We Started an Airbnb in Portugal - How To Do It and Lessons Learned from a Superhost
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- Опубликовано: 18 окт 2024
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Our Rich Journey - We Started an Airbnb in Portugal - How To Do It and Lessons Learned from a Superhost: Our Airbnb in Portugal has been up and running for the past couple of months and just this past week - we were just awarded the label of "superhosts" from Airbnb! Because of that, we thought it would be a good time to show you the ins and outs of starting an Airbnb in Portugal. If you want to learn more about Portugal's Airbnb licensing process, the inspection requirements in Portugal, how we set our Airbnb to run on autopilot (i.e., a passive investment!) here in Portugal, or if you just want to learn more about the Airbnb process for ANY location, check out this video!
▸▸▸Check out some of our other videos!
Tour Our Investment Property In Portugal (4 bedroom/3 Bath Villa on Silver Coast of Portugal), Ep. 2: • Tour Our Investment Pr...
Portugal Monthly Expenses - Healthcare, Rent, Food . . . | EARLY RETIREMENT (Ep 2. October Recap):
• Portugal Monthly Expen...
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I’m so glad to hear how successful the airbnb is going! What a magical life! You guys help keep my Portugal dreams alive! Much love to you! 🐐🔥❤️
Aww, thank you so much Angelia!!!❤️
Congrats on the Super Host status and especially running it passively, profitably.
Thank you Doug!!!
Yayyyy Congratulations Amon & Christina on being super hosts 👑 & I’m so NOT surprised 👏🏽👏🏽👏🏽. Thank you so much for brightening up my Sunday 😃.
Aww, you're too kind Judy!!! :) See you soon! ❤️
Hey guys its David here in Almada! I would just like to thank you for the consistency of amazing and beneficial content. I am starting the process of getting my NIF here in Portugal and planning to own an investment property in Lisbon.
Have a great week, I cant wait to meet you guys here in Portugal!!!
As if there were already not enough reasons to adore the both of you already! Thank you for sharing your wisdom.
Just came across your channel and I am loving it. Learning so much. 3 years ago my husband and I went to Terceira Island in the Azores and fell in love with the island and we are planning to retire there. We are in our 50's but basically starting all over again economically since we lost everything about 7 years ago. Not easy but we are taking baby steps to a good retirement. Glad I found you guys.
I live in the USA 🇺🇸 (Massachusetts) for the last 23 years, I'm 46. I grew/lived up in Terceira from the ages of 8 to 22.
I'm visiting in Abril for 3 weeks with the intent of exploring a small business start up and also looking at AL(Alojamento Local) opportunities.
I’m planning to retire in Lisbon. I’ve been watching your videos and it gets me so excited! Airbnb is something I want to do as well! ❤️
That's great! Hope this video shed some light on the process for when you get here!
Great update in the airbnb experience, appreciate the insight you all provide.
Thank you! Glad you enjoyed it! And thanks for commenting!!!
I like how when the other person is talking you just sit there smile and look over to the other person every few seconds
Keep up the great work! People love to tell you owning property or multiple properties is hard. So is getting up everyday going to work.
Perspective! Love the comment! :)
I concur.
Safety is always a concern when traveling out of the country. Having contacts that you know is always a plus. Thanks for sharing all your valuable content. Talk about a magic touch!♥
you guys have the midas touch, everything you touch turns to gold.....kudos.
You guys are so generous with knowledge. Thank you
Agree very much with your insights on instant booking. Again, well done.
Thanks M Ashanti! Not having the instant booking options definitely comes in handy during party dates (Halloween, New Year, etc.) but also in general! :)
@@OurRichJourney oh yes indeed!
Greetings Guys ! Great video. As an owner of a Parisian flat that I use as short term rentals. I started mine pre covid and learned a lot through the years. Your video will save folks time and effort. Instant booking is horrific..I wish I had known back in the day.. Merci
Congratulations 🎊🎉🍾🎈 Super Hosts!!! 🥳
Thank you Venus!!! :)
This video was so hepful! Me and my family invested in a property in Alentejo to use as an Airbnb and we had a lot of questions! Your video gave us the kick start that we needed! Thank you!
Thank you I will definitely check out your ABB ability when I visit. Happy for you.
That would be awesome D Walker!!!❤️
I think you made a good choice for your investment, the Silver Coast is a good area to invest, still not on most tourists' itineraries, but I expect it to change. I've been visiting cute towns and cities in the region, lots of potential for tourism there 😊
Totally agree! Thanks for watching! :)
Is this a good country to retire at age 60?
