2 Ways to Start your Airbnb on a Shoestring Budget.
You might want to become an Airbnb host but simply may not have the funds to purchase a home and set it up. Following are two ways you may consider that might work for you in your current situation.
1. Rental Arbitrage.
Instead of purchasing a home why not rent one and sublet it on Airbnb?
In order for this to be a viable option, you would need to get permission from the landlord.
You should definitely consider that any potential landlord will be askance of you running a business out of their apartment. You can reassure them that having an Airbnb will ensure that you maintain the property better than any long-term tenant ever will. There is no way to keep your 5-star ratings if things start to fall into disrepair.
Make sure you discuss beforehand who will be responsible for major appliance repairs as these will take a beating more than your average long-term tenant.
Although this is a quick way to get an Airbnb up and running, be mindful that it might take you a few months until you start getting nightly rates that will make your listing positively cashflow. If your contract is 12 months, you might be profitable only from month 4 and on.
Your best bet is to try to get a lease period for 24 months or longer if you can.
2. Glamping
Set up a luxurious camping experience! Glamping is a contraction of "glamorous camping". You can get a Lotus Belle tent for a few grand purchases some quality furnishing and you can have your set up at under $5000.
https://www.treetopbuilders.ne...
Glamping can be anywhere from a simple Lotus Belle tent to a luxurious treehouse. Although there is generally no equity value acquired with the passage of time, you do have the ability to charge nighty rates above what you would generally get for a traditional house.
The drawback with glamping is that you will most likely need permissions from the zoning departments as well as have the camping spot services more frequently than a traditional home.
You can learn more about Rental Arbitrage from Sean Rakidzich from his Airbnb Automated Youtube Channel.
If you wish to learn more about glamping you can follow Robuilt on his YouTube Channel or Sarah Riley (UK based but very relevant) on Inspired Courses.
https://www.inspiredcoursesvip...
I have studied these two options in-depth. Should you like to learn more about these two options please hit me up in the comment sections.
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