E3: Everything You Need to Know About Airbnb Investing From Start to Finish: Seattle Living & Wealth Building

05/31/22 • 55 min

Are you considering becoming an Airbnb or Vrbo host? Not sure how to start the process? In this episode of the Seattle Living & Wealth Building podcast, the Wagner Real Estate Group welcomes Adrian Bell to talk about buying and growing an Airbnb rental property from start to finish. Tune in as we break down tips, hacks, and strategies for buying, furnishing, marketing, and differentiating your investment property from others on the market.

You’ll gain insight into how to maximize the ROI on your Airbnb rental, the importance of profiling the different types of guests you host, how to sustain year-round demand, potential issues with HOAs, and so much more. If you’re dancing around the idea of investing in a short-term rental property (or multiple), grab our hands and let’s waltz through it together!

Key Topics/What You’ll Learn:

[00:44] Introducing Adrian Bell and today’s topic
[03:41] What to consider when buying, furnishing, and decorating an Airbnb rental
[06:52] How to maintain year-round demand for an Airbnb in any market
[08:29] Reasons for buying short-term rentals, like Airbnb and Vrbo, and common mistakes Airbnb hosts make
[12:04] Differentiation: Why it’s important to create a story or niche for your Airbnb rental property
[16:37] Marketing: The impact of social media on Airbnb and similar vacation rentals & Tips and tricks for boosting your rental on Airbnb
[18:31] How long does it take to launch an Airbnb? & How supply chain issues and seasonality are impacting Airbnb hosts
[23:15] How Adrian learned the business of Airbnb and vacation rentals
[26:14] Tips and advice for becoming a Superhost
[31:23] Will demand of Airbnbs rise in the future or will saturation become an issue?
[35:49] Increasing the cash flow of your investment property & Why you need a budget
[38:47] Updates on Lisa and Maynard’s new Airbnb
[40:42] Budgeting: Upfront costs, average cost per square foot, making decisions with partner, and more.
[45:08] What makes you say “yes” to an investment property?
[50:19] What is a reasonable price to spend on an investment property?
[53:56] Potential issues with HOAs and short-term rentals
[57:20] What NOT to do when buying an Airbnb rental property

To connect with Adrian, email him at [email protected].

If you enjoy Seattle Living & Wealth Building, please RATE/REVIEW us on Apple Podcasts and SHARE it with a friend or loved one you think would enjoy it too!

SUBSCRIBE to our YouTube channel: https://www.youtube.com/channel/UCfznP6YUtzk0kaDewobj7jQ

Buying or selling a home? Visit our website to get in touch: https://www.mwagnerhomes.com

Connect with us on Facebook: https://www.facebook.com/MaynardWagnerRealEstateGroup

Follow Maynard on Twitter: https://twitter.com/maynardwagner

Seattle Living & Wealth Building is produced by Wagner Real Estate Group which is based in the Seattle, Washington area. With over $225 million sold in the last 5 years, plus 17 years of total experience, we thrive to provide exceptional real estate services in an innovative, collaborative, and positive-minded team approach.

Key Topics/What You’ll Learn:

[00:44] Introducing Adrian Bell and today’s topic
[03:41] What to consider when buying, furnishing, and decorating an Airbnb rental
[06:52] How to maintain year-round demand for an Airbnb in any market
[08:29] Reasons for buying short-term rentals, like Airbnb and Vrbo, and common mistakes Airbnb hosts make
[12:04] Differentiation: Why it’s important to create a story or niche for your Airbnb rental property
[16:37] Marketing: The impact of social media on Airbnb and similar vacation rentals & Tips and tricks for boosting your rental on Airbnb
[18:31] How long does it take to launch an Airbnb? & How supply chain issues and seasonality are impacting Airbnb hosts
[23:15] How Adrian learned the business of Airbnb and vacation rentals
[26:14] Tips and advice for becoming a Superhost
[31:23] Will demand of Airbnbs rise in the future or will saturation become an issue?
[35:49] Increasing the cash flow of your investment property & Why you need a budget
[38:47] Updates on Lisa and Maynard’s new Airbnb
[40:42] Budgeting: Upfront costs, average cost per square foot, making decisions with partner, and more.
[45:08] What makes you say “yes” to an investment property?
[50:19] What is a reasonable price to spend on an investment property?
[53:56] Potential issues with HOAs and short-term rentals
[57:20] What NOT to do when buying an Airbnb rental property

To connect with Adrian, email him at [email protected].

If you enjoy Seattle Living & Wealth Building, please RATE/REVIEW us on Apple Podcasts and SHARE it with a friend or loved one you think would enjoy it too!

