247: How To Shortcut Your Financial Freedom with Short-Term Rentals

The Side Hustle Show

Nick Loper

Entrepreneurship, How To, Education, Business

4.7 • 1.6K Ratings

🗓️ 14 September 2017

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Zeona McIntyre is earning $12-18k a month through her portfolio of vacation rental properties and her "co-hosting" service for other property owners. All this has afforded Zeona financial independence at a very young age, as she built her operation largely by piggybacking on the growing popularity of Airbnb (get $40 off your first trip!). She first became aware of Airbnb and the potential to earn some extra revenue back in 2011. She was in massage school at the time, but a friend of hers in New York subletted his apartment on Airbnb to the tune of $50k for the year -- all while traveling full-time. “I couldn’t ignore it from then; I started right away,” Zeona said. She started by subletting a room in her apartment, then her whole apartment, and now owns five rental properties and manages or "co-hosts" another 15-20 properties on the behalf of her clients. With a small team, some smart decisions, and some online tools, Zeona now manages her business from her home in Boulder, Colorado relatively hands-off. This is the second episode in our recurring revenue series this month. If you missed last week, be sure to check out how a full-time cop built a subscription box service to $15k a month. This week, tune in to hear how Zeona chooses vacation rental properties, how she calculates the potential ROI, and how you can get started in this location independent side hustle today with just a spare room in your home. Full Show Notes and PDF Highlight Reel: How To Shortcut Your Financial Freedom with Short-Term Rentals

Transcript

Click on a timestamp to play from that location

0:00.0	Side Hustle Show 247, how to shortcut your financial freedom with short-term rentals.
0:08.0	What's up, Nick Loper here?
0:10.0	Welcome to the Side Hustle Show, because nobody else is going to do it for you. This month
0:14.0	we're focusing on recurring revenue business models highlighting a few unique
0:17.7	ways to build those consistent monthly income streams. Last week for example we met
0:22.0	Sam Gonzales a full-time police officer who's
0:24.4	built his subscription box service to $15,000 in monthly recurring revenue. This week's
0:29.9	guest has a different approach. She's built her financial independence early on like
0:34.8	age 29, age 30 through real estate and specifically through the peer-to-peer rental site
0:40.7	Airbnb. So today, Ziana McIntyre's business rings the cash register in a couple different ways. The first
0:47.1	she's a mini real estate mogul with five properties that she rents out on Airbnb and
0:51.8	the other way she makes money is through
0:54.2	what Airbnb calls co-hosting. Essentially she acts as the property manager for
0:58.4	other people's vacation rental listings and earns 20% of the nightly rate with very little risk and very little
1:05.1	upfront capital required. Now under that model she's got another 15 units
1:09.4	under management and is currently earning around $15,000 a month between the two arms of her business.
1:15.2	There's a little bit of seasonality at play here, but overall she's diversified to the point
1:19.0	where it's become a very predictable revenue stream.
1:22.0	So I invited Ziana on the show to learn a little bit more about how her business works and if I'm being totally honest to see if it was something I could get into myself. Like could I buy a vacation home and make money on it or at least break even on it when I'm not using it?
1:37.2	This conversation didn't really go the direction I thought it would but still ended up
1:41.1	provoking some thought on my end and I think it will for you as well.
1:44.3	So stay tuned to hear how Ziana evaluates her properties, how her co-hosting arrangements work,
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Nick Loper, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Nick Loper and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.