Good evening Bigger Pocketeers!
I want to share my first small but vital success that my wife and I had recently. Just a little back story, we first caught the Real Estate bug about 6 months ago and have since been learning, listening to podcasts, reading, and beginning to network in order to get this ball rolling. The first house we bought is what we call an accidental investment. We currently have that rented out and have recently bought our second SFH that we live in now. What made this house stand out was a additional Guest/In-Law Suite that is a very private and comfy (pictures posted below!). As soon as we got settled, we posted the guest suite on Air BNB to see what kind of extra revenue we could pull in. Now, we live in a small beach town (Surf City, NC) and did not expect to get much action until the summer months but as soon as we listed the Guest Suite, the reservations started pouring in. February is the second month our BNB has been active and we are netting over 600$! It is truly amazing and such an easy way to use your Real Estate assets to make you more money. And this gives us a chance to meet new, interesting people and try and help give them a fun beach vacation.
When looking at the local market and what sets our place apart from the competition is the fact that it is an entirely separate living quarters with its own bathroom. Talking with our guests, privacy is a major selling feature and one of the main things people look for in an Air BNB. If anyone is new to this game and has any questions about how to get started with Air BNB and tips for making your listing more marketable, please let me know!
HEY!! CONGRATS!! How did you come by this deal? Also, this place looks really nice, well decorated, and secluded. I can see why this property could turn great profit.
Hey! That's a really cool idea! What a perfect blend of convenience for both parties. I'd like to replicate this some day.
Well done. I wish you continued success.
If you haven’t already you may find this podcast helpful on how to ensure you have the most tax efficient setup for your Airbnb rental.
The Real Estate CPA Podcast Ep 2
We found this deal on the MLS but it was just listed as a SFH. We were initially looking for a multi-family that we could house hack easier, but there is very limited multi-family in our area. This goes to show you that there are still great deals on the MLS and with a little creativity, you can have your primary residence work for you.
Thank you for your encouragement and resources! I will check out your podcast today.
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