How Much My Airbnb Made In Its First Year
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This video is all about how much my Airbnb made in it's first year. I've done updates on how much my airbnb made in it's first month, how much it cost to renovate this house and get it ready for airbnb, but seeing the final year results really shows us if it worth it or not. I'll be going over all of the revenue, expenses, home appreciation and gained equity and also if I personally think it was worth doing or not!
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As a full time real estate investor, I appreciate the fact that a more well known blogger/influencer etc is finally fully transparent with their numbers, even if it doesn’t paint the rosiest of picture. Props to you for that - lot of other folks out there who only show the “wins.”
Realistically in this business few people become rich. Its not easy as the real estate infomercial pitches have it. You have assets of course but debt comes with it too; in this life none of us take everything away we get and the truth is real estate is a business knowing what you get out it and what you don’t get out of it. Its not something anyone should do wearing rose-coloured glasses and Shelby doesn’t hide the fact it didn’t turn out like she thought it would.
@@NormanF62 I know a few that became millionaires by managing it themselves nearby. In my experience, some landlords act sleazy, (not Shelby), by using unpermited trailers or RVs in the backyards for extra rent, until the city notices.
if the numbers were calculated by a professional CPA or accountant then we would see the real numbers. Shelby is "massaging" the numbers. It's a cool property but not really a good example for someone looking to replicate for an Airbnb business. Previous videos said they had sunk costs of close to 500k (downpayment, payments made before listing, capital costs for repairs/improvements)
Well she can be honest, because she does not have a course to sell like robuilt and the others.
I love how transparent Shelby is. VERY rare with KZheadrs.
not very rare
@@EzioMonitore you are kidding yourself.
She’s transparent about what she wants to be transparent about
@@asma084 troll elsewhere
@@ericryanyawl9401 but I like it here 😭
I would do three things to turn this around. 1. Ditch the property manager, it's wholly unnecessary for a single unit. It can be managed remotely using the platform and its resources plus a smart home system. A solid housekeeper (individual and not a company) can fill most of the responsibilities in terms arrivals/departures (or self checkin), housekeeping and maintenance and pool maintenance. Somewhere in Palm Springs is a local couple who will do all the tasks for a lot less. 2. Never use the property personally during peak high-season months and maximize revenue. 3. For the three slowest months close it and take it out of the short term market, drastically cut expenses.
💡Great point Ian! Would you mind sharing more?
You also gained so much in content and being able to make videos off renovating the house! I became such a fan through watching your vlogs of this series, I’m sure you would have made content about other things, but having the house definitely added income to both of your KZhead channels
Such a great point!
difficult to come to draw any conclusions since we don't know how those other videos would've performed, if she for example focused on Tesla content instead that would probably have been more lucrative.
Hey Sarah 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
I mean it's not terrible really to be paying $13,000 this year for a whole home. At the end of the day a lot of the reason people started AirBNB was some extra side cash to subsidize their living in expensive cities. Really y'all are actually doing quite well, you have a vacation home available to yourself, family, friends, etc. for a really solid price.
Agreed that’s pretty much how I see it now!
Wow there's something about this video that just really stands out from your other videos, maybe it's the editing and the emotion you convey. You seem proud of this airbnb, even if it's been rough with the high expenses. Not many people of the guts to do this ❤
She's made a few hundred thousand in equity off a zestimate (which tends to follow pricing trends pretty well) and Zillow doesn't even account for remodels, just the previous price it sold at 😳
Hey Christina 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
What a realistic view of owning an Airbnb in 2022/2023, thanks Shelby im sending this to some friends who wanted to get an Airbnb this year
Hey Humphrey 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
@@ivantejeda ㅂ😢😊
I absolutely love the editing of this video. Your current excitement to edit definitely translates onto the quality of the video. The comedic editing of the “March and April slayed“ was perfect!
Agreed, best edit of hers I’ve seen in a while!
Hey Ben 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Always love the quality of your videos and how personal you make them feel! So interesting to see the numbers of your first year!!
🔥 I’m with you on this @Hope Ann! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.
I rarely comment but I have to say how amazing this editing is!! Super captivating, and the structure of this video kept me interested the whole time. Way to go Shelby!!
