All Forum Posts by: Patricia Taveras

@John Matthew Johnston

Hi John. My husband and I are doing great with this. We have three Airbnbs in nice B neighborhood as well, and we're killing it. We have a little more tourism than we thought we would have when we got started - we're in a small city 35 miles from the beach in NC. But a lot of our guests come into town for work or to visit family. Our lowest monthly occupancy rate so far has been 85%. We are cash flowing over $1,000 a month per house. Our only "slow" months in our area are January and February- and honestly we did extremely well those months this year.

@Ivan Casale

Hi Ivan. I live in NC. It is an attorney state. You will need to close with an attorney. I found my closing attorney through a realtor/friend who also invests.

@Madeline Burke

Yes! My cash flow has been over $1,000 a month per house on my three Airbnb houses so far in 2021. I self manage but keep it as passive as possible through automatic messaging. I have a great housekeeper, yard guy, and bookkeeper. So glad I went for it!

@Matthew Jones

Hi Matthew. Get Paid for Your Pad - book and podcast - taught me most of what I do with Airbnb. Great resource.

@John Liaaz

Hi John. I just this year am surpassing my W2 income with just 5 single family homes. Two are mobile homes which cash flow more than regular houses. The other three are stick built 3/2s in the best school district that would make great long term rentals if I ever need to pivot, but my husband and I have these listed on Airbnb. I was very purposeful in trying to maximize cash flow. I will continue to work my W2 job for the next two years in order to build up some more cash reserves, buy a couple more houses, and build up two years of really strong rental income history to show to banks in the future so they will keep lending to me! In the meantime it feels good to know I am going to work because I choose to and not because I have to. And I am starting to see how people live off cash flow.

@Chris L.

Hi Chris. I have 3 three bed two bath homes on Airbnb in New Bern. They are absolutely killing it. I just got financial reports from my bookkeeper a few days ago, and so far in 2021 I'm averaging $1,000 net a month between my current 5 properties - two long term rental mobile homes and these 3 Airbnb's. I just surpassed my W2 income. The Airbnb's have done better than I projected when I bought them. I am so grateful to Bigger Pockets for teaching me almost everything I know about analyzing and purchasing real estate and to a book and podcast called Get Paid for Your Pad for teaching me most of what I do in my Airbnb business. If you have any specific questions about getting started please feel free to reach out. The decision to do Airbnb has been life changing for me. Good luck!

@Ivan A. Luciano

Hi Ivan. I have placed a double wide mobile home on a lot and titled it as real property once. The guy who moved it for me had more experience with them than I do. He told me to make sure to pour the footers/ foundation a certain way to make it financeable through a bank for potential buyers. I did this even though I chose to hold it and rent it out. You'll need to check the zoning on the lot with the city or county to make sure you are able to put a mobile home there - they aren't permitted everywhere. Also consider how you will pay for everything. Getting that mobile home moved and set up was completely different from buying a house with a mortgage. Honestly, I'm glad I've done both. I learned a lot. I hope this helps. Good luck!

@Daniel Kyle

Get paid for your pad

@Joel Warren

Are you looking at a property in Richlands?

@Chris Gottshall

Hi Chris. I have always had a flexible cancellation policy (I've been operating since before Covid) because I read somewhere that a flexible policy can make people feel more comfortable booking a place, and therefore boost occupancy rates. The first time someone cancelled my heart sank and I questioned my decision. But I got another booking within an hour. Since then I have maintained flexible cancellation policy. Surprisingly, I did well during the height of the pandemic. Often guests promise to book later dates and they often do. I just checked my stats before this post. I have a 20% cancellation rate and an 81.5% occupancy rate over my last 365 days. I know this wasn't what you were looking for, but it has worked for me. I wish you the best!