Tiny House Airbnb | How much I made with a backyard ADU in 5 months

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  • Опубліковано 14 сер 2024
  • SPECIFIC LINKS MENTIONED:
    Calculator Download: lydiapatel.ck....
    Airbnb hosting with me and my husband as your ambassadors - www.airbnb.com/...
    American Express Blue Business Plus (Signup bonus and 0% APR): americanexpres...
    Novo (fee free biz checking, awesome interface and app): novo.pxf.io/6e...
    Hospitable ($30 credit): hospitable.com...
    AirDNA (free to start): spn.so/l/h2hduqgh
    Pricelabs ($10 credit): pricelabs.co/u...
    Upwork (For finding help e.g. assistants, staff): upwork.pxf.io/...
    Northwest Agent (discounted at $39 only for an LLC): shrsl.com/4869z
    Steadily (insurance): lydiapatel.ste...
    Lodgify: www.lodgify.co...
    --------------------------------------------------------
    We listed our backyard accessory dwelling unit (ADU) on Airbnb! As a solar-powered, passive-design Tiny House with modern finishes, we were completely different from the other offerings in our area. In this video, I will share the financial breakdown of the entire process - how we projected revenue before starting, what our startup costs were, what went into our monthly expenses, and finally, I will share our revenue, cash flow, and cash-on-cash return.
    If you are interested in hosting on Airbnb, I hope this video serves as a case study and gives you a push to get started. Even if you're already a host, I hope this provides entertainment/insight on smaller-market dynamics!
    TABLE OF CONTENTS:
    0:00 intro
    0:31 projecting revenue with analytics websites
    1:28 database limitations
    1:54 market research as a potential guest
    2:23 revenue and ADR projections
    2:44 additional info on how to interpret ADR
    3:49 projecting occupancy
    4:17 projecting revenue
    4:26 startup costs: analytics, interior design, furniture, supplies
    6:01 ongoing monthly expenses
    8:22 how much I made
    10:08 cash flow, cash on cash return
    11:05 did we recover our startup cost?
    11:47 how to apply this information
    13:02 next week + thanks!
    #airbnbsuperhost
    #tinyhouse
    #accessorydwellingunit
    #howmuchimade
    --------------------------------------------------------------------
    I use dynamic pricing and market dashboards on Pricelabs: $10 credit with this link pricelabs.co/u...
    For automating messages to guests/cleaners and syncing calendars across Airbnb/VRBO (even though.. no one booked the tiny house from VRBO..), I currently use Hospitable: hospitable.com...
    I funded my setup cost with the Amex blue card with 0% apr for the first 12 months and paid it back as I earned hosting income: americanexpres...
    Gear:
    DSLR camera: amzn.to/42yAeWK
    Wide angle lens: amzn.to/3CqBosJ
    Microphone: amzn.to/3qGbFKc
    Business inquiries: hello@lydiapatel.com
    IG: ‪@lydiapatelll‬
    Please note the above links are affiliate links- if you click on them, I get a small commission at no cost to you. None of the content is sponsored and all opinions are my own. Thanks for your support! :-)
  • Навчання та стиль

КОМЕНТАРІ • 26

  • @jaileen4112
    @jaileen4112 8 місяців тому +4

    Thank you! Thank you! You are the first UA-camr who has literally explained in detail all the financial expectations for an Airbnb beginner! I now have full clarity on how to run this! Thank you for being honest by letting viewers see your expenses and gains. :)

    • @lydiapatelll
      @lydiapatelll  8 місяців тому +1

      Thank you! I am glad this was useful. This comment made my day. 🥰

  • @richardprock-golan4652
    @richardprock-golan4652 Рік тому +2

    I love this. I have a house (that we also use from time to time) on Airbnb, but I’ve never broken down all the numbers. I need to become more of a numbers person if I want to buy another property. I would like to be more like you!

