Hi there everyone!
Ive been an Airbnb host starting this year and its been a great learning experience. At the moment I am managing three listings and I am paid 10% of the months gross income. Recently I was contacted by someone who has rental properties all over my city. He wants me to convert several of his empty rentals into Airbnb's - Im always excited for a challenge! However, he wants to become business partners and share the income. He wants me to project how many units I need to do in order to make it profitable, establish a company, know the start up costs, etc. The good part is that I wont be tied to a lease and a set payment. I am just lost on how I can make this profitable for him and myself.
Does anyone have any experiences of becoming business partners with the landlords? Any advice would be GREATLY appreciated.
Thank you to everyone who reads this.
In researching the same topics as you have I came upon a facebook group that might provide you some answers. https://www.facebook.com/groups/2293773057512030/
I see a few months have passed since this initial queerie and I am curious as to how's it going for you and if you have any new insights on the topic as I'm currently interested in doing the same in my hometown.