Hey @elizaBlue18 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Fantastic editing, Shelby. Love all the extra clips of you throughout the video. Great for telling the full story!
Hey @Just Call Me Annie 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Words can't express how much I love these videos!!! Proud of you and we appreciate your honesty and transparency.
🔥 I’m with you on this Joy! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.
What I love about your channel is the honesty. You can't knock it out of the park on every swing but you'll never get a home-run if you don't swing the bat. I agree that the long term makes this a winner.
Hey Terry 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Thanks for the video! I love love love how transparent you always are! I think there were a couple other financial perks that you didn’t account for. 1. You save money that you would have otherwise spent on vacation rentals when you stay there. 2. You get to make content about it, which generates revenue. This very video as an example.
Actually she did mention in the video something to the effect of, “I don’t know if it would’ve been as worth it if I didn’t stay there myself as a guest, which I did“. That was her admitting that it was a perk and had added monetary value to consider.
Hey @Rebecca Robbins / Fiber with Friends 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
This was one of your best videos in term of editing . Thank you for your transparency too.
Hey Jasmine 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Really appreciate the transparency!! You also made your airbnb listing so unique and beautiful
Hey A 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
@shelbychurch you freaking rock! Love the transparency! And, your editing slays! Thanks 😊
Thank you!!
Hey Eleni 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
I truly appreciate the honesty and transparency you displayed in your videos! I love that you weren’t afraid to post the actual numbers. This will help future investors understand how the numbers will look! I hope your next years will bring you more profit!!
Hey Kim 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
The production quality of this video is 💯! And thank you for being transparent about $! Great work, Shelby (and Olivia)! 👏🏻👏🏻👏🏻
Hey Chelsea 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Great video⭐️ The editing was more on point than ever 👊🏼
🔥 I’m with you on this Jackie! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.
Love this so much Shelby, I’ve been following along since you first purchased the house. It was probably too much of a grey area to include in this summary but there is also the costs you saved by having your own spot to visit for vacations with friends and family. I’ve always been interested in investing in a STR as a way to break even on a vacation property that I can also use, then own in retirement!
Hey Sam 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
love the work Shelby!!! i think the house will def make more next summer with a lower cost/getting your own booking service - that would be huge!!
Hey makaila 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Yay I’ve been waiting for these numbers! Thank you for sharing, and my thoughts are, for your first year that seems pretty good! You’re really business savvy and I know you’ll figure out how to progress those numbers in the year to come!
Hey Ian 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Love your editing!! The quality of your videos always impresses me. I hope this one does well for you. You definitely deserve it.
Hey Lauren 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
I love the edits and production of this video ❤
🔥 I’m with you on this Janani! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.
Love your videos Shelby. Your insight and transparency is very much appreciated & enjoyed. Would be interesting to hear how all this experience will affect how you approach the Joshua Tree build and the options you are considering going forward. As your lease comes to an end I am eagerly anticipating your next moves. It's always fun to go on adventure with you, your family and friends. Have a happy & prosperous New Year.
Hey @LA Fenn 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Love the honesty! The house is beautiful and just having it as a second home to be used for family and friends is amazing.
Hey @carableu 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Love the transparency in these videos and your amazing attitude in the midst of disappointment
Hey Kayla 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
I definitely appreciate your honesty. I think you learned a lot in this venture and you will came out better than most who might not take the action or can't absorb the loss. Great video!
Hey @Software Journal 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk
Always love and appreciate your transparency, Shelby! Another thing to consider is how much content you were able to make about this airbnb. That's technically additional profit this house has made you :)
Hey Dini 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
love this transparency- thank you! I learned a lot!!
So happy for you Shelby! The feeling you describe is definitely worth it.
Hey @Margaryta Bushkin 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
I’m curious if the “cost” of amount of time you and friends and family stayed at the house might have worked out to more or less than the loss. You could consider it 13k spent on personal vacations.
Lol. Justify it however you want
I thought that too!
Too much of a stretch. I would consider selling and locking in the profit if this is labor intensive. (Certainly the renovation was.)
The Good Life is not just measured by money. YOLO. She and her sister gain an upscale lifestyle vacation home "free" almost half time. Free as it carries itself.
