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rethinktheratrace

Remember our reel back at the beginning of the mon

Remember our reel back at the beginning of the month?

Well, we thought a visual breakdown of what our Airbnb, Funky Flora, made in December would also be helpful to look at 👀

We had 6 bookings and 4 nights vacant, which left us with a 13% vacancy rate 🛏️

Here is the finance breakdown:
Expenses:
- Utilities: $62.52 🔌
- HOA: $113 🏢
- Internet: $70 💻
- Cleanings: $420 🧹
- Insurance: $50.60 👩🏼‍⚖️
- Streaming services: $12.13 📺
- Gifts for guests: $22.32 🍻
-Misc: $86.23 (replenishing supplies & a maintenance issue)

Total expenses: $836.79🫰🏼
Income: $1,950.98 💸
Profit: $1,114.19💰

While we were in town, we had a mini crisis when our guest reached out and said the supply closet was leaking (gushing) water. Thinking it was a worst case scenario, and the water heater burst, we rushed over to cut the water off and assess the situation 💨

Luckily, it was just a water connection hose that had sprung a leak. It was spraying the closet door and getting the surrounding carpet wet 💧

Since the guests were gone for the day, we dried up the water, ran to Home Depot, and replaced the hose ourselves 🙌🏼

Our guest was incredibly understanding, but as a thank you for dealing with the maintenance issue, we got her a $10 gift card to a coffee shop ☕️

Every guest was great and all 3 guests who left us reviews, gave us 5⭐️! Just another month as self managing real estate investors! 💰

👉🏼 Follow @rethinktheratrace for more tips on financial freedom with real estate! 👈🏼
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#rethinktheratrace #airbnb #airbnbhost #airbnbsuperhost #shorttermrental #shorttermrentals #vacationrental #vrbo #realestate #realestateinvestor #realestateinvestment #realestateinvesting #propertymanager #propertymanagement #landlord #investmentproperty #investment #passiveincome #financialfreedom #financialindependence #biggerpockets

🍻 Cheers to 3,000 followers 🥂 Y’all are a

🍻 Cheers to 3,000 followers 🥂

Y’all are amazing 🫶🏼

Y’all may not be able to tell…but James photoshopped in the balloons and string 🥸

Thank y’all so much for following along for our weird mix of good real estate advice with a sprinkle of ridiculous and shitty jokes 🤭

We’ll be the first to admit that we aren’t the best at social media. We’re busy living life outside of the screens, but we’re thankful that you’re giving us your time & attention! 🙌🏼

👉🏼 Follow @rethinktheratrace for more tips on financial freedom with real estate! 👈🏼
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#rethinktheratrace #airbnb #airbnbhost #airbnbsuperhost #shorttermrental #shorttermrentals #vacationrental #vrbo #realestate #realestateinvestor #realestateinvestment #realestateinvesting #propertymanager #propertymanagement #landlord #investmentproperty #investment #passiveincome #financialfreedom #financialindependence #biggerpockets

Are you making this mistake⁉️ We know now tha

Are you making this mistake⁉️

We know now that we left thousands of dollars on the table by not using dynamic pricing tools earlier 🤦🏼‍♀️🤦🏻‍♂️

In less than an hour, we had our @pricelabs dynamic pricing set up and it immediately adjusted our weekend prices up by 15-25% 📈

When the demand was high, we were getting bookings for double our nightly price and we never dreamed we could get that much 🤯

We’ll be sharing more tips soon on setting up dynamic pricing rules to maximize revenue & guests that you want! 👍🏼

👉🏼 Follow @rethinktheratrace for more tips on financial freedom with real estate! 👈🏼
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#rethinktheratrace #airbnb #airbnbhost #airbnbsuperhost #shorttermrental #shorttermrentals #vacationrental #vrbo #realestate #realestateinvestor #realestateinvestment #realestateinvesting #propertymanager #propertymanagement #landlord #investmentproperty #investment #passiveincome #financialfreedom #financialindependence #biggerpockets

Here’s our timeline: ⏰ 2016- We found the FIR

Here’s our timeline: ⏰

2016- We found the FIRE movement which stands for Financial Independence Early Retirement. We started living our life and spending our money more intentionally with specific goals in mind 💭

2017- Bought our first rental property. We bought it in Alabama while we were in St. Louis so we started our investing journey by investing remotely 🏠

2019- When we hit 10 units and had enough income to cover all our expenses, we decided to pull the trigger and quit our jobs and immediately went abroad for 8 months ✈️

2022- We launched three different STR’s bringing our total to 5 STR/MTRs. We love the flexibility of STRs & MTRs and the ability for us to crash there when we aren’t traveling 😅

We’re just two regular people who decided to live our lives differently & intentionally. You can do it too! 👍🏼

👉🏼 Follow @rethinktheratrace for more tips on financial freedom with real estate! 👈🏼
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#rethinktheratrace #airbnb #airbnbhost #airbnbsuperhost #shorttermrental #shorttermrentals #vacationrental #vrbo #realestate #realestateinvestor #realestateinvestment #realestateinvesting #propertymanager #propertymanagement #landlord #investmentproperty #investment #passiveincome #financialfreedom #financialindependence #biggerpockets

Have you designed a life of your dreams? The inc

Have you designed a life of your dreams?

The income from our Airbnbs allows us to travel anywhere at any time 🧳

Our travels in 2022 had a few Mexico trips, a lot of Florida trips, and a couple international trips 🛫

We set up our rentals with systems in place so we can manage everything remotely 🤳

If you’re interested in learning how to self-manage your short-term rentals remotely be sure to check out our link in bio! 👆🏼

👉🏼 Follow @rethinktheratrace for more tips on financial freedom with real estate! 👈🏼
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#rethinktheratrace #airbnb #airbnbhost #airbnbsuperhost #shorttermrental #shorttermrentals #vacationrental #vrbo #realestate #realestateinvestor #realestateinvestment #realestateinvesting #propertymanager #propertymanagement #landlord #investmentproperty #investment #passiveincome #financialfreedom #financialindependence #biggerpockets

Did we mention the $100 cleaning fee? 🧹 We’r

Did we mention the $100 cleaning fee? 🧹

We’re bringing back Shitpost Saturday 😂

We definitely don’t suggest having a list like this if you want to get 5⭐️ reviews

We’ve not encountered any ridiculous check-out instructions but we’ve heard of some outlandish shit 😅

Personally, we don’t think it’s too much to ask for a guest to:
-take out their trash
-run the dishwasher

Anything more than that, you might get some pushback and we don’t necessarily blame them 🤷🏼‍♀️🤷🏻‍♂️

👉🏼 Follow @rethinktheratrace for more tips on financial freedom with real estate! 👈🏼
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#rethinktheratrace #airbnb #airbnbhost #airbnbsuperhost #shorttermrental #shorttermrentals #vacationrental #vrbo #realestate #realestateinvestor #realestateinvestment #realestateinvesting #propertymanager #propertymanagement #landlord #investmentproperty #investment #passiveincome #financialfreedom #financialindependence #biggerpockets

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