Summary: AirBnB has reshaped the way our society thinks about travel and rental properties. But the lucrative process of side-hustling AirBnB has looong surpassed it's opportunity, right??<br> <br> Nope.<br> <br> Our guest today is Zeona McIntyre (https://www.zeonamcintyre.com), an AirBnB expert who has years of experience managing her own (and other peoples!) AirBnB properties...all for the purpose of working towards FI.<br> <br> In fact, she makes well over six-figures and owns five properties across multiple states...just for AirBnB. I'd call that expert-level.<br> <br> We chat...<br> <br> How she got started in the first place, and why AirBnB?<br> How she grew (great entry-level tips for first-timers, and great REI tips in there as well)<br> Managing properties remotely<br> Why you might need to try out a relationship shaman :)<br> <br> She was an absolute delight to speak with. Enjoy!<br> <br> <br> Show notes and links from today's episode<br> <br> Zeona's blog: https://www.zeonamcintyre.com/<br> Suzi Orman - personal finance author (Zeona first got into personal finance watching Suzi Orman tapes with her mom!)<br> Mr. Money Mustache - yes, we mentioned MMM again :)<br> AirBnB<br> Headspace App - Fantastic meditation app<br> TaskRabbit - cool place to find people online to do....well, random tasks!<br> <br> Key takeaways from our chat with Zeona McIntyre<br> 1 - There is a still a LOT of potential for AirBnB, despite everyone knowing about it<br> AirBnB is mainstream now, but that doesn't mean opportunities are dwindling (see point 1.5 below).<br> <br> One important note: An AirBnB rental is a different animal than long-term REI rentals.<br> <br> One vital tip Zeona gave was this: make sure to look at the long-term math. If AirBnB fails 7 years from now (or your local government lays the crackdown on your property), you need to make sure alternative solutions are available (i.e. does long-term renting make sense for this property? Could you easily re-sell? etc).<br> <br> Also, though more and more landlords are specifically including AirBnb limitations in their leases...the effects of subletting like this is becoming better and better understood.<br> <br> You might honestly just talk to your landlords and make an exception. Most know what AirBnB is about these days.<br> 1.5 - Abundance mindset vs. Scarcity mindset<br> Semi-related.<br> <br> Don't fear competition.<br> <br> Sure. AirBnB listings are increasing, it's true...but so are the people traveling.<br> <br> In addition to AirBnB, the mindset switch to abundance-thinking can literally affect your entire life.<br> <br> Start viewing potential competitors as teammates, and your jealousy and anxiety could very well plummet. There is plenty of life-pie for all of us at the table. :) :)<br> 2 - 90% of the time, a house is not a good investment<br> This could very well turn into a 8,392 word count blog post...but we'll just serve to reinforce the point here.<br> <br> Our culture largely thinks of a house (or property) as an asset, where is probably isn't for most people.<br> <br> Yes, your mortgage payments might be building equity, but this only 1 of 20-50 other factors that should be considered.<br> <br> Repairs and maintenance can cost....a lot. Any new homeowner can relate.<br> Interest expense.<br> Taxes<br> Insurance<br> HOA fees?<br> <br> Owning a home is sweet. Owning a rental or AirBnb property is sweet as well...but proper due diligence, research, and thought should be put into purchasing a piece of property.<br> <br> It's not an asset simply because "you're building equity."<br> 3 - How Zeona furnishes her newly-bought AirBnB properties.<br> While not an "actionable tip" from the episode, Zeona's creativity and resourcefulness are to be admired.
