We are thinking about selling our highly profitable AirBnB

[Tehane Gallimore]

Some people are likely going to laugh at me when I post this, but we own and operate a highly successful AirBnB out of Beech Mountain, NC. We are super hosts, award winners on Booking.com, and consistently are averaging 70% occupancy rates year round. Business is booming and we are cash flowing insanely well and we were super excited about how well things were going, however we have been considering selling it as an investment property to other investors. It might sound silly to some people, but I never intended for the home to become a second almost full-time job, but lately it has felt that way and we are getting a tad burnt out. All of the full service property managers we have spoken to will charge 25% to 30% commission plus don't appear to generate the same revenue so it wouldn't make sense to go that route because we would barely be breaking even for slower months. We feel a bit boxed in with our options so it has been a bit of a struggle. We would prefer to sell the home and reinvest in another BRRRR property which has worked really well for us. The cash flow is no where close to what we are making with the AirBnB, but it is way less maintenance and work once you have solid tenants in place. Not sure if anyone else has felt the same way and if you decided to keep at it or sell off your property? Thanks in advance.

[Ken Boone]

So its 1 property... if that feels like a second almost full-time job, I would try to figure out what components are taking up so much of your time. And then analyze what you can do to either streamline or automate some of these functions. We have 3 properties that are booming like yours as well so I do understand what it takes. But I come back to the idea that 1 property should really only be taking a couple of hours per week. It shouldn't be almost a full time job. What you do really depends on your goals. An STR is an active investment - not passive and there is work involved. The LTRs are almost no work once setup and definitely take up a lot less time. But on the other hand if you are going with a BRRRR method, that rehabbing and/or managing contractors is probably more work than what your STR should be for that period of time.