29 Jan What Kind of Airbnb Entrepreneur Are You Going to be?
Before I stepped into this business, I drew up a plan for myself. I wanted to get a new unit up and running every month.
Well, that definitely didn’t happen. Can you blame me for aiming high? I fell victim to the above-average bias! That’s okay because the majority of us all do. But, it’s important to set realistic expectations and decide early on which type of entrepreneur that you’re going to be.
Hosts that are on Airbnb run the whole gambit of part-time, full-time, and professional investors. Let’s categorize on how you can identify which type that you wish to pursue.
Generally speaking, here are the 5 types of Airbnb entrepreneurs.
The Opportunitist Airbnb Entrepreneur
Opportunistic renters take advantage of peak tourist times in their hometown. These Airbnb hosts aren’t interested in making Airbnb a full-time affair but are always looking for creative new ways to earn some extra cash.
The CouchSurfer
If you have a spare bedroom or couch, and you enjoy the concept of meeting young, budget-minded travelers, then renting a shared or a private room is for you. It’s a great way to make some additional income and meet some cool people in the process. When posting a shared rental, you’re selling yourself as much as your space.
The Jet Setter
Many of the latest listings on Airbnb are from the Jet Setter crowd. Jet Setters live a spontaneous lifestyle, blowing where the wind takes them for work or play. They’ve realized that renting their primary residence on Airbnb provides them with an even greater financial freedom to spread their wings more often.
These types of Airbnb’ers list their primary residence on a full^time basis without finding another permanent residence. These listings are typically priced at the higher end of the market at a “make it worth my time to go somewhere else” rate.
The Traditional Vacation Homeowner
The traditional vacation-rental homeowner typically wants longer-term tenants who are more thoroughly screened.
The Full-Time Airbnb Entrepreneur
This Airbnb entrepreneur has at least one property listed on the site year-round with the goal of maximizing revenue and achieving 100% occupancy. Seeing the success of their first property, many rentalpreneurs have searched for additional properties to rent or buy in order to build their Airbnb empire.
Now that I am summarized the types of Airbnb entrepreneurs, did you decide which type you’re going to be?
“A hint”
I’m only writing to carter to the last type. 😉
Interest in learning how to build your rental arbitrage empire? You can subscribe to my blog and learn tips and insights on my process of creating a profitable 6-figure passive income business using other people’s home.
Jane Maechtle
Posted at 17:00h, 10 SeptemberNeed more info. on co-hosting. 🙂
Sam Zuo
Posted at 21:22h, 13 SeptemberWe’re working on something cool, Jane. Stay tuned! The best way is to subscribe to my email list so you’ll know as soon as I release it. 🙂