So during October, I’ve worked really hard on changing the way that I manage my Investment Property; and I just made $1417 on AirBNB!
A good friend of mine had been using AirBNB for while with his property and having great success.
AirBNB has a very high volume of potential short term rental occupiers and my property had the potential to change from a negatively geared property (where I was losing money every month) to a new income stream!
Initially I thought, this would be amazing and how hard could this be?
So I spent October getting everything setup for my apartment and I just made my first large booking!
Keep posted as I will have a few more posts to come out on the exact steps I have taken to get this going.
If you are considering using AirBNB. Click here to get $45 off your first stay!
Interest in becoming a Host and making some extra money with a spare room, while you are on holiday or just want a better rental return. Click here to sign up as an AirBNB Host.
If you are considering using AirBNB. Click here to get $45 off your first stay!
Interest in becoming a Host and making some extra money with a spare room, while you are on holiday or just want a better rental return. Click here to sign up as an AirBNB Host.
I have seriously thought about AirBNB. I have a 4 bedroom house and only two bedrooms are used, but it is big and I have a swimming pool. Have you had any bad experiences with it? How do you report your income for it? Do you get paid thru AirBNB? I am really interested in doing this and think that being in Dallas is a good spot.
I’m a big fan of AirBNB, but as you’ve noted there is a bit of research and due diligence that you need to complete to make sure it is the right decision for you. I have had a few bad experiences that I will be posting. Reporting income would be dependent on your circumstances, I recommend speaking to your tax agent / accountant. AirBNB pays you directly into your bank account 24 hours after the first night stay, however you can also set restrictions so that you get paid 50% if the booking gets cancelled. AirBNB provides you with full reporting capability on bookings and transactions, it’s very simple and manageable. I haven’t been to Dallas when I visited the US a few years back. Here are some steps that I would follow in your position: 1. Search your property area on AirBNB. See what competition is out there and the types of properties that are in demand. Look for the properties that have a large amount of reviews. 2. Work out your budget for setting everything up. 3. Make a decision, don’t sit on the sidelines or nothing changes :). I’ll be releasing a few posts and emails that will be very helpful to you shortly. Visit this link to receive them: Click Here.