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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