How Much Money My Airbnb Made In It's First Month
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Hey Shelby, Superhost here in South Carolina. I would recommend allocating at least 25% of your profits into an account for long-term maintenance. In the luxury market, you will need to be constantly looking for expensive maintenance projects. You may have cracked concrete in a year. New roof in 7 years. New appliances every 3 years. Many of your furniture items will wear out about every year. People expect furniture to not be worn, scratched, or stained. In luxury markets, a lot of this constant maintenance is not accounted for right out the gate. My second piece of advice is allocating 25% of profits into an account going towards your next property or unit. Scale this thing, automate everything, and that’s where the real money comes in. Third piece of advice: don’t take damage too personal. I can tell you put a lot of heart into this project. Now that it’s done, let it go, grieve the loss and treat everything as the cost of doing business. It’s easy to get down in the dumps when someone destroys something you invested your heart into. Great job Shelby!
Great advice 👍
Wow great advice! I’m 18 and I wanna become a host in the future!
Thanks for your post. Within it, you gave me an interesting idea for a possible venture to launch.
Having to replace furniture regularly anyway because it gets worn, really makes a huge psychological difference for me, because now I don't think I'd be as pissed that someone destroyed a piece of furniture. Thanks!
@@saptab1344 good luck! :D
I think it would be better if you calculate the yearly pool heating costs and slightly increase your average price per night. Personally pool heating fees would put me off and I'd rather go to a hotel
Agreed!!!
Always, hide that shit from me just like resort fees and parking.
Totally agree!
I agree. But the reason they most likely do it this way is Because some guests would rather just save the $ and not even heat the pool. It’s optional.
@Seth Bender considering the pool is their main feature, most guests probably book the house because of the pool.
SHELBY! GET A POOL COVER THAT TRAPS THE HEAT IN!!! It’ll make it soooooo much cheaper!! They pull in the sunlight and trap heat under the cover and they’re soo easy to put on and off the guests can do it !!! It’ll save so much money
this is great advice!
Great idea or a solar heating system
This is FALSE! They are NOT EASY TO PUT ON OR REMOVE!!! Omg I spent 3600 on mine and it sits in the pool box! Get a pool heater. Period
@@mybitchinvegankitchen900 this isn’t true, I’ve stayed at so many airbnbs with them and it takes less than a minute to take off and 2 minutes to roll it back on
💡Great idea Jenni! Would you mind sharing more?
My brother purchased a 22 acre lot with a main house, 3 small cabins and 1 big cabin in east Texas a couple years back for about $500k. He turned the 4 cabins into short term rentals on Air BnB. He brings in between $15k and $18k per month. Expenses are about $4.5k per month. He is getting ready to add a 5th cabin. He absolutely loves it. He has super host status too. Already talking to the neighbors about purchasing their land to expand. There is a lot of money in it if you do it right. He was afraid Covid was going to slow him down. Not at all. People wanted to get away from the city during that time.
Very nice. He should do UT vid on this airbnb :). Thanks
💡Great idea! Would you mind sharing more?
You should add solar for the pool, made a huge difference for us and it pretty much keeps it heated at 82-84 year around!! You can adjust temp if you want, we just usually kept it at 82, which was perfect!!
This is such a great video. I really want to get into real estate soon. Even if your profit stays at the minimum of 6k a month, that ends up being around 72k a year. That’s a whole salary or two for some people. So proud of you figuring this stuff out one day at a time!
I am trying to get into real estate also. We should talk
How many years to break even, or recoup sunk costs?
@@nuclearpoweredbrain2211 I’d say 3-5 years. If it was a regular rental closer to 10, that’s the power of a STR.
@@1happyfamily775 no she don't want chu simp
@@nuclearpoweredbrain2211 yeah they spent $80k at least on the backyard alone...
This is such a good video! Im looking to purchase a property in Puerto Rico and Airbnb it, the homes there are still slightly cheap and is a vacation area for alot of people. This video definitely helps!! Thank you! 🙌
im so glad i found this channel. im hesitant about starting this with my moms property but you make it really easy to understand and not hectic like some people. Thank you for that!
I’ve loved watching this whole process from when you guys bought the house to now! So cool to see how far the house has come and super exciting to hear that it’s already doing well for you guys on Airbnb!
Congrats girls!! And of course a BIG Thank You to your dad for all the help!! Though that's what Dad's are for - I'm sure he is very proud!
