Written in real time from 2018 onward. Airbnb financial updates, the HOA saga, tenant disasters, and how I think about money.
A February Airbnb update is long overdue! Time to look at a February Airbnb financial update. I always strive to be completely transparent with all my numbers. This is real financial updates for my Airbnb properties. February will be the last month where my update will only include one property, Ol' Faithful! Ol' Faithful has been a great property as my first Airbnb and so far the numbers have been pretty solid!
Part of my overall compensation is my yearly bonus! I am extremely fortunate to earn a bonus each year for the company I work for. I am grateful of all the opportunities they have provided me and the compensation. I have busted my butt to get here, but grateful nonetheless.
Wanted to share a quick update on my Airbnb's in the busiest time of the year! Disney announced they would be closing at close of business today for the remainder of the month. Universal followed suit. I purchase Airbnb properties in the Orlando area with my main guests being people who are visiting the area for the parks. A great investment, when the parks are open. Disney closing has had an impact on my short term rental business.
New's came out late yesterday stating Disney World is set to close on 3/15 at close of business. What we are seeing in the world today is something that is unprecedented. At least I think so which makes for a timely post of this nature. There will be a significant impact to short term rentals in the coming weeks with no end in sight. This leads me to want to touch on and continue to remind myself.
All in all, the labor and materials for this cost $600. I believe this one picture and addition will help add $5-10 per night alone to my booking! From a return on investment standpoint (ROI), that will help generate another $1,368 in income assuming a 75% occupancy rate in one year. This will end up paying back in less than a half year!
This year, hard work got me an increase in salary by $3,507! A lot of people talk about making more money. From my experience, the best way to increase your salary is by adding value and solving complex problems. That is what I have been able to do with both my W2 job and my real estate investments.
There is only one person who can change your life, YOU! Want to know a hard reality. Read the quote above again. One more time. There is only one person who can change your life, YOU! Your past doesn't predict your future. You are in control of your life and your outcomes.
Last month, my savings rate ended up at 75%! This marks one of the lowest savings rate months I have had in awhile, but I am extremely proud of it! There are months where you should always expect your savings rate to go down. Whether this is from a vacation or some extra fun you decided to have, you should celebrate every month!
I recently travel hacked my way to Diamond status with Caesars. Why do this? You never know when a spontaneous trip to Vegas might come up! The overall process was pretty simple. To travel hack your way to Diamond with Caesars, you will need the following:
If you have a strong why, you can survive any how. Let that sink in for a moment. Do you have a why? Why are you striving to accomplish the goals you have set to accomplish? Why are you spending the time the way you currently do?
Before jumping into some of my thoughts, watch the video below. If you want to skip straight to the experiment, go to 3 minutes and 18 second mark. Enjoy! https://www.youtube.com/watch?v=bz1inIk1L4g…
I continue coming back to the importance of mindset and how your thoughts shape your life circumstances. You have roughly 50,000 thoughts that go through your mind every day. Many of these thoughts go through your subconscious mind. This begs the question, how can it be possible to think that many thoughts in one day. Great question, so let's do some exploring.
