E3: Everything You Need To Know About Airbnb Investing From Start to Finish: Seattle Living & Wealth Building Show
Are you considering becoming an Airbnb or Vrbo host? Not sure how to start the process? In this episode of the Seattle Living & Wealth Building podcast, the Wagner team welcomes Adrian Bell to talk about buying and growing an Airbnb rental property from start to finish. Tune in as we break down tips, hacks, and strategies for buying, furnishing, marketing, and differentiating your investment property from others on the market.
You’ll gain insight into how to maximize the ROI on your Airbnb rental, the importance of profiling the different types of guests you host, how to sustain year-round demand, potential issues with HOAs, and so much more. If you’re dancing around the idea of investing in a short-term rental property (or multiple), grab our hands and let’s waltz through it together!
Key Topics/What You’ll Learn:
[00:44] Introducing Adrian Bell and today’s topic
[03:41] What to consider when buying, furnishing, and decorating an Airbnb rental
[06:52] How to maintain year-round demand for an Airbnb in any market
[08:29] Reasons for buying short-term rentals, like Airbnb and Vrbo, and common mistakes Airbnb hosts make
[12:04] Differentiation: Why it’s important to create a story or niche for your Airbnb rental property
[16:37] Marketing: The impact of social media on Airbnb and similar vacation rentals & Tips and tricks for boosting your rental on Airbnb
[18:31] How long does it take to launch an Airbnb? & How supply chain issues and seasonality are impacting Airbnb hosts
[23:15] How Adrian learned the business of Airbnb and vacation rentals
[26:14] Tips and advice for becoming a Superhost
[31:23] Will demand of Airbnbs rise in the future or will saturation become an issue?
[35:49] Increasing the cash flow of your investment property & Why you need a budget
[38:47] Updates on Lisa and Maynard’s new Airbnb
[40:42] Budgeting: Upfront costs, average cost per square foot, making decisions with partner, and more.
[45:08] What makes you say “yes” to an investment property?
[50:19] What is a reasonable price to spend on an investment property?
[53:56] Potential issues with HOAs and short-term rentals
[57:20] What NOT to do when buying an Airbnb rental property