Dollars and Hops

044 | Airbnb Investing and Short Term Rental Technology - Part 1 | What is Turo?

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Intro: Lance and I have both dipped our toes into the water when it comes to Airbnb investing.  We are excited to share some tips/tricks we have learned as we have launched our first couple properties.  We will also explore the ROI you can earn by investing in Airbnb and what sort of work it takes to get started with AirBNB Investing.


Money Hack of the Week: Turo

  • Turo is the Airbnb for car rentals
  • Not only is it most of the time cheaper
  • It’s also easier
  • Deal with P2P instead of a big monster company that makes you wait in line for sometimes hours to rent a car.
  • Pro tip: rent only from All-star hosts

    • What is Airbnb?

    • A way to share your home or a space within your home with people traveling through.
    • Airbnb started as a room sharing thing and has morphed into a major industry
    • People who want more privacy or have bigger groups than a hotel can reasonably host tend to gravitate toward Airbnb
    • Airbnb revenue in 2021 was $6 Billion dollars
    • This is a new industry and it’s growing rapidly

      • Lance’s Limiting Beliefs

      Technology

      • Schlage Lock
      • Hospitable
      • Price Labs
      • Ring Camera
      • Multiple Platforms

        • -Build Your Dream Team: Self management can happen from a-far.

        • Find a cleaner who specializes in short term rental cleaning
          • Not bad to have a backup cleaner or at least a short list of people who you could call if your primary cleaner falls through for some reason.
          • Smaller the team the better- you want to be able to communicate directly with your cleaners
          • Find a group of handymen - have multiple on call if something goes wrong

            • Who is Airbnb investing right for?

            • Someone who is looking to diversify into real estate
            • Someone who is looking for additional cash flow on a monthly basis
            • Someone who’s looking to accelerate their path to financial freedom.

              • STAY TUNED FOR PART 2

              Questions that need answers

              -PLEASE WRITE US AT [email protected]

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