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The Hustle's mission is to give young people all the business news and information they need to start their day. It's a podcast where they brainstorm new business ideas based on trends & opportunities discovered in the market.
Sam's new venture is host of the Marathon Ranch Airbnb. He bought a $1.2 Million Airbnb ranch and made $20,000 from it in the first few weeks of owning it.
His goal is to maximize the land and generate $200,000 in revenue from one house on the property this year.
If he is able to get 60% occupancy (at $1200 a night) he would earn $262,800 dollars for the year.
The property was purchased with a standard mortgage that he pays about $9,000 a month on. When all is said and done he would have about $88k in profit on this one house.
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He has lots of way to generate traffic to his Airbnb including a website.
Things to Consider:
Being an Airbnb host can become a relentless job, demanding your time and energy. You'll need to be prepared to respond to guest inquiries promptly and you must be available 24/7 at a moment's notice when you have Airbnb guests staying at your property.
Hosting requires skills in marketing, customer relations, communication and property management. An Airbnb property is likely to be more work-intensive than other available rental avenues, as it's your responsibility to maintain the property to a high standard at all times. Airbnb will hold you to account if they get complaints from guests.
If you don't have a high profile or are a tech millionaire like Mr. Sam Parr you might want to consider another option:
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