My numbers are nearly identical to yours. I am in Houston Downtown. Our house is relatively basic with 2015 design trends while our competitors are all complete remodels with 2020+ trends. With that being said I have focused on a few things to set us apart, cleanliness and amenities. While my house is somewhat basic I have spent money on what few other properties have...the landscape. Most properties are beautiful inside but few offer the large expansive outdoor oasis. That's where I see your property shining. I have a simple 2bed/1 bath property generating almost 2x what larger 3 or 4 bed properties are charging just because we have something different. Keep up the great work, excited to be on this journey with y'all.
Thank you! We will keep going & we're happy to empower others to go after anything they want in any aspect of their lives! Appreciate you for being here & your kind words
I started my Airbnb in Austin on the January/2023 . It’s been 4 months but only see full booking from March and April . Like you said that Someone paying for your mortgage. But at the same time after taxes and all expenses right now we don’t make any , just make it even . This is my 1st property for Short terms . I have some Long Term properties too. I hope this Short Term rental investment will make more compare to my Long Terms investment in the future. You guys doing really good and I’m so happy for you both ❤️❤️❤️❤️
@@MariaElaine0516 it’s depends on what’s your goal or your financial . Right now it’s only few months and I can’t tell for sure . Normally if after all expenses if you can make 4% monthly that is worth of your times, energy ( beside your Job) It’s wouldn’t worth it if this is the only investment property and call this is a Main income in my opinion. Like I and my husband have to work on weekday and we maintenance the Airbnb On the weekend , try to save the money as much as we can to break all even .
I wrote a response to the video. In short I've been a super host for 7 years. Did fantastic the first 5. From there bookings went down to a trickle. The longer we kept the house the less money we made. This year and last we are in the red. To continue we would have to spend our own money to pay the bills. That's not practical so we are listing our house for sale in Sept of this year. We canceled 3 bookings that were so spread out that we would have less money every month The reason? Over saturation, now there's way to many airbnbs around us. Ours is in a somewhat very popular tourist destination in Michigan. But there's still not enough bookings to go around. The straw that broke the caramels back is we have to renew the house ins. Because it's an airbnb. ins wants 2,300 per year that's up 600 from last year. Price of water went up this last month, internet price going up soon, and utilities also had a price hike Everyone wants a huge slice of the pie We did all our own maintenance, yard work, snow shoveling and cleaning never paid anyone but we still don't make enough anymore to hang onto it The positive is, we didn't invest in an airbnb, we walked away from the house we lived in for 16 years It was already furnished and beautiful. Plus we made enough money to help us along with some of our own income to purchase and remodel 2 other small houses. One we live in, one we rent out and their both fully paid for and are mortgae free. We will also make a profit off the sale of our main house, plus we kept it homestead so we will not pay capitol gains We will be forever grateful to and for our airbnb house. But now it's time to let it go Best of good to you
i have been following your content and flipped a home into an airbnb, but your content helped me understand and be confident in everything i did to set mine up. got 5 stars and great reviews, thank you guys!
Awesome video. Thank you! I have an airbnb and came to the same conclusion about long term guests :) Not only it's less money, the house is getting more wear and tear during long stays. Plus, I had a month stay once, when I had to call the police - the guest's parents were fighting while he was at work... I've limited stays to two weeks.
Yikes when the police have to get involved! That is a huge bummer. Smart to limit the # of days of a stay. I believe ours is 14 days as well. Thank you for sharing your journey with us too!
Thanks from the info. Happy for you! You are smart young people. My hubby & I are looking into this business so we can fully retire. We own our home that is already divided into a duplex. We rent part of it at 2 bed 1 bath. We live in a small town in WV on the river. We will be able to offer kayaking, fishing, hot tub & smaller game room. We live semi close to snow skiing, state parks etc. We will be watching your utubes for more advice! We have lots of remodeling to do, so it will be at least a year. Thanks again!
