Airbnb Business Mentorship, Frisco Texas

[Jessica4035]

My husband and I are considering pulling equity from our home and using it to purchase a vacation rental. We did use a prior home as a vacation rental and rented for a year, so we do have a tiny bit of experience.

Prior to taking this financial risk however, Im hoping to find a mentor who has experience in this industry; specifically in choosing the right property. I heard about a mentorship program. Can anyone point me in the right direction for my area? We're in Melissa Texas, but plan to investigate purchasing our first property in Frisco, Texas. Any help would be so greatly appreciated. 

Jess

[Bhumika]

Hi @Jessica4035 , have you made any progress with your research so far?

There's a mentorship program for new hosts on Airbnb, but it's mainly for hosts who've already set up their listing. : 👉Get help with your listing from a Superhost 👈

However, I am tagging a few experienced hosts from Texas, if they have any tips or ideas for us here :  @Alandria1  @Amber1010 @Ann45396 @Austin493  @Courtney686 @Deva136  @Erik2338 @Franklin140 @Greg2496 .

Looking forward to hearing their insights! 🌻

[Helen3]

Airbnb Ambassadors help you set up your listing on Airbnb @Jessica4035 they don't help you find the right property .

you would need to do your market research on STR regulations in the area you want to buy in, any business regulations and supply and demand for the sort of property you want to buy. 

once you have this information you can put a profit and loss account together based on all your costs , how many days you're likely to let your property for and what rate. This will give you likely profitability . 

once you have this information talk to your accountant for financial advice .