This is how much our TINY Airbnb makes | 5 Year Analysis
Вставка
- Опубліковано 27 бер 2023
- 5 years ago we purchased and launched our very first property on Airbnb - a 450 square foot, 1 bedroom apartment in need of major renovations. We were inexperienced, over-leveraged and tbh, terrified. Let's look back at the purchase process, annual performance, financials and how we launched our first short term rental property.
________________________
First time Airbnb hosts can earn $40 by signing up through our link:
www.arrivls.com/airbnb
____________________________
Connect with us:
kyleeandsteven
Personalized, one-on-one coaching:
calendly.com/kyleeandsteven/str
____________________________
Short term rental hosting tips for beginners | Airbnb case study | House hacking
I am watching this video lying here on a double bed in the smallest motel room I have ever been in writing this comment with my tablet perched on my chest because my husband is using the only chair and counter space in the room to read his email on his lap top. Right now, our guests are probably soaking in the hot tub, blasting the furnace with the front door wide open and listening to John Coltrane on the outdoor speaker we provide. 😂 Whoever said making money was easy was rich.
😂😂 I feel ya!
“Blasting the furnace with the front door wide open” 🤣
I love the no-nonsense, no filler delivery. Extremely helpful. Very down-to-Earth. Thanks!
The real-life information you share is so helpful and enjoyable to listen to - thank you for keeping it honest and authentic. Congrats on your success, so very cool. Cheers from Wisconsin.
Always appreciate your supportive comments, Bill!
This was a really refreshing breakdown of what it's like to get going! I love that you guys were so candid with your numbers - there are too many "influencers" these days selling the STR life as glamorous or whatever when in reality it is a lot of putting off your own needs (living in small spaces, over leveraging, on call 24/7) and sacrifice unless you're rich.
Glad you enjoyed it and thanks for watching!
your videos are amazing. I am closing on my first STR in a Florida beach town that we rented for a few months during covid and go back for a couple weeks every year. I've been stressing how tiny it is (886 sf) so your video definitely made me feel better. :)
I love that your videos are so organized! I can't give all the numbers that you do, but I bought my little foreclosed house 13 years ago and got part of it on AirBnb in 2013 (I was the third AirBnB host in my area at the time; now there are probably 3,000). It was almost impossible to get a mortgage in 2010, so I cashed in my entire IRA to purchase and renovate everything and everyone (including me) thought I was nuts. Now I am retired and instead of an IRA, I have a very consistent rental income and a vastly appreciated property with a STR that is 95% occupied. Like you, I am not saying it would be the right choice for everyone, but it was worth it for me...
I love you guys! My husband Kyle and I are just getting started on our STR journey. We just purchased a one bedroom one bath condo in Alabama. We are not far from Gulf Shores and are close to Mobile and Pensacola as well. It's really a great location.
I've had so much fun decorating, planning and organizing. Thanks to you and your very helpful videos I feel much more prepared for our first guests! (We're going Live this weekend.) I wouldn't miss one. I have been watching and rewatching them.
Thanks so much, Amanda! And congrats!! That sounds like an awesome location - we loved our time in Gulf Shores. Drop a link to your listing once you’re live! 🥳
I am ready to take the short term rental step!!!
Wow Guys I Like what you did to the coins 🔥🔥🔥 what a way of building a Credit score. I'm hooked to this🔥🔥🔥
Great video. My fiancé and I have too many properties between us, so I'm researching STR. It sounds like a nice problem to have but seriously none are in shape to rent short term or otherwise. This is going to take a lot of work.
Thank you for the transparency!
I did some of those weekend trips in the US ..some of my best vacations :)
Congratulations!🥳 I'm renovating a bedroom with an ensuite bathroom into a studio. Constructing a full apartment size kitchen, dining area, and own entrance. I'm very hopeful.🤞 July is my planned opening month!💃
We just purchased an existing STR near Portland TN so we could be close by to our grandchildren. We are excited about the opportunity and we are learning so much. I have my first guests this weekend, so fingers crossed everything goes okay. We still have some work we want to do but since it had been rented prior to our purchasing it, we felt okay with listing and opening it while we make small improvements along the way. Thank you for all of your helpful tips and videos.
Love that you purchased in a location where you'll get to use and enjoy the house as well!
I really appreciate all you do. We did a 1031 exchange of an FTR in AZ for an STR at the Oregon Coast, and it has been so nerve-wracking and also such a great problem to have. Your videos make me feel less alone!
Guys, that’s incredible! Not bad at all, considering all the other revenue-making irons you have in the fire! Congrats!
Thank you guys! We have been watching your all your videos and we appreciate all the content! We are in Odessa, Texas and have been hosts for 2 1/2 years (3 properties). God bless!
Thanks for watching, Miguel! Are your properties in Texas, too?
@@kyleeandsteven Yes, one of them is in Odessa and the other two in Midland (30min drive). We started with house hacking too!
Great story and thanks for sharing!!
love the break down!
I’m so happy that I ran into you today. I’m just getting ready to Airbnb a room in my house. It’s a little nerve-racking, but I have to do it for a little extra income. Thank you for sharing this video. It was very very helpful.
I'm just getting to the end of a little renovation project and researching short term renting a small place I bought late last year 🙃
How exciting! Let us know how it goes!
I just bought a lake side cottage as a secondary residence so I can turn it into an AIRBNB (actually signing in 1h). I planned it so that so my salary alone can take care of the mortgage but the goal obviously is to pay itself and perhaps some of the capital. I bought most of the furniture that was already in the house and got a good deal. The idea now is to finish things up, find a local cleaning lady (since its 1.5h away) and making the home "smart". Its not listed yet and I have already weeks booked so I'm pretty excited about it. Not sure about the price yet so I started low... wish me luck :)
Thank you guys for sharing. Really inspiring.. Keep on sharing ya.
I'm also just stated my serious journey in short term rental in my country in malaysia in a small island (2yrs). Hope I do well.
Just getting started you guys are inspiring
Best of luck to you, Rese!
Starring you guys are awesome
Nice! $100k net is good! We host in KC and only do about $16k net ($30k gross). What has been your experience with "AirB&Bust"...are you still hitting occupancy in the 80s?
What type of insurance did you use for this monster airbnb? Insurance can be pretty expensive but you stated you spend even less than $1600. Please share some knowledge! 😅
Just found your channel, and it's great! I'm thinking of renting my spare room on AirBnB, what are your thoughts, and any advice you can give? I live in a really popular beachside tourist area in Sydney, Australia so I definitely think demand is there.
I live in Indio i really want to get started would love some suggestions congrats on what you guys are doing!!
I’ve been watching you guys for months. ALWAYS SOOOO INFORMATIVE!
FINALLY I’m ready to get a or some units. What can I do or is there an option to get your assistance???
Hey Sheila! We do offer personalized consulting on a (very) limited basis, as our schedule permits. There’s a link to our calendar in the video description to learn more. 😊
@@kyleeandsteven Thanks I'll be right on over☺☺
Just came across your channel and have been watching very episode. I am trying to get started and totally overwhelmed as I am dividing my current home to accommodate a 2 bed 1 bath Airbnb. Do you offer consultations?
Hi Vanessa! Yes we do. Here is a link to our availability calendar:
calendly.com/kyleeandsteven/str
For me when I started I have no idea what I was doing. I use my phone as will to upload put on Airbnb . So my story is smiliar. What I want to ask you how can I get landlords to rent me there property I am look to expand now.
That was an amazing decision. It just shows how important location is. I'm looking for my next property, but it's been a challenge to find one that has enough cash flow to make it work.