We never experienced it. we're in austin texas. switched from long term to str and we love it. we make more money, our property is not trashed, there is less damages, and less wear and tear. I think its like any business there are good and bad business owners but people like to talk badly about airbnb when bad business owners are applicable to all businesses. some do good some do bad.This is the case with hotels too.
Great to know - we have heard this a lot. Bookings are seasonal for us but this year has stayed pretty consistent compared to even last summer. We are already more booked now and consistently than we were last June / July. Whew!
AirBNB is hard now for some because mortgage is up so people don’t make enough money to pay the mortgage and compensate…..but for someone that owns their house, it’s a great business.
You guys are truly an inspiration! Excited to hear about the other projects as well! I just bought my first house last year and I’m wanting to build an airbnb on the property so if you have any insights or advice to give me I’d really appreciate it!
That’s amazing, congrats on your first house! That is a huge accomplishment & good luck on your STR venture! Keep us posted on how it goes! Thank you for being here🤍
Thinking about doing this. I'll have my house paid off in 2 years and it looks like a challenge I'm willing to take on. Love your videos and you guys are awesome ❤ Always wanted to run my own business and proceeds will pay our forever home very quick while reinvesting into the rental to keep the cash flow going. Washington is a great state to visit and should be a hot spot💪
Thank you for the kind words and for being here! It’s a fun challenge and there’s always different things going on so it doesn’t get old / boring. And your thought process on it is a wonderful way to set yourselves up for the future/future generations! 🙌🤍
Remember that Joshua tree is the hot place right now literally and figuratively. it’s super weird to me because I used to drive through that area quite often and did not like it at all but it’s the Hot place so that’s why you guys are doing so well right now. I’m sure eventually that fad will pass.
you said "when airbnb changed the algorithm recently...." i'm new to airbnb as a host how did they change the algorythm? what do they push now more than before?
They were pushing luxe and super unique stays - mansions, tiny homes, tree houses, etc and they created categories that you had no say in where they put your home and they chose your main photo they featured. It was wild. They basically reversed all of this because of the uproar from hosts and the impact it had on everyone's business across the board and it all went down just before last summer. It was scary for sure but it seems to have balanced out!
only new to your channel and loving the content. Finding it helpful. I am looking to launch my first AirBnb listing in the coming 30 days. By diversifying across different booking sites including your own, do they all work off a synchronized candler? or what way does that work?
We are happy you’re here! And Yes! It all connects through our direct booking website and we break all of that down in this video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-olK9mjZfzfU.html
Nothing against this video but having been a host for over 7 years take any advice wheather its a good investment lightly We did outstanding for 5 years, now August 2023 were barely able to make any profit if at all Its now over saturated where we are and bookings are very low We have a cheap mortgage of only 360 a month but the cost of utilities, water, internet, liabiliy ins, taxes etc is a lot Happy for anyone who is doing well but the factors are so broad as to whether you can make good money Location, size of place, cost to run it, and we do our own cleaning and upkeep We can only charge 145 per night where we are So to say its a good investment for all of us not fair and misleading Its a good investment for you, in your area, but that is not true everywhere, for everyone I am a superhost getting ready to sell my house because not enough profit Best of luck
You are so right, every market is different and has its intricacies. Our goal is to share our perspective and not tell people what to do. Appreciate you watching and sharing your perspective!
What's the net income? Would love to hear costs - mortgage amount, insurance, property taxes etc. Respectfully, gross income doesn't mean much without talking about the costs as well. Look forward to seeing a video on this!
We've talked about it in a lot of our other videos on our channel. Our mortgage/insurance/property taxes is around $2,000/month (they are bundled). Utilities range from $200-500.
@@kristenandmichael sorry I watched to the end and totally edited my comment. I'm very nervous to jump in but really want to. From NY but I want to spend most of my savings to both move to Florida and start short term rentals. Been putting it off for so long I'm just going to go for it any day now but trying to avoid the worst outcome.
