AirBnB - November 2018
In our third month operating an AirBnB home we were cash-flow positive. Nightly rates are moving higher (still have a ways to go I think). I did have 3 available days that were not rented. This is bound to happen, but in December I am playing around with rates on these orphan days to try to get a booking. See, what happens is I will get a multi-day booking that might end on a Saturday, and then have another multi-day booking that begins on a Tuesday. Getting that Sunday and Monday booking has been a bit of a challenge. So far in December, I have managed to fill 4 "orphan" days by lowering rates just for those days.
I have a list of large projects (new water heater, new HVAC, new siding, etc.) that will need to be done over time to maintain this old house. It's nice being able to defer these expenses so that I generate some cash flow. The plan for now is to hold off on big projects during the busy season (January-June) and use the slower summer months to make improvements.
It's just my third month, and I am cash-flow positive!
Occupancy Rate: 76.7% (4 days blocked by me, 3 days vacant, 23 days booked)
Payments Received: $1,670
Net Income: $127
Monthly expenses will be much lower in the future. In November, I spent $453 on bills. This includes electricity, water, Sling TV, trash and lawn service. I also spent $250 on cleaning service. The roughly $800 remaining was spent on supplies like extra linens, and this is the part that will ease up a good bit.