It will be really exciting after a full year to compare the $$ for renovations, etc.. and at what point that breaks even. This has been great to follow & hopefully it has been lucrative content for you as well! Thank you for sharing the journey!
Good luck for the next month! Have seen your whole journey excited to see you succeed in your projects
My family installed solar water heater system 10years ago when solar systems were pretty new and if you live in sunny area like palm springs it's actually pretty effective. Yes intial cost is there and you do need to maintain it time to time but in long term it saves lot of money. Hope this helps. 😊
Not to effective. We had solar in Palm Springs. Works in the spring. But in the cold months doesn't really heat much. It's more than just the sun. Your outside temps also affect the temp of the pool and how effective the solar works.
@@RichardDeHaven i should have mentioned that I live in India. And it's true in winters it takes time to heat up because of the angle of the sun rays. But we use it for domestic purposes for the family of 5 (showers etc) not for the pool and it serves it's purpose.
@@radhikapatil1986 domestic purposes makes a huge difference and it works great for that purpose. A pool is 10,000 to 15,000 gallons of water. That's a large body of water.
I was thinking the same thing. :)
I had the same suggestion to my friend and he said the problem with that is that it only work during day time and also keeping the water hot during the day get them evaporated faster so he would need to refill the pool constantly and here in LA water are very expensive
I think that if people are willing to book a 700$/night house they would appreciate not having a pool fee to heat it up. Maybe you can keep that for the winter months but starting in spring, just add that to the night fee. People are more likely to spend more on the house itself and they know it's expensive due to the pool being heated.
In Palm Springs. there is no need to heat the pool in the hot months which is on average 6 to 7 months out of the year. So why have the guests pay more when it's not needed? Soon that 700 a night house becomes 1,000 a night. When you give discounts for weekly and monthly you'll end up giving a discount on the included hidden pool fee as a nightly fee which then you end up losing money.
💡Great idea! Would you mind sharing more?
💡Great idea! Would you mind sharing more?
These videos are cool! Great breakdown. I'm gonna book your place some day
Shelbers if you made a Skillshare course on how to buy, renovate, and monetize a house, I would watch.
Pretty cool of you to share this info Shelby! Even if you end up averaging $2-6k/month gross profit over the year...it's making money and the guests will help you improve by making suggestions. I know I offer suggestions all the time when I rent on airbnb and vrbo to the owners from my experience. Plus you'll learn more as you go to help streamline things. 2 wicked smart women running the show. Nice!
💡Great idea! Would you mind sharing more?
Excellent video Shelb. Gotta be honest and say I didn't think this experiment would work out. But I gotta eat shit. You two knocked it out of the ballpark. Congratz.
Congratulations on the growth. This is a GREAT series. And the most informative video out there. Great job.
Look into solar heating for the pool where the water runs through pipes on a roof, it's what my folks had in San Jose, CA and worked great.
I LOVE the details you’ve continued putting into the place! The balloon animal statue is amazing 🤣💙
Was so looking towards this video! Glad to hear after all your hard work the income/profit that you're getting. Keep up the great work!
You guys are so inspiring. Thank you for sharing these experiences Shelby!
Oh my goodness! The gardener!! I need answers!! That’s so odd he never charges you?? Is it going to bill you all at once? Is he in love with you? Were you somehow forgotten about by the bill people?!?
Not sure why THATS the detail I’m stuck on but this is gonna haunt me
I'm sure he will eventually bill me but it's very odd! lol
This is really helpful information Shelby. I have always enjoyed watching your videos. I think what make your channel different from other people's is that you are very honest with your numbers and actually showing us the numbers, which is super super helpful for us (audience) thinking to getting into similar business. Really really appreciate! I will continue to be your fan and support you! :) Hope you and family have a great year ahead!
Hey Shelby! great video as always - i've loved seeing the progression of the palm springs house over the year! Just a heads up: i think your description just needs a double check! :)
I have a successful Airbnb and the key is really around launching properly and knowing Airbnb’s algorithm to make sure your listing is on the top of everyone’s search. The first few weeks are very crucial to your success. Also comparing what other places go for on Airbnb isn’t a good indicator of how you’ll do or how you should price your property as it doesn’t account for occupancy rate. There are lots of programs out there where you can buy actual Airbnb data which helps create better projections.
I’d love to connect and learn more about your strategy and provide any help or just maybe just a few things you might not have considered to help boost your listing!
Can you share what data tool this is?
