This is how much my $300k chalet made on airbnb in one year
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- Äas pĆidĂĄn 30. 07. 2024
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I pulled the trigger on a new construction in the gatlinburg area earlier this year. When itâs done I should already have $200k in equity and a place that will gross $150-200k a year. Not bad for my first time. Need to get another second home for my wife đ
I hate you. But I also am really happy for you lol. Congrats thatâs awesome.
Thatâs awesome. How did you swing that deal? Interested.
@@brandonm5083 someone I know who knows the area well hooked me up with a developer. Locked in a price very early this year. Finally closed in August and they honored the price. Had to jump through a lot of hoops with septics and number of bathrooms but is all working out. Place is coming along nicely.
@@churn_diesel excited for you!
We are under contract for a 4/6 with indoor pool and theater room. Price touching 900, but it should gross around your figures. Stress eating while we do our diligence!
@@churn_diesel interested in any contacts youâve got for the area!
$324K for a place like that in the Smoky Mountains is an absolute steal, especially considering the income it generates. You can't touch anything close to that for under $650K right now. Well done.
Thank you again Rob! I'm closing on my second STR in December and really needed to hear your reassurance. IMO the remodel could be mostly paint and furnishings. A play area for the kiddos would be a nice feature to add if you have the space.
Glad to hear this today, my wife and I did a consult with you awhile back and are now in the game! and working through the kinks and the journey.
Great video! For upgrades, my first thought is to resist the temptation to change anything that creates the rustic vibe. Design-wise, keep it as-is. Instead, focus on modern amenities. You didn't talk about any of the CapEx stuff, but I would do those first -- replace the roof (if needed), make sure the deck is sturdy, update whole house plumbing. Next, I would go for stuff that is on its last legs. Replace it with similar design but high quality. I hope 2022 is even more profitable for you, and I can't wait to see what your next project is!
Lysm Rob you're honestly the only youtuber that I've come across that I have similar ideas that I've never told anyone about. Lol you're my favorite!
Thanks for being so transparent - that's huge for potential investors to know!
As a personal recommendation from someone who stayed in the smoky mountains in an air bnb for a month is including as many kitchen appliances and bathroom amenities as possible. Our air bnb host had everything and our drive into town was down a rough bumpy road so to have everything we needed/avoid trips to the store was super nice!
Great content Rob! My first airbnb is going to do about a 60% Cash on Cash Return this year which is wild! Not as big of numbers but much better than a 401K!
Congratulations rob! That's so awesome! You are such an inspiration
Hey Rob!
My wife and I just came across your channel on Sunday and weâre loving your content! We are Airbnb superhosts with one STR and a recently purchased duplex that we are using as an LTR. We want to build an Airbnb empire! (Insert scary laugh). Any simple advice on expanding and making that leap for the next 2, 3, 10 STR purchases?
My recommendation would be to re-do the kitchen (modern appliances/cabinets and such but not taking away from the rustic feel of the house) and maybe paint other areas as you mentioned. I like the cabin vibe, it really works with being in the mountains.
Great video. Your content has made me more confident with my first Airbnb. First guests are there now. Weâll see how it goes!
Nice, thank you for another great video. #1 thing to remodel is definitely the kitchen.
Def don't paint the wood paneling -- that stuff definitely adds to the charm.
Updated living room furniture probably, paint in there, some of the decor like you mentioned.
Maybe update the baths too.
In Colorado hot tubs are the most requested amenity. After a full day of skiing or a full day of hiking nothing feels better on the legs than a hot tub.
Are you from Colorado?
I always love the detail and transparency in your content. I do have 1 call out. You didn't mention supplies, maintenance or unexpected misc. costs in your expenses. I have a STR in the NY Catskills area getting a similar cash on cash return. However, with a big back yard and generous in-house amenities, I do also add these categories for my P&L. Can you speak to any costs that might not be detailed in the video?
Amazing video! I live in Atlanta just a few hours away and within the next 2 years I will be buying my first airbnb around that area. Thanks for the videos and the information.
Nice, your videos help me to want to get into Airbnb! Thanks for all your doing.
I already have my foot in the door with RE investing and watching your videos makes me so much more excited for my future. Thanks again for sharing your journey
Absolutely incredible video my friend! Great info and quickly delivered. Cheers!
