My Airbnb Lost Money... Here's The Truth About Being an Airbnb Host

[@ShelbyChurch]

Go to bit.ly/3O9NsCN and use code SHELBYCHURCH to get 15% off ClickUp's massive Unlimited Plan for a year! Start reclaiming your time for less than $5 a month. Hurry offer ends soon.

[@thomass5169]

That new HVAC system should lower your power bill to the point that you will kick yourself for not installing a new system at the start. In fact, you likely lost return business because your customers were not as comfortable as they should have been. Would love to know what percentage of power savings you experienced after one year. Just make sure the system is well maintained by a competent company so future problems are caught in advance when possible. Keep it clean and you will be happy with the performance. Congratulations on the venture; no better way to learn than jumping right in.

[@JT0007]

You said that your home gained value and therefore taxes were higher than expected. That’s literally not how California works. Property tax is always 1% of purchase price, meaning tax is fixed. Why are you making things up on your video? You sound like you have no clue what you’re talking about 🇺🇸

[@alunmorgans]

Passive income = being a leech

[@JT0007]

@@alunmorgans Nope. I make my tenants homes better than they were and work with them however they need, within reason. 🇺🇸

[@thomass5169]

@@alunmorgans Have you lost your mind? How did you come to that conclusion?

[@Snail_Nailz]

Some thing I’m suprised not to see on the expenses sheet; •Internet •Cable or Streaming Serviced •Landlord Insurance •STR Business License and/or TOT •Cleaning staff •Paper Supplies •Replacements (stained towels, worn textiles, etc)

[@NursesToRiches]

As someone who is looking into purchasing a short term rental and can only find videos of owners talking about how much money they're earning, and not about the challenges they've faced in only breaking even or making a profit, thank you for your transparency!

[@ShelbyChurch]

sure thing! I still think it can be worth it, but it would be VERY tough to make the numbers work with how interest rates are right now, and the possibility that many people could be cutting back on travel for the next couple years... it can still be a great business in the long term but I think it is important to have a savings in case there's a low season

[@guysumpthin2974]

@@ShelbyChurch ❤️❤️❤️❤️❤️❤️❤️

[@sandyrose2398]

Shelby has managers taking care of the bookings - and other people are handling the clean-ups, repairs, etc. You also need to pay them. This house is in a good location - since many of her future travellers will be from California. As she stated, they might not be travelling across the country due to very high plane fares. People still like to "get away" from their every-day lives. It is now risky to purchase a property and expect to make money - with the high property taxes/maintenance, the price of the home - and the times that the home will be vacant.

[@lydiapatelll]

100% agree! Such useful perspective. We also started hosting not long ago and feel the market has slowly shifted.

[@fortyozsteak]

Airbnb makes a ton of money. You need to know what you’re doing

[@KylaJames]

I feel like airbnb used to be such an affordable and trendy way to stay places, but the reputation is definitely getting worse with everyone trying to make it their main source of income. Airbnb’s in general are getting so wildly overpriced, they expect the customer to basically clean the place and also pay a cleaning fee on top of giving the customer a chore list to do lol. Not saying Shelby does that, but I see it a lot! Where are hotels, which used to be the overpriced “worse” option, people are leaning towards again because they clean, there is housekeeping daily, breakfast often included, no additional cleaning fee, no expectation to do chores before you check out, room service etc. just something I’ve seen a lot of people talk about on TikTok and stuff

[@chilicheesecakefilms]

The cleaning fee is wild in some places. I've seen the place be super cheap like $50/night but then the cleaning fee is like $120/day and I'm like..... wait a minute, cowboy

[@tamwilfred]

The pademic might have something to do with it especially if people want a super clean and sanitized place. Labor costs have gone up, cleaning supplies prices have gone up, and maybe with the drop in bookings owners need to recoup some of the cost by increasing prices if they want to stay in business. Hotels have the advantage of economy of scale, a full time staff, and cheaper overhead cost. It cheaper to house 100 guests compared to homes that house a handful of guest every few days. Pricing on everything is all screwed up. I think once things normalize, hosts will realize they can't charge that much or that hosting Airbnb isn't that easy as they thought it was. Look at big companys like Zillow who exited buying homes and reselling them. They lost a lot of money when they realized they can't sell houses for prices that the market wasn't willing to pay.

[@Callmebigwilly]

My buddies stayed at one in Vegas with a pool. If they wanted to use the hot tub the owner said there was a $50 charge per day.

[@beverlyweber4122]

@@Callmebigwilly That's insane! Gee, I wonder why the greedy owner isn't making as much money?? "Honey, why won't anybody use our hot tub?" "Did you forget to fill it with sparking water from France and include the caviar?"

[@SensoryTime]

I think air Bnb's (can be) "worth" more though because at the end of the day you're getting a different experience. With a hotel you get a single room and a bed and bathroom. There isn't alot of room to "roam around" or relax in other areas. With an air bib you get an entire space with a kitchen and the ability to cook food and the privacy that comes along with it.

[@samanthabarron8481]

You keep the AC on to prevent mold and damage from condensation, systems actually break down when they are not being used, you will ultimately spend more starting it up again to heat a house that went up to the high 90s and now has moisture because the weather is humid.

[@ivantejeda]

💡Thanks for sharing Samantha! Maybe I should make a video on this 🤔

[@sirheisenberg4459]

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

[@belobelonce35]

If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.

[@PremSteve-yg4de]

I wholeheartedly concur; I'm 60 years old, just retired, and have about $1,250,000 in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little amount of money in retirement accounts. To be completely honest, the information provided by invt-advisors can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.

[@dengdelun3109]

How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings?

[@PremSteve-yg4de]

“Rebecca Nassar Dunne” is who i work with and she is a hot topic even among financial elitist in California. Just browse, you’d find her, thank me later.

[@SavannahMitchell-b3d]

Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.

[@johnnywang206]

My dad turned off the AC for his house in Phoenix when he left for three months. Came back and found the house just cracking everwhere. Leather couch was trashed. Can’t just let the house bake

[@jbdragon3295]

No, but can set it high, like 90. So things don’t bake.

[@abbyhigh4326]

Airbnb's are absolutely wrecking the rental market. It's also way cheaper now to just get a hotel room again. I hope Airbnb changes its predatory ways soon. It's pretty hard to feel sorry for people losing money on Airbnb's when In some cities (like the one I live in) it's literally causing people to become homeless.

[@chilicheesecakefilms]

Everywhere I travel to - even small places that have one or two hotels, airbnb prices are INSANE. I've found hotels with breakfast and a pool at a cheaper rate than airbnb backyard room at someone's beat up house. It's insane

[@xcf1614]

This 100%!!!

