This is why I personally like the Co-Hosting model better. One thing I want you to know or think about with rental arbitrage is although you can get started with Airbnb without owning property that you are on the hook, via a lease, for rent each month. Some arbitragers pay their landlords a little more than market value and keep the rest, some split, in some way, the profits, and some just pay rent and keep the rest for themselves. Rental Arbitration -this means that you rent a space from a landlord and then have an agreement that you -or they- will furnish the space and then you will rent it out on Airbnb.Most often, Co-Hosts get paid a flat fee or, like me, a commission. Co-Hosting -this means you help an Owner, which could be a landlord, Property Developer, etc., run their Airbnb.Airbnbing the bedroom down the hall from you.Set your goals now and the marketing research and other variables will help determine what that first phase of the plan will look like.Īnd I also want to mention that there are several different ways to get started with Airbnb. I’ve heard the saying, “The goal never changes, just the plan to get there.” This could be years away (or not), so I want to set the expectation that your Airbnb doesn’t start making your money in your first month. Knowing your financial goals is the ‘long-term goal. With any business venture, the first question that you hope to answer is, “Is it a viable option?” Simply meaning, will this work financially? I don’t want you to get discouraged when you outline your financial ‘goals’ and they can’t be supported by market research. Related: 7 Crucial Steps to Planning a Successful Kitchen Renovation Consider your (financial) goals I’ll provide you with some of the resources that I use when I’m hired to develop such a business plan or a client. Just like anything else it takes time, patience, and some investment. Airbnbs are not a ‘get rich quick’ revenue stream. I would say that if your hopes are to replace your current income from your job or to eventually hire a Co-host, then yes you should definitely have a business plan. People get into hosting on Airbnb for many reasons, some right, some wrong, and some are completely personal preferences. Do you need a business plan for an Airbnb? Well, you definitely need a plan, that’s for sure!
0 kommentar(er)