Seriously greatful for your amazing energy and inspiration! We listed our first Airbnb in Etowah NC (not far away) last week. Teach on teacher đ đ„°đ
I'm really hoping I can get started investing next year. Your videos really make me feel like I can do it too. One thing I noticed in your video was a lack of natural light in some places. So, if I were to remodel I would look for a way to increase natural light. Also, updating the kitchen could potentially increase the nightly rates in my opinion.
Congratulations great job you have been smashing it. Even with the bears helping you out.
"The best time to buy was 10 years ago" pretty sure you heard that from me LOL Remodel suggestion: the one thing I hated in that chalet was those ancient sliding glass doors! Though honestly probably not a ton of value add in replacing them, so whatever :) You all are killing it!
LOVE your videos. I am really curious though on the business side of the house and would LOVE if you made a video. Do you have 1 LLC that covers all your properties? How are your taxes? Do you use QuickBooks &/or an Accountant? How do you get the financing to purchase Airbnb property? Ya know, all the boring technical stuff.
I would forever be grateful for such content! Thanks Rob and Rob's Avengers!
As a RE Appraiser, I get asked all the time, "What kind of upgrades are going to bring me, the most value." My answer is always, "That depends on your neighbors." What do your comps say you should do to your home? Always fix what is in disrepair, but, will new kitchen cabinets bring in more guests, than painted cabinets, if they both have marble counters?
I've been researching properties just south of Disneyland and I can tell that having a yard or garage with a place for kids to play, is going to get more bookings than having a luxury condo. You don't even need to have a Disney themed place, just make it fun for the kids, and provide a quiet place for their parents to decompress, lol.
Love that area you moved to. Great spot. As far as remodels go, I would probably just update the kitchen. Everything else looks great.
Cosmetic update to kitchen. Paint if needed around the house. Fire pit. Kid area
Iâm sure if you read your reviews itâll point you in the right direction of where to inject money. Love your content as always!
Agree regarding paneling. Normally donât like that type but fits well. Keep it:)đđ»
I wanted to stay in this air bnb!! My boyfriend and I live in airbnbs each month traveling while we work & I think this mightâve been one we considered!
Interesting. How common is it to run into other digital nomads travelling around as well?
I am under contract on a chalet that is similar to this but needs WAY more work. Yours actually gave me hope about what is possible and is helping me not be so frightened. Lol. I don't think yours really NEEDS much done to it. Now, if you wanna get creative, like I know you do, than I'd go for replacing the sinks and some paint and more cosmetic stuff. Luckily it's got good bones and a nice layout already. Good purchase!
Best video. Straight forward and less jokes! Just facts!
Another great video, been watching yours for over a year. How do you select partners for a project, what criteria do you require or look for? Want to learn and get into the STR but not allowed in my market so like to partner in other markets to learn.
So youâre saying the place is doing âbearyâ well? đ
Thank you thank you thank you for breaking down all the costs and incomes. I actually want to buy something similar on the other side of the state line in NC. We are also going to be turning our current house into a double unit that has an in law suite at the beach in Wilmington. We would like to have a house in the mountains and at the beach so this video is very good info. Thanks again.
I do Interior Design for short term rentals. Love your properties. I would definitely change out the the curtains and countertops!
Thanks for the breakdown of the numbers! Very helpful..
Huge fan of this channel! I think a management fee should be included in the analysis even though yâall are managing it yourselves
What a charming chalet you have there! I honestly think the only update you need to do is the kitchen cabinetry. Just a suggestion as a mama with littles, that couch being against the stairwell makes me super nervous đ„ș I could see a toddler climbing on that couch and possibly falling over the top into the stairwell. So I donât know if you could wall that off or put decorative railing up to prevent a potential tragedy.
Hey man, you came through my register tonight, great content!!!
Haha whatâs up maaaaan.
Great property and awesome video as always. Do you need an LLC or business license to run a Airbnb in Gatlinburg? If so, how would that work with a 2nd home loan?
Generic/vague question incoming: is the market super hot all around the area? I'm looking at little West towards Robbinsville. It'd be a home base where I could ride my motorcycle and AirBnB it when I wasn't there. Anyways, love the content Rob, keep killing it.
âMade out of tree sticksâ âŠâŠwell done Robert!
