$1.9 million from Airbnb last year. That’s my number. And the craziest part? Zero of those properties belong to me. Don’t rent them either. Co-listing is how I did it.
So what does that actually mean? Property owners hand me their keys. Empty units become top-performing Airbnb listings under my management. My cut is 20 to 25% of every booking. No mortgage. No lease. Just execution.
My name is Shaun Ghavami. At 33 I walked away from a $200K banking career, built a portfolio of 24 co-listed properties, and generated over $1.9 million in gross revenue in 2022 alone. Since then, over 1,600 students have gone through the 10XBNB program, and a lot of them started with zero experience and zero capital. Literally zero. Some had never even opened the Airbnb app before signing up.
If you’re searching for an airbnb co hosting course or co-host training that actually delivers, this page is your blueprint. Real numbers. Real student results. Step by step.
Quick thing before we go further. Most “co-hosting guides” online tell you to sign up for Airbnb’s Co-Host Network and wait for leads. OK, sure, that’s one small piece. What they leave out is how to pitch property owners, structure your agreements, automate your operations, and scale past 10 properties without losing your mind. All of that is what this page covers.
What Is Co-Listing and Why It Beats Traditional Co-Hosting
First, let me clear something up because people confuse these two all the time.
A traditional Airbnb co-host helps an existing host manage their listing. Answer messages, coordinate cleaners, handle check-ins. Basically a virtual assistant with a fancy title. Control stays with the host. Small cut goes to the co-host.
Co-listing is a completely different animal.
When co-listing a property, I create the listing from scratch. Take the photos. Write the description. Set the pricing. Manage every guest interaction. Run the entire operation, start to finish, while the owner’s only job is to cash their checks. Built the co-listing model inside 10XBNB specifically for this: full control of the business without the financial exposure of owning or leasing property.
Here’s a quick breakdown of the four main ways to make money on Airbnb:
| Model | Upfront Cost | Risk Level | Your Cut | Control |
|---|---|---|---|---|
| Property Ownership | $50K to $500K+ | High (mortgage, vacancy) | 100% after expenses | Full |
| Rental Arbitrage | $3K to $10K per unit | Medium (lease obligation) | Revenue minus rent | Full |
| Traditional Co-Hosting | $0 | Low | 10 to 15% | Limited |
| Co-Listing (10XBNB Model) | $0 | Low | 20 to 25% | Full |
See the difference? Co-listing gives you the control of ownership with the risk profile of co-hosting. Sweet spot. Exactly what I teach inside the 10XBNB co-listing system.
How I Built a $1.9M Co-Listing Business with $0 Down
Let me tell you the whole story, because the polished version makes it sound easier than it was.
My first Airbnb was a $65/night spare bedroom. Slept in the smallest room in my own apartment. Shared the bathroom with guests. Honestly? Kind of humiliating at times. Worked, though, and it taught me something critical: the actual hosting part isn’t that hard. Taking good photos, writing a solid description, pricing the unit right, being responsive to guests, all of those are learnable skills. What’s hard, what nobody talks about enough, is getting access to properties in the first place.
And that’s where I got stuck for months.
Eventually a pitch came together. Started calling landlords and property managers who had vacant units. Bare bones script:
“Your property’s been empty for 28 days. It could make double or triple what you’re getting in long-term rent. I’ll set everything up, manage every guest, handle every problem. You don’t lift a finger. I take 20%.”
That pitch landed my first co-listing client. Then my second. Then my fifth. Within 18 months, enough properties were generating revenue that quitting the banking job made sense. $175K per month in gross bookings across my portfolio at that point. Actually, let me rephrase that. Wasn’t a clean “I quit heroically” moment. What happened was a panic attack in a Goldman conference room, and the sudden realization that answering 3 AM guest messages sounded better than sitting through another quarterly review. That was my sign.
