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The One Where Phillip AIRBNBs His Own Home with Phillip Ramsey and Bryan Dewhurst

Episode 45:

More and more people are dipping a toe or diving right into short-term rentals. AIRBNB and similar platforms are making it easy to market and get paid for sharing your home with perfect strangers. Short-term rental can be a great way of offsetting some of your mortgage costs.

Over the past several years, we have become big proponents of utilizing short-term rental as a way to test the waters in terms of using real estate as a source of residual income. This always begged the question, “Do you do short-term rentals?” For a lot of people, offering your primary residence seems like a pretty scary idea but we want to help take some of those fears away.

We’ve been fascinated by it and last year Phillip and his wife decided to go for it. This episode is about how they started, what they experienced, and mostly what a positive experience it was for them to offer their primary residence, get paid for it, and build some family memories in the process. That’s not to say there isn’t a cautionary tale in there as well.

Find out the answers to burning questions, like, “Why would you do that?” And “Where do you put your stuff?” The market for short-term rentals shows no sign of slowing down so if you’ve ever thought about it, this episode has some first-hand information that will help you decide if it’s right for you.

What You Will Learn in this Episode:

  • How to use your home as a short-term rental when you are on vacation
  • What to know before you consider short-term rental
  • Being strategic about what you want to get out of your short-term rental experience
  • How to prep your home to use as a short-term rental
  • What to do with your stuff when renting out your own home
  • How to automate as much of the rental process as possible
  • How to leverage the power of AIRBNB to market your short-term rental
  • What to do with a worst-case-scenario guest
“It’s important that you really think strategically about why are you doing this, how much you want to get out of it, and how much time and money you are willing to spend getting your home ready to rent short-term.” – Bryan Dewhurst Click To Tweet “You can spend a little or a lot (I mean a LOT) of money getting your house just the way you want it for AIRBNB guests. The beauty is, that’s all up to you.” – Phillip Ramsey Click To Tweet “We bought bedding, from sheets to comforters, specifically for our AIRBNB guests. So we just ‘flip’ the beds from our bedding to guest bedding before we leave.” – Phillip Ramsey Click To Tweet “It was weird leaving our house the first time and watching people come into our house via the video doorbell. And we were so nervous coming back to see what state our house was in. But it was like they had never been there. They treated it… Click To Tweet “You’ve got to think of your short-term rental like you’re running a mini-hotel. And you have AIRBNB marketing it for you literally around the world.” – Bryan Dewhurst Click To Tweet “If you have younger kids, