Hosts generate an average of $20K a year in profits.
Craig Curelop, a financial analyst at BiggerPockets, Inc., started hosting guests through Airbnb two years ago when he bought a duplex close to his office in downtown Denver. He began by offering the top unit to guests and then eventually included the bottom unit when he realized how much money he could earn — income that more than paid for his rent at another property.
“Being a host has helped me pay off student loans and helped me purchase the property I now have, as well as a second property,” Curelop said. “I haven’t paid living expenses in two years, which has let me purchase assets that provide a passive income.”
Helping consumers to create wealth through real estate investment is the overarching vision of BiggerPockets, an educational networking site, and hosting short-term guests is part of the company’s “house-hacking” strategy for gaining financial freedom.
Airbnb is a perfect vehicle for that strategy, allowing consumers to grow their income with minimal effort so they can continue in their own professional and personal pursuits while Airbnb manages everything from advertising to tech support.
The streamlined Airbnb hosting process is one reason the company has attracted so many people to its platform: there are more than 650,000 hosts worldwide, with more than 2 million people staying in Airbnb rentals on any given night. Although a host’s income varies depending on the amount they charge per night and the number of nights they have guests, Airbnb estimates that a host listing a two-bedroom apartment can earn an average expected profit of $20,619 in one year.
The streamlined Airbnb hosting process is one reason the company has attracted so many people to its platform: there are more than 650,000 hosts worldwide, with more than 2 million people staying in Airbnb rentals on any given night. Although a host’s income varies depending on the amount they charge per night and the number of nights they have guests, Airbnb estimates that a host listing a two-bedroom apartment can earn an average expected profit of $20,619 in one year.
Courtesy Sara Wheeler, HousingWire Newsletter.
