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If you ever wondered one of the best way to make money, this is it. This is how I made money using the airbnb app. After quitting my job, I had no supplemental income so I was forced to learn a new skill that taught me how to pay my bills. This is everything I learned in two years as an airbnb superhost.
Ultimately this is what allowed me to quit my job and take a risk by starting my channel here on Youtube. Without this income, I wouldn’t have been able to pay my bills, I hope this guide is helpful for you. Unlike stocks, dividends, and robinhood, this specific investment is one of my best investments I’ve ever made.
1. Airbnb does not have to be expensive. I started by buying a steel frame for my bed which cost around $100. I also purchased a queen size mattress for around $200 from Amazon. I decided to decorate my place by making it bright and inviting so I bought a teal rug, used my old desk, and purchased a futton which doubled as a full/queen size bed. Total cost to set up was $650.
2. If you’re going to make money with airbnb, you should be able to host at least 4 people. If you can, host 6 people and you will have far more people book your place. People like to travel in groups and split the cost. It’s common practice for the airbnb host to charge extra for each guest after the first 2. These are some of my favorite bookings and you can easily make upwards of $300+ a night (especially on weekends).
3. Make your profile picture family friendly. It’s important to let the guest know you are there to provide a place to comfortable place to stay that’s safe. If you come across as a “bachelor”, you will lose a large portion of clientele on airbnb.
4. Prioritize these 3 factors. Location, safety, and cleanliness, these are the top 3 things people value the most. Sell your listing by telling guests proximity to grocery stores, bus stops, tourist attractions, etc. People like walkable locations. Emphasize privacy and safety by giving your guests their own key to lock their space so that they feel comfortable leaving their valuables. Keep your place clean and take bright photos!
5. When it comes to advertising your space and getting your first booking, price your listing competitively and undercut the market. This will allow you to build the first few reviews and then you can charge more. It also helps to take nice pictures with a wide angle lens. If you don’t have anything on hand, borrow an iPhone 11 and take pictures with that. For extra credit, make a short video. After your place gets booked and your guests arrive, it’s great to show them a handbook that shows them your favorite hotspots such as restaurants, attractions, things to do and see, etc.
6. If you have a larger budget, focus on automation. You can automate from locks, to writing up reviews, lights, etc. If you do this right, you can make it so you never have to meet your guests making this a 100% passive income investment.
7. Please check city zoning rules and regulations. This is especially true if you want to convert spaces into full time airbnb such as a garage space. Your house has to meet certain criteria in accordance to city regulations and HOA rules. If you google your city + airbnb zoning, you will most likely find a website that shows you where you can and can’t have 30 day short term rentals. Unfortunately, there is no universal website I’ve been able to find that shows it for each state/city.
8. Don’t get discouraged if you have a bad first experience like I did, keep with it and you will quickly be able to more than just your mortgage, and you’ll eventually start earning $100 a day and more.
*None of this is meant to be construed as investment advice, it’s for entertainment purposes only. Links above include affiliate commission or referrals. I’m part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.