@@TechWithLukasz you could use airdna
How can I contact you I need help
You can coil a gardening hose in a spread out pattern on your roof and pump water through it from your pool back into your pool. Have the sun heat the hose with water in it. This is what my Grandpa does to save on pool heating cost.
genius
That doesn't work all the time , What if customer wants hot water at night ?
@@FarazShaikh09 the idea you suggested as an alternative is way better, you’re right…
@@rutchjohnson because I have gone through all this type of situations, I own 2 farm house's in india so i have lil experience in it !
@@FarazShaikh09 but it’s still a valid approach as a supplement to the expensive heater… lol
Thanks for sharing Shelby! I found your channel a few years ago and you inspired me to start working on my own stuff. Thank you and I am glad I cam across your channel. Best wishes for you ^_^
This is great! I really enjoyed this video, it's so interesting to see how much money you made from airbnb and hopefully you'll continue making lots of money with it. ☺️
Awesome work Shelby! You have inspired me to want to do something like this someday with a family member or solo. Congrats on all of your success!
This is great. I'm so happy that you're getting some of your money back. You invested so much! I hope you continue to have much success with this.
I appreciate how honest you are about your airbnb process. Not all other large TH-camrs are transparent about the realities of short-term rentals.
This was great. I would definitely want to get into this myself. Loved the vibe of your Airbnb!
Very interesting!!
My husband and I run an airbnb in a small town in Wyoming. We don't make nearly as much as you do, winter was quite slow BUT we've been very successful with this endeavor overall.
We bought a sad, 100 year old house a year ago. It took my husband just 5 months to flip it, with the help of friends and family. I got to decorate it in the end and I handle all the cleaning, bookings, lawn care in the summer. Snow removal. Most of the communication. I mean, we handle everything ourselves. We're lucky to clear $2500, even in the summer but it's been very rewarding hosting and having everyone so satisfied with what we've done with this old house.
With all that said...we are selling our airbnb this fall and moving on to different real estate opportunities. ☺️
I wouldn't call it passive at all. You guys put your blood, sweat and tears plus tons of money into this place. And in the meantime you vlogged the entire job and by doing that, you taught your viewers and/or subscribers what to do or what not to do when renovating a house. So maybe residual income better word? Regardless, you deserve a standing ovation!🥰🥰
don't forget she also made money from the vlogs of the whole process!
Yes So happy for them Shelby’s done a good job
💡Great idea Mallory! Would you mind sharing more?
Wow, I was very shocked by how much it costs to heat a pool! Not something I’ve ever considered or even knew was something that came with owning a pool!
mmm, we are putting in pool heating and guests just expect it, they've no clue how pricey it is. also costing $10K just to install it.
I might invest in Solar or a cover that keeps the pool warm.
So cool that all your hard work is finally paying off!
ooo congrats on the fully booked March! Good luck with future bookings :)
Just the video I was waiting for!! Great well done Shelby
Thank you for consistently bring us with great info videos in diff areas
I don't know why but I am so invested in this story. Live for these updates. Looks fabulous. Congratulations.
Shelby, you should DEFINITELY make a video about picking your next property based on AirDNA.co data. It’s worked marvels for finding my first property. Cash flowing so much
Thank you for sharing this! I know sharing financials can be scary because of how much people judge, but this really is educational and helps me with financial decisions.
If it pays the mortgage, taxes and expenses it's already a great investment. Maybe people are more likely to rent a bigger pool as long as the heating cost is on par with the competition. I think that in the end you might make more by paying some of that heating. But if it looks like it's always fully booked then maybe re-evaluate.
Have been making losses trading myself .... I THOUGHT trading on demo account is just like trading the real market .. can anyone help me out or at least advice me on what to do ?
I literally want to wake up one morning to discover my portfolio is above $60k
@@harrisvangeest5134 I will recommend you stop trading on your own if you keep losing and start trading with a professional.
The mentorship from a professional coach should definitely be the first step taken while trading.
@@joachimmilberg2313 This is refreshing coincidence,she has been handling my trade, it’s been a year now and the experience has been amazing.
Omg i just saw this for the first time in March 2023! Holy cow, I can’t believe how far you’ve come, Shelby! 🤯
I like your honesty tiny gal, good or bad..
You will do LOT better as summer gets closer..
Looking good.
Good 👍🏼 to know the ins and outs your own Airbnb property. The gardener I'm sure he likes you for being you 👍 you're a cool person and a TH-camr.
Thanks for sharing! I appreciate all of the info!
Really enjoying hearing more about the behind the scenes of the AirBnb! But its so annoying when influencers advertise non-apple products when they exclusively use apple products any other day!
