October 30, 2019

Creating Cash Flow with Airbnb and Short-Term Rentals, with Rachel Prince

Episode 68:

Rachel Prince is a BNB real estate broker and investor and the creator of BUYBNB. Featured in INC. magazine and the front page of the Indy Star for her savvy BNB entrepreneurial vision, Rachel shares a passion and expertise for real estate and short-term renting. In 2017, Rachel relocated her Airbnb real estate business from Denver to carve out her real estate niche in the Indianapolis market with FC Tucker real estate firm. Rachel was able to bring her Airbnb property management company Hosts of Indy, LLC to six figures in less than a year.

Rachel consults via her website Rentalpreneur.com with Homebuyers, sellers, investors, builders and hosts from all over the nation on how to best identify, purchase, convert, scale, build and optimize their Airbnb homes. In addition, Rachel is the host of the “BNB Entrepreneur” podcast, available on Soundcloud and Apple Podcasts, where she speaks with Airbnb hosts and influencers including hospitality expert and author Joseph Micelli and Forbes-featured self-made millionaire Chirag Kulkarni. Rachel is the author of Airbnb Side Hustle: 10 Moneymaking Vacation Rental Gigs Beyond Renting Rooms and Airbnb Mentality: Harnessing a Winning 5-Star Attitude & 5 Bonus Steps To Ultimate Airbnb Success, both available on Amazon Kindle.

What you’ll learn about in this episode:

  • How Rachel first got involved in Airbnb out of financial desperation, and how she turned it into a lucrative real estate career
  • How Airbnb works to generate easy income from renting out unused space, and how Rachel was able to create a thriving market niche in short-term rentals
  • Why Rachel created her online course, BUYBNB, and how the course teaches people to set up and operate within the short-term rental space
  • How the Airbnb revolution has created a new type of entrepreneur and offers an easy way to create cash flow
  • Where Rachel’s more budget-restricted clients are able to find inexpensive home furnishings
  • What kinds of profits people who are operating in the short-term rental market can expect, and why short-term rentals work even in non-vacation spots
  • How to gauge your competition in an area to see how saturated the local market is and how easy it will be to book your property
  • How to hire out property management so that you can own short-term rentals remotely, and why smart door locks are a fantastic tool
  • Why the most important first step is to contact the local government to find out if short-term rentals are legal in that area
  • How to get a free PDF checklist from Rachel outlining the bare minimum furnishings every Airbnb rental property needs to have

Additional resources:

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