Airbnb

I bought some real estate a few months ago, renovated, and now furnishing to list on Airbnb starting in March. 

Does anyone have any experience with this? 

I’ll tell you one thing I noticed … there’s a MAJOR difference in time, energy and money between renovating to flip or rent vs completely furnishing a place for a short term rental. 

After some research I believe I can make approximately 300% more annually doing it this way. 

Thoughts? 

How well the ABNB does will depend on location so it could be true in some case and not in others.

Listed one a week ago and the hits are coming in fast and furious. 

I think it’s under priced? 

Not sure how I feel about these traveling nurses and their big discounts for extended stays? 

Kind of risky giving 33%+ discounts … but also kind of risky not accepting them. 

The biggest headaches is hoping your place doesn’t get trashed and ruined, I heard from my friend his buddy rented out his ABNB and the place was messed up pretty badly.  Don’t know all the details but not easy money with those kind of potential headaches.

Yeah, making money without the risk of a headache is nearly impossible. 

If you have any options please let me know. 

I remember when I was 28 (2010) and bought my first multi family 9/10 people insinuated that it was a bad idea, massive headache, and a massive risk. And this was at a time that 1 out of the 3 rents covered the mortgage. 

I have 8 people booked so far. 

It’s a small beach town about 30 minutes north of Boston. I have the dates blocked until the middle of March. 

Will report back once the people start coming and going. 

Just do your best to get positive reviews even if you have to not charge a guest for something they were responsible for … eat it if you can and then you’ll land on the landing page eventually and be booked all the time 

14 bookings 

1st guy checked in a few days ago for 30 days 

Might buy another place to Airbnb or turn one of my LTR into a STR. The one I have is in a great spot though. I think that’s why it’s doing so well. 

27 bookings. 

I have white towels, white sheets, white comforters etc … after each guest I think we’re going to have to throw stuff away but sure enough the stains have come out so far. 

Had to change out a faucet the other night. 

Thinking about giving it to a management company but I know they won’t do as good of a job. Plus I can use it to let my girlfriends 11 year old go over and clean up and earn some money that we would have given him anyways. 

I would say so far so good. 

Nearly all booked up for the next 6 months 

In hindsight I wish I did three things 

— 4 night min instead of 2 night min — maybe even a 1 week minimum 

— had higher prices on anything further out and dropped prices 2 month and then dropped further 1 month out 

— higher weekend rates — I did this eventually but a little late 

This has been more successful than I thought it would be 

My buddy into it bigtime in a vacation spot in our province....absolutely kills it. And very minimal work for the most part unless u rent to the wrong people

Sounds like u doing well....I debated the landlord game myself but might wait til I get to my 40s and see of the east coast Canadian market settles down as it is heavily inflated right now with tiny supply and huge demand