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...
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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
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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
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. :)
Thank you! I am glad this was useful. This comment made my day. 🥰
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!
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!
Thank you! That was my hope, to inspire others 😊
Very interesting, I like your approach to market research and analysis of the numbers. Thank you for sharing
Thank you for watching!
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!
Value information, thank you so much
You’re welcome, glad this is helpful!
Brilliant ideas 😁👍👍👍
Great video, I've been thinking about doing this for some time, but don't know where to start.
Thanks! Lots of videos (from myself and others), hopefully you get your answers :-)
How much cost to build the tiny house? Pre fab or custom build?
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?
Was the cost of building your tiny house a part of your first mortgage, 2nd loan or HELoc?
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?
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.
@@lydiapatelll thanks that’s very helpful.
Are you in a smaller town then?
Yes we are almost like a big suburb
Awesome video! Cannot wait to partner up with you! 🫶🏼
Thanks! Are you also Airbnb-ing? Tell me more!
@@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!
@@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)
@@lydiapatelll Absolutely! I am starting late but with networks of strong women combined with my career skills and elbow grease… getting it done! Excited.