That should be a T-shirt I reckon.
Love love love your rugs, weâre did you get them from?
Rob, enserio que haces excelentes inversiones, te felicito. Saludos, Roger Erosa
Since you bought the property with a secondary home loan, how are you dividing equity between your partners? Do you eventually plan to transfer the property title to an LLC? Iâve been following a similar investing model and have been trying to figure out the best way to handle an equity split down the line
Iâd recommend securing the decor and glass bottles above the bed in the converted den if you havenât already. Thatâs one bump away from a disaster
I've looked through all of your videos but you haven't talked about the most important aspect of your business. How do you protect yourself from liability, what is your business structure? LLC, S-Corp, Etc. Also, what are your property tax implication on the tiny home you built on your property? Hope to see the answers in future videos.
You have to do the kitchen, honestly the rest looks good or good enough but that kitchen could use something like a live edge counter and a copper sink with some more rustic cabinets to match the rest of the home
The property looks perfect as is, but if I had 50 k to throw at it to make it more marketable and profitable I would add a small sauna for 2 - 4 people. This would make the listing stand out more than other other average cabins in the area and give a more luxury/relaxation vibe. + Who can say they have a sauna in their home? haha, keep up the good work man, love your b rolls.
Totally agree! Never a bad time to buy!
Glad you are wanting to keep the converted den paneling and that you repurposed the stained glass as a wall hanging. Would like to hear why the staircase probably won't meet current code, you were saying ?
Thanks another great video Rob. QQ: Do you typically charge back the cleaning fee to your guests? In this video it appears you don't. If so, why not? Would love to hear the thought process
It's just easier to grab those numbers from airbnb cause that is the way they report it, as a host the tenants pay a cleaning fee and that may or may not match each cleaning expense.
I needed that. Prices are not going to drop anytime soon.
I found this a little after the fact but if I owned that little place, the only thing I would change out is those OLD sliding glass doors for nice french doors or new sliders... It will be a huge upgrade without breaking the bank...... great buy and amazing profit maker!! Oh yeah... I would also clean up those rocks on the fireplace and put in a wood stove insert.
Good video. Thanks for the information.
Hey man, I literally own the cabin next door! The log cabin down the hill with the outside fireplace. Small world!
This is where I'm torn. I absolutely love the smokies go there all the time. I'm trying to figure out what my first rental unit should be. A STR like this (would love to have this Rob) or a LTR like a duplex or quad using as a hack. Any advice?
since you asked, I would get rid of the sliding glass door that looks out to the side of the hot tub. I'd just be waiting for a bear to fall through that glass. LOL plus not a very attractive view out the inoperable sliding doors of the hot tub. Maybe you can close it off and put in a higher window or add a window on a different wall. I get the paneling being rustic but I think I would paint it or get rid of it. There are a lot of paint colors that are not white. Or a nice headboard would hide part of the panelling. None of these design issues, including the kitchen, would prevent me from booking. Your added decor went a long way!
Airbnb in gatlinburg is smart because many people book cabins there. I was there in September this yr. and when we were booking for cabin, the dates were almost full. So now that I think of it, I should buy a property investment over there.
You could upgrade the sliding door/windows of the den, it could be a lot more energy efficient in that room with some modern Scandinavian windows. The kitchen is the obvious.
I must be doing something wrong bc I can't see how one can make much of a return with the housing costs so high in Gatlinburg. I was pumped and ready to buy when I first started watching Rob's channel. Even had wife talked into it.
Great video as always. I think you didn't mention occupancy rate?
Converted den bedroomâŠhere is my $0.02âŠstay with wood but eliminate the paneling. Maybe a horizontal application of ship lap or rough hewn wood planks? Still woodsy, rustic but updated and modern in the approach.
We need a video on the Robuilt private jet your using to fly all over the United states to the 14+ Airbnbs you have đ you could also rent out the plane âïž LETâS GOOOO!
Hey Rob, nice video! You said he cabin was old, May I please know how old is it?
Might be able to fit a twin over full bunk bed in that den, or a loft with a futon or pullout sofa under it. Or a full size Murphy bed and a twin bunk bed.
Iâm a simple guy
Robuilt posts a new video, I hit the like button
Great job!