Here’s the 5-year timeline:
- Year 1: Started with my own spare bedroom ($65/night). Learned the Airbnb platform inside and out. Landed 3 co-listing clients
- Year 2: Scaled to 8 properties. Automated messaging, cleaning coordination, and pricing. Still working my banking job full-time (running on about 4 hours of sleep, which is something nobody should do)
- Year 3: Hit 15 properties. Revenue crossed $80K/month. Quit banking. Went full-time
- Year 4: Grew to 24 properties. Hired my first two team members. Built systems for everything
- Year 5: Grossed $1.9 million. Started 10XBNB to teach the system. Bought my parents a house with co-listing income
That last one still gets me. Growing up, my dad worked doubles at a restaurant six days a week. When handing him those keys, ugly-cried in their driveway for fifteen minutes. For the freedom to take care of the people who took care of me. That’s why any of this matters.
Anyway, back to the tactical stuff.
The 5-Step System to Land Your First Co-Listing Client
This is the section most airbnb courses skip entirely. They’ll teach you how to set up a listing. Getting a property to list on? Two very different problems, and the second one is where the money is.
Step 1: Pick Your Target Market
Start within a 30-minute drive of where you live, because early on you’ll need to handle problems in person. Pull AirDNA or Mashvisor data for your area. What to look for: markets where the average daily rate sits above $100 and occupancy is between 50% and 70%. That gap is your opportunity. Room to optimize means room to prove your value.
Step 2: Build a “Property Owner Hit List”
Most people overthink this. Like really overthink it. Point is, to find property owners with vacant or underperforming properties. Where to look:
- Zillow and Realtor.com (filter for “for rent” listings that have been sitting 30+ days)
- Craigslist rental listings with poor photos
- Facebook Marketplace (rentals with zero engagement)
- Local property management companies (many are overwhelmed and open to partnerships)
- Real estate investor meetups and Facebook groups
- Airbnb’s Co-Host Network (launched October 2024 across 10 countries including the US, connecting property owners directly with experienced co-hosts)
Fifty owners in your first week. Fifty. Sounds aggressive because it is. This is a numbers game, and most of those 50 will say no or ghost you. One or two yeses is all it takes to get rolling, though, and momentum beats perfection. Every single time.
Step 3: Make the Pitch
Now here’s what you’re probably thinking.
“Never done this before. Why would anyone trust me with their property?”
Fair question. Here’s what’s actually happening, though: a pain point needs solving. These owners have properties sitting empty, bleeding money every day that unit goes unbooked. When framing yourself as the person who fixes that at zero cost to them, the conversation changes completely.
Pitch framework taught inside 10XBNB:
- Lead with their pain: “Noticed your property at [address] has been listed for [X] days. That adds up to [X] months of lost income.”
- Present the opportunity: “Properties like yours in [area] are averaging $[X] per night on Airbnb, which comes to $[X] per month, or [X]% more than long-term rent.”
- Remove the risk: “Everything gets handled. Setup, photos, guest communication, cleaning, maintenance coordination. Zero upfront cost to you. My commission is 20% of bookings.”
- Provide proof: “Here’s what I’ve done with similar properties.” (Show screenshots, testimonials, or data)
Even with zero properties under management, this pitch works. Pull market data from AirDNA. Create a mock listing with professional photos. Show them what their property could look like on Airbnb. When pitching my first landlord, my track record was nonexistent. What sold him was market data and enthusiasm. He said yes on the second call.
Step 4: Close the Agreement
Once the owner says yes, get it in writing. Full stop. A co-listing agreement should cover:
- Commission percentage (20 to 25% is standard)
- Who pays for what (cleaning fees, supplies, maintenance thresholds)
- Minimum contract length (6 months to prove the concept)
- Cancellation terms (30-day notice from either party)
- Insurance requirements (the owner maintains their property insurance; you carry liability coverage)
- Property access and key management
Inside 10XBNB, students get a proven agreement template used across hundreds of co-listing partnerships. Protects both sides.
Step 5: Launch and Optimize the Listing
Now the real hosting skills kick in. Keys in hand, your job is to turn that property into a 5-star listing:
- Professional-quality photos (spent $150 on my first photographer, worth every penny)
- A listing title that includes city name and key amenities
- A description that sells the experience, not just the square footage
- Dynamic pricing through PriceLabs (adjusts rates daily based on demand, events, and seasonality)
- Automated messaging for booking confirmations, check-in instructions, and post-stay reviews
- A reliable cleaning team, which is hands-down the most important hire. Period.
