Summary List Placement
Zeona McIntyre is on track to pocket around as much as $50,000 this year from Airbnb.
McIntyre owns five apartments in Colorado and Missouri that she rents out on the short-term rental platform from $50 to $200 a night to everyone from digital nomads to pandemic transplants.
The 34-year-old real-estate investor is now able to spend winters in Hawaii using her earnings from Airbnb (plus income from a few small side hustles).
McIntyre’s journey to making a living off Airbnb began humbly nine years ago.
Like many young adults, she couldn’t afford to buy a home in her mid-20s. So she used a strategy called rental arbitrage: In its simplest terms, that means renting an apartment and then — as the leaseholder and not the landlord — renting it out to other people via short-term rental platforms like Airbnb or VRBO (short Vacation Rental By Owner).
The income generated that way effectively allowed McIntyre to live for free. She was then able to save up to buy an apartment to rent on Airbnb, which led to more income. That, in turn, allowed her to purchase more apartments to list on the site and expand her mini-empire from her home base of Boulder to St. Louis.
She started by renting out her extra bedroom.
In 2012, McIntyre, who was a college student and working at a cannabis dispensary, listed a furnished room in her two-bedroom apartment on Airbnb.
She found takers willing to pay anywhere from $45 to $75 a night; the proceeds eventually enabled her to live rent-free.
“I got to a point when I was covering the whole rent of the property,” she told Insider. “But it wasn’t like I was making crazy money.”
Over the next two years, as Airbnb’s popularity grew, she continued to try out the rental arbitrage strategy in Boulder.
She …read more
Source:: Business Insider