SEMI OR COMPLETELY RETIRE WITH AIRBNB

[Chary0]

We enjoyed reading the story about the couple who semi retired in S. Africa. 

We live in Texas, and have also built our home over the years.  AirBnB has given us the additional income to finish some of the dreams that we have had for years.  We just finished a portico in the front, and added 5 water storage tanks to supply our trees and garden.  The projects still in progress are a carport, barn, garage apartment, and eventually, a barn apartment. 

It is so helpful to have the additional income that makes these dreams come true, at a retired couple's pace.  Thanks again, airbnb.

[Kristen-and-Matt0]

We've been hosts for less than a year, and this is really inspiring - thank you! 

[Linda108]

@Chary0   I have a similar experience with my hosting income.  I am retired and after about 2 years of hoping my friends would come use the lovely guest room I kept pristine but mostly empty, at the suggestion of my daughter I listed on AirBNB.  the combination of extra income and the tax deduction has allowed me the ability to renovate the guest bathroom,  add a new HVAC system, redecorate my patio.  Additionally, I have travelled some.  I am not rich by any means with the Air BNB hosting gig.  However, it does allow me a little wriggle room.  If I quit tomorrow, I would not suffer in my daily living as I did not structure my retirement based on this extra income.

[Paul154]

@Chary0 

I am so jealous of you. You live in that wonderful state of Texas, where property rights are dear and protected.

I agree with everything you've written. Airbnb has provided me a meaningful semi-retirement of meeting people, challenges and service. I now can pay my taxes and do maintainence.

Unfortunately because of political risk, I cannot suggest Airbnb for retirement. So many cities are like my Seattle. These cities have politicians who believe OUR private property is THEIR property. They can and will regulate us out of business and/or greatly raise taxes that cut into our profits. 

[Chary0]

Paul, I am hopeful that you will continue to work with AirBnB although I know the city politics make it more difficult.  I love Seattle!  Maybe we will come see you this fall!

[Lizzie]

This is so great to hear @Chary0. I've always wanted to build my own home some day. It sounds like your home has changed quite a lot over the years. Congrats on all the great work, I hope you get lots of time to sit down and admire your handy work! 🙂

I like the sounds of the water storage tanks, I'm thinking of getting a water butt (a lot smaller scale than yours), for watering the plants in the summer. Do you have a lot of trees and garden to cover?

P.s - I hope you don't mind, I moved your topic to the Hosting board here in the CC. 🙂

[Chary0]

We have 6 acres and that is sometimes too much.  Last year we had 2 acres in garden, but took off this year because of these other projects (and we had so much canned and in the freezer)... So we only have about 50 trees and shrubs to water.  We have used old fashioned water hoses but plan on making a more sophisticated systerm;  and maybe we will be able to have another garden in the fall with not so much $ going to water bill ($2-400/mo) last year.  This is the first week that it hasn't rained this summer (rare in Texas)

we would love to come visit you!  Maybe next year!  I googled a water butt and the 300 Gal one looks like the ones we installed.  Maybe eventually, we will have a enough water conservation features to make it a

"AirBnB adventure"! It stays HOT in Texas so  we use alot of water in July and August! 

[Mark116]

We've also been using the income from the airbnb on property upgrades, all of the infrastructure issues--new heating, electrical upgrades, masonry work--that is so expensive but fairly unrewarding from an asthetic sense.  

Sadly, however, airbnb is now really at the mercy of local governments, the income stream could be zapped at any time, made illegal and there you are.  Probably not happen in Texas:) but it has already happened to a lot of people in New Jersey and our city just created a new draconian set of rules that basically eliminates everyone who isn't an on site host and will mandate a 'permit' [cost to be determined], which I suspect will be followed by a host of other costly mandates....

[Chary0]

We have the advantage of being  in the country.  the cities in Texas are also trying to limit profit, and even are looking at ways to limit the amount of rainwater we can use.  Riduculous, I think because it goes back into the water table whether or not we use it for watering .. 

Sitting on  small city councils and being involved in rule making is a good way to keep goverrnment from interferring with how we use our private property.  I don't know about big city politics.

[Beth80]

It's not so much the income that is generating the improvements in our house as the guests. 

We've been living in the house for years while it's not been quiet finished. Little things that aren't" needed" but make the place look better. Having strangers in and out constantly has encouraged my husband to finally get to these finishing touches.  Yeah for door trim!   🙂

[Chary0]

I totally agree!  door trim, etc, does happen faster, if there is a possibility of finished space generating more income.  Hopefully we will also generate enough income to come see you!

[Emilia42]

I, too, would love to expand my little Airbnb empire and "semi retire" at my young age. Unfortunately, I cannot trust that Airbnb won't shut me down because one guest out of hundreds reports me for some unjustified reason. There are far too many stories of this happening and it has greatly diminished my trust in the company. I cannot rely on them.

[Cathie19]

Like @Emilia42, @Chary0 , I’d like to share the dream.... but the full on risk in a seasonal area is too great at this point in time. Emilia and @Paul154 are correct. Too many factors with council laws and Airbnb’s inconsistent governance to take the leap....

[Yadira22]

Hi @Chary0 

this is so beautiful and I am so happy for you. 

Airbnb has facilitated us to help pay off the mortgage and push my parents to retire sooner. They have about 1.5years left and then they are free.  I am so, so happy to be able to do this for them- it’s hard and stressful but when I see their “total due” it brings my heart peace. It also gives them the chance to tick off their bucket lists (we made an actual list) and I will slowly make sure they get through it. They go to Mexico in February 2020. 

Thank you for reminding me why I do this- often I just see the black and white but not the techni-colour of this venture. 

Have a beautiful day! 

Yadira 🙂

[Alice595]

@Chary0 I am glad to know that you have been doing very well. Like some hosts here mentioned by @Emilia42, @Paul154 , and @Cathie19 , there are so many uncerntainty and risks involved in operating Airbnb in the following areas

1. Safety and security risk: As a host, you are letting out your property to some strangers who are not screened by Airbnb thoroughly. Just one dangerous guy could ruin your property parially or entirely. 

2. Risk of being delisted and kicked out by Airbnb without explanation. In this forum, many hosts have been delisted for no reasons or accused by some guests with lies. Some of them have thousands reviews with a number of listings.

3. Sustainability due to other factors. You may need to have a big heart and can deal with guests with various background, culture, characteristics in order to survive. And you also need to keep competitive in managing your listings in order to gain profit. With the more and more listings in the area, the difference between short-term rental profits are slowly approaching that of the long-term rental. 

Good luck to all us all hosts!