Definitely update the kitchen, granite, nice appliances and faucet. Just from a photograph perspective it will hold a lot of weight in almost everyoneâs mind when they consider your property.
Awesome content!;
Can you please share where did you buy your linens for the bed, looks very nice!
Awesome videos brother! This has been my dream to get into doing this in Gatlinburg and pigeon Forge for quite some time. I live in the Charlotte area just four hours away. My family and I want to do this as a source of income to get out of the every day working 9 to 5. Has this worked out for you? Do you have any advice if thinking about getting into the market there?
Great video. Iâm in the market. Why do you count cleaning fees as an expense? Isnât that a pass through to the renters thatâs reimbursed? (New here and learning).
I'm glad that bears can enjoy jacuzzi as well đ .
Hey Rob, what grills do you use at your short term rentals? We cheaped it on a Loweâs grill that hasnât faired very well over the course of a year.
My guests LOVE the blackstone grills. So much so that they mention it on their reviews and I'm using it as additional marketing
How do you remote manage these far out locations? Where do you find a cleaner / manager hybrid person?
Remodel the couch, definitely!
Ditch the Southwestern rug. Be a mountain man. Go with a bearskin rug. Sure, the bear might object but just tell him he'll be CZcams famous. đ
Take that den and make it multi use. Get rid of the fixes bed. Add a murphy bed and a murphy couch so the guests can choose what to use the space for.
What about when it comes to tax time? Rental property depreciation and the write offs you get for the expenses it takes to run this property? How does that change your bottom line?
How do you and your investors agree on what to remodel? Who does the leg work and finds the contractor or handyman to get jobs done?
I wonder if there are some economical ways to deter bears from your property, besides a full unsightly electric fence. I'd love to live in the mountains or at least rent out an Airbnb for a week, but I'm terrified of bears lol
Get a modern (maybe midcentury or farmhouse for ex) dose of fashion. Mix it with the âsomeoneâs cozy houseâ feel you already have goingâŠâŠâŠ.
For me clean looks and cleanliness are top pleasures after the view so rustic is not my favorite. But cozy? So wonderful to have too.
This place is super cute!
Nice cabin AirBnb. đđ
đđ tree sticks! đ€Łđ€Łđ€Ł
The kitchen!
Give ur editor a raise lolol
Hey Rob, you mentioned in one of your many videos that you are an air BnB host pal of a sort for new Hosts, how do I get a discount for referencing you as an AIR BNB referral assistant ? Not sure what the technical name is.
Iâm an Airbnb Ambassador! You can sign up here for $75 when you host your first stay:
www.airbnb.com/r/robuilt
watches 3 of Robuilt videos âšfeels like an expertâš lol
Haha aw this is the best comment ever.
I'm assuming theres a property tax and airbnb fees in the expenses (other than cleaning and utilities).
I feel like 324k for a place of this size is no longer attainable in Gatlinburg, correct?
What did your expenses include air b&b service fees, management fees advertising fees ?
You said cleaning is $13,500/90 groups = $150. Is it only $150 to clean and launder that big house each time? I pay my cleaner about $180 for a much smaller 3 bedroom airbnb rental in Joshua Tree. Are cleaning costs much higher in JT, or do you think I'm paying too much?
Yeah we pay $150. $180 in Joshua tree is about right. We paid $150 for a small 2/2 in JT.
I think there are too many wall hangings and chachki items. Other than that not much I would change. Possibly paint color in the main room. I like the idea of fresh white paint with one accent wall in a deep smokey color.
One minute into this video and Iâm already like F**k me , Iâm closing on my first one in that area this week for 100k more and wayyy less space đ©
"My neighbors are partying, so I guess I'll wrap it up".
What you meant to say is, "My neighbors are partying, so I guess I'll join them." đ
Rob and his dad jokes ⊠đ Rob this one is not my style but I can see why people that go to the smoky mountains would like it âŠI say itâs making good money as is .. leave it alone is what I would do.
What if I live out of state? And I want to buy a property in gatlinburg. Of course I dont wanna commit loan fraud or anything but what if I bought a home there and actually live there without changing my driverâs license. And then by the time Im allowed to rent it out, go back home in my housw in NJ? Is that going to work or not?
Great content but those audio levels.... Yikes!!!! Everythime the music kicks in I'm startled, then when it dies out, I can't hear you after I've adjusted.