Daniel Varela

I am an Electronics Engineer and started a Short Term Rental management business 2 years ago. My business consists in renting properties from owners and subleasing them on Airbnb. Timeline: May 2016: Deal 1: I started with only 1000€ cash that allowed me to rent a 2-bedroom apartment downtown in Porto with the purpose of trying to Airbnb the other room and this way househack myself. It worked better than expected and besides paying my the whole rent it still put ~500€ os positive cashflow in my pocekt. There was almost no risk involved in doing this deal as I had my engineering salary paying the rent, even if I didn't cash anything on the other room. September 2016: Deal 2: Invested the cashflow saved from that first room into my first rented apartment (1-bedroom) to rent as an entire space on Airbnb. I was a bit more affraid to do this one as I needed to have it cashflow positively so I could pay the rent. In any case, as it was a subleasing, I could always get out of the deal a few months later. Worked phenomenal until. It worked well putting as well ~400€/month positive cashflow in my pocket every month until Jun 2018 when the landlord asked the property back for himself to Airbnb. January 2017: Deal 3: Another subleased apartment to use as entire space on Airbnb. This time I got a 5 years lease. This is up to day my best property, generating an average cashflow of 600€ monthly. With the evolution of the market, I currently pay less in rent that what I would pay in a mortgage would I buy a similar apartment. July 2017: Deal 4: Another subleased apartment for Airbnb. 300€/month positive cashflow. I lost this property September 2018 due to STR regulations being more strict. November 2017: Deal 5: Another subleased apartment only 25 square meter with a rent of 500€, cashflows positively ~500€ after Airbnbing it. June 2019: Deal 6: Another subleased apartment. I had to pay the rent anually to get a discount and have the paid rent similar to the other rentals. Should cashflow similarly to the other: ~500€/month October 2019: my first official employee, a part-time cleaning lady who takes care of the turnovers and the clothing for my rentals. Besides this one working directly for me, I have 3 other contractors: another cleaner, a handyman and an accountant, with regular monthly pays. I also have an RE attorney but pay per service. Super team built! Goals: - expand my STR portfolio My strengths: - Differently from when I started, I now have some money to invest (40.000€) currently and saving ~1700€/month. - I have a property management business/system in place with cleaners, a handyman, and an accoutant. Adding another property is logistically super easy for me and would not need to pay somebody to manage it for me on STR. - I have good knowledge of the market in my city - I have good knowledge of the STR law My challenges challenges: - STRs in my country facing every day more regulations - almost no free time (going crazy), as I have currently 4 rentals + my Engineering job - property prices have increased dramatically, so it has became virtually impossible to find good deals March 2019: I have a Property Management Company for Short Term Rentals (https://dvstays.com)