Ask Peter Lorimer I AirBnB Properties The Next Real Estate Money Maker? 🤑💰🏦 (2018)

Ask Peter Lorimer I AirBnB Properties The Next Real Estate Money Maker? 🤑💰🏦 (2018)


– We’re gonna be live in five – What’s that one? – Four. – [Camera Man] It’s just normal. – My video for YouTube.
(laughing) – That’s YouTube live? – No, it’s to post on YouTube later. (laughs) hi! – Hi YouTube. – [Camera Man] Five, four,
three, two, one. Live. – Hi! So I promised in a little message Did you just blink, did you just tinkle? – Excuse me
– (laughing) I promised. – I barely know you. – That I was going to have the infamous Peter Lorimer. – Infamous. – Infamous. – Apparently I’m blinking
infamous in the first 10 seconds. – And here he is star of stage, screen, real estate manifestos. (laughing) The man, the myth, the mystic. – I’m overwhelmed. – Peter Lorimer. So if anyone on the planet has Netflix. – Oh. – They might have seen
you in a fantastic show, and is that your like selfie duck face? – That’s it, that’s the promotion show. – And I’m thrilled Stay Here. – Stay here, bravo. – And if you could speak a little bit about how you wound up on television. And then jump right into what we should be looking at for AirBnB. – Okay – As realtors and real estate clientele. – Okay, so it’s very very interesting. So, wow you really are good at this. (laughing) I normally don’t, ya know,
just let it all come out. So when I was setting up PLG, PLG’s been open since 2010 Right about exactly eight
years old almost to the day. And the first few, it’s like giving birth to a child, I have
three beautiful children. And it’s like you know,
you have a baby and your look oh, ah I don’t
really know what to do. I was trying to stuff
it in this end, and then other stuff comes out this end. And woo, you figure it out. And so when you have a company, especially it being a
company like first one. That involved having employees ’cause I had several
businesses that was just me. I’m like okay, and it took
me a minute to figure it out. And so, I look I do a lot of stuff wrong. So I started doing what all
the other companies were doing, like you know this sexy
shot of beautiful houses and, you know, kind of really nice, sophisticated done up
L.A., Beverly Hills homes. And I’m like, it just really
want resonating with me. Because it felt like
everyone was doing it. And then I had this innate urge, I knew the video was going to
be kind of a way to separate myself from all the other companies. And I had been wanting
to do it for a long time. And I went to Inmanconnect
in San Francisco in 2015. And I had that Aha moment,
I had a moment of clarity, where I met a friend of mine
Jesse Peters from Canada. He does a lot of video, and he’s like “just gotta do it, it
doesn’t match, do it”. And he, I actually did my first video with him up there on his channel. And that popped my cherry
and I’m like okay I’m in. And then from there it evolved,
I discovered Casey Neistat, I discovered Gary V, I was
very inspired by them both. Got into vlogging. Kind of had to find my
own rhythm with that, and just continually obsessively vlogged. And was doing it to bring
awareness to the PLG because I knew that as a
boutique we can’t outspend Colber Macker in marketing I don’t want to do boring old print ads and all the usual crap that they all do. And I’m like nobody is doing
video, so we can own this in a saturated market like Los Angeles. – Right. – And so we did, we set
out and we owned it. We got a great following. I’d say at least 75% of the agents here kind of found us through video. And then kept doing it, kept
doing it and kept doing it and no desire or inclination
to do television. And I got a call from a
casting agent who said, “um, do you want to be on a Netflix show?” And I’m like, who is this? And I thought it was
someone who’s pranking me. – (laughing) Sounds like
something I would do. – Right? – Hello I’m calling from NBC. – Yeah would you like to get on the show? (muttering) Anyways, I might swear in a minute. And I just was very
polite, I was very busy. And sometimes in Beverly
Hills you get these calls to kind of do little guest bits. – Oh yes, there will
be other agents there, it will be like a cocktail party. – Exactly, and I have no interest in that, and so I said to this
really nice young lady, I said look if you’re looking
for someone that’s wearing a very tight Italian suit
that’s shouting at people, I’m like it’s not me I said but I’ll gladly refer you to somebody, but that’s just not me I said this so I presume this is over and I went to go hang
up the phone, she went “no no no, no we
specifically went after you” anyway and then I met the
costar Genvieve Gorder who is ah – She’s so talented. – She’s a doll, and we did
what we call chemistry tests which is something I was unaware of. I thought it was, you know, by mixing, you know, stuff together
and a chemistry test. – No it’s how you guys work on camera, people’s likeability all that.