We do manage the property ourselves and with our cleaners’ help, it’s smooth sailing MOST times. We try to look for the good in the situations we deal with, no matter how stressful things can get in the moment. Learning from the challenges will get you through & it’s helped us immensely. We were actually just talking about it tonight: we don’t nickel and dime everyone because we try to see things from both host and guests’ point of view & we truly feel that’s what’s carried us and got us more bookings!
It’s definitely scalable if you find the right market and pick the right property. Our property is a 2 bed 2 bath on 5 acres. Lots of room and lots of maintenance and we market it to couples and friends as a relaxing retreat from the city. If you wanted to scale, we would suggest focusing on a market with a lot visitors and smaller units. Less maintenance and overhead. Also, if you have the right team in place it can easily be scaleable too
I was told my amenity that VRBO has a lot of spam. Very discouraged against that. What are your thoughts? And what do you think about your experience with lodgify so far? Thank you in advance. Can you do a video on setting up a direct booking website?
We have also experienced a lot of spam on VRBO when we started but nothing since the first month on the app. Our experience with Lodgify has been good - we do get nervous when we're directly booked only because its all on us in a way, without a big corp behind us but that's business - taking the risk for the reward. We are planning on doing a listing video soon!
@@kristenandmichael When you get a direct booking, how confident are you that guests are going to be good without knowing their previous reviews. on other platforms?
Complete opposite experience of what I am experiencing on the oregon coast. 1/3rd less income in q1 2023. I'm done with this, I think I'm going to sell my big house as much as it kills me.
Oh man! We are so sorry to hear that. Thank you for your honesty & sharing the heartache with us. We would be devastated as well. Sending you only the best vibes!🙏🏼
Same here, we did outstanding for 5 years now were barely able to make a profit The market where we are got over saturated. To many STR. We have to sell and it's really a scary time for us. Having been a host for 7 years take others advice whether airbnb/str is a good investment lightly To many factors. Location, kind of property, price per night varies all across the country. Size of home, insurance cost etc...
No we have not but when we purchase our second STR, we will go through that entire process step-by-step and film it for the channel. We do have earlier videos after we purchased the house sharing how we got the STR permit, what that entailed and uploading images, etc. into Airbnb.
Hello sjo I just moved to the red city MARRAKECH in Morocco 🇲🇦🇲🇦🇲🇦I was fed up with the cold climate of Europe. Now I live in our family HOUSE unfortunately I can't rent this house , but I want to start as A co host for airbnb . BUT I DONT KNOW WHAT TO DO AND WHERE TO START
@Kristen & Michael thank you for you're replay, my advantage is that I speak 4 languages Dutch English French and Arabic, but what I am afraid of is taxes I am still registered in Amsterdam. And also don't how the payment works is there course online somewhere I can follow ?
Short Term Rentals aren’t Airbnbs. They are STR’s that use channels or take direct bookings. VRBO has increased. VRBO is achieving better search results. A lot of hosts and guests are tired of the Airbnb game. You guys get $720 per referral so that’s why you’re pushing it. Duh.
Our pet fee is a one-time fee and I believe it is per-pet. Having a 'pet basket' sounds like a great idea! We had a recent guest grab one of our indoor blankets and set it out in the backyard for their dogs to lay on - the only reason we found out was because we can no longer use it anymore. It was covered in stickers, cacti and sand. Giving a dog towel is a great alternative to them messing up our blankets inside!
Love your videos. Great teamwork. I am currently in the process of buying my first investment property solely for the purpose of starting an Airbnb business. Please help! I am a beginner but determined to make it work!
You can do it. If we can, you can. Feel feee to go back through and watch our videos. There is a ton of info in them as we’ve been documenting every step of the process from renovating to getting bookings! Best of luck in your journey!! Let us know if you have any questions
Hahah we just laughed out loud. We both automatically assumed you were talking about Michael but now were curious if you meant Michael or Kristen. We loved Jenna back in the day.
Yeah right so not only can it be some complete creep with cameras setup watching you, its my job to fully clean it and then be charged a cleaning fee?? Legit a scam people are braindead