Hi I've just come across your channel, and super impressed by your professional way of conveying information and your general characters. I can see why your are successful! I have subscribed and liked and intend learning from you and your experiences in the Portuguese Airb&b business. I hope to invest in an apartment around 2026 after I've settled in Spain by the border of Portugal so I have plenty of time to learn!😊
I'm from the spanish region on Portugal's north border. Airbnb is something of a bubble here. Almost all houses and former farms in countryside where owners don't actually live are available on airbnb. Not sure it is an opportunity anymore. Mostly because goverments even started regulating, so you easily can find yourself with an appartment you can't rent for holidays because there are already too many in your area.
You must have been reading my mind! I was just thinking about whether or not I would be suited for having an Airbnb.
So informative! Thanks for sharing your experience. Could you expand a bit on what it costs to run the Airbnb in Portugal- cost of cleaning, utilities and maintenance? Also I was curious if when you say you are running a $3,000 profit if you include the cost of purchase in your calculations or just expenses of running it… thank you!
We truly love you guys! You offer such honest information about Portugal that it makes it a lot easier to make a decision to move there, God willing. Hope one day to meet you guys in person. Blessings always.
Hi Amon, Christina!
I magically found your video just before the Christmas last yr.
I am learning so much so that I decided to invest a little money that was sitting in savings.
My sister and I eventually want buy a small property and would like to run a Airbnb myself.
Thanks million for this valuable information! Hope to meet you guys in person someday!!
Montrose, California 🌈
I'm hoping to stay at your place with my family in the future :)
You both are awesome
We would love to have you! Thanks David!!!!
@@OurRichJourney
Super :)
We're in the States with the ultimate goal of Homesteading for our family.
My family roots are from Madeira, Lisbon and Rio. I haven't had a chance to visit Portugal yet. Very excited too.
Wow. You guys are my favorite investing family congratulations 🤟🏾🤟🏾💯💯💪🏾💪🏾😩😩
Wow! Thank you so much Wavveytae!!! 🤗
Congrats on superhost status! Thank you for sharing some of the reasons why you have the AirBnb reservation process set up the way you do. It's a detail I hadn't considered.
Wonderful guys! A friend and I are expecting to be in Portugal the summer of '23 and hopefully it'll be available at that time. So excited for your success.❤️
I've also thought about doing the same, but I didn't have the courage to go forward. Congratulations and lots of success!
I love the self checking as well. Easy for me as a guest.
Very nice video. Thank you for sharing.
Intelligence and hard work pay the bills. You both did a great job 👏🏼
✈Want to move to Portugal? Enroll in our Moving to Portugal Course: www.ourrichjourney.com/movingtoportugal
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Where is your property? We just moved to Portugal last week. Do you have a link?
Hi guys, in the summer this year we also purchased small airbnb Appartement hier in Belgium on the coast so after 3 months of renting and bunch of positive comments we got a superhost status as well and we are pleased by the income that generates and covers all our expenses + a bit of a cashflow . We did not pay all cash ( it was 20% down and the rest was the bankloan on our second property-( because out primary house is almost paid for) +10 % closing costs on top of that ). Guests love the option self check-in that we can provide because they appreciate privacy. It is not very passive for us because we live and work here and dont mind cleaning and changing sheets. However the goverment here is looking to tax it differently then before and maybe force airbnb renters to run a bussines instead of claiming taxes as a private renter. I see you file your taxes differently as a non habit; but we are residents here and cannot do that . .....( funny because we are all EU ) - so every european state has different law on shortterm renting . Greetings... and we love your early videos .
Amon is killing it in the t-shirt game! 👍🏽💚😁
Guys I just got approved for my Portuguese visa in part inspired by y'all...it wasn't quick even for a golden visa. Waiting for SEF biometrics now....
Just found your channel, thank you for your really educational content, some great information, approaching retirement and have decided to go sooner than I originally planned thanks in part to your advice. Hopefully will get a chance to visit your AirBNB property soon.
So happy for you!
Checking in from the DMV.
You're so inspirational. Even if I don't wish to move to Portugal I might be brave enough one day to start renting out a flat or air b&b even. Thank you! :)
Great video!
Thank you 😊
Awesome video! So helpful. Did you guys put the property under an corporate entity or just under you personally?
So amazing and informative 👊🏾👊🏾 thx!