Agree with this logic. Was considering buying an AirBNB as an investment, but didn't want the hassle saying that if I want to entertain friends and family, I'll just AirBNB something for like $10k so we can hang out, but wind up not doing it once. Why it cost me nothing, its an opportunity cost not spending time with friends and family. Had I have an AirBNB it would've been easier to say hey guys lets hang out and chill at my property.
Appreciate how open you are. I would probably also factor in the value you got out of your own use, and maybe that's the going rate but $14k just to manage the property on $80k revenue seems like a lot. Love your vlogs! (PS "principle" should be spelled "principal")
Im not sure if the handyman expenses included the 14k to replace the AC unit, thats not something you would have to do every year so that may cancel out the property manager expenses
I really appreciate your honestly! I rarely comment, but been subscribed for years and your transparency is so, so refreshing. Thank you!
Thank you for watching all this time!!
Hey @One Girl One World 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
The editing is so good! Love this video
🔥 I’m with you on this Hil! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.
Idea: When you have a vacancy coming up after a stay, you could offer current guests the option of extending their stay at a big discount (like 25% to 50%), on a separate non-AirBnB contract paid to you. (Note: extending a stay, doesn't add to the 32 stay limit).
💡Great idea Jim! Would you mind sharing more?
"Name a product that increases in value with age AND use." KS
Loved the editing in this one!
🔥 I’m with you on this Ellie! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.
Wow! This was very revealing! Thanks for posting!
Hey Justin 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Shelby, thanks for such an informative and well edited video ❤. Your talent as a videographer and editor are top-notched! I have two questions - 1. What percentage does Airbnb take up front and is that reflected (subtracted) in the monthly revenue? 2. Do you have second thoughts about Joshua Tree property and what progress has been made on your endeavor? Great video.
👋 Great question Karon. I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any other questions about starting & growing your Airbnb business lmk.
I used to rent out Air BnBs a lot. The prices are now very comparable or even higher than just staying in a hotel. Sometimes, the amenities of an Air BnB will tip the scale for me. The last few that we stayed in had a lot of rules, which really turned me off. I was always worried about upsetting the host, getting a bad rating or breaking a rule. All the additional fees don't help either. I still travel a lot but Air Bnb is typically a last resort for us now.
There are pros/cons to both. Hotels are small, noisy and crowded with kids screaming. If you want more privacy and to live like a local for a week, Airbnb can offer that.
Hey Joe 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Great video. I'm glad you gave a full picture of your endeavor. Props to you, and best of luck in the future
Hey @jonlovesdonuts 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Nice storyline. And thank you for your transparency. ❤
Hey @Francien Regelink 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Love the full transparency. I've always been curious about AirBNB and it sounds like, while maybe in the past it was a great investment, it's way less so now. That being said, your place is super cute and I'm glad it ended up okay this year!
Hey Nicole 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Love the honesty compared to the other airbnb KZheadrs.
🔥 I’m with you on this Mike! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.
Great stuff. Loved your drone shot and this video was great!!!
Hey Kieth 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Love the transparency and honest thoughts!
Hey Tony 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
I appreciate your honesty with AirBnB and thoughts on the coming year (yes, real estate is a secure long-term investment, but it will likely be a challenge shortly). Being a leader doesn't mean you have to win (profit); you have to inspire with experience, so keep moving forward!
Hey Desi 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Keep it Shelby it will work out over time! Maybe look into mid term rental for those 3-4 summer months like traveling nurses an corporate housing. We did very well our first year of doing our first short term rental in Rhode Island last year. We learn a lot from people like you and Rob (Robuilt) and The Robinson’s that really helps educate on real world aspects of running a short term property. And of course I recommend solar for your house which is almost free in CA with all the incentive there. You cut your electric expenses and if you switch your pool heating from gas to solar electric you will bring that gas esxpense down dramatically. I will be doing a Tesla Powerwall and solar panels on our RI property in prob 2024. We need that backup power capability in winter months to keep heat and cameras going for remote monitoring.
solar panels are not free not even close. even with tax credits, it's out of pocket 10 -20k depending on roof size. Utility companies have lowered the kwh price they will pay you as well. its a 6 to 10 break even. source :solar panel owner in CA
Hey @GreenTechFusion. Solar 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
The edit on this video is SICK 🔥 You killlled it and I know you put a lot of effort into this!