[@shannonparahi5600]

I feel like if it’s just a couple staying somewhere 100% staying in a hotel is cheaper but I also feel you don’t have the luxury of what a home has eg. Proper kitchen, extra living areas, etc. I think Airbnb is a great option and worth the price for families or a group of people due to the extra space, privacy and multiple bedrooms

[@NSiFe]

Companies are buying houses lile crazy too... to rent it back to us. We will own nothing and be happy

[@NessInTexas-x2e]

AirBNB takes zero risk. You're stupid to be a part of it.

[@jasonsmithers2448]

Here is some advice. I’m the slow months you should price your home agressive enough to compete with hotels and other Airbnb’s to the point you get the revenue closer to peak season. Although you may be worried about utilities, you are getting potential repeat customers if they enjoyed staying at your place. Furthermore, you can offer discounts for longer stays in your advertising. Just tell them to contact host. Make sure you ask those who stay with you for a positive review and give them 10% off next visit if they do. Furthermore, offer them 20% discount if they refer people and limit that 20% off to slow season. You have to step up your operational acumen as this house could make you far more dollars!

[@X99Zero]

She or her management are doing a poor job at revenue management to react to monthly price and competitor movement and it’s costing them a lot of money. Mismanaged property.

[@kandiali]

I was about to say the same thing. Price should have definitely been adjusted after 2 months of loss.

[@IMMERSIVEVOICE]

This is poor financial management.

[@bertrankin]

This

[@saalank]

Her costs were simply too high to lower prices all that much. They got excited at the prospect of huge profit margins but hired out all the work. A property manager for their only single occupant/group property? Pest management for a single property? You can get those things when you scale up and get a bulk discount per property. There's no such thing as free money and easy money doesn't last long and quickly gets divided up as people start to crowd around fresh prospects. I turn a good profit on my airbnb because I do 100% of the work (managing the listing, cleaning, repairs, updates, etc) also I don't have any mortgages at the moment. It's definitely not passive but it fits me where I am now. Definitely plan on scaling up and doing long term rentals once I get enough properties. If she wants a passive income, long term is the only LONG term way (rental wise) or scaling up big time (which even that isn't working out as cities start to clamp down on short term rentals). Simply put, she didn't do enough market research and didnt fully run the numbers. For example, the electric bill history of a property is frequently available for the past year even if you weren't the owner back then.

[@megmathisen9072]

I’m a successful AirBnB host and a Southern Californian. I went to Palm Springs one summer and it was 115 degrees. I was I intrigued as it felt like my skin was burning off my bones but damn… not exactly a place I would return for summer fun. My ABBs are in Santa Barbara and Rock almost all year but I don’t do automated. I’m hands on and available for every need of my guest. I wouldn’t say it’s passive income but I love it! 😊😊

[@ivanvarykino8202]

Wow, I stayed at a property so similar to this poster that I had to look very closely. Although the owners where I rented were 2 guys - in the "raquetball club" neighborhood? Your comment also was my exact experience. But I took my 2 daughters in sept 2021 after losing my wife, their mom. We had nice pool and a rental car to explore around the area. It was 115 for 2 or 3 days and yes, it felt like our clothes would actually ignite right on our bodies 😄 Needless to say, we decided against exploring the local national park / desert 😉

[@andydrew3320]

Hate to say it but the truth is many folks simply don’t have the money right now to be splurging on things like this. If someone absolutely needs to stay somewhere they’ll opt for a small place at a fraction of the cost or crash at friends or families. It’s just the reality right now. Anyway great video as always Shelby. Seriously, it takes courage to talk about our failures and losses in life. We live in a world filled with highlight reels, filters and W’s. People forget to talk about where those wins came from and how much pain and loss were associated. These losses are incredibly important and it’s times like these that we learn and grow the most. Not to mention you get to share this wisdom with thousands of people to also learn. It’s great all around. Keep up the incredible work.

[@amandab8433]

This is true. My husband and I are heading for a week in Monterey, and first looked at Airbnb thinking it'd be cheaper than hotels. It isn't. We were able to get a "Boutique" hotel (downtown) stay for $71 a night, as opposed to $150 for the cheapest Airbnb in the same area. Even including eating out it was by far cheaper just to stay at the hotel a two min walk from the area we were there for. We had thought of buying property here in the SF Bay Area for Airbnb rental, but the market here is already swamped with them.

[@SensoryTime]

I think air bib is moreso a luxury where people will go for vacations not because they need to just stay somewhere IMO

[@andydrew3320]

@Liz bth what it’s supposed to be and what it has truly become are two totally different things

[@rlkinnard]

She won't be renting it when the temperature is 100+; surprise! She will do in the winter.

[@tay_lee25]

Tip for improving bookings (if this applies)… I have to say that as someone who has stayed in a lot of airbnbs, the ones that stand out and return to multiple times are the homes that are extremely well stocked and have a personal touch plus communication. AKA not run by a property management company and sterile. Upkeep of furniture, competitive pricing (not under priced, just “fair”) and exceptional cleaning is my other must. If the home feels homey, unique, and the owner or sometimes manager makes it feel like you are staying in their home that they love and care for. If it lacks of personal touches in communication and no extras provided, I often don’t stay at those places more than once. Hope that’s helpful.

[@TravisBryantNYC]

Thanks for sharing!! Mine in West Hollywood has just barely broke even this year as well so I was wondering if that was normal. It’s fun but certainly hasn’t been the cash grab I initially thought it would be! The transparency is much appreciated!

[@veronica.baker1]

Great video! For 2023, it’s hard to nail down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.

[@hunter-bourke21]

There is no greater freedom than handing back the key to a airbnb apartment knowing someone else has to maintain it. If you enjoy renovating and decorating then perhaps home ownership is for you. For me, property is another way we get tied down

[@Believer292]

@@hunter-bourke21 I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!

[@edward.abraham]

@@Believer292 You are right! I’ve diversified my 450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.

[@james.atkins88]

@@edward.abraham Glad to have stumbled on this conversation. Please can you leave the info of your investment advisor here? I’m in dire need for one.

[@edward.abraham]

@@james.atkins88"Julia Ann Finnicum, is my adviser and she is highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@MarilynnTaylor]

OMG, don't turn your thermostat off completely. The house will get to triple digits and will ruin some of your furniture. I learned this the hard way. Use a smart thermostat that is connected to motion detectors that raise the temperature to 95 and make sure all of your window treatments are completely closed when it's vacant to keep the temps as low as possible.

