Airbnb - how much do you pay yourself?

[Nick Bruckner]

I have a cousin who self manages several Airbnbs but he doesn’t have much free time and several clients trying to decide how to use their multi family properties. STRs do well here in Alaska, but that’s also when we want to enjoy the sunshine and fishing!

If you self manage your STR (as most people do) or just set everything up on the front end, do you record how much time you spend on it? How much is your time worth? I'm not asking that to make a point- literally- what number goes into your spreadsheet? .

When trying to decide if you want to use a rental property for a STR vs MTR vs LTR you need to know these numbers, because the time you extra you spend working on the STR could've been spent earning money elsewhere. If you add this time into your expenses for the investment (instead of working for free) it brings the cash flows for STR vs LTR closer together.

When you scale, this becomes an even bigger issue. Also, if anyone on here hires someone to run their Airbnb I’d be curious how they structure their fees. Meeting a new colleague who is just getting started managing and curious how others approach it or think about it. @Jamie Rose @Tyler Cobb @Kaiden Foster