Is Airbnb hosting an extra room in your home a profitable decision? If you’re today’s guest Amanda, then definitely! Amanda is bringing in an extra $1,000+ just from renting out a couple of extra spaces in her owner-occupied home. If she turned these both into full-time short-term rentals she could be bringing in thousands a month, on top of her income from two jobs!
With this house hacking model that Amanda is using, she’s able to get owner-occupied financing with lower interest rates and better terms. So what if she could start doing this with other houses and slowly grow a short-term rental empire? As Scott and Mindy discuss, it’s possible!
~~~~
Join the BiggerPockets Money Facebook Group:
https://www.facebook.com/groups/bpmoney
~~~~
Short-Term and Vacation Rental Discussion 👇
https://www.biggerpockets.com/forums/530-short-term-and-vacation-rental-discussion
~~~~
Pre-Order Short-Term Rental, Long-Term Wealth
https://store.biggerpockets.com/products/short-term-rental-long-term-wealth
~~~~
Avery Carl’s Short-Term Rental Interview:
https://www.biggerpockets.com/blog/biggerpockets-podcast-364-avery-carl
~~~~
Follow Scott and Mindy on Instagram:
@scott_trench or https://www.instagram.com/scott_trench/
@mindyatbp or https://www.instagram.com/mindyatbp/
Episode 216
Show notes at: https://www.biggerpockets.com/moneyshow216
0:00 Intro
3:29 Profit/Loss Statement
8:03 Financial Goals
11:09 Airbnb-ing Extra Space
19:11 Creating a Short-Term Rental System
24:24 2 Short-Term Rentals Strategy
30:17 Owner Occupied Airbnb Rentals
34:11 Time Savers in Short-Term Rentals
37:39 Owner Occupancy Requirements
41:15 A Strong Path Forward
47:10 Reviewing Amanda's STR Story
0 Comments