Quick question, guys. Did you also install an electronic door lock? I just purchased a new property in Europe and exploring Airbnb.
Yes! An electronic door lock! We can set the keypad (online) and guests simply enter the code (new code at each check-in) when they arrive! It's super easy! :)
@@OurRichJourney -Thanks so much for your prompt response, guys! Truly appreciate it. I get inspired when I watch your videos. In fact, influenced by your videos, I grabbed the bull by the horn, booked the flight, went to the destination country where I bought the property, and pulled the trigger 😀! So, thank you for making it happen 🙏!
Hey Amon and Christina!! Hope you are Safe hsppy and healthy!
Amon, The Return of Klay Thompson today!!!
Hey there James! Wish I could watch it live!!! Sharing the link with you of one of our Instagram reels (instagram.com/reel/CX1aMT0qIjf/ ). You'll get a kick out of it! It's not the Warriors, but the Kings had to do! LOL!
I am so happy for you guys and I deeply admire you... you and your husband provide wonderful information to the world. U2 made a excellent decision to move to Portugal. Please visit Cape Verde Island. That’s where I’m from. Came to. USA When I was 15. I am planning to move back home soon. Keep it up 👍 Good bless you guys...
Your the best!
Thank you Alegria!
Actually ice to k ow the municipality makes sure each rental meets a certain level of safety standards.
So you actively screen all bookings on a daily basis, or do you hand that off to someone else? Surely this takes away from being a passive business as you need to be highly available to screen as bookings come in.
Hey guys, great video! Could I ask for the details of your attorney you used for this purchase? We would like to use her for our purchase. Thanks, Harley!
Bravo you are both an inspiration 👏🏾👏🏾👏🏾👏🏾👏🏾………..🤗🇨🇦
Hey, i know that ladder close to the grottos! You were in Lagos? :D That´s my hometown :)
Congratulations on "super host" status👑👑👑👑
Thank you Danelle! 😀
Congratulations!
Yesssss love it
I was hoping to see an actual tour of your Airbnb place. Is there a link to check it out? Congrats!
Interesting video !!!
Thank you!!!
This is an awesome video!! Would love to stay there too!
Hi guys
Thanks soo much for the all gold information you guys have been sharing.
One question tho, do u think is possible to get into property management/ airbnb houses that we have not purchased? How would you recommend going about that.
Here in UK as well as USA this is very common but is not so much in Portugal. I am from Portugal and I know lol . Do u have any advise on how to get into property management without purchasing a house?
Congratulations and thanks for the video! I have a question: Are you the one who responds to message from guests?
SMART PLANNING
Excellent information! Do you know if you can host a room on Airbnb in a rented apartment?
By the way, I absolutely love your channel and have recommended plenty of my friends your way. I’m also thinking of Portugal. Maybe I should come and stay in your airbnb home and learn if that’s OK with you guys 😀 🙏!
Aww, thanks so much Shah! We're so happy to hear that you're sharing our channel with your friends!!!
Hi guys. Really nice content I really appreciate it. There’s one question that I’d like to ask and I hope to get your response.
I can see that you mentioned about getting license. What about for people like me that don’t own any properties, but has more than 20 apartments, subletting all them to do Airbnb here in South Africa, Cape Town and plus I do not pay taxes.
I’d like to know if it’s possible as well in Portugal sine I’m moving to extend my portfolio, trying to take advantage of my sister moving to Cape Town to Porto to help me with this project.
There are a lot of new restrictions on Airbnbs in Portugal so you would have to check out the rules. 😀
How did you guys do this picture layout for the property? Nice and simple for a guest to see all of the parts of the house and make a quick decision to book. I called Airbnb many times asking how to create this layout and no one knows!
I love your videos! ❤
Which are some of the cities do you recommend for purchasing an Airbnb property?
Great video! What was the name of the attorney you used?
How do I find your air bnb to book? I need to come out out to look for a property to buy!
I’m a huge fan. Thanks for all your work! I’ve had consistent major difficulty finding reliable, affordable & high quality teams to manage AirBNB cleaning and changeover. What are your top tips for finding and establishing this critical relationship?
Do you recommend purchasing a home in Portugal strictly for AirBnB while living in another country?
Meaning if you leave Portugal altogether would you still keep the property for passive income?
Hello, is it possible to run an airbnb business in Portugal without having to buy a property ?
Update on AIR bnb AL licence please. Law changed. I was trying it and it’s now going downhill. I got the mortgage approved. Signed the contract. And I didnt send deposit.
