man, it's a lot cheaper to have a lawyer check a contract than it is to make a contract. Um, and so all that's right there for you. Um, so they get the, the course, which, you know, just. To be completely clear, I used to sell that for $1,500 and now it's part of the $49 per month. So, nice.

[00:13:31] Pretty awesome. Um, then they get access to me because in the community, uh, where if they post, it's on Facebook, if they post anything, um, you know, , anyone in the community can respond, but I'm going in there twice a day and I'm responding to things. Plus once a week, I'm also doing a q and a. You submit your questions ahead of time and I'm answering them live on our live q and a every Monday night.

[00:13:52] Um, and then I interview people like Mark, once a week. I just had, uh, noble Crawford, I had Ryan [00:14:00] Bakery, I had a b I have people every single week that you've, you're following our podcast, the Fearless Investor. Uh, you'll hear me talk about it and say, Hey, we're going live in our six figure formula. And then we actually.

[00:14:10] After the podcast is done, stay on another 10 to 15 minutes with that guest so that you can get your questions answered by. It's a great idea you probably looked at. Yeah. And that was, that was a fun one for me because it's like, hey, you know, now we're getting questions from people that are really invested in growing their business and not just looking for some free advice, which a lot of people kind of are these days.

[00:14:31] And, and then, you know, the last one for me was, it was my, my Baby project on this whole thing. And that was going to people like Mark, like host away, like Air, dna, uh, St. R Insights, all these. Software companies and saying, we're gonna have the best s t R community of people that want to build their business and they're gonna need your software.

[00:14:50] So they deserve the best prices that you can give. And so we have exclusive discounts to all these softwares that no one else is getting. For example, price Labs is giving a [00:15:00] 25% discount up to 10 listings. They're not doing that anywhere else. Um, and so I was able to get all of them on board with us. And if you're a member of the six figure formula, you get that discount if you're not a member or if you cancel anytime, you do lose that discount and you lose, you know, obviously everything else there.

[00:15:15] But that's why I wanted to keep it such a low price because man, for 49 bucks a month, uh, you can literally get one room booked on Airbnb for one night and, and get that paid for every. Yep, that's

[00:15:27] Mark: absolutely right. And also as well, if you go to Bo Lee, so you should know how to spell that. B O O S T L y, dot code UK slash Kyle.

[00:15:34] So Kyle's first name and then offer. So O F F E R. This is really cool. So obviously Kyle's a big believer of it. I'm a big fan of it and there's so many people that are a big fan of it. But we know that when there's something like this, cuz there are so many different offers that are out. And what Kyle has graciously done, and this is for a limited time, so make sure you go and check it out.

[00:15:55] Boost dot code uk four Slash's, Kyle offer. You can test it out for free days, totally free. [00:16:00] Test it out for free days. Get the layer of the land, check it all out, make sure that you like it, which obviously you will, which is awesome. So one of the biggest reasons why people don't sort of, uh, take that jump.

[00:16:10] Take that leap, take that thief, is it, and go. I know if I put the money down, am I gonna enjoy it, et cetera. But you can sign up three days. And what, what was the decision making behind that? Cause I think it's genius. I think it's really good. Um, like what was the thinking making behind that?

[00:16:23] Kyle: Yeah. And, and just so everyone's clear, uh, on day four, if you haven't canceled, you will get charged the $49.

[00:16:29] I don't want anyone to be like, oh, I didn't know that was gonna happen. It, it's on there. It's on the page too. Um, you know, honestly, mark, I kind of put myself in the shoes of everyone and I'm like, I, I, I literally put the value down of all this, and I'm like, this. More than a $10,000 value. And you're saying that like, I'm only gonna get it for $49 a month.

[00:16:46] And it was kind of like a, I feel like it's almost too good to be true kind of thing. So I was like, well then let's just let people try it for three days to see it just is as good as we say it is. And, uh, and that it's not too good to be true. It's even better than, [00:17:00] than what we say it is. So, um, you know, it's just kind of like what you said, right?

[00:17:03] Like a lot of people have that fear of like, even if it's. Dollar. Like, ah, I, I gotta spend any money. And there's that fear of loss of like, am I gonna like it? And so there you go. You can try it out for free. And I mean, I think, just so you know, I mean, the good news, bad news of this is that you, you're probably gonna love it.

[00:17:22] The bad news is you're probably gonna be spending $49 a month because you're gonna love it so much. Like I'm just telling you right now. We've had 350 people join in the last three months, and I think we've had about 20 cancel. Like everyone loves it. That's a good,

[00:17:35] Mark: that's a good churn, right? That's a good, yeah.

[00:17:37] Well, again, as, as well, you say $49 is an investment if you, with just the information that I've seen. If you just implement like one or two things into level of your business, it will have a profound effect. And just by putting Price Labs in, so many people still don't have dynamic pricing in their business.

[00:17:53] It is bananas to me. Uh, and so if you've got a solution like Price Labs, which is one of the co-authors of the blueprint, so we love them, uh, [00:18:00] you will definitely get. Keep return investment even if you just tap into price lapse, which is, which is epic. So again, I'll give it booley dot code uk, b o o s, tl Y dot code uk four slash Kyle offer.

[00:18:10] Go and check it out. Go P part six, six figure, go and get all the goodness and level up your business. Um, before we let you go, cause there's a lot of things happening in your worlds, just sort of lay it out. What, what's, what's coming up this world, this, this year? What's, what's happening in the world of Kyle Stanley and what's happening in the.

[00:18:26] Kyle: Uh, well happening in my world as we are recording this January 26th, I'm waiting for, you know, that, that call from the next room or, or a phone call or a text from my wife because we're, uh, expecting our first child. So very excited about that. Madeline, Joyce Stanley. Um, and, uh, that's, you know, a a lot of the reason I, I.

[00:18:48] Transition into this offer is because of just that. Because I just said, you know what? If I can, if I can my, make life a little simpler for me so I can be a present dad, you know, the Airbnb business already allows me to do that, but the time [00:19:00] that I do put into our communities and the, the podcast YouTube channel, it is a lot of work.

[00:19:04] And so I'm trying to simplify life a little bit for me right now too. And so there's a little bit of that, that selfishness behind it just so I can be. Present dad to, to my future daughter. Good, good.

[00:19:14] Mark: Awesome. Brilliant. So if anybody wants to chat to you, wants to send you a message or find out the best place, where's the best place?

[00:19:20] What's the best social channel? Where do you like spending your

[00:19:22] Kyle: time? Definitely Instagram. Um, so fearless Kyle on Instagram and don't like, it's only fearless Kyle. There's no underscores, there's no numbers, there's nothing like that. We got a lot of fakers out there and they're gonna try to sell you crypto and timeshares and all that kind of stuff.

[00:19:37] Don't, don't do those Fearless Kyle, all one. Spelled exactly how it sounds. You,

[00:19:44] Mark: you go find it, you'll, you'll be there. And if, if you just go into, uh, go into my Instagram and look at the people that I follow is in there. So you are all good buddy. Appreciate it. Uh, good luck to all the things that are coming up.

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