Today I want to walk through the process that Kate and I have been using to do Airbnb market research using only the internet and the Airbnb website. We've been looking to buy another short term rental investment property outside of our home town, and we have a few cities that we're looking at. This is the process I've been using to determine how many people are using Airbnb in each city, what the level of competition is, and how much I think we could make.
There are many paths to financial freedom and that's great, because there are many different types of people. Sometimes the difference between success and failure is just whether you come across the right path. I'm hoping my list of 50 ways to make money while you sleep will expose you to many paths to a better financial future.
I majored in physics in college. When I think of leverage in the context of the physical world, I think of turning a small force into a bigger force, typically using a “lever”. With the right lever, you can lift something 10 times your own weight, like this: In the world of money, we also have access to a lever. This lever allows us to buy an asset worth 10 times more than the amount of money we have to invest. This lever is called a loan. The Basic Idea Of Money Leverage Many non-investors around the world leverage their money to buy a home. You can buy a $200,000 home for $20,000 (or less). That’s leverage with money: using a small amount of your own money to purchase something much more expensive. In this scenario, the cost of getting…
Buy Then Build is a great resource for investors looking to buy a business. The author, Walker Deibel, is a self proclaimed “acquisition entrepreneur,” which is what he calls the intersection of entrepreneurship and investing. Overall, I strongly recommend the book for anyone interested in buying a business for the first time. Real Estate Was Too Slow I became interested in buying a business after setting some pretty over the top financial goals. Kate and I were making $70,000 a year from our Airbnb investments, allowing Kate to quit her job. But we wanted to create $350,000 of yearly income over the next two years, and real estate investing wasn’t going to get us there. As I continued researching the most lucrative investments, the one that clearly seemed to be the best for both short and long term was business…
Last year I decided to write down some affirmations to read aloud to myself every day. This year I wanted to try recording my affirmations and listening to them instead.
It’s Christmas time 2020 while I’m writing this, and to treat myself I decided to write an abbreviated version of a fun idea I had when I first started this blog. There are millions of humans in our world that make a yearly salary of approximately $40,000 USD. Some of them will go on to become extremely wealthy, while others will eventually declare bankruptcy. I thought it would be interesting to explore what takes a person making $40,000 per year into extreme debt, no wealth, some wealth, or extreme wealth. How much can our actions, our personal finance knowledge/execution and our investing knowledge/execution really affect our eventual net worth? Let’s find out. How To Turn $40,000 Per Year Into Extreme Debt First, it’s important to understand how a person ends up in crippling debt. Financially speaking, being in a spot…
I can say with confidence that Keurigs are some of the best coffee makers for your Airbnb. They are easy for your guests to use and they don't break.
It's no secret. The best vacuum for Airbnb is one that cleans your floors exceptionally well, and it doesn't break down.
In my experience, the best mattress for an Airbnb is a 12 inch, extra plush, memory foam mattress.
The best mini fridge for your Airbnb is one that serves your guests and you. There are three primary uses for a mini fridge: to provide consumables for your guests, to provide storage for your guests, and to sell to your guests.