Hey Shelby, Congrats as your AirBnB gets going. Very informative info. Continued best wishes.
Hey Shelby! Would be interesting to see if this could be turned into a series or patreon topic as it would be interesting to learn about how this airbnb journey goes for you. Curious to know if you had any concerns about property maintenance over the long run for this airbnb. congrats again on this exciting venture!
Thank you for making this! So insightful 😊
Wow I love this!!! I’ve been wanting to buy a home to use for air bnb and this was so nice to see the number breakdown!
WOW that is crazy, I really want to start an Airbnb even more now!
ugh it turned out SO GOOD! seriously thinking of booking in myself for a weekend vacay
7:39 what a stunning shot!! Also, really off topic but your hair looks amazing in this 🤩
I’m really impressed with all that you have accomplished. Well done!
I appreciate that you keep pool costs separate- I don't enjoy pool time much and having an option to opt out is NICE
Congratulations! You guys worked so hard on this. It makes me want to get into Airbnb. This is a good example of the rich getting richer, but more power to you!
definitely gave me mixed feelings. on one hand, it's impressive and they did work hard. on the other....ugh more passive income from a secondary property when a lot of people can barely afford a primary residence :/
Yeah not really their fault tho I’d be doing the same in their position Not to mention it’s both Shelby and Monica’s money put into it Most of us don’t have a sibling to split costs with like that in order to make more money
High quality content. Keep it up, Shelby!!
Loved this video!! Great job David.
This is awesome! I’d love to see more videos like this!
Just a couple of thoughts…give your friends or family the house for a couple of long weekends after launch to get a few positive reviews and bump up in the search rankings. List it through the website for cheap and have them pay for it or list it at market price and just pay for it yourself. You’ll have to eat the fees and taxes, but totally worth it!
Edit: this will also help you to understand the livability of the house more and allow you to fix any small issues before having “real” renters. Also, you need to charge a separate non-refundable “pool heating fee” throughout the entire year and just let the renter decide. Also that heat cost is close to normal. You should look into a thermal pool cover for non rental days. The sun will help heat the pool…and the sun is free!
Super inspirational to start a air bnb business. Thanks for all the insight and your honesty. 💯
Shoutout to your Gardner!!!!! I hope you get him/her a nice tip or something! :) Good help and trustworthy help is very hard to find.
PS: when are you going back on the iced coffee hour podcast??????
Learned a lot through this video! Thank you! I wonder how do people find the management team who help you manage the property and what specific things they cover? Maybe next video😆
Hi Shelby! Thank you for the video! In the annual profit video, can you also include the cost to fully furnish the property and replacement of items you provided (like toiletries, new bedding, new towels, etc.)?
great video thanks for the transparency!
I highly recommend getting some solar panels for heating the pool or just to offset your electric bill and charge your Tesla while you’re actually there.
Very motivating... Thanks Shelby 😘
Great video as always. I know I’ve said it’s awesome before, but it’s awesome again! Lol. As for electricity costs though, have you ever considered installing solar panels on the roof at some point in the future? Also, for heating a pool cheaply, just turn off the water circulation for a few hours on a very sunny day, and the sun should heat it up. That’s what my family did whenever we had a pool.
Over the years, most of our gardeners have sent us a bill once every 2-8 months 😂 And they never know how much I owe if I just ask them while they happen to be here. I think they just aren't very good at paperwork (or don't like it) so there is no regular cadence, but in my experience they all do eventually ask for their money.
okay I figured he would eventually hahah
@@ShelbyChurch I would ask him next time! Though free gardening would be nice lol
that was the funniest part 😂
Same. My parents gardener nails them an invoice 🧾 and never seems to know what’s going on regarding finances😂 🌱
@@ShelbyChurch you are aware there is a battle to ban them in palm springs
Best wishes for the next month, Shelby :)
The gardner haha - Good luck with everything! Those pool heating costs are insane, you gotta charge the visitors to use it; that's super common when I rent houses in Palm Springs.
Do a pool calculation for winter & summer. If it cost $50 more p/d in winter divide it in 2 part $20 goes to the normal heating rate, 30$ Is absorbed by you and regain in summer when heating is less by putting $2+ p/d. The less you increase it in the winter the better, it's a great marketing point to increase sales. I manage hotels private villa and that's what i do, idk if other hotel do the same thing but it's my way and work great so far.
I need an Airbnb man! Cool Vid!