First 30 days: get 5-star reviews. Price aggressively if needed. A few discounted stays that generate great reviews will pay for themselves ten times over. Trust me on this one.
What You’ll Actually Do as a Co-Lister (Day-to-Day Operations)
“What does your actual day look like?” People ask this all the time. So here it is. Running 24 properties, my daily routine took about 2 hours.
Morning (30 minutes):
- Check messages from overnight guests
- Review today’s check-ins and check-outs
- Confirm cleaning crews are scheduled
Midday (15 minutes):
- Quick scan for pricing adjustments on upcoming gaps
- Respond to any booking inquiries
Evening (15 minutes):
- Send check-in instructions for tomorrow’s arrivals
- Follow up on any maintenance issues
Weekly (1 hour):
- Review revenue numbers across all properties
- Adjust pricing strategy for the coming week
- Communicate with property owners (monthly revenue reports)
Two hours. Maybe more on turnover-heavy weekends. Rest of the time? Mine. Gym in the morning, growth work in the afternoon, family in the evening. That’s what this business looks like when it’s built right.
And look, the 2-hour thing only works because of systems. Automated guest messaging through Hospitable. PriceLabs for dynamic pricing. Cleaning teams with their own scheduling app. Front-load the effort, build the machine once, and then it runs itself. Which is exactly what gets covered in the 10XBNB mentorship program, by the way.
How Much Money Can You Make? Real Numbers from Real Students
Math first. Then proof. Healthy skepticism is reasonable here, and real numbers are the best cure for it.
Revenue Math for Co-Listing
Say you co-list a property earning $3,000 per month in gross bookings, which is roughly a $100/night property at 50% occupancy (close to the U.S. average according to AirDNA’s 2025 market report). At a 20% commission, that’s $600/month from one property. Doesn’t change your life on its own. Watch what happens when adding more, though.
| Properties | Gross Monthly Revenue | Your 20% Commission | Annualized |
|---|---|---|---|
| 1 | $3,000 | $600 | $7,200 |
| 5 | $15,000 | $3,000 | $36,000 |
| 10 | $30,000 | $6,000 | $72,000 |
| 20 | $60,000 | $12,000 | $144,000 |
Twenty properties, $144,000 per year in commission income. Zero property ownership, zero lease payments, zero mortgage risk. And honestly? My portfolio averaged well above $3,000 per property per month because of strong market selection and obsessive pricing optimization. Some properties pulled $6K to $8K monthly during peak season.
Real Student Results
Enough about my numbers though. Here are actual results from students who went through 10XBNB training:
- John (Vancouver, Canada): Landed 4 co-listing clients in his first 90 days. Grossed $50,000 in his first 3 months. Was working full-time in construction when he started. Now runs his co-listing business full-time
- Javon (Arizona): Started with zero Airbnb experience. Zero. Picked up his first 2 properties within 6 weeks of joining 10XBNB using the exact pitch framework from above
- Gian Marco (Florida): Came from a hospitality background, applied 10XBNB systems to co-list vacation rentals in South Florida, and scaled to 8 properties within his first year
- Cindy (Seattle): Single mom who started co-listing as a side hustle while working a 9-to-5. Built her portfolio to 6 properties and eventually quit her day job
- Robert (California): Retired military. Used the co-listing model to build a second income stream. Now manages 12 properties in San Diego
Every one of these people started exactly where you are right now.
Co-Listing vs Rental Arbitrage vs Property Ownership
People ask me this constantly: “Shaun, should I do co-listing or rental arbitrage?” My honest answer might surprise you.
Rental arbitrage means signing a long-term lease on a property, then listing it on Airbnb and pocketing the difference between lease payment and nightly bookings. Can be very profitable, sure. Real financial risk comes with it, though. If bookings dry up during a pandemic or slow season, that lease payment is still due. Every month. Zero exceptions.
Co-listing eliminates that risk entirely.
Never sign a lease. Never owe rent. Worst-case if a property underperforms? Less commission that month. No debt. No sleepless nights wondering how to cover rent on a property you don’t even live in.
That’s why co-listing works as the starting point for anyone new to short-term rentals. Build cash flow and experience first. Once money is coming in and the business makes sense day-to-day, those profits can fund rental arbitrage deals or even property purchases. Starting with co-listing gives a zero-risk way to learn the whole game before betting real money on it.
