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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: Comar on April 05, 2019, 04:38:06 AM

Title: Full time airbnb
Post by: Comar on April 05, 2019, 04:38:06 AM
What does it take to do airbnb full time? Let us say I have a rental in mind with 4 bedrooms, kitchen, seperate toilet and bathroom. I know airbnb takes a lot of work with cleaning, booking etc. but assume I am willing to make it a full time job, not just semi-passive. Pimp it like crazy, weekends and all, to make it a full time thing. I know there are a million factors to consider, like do I have mortage payments on the house, what are my living expenses etc.

My question is just do you, or do you know someone, who has made it a full time thing and what are your/their scenarios?

Thank you.
Title: Re: Full time airbnb
Post by: waltworks on April 05, 2019, 08:21:20 AM
If you want airBnB to be a full-time gig, you'll need more than one property.

I mean, I guess if you have a mansion overlooking Central Park that rents for $20k a night, you could make that a full time gig. If you are talking about a relatively normal place, you're not going to make dramatically more money than you would renting long term most places. The nightly rental market is super saturated at this point.

We yanked our AirBnB and rented it long term. Not worth the work for essentially zero extra money.

Title: Re: Full time airbnb
Post by: jwright on April 05, 2019, 08:39:06 AM
Multi-family.  You live in one unit and Airbnb the other four.  We have a triplex that nets about $35k after all expenses and debt service.  It can be a 24/7 job (with some downtime of course), weekend work, after hours calls etc.  Once it is set up, most of the tasks are pretty menial. I don't know how much you need to support your lifestyle but I agree that one property probably won't cut it.
Title: Re: Full time airbnb
Post by: Comar on April 08, 2019, 02:49:51 AM
Thank you two for your insights. I guess what I have in mind wouldn't be enough to sustain myself completely.
Title: Re: Full time airbnb
Post by: Comar on May 27, 2019, 02:08:08 PM
I just wanted to bring this back to life if anyone wants to add to the discussion.
Title: Re: Full time airbnb
Post by: Peachtea on May 27, 2019, 02:18:50 PM
Have you seen the afford anything blog series on doing Airbnb?

Itís been awhile since Iíve read it, but if I remember right, the short version is she made more money doing Airbnb than renting long term although it was more work. Airbnb requires looking at rentals from a hospitality and service perspective rather than just a real estate investment. Like others above said, while youíll make more than long term rentals Iíd be surprised if you could bring in enough from just one rental to be your sole source of income.
Title: Re: Full time airbnb
Post by: Comar on May 27, 2019, 02:27:15 PM
Thank you I have not seen this. Going to check it out tonight :)
Title: Re: Full time airbnb
Post by: FallenTimber on May 28, 2019, 06:14:32 AM
We AirBnB our home (an 1,100 square foot cabin) for most of the spring and summer months.

Itís our primary residence so we live and travel in our camper about 120-150 nights per year. We love traveling and camping, so to us, itís essentially being paid to go camping, see the world, and have the time of our lives.

It brings in about $30k each year. We pay our house cleaner $100 per cleaning, or about $2,500 total. Keep in mind we only rent for 4-5 months of the year, and we live in the house for the other 7-8 months.

Weíre very hands off and never see our guests, nor do any work or cleaning on the house. We can travel for months at a time. I hesitate to call it passive income, but itís extremely close.

It has allowed me to quit my full time job and has been a total game changer for my family.

Not sure if AirBnBing your primary residence is an option, but it may be more lucrative and profitable.