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WE STARTED RENTING OUT A ROOM IN OUR HOUSE AND TURNED INTO A $300,000 INCOME

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Marissa Truong

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AGENDA

  • Introduction – who is AirBNB?
  • Current Trends
  • Truong history w/ the platform
  • Subject Property - review
  • Take-Away’s

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INTRODUCTION: �WHO IS AIRBNB?

  • The year was 2007, and roommates Joe Gebbia and Brian Chesky couldn't afford their San Francisco rent.
  • The pair knew a big design conference was coming to San Francisco, and it was making hotels hard to come by.
  • And so it all started with an email: Gebbia wrote Chesky with an idea: What if they made turned their loft into a designer's bed and breakfast, complete with a sleeping mat and breakfast? It was a way to "make a few bucks."

Source: business insider 2020

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WHERE ARE THEY NOW? – FUN FACTS

  • There are 4 million hosts on Airbnb worldwide. 
  • There have been a total of 900 million arrivals in over 220 countries & 100,000 cities worldwide.
  • Did you know that senior women tend to be rated the best hosts out of all other demographics?
  • AirBNB is now worth 72.19 billion as of today

Source: dreambigtravelfar&NASDAQ

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A Truong History

The Story of Early Adoption

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TIMELINE

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Rented a bedroom in our house

May 2013

2014

Revenue from AirBNB exceeds $95,000

Second profile is created in AirBNB

Jan 2021

AirBNB Income exceeds $300,000

2022

Currently, our portfolio includes 6 doors on AirBNB, 5 traditional rentals & 3 “work in progress/flips”

Apr 2023

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THE REASON WHY…

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SUBJECT PROPERTY: A REVIEW

  • 5 Bedroom/4.5 bathroom – 3304 sq ft. 1.75 acres
  • 9/25/2017: appraised value: $850,000 (after renovation)
  • Current zestimate: +$1.5mm
  • Loan Amount: $405,000
  • PITI/month: $2,900
  • Traditional Rental rate: $4000/month

Source: MLSPIN

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WHAT IT LOOKS LIKE ON AIRBNB

Apr 2022/ Apr 2023

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THE BOTTOM LINE

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Subject Property

Average Monthly Rent

Average monthly AirBNB Income

SF 5/4.5 Home

$4,000

$8,834

Monthly Expense

$3,300*

$5,279

Monthly Net Income

$700

$3,560

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*includes water/sewer & snowplow

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TAKE-AWAY’S

  • NOT PASSIVE INCOME STREAM
  • MAKE SURE YOU HAVE A GOOD TEAM & SYSTEMS IN PLACE

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  • REMEMBER: PEOPLE BUY WITH THEIR EYES – INVEST IN PROFESSIONAL PHOTOGRAPHY
  • STAY AT PROPERTY BEFORE YOU PUT ON MARKET (TO MAKE SURE IT’S TURNKEY)

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  • CHECK TOWN/CITY GUIDELINES – TAX RAMIFICATION
  • JOIN AIRBNB COMMUNITY BLOG, YOU’LL LEARN MORE THERE THAN ANYWHERE ELSE

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ANOTHER COOL THING ABOUT AIRBNB…

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Business opportunities are like buses. There's always another one coming.

Richard Branson

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“

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THANK YOU

Marissa Truong

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617.413.3342

Marissa@teamtruong.com

teamtruong@exprealty.com