Quick comparison for someone starting from scratch:
| Factor | Co-Listing | Rental Arbitrage | Property Ownership |
|---|---|---|---|
| Startup cost | $0 | $3K to $10K per unit | $50K to $500K+ |
| Monthly obligation | None | Lease payment (fixed) | Mortgage + taxes + insurance |
| Downside risk | Earn less commission | Personal liability on lease | Foreclosure, market decline |
| Income per property | 20 to 25% of revenue | Revenue minus rent (variable) | 100% of profit after expenses |
| Speed to first dollar | 2 to 6 weeks | 4 to 8 weeks | 3 to 12 months |
| Scalability | High (no capital needed) | Medium (capital-limited) | Low (capital-intensive) |
| Best for | Beginners, side hustlers | Experienced hosts with capital | Investors with deep pockets |
Tools and Systems Every Co-Lister Needs
Early on, everything was manual. Messaging guests from my phone at 2 AM, updating a spreadsheet for cleaning schedules, adjusting prices by hand every morning before work. At 1 or 2 properties, that’s manageable. Past 10? Burnout hits fast. Ask me how I know.
Tools used and recommended to every 10XBNB student:
- PriceLabs: Automated dynamic pricing that adjusts nightly rates based on local demand, events, day of week, seasonality, and competitor pricing. This alone can increase revenue 15 to 30%
- Hospitable (formerly Smartbnb): Automated guest messaging. Sends booking confirmations, check-in instructions, mid-stay check-ins, and review requests automatically
- Turno (formerly TurnoverBnB): Connects with local cleaning teams and auto-schedules turnovers based on your Airbnb calendar
- Breezeway or Properly: Property inspection checklists and maintenance tracking
- QuickBooks or Wave: Accounting and expense tracking (needed for tax time)
- Google Sheets: Still use a simple spreadsheet to track owner payouts, property performance, and KPIs. Nothing fancy. It works
- A good camera (or hire a photographer): Professional photos are the single biggest factor in booking conversion. Period.
Total monthly cost for this stack: about $100 to $200 depending on property count. A fraction of the extra revenue these tools generate.
One thing (and this matters more than people realize): don’t build a custom tech stack on day one. PriceLabs and Hospitable first. Those two save 5 to 10 hours per week per property. Add the rest past 5 properties. By 10, the full stack is non-negotiable, but at 1 to 3? Keep it simple. Best system is the one that actually gets used consistently.
Oh, and don’t sleep on Airbnb’s built-in host dashboard. A lot of new co-listers forget it gives occupancy data, revenue tracking, and review management for free. Check performance metrics weekly. Compare occupancy and average nightly rate against market average. Underperforming? Almost always pricing or photos. Almost always.
How to Scale from 1 to 10+ Properties
Getting that first property is the hardest part.
Once the first listing goes live and the first 5-star review comes in, something clicks. Wait, actually, no. Let me back up. What really happens is spending two weeks checking the Airbnb app every 45 minutes waiting for a booking, convinced it’ll never work, and then suddenly three reservations come in on the same Tuesday afternoon and it hits: this is real. THEN something clicks. And then the question shifts from “can I do this?” to “how fast can I grow?”
Going from 1 to 5 is proof of concept. From 5 to 10+ is about systems and people. Here’s the timeline given to every student inside 10XBNB:
Days 1 to 30: Foundation
- Decide on your target market
- Build your owner hit list (50 names minimum)
- Create your pitch deck or one-pager
- Start outreach (10 contacts per day, minimum)
- Land and launch your first property
- Price aggressively to build reviews fast
Days 31 to 60: Momentum
- Optimize your first listing based on guest feedback
- Continue outreach (don’t stop pitching just because one owner signed)
- Land properties 2 and 3
- Set up PriceLabs and Hospitable to automate pricing and messaging
- Build your cleaning team (interview 3 to 5 cleaners, test each one)
Days 61 to 90: Proof of Concept
- Should have 3 to 5 properties under management by now
- Create an owner report template (send monthly revenue updates to build trust)
- Ask satisfied owners for referrals (“Do you know anyone else with a property that could benefit from this?”)
