Everything I need to know about Airbnb.
Hey everyone, I am trying to buy my first home when I graduate high school and I want to convert it into a Airbnb. My goal would to have multiple houses on Airbnb but I want to know everything that is important starting out for homes on Airbnb.
@Lance Bolen love the goal here! Biggest things to know are below:
- Find an agent like who knows the hot spots for Airbnb
- Research revenue potential with sites like Airdna and Rabbu and look for a minimum 20% cash on cash return
- Do market research for competition on Airbnb to know what amenities you need to stand out
- Find a solid cleaning crew and handyman (BP, Angi, Google, etc) as they are the lifeblood of your business
- Use a pricing tool like Wheelhouse and a PMS tool like Your Porter to self-manage (no need to pay 20-25% of gross to a PM if you don't have to)
Good luck and DM me if you have any questions!