Starting an Airbnb business at the age of 21 (Ep566)
Summary
This podcast episode features a young entrepreneur who started in STRs at age 21, sharing his experience with creative financing, specifically seller financing and subject-to deals. Hosts can learn about these non-traditional financing options and gain insights into the speaker's strategies for acquiring properties.
Key Insights
- •The speaker's first Airbnb was purchased using seller financing, including a 12% down payment and a 3% interest rate balloon loan.
- •The speaker used creative financing methods like seller financing and subject-to deals to acquire properties with limited capital.
Action Items
- ✓Consider exploring creative financing options like seller financing to acquire properties, especially in high-interest-rate environments.Effort: mediumImpact: medium
Tools & Resources
- →Pace Morby: The speaker mentions Pace Morby as a resource for information on subject-to deals.
More from Getting Started
This article from GreekReporter.com reports that Greece is climbing the European short-term rental rankings. While specific details on the rise are not provided in this short article, this suggests a growing opportunity for hosts. It implies increased demand in the Greek market, which presents a dynamic opportunity for STR investors.
Ennismore plans to expand its hotel presence in India, with its first hotel under the Morgans Originals brand, Roswyn, already soft-opened in Mumbai. Following the Mumbai debut, the company plans to open a Hoxton hotel in Bengaluru and is actively exploring further expansion opportunities, recognizing the market's readiness for a luxury lifestyle product.
The short-term rental market's growth is slowing, according to eKathimerini.com. This shift may affect occupancy rates and revenue for hosts. Understanding market trends is crucial for adapting pricing and marketing strategies, ensuring continued profitability.
Curated by Learn STR by GoStudioM