Easily Make 6 Figure Income Renting AirBnb Properties Small Investment
Easily Make 6 Figure Income Renting AirBnb Properties Small Investment. Never has it been so easy to make a solid 6 figure income from the comfort of your home. Don’t be left behind. Now is the time to make serious money renting other peoples property. Be sure to check your local laws before making any investments. Furthermore, be sure to check out my blog on Preparation Execution Reflection and Correction.
It took a trip to Brazil during the World Cup in 2014 to finally give AirBnb a chance. I know for a fact people in Brazil were making a years salary renting places during those 4 weeks. If you’re not familiar with AirBnb don’t worry you could still make a nice profit from it. AirBnb connects short term renters with independent entrepreneurs renting out their rooms, apartments, houses or boats.
If you ever wanted to invest in real estate but never had the capital to do it AirBnb opens up that opportunity for you. Why we love AirBnb and other rental sites. You are able to rent someone’s apartment, furnish it, and profit from short term rentals. If you plan this properly, you will be able to minimize your risk. Live for free, and make enough money to start buying your own properties if you choose.
How is it possible?
In the past you had to purchase a home to make money on real estate. Today you are able to rent a place and offer short term rentals for profit. In the past you had to make a 30 year commitment (mortgage). Then try to rent it out to someone and hope they honor their commitment. Some times they pay sometimes they don’t. Furthermore you had to come up with a large down payment. And regardless of rental payments you had to make monthly payments to the bank. Because today you can take out a one year rental agreement your risk is far less as is your commitment. Today you can easily make 6 figure income renting AirBnb properties small investment.
What do you need?
First you need to do your homework. Research the hotel occupancy rates in you city. The best opportunities come for places with a large amount of tourist and a low or expensive amount of hotels. For example Brooklyn is very popular right now. However the amount of affordable hotels are lacking. Renting someones home for $150 per night is a better option than a hotel for $150 per night.
After finding a location you have to find places which fit your current budget. A great way to stat is to rent a 3 bedroom apartment. If you are single or even if you have a family. Rent out the second or third bedroom as shared private listings. In a short amount of time you will start to subsidize your cost. And make enough to find a secondary place. Do Not take on more debt or home then you can handle.
What is the risk?
If you start off renting your current place to make extra money your risk is zero. Your risk starts to increase when you take on more apartments. You run the risk of having a large amount of supply and no demand. But after renting your own place and seeing demand or lack of demand you will become an expert in your local market.
For example we currently have 10 apartments. Each has a cost of $600 per month. Our daily rental rate averages $79-$120 based on demand. Airbnb has a unique feature of monitoring the demand and creating dynamic pricing. Prices will automatically increase and decrease depending on the amount of demand in the area. That option allows you to relax but you should always market your own property. Use social media and email to directly contact your friends and family. Furthermore you want to post in forums. Forums are a great place to gain traction for your listing.
Stay in tune with what the local and federal government are dong in regards to local laws. As you can see in this article.
What is the return?
Limitless. Once you get rolling you will want to continue to grow. Obtain more properties and build a real business. However be very cautious. Markets change. Locations change. And you don’t want to be left with 10 empty apartments, 20 bg screen tvs and 10 sets of dinning room tables. Those are real outcomes.
Currently we are doing $90,000 profit renting 10 apartments we do not own. We have good furniture but not great. But all of our places are in prime locations. In conclusion start small by renting your own place. Then easily make 6 figure income renting AirBnb properties small investment.