Could we get an updated expense fee of the pool! Great video and love to see all the realistic costs covered here. Great detailed video loved this
This is very interesting! Please keep doing these videos.
Great success! Now I want my own Airbnb!
I would be interested to learn how long it will take to pay off all the renovations and beginning costs you put into the house.
Speaking from experience running a vacation rental in the desert. People keep saying include the heating fee don't fully understand how it all works. When you rent a vacation rental in Palm Springs or other cities, there are taxes, resort fees, cleaning fees, pool fees, insurance fee and possibly others. Some of your fees and taxes are based on the per nightly charge. So if you were to include the fees you will end up paying more in fees and taxes than if separated. Pool usually only needs to be heated during the cold few months. 6 to 7 months out of the year it's not really needed so people don't usually pay the heating cost. Jacuzzi is another issue. If it's separate from the pool easier to heat. Heating a pool in palm springs daily for a month averages $3,000 but that is all dependent on the size pool. Our fees are a base nightly charge of 400. Cleaning fee went from 240 to 480. We steam clean everything now. Takes double the time than before covid. We don't keep that money. Goes directly to the professional cleaners. resort fees and taxes are dependent on the nightly base charge. 50 a night pool heating fee is optional, 99 dollar insurance charge (not optional) which goes directly to insurance company in case you break anything. We have used it 3 times. One time to replace the wood flooring cause the guests flooded the house. one of the kids left the bathtub water running while it was plugged and they were gone all day. That was a 12,000 dollar repair job. Another time the guests raised the water heater temp to the highest possible without asking us, which plumbers tell you not to do. The water heater built up pressure and failed. The insurance replaced it at a cost of $1500. Another time a group of bachelorettes plugged up the plumbing with all the feminine products. Plumber was called out to fix the problem and it was 800 dollars to clear the pipes but the insurance paid for it. We will never rent without that insurance policy again. We learned the hard way when guests broke the garage door and we had to pay for the repairs. $2,000. We could have taken the guests to court but they were from out of state. Too much trouble. Dont' forget the service fee that airbnb or vrbo or the others charge too based on your nightly charge.
Great video as usual! Can you please go over what your property management does?
Yes! Super excited to see profit because I wanna buy something soon!
I’m renting an Airbnb in Scottsdale and it seems like they hear the pool with gas and also use those plastic pool covers that helps to insulate and keep the pool host and costs down. It’s extra work for the tenants, but it could/should help with being able to keep your costs lower than it would be without it.
My house has a pool/spa and I always dread my utility bill when we heat up the spa for even a few hours lol. Good luck!
Loved this! Your house is beyond beautiful 🧡︎
But, have you considered installing solar panels on your roof?
You probably could save some electricity cost and keep more money in your pocket.
I appreciate your transparency! Congratulations again to you and Monica for making such a beautiful investment property!
You should look into a solar pool heater that can go on our roof. My parents place in PSP has it.
Wow that is actually really good. Imagine the summer months without the pool heating.
Really enjoyed this video. The place looks sick as well! Can I come do food reviews in your Airbnb if I rent it out?
Good luck to you going forward with the airbnb. Not a bad start. Imagine how much you both will be pulling in by the end of April
I thought it was very insightful! Thank you!
Over time property value goes up, cost of booking goes up, profit goes up, mortgage gets paid down, great stuff
From someone living in such a different area it’s crazy to see “$700/night” when my mortgage is under $400/mo 😱 Obviously my home isn’t as nice but my income isn’t either. Just crazy to hear different numbers when I’m so rich in my area but would be so poor somewhere else.
Yeah same here Where I live, a $50K salary is considered ballin lol
I think the airbnb cost is meant to be split amongst guests staying at the house. But I agree that it is pricey :P
We appreciate the transparency
3:30 Dell XPS or no PC really! I have had 2 XPS laptops. Shelby, I like what you do and I hear what you are saying, but I have made the switch to Mac. It is more of a workflow issue. It isn't perfect and you have to get used to exFAT, but it works. The Air Drop from laptop to phone and Copy/Paste back and forth was worth the change alone.
Those B roll shots are slick
This is one of your better video's in the last year IMHO. I hope great success. Hopefully some young punks do not rent it & destroy your place.
Have you considered getting a solar cover for the pool or a solar heater?
Consider getting a pool cover. I think you can get solar ones that will use the sun to heat the pool and also keep the heat in when it's closed. They can be automatic and operated with a switch or key.
Shelby is the best and that's just facts!