I was dead set on obtaining a duplex. Even if Denver’s market in the summer 2017 would not allow it. It seemed nearly impossible to find a duplex that would cash flow enough that I could live for free or get paid to live.
There it was. A completely remodeled two-bedroom, two-bathroom duplex just a mile and a half from my office and a few blocks north of Denver’s largest park.
Despite the fact that I really liked this property, it was no different from the others. I could not get it to cash flow. So I gave up, grabbed a bag of Doritos, and started watching reruns of Friends.
Just kidding! That would make for a lame post.
So instead of giving up, I kept thinking. Instead of saying, “I can’t get it to cash flow,” I asked myself: “How can I get it to cash flow?”
My answer? I got creative and decided to convert the living room into a quasi-bedroom by putting up a room divider and a curtain so that I could Airbnb my bedroom. For one year, I slept on a futon, behind a curtain, while a revolving door of Airbnb guests slept in my bed.
How was the experience? In short, it was great! But there were of course, pros and cons. That’s what this article is about. For anyone contemplating renting a portion of their property out on Airbnb, I hope that this article can help you make your decision.
First, the Pros
1. The People You Meet
I am a big traveler. I’ve been to nearly 30 countries, and my favorite part of traveling is the wonderful people I have met from all around the world. The cultural differences, their views on life, and of course, their accents!
While being an Airbnb host, I have had the opportunity to host and befriend people from all over without having to leave my living room. In exchange for a cheap place to crash, my travel bug was satisfied. Over the course of the year, I’ve hosted people from the UK, Australia, Portugal, Germany, New Zealand, and of course all throughout the United States.
While world travelers are fun to talk to, they typically come and go for a few days. But I’d also get people who were interested in moving to Denver. In fact, one of my guests reached out to me when she moved. Now, we are very good friends. We hang out all the time and do fun things together multiple times per week. Who would’ve known?
2. Most People Are Nice and Respectful
Typically, people stay for as little as one night or as many as five. This is not enough time for the guests to become super comfortable with you. I don’t mean that you make them feel uncomfortable. It is just that they are more mindful of making sure the bathroom is clean, the bedroom is clean, and that all the dishes are washed (if they are used).
Also, if you are nice and respectful to them, there is a high probability that they will leave you a good review, even if their stay was not perfect. It makes their experience a little bit more personal and a lot cheaper than if they got a hotel or a place to themselves.
I’m not going to sugar coat it. Once in a great while, you do get the annoying or disrespectful guest. The best part about this…