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re: What to do with cash right now?
Posted on 5/15/21 at 3:54 pm to I Love Bama
Posted on 5/15/21 at 3:54 pm to I Love Bama
quote:
Monthly payment with taxes and insurance - $750
Power Bill - $125
Water - $50
Internet - $75
Yard - $50 (basically just weed eating, no yard)
Airbnb items (coffee, etc) - $100
$2,250 Rev
$1,150 expenses
After Airbnb fees I think it will cashflow about $600 - $1,000 a month.
You are missing cleaning costs which will be significant or very time consuming and should account at least 100/mo for random repair costs.
You need to aim for higher occupancy or charge a higher rate or you are going to see a very poor ROI on this property as you have set it out. Not trying to be a debbie downer but those are a couple of big costs you haven't accounted for.
1
Posted on 5/15/21 at 5:31 pm to V Bainbridge
quote:
You are missing cleaning costs which will be significant or very time consuming and should account at least 100/mo for random repair costs.
You need to aim for higher occupancy or charge a higher rate or you are going to see a very poor ROI on this property as you have set it out. Not trying to be a debbie downer but those are a couple of big costs you haven't accounted for.
I was spitballing. I already have two airbnbs and will have 5 by the end of the year.
ROI is insane.
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