[@ivantejeda]

💡Thanks for sharing Marilynn! Maybe I should make a video on this 🤔

[@GavinSeim]

Good info. Insane taxes, insane regulations, insane land costs. No one wants to go to California because the idea of paying $500/night for an Air BNB is insane. In other destinations, we can get 3+ nights for the same price.

[@rebeccas6674]

As someone who used to be in the hospitality industry it's quite common to overcharge during peak to make up for the profit loss you'll experience in the off months. Some hotels will even shut down completely or almost completely during peak off-season. If your revenue for August continues to not even pay for the basic cost of operation then maybe it could be an option to shut it down for a month especially if you pay your property manager, pool cleaners, etc. by booking rather than a monthly fee.

[@sterlingmarshel6299]

property managers are on year contracts and the pool has to be maintained monthly - those costs would not be cut.

[@jasonsmithers2448]

Terrible advice.

[@factsdontlie4342]

Never close. Lower prices in slow season. Some income is better than none. Make sure you are financially prudent and have savings from the peak season to help during slow season. It just seems like a stupid idea to start a business in California, there is a reason business is fleeing that state.

[@kingbass21]

A useful strategy for the low season could be to contact local businesses to see if they have any staff/contractors that need accommodation. You could get some longer term lets booked, 1/2/3 month durations at a heavily discounted rate, but enough to cover costs.

[@MsVicky72]

Best advice so far!!!❤

[@NatashaEstrada]

@@fajrdn I think he was probably thinking along the lines of nursing/engineering contractors and not construction.

[@ShellysMillions]

I had to travel for work to San Diego and short term rentals saved my company when I needed to stay somewhere during Comic Con!

[@Manecazz]

I was about to state this exactly, I work at an Apartment service for about 8 years and you have to compete with the market around the area the property is.

[@DerDudelino]

Personally I'd just use her fanbase - offer to hangout, if they book her AirbnB. She is pretty massive on social media - properly advertised, the place should be full at all times - with fans or KZbinrs who want to shoot something with her. Win-Win :D

[@gwenstone9685]

I stopped using air bnb because most are companies taking over rental property making it impossible for local people to find affordable housing. I hope they all go into bankruptcy

[@emilyromano4794]

Hi Shelby! As someone with a hospitality business degree, I really think you/your property manager need to consider the rate fluctuating more. You can definitely raise it in the peak season and should lower it and increase your bookings (at least by a little) during the off season. As someone who travels, I have been wanting to go to Palm Springs and actually looked at going in September. If it was that hot and $500 a night, there’s no way I would go. For a cheaper price it makes more sense.

[@emilyromano4794]

Hopefully your property manager in evaluating the market for rates and increasing during events or high travel to the area. They should also be lowering to match other rates during the off season. It’s better to be getting SOME money than none at all and in hospitality as soon as someone doesn’t book that night, you can never make that money back. Just some tips!

[@chesheekbs]

Agreed!! Even by 50-100 that would put her in a whole new search bracket.

[@FransceneJK98]

So not fair but business wise it does make sense. 😢

[@Neezabja]

Don't forget Pal Springs only permits a fixed number or rental contracts per year, lowering the prices considerably off season could not only be unprofitable because of higher summer utility bills but also reduces the quota for more profitable times of year.

[@double_joseph327]

Probably using a bad property manager who is expensive lol

[@markj10]

After 10+ years of owning many Airbnb’s with 80%-95% Occupancy, I’m experiencing record lows (40%-60% occupancy) too, maybe this is the new normal. Don’t lower prices, it will de-value your Airbnb, guest will think something is wrong with it! The solution is lower (or remove) your cleaning and booking fees, guest hate those and so by doing this guest think it’s a great deal by getting a super nice pricey home with no extra fees! It’s working with mine, even in Palm Springs!!

[@am22fcw]

This has probably been said a thousand times before but something that gets glossed over is at the end of the day the people that rent your house are still helping you pay the mortgage. So you aren’t technically sitting on as much of a loss as you think when you are gaining equity in the home.

[@networth00]

You could say the same about a long term renter. Why not buy a house with a $2000/month note and rent it for $1800? Why not... because you'd be an idiot.

[@simoncoco1]

Unless your property price is underwater, for example, you are paying a mortgage for a $1m house that can now only be sold for $400k.

[@ebo5739]

Thats not really true. Take depreciation into account. Within 30 years you paid again for that house with your reinvests you must do. If you dont make it with your cash flow than its a bad invest. Also consider the total amount of invested capital.

[@thatslumlordlife]

I have a few rentals and after you pay loan, taxes, insurance, rental fees, basic upkeep, lawncare, turnover costs ( loss rent, painting, flooring, damages) you don't make anything. Many turn into money pits. This is why more are wanting to do airbnb. If its not a large rental property many times it's not cashflowing well unless you rent it way high. Small properties such as a house or duplex have way to much maintance and repairs to keep up on.

[@bobross1829]

Being out of pocket now and paying cash now for a maybe future equity when who knows what the values will be in 20 years is a bad bet.

[@ggcab5]

I think a part of the reason bookings might be down is because people have realized how much better value hotels are vs Airbnb. For the same price (or cheaper) you get a way better experience at hotels.

[@WooweeYT]

ABB used to be a good deal. It feels like prices have skyrocketed lately. I suspect it's because early on it was just people trying to recoup costs for vacation homes and such, now it's an entire industry. There's a lot more competition and everyone is trying to not only turn a profit but also pay off the property from the rentals. Like even Shelby here thinks the property is kinda failing. If she lost $3300 every year, in 30 years when she pays off the mortgage she'll have paid $100k for what's likely a $1mil property. Which is ridiculously good.

[@icantwiththis]

I used air BNB 2 times and then I saw a thing on the news a creepy guy was putting a camera in the toilet and never again. I just realized it's actually dangerous no way. At hotels there's lots of people and security and background checks I'm not just going to some strangers house.

[@sterlingmarshel6299]

@@WooweeYT over 30 years she would have paid well over 300k mortgage interest, 360k in property taxes (low end), plus maintenance, pluse the money the capital costs of putting money into the property, down payment, making up for losses, home insurance, etc. There will be some tax write-off along the way but when you sell you will pay gains and tax recapture taxes.. its a lot. Think of real estate as a piggy bank and not an investment - they will be lucky to breakeven if they are honest about the costs

[@WooweeYT]

@@sterlingmarshel6299 Ya but she was already calculating all that and she only spent $2500 for the year out of her pocket. And that was with a $15k repair (that wasn't out of her pocket). She's not paying the mortgage and property taxes, the renters are. If she only gets a few more rentals next year (and/or doesn't have a huge repair), not only will the renters have paid the mortgage, taxes, maintenance, etc, but she'd actually be making a profit on top of that.

