Author Topic: Tiny Home Short Term Rental  (Read 1017 times)

fpjeepy

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Tiny Home Short Term Rental
« on: January 07, 2019, 12:16:52 PM »
Has anyone read a book or listening to a podcast that discusses this in detail. I'm trying to educate myself. It doesn't have to be tiny house specific. Maybe another question would be what is the best book on real estate investing specifically for short-term rentals.

*Also I searched and didn't find anything on the forums, but if his has already been discussed please direct me and I'll delete this thread.

waltworks

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Re: Tiny Home Short Term Rental
« Reply #1 on: January 08, 2019, 08:42:48 AM »
https://affordanything.com/the-airbnb-experiment-how-much-did-i-make/

If you search around a little, you can find a lot of good short-term rental info on the Afford Anything blog (and no, I'm not affiliated with it).

Long story short - you can make some extra money if you self-manage, but it's a job. If you already have a decent job, you're better of doing a long term rental in today's AirBnb market. If you have a place that isn't a super hot rental location (ie, if you just live in a normal suburban neighborhood) you probably won't make *anything* extra for your work (this was our experience, and is why we swapped to doing long term).

-W

ilsy

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Re: Tiny Home Short Term Rental
« Reply #2 on: January 08, 2019, 10:10:37 AM »
If you have a place that isn't a super hot rental location (ie, if you just live in a normal suburban neighborhood) you probably won't make *anything* extra for your work (this was our experience, and is why we swapped to doing long term).

-W
Unless, you have a contract with a large University/hospital and host their rotation students for a few months. You need to be affiliated somehow with university/hospital, they don't like to take people from the street. Yes, I don't budget this gig as my permanent income, but it's well worth my time.

@fpjeepy I didn't read anything about short term rentals (well, except of how it's taxed), but I saw an opportunity, tons of students from out of state staying for a few months, only to leave to another state for a few months. Look around and you might figure out who your future tenants could be. No author could possibly know your situation better than you.

fpjeepy

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Re: Tiny Home Short Term Rental
« Reply #3 on: January 14, 2019, 06:52:38 PM »
@waltworks That's that was along the lines of what I was looking for. I was expecting it to be some sort of time commitment. I guess how much is the question. I was hoping to Clear $500/ month with <5 hours a week. That might be a stretch, but I guess I'll need more research there. The only difference is I was looking at Tiny house specific rentals. There can be a larger or small initial investment, depending on a mortgage or cash property purchase. Renting a tiny house as a monthly rental might be more difficult than Airbnb, and a tiny home might actually collect a premium over the traditional apartment for Airbnb, because of its uniqueness and its a fad. I was looking to see if someone how had done this was willing to share their thoughts on it. But like anything else, if it's a great untapped market that is making them a lot of money, they might be keeping quiet about it all.

@ilsy
I'm actually not looking to do it in my area, I'm looking to do it in an area that I would like to move to. I'm having trouble finding a job where  I would like to move to, and I'm thinking it might be a great time to start working towards a more 'mustachian living.' By that, I mean having some income generating assets that I manage, as well as some freelance jobs, and maybe some traditional part-time shift-work. I'm not sure if that is proper usage, but I can't think of a better term right now.

froggie

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Re: Tiny Home Short Term Rental
« Reply #4 on: February 03, 2019, 02:50:04 PM »
Iíll be following this thread because Iíve been rehabbing a tiny house of sort in my back yard and will start renting it out short term (I want access to it for guests part of the year). I also live in a really touristy area and so I am banking on the ďfadĒ.
Keep you posted.
I am posting updates of the construction on IG @homesweetnow.

Good luck!

fpjeepy

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Re: Tiny Home Short Term Rental
« Reply #5 on: February 05, 2019, 08:37:42 AM »
Iíll be following this thread because Iíve been rehabbing a tiny house of sort in my back yard and will start renting it out short term (I want access to it for guests part of the year). I also live in a really touristy area and so I am banking on the ďfadĒ.
Keep you posted.
I am posting updates of the construction on IG @homesweetnow.

Good luck!

Interesting! I'm right around the corner on spa creek!