Real estate investor Julia Lemberskiy brings in up to $20,000 a month in Airbnb revenue. She also looks for markets where there's a lot of demand and not a lot of supply.She was renting an apartment in New York City with her husband and felt"cooped up" when the pandemic hit, she told Insider. They found a three-bedroom home about 70 miles north of the city, closed in March 2021, and figured they'd escape there most weekends.
The Florida property is the newest to Airbnb. When she bought it in September 2021 it was already occupied with a tenant. It remained a long-term rental until January 2023, when she first started listing it on Airbnb. Her long-term goal is to hit $1 million in annual revenue, which is about $83,000 a month, she said:"I'm not in a rush to get there but in the next five years we can slowly edge up that way. A year ago, in May 2022, I was at zero revenue and now it's $20,000 so I don't think it's super unrealistic to get to over $80,000."
Lemberskiy, who says she binge watches renovation shows, designs all of the spaces herself. Pictured is her West Palm Beach Airbnb.She decorates everything herself. In fact,"that's my favorite part about setting up Airbnbs," she said."I love to shop, and now I have a reason to shop. I will go to HomeGoods and Marshalls and find all these cool, discounted decor and kitchen items — cool, quirky cool things like a popcorn machine — and I can tax deduct it all.
Before listing her properties, she likes to spend time walking around the area, which helps her come up with a list of activity and restaurant suggestions for her guests. "Some hosts charge a huge cleaning fee and will send you a whole list of chores to do at check-out, like stripping the bed and starting the laundry, which I find so frustrating," she said."For all my listings I have the smallest cleaning fee possible and there are no check-out instructions. It's just, close the door behind you. People really appreciate these things.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MarketWatch - 🏆 3. / 97 Read more »
I use ChatGPT and it's like having a personal assistant for $20 a monthI use ChatGPT and it's like having a 24/7 personal assistant for $20 a month. Here are 5 ways it's helping me save time and make more money.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Airbnb says it's rolling out improvements, including 'Airbnb Rooms'Airbnb is rolling out extensive changes to its platform, including 'Airbnb Rooms,' which it says will make it easier for travelers to stay with locals
Source: BusinessInsider - 🏆 729. / 51 Read more »