🔥 I’m with you on this Madeline! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.
I love the transparency Shelby! Your Airbnb is beautiful and it's very clear you put a lot of work and time into it for it to really shine. I'm sure many have experienced what you've experienced in seeing lower numbers in revenue since we're in a bit of a recession and the cost of everything has gone up but I think property is always a great investment so congrats on doing this and making it through your first year 😊
Hey Camellia 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Maybe it wasn't cash profit, but I genuinely think considering the times we are in, you did well! I also think it is great that you and your family and friends use the property as well :)
Hey @Phoebe 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Investing in Crypto now should be in every wise individual list now,in some months times you''ll be ecstatic with the decision you made today 💯
Investing in crypto is very volatile and risky which is why most successful investors trade with professional brokers.
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Tell her I referred you
I also needed her info too I’ll write her thanks.
I truly appreciate your honesty Shelby
Hey Iris 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
This level of transparency is AWESOME Shelby!
Hey @CharliMarieTV 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
MBA student note - Cashflow is the only metric that matters in business! Good businesses produce Cashflow! Bad ones don’t!!!!!
Hey Anon 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Being a property manager doesn't seem that hard, and 14% is a lot! Seems like a pretty good job haha
Hey jj 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Really appreciate the transparency! Very informative.
Hey @Virginie Gagnon-Dubreuil 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Thank you for sharing this journey Shelby!!! Loved watching your experience with airbnb, you've helped me learn so much!! Thank you!
Hey @Car Bros R Us 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Shelby, before Palm Springs, did you look at other places that could have offered a higher return and not subject as much to the vicissitude of seasonal bookings? Something to consider since you don’t want to just break even or suffer a loss on the investment. Of course, you really love the place, the financial side doesn’t matter as much as what draws you there. For some people, making lots of money isn’t the most important thing to them in life, there’s also the matter of whether you see yourself using it and maybe living there long term at some point. Good review of what running your AirBnb has been like for the past two years.
Hey Norman 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Solar power would be an option of decreasing your energy costs drastically
Hey Gabi 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
This was such a cool video to see. Thanks for sharing your experience and costs on your first year owning this property and doing airbnb!
Hey Aida 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Thanks for sharing! I have enjoyed your series of videos on this house / Airbnb journey.
Hey Caleb 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Robert Kyosaki would say it’s a bad investment. The House appreciation only matters if you sell it that varies yearly and it’s trending down fast. It’s crazy how the saturation of the housing market might included an Airbnb bubble I can imagine all these pandemic Airbnb’s flood the market and drive the cost of rent and housing prices down further.. Everyone including their mother has an Airbnb.. and the vacation is over and people are in debt..
💡Great point Kyle! Would you mind sharing more?
I love that she's sponsoring a Dell even though she does all of her work on a Mac
Years ago I watched one of your videos, and that had a huge effect on me, now I’m a business owner! Thank you
Hey @lllllllllllll 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
This video was so good Shelby!!! I’m glad I watched, you and Olivia did a great job. We also love a Sam cameo ☺️
Hey Hannah 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Another great video! Being honest and transparent about experiences is always super appreciated. Obviously, you have a management and cleaning company - do you think the AirBnb experience got a little tainted because of owners who don't bother with those things? Thank you again for the wonderful breakdown!
🔥 I’m with you on this @BeeDee! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.
Great video! What stands out to me is the electric/gas at almost $18k/yr. I'd think about adding solar in 2023 and you can use some tax benefits to offset the installation cost. Also - they make solar swimming pool heaters.
What also stands out is she can only rent it half the year essentially unless she get long term bookings. I would never buy in a market with those limitations
She mentioned adding solar in a prior video, and it's a solid idea, especially if she submits an interconnection agreement before April 13th when the export credits are reduced in value (particularly important for a semi-occupied rental property). Instead of getting a solar thermal pool heater, it might be better now to get a bigger solar PV array and then get a heat-pump pool heater. Getting a good pool cover would probably also be helpful in saving energy.