[@NatashaEstrada]

Yeah especially in Palm Springs with all their resorts and local casinos that also have hotels etc. Coachella/Stagecoach would really be the only time of year where renting an AirBnB makes sense.

[@Rebecca.Robbins]

I like your attitude. You are totally right that over 5 years it will all be fine! The fact that you got to vacation there and were continuing to build equity, not just through your mortgage payments, but just because houses tend to appreciate, especially if you are maintaining them (like you are), makes it totally worth while.

[@lossangeles]

Real estate is going down not up. It’s going to take a decade to turn around. Think: housing bubble 2.0 ☹️.

[@mybrassmonkey]

@@lossangeles if you could accurately predict the future you’d be making millions lecturing around the world, not writing KZbin comments.

[@Rebecca.Robbins]

@@lossangeles okay, but Shelby didn’t buy at the height of the market and she isn’t planning on selling anytime soon. So, I stand by my statement.

[@Rebecca.Robbins]

@@mybrassmonkey I wasn’t trying to predict the future, just stating that “typically” houses tend to appreciate. Historical data does back this up. Shelby didn’t buy at the peek of the market and she isn’t in any hurry to sell, so it’s reasonable to expect that her house is appreciating in value.

[@SmashBrosBrawl]

Housing prices are going to drop by 50%, returning to pre-covid levels at a minimum. It's going to take about 20 years for RE prices to return to covid-level highs

[@catherinemack6355]

Thank you for being so honest. You usually hear about hosts making thousands and even millions and never hear about the negatives. You really don't know who to believe. In business, there are usually ups and downs and we need to hear more about both so we can know what to expect so that we can better prepare. So once again, thank you.

[@9thwonderjr]

When she says she brought a house to renovate FOR Airbnb...I knew there wasn't a long term cash flow plan for all four seasons

[@DoYouLikeToastToo]

Yea it seemed like a bad idea from the beginning. I also feel like by only having a whole house for rent you are missing out on a lot of the market. I think there are a lot of single travelers that need a lot less space.

[@samanthabarron8481]

Yes, this is why people lost money. You can’t just do something like this on a wing and a prayer, you have to have a plan and if it doesn’t add up, you don’t do it. No emotions, all business.

[@patrickstarrfish4526]

Shelby seems really personable, but clearly a bit of an airhead and not a businessperson. Absolutely insane video with multiple internal contradictions. in the 3:30-4:30 window, she complains she only rented out 2 bookings in June, the "nightly rate wasn't that high, it was $4 or 500 dollars" it wasn't that bad, it was kind of what I was expecting " are you kidding? one booking in July, renting $500 for night, for only $1500 . then at 3:50 she says we could lower our nightly rate but it would get eaten up by the AC? again, are you kidding?!? at 6:00 she says her "building manager" had left the AC on all month June and July and the electricity was $850 per month. Then in August and September it was turned off when the home wasn't being rented out. (duh), which resulted in a $300 drop in electric. So one additional night rented out at $300 would have covered the entire month's entire marginal additional electric. Not what Shelby made it out to be (it would be $2,500 if we had the place rented out every day!) The "property manager' is incompetent, and something Shelby should have done on her own. if you have to hire "pest control" instead of getting some ant traps from Home Depot, you really shouldnt' be in the business of If you are NOT a DIYer, and can't fix anything or maintain anything yourself, running an airBNB with a POOL and pricing yourself out of the market is insane, and will guarantee to lose money. what rate are you paying on your mortgage? when is your mortgage due for renewal? Good luck getting the same rate. Anyone who has no business sense and buys a home with a pool, trying to rent it out for $400-500 per night to large groups of people is an idiot, sorry. Was any consideration given to breaking the house into two sections, or renting out individual rooms rather than renting out the entire house all as one unit? I mean, what is the market for renting an entire $400-500 house with a pool? Surely there are 3-4 bedrooms in the home, and 2-3 bathrooms, and each bedroom could have been rented for $125-200 depending if they had their own bathroom or not. This is atrocious property management, and the property manager is incompetent (or just plain lazy). Pretty, but pretty stupid.

[@colorbugoriginals4457]

Yes, they are exactly the problem. Find a nice thing, pump it for money and ruin it for everyone. She is the problem.

[@lauirehrh]

@@DoYouLikeToastTooyes we have a pool single family home that is beautiful we don’t charge a cleaning fee and our pricing is great we make more money from a triplex that is 3 efficiency small units are the way to go

[@colinchan1]

I really appreciate you making these less business-successful videos even though they’re a lot harder to motivate yourself to make. I find that I learn a lot more from failures than successes.

[@Muzeishen]

Thank you for sharing your struggle with business. So many influencers say “take my masterclass” and make it seem like success is easy. There are twists and turns, but you’re certainly on the right path.

[@Lucysil1970]

Air bnb rates are getting out of hand. All the fees are making hotels seem cheaper.

[@ShelbyChurch]

a hotel is cheaper, but can only sleep 2 people. Are 3 hotel rooms cheaper than 1 Airbnb, though? That's usually why I book an airbnb- I'm staying with a group. Otherwise I agree and prefer a hotel room if it's just me or one other person.

[@lorenzograssi3637]

You also don't usually get a kitchen if you book a hotel

[@MrDwalks]

I think the trick is to keep the fees low enough and the "Airbnb experience" with enough amenities that it becomes worth the added cost

[@boyleheights9280]

Cleaning fee’s and rules making me go back to hotels 😮

[@tabithathewholistic]

Absolutely!!

[@jaspersmythe6014]

Its very obvious that the primary reason you lost money was that your daily rate was insanely too high. Lower your daily rate, and you will get more bookings.

[@reneschaefer4027]

Thank you for this honest sharing. There are so many posers out the it is nice to hear the truth from time to time. I have a chain of apart hotels in Blackpool, UK. And I also realised that it is very impotant to understand the impact of a resession on your profit-turnover ratio. If you have a profit-turnover ration of 40% with most of it fix cost than a decline of you turnover of 30% can reduce your profit by near to 70%. But I am 4 years in this business and at the long term it levels still out to a decent profit that I can double my net worth every 3 years. However with the low quality of staff you get here in Blackpool it is never a passiv income.

[@ivantejeda]

🔥 I’m with you on this Rene! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.

[@kimberbell4238]

As a content creator you and your sister were able to make money on your videos. Not something that the average person could count on, but if you figure that in, your way ahead of the game!!💞

[@akastardust]

This is such an excellent point.