SUBSCRIBE to our YouTube channel: https://www.youtube.com/channel/UCfznP6YUtzk0kaDewobj7jQ

Buying or selling a home? Visit our website to get in touch: https://www.mwagnerhomes.com

Connect with us on Facebook: https://www.facebook.com/MaynardWagnerRealEstateGroup

Follow Maynard on Twitter: https://twitter.com/maynardwagner

Previous Episode

E2: The New Home Buying Journey: Seattle Living & Wealth Building Show

How has the home buyer’s journey changed over the past decade and what do you need to know about buying real estate in 2022? In this episode of the Seattle Living & Wealth Building podcast, we break down the fundamentals of the home buyer journey. Tune in as we address the challenges home buyers have been facing since the pandemic, the various costs associated with buying real estate, the 3-phase process for buying your ideal home, and more!

Then, we call our friend Nick, who recently bought his first home with his wife, to describe his real estate buying journey and what he learned throughout the process. Do all properties look as good as they do online? How did your buying criteria evolve as time went on? What caused you to back out of your first contract? What was the biggest challenge you experience during the home buying journey and how did we help you overcome that? Tune in to hear Nick’s valuable insights!

Key Topics/What You’ll Learn:

[01:40] Introducing today’s topic
[04:16] How long is the typical buyer journey in real estate?
[05:08] Why it’s important to know what type of buyer you’re working with
[05:50] What was your fastest closing?
[07:07] Buyers don’t usually know where they’re at in the buying journey... What factors affect that and how do you address that as an agent?
[10:35] Is there a formula for success? What does it take for buyers to succeed in the current real estate market?
[13:45] Trends and changes we’ve seen in real estate and mortgage & Can we expect a real estate crash soon?
[17:27] The impact of high-balance conforming loans on home buyers
[19:54] Interest rates and real estate prices in Seattle in 2022
[22:07] What is an appraisal? & How to navigate challenges with home appraisal gaps
[28:41] Nick’s buying journey
[46:03] How do I get started on the home buying journey?
[48:42] Costs associated with buying real estate

Have a question about the home buying journey? Let us know!
If you enjoy Seattle Living & Wealth Building, please RATE/REVIEW us on Apple Podcasts and SHARE it with a friend or loved one you think would enjoy it too!

SUBSCRIBE to our YouTube channel: https://www.youtube.com/channel/UCfznP6YUtzk0kaDewobj7jQ
Buying or selling a home? Visit our website to get in touch: https://www.mwagnerhomes.com

Follow us on Instagram:
Maynard Wagner: https://www.instagram.com/seattle_realtor_maynard
Justin Day: https://www.instagram.com/justindayrealestate/
Michael Dapper: https://www.instagram.com/michaeldapper/

Next Episode

E4: How Sarah Turned 1 Property to a 7-Figure Real Estate Portfolio So She Could Retire Early: Seattle Living & Wealth Building

Do you want to build a real estate portfolio so you can retire early? Tune in to learn how! In this episode of the Seattle Living & Wealth Building podcast, the Wagner Real Estate Group welcomes Sarah Bedwell to talk about building wealth through real estate and how she went from owning one home to multiple investment properties.

Sarah and the team give great advice to new/aspiring real estate investors and share valuable insights on property management, growing your investment portfolio, moving your real estate investments to a new state, and the benefits of investing in homes with accessory dwelling units (ADU).

“What’s crazy is our dreams of when we can retire keep getting younger and younger because our real estate portfolio should put us in a position where it kicks off enough cash for us to live on and then our market nest egg can just keep growing.”- Sarah Bedwell

Key Topics/What You’ll Learn:

[00:48] Introducing Sarah Bedwell and today’s topic
[03:29] How Sarah bought her first home from overseas
[07:48] Building confidence as a real estate investor by getting clear on what you want out of life
[09:42] As new buyers, what drove you to buy a home during a volatile market?
[12:23] How do you add properties to your investment portfolio?
[15:36] Are people currently more attracted to craftsman homes or new construction homes?
[16:51] Lessons learned from buying and selling homes & What type of home sells the easiest?
[19:29] When you bought your first home, was your intention to buy it as an investment property?
[21:17] The power of leading with feelings rather than logic when investing in real estate
[24:22] Why Sarah transitioned from Seattle, Washington to Bend, Oregon. & The 1031 Exchange explained
[30:21] How to keep your lease updated to the current law
[31:01] Self-managing a property vs. Hiring a property manager
[33:12] The story behind Sarah’s surprise property! & About our concierge services
[39:32] The benefits of investing in homes with ADUs
[45:22] Advice for new real estate investors

If you enjoy Seattle Living & Wealth Building, please RATE/REVIEW us on Apple Podcasts and SHARE it with a friend or loved one you think would enjoy it too!

SUBSCRIBE to our YouTube channel: https://www.youtube.com/channel/UCfznP6YUtzk0kaDewobj7jQ

Buying or selling a home? Visit our website to get in touch: https://www.mwagnerhomes.com

Connect with us on Facebook: https://www.facebook.com/MaynardWagnerRealEstateGroup

Follow Maynard on Twitter: https://twitter.com/maynardwagner