One minor downside to all the work I am doing is that it's easy to let everything else overwhelm me. This is just another reminder about why it's important to simplify my life.
Selling the BNB
This one was difficult. As I quickly approach four years as an Airbnb host, I've decided to take advantage of the hot real estate market and sell the house. I was contacted by an agent in March who was engaging and full of energy. I usually ignore unsolicited offers from realtors, but this guy got my attention. He had neighborhood comps that suggested my home would sell for healthy price.
I've been thinking about selling for several months. When I was planning my 2022 goals, selling one of my rental properties was Goal #1. I had a different property in mind - and am still strongly considering selling it. So there is definitely a possibility of selling two houses this year. The plan for the BNB is to list it in early May.
The Intelligent Investor
Increasing Passive Income
The most important benefit to all this will be more freedom to do things I enjoy. Owning an Airbnb has been one of the best financial decisions I have made. But along with these golden handcuffs comes a lot of responsibility. We have to plan our lives around the house. I've tried multiple housekeepers, and am not satisfied with their attention to detail. I would LOVE to be able to take a vacation and not have to think about some issue arising at the house that will require my attention. Sure, I could put more effort into making this a truly passive source of income by hiring a management company. But home prices are so high that, with a bit of effort, I think I can earn close to the same amount of income in a totally passive way via Realty Mogul or stock investing.