AIRBNB CHICAGO profitable or not

[Caressa Wilkinson]

Is there anyone that currently host AIRBNB preferably in (Chicago) or in any major cities? I would like to know if you are getting many bookings since the pandemic and is it worthy of doing vs finding the right PAYING tenant during the crisis? Open to opinions

[Jonathan Klemm]

@Caressa Wilkinson - I have in the past and am again currently doing an AirBnB in Chicago's Logan Square neighborhood.  

I had the exact problem you mentioned above....I was having a very hard time finding tenants during COVID so I made a quick pivot to AirBnB.  The timing was right because I did it after the first wave of COVID, which actually wiped out a lot of the AirBnB inventory.  Many investors who were all in on AirBnB couldn't make it through the extreme vacancy at the beginning.

The other thing about STR is you have to be in a prime location and provide a great product. My unit is close to the blueline, which is a great location. Additionally, I had my friend's wife stage the unit and it looks amazing. All the little details matter with STRs.

Lastly, I am able to self manage and use some cool software (Yourporter and Pricelabs) that automates the process for me.  I am grateful I pivoted, but my alternative was nothing.....so i didn't have much to lose.