Shampoo and Booze Episode 47: Renting Long Term vs Renting Short Term

iTunes   YouTube   Download .mp3  Download .ogg

(I emailed you their photo)

Mike and his wife, Brenda, have worked full time jobs for the past thirty years. They have also been building a small real estate empire in their hometown in Michigan as they've bought up duplexes, condos, and single family houses. These are all full-time rentals to long term residents. But recently they decided to buy a beach condo in Florida and try doing vacation rentals on Airbnb.

In our conversation Mike shares the differences between these two kind of rental strategies and, more importantly, goes deep into his numbers. We've thought about possible buying local houses to rent full time, so Mike gave us some good perspective. He tells us how much work each kind of rental takes which helps us decide which one works best for us.

Thinking of becoming an Airbnb host or guest? Use our referral code and get $20 off your next stay or $80 credit if you become a host!

Check out Mike and Brenda's super cute condo on the beach:

Shampoo and Booze Episode 46: How to Deal with the Off-Season Slump

iTunes   YouTube   Download .mp3  Download .ogg

We live in a part of the country where people like to go on vacation. The big attractions are hiking in the Shenandoah National Park and floating down the Shenandoah River. The popular season starts around March when Spring is creeping in and ends around November when the beautiful Fall leaves finally all disappear. December, January, and February are usually pretty quiet.

In this episode, we brainstorm ways to attract people to our rental during these quiet months. While we can't imagine being fully booked, our goal is to at least attract the people who want to escape the city and have a quiet winter weekend. We will take advantage of the quiet time to do maintenance and some heavy cleaning, but letting our asset go empty for any length of time just feels wrong! Please share any suggestions if you also live in an area where bookings drop during a certain period of the year.

By the way, here's the link to that article we mention about ocean front property on the East Coast being a dangerous bargain because of future flooding from Climate Change. (Or a great deal if you don't believe in it.)

Thinking of becoming an Airbnb host or guest? Use our referral code and get $20 off your next stay or $80 credit if you become a host!

Shampoo and Booze Episode 45: Update of our Renovation Project w/ Photos

iTunes   YouTube   Download .mp3  Download .ogg

We are almost done with stage one of our renovation project on our second rental. This means we have gutted the house, built out and added almost 400 square feet of new space, and put it under a roof. It only took us a month to do this. Stage two is doing the electric, plumbing, HVAC, and insulation. Stage three is sheet rock, laying down the floors, and finish work. Can we finish and get it rented by Springtime? Let's see!

Thinking of becoming an Airbnb host or guest? Use our referral code and get $20 off your next stay or $80 credit if you become a host!


















Shampoo and Booze Episode 44: The Duplex, A Home and An Airbnb Business

iTunes   YouTube   Download .mp3  Download .ogg

April lives and hosts in beautiful Lake Tahoe, California. She moved there when she was young so she could ski all winter. Being smart, she bought a duplex where she could live on one side and rent the other half. Add being a bartender and she created a pretty great life.

But recently when her long time tenant moved out, April decided to try Airbnb. Very quickly she was making much more money. Her duplex was an even better idea than she could have dreamed of when she bought it years ago.

We enjoyed listening to April share how she updated her interior design to attract Airbnb guests, how she does check-ins, and her experience living right next to her renters. Plus, her plans for the future. Check out the super cute duplex in the photos below.

We would love to buy a dulpex as well because it's often the price of a single home, but has two  units. If you live in a beautiful place, it's a great investment for renting to vacationers.

Just ask questions in the comments. We'd love to hear your experience.

Thinking of becoming an Airbnb host or guest? Use our referral code and get $20 off your next stay or $80 credit if you become a host!






Shampoo and Booze Episode 43: The Stress of Renovation

iTunes   YouTube   Download .mp3  Download .ogg

We're into our second week of renovating our second rental AKA the River House. The video and photos below show how we're gutting the house and adding on an additional room. We're uncovering everything to make sure we fix any issues and do it right the first time. The job will last at least twelve more weeks (maybe longer!?)

This is our third house that we've fully renovated, so we're not amateurs. But it doesn't make it any less stressful. Handfuls of money are flying out the door each day. Even if when we plan all the details, some things remain out of our control. The good news? We know that this project will end, the house will be awesome, and we'll make money from it for years to come. It's that gap between now and then that's painful. Some people invest in 401k's. We invest in rental property.

We'd love to hear other people's stories on renovations. Was it worth it?





Thinking of becoming an Airbnb host or guest? Use our referral code and get $20 off your next stay or $80 credit if you become a host!