Airbnb is booked and busy!
Going into 2021 financial planning my goal was all about diversifying! If 2021 taught me anything it was that it is super important to not have all your eggs in one basket! I’m not going to lie, at the beginning of 2020 I leaned heavily on exclusively Airbnb investing. We made a lot of money, and going into 2020 I was expecting to make even more. I was excited, to say the least!
Then March hit and I lost $19,000. Yes, you read that correctly $19,000. It was nerve recking, depressing, and all of the above. I converted at least 3 of my properties from Airbnb to long-term rentals and the other properties that I hosted on Airbnb I converted to longer guests like nurses and other people looking to stay between 1-3 months. This worked really well and kept the lights on for us! We even decided to sell one of the properties that we had on Airbnb to a good friend of ours!
Now with over 62% of adults in the US with at least one vaccination, the travel industry is back! I’ve switched back to short-term guests again and we are booked and busy! I’m even going to try my hand in hosting travel nurses on a service called Furnish Finder! I’ll stay tuned to tell you more about my journey with setting up our new rental soon.
When you talk about side hustles and working towards building wealth to supplement your income Airbnb is the fastest and easiest way to reach your goals within your own space.
If you are thinking about setting up a short-term rental and you’re not sure where to start I created a course last year about how to make money on Airbnb. Click the link below to buy my course and enter the promo code EBINVEST for a special 20% off discount for being here.
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