I was scared to start an Airbnb but found it's one of the easiest ways to make money on the side. Here's how I make an extra $4,000 a month.
Genesis Hinckley is a policy product specialist at Google who also runs an Airbnb in Colorado.This is Genesis Hinckley's story, as told to writer Dorothy Cucci.
A lot of people are intimidated by taking on a project like this, whether it's investing in the stock market or real estate, simply because of a lack of knowledge. Once we started educating ourselves, we realized it was much easier than we anticipated.Step one: Decide on a specific gameplan We made sure we got prequalified for a loan before actually pursuing anything, and when we were house hunting, we knew exactly what we were looking for. Having that criteria made it a lot easier to narrow down our search.
Again, we budgeted the smallest amount of money we could while still making it look special. Instead of knocking down walls and remodeling everything, we spent only $2,000 on revamping the basement with simple upgrades. And equally important, your Airbnb's description needs to be as descriptive as possible. If you also live in the building, will there be any kids, pets, or shared spaces? What's the parking situation? How far away is the home from cities and attractions guests might want to visit? You might even want to include whether or not there are any cemeteries nearby for superstitious guests.
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