[@SmashBrosBrawl]

KZbin == big money

[@b.l.8611]

You need Solar, and you need a solar water heater for your pool. Pool cleaning seems very high. Pest control should be quarterly and if you have an ant problem, they need to come more. Put all of your landscaping in drought tolertant plantings, with drip irrigiation. All of these items would be tax write offs.

[@bethmccall9254]

Bad idea to turn off the AC when not occupied. Mold grows in 12-72 hours. You need to keep the humidity down. Once you get mold in your place, it will be a total loss.

[@melaniemarkwell8689]

Palm Springs is not humid….dry to the bone

[@emilyhannon9546]

Thank you for being brave enough to tell us about your actual experience with AirBNB. You have a great attitude with this venture and I am sending positive vibes for your future success!

[@janecarhart515]

Thanks for showing the real situation that can occur with Airbnb’s. I sell real estate, have my own Airbnb and many clients that are searching for these types of properties. Having your video to share with them is really helpful! Thanks! ❤

[@CaseyFerguson]

I'd look at AirBnB and rentals more as a long-term investment. Even if you break 'even' it's a win, you have an asset (land/house), a tax deduction (losses). Every bit of profit after that is a +1 overall. This is assuming it's an alternate income stream. Also solar is WAY more pricey than the estimates / websites want to make it out to be if you want a backup/battery reserve. Still a great choice, but not a 'no brainer.'

[@networth00]

@@CaseyFerguson I used to think like that when I was a teenager. Nobody wants to go through all this trouble and invest lots of money to break even.

[@davidlauer5436]

Glad to see there’s a correction in the Airbnb market. I live in a tourist community and I’m sick and tired of having these homes all around me not knowing who they are and what kind of person they are. All the partying that goes on and then parking their vehicles on your side lot because they don’t have enough room at the house they’re staying at. We are having a hard time finding workers for this town because of the rent is so few and so high when you do find a place

[@ren5397]

Yep, I live in the most popular beach town in Australia and the rental crisis is so bad there was a protest in town last week. The cost of long term rentals plays it's part but Airbnb means there is less competition in the long term rental market as well. Businesses can't find employees because the young people they hire can't find homes/afford to rent, we still have families who are homeless after the floods last year but can't leave the area because their businesses/extended families are here, and to top it off, a property manager friend of mine said this summer in our peak season 60% of the short term rentals are sitting empty, because everyone with money is going to Europe now they can travel again. It's a joke.

[@Nettietwixt]

Yeah it's a huge issue where I live in the UK. Airbnbs have taken over properties in normal residental areas as well as the tourist areas and there's just nowhere for locals to live. You look at housing for long term rent in any town in the south west and there'll be about 2 to 3 properties available and so many have closed viewings because there's so many people looking for properties. It's having such a huge effect on local communities and places can't find employees let alone seasonal workers because there's nowhere for them to live.

[@NatalieMarie917]

⁠​⁠@@NettietwixtI’m really thankful that my city places heavy restrictions on airbnbs (e.g., you’re only allowed to run an airbnb out of a home you actually live in, and you have to have a license to rent out rooms which they only give to about 200 people at a time).

[@mausieur]

One thing I really appreciate about your channel is your honesty when things don't workout as you expected. I do think that over the long run your place is going to be profitable

[@MsCdngrrl]

I really appreciate your honesty. I’m from western Canada and I looked a flying down to Palm Springs and the flights were insanely expensive. The cost to security and airport improvement taxes were most than the flight itself. We used to be able to fly down for around $300 return and now it’s closer to $900.

[@zoekenny3619]

Since when is $400-$500 a night a 'low' rate? You seem to be living in a parallel universe to most people.

[@mirko5707]

make it cheaper in the low season as most of your cost is fix cost. You need more customer in the low season. Reduce your mortage cost. Keep in mind that you might to renovate the house after some years.

[@kaitlynramirez4577]

Loved the video! Would love to see another series about the whole solar panel selection, installation + operation process whenever you install those! That would be SUPER interesting to see what it’s like to pick them out as well as how they perform and save money!

[@Neezabja]

Yes and give a brief explanation of how the technology works too!

[@CassandraEvergreen]

I wonder if you've thought of other ways to monetise the Airbnb in the off season? One way is to hire the house out to photographers and film makers. Another option is hiring it out to local artists who want to run workshops. Even allowing local swimming instructors who use public pools, to instead hire your pool for their clients who are anxious about learning to swim in public. Not sure if any of these will work for your situation, but thinking outside the box can sometimes be really lucrative. You have a space here... what else do people need spaces for? 🙂

[@johannnafunk]

for real tho even kids birthday parties

[@OurLadyLaLa]

I used to rent Airbnb’s exclusively but now hotels are more affordable for short term stays. Key is SHORT TERM STAYS! I find Airbnb very convenient for month to month rentals and always look at Airbnb first for these.

[@aprilsullivan2405]

I'm a Realtor so watching this it was obvious your Realtor and your mortgage lender did not properly prepare you for the uptick in property taxes. The extra bill you received was a supplemental tax bill, this bill is triggered when the person that sold their home was paying on a purchase price that is lower than your purchase price - in CA it's 1% of the purchase price and then goes up depending on the rate of inflation but is capped at 2%/yr. What I always let clients know is #1, they will get a supplemental bill and #2 I have the lender calculate the new tax bill rate so that the mortgage starts off with that amount so it's not a big surprise later on. The other thing is that Palm Springs has incredibly high temps during the summer so rates should reflect that, I think $500/night was way to high for summer months, I'm a CA girl born and raised so I can take summer temps but honestly the Palm Springs summer temps are on another level. Lastly, the solar panels there are three ways to go #1 get a power purchase agreement from a solar company - they put the panels on and then sell you the power generated from them at a lower rate than the power company, #2 a solar lease - you lease the panels and then pay the lease payment and then some of the electric cost or #3 buy the panels outright. The plus of the power purchase or the lease options is that the solar companies need to update the panels regularly and they do that at no cost to you, but if you buy panels then you will need to pay the cost to update and they need to be updated and maintained regularly in order to keep up electricity production. Also I would suggest getting a smart thermostat such as nest or something similar that you can actually track and run from an app.

[@davidduaneh]

Love you, Shelby. I have the feeling there are going to be a lot of stories like yours over the next few months. I just bought my first short term rental home in St. Augustine, Fl recently, and I'm not feeling too good about it at this point. For one thing, there have been so many additional STR properties added to the mix this year, that that fact alone would cause occupancy rates to decline, not counting the negative effects of the current economy.

