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Updated over 7 years ago, 06/02/2017
AirB&B your own home?
Does anyone put their own house up for nightly rental, and when it rents, take a quick "staycation" and take profit and reinvest into their long term portfolio? We decided to give it a try, just built a big beautiful 5/3 3500 FT home and would be open to taking off with little to no notice to make extra money.. wanted to see if anyone else did this?
I don't Airbnb my own place, but just read this amazing blog post on Bigger Pockets entitled "Airbnb Disasters - Is that blood on the ceiling". It would make me re-think putting up my own house for a nightly rental!
I have a friend who does this with his parents in the house he grew up in. His parents still live there even though he doesn't. He makes around 300 a month for simply maintinaing tje Airbnb app. His parents clean the room and everything else
I have gone to visit places I have properties and planned on sleeping their and do maintenance, but I never block off the Calendar for that so I have basically been bought out and made a bit since hotel costs were much lower.
That's how I got started in real estate investing. It is a great way to dip your toes in without committing to being a landlord. There are so many places to stay on airbnb that there are bound to be horror stories but I'm sure it is a very small percentage. I've never had problems. Airbnb has a large insurance policy but I don't think it covers artwork so if you have any expensive art that is something to consider.
Absolutely. Making more money '4 Hour Work Week' Style with travelers than my day job.
Originally posted by @Sean Walton:
That's how I got started in real estate investing. It is a great way to dip your toes in without committing to being a landlord. There are so many places to stay on airbnb that there are bound to be horror stories but I'm sure it is a very small percentage. I've never had problems. Airbnb has a large insurance policy but I don't think it covers artwork so if you have any expensive art that is something to consider.
Yeah we flip 2-3 times a year when the right opportunity shows up. We have owned a few long term rentals, but have focused on growing our businesses for the last two years. They are both much more stable now and we are ready to start acquiring properties again.
Originally posted by @Ken Breeze:
Absolutely. Making more money '4 Hour Work Week' Style with travelers than my day job.
Ken, how many nights a month is your personal place rented? Do you do a few night minimum?
Originally posted by @Blair Russell:
I have gone to visit places I have properties and planned on sleeping their and do maintenance, but I never block off the Calendar for that so I have basically been bought out and made a bit since hotel costs were much lower.
Yeah that was my thought, it's just me and my wife and two yr old daughter so we can go stay at a hotel for $125/night and I think we can get $450-500/ night for our house
Renting out our personal home is how my wife and I started with airbnb. I installed a lock on a closet door where we would put all our personal items when we rented out the house. It was great for income and all our guests were great, but it did get a little exhausting for us. There are times when the pricing value can totally be worth the hassle of packing, cleaning, and moving (like when the pope visited philly), but for ease of life, we ended up just renting out that property to a long term tenant. It was a fun experience though.
@Jordy Clark My family AirBnB's our 4/2 home in San Francisco for $325 a night anytime we leave town for a week or more. Agree with @Jon Ree, it's worth it only for several nights, not just a weekend. We have a 4-night minimum and give a weekly discount. Terrific way to make extra income. This summer we will house-sit/pet-sit for a neighbor for 2 weeks in July and AirBnB our place. Nice way to make the mortgage payment!
@Jordy Clark any where between every weekend to all month.
Thanks for all the replies, Ive taken a few photos, waiting on my photographer to come out. What tips can you guys give me on making my listing as successful as possible? Link below