Hey @GS 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Great video Shelby... thanks for the honesty and transparency! Of course the location has a big impact on occupancy and pricing but I'd argue that the size of your Airbnb also has a big impact. I have a preference to smaller (vs. larger) properties for a host of reasons. Happy to share more if people are interested in hearing more about what I've learned.
🔥 I’m with you on this Ben! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.
@@ivantejeda thx! Just subscribed to your channel.
Absolutely love all of your videos! I think this one in particular is so important because it shows the truth of what it costs to run an airbnb. My husband and I started airbnb back in 2020 and did it for 2 years. I'm glad we got it out of our system and got the experience, however, when we ran the numbers it made more sense to just convert it to a long term rental and to eat the extra $250-$500 profit we would've had through airbnb just to get our sanity back since we managed it ourselves. 😅Anyways, props to you for being transparent. The editing on this video was also top tier as always. 🙌🙌
🔥 I’m with you on this @Florida Flipsters! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.
I wonder how much you made from KZhead videos about the palm springs house! Definitely count that!
Hey Natalie 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Love that you go over ALL the numbers Shelby! It's not easy being a landlord...and people think "Well, your mortgage is $3500, and you make $5500/mo, so it's in the black, right? Wrong." Bummer that you were negative on the cash flow...but it is a business and those items can even out over time. You won't be replacing the AC each year. Without that, you made money. The education you got (and shared with us) is PRICELESS! Now you've got some idea how things go...and can apply that to your other projects as well as this one. This IS a money maker in the long run for Palm Springs. Maybe some price tweaks in the summer....renting at $300/night is better than $0 during down periods, but you already know that. Keep on doing what you do!
Thank you!!
Hey @itsnotme07 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Honestly appreciate your honesty in presenting the financials unlike many KZheadrs 🙌🙏👍
the way that my mouth DROPPED at how much those expenses were. That's absolutely insane!!
Such a great video!!!!
🔥 I’m with you on this @Rory and Sage! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.
I feel like once your Airbnb gets more reviews it will also take off more!! I usually book airbnbs by reviews so I imagine that will help
Hey @BlameKara 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Great video Shelb. Apreciate the transparency and love that you're exploring the space of speaking truth to the hype machine that is the youtuber STR space. Minor gripe, heating fees are indeed revenue. It's all revenue. If you're not charging enough for the cost of the service you're providing, that's a pricing problem.
Hey Jose 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Thank you for sharing, really informative video, good luck on your projects!
🔥 I’m with you on this Bianca! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.
I'm very interested in knowing what a difference not having the pool/maintenance costs would make, along with the change in rentals for not having it and rental price per night
Hey John 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Great video. you've reminded me of what someone once said ❤ Your assets are your employees. Invest more on those performing well. Let the non-performers go
People prefer to spend money on liabilities,Rather than investing in assets and be very profitable.
You're so correct! Save, invest and spend for necessities and a few luxuries relatives to on's total assets ratio.
This must be an investment with Mrs Lauren James
@@smarthappiness5304 I'm just shocked you mentioned Expert Lauren James thought am the only one trading with her
@@jacobjackson9835 Haha you don't have to be surprised Mrs Lauren is really good and everyone loves genuine services,she helped me recover what I lost trying to trade on my own.
Shelby, thanks for your honesty on Airbnb!
Hey Emmanuel 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Wow, it sounds like that those vacation rental rules are really tough! As always, thanks for sharing! I enjoy seeing all the hard work you have put into the house!
Hey Nathan 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Hi Shelby! Can you cover how much you have to pay in taxes from the annual revenue as well? I’m assuming that cuts into your overall profits too.
Since we didn’t make any money, probably nothing? Guests pay taxes on each stay, my property manager takes care of it, so I didn’t even factor into this because that money never hits my account
How would you not have to pay tax on rental income? Seems to me that is a different category from property tax paid by homeowner and accommodation tax paid by renter. Maybe if you didn’t make money there would be a deduction. Also just curious how you factor in your pre-rental renovation costs.