[@brianxyz]

Shelby, have you considered dropping Airbnb and doing your own booking and promoting? In one of your first "Checked-In" videos the owner did that and it seemed to be a very wise move. As long as you could figure out how to screen renters I think this would save you a ton of money.

[@vivienhantosi9369]

Fingers crossed that you get more bookings soon! The house is so beautiful and you did an amazing job with the renovation & the process of turning it into an airbnb.

[@isabeltapia1262]

Most people are realizing what a scam AirBnB is honestly.. all the extra charges are ridiculous. Most people are going back to hotels.. I live in Palm Springs and for a staycation I’d rather stay somewhere like the Ace Hotel then an AirBnB because cost is much better

[@lironkufert7495]

Costs better and you get breakfast and you don't have to worry about bedsheets, pillows, towels, cleaning supplies etc.... We stayed in a place where we had to buy our own dish soap, dish sponges and laundry detergents, even plates and cutlery.... Never again

[@BradColemanisHere]

Shelby, you two have grown so much in this experience. Everything you've laid out here is really detailed and smart. You're doing great, and I love your perspective on this being a great house to enjoy for your family and I firmly believe when you do decide to sell it you will come out on top.

[@emmaodey1999]

Thanks for watching and showing love.!❤️ by leaving a comment let's talk in👆private✍️ Text📝 via telegram you're selected among my Christmas ongoing giveaway 🎁🎉!

[@Jeroen74]

You could also consider installing solar collector pool heaters to help keep the pool water warm and reduce gas usage. They're basically nothing more than black pipes with pool water running through them.

[@annalu1778]

It's honestly so cool how you're diversifying your risk profile by making content out your Airbnb, so that even if you lose money, you still come out ahead with the content.

[@blmichal]

Please take in to consideration turning off your air conditioning completely during the summer is really hard on your electronics and any wood furniture in your home. We have a vacation home in Palm Springs and learned the hard way.

[@camcam3087]

How is it hard on electronics? The moisture?

[@implodingslowly]

Yeah this is asking for mold too.. yikes

[@NormanF62]

I think Shelby should shut down the Palm Springs property in the slow-moving months of the year. Not worth to keep it open because the few bookings made are outstripped by the expense of keeping it open. It makes more sense to open it in in the months when full occupancy is a certainty and that’s a sound business decision. Anyway else, I guess you could keep an Airbnb running all year around in other regions but Palm Springs is such a hot place maybe its not where most people want to spend their summer.

[@glk5960]

Yes, really tough on wood. I had wood floors and subfloors buckle due to humidity build up after turning off the AC. Maybe in the desert you can get away with with it. Maybe a dehumidifier would solve this issue at a significantly lower cost than AC.

[@healthywealthywise]

Shelby, how do I find your property listing? I’ve mentioned before that I am there in PS every 5-6 weeks (from nearby Huntington Beach) and I had family there just 2 weeks ago and booked a property for 6 days through Vacation PS (about $3000) and I normally spend about $2k for 4-5 days for my stays. I’ve never don Air B&B. Hope to book your property sometime.

[@HockeyVictory66]

So, you didn’t know that the summers are dead in Palm Springs/Palm Desert? Hotel deals during the summer are off the charts. You can find rooms at nice hotels from $100-$200 from late May to late October.

[@murraypollard]

I have watched this with interest because I am a former landlord, and have lived through various economic cycles. I can only praise you for what you are doing. The risks, you were not fully aware of, but you really qualified it correctly with your comment of "over 5 years". The economy will turn around, it always does, but you have to have reserve money on hand to weather the storms. You are smart to have done that.

[@Athandatu]

Finally a realistic AirBnB video showing that it’s not all profits. Thanks, Shelby! Loved it!

[@aleenazia2965]

People are also no longer interested in booking airbnbs - the company is in a lot of trouble, airline costs are higher because people ARE travelling, American reported that 80 percent of their first class cabins get booked. If you do a deep dive with Airbnb on the internet, people are done. Probably not the time now to start a new one

[@tabithathewholistic]

Yep!!

[@josephaugello1527]

People like going to big cities or the beach now since everything costs alot

[@mfranc1971]

There are more platforms other than Airbnb. Also Airbnb made more this year than previous year so they're fine. The STR platform isn't going anywhere.

[@Constellasian]

Something I learned from other AirBnB hosts were that they also saved a lot of the profit from the busy season to cover for the slow season. Basically, if they made enough in the busy season to cover the mortgage for the year, they're pretty much set.

[@ShelbyChurch]

yep that’s what I did too- I didn’t spend any of it

[@BubbaBlueTube]

The end of Air BnB is coming. Countries all across the world are putting restrictions on short term rentals, and even cities in America are making changes. Saying how the owner has to stay in the residence while renting, how you can rent for less than 6 months, taxing at a higher rate, all kinds of good stuff. Glad to see this market crashing. Short term rentals are killing the American housing market, sending prices higher.

[@kataclysmic4350]

Thank you!!! For being brave, truthful, and honest on the expenses when it comes to running Air BNBs . The market is saturated with Air BNBs. As of right now, we’re breaking even.

[@networth00]

It's time to sell before other list theirs also.

[@JonathanSorunke]

Even though there are fears of a recession, people are still spending money on travel. I think the problem is that Airbnb’s are falling out of favor for people when they’re priced similar to hotels and don’t provide the same level of customer service.

[@barrettorth8413]

Fears of recession? We're already in a recession - soon to be worse than '08.

[@KV-vj8pd]

Shelby I appreciate the honest video! One of my properties is in PS and after a couple years of Airbnb I went the alternative route and converted it to a long term rental. Less hassle, one consistent tenant, tenant pays utilities and you know what rent you get monthly😃

[@austJW]

a lot less risk and hassle. Airbnb works only if you are earning 'super' profits above rental.

[@peace5647]

One of the challenges that happened during 2020 and on was the Moratorium in NYS. Really turned off the prospective Landlord. I do not know about other states, but Airbnb seems like a better option.

[@MillaExplores]

This was such a good video and I'm sure everyone watching appreciates the honesty! I think so many Airbnb hosts make it seems like an easy and low-risk investment which can lead to people making decisions they later realize they actually can't afford. Money transparency in general is the way to go! 😊👏🏼

[@sandyrose2398]

People could make money on Airbnb, if they're renting a room(s) in the property they live in.

[@MissBrri]

@@sandyrose2398 This is exactly what my boyfriend and I have been doing for the last 2 years. We own a 3 bedroom house and we live in the attic that was converted into a bedroom. Since we have no children this has been a great way for us to build equity because the money we would have spent on mortgage/rent goes to fixing up the house.

