How to Make money with your home in 2019 ?
vacation rental business to make you wealthy
Are you striving to have a vacation home that somebody else pays for it? Yes, it can be done, and stay tuned because I even got a free business plan to help get you started. If you are looking for ways to buck the system and create multiple streams of income so you can live the life your way, then subscribe to our mailing list. My goal is to help you leave corporate life and create your own freedom-based business, so you can get on with the life that you want to live. Moreover, I am going to explain to you how to create a vacation rental business plan, so you can turn your home or your second home into a stream of income. Also, you know what, I have done it several times, so I know it works. So, the first thing is that you need to explore for yourself, and with your partner if you have one if turning your home into a vacation rental is something that you want to do. Also, it is something that you should put some thought into because, number one, you are opening up your home to strangers; and number two, there is a whole process involved. It does not work free, but it is certainly a great way actually to create another stream of income. There are a couple of diverse actions you can do this. If you want to do this with your existing home and not purchase a second home, or if you do not have a second home, then you can simply rent out one of your spare rooms, or even a couch. Moreover, it is pretty simple to do that. You go into websites like Airbnb, and you create an account, and you enter the information they need. Also, there you have it, your house, or part of your house, is actually for rent. They do a great job screening people. You can also screen people yourself. I see people who have done this, and they feel extremely comfortable doing it. So, that is the very first and easiest way that you can turn part of your current home into a stream of income. Now, the other way to use your existing home is, you can house swap. There are fantastic websites today to help you through this process. They are open to people all over the world. One of them is called HomeExchange. Another one is called Homestay. Moreover, there are several others out there, so go ahead and explore those and see what you think about those various websites. Now, the beautiful thing about doing this is, you keep your home, and then, when you want to travel somewhere, let’s say you want to go to Switzerland or Italy or the beach in Mexico, you simply search their database, and you look for houses that you want to swap with, and they will connect you with the owners of those homes. So, it is a great way to keep your house, swap it out with other people, and see other parts of the world for free. So, how many of you have stayed in Airbnbs or VRBOs and thought to yourself, wow, I could do this with my house and make money? If that is you, type yes in the comments below. so, moving on to if you actually want to purchase a second home as a vacation home, or Maybe you already have one, there are ways that you can monetize that as a vacation home. Moreover, it works great, I have done this, and I have done it many times. We had a house in Costa Rica, we have a cabin, and we put these up on VRBO, which is Vacation Rentals By Owner. It now merges with HomeAway. Also, that is the largest site that handles these types of vacation rentals. Moreover, it is effortless, and it works so well. If you have a vacation home, and you are ready to have somebody else start paying for it, then look on VRBO. As I said, we did a place in Costa Rica. So, it worked out so well, we flew out to Costa Rica, fell in love with it, of course, who does not love Costa Rica, and found a house, and fell in love with it. Moreover, we ran the numbers and decided, based on what the homes were renting for, we could actually purchase the house, rent it out for half the time, and then have our own Costa Rica house that we could fly to any time we wanted, and any time it was not rented. Moreover, it completely paid for the house. That is pretty amazing. Now, there are some important things for you to consider when you are considering purchasing a home as a vacation rental. You do need to do your homework, and you do need to go through the analysis. What you are going to want to look for is, number one, if you have a mortgage, how much is that going to be; number two, are you going to manage it yourself, or are you going to have a property manager? I have done it both ways. Our Costa Rica house, we had to have a property manager because I could not be there on-site. However, we also have a cabin locally near us, it is only 90 minutes from where I live, and I manage that personally by myself. However, you do need to calculate those fees for property management if you are going to need a property manager. Another thing to examine is how often are you going to get to your vacation property to enjoy it. Now, we loved our Costa Rica house, but the truth is, with our schedules and family obligations, we could not go very often, so we ended up selling it and purchasing something else that worked out just as well. Now, you want to spend some time analyzing whether this is a good option for you personally. You do need to sit down and think are you willing to put in the time that it takes to make sure that your place is up to date, fully stocked, always clean. When things break, you do need to make sure that they get fixed. So, now that we have gone through the process of helping you determine whether having a vacation rental is right for you and a couple of different ways to get it done, you do require to take the time to analyze the numbers. That is the number one thing that is going to make the difference between whether your vacation rental is successful or not. So, lucky for you, I created an original business plan. It’ll help you get started. I have a link to it below, so click on that. You will get this delivered directly to your email. Moreover, that will help you put the numbers together, so you can decide if it is right for you. So, if this article has helped you determine if having a vacation rental is right for you and the basics of how to get started, please give it a thumbs up and subscribe to our mailing list for more article and materials like this. Moreover, if you are ready to buck the system and create multiple streams of income, so you can ditch corporate and start a freedom-based business, then go ahead and comment. Sometimes, you have got to buck the system to get the results you want.
How to Make money with your home in 2019 ?