Yes, I am! My wife and I currently operate our first Air BnB by house hacking our basement. We operate in Regina, Saskatchewan, Canada. We have been running the business for just over 14 months and generate about $2,700 / month in rental revenue. We are currently saving away for the down payment on the next property. When we move out - we will then turn the upstairs unit into an Air BnB suite as well. I suspect that this unit should be able to generate between $3,200 - $3,500 per month. This single stand alone property should cashflow $30,000 per year, after all expenses are paid. Cannot wait to keep expanding in the future! Hosting has been amazing so far, and cannot wait for what's next. Cheers
That's so good to hear!! And growth the way you're doing it is amazing! It's also good to perfect everything with your one listing - messaging, cleaners, etc... and then just duplicate it for the next one. Let me know if you need help with that! What systems do you already have in place? Are they working for you?
Hi! Good videos! You have great energy. I plan to airbnb arbitrage in the bay area...where is still allowed 😅and very expensive to live. Im a nurse who works there...i can pay the rent by myself with 1 week work...but i want to airbnb to other healthcare workers...who travel like me. 😊. Do you recomend to start an LLC So i can have a tax benefit? I am pretty excited to start...i just want to do it right. Thanks again!
Very useful video
Glad you think so!
Yes, I am! My wife and I currently operate our first Air BnB by house hacking our basement. We operate in Regina, Saskatchewan, Canada. We have been running the business for just over 14 months and generate about $2,700 / month in rental revenue. We are currently saving away for the down payment on the next property. When we move out - we will then turn the upstairs unit into an Air BnB suite as well. I suspect that this unit should be able to generate between $3,200 - $3,500 per month. This single stand alone property should cashflow $30,000 per year, after all expenses are paid.
Cannot wait to keep expanding in the future! Hosting has been amazing so far, and cannot wait for what's next. Cheers
That's so good to hear!! And growth the way you're doing it is amazing! It's also good to perfect everything with your one listing - messaging, cleaners, etc... and then just duplicate it for the next one. Let me know if you need help with that! What systems do you already have in place? Are they working for you?
Hi! Good videos! You have great energy. I plan to airbnb arbitrage in the bay area...where is still allowed 😅and very expensive to live. Im a nurse who works there...i can pay the rent by myself with 1 week work...but i want to airbnb to other healthcare workers...who travel like me. 😊. Do you recomend to start an LLC So i can have a tax benefit? I am pretty excited to start...i just want to do it right. Thanks again!
That's a great idea but I can't offer any tax or accounting advice. Best to talk to your tax/accounting professional!
Do you target your type of guests? Do you advise doing this? Like ...professionals, corporate travellers... Or everyone?
How can anyone make good money if there are short-term rental limits in most cities of 90 days if you are not living in the property?