[@wademoore2101]

Great info. I just recently starting doing vacation rental with our lake cabin. We hadn't been able to use it as much as we would like so we decided to try the rental option so it would hopefully, at least pay for itself. I've watched several of your videos during the process of getting ours ready and really appreciate your transparency. Our listing went live 2 weeks ago and we have already had it rented 7 nights. Hopefully the trend continues.

[@lowmanagain]

I have a lakefront home that I'm not at often. I'm getting ready to airbnb it also. 1:45 min. From Chicago

[@BronwynAlexandriaa]

Easy fix is matching the market. Peak season = charge more, 3 day limit. Down season = charge way less with 1 night minimum, or two night minimum. I would also do research for conventions, events, or anything that is "happening" located in palm springs during the low months. If you can find events, competitions, anything in that sort, you could set a promo code for them, or reach out to those events and try and parnter with them. something of the sort. also, the solar pannels are a great idea.

[@hodoree457ho]

Wth is 1 night min? Are there places you book by the hour? Lol

[@Niaaa3393]

You and your sis are the qween of bad investment decisions but love how y'all still keep preserving

[@Richard-oq5ti]

Thanks for being so transparent and showing the ups and downs. Not everything is rainbows and butterflies. Hope you have better coming months!

[@deniseweimer1031]

I truly appreciate the honesty and I hope others do too. I bought an Airbnb in 2021 and the advice that my real estate mentor gave me is that there should always be another benefit, just like how you love to vacation there personally. If you bought a property where you already live in town or you did genuinely don’t want to go it’s not worth it you need to choose a place that would benefit you ad well! Thank you for making this video. It’s nice to see you. I watched your videos when you were just starting out and just recently came in contact with you again. You’re an incredible adult and putting out great content.😊

[@kristinunpoisoned]

I don't know how you do it Shelby- every time there's a sponsor ad on a video I'm watching I'm always like "ok time to fast-forward" but with yours I'm like wait, I want to hear about this one though. Every time!

[@jcm5651]

By keeping the thermostat completely off during the summer it could wear and damage the house due to the excessive heat build up. Maybe reconsider setting the thermostat to maintain 100. Have your property management company close all shades and drapes during vacancies to reduce the amount of heat and damaging UV rays which will fade all your floors and furniture including covering all the patio furniture. You also might consider window tint. Solar will help because during the hot days the panels will give you free power to run the AC at a minimum temperature when the sun is out.

[@PJwithheart]

Sorry it took me so long to watch, but thanks for the honesty! Truth is, There will be a point when there are too many Airbnb’s and not enough customers. I’m not saying this has already happened, but investors should be realistic. Also, have you looked into insulating the house better? It might be cheaper to insulate and save on electricity, rather than install a full solar system.

[@seanharding]

Lately I've seen various online discussions about shifting sentiment among travelers about Airbnb - frustration about fees (cleaning, etc.) and rules, worries about being burned by shady hosts, and so on. I'm curious about your perspective on this as a host (even though you haven't been doing it for very long). From your side have you seen any changes in guest attitudes or behavior? Are you concerned about bad hosts ruining it for the good ones? Or do you think the negative side is being overblown by a few disgruntled people?

[@Holigrafik]

everyone I know avoids airbnb like the plague now. they were only popular when they were cheaper than hotels. now hosts are asking guests to do chores and charging them like $100 cleaning fee per night! if you look at Shelby's listing on airbnb there are over $250 in extra fees per night. id rather stay in a hotel than book any airbnb nowadays

[@TheUkrainianStar]

Still way cheaper than hotels. You can rent our beautiful townhouse in the resort and hot tub for about 1/4 of the hotel price.

[@OurLadyLaLa]

@@TheUkrainianStar how do you keep your prices down? It’s been increasingly rare for me to find an Airbnb cheaper than a hotel.

[@NatashaEstrada]

Honestly I’d be surprised if AirBnB is around in 5 years as a company. The prices aren’t competitive and the customer sentiment is pretty poor right now.

[@33Jenesis]

I am a solo traveler thus no need to rent a whole house. If there is a party of 4 or more, renting a house or a condo at a travel destination is mor economical and convenient to have a kitchen and everyone under one roof. In that sense AirBnB is a good option. I had tried renting a room in someone’s house while in Orlando. While it is cheaper than a hotel room, it has limitation, too (had to share kitchen and common area with homeowners and other guests; hard to come and go at any hour).

[@TheUkrainianStar]

It takes a lot to come out and being honest about your investments. Thank you for doing so. This is priceless. Others just yell how they return their cash in one year. Just unrealistic.

[@cyrilroxas]

new sub. love how transparent and authentic she is. a lot of ppl would appreciate this kind of information

[@kevinwilson9278]

Shelby thank you for sharing your honest experience. I am running into the same results and need to make adjustment or possibly just go back to long term renting. I think your channel is one of the best because of your transparency!!

[@azservices]

Shelby, let us manage it, I guarantee you won't loose money anytime in your life on that property. It is not passive income business.

[@k_money]

100%

[@birdness]

I wouldn't trust anyone with money that doesn't know the difference between loose and lose.

[@Malc4dead]

Thanks for the transparent video as I've considered doing an Airbnb to be able to have a property when visiting family and making money during the rest of the year. I think you are spot on, the beginnings of a recession and inflation are hurting people. I'm curious about how your Airbnb will do next spring so please give us an update, because inflation tends to stick around and this recession will probably digging it's heels in by then. I hope that spring does bring you plenty of guests nonetheless. Great video Shelby!

[@ivantejeda]

🔥 I’m with you on this @Malc4dead! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.

[@HenrySetGo]

Great video, and switching to solar is a super interesting idea. Another possible factor is that with international travel much easier now, people are choosing to vacation abroad. Seems like everyone's gone to Europe this summer.

[@ShelbyChurch]

Absolutely this is a factor!