- Evaluate: Is this market working? Are properties performing? If yes, double down. If not, adjust market or pricing strategy
Beyond 90 Days: Scale Mode
Once the model is proven, scaling is rinse and repeat. Every new property follows the same playbook: pitch, sign, photograph, list, optimize, automate. At 8 to 10 properties, hire. A part-time operations coordinator handling day-to-day messaging and cleaning coordination frees up time to focus entirely on growth.
Full disclosure: didn’t hire anyone until property 12. Should have done it at 8. Time is worth more spent pitching new owners than texting a guest about where the extra towels are.
And here’s what surprised me about scaling. It actually gets easier, which seems backward but isn’t. Every new property follows the same system already built. Owner referrals get warmer than the last cold pitch. By property 20, half my new clients came from existing owners telling their investor friends, “Talk to Shaun.” Zero marketing spend. Zero cold outreach at that point. That compounding only happens when owners get treated like partners, though. First 3 properties are the grind. After that? Growth starts feeding itself.
Common Mistakes That Kill New Co-Listers
Over 1,600 students have gone through this process. Some crush it in 60 days. Some struggle for months. Almost every time, the difference comes down to one of these seven mistakes. Made most of them myself, so consider this the pain-saving section.
1. Waiting to feel “ready” before pitching. Ready never comes. Make 10 calls this week. Seriously.
2. Underpricing out of fear. New co-listers often set rates 30 to 40% below market because booking anxiety takes over. Bad move. PriceLabs or studying competitors on Airbnb will give data-driven pricing. Trust the data, not the fear.
3. Skipping the agreement. Partnerships blow up without written contracts. A handshake deal works great until there’s a $2,000 damage claim and nobody knows who’s responsible. Get. It. In. Writing.
4. Hiring cheap cleaners. Cleaners are the only people who physically touch your product between every guest. A bad one will destroy reviews faster than anything else. Pay for quality. Inspect regularly. Replace anyone who drops below standard. Zero second chances.
5. Neglecting the owner relationship. Send monthly reports. Share good reviews. Flag issues before they become problems. Owners who trust you refer friends, real estate agents, property managers. Organic scaling without marketing spend.
6. Trying to manage everything manually. Copy-pasting the same check-in instructions for every guest wastes hours every week. Automate from day one.
7. Flying blind on numbers. Quick test: can you name your average occupancy rate, average daily rate, and revenue per property right now? Off the top of your head? If not, that’s a problem. Track everything. Review weekly.
How 10XBNB Airbnb Co-Host Training Works
Am I biased? Obviously. Built the thing. Here’s what I can tell you honestly, though: this program exists because nothing like it existed when starting out. Believe me, I looked.
Every other airbnb co hosting course was either surface-level (“just list on Airbnb and watch the money roll in!”) or focused entirely on rental arbitrage with no mention of co-listing as a standalone model. Nobody taught it in a structured, step-by-step way. So building what I wished I’d had three years earlier became the project.
What’s inside the 10XBNB program:
- Co-Listing Blueprint: My exact system for pitching owners, signing agreements, and launching listings. Same process that built my 24-property portfolio
- Live Weekly Coaching: On a call with students every week. Questions, feedback on listings, troubleshooting in real-time. Definitely not pre-recorded videos watched alone at midnight
- Property Finder System: Step-by-step method for identifying underperforming properties in any market and turning cold outreach into signed partnerships
- Listing Optimization Masterclass: Descriptions, photos, pricing strategy that maximizes bookings and revenue
- Automation Stack: Complete setup guides for PriceLabs, Hospitable, and Turno so running 10+ properties takes 2 hours a day
- Agreement Templates: Legally-reviewed co-listing agreements ready to customize
- Community of 1,600+ Students: Private group for wins, questions, and partnership connections
Want to know more about how co-listing income works and whether this training fits what you’re building? Best next step is to book a free strategy call with our team.
One more thing. This isn’t for everyone. If the goal is watching videos and having money appear, look elsewhere. Co-listing is a real business requiring real conversations with real property owners and real follow-through when things go sideways (because they will, especially early on). What I can tell you is the math works for those who execute. Went from a $65/night spare bedroom to $1.9 million in annual revenue. Students are building five and six-figure co-listing businesses across the US and Canada right now. Model works. Only question: will you do the work?