Ah yes I was referring to the government taxes you’d have to pay on rental income at the end of the year for your property. I believe it is 10-30% depending on annual income bracket
Hey Caroline 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
I like the idea you mentioned in an earlier video of you just using your own website instead if Airbnb. That way your guests do not have to pay airbnb fees 🎉 and might come back the next year
If you use a property management company that specializes in short term and AirBnb, then they should have their own booking site and tie into all other platforms. If they don’t, your overpaying them at 18% a month.
Hey Sarah 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Thanks for sharing the video. Me and my family having been looking into getting our first air b and b. Love your channel
Hey Pallie 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Kudos to you for your transparency. I think it's what makes your videos so interesting.
Hey Daniel 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
Do you think you will sell it soon? Home prices are starting to go down.
🔥 I’m with you on this David! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.
That's quite interesting, but I also wonder how it would look like if you factored in the earnings from all the KZhead content that you made about the house through the year?
I was thinking the same!
yeah I was thinking that too, because it has a dual purpose as yes being a vacation rental but also generates more content, although I guess within that, its not like her channel is SOLELY made surrounding the topic of this rental/process so its kind of like well if she wasnt making content about THIS she still would be making content about something and something that is a lot less expensive potentially, so its really about not just it bein content but how much of an INFLUX of views/sponsorships/oppertunities does this house specifically bring in over other content.
I think the idea behind this is to show how an actual Air bnb performs for those who may be curious or considering doing it themselves.
@@desimo147 fair enough. i have an Airbnb myself in a way less touristy area and can relate to a lot of what she talks about.
Just commented the same thing!
Very thorough financial analysis. Good job!
One of the most unique and interesting channels on KZhead! Keep up the videos!
Hey Darrion 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
So essentially it is a good asset investment for the long term even if the cash flow isn't great at the moment, which would likely get better over time. Thanks for the informative video.
What makes you think this is a good investment long term? It's likely to get worse.
@@JamesG1126 Because you are constantly making progress towards paying off the mortgage, and the asset value of the home is already in a profit. Eventually it will be paid off and you get to keep more of the profits. We are also going through an economic downturn which will eventually end and things will recover.
@@Demiray95m the home is cash flow negative. It requires continual cash infusions. We’re in the early stages of a deep recession and bubble burst. Things will get much worse.
@@JamesG1126 I agree but the margin for the cash flow negative isn't that bad.. and you don't expect your AirBnB to perform at peak level from the first initial year.. there are things you can do to increase revenue and I think Shelby has been proactive with that. As for the recession, yes it will likely get worse, but I doubt it will last a long time. When I mean long term I mean 10+ years, not 1-2 years.
@@Demiray95m how did the work in Columbia? Be this is our way. Luxury today it is wood stove and own dwell, not pool and controlled by "somebody" smart devices.
Any reason you didn’t put solar panels on the roof, excess power could be used to assist heating the pool which would use less gas
I’m planning to get them this month! The only reason I didn’t yet is I was busy during the summer and I wanted to be there during it, so that I can get footage of it all!
@@ShelbyChurch sounds like a great plan!
Hey Ryan 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
loved, this very informative as always and gives a good look at the benefits and downfalls depending on your desires
Hey @Tikerrah Young 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
@@ivantejeda yes, I mean I would like a video on house hacking when its a single family home, what to look for etc... with VA loans
Thank you for sharing this. It's nice to see honesty how much things really cost and different things you have to do to have it as a business. It is a beautiful property.
🔥 I’m with you on this Adrienne! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.
I would think it was worth it too if I was in your shoes. It wasn’t as lucrative as you had hoped, but yes much was learned and who knows, this year could bring in better numbers.
THats the thing I retired at 28 using house hacking and investing and wanted to convert to Air BNB and I'm glad I waited. I just want something a little less chaotic even though it has higher earning potential
Hey Michael 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk.
I think what you're doing is great! Thank you for your transparency with the numbers!
🔥 I’m with you on this Trinity! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.
Very interesting and eye opening. Thanks for sharing. Love your content, keep up the good work.
Hey Paul 👋 I’m thinking about making a video on this. Let me know if that’d be helpful. P.S. If you have any questions about starting & growing your Airbnb business lmk