  • @PrimitiveTim
    @PrimitiveTim Рік тому +1

    Hey this was really helpful and inspiring! This low barrier to entry style of Airbnb way more accessible to most people getting into this than all the other people out there making big money. Also these videos are really well done!

    • @lydiapatelll
      @lydiapatelll  Рік тому +1

      Thank you! That was my hope, to inspire others 😊

  • @BrandonDoyleMN
    @BrandonDoyleMN Рік тому +1

    Very interesting, I like your approach to market research and analysis of the numbers. Thank you for sharing

  • @adventureswithaustin8764
    @adventureswithaustin8764 5 місяців тому

    I see a lot of comments on how much your tiny house is and for custom build it’s so hard to tell because it won’t apply to every city.
    If you or anyone is looking for tiny house designs or consultations we can absolutely help. We assist people in becoming their own GC (cutting out one of the big charges in custom builds) and walk you thru the entire build.
    Our tiny house is almost complete and can’t wait to start hosting!

  • @tshepohlatshwayo7604
    @tshepohlatshwayo7604 11 місяців тому

    Value information, thank you so much

    • @lydiapatelll
      @lydiapatelll  11 місяців тому

      You’re welcome, glad this is helpful!

  • @cwre246
    @cwre246 Рік тому

    Brilliant ideas 😁👍👍👍

  • @bernicetorres8384
    @bernicetorres8384 11 місяців тому

    Great video, I've been thinking about doing this for some time, but don't know where to start.

    • @lydiapatelll
      @lydiapatelll  11 місяців тому

      Thanks! Lots of videos (from myself and others), hopefully you get your answers :-)

  • @jakeb9757
    @jakeb9757 Рік тому +1

    How much cost to build the tiny house? Pre fab or custom build?

    • @lydiapatelll
      @lydiapatelll  Рік тому +2

      It’s a custom build. This is going to be an estimate since we built the whole property (main house and guest) together, but I’m guessing $150k range for the tiny house portion?

    • @MounjarojourneywithPam
      @MounjarojourneywithPam Рік тому

      Was the cost of building your tiny house a part of your first mortgage, 2nd loan or HELoc?

  • @tinachxx110
    @tinachxx110 Рік тому

    How come you don’t even talk about the main points as well? Such as what city is this located in? Or how much did you pay to have the tiny home built?

    • @lydiapatelll
      @lydiapatelll  Рік тому

      The tiny home was part of the original house build, so it’s hard to estimate a cost. If I had to put a number on it, I would say 200k.
      As for city, we are in Minnesota. Towns here are too small and our house is too distinct! I live here with my family, so I hope you understand.

    • @tinachxx110
      @tinachxx110 Рік тому

      @@lydiapatelll thanks that’s very helpful.

  • @brandyburbridge4621
    @brandyburbridge4621 Рік тому

    Are you in a smaller town then?

  • @docimma
    @docimma Рік тому

    Awesome video! Cannot wait to partner up with you! 🫶🏼

    • @lydiapatelll
      @lydiapatelll  Рік тому

      Thanks! Are you also Airbnb-ing? Tell me more!

    • @docimma
      @docimma Рік тому

      @@lydiapatelll I used to Airbnb a townhouse. Now, my son and I are going to build 2 units and a treehouse plus separation landscaping and fencing. Goal is to set my kids up with passive income. He is a high school sophomore. One unit will be trailerable; the other permanent… of.course the treehouse will be permanent too lol. Backyard biz fun is where its at!

    • @lydiapatelll
      @lydiapatelll  Рік тому +1

      @@docimma what a fun project!! I can’t wait to hear how this goes. I feel you on the passive income- I’m thinking if we start now, hopefully we can help set our kids up for college. (Oldest just started kindergarten)

    • @docimma
      @docimma Рік тому

      @@lydiapatelll Absolutely! I am starting late but with networks of strong women combined with my career skills and elbow grease… getting it done! Excited.