Frequently Asked Questions About Airbnb Co-Host Training
Do I need experience to become an Airbnb co-host?
No. Many of our most successful 10XBNB students started with zero Airbnb experience. Javon in Arizona had never hosted a guest in his life and picked up his first 2 co-listing clients within 6 weeks. Communication, organization, basic marketing: those skills are learnable. What matters more is willingness to pitch property owners and follow a proven system.
How much does it cost to start co-listing?
Effectively $0 to start. No need to buy or lease any property. Main expenses in month one: a professional photographer ($100 to $200 per listing), cleaning supplies for the first turnover, and software subscriptions (PriceLabs and Hospitable run about $50 to $100/month combined). Compare that to $3,000 to $10,000+ for rental arbitrage or tens of thousands for property ownership.
How is co-listing different from Airbnb’s Co-Host Network?
Airbnb launched its Co-Host Network in October 2024 as part of its winter release, connecting property owners with experienced co-hosts in 10 countries including the US, UK, Canada, and Australia. Qualifying requires 10+ stays (or 3 stays totaling 100+ nights) in the past 12 months, a 4.8+ star rating, and a cancellation rate under 3%. That network is one channel for finding clients, not a training program. It won’t teach listing optimization, dynamic pricing, or system-building. Co-listing through 10XBNB teaches the full business model, and the Co-Host Network becomes one of many lead sources.
What commission should I charge as a co-lister?
Between 20 and 25% of gross booking revenue. At 20%, the deal is attractive for the owner (they keep 80% while doing zero work). At 25%, still well below the 30 to 40% that traditional property management companies charge. Exact number depends on market, services provided, and property revenue potential. Properties earning $5,000+ per month can often justify 20% because the owner’s net income is still substantial.
Can I do co-listing as a side hustle?
Yes. Ran my co-listing business alongside a $200K banking career for over two years. Once systems were in place, daily time commitment was about 2 hours. Many 10XBNB students start while working full-time. Automation is key: PriceLabs for pricing, Hospitable for messaging, reliable cleaning team. Those three pieces make co-listing fit alongside a 9-to-5.
How long does it take to get my first co-listing client?
Most 10XBNB students following the outreach system land their first client within 2 to 6 weeks. Effort is the variable. Students pitching 10+ owners per week get results faster than those sending a few emails and waiting. John in Vancouver landed 4 clients in 90 days. Javon in Arizona got his first 2 in 6 weeks. More outreach, faster results. Simple as that.
Do I need a business license or LLC to co-list?
Requirements vary by city and state. In most US markets, forming an LLC for liability protection makes sense (costs $50 to $500 depending on your state). Some cities also require a short-term rental permit or business license. Check local regulations before starting. Inside 10XBNB, the legal setup process gets covered for common markets along with guidance on compliance requirements.
What happens if a guest damages the property?
Airbnb provides AirCover for Hosts, which includes up to $3 million in Host damage protection covering property, furnishings, and certain valuables. Beyond that, the co-listing agreement should specify damage handling procedures (typically, the owner’s homeowner’s or landlord’s insurance covers major incidents, while AirCover handles guest-caused damage). Also worth requiring a security deposit through the listing for added protection.
Is co-listing legal?
Co-listing itself is legal in all 50 US states and most countries. Short-term rental regulations vary widely by city and county, though. Some cities require the property owner to register the listing under their name. Others require the person managing the property to hold a property management license. Always research local STR regulations before launching a listing. Airbnb’s own resource center provides regulatory information by market, and local city hall or planning department is the authoritative source for permit requirements.
How is 10XBNB different from other airbnb co hosting courses?
Most courses teach how to list a property on Airbnb, which is the easy part. 10XBNB teaches how to build a co-listing business from scratch: find owners, pitch them, sign them, optimize and automate management so it scales. Live weekly coaching (not pre-recorded videos), proven agreement templates, and a community of 1,600+ students actively building co-listing businesses. Instead of buying a course and figuring it out alone, what you get is a system with a coach, a community, and a proven track record.
source https://learn.10xbnb.com/airbnb-co-host-training/
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