I love the video! Congrats 👏 for your successful passive income ! You guys are smart and you totally deserve it 🎉
Thank you so much!!❤️
Fantastic update! For the self check-in process are you using an electronic keypad? Anything else? TIA
Excellent news !!! Keep up the good work !!!
Happy for you.
I have a question, does the AL licencia need that you own the house, or you can rent unfurnished house and have the landlord agreement that you will run BNP there ?!!!
I do travel hacking and that's how I came upon your channel. As soon as covid simmers down, I want to head to Spanish and Portugal, and we will definitely check out your house. I want to convince my husband to move there or to Spain since University is so affordable there... for our kids. Btw, do you have a 529 video? I have been looking, but have not found one. Thank you! Thanks for all this info. -Melissa
Hi how u comunícate to a clean team everytime people leave ? Thanks
Who handles the emergency calls or just basic questions guests have?
Very inspiring
Does this apply the same steps for Madeira Island?
Planning to FIRE at 37 years old... I take care of my Airbnb remotly... I left the istant booking although customers still send requests anyway... I have families coming back 10 times and I keep the same price per night for them any time of the year. I don't have the self check in exactly to not to make them feel too confortable and also because people gets lost all the time...
I have a question: if the idea for the Airbnb is to be passive income, and you paid in cash, how did you decide it was better to do this than keep the money invested in the market?
Diversification
I had a similar question and I think that the rationale would be worthy of an episode. Once you calculate the net income before tax, say 48k pa at an average of 4k per month and stack that against the total cost of ownership, you'd have part of the picture. If that initial cost, including upgrade, compliance, fit out etc was say 750k, then that's a reasonable return of 6.4%. Of course, that return doesn't include any increase in capital value over time (which doesn't attract taxation now). They've probably enhanced the sale value by establishing the property as short stay accommodation. As they mentioned, not every property gains the necessary approval. I imagine labour hire for plumbers, electricians, painters etc is more reasonable than in the USA too, which would reduce comparative maintenance costs.
@@evanessmuvimi1678 yessir!
Also the stock market is boring if you just own index funds so maybe they want a little “excitement” in their lives. Hence opening one in Portugal
I was wondering how you guys deal with US taxes as expats. How do you avoid double taxation. I am really struggling to even open a investment account, let alone set up a business as a US citizen abroad
No double taxation
Can we do Airbnb in Portugal on a rental property like California ?
Wooow. Great place. Congrats to you guys. It looks very cozy :)
I want to start this business as well and move to Portugal.
Could you guys share how much it was to buy this place for airbnb ? Cant find this information on any of your videos
Keep up the good work ❤️💜💙💛💚
Thanks! Glad you like the home. It is very cozy! :) We don't share the price on this investment! :)
@@OurRichJourney ok :) thx for the quick answer
Wish u all the best
Hi Guys, we are planning on visiting Portugal quite soon, can we stay at your Airbnb? If yes can you pls send us the link so that we can make the reservation.
Please inform me what agency or cleaning services you used?
Hey guys! Great video! We’ve wanted to do something similar ourselves, but how did you find these reliable sources to help with managing the property? That seems to be one of the biggest keys to success.
How do you guys get residency in Portugal ?
I love your videos. I just subscribed. So, do you need to hire a RE agent & an attorney, or can the attorney do everything for property purchase?
Could you please share more about the 'self checkin' process or solution that you have in place? Many thx Marius
Good question Marius! We have a digital lock on the door. We can set the code online (i.e., we don't have to go to the home in person to do it). When we set the code, we enter the date and time for the code to go into effect and the date and time for the code to cancel. With each new guest, we set a new code. When a guest checks in, they just enter the code and it unlocks the door! :)
@@OurRichJourney many thx pls share the make and model of this lock if you dont mind. Exactly what ive been looking for :-)
What is budget should one keep in mind to start a AirBnB in Lisbon??
We’ll be there in May. Do we request a meet and greet directly to you or request it through our reservation with Airbnb?
Hey guys do you know if you can get properties for long term rental under a company lease and let them out on Airbnb ?
Here for the passive investment. 🤑 🏡 The property is gorgeous!
Thank you so much Tobi!❤️
And can you provide the name of the attorney?
Awesome video! How did you go about finding a good real estate attorney? One other question, being Americans are you required to file taxes only in the states or also in Portugal? Thanks in advance for your help.