For the past decade, I’ve been renting out a portion of my home through Airbnb and am now able to cover most of my living expenses. It has been financially life-changing and I wanted to write a guide to share what’s worked for me and what I’ve learned.
Now, that wasn’t always the case; in the beginning it was money I could use for groceries, or to go out with my friends, or to cover the electric and internet bill. But as I leveraged the strategy, the more I was able to cover with the profit.
And here we are, entering a recession with high inflation and it’s never been more important to increase your assets to battle inflation.
So, I wanted to document my experience becuase it has been such a financial win. The guide walks through basic concepts, questions and systems to help you get started short term renting your primary home. The systems and items discussed are things I myself have gone through, done, struggled with and figured out, and have implemented. I have self-managed using free tools and that’s what the guide walks through.
I will be honest and say this path may not be right for everyone. And this strategy isn’t the traditional STR investment strategy – so there are many nuances.
Mike and I have been able to live for less than $600 per month in our primary, covering most of the taxes, water, electric and gas, internet, mortgage and insurance for our home. In a high cost of living area, this has been a game-changer. I felt compelled to write this guide to share what I’ve learned in hopes that others could utilize the strategy to get on their way to Financial Freedom!
Below is a condensed version of the full guide – I’m givign it to those interested, for free! Would love to hear from you – if you have questions, want to talk through anything in the guide or if you decide to rent out your primary. Cheers to turning assets into liabilities!
Want the full guide? Sign up here!