– Yeah. – You just went in being you,
had no idea what they were. – No idea
– Peeling apart the layers, like hmm how are they, yes.
– Yeah, so I went in and again I’m like there is no way I’m getting this, so I’m going to have to give it all I got. And I was myself, I was
kind of balls to the wall. And then I got a call, and it said “ugh congratulations, you got the show”. – Oh wow (crowd cheering) – And I’m like, what happened
to the other people that came, there was only two guys
there I noticed them. And they said, what do you mean two guys? I said “the other two guys”, and he said, “the two guys” he said “we’ve
been casting this for months” and you just happened to kind of. – Oh you saw somebody else that was coming in for the end of it.
– Yes. (laughing) And they said we’ve been
doing this for months. – The final casting, ah – So I’m like. – The final callback, there was three after the thousands that they had seen. – I guess, and I said “where were you looking
for everyone else”? I’m like “were you looking
in prison or something”. (laughing) You know, still couldn’t
quite believe that I got it. And, and then that’s it
and then, the show is out it’s called Stay Here,
it’s apparently trending on Netflix right now and
it’s all rather exciting. – And my world became
aware of Airbnb as a result of selling a condo two years
ago, a year and a half ago and how many calls I got asking if they, if the area we were in allowed Airbnb. This became this like
light bulb, oh people are now taking their income
property and not renting it, they’re Airbnbing it,
because it makes more money. – Yes.
– This is a whole new thing. – A whole new thing.
– And it’s a big money maker. – Its a massive money
maker, and I think that the U.S is going through it’s own kind of. It’s getting to grips with
it, because I see both, Listen I’m a huge Airbnb
fan, which is maybe one of the reasons I got the show. But I see that this is
a progressive frontier for people that own real estate. I mean shit they bought it, so why can’t they so with it what they want? – Right.
– That’s kind of my feeling, but I do see both sides if
you live next to a house that’s constantly Airbnb
to partiers, I get it. So, there has to be some
kind of legislation or rules, or guidelines what have
you and it’s an industry that’s emerging and those
guidelines are falling into place. – Right.
– Like for example, in L.A it recently got passed
that you now have 120 days of your primary residence be Airbnb, but then the rest of the
time you have to live in it. So, I don’t really know how
they’re going to work that out. – By little people sitting
on their front yard going She in there? (laughing) – I know, right? That’s a hundred and thirty-five days. I’m calling the Airbnb police. – It will be really interesting. – If you are able to buy a
second property in an area where there aren’t
restrictions, the ratio is this, and don’t write in and
kind of pin me to the wall, but the ratio roughly,
very roughly, is this if the location’s good,
if the amenities are good, meaning restaurants, like the
beach maybe, or a town strip, or you know a main street,
something like that. If you do short term rentals, you can earn approximately double
the money you were gonna from regular rent, and if
you’re in a less seasonal place like L.A. or Florida or
you know somewhere where you don’t really get the winter months. Although the winter months
as a concept are really big. There is a massive Airbnb
community in Hanson which we did part of the shows there. – Yeah, but it’s freezing.
– But it’s freezing. Oh my god, it was so cold! But Airbnb, if you are, I
met people through the show that literally made millions
of dollars through Airbnb. Millions of dollars. It’s such a massive subject to even begin to cover right now. But, I think Airbnb is something
that is just so important I mean, case in point
is this, let’s use this, if you’re wanting to have
maybe an apartment on the beach in Cabo. Right?
– Right. – Having a place sit empty,
or having longterm leases, it’s a nightmare, but now
because of this thing. You can run a business
from anywhere in the world. You can see what’s going on.
You can speak to the manager that’s managing the unit, or
you can manage it yourself. It’s just absolutely brilliant. – Golden.
– It’s gold! And to have property, that
you can book out weekends whenever you want to use it,
and then feathering around that other people are paying for your mortgage and paying for your taxes
and making a profit. It’s a no brainer.
– Thank you. – You’re more than welcome. I love this lady. I love her so much. I discovered this sound
(fist pump music noise) which is my deep love,
which is house music. – That’s like head phones, do it again. (repeating fist pump music noises) – That’s, now you look like a DJ. (whooshing)

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