[@liabe18]

Also with the euro being so low that definitely also made people come to Europe

[@BrokeTheGamer]

1. If you turn the AC off during the peak of summer, you will eventually be facing the expense of replacing the refrigerator - which has a compressor that will be working overtime. Also, the excess unvented heat will affect your other appliances, wood framing and possibly your plumbing. The AC does more than cool the air. It also acts as a dehumidifier that extracts the moisture from the shaded air so that the moisture d…. ok ok. You get it. Suggestion? Get a smart thermostat that can be controlled remotely. Set it at a high temp, and program a low-temp limit (like 68°) so occupants can’t set it to something ridiculous, like 60°. (Though, at $500/night - you spending $30-40 per night towards utilities isn’t unreasonable) 2. If your Airbnb is fully compliant with local zoning/permitting, your PoCo should be billing you at a wholesale rate. (Like a hotel) 3. Revenue minus expenses is not the whole story when owning real estate as an investment vehicle. Annual Tax Depreciation + asset appreciation together, given enough time, alone are worth owning the asset as long as your carrying costs are paid. 4. Where’d the money from the good months go? Palm Springs, much like a lot of other nice places, is seasonal. That is known in advance. Yield Management (in the hotel business) is strategizing and analyzing the data as a means to extract the highest REVPar, while maintaining a marketable occupancy record. I seriously recommend you become familiar with yield management, REVpar and how the two together could increase your revenue AND exponentially increase the value of your property if appraised on the income approach in the future. If your occupancy rate is near 100% during peak season, you’re not priced high enough. Conversely, if your occupancy is at 3% for a month, you’re price too high. The money is at finding an occupancy rate balance across all months, minimizing the occupancy swing. A nightly rate that achieves 80% occupancy during peak season is ideal. It means that you’re extracting the (approx) most money from the market. Which is the entire idea here. In business, increasing revenue is a win. Even if you don’t increase profit. Obviously, you want to earn a profit. But, if cutting your rate 50% means 4X the bookings, and you have those room-nights available… BOOK AT THAT LOWER RATE. During the off season, you have to find a way to keep your revenue up, even if it means slim or no profit. During peak season, when you make $16k/mo or 300% margins, those margins MUST be available for the off-season, when the rate is 1/3rd and margins are at just 20% over carrying cost.

[@amirk.2148]

Thank you for being transparent!! Go Seattle!!!

[@ivantejeda]

Hey Amir 👋 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.

[@user-ok6ef9zn4f]

Leaving the thermostat at 86 degrees seems pretty minimal. Damage can occur to the home if the AC does not run for extended amounts of time during hot weather.

[@jhonsmith5710]

Hey Shelby. Just want to say I also recently started an Airbnb so I will definitely be signing up for your newsletter. If you could make more videos like this that would be great!

[@franksanchez9355]

you must drop your prices. its better to make some money rather than no money at all. with the AC you can connect it to your phone so when people leave you can turn it off from your phone to help keep the cost down

[@distilledfreedom1840]

Well holy moly. I'm from the desert and I'll tell you it is a dust town in summer. It's too hot to even stay inside as the AC cannot keep up, not to mention the electric bill. I'd say April-November is too hot.

[@jacobean]

I don't think you can count the mortgage as your airbnb loss since the home didn't depreciate and can be sold.

[@ivantejeda]

💡Thanks for sharing @jacobean! Maybe I should make a video on this 🤔

[@cyrilsamsungs8477]

exactly, it is too easy to assume renters will pay for your house ! this is not an expense.

[@shyennebahar]

Thank you Shelby, for sharing and your transparency. It's always fun to share the wins and profits, but I'm really glad you did a deep dive into where things could have been better and what were the major expenses. I am an Airbnb host as well, and I definitely had to play around with pricing. I didn't expect in the fall I would have to lower my pricing up to 20 to 50%.

[@pattyg7244]

I think doing the solar would be so worth it! It would be interesting to know if by documenting the process it would pay for itself. Maybe a video idea? Either way love your vlogs!

[@ShelbyChurch]

definitely want to make a video about it!

[@kristinajohns961]

I've been doing Airbnb for 5 years, I have a spare room and bathroom in my home, the original idea was to offer up a spare room space, so it is affordable for travellers, I love being a host ❣️

[@emmaodey1999]

Thanks for watching and showing love.!❤️ by leaving a comment let's talk in👆private✍️ Text📝 via telegram you're selected among my Christmas ongoing giveaway 🎁🎉!

[@ivantejeda]

Hey Kristina 👋 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.

[@Annabell076]

I am sorry for you guys, because you invested money and you do everything legally! I live in Europe, and have been using AirBnb for a long time, but gradually less and less due to their service fees out of control. I wonder how much is the fee for your house...

[@KyleBergren]

If I remember right, the solar tax credit is only for owner occupied homes not AirBnBs. Definitely go for a battery system because SCE switches customers to time of use rates where evening power use costs double.

[@ivantejeda]

💡Thanks for sharing Kyle! Maybe I should make a video on this 🤔

[@suriaya]

Love how transparent you are when it comes to how much you're spending on this whole project! Please keep it up in your next one too!

[@realyelladiamond]

Glad somebody is actually telling the real life situation instead of making everything look perfect!

[@alexanderanastas-hill5487]

honestly, good. nothing against Shelby but not EVERYONE can just airbnb. we need longterm housing everywhere

[@vivekshivdasani9521]

I am not surprised that you have over 1.5 million subscribers. The accounting has been presented in such an interesting manner.

[@ivantejeda]

🔥 I’m with you on this Vivek! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.

[@Your6figurementor]

This was a really refreshing video! You are one of the REAL ones, unlike Kevin David & Graham Stephan who are known scammers. Love your channel and content, keep up the good work! 👍🏽👍🏽

[@ivantejeda]

🔥 I’m with you on this @Y6FM! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.

[@georgestreng]

I have an AirBnB condo in Palm Springs also and for the first time I had no guests in July, August, or September, which was really surprising. There really were substantially fewer people visiting this summer. I used the time to work with a contractor to make some upgrades.

[@ivantejeda]

💡Thanks for sharing George! Maybe I should make a video on this 🤔

[@RichPrice_livebyoc]

Great content Shelby and thanks for sharing your numbers! I live in a seasonal resort location at the beach over on the East Coast and its the same thing. Year round residents is about 7K and in the sumner we can have 250K + people in town vacationing at all times through the week. Short term rentals, hotels and businesses will experience super high volume in the peak season (summer for us) and super low volume in the winter. Most come out very profitable when looking at the entire year. You drive a good point to have a reserve for maintenance.....etc when they pop up. Be great to see another review of your full year of your AirBnB when 2022 is over. 🙌🏼

[@Catch.716]

This is an awesome video.. it’s not all highs in real estate and it’s a huge investment so learning these things prior to ventures is critical… props to you for having the confidence to talk about your lows too!

[@ivantejeda]

🔥 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.

[@daniellewhit7624]

Great info. I love how you share all the info so we know what we would be getting into.

[@ivantejeda]

🔥 I’m with you on this Danielle! This was a great video! P.S. If you have any questions about starting & growing your Airbnb business lmk.

[@mwest3583]

Palm springs is a tough market. Highly seasonal. You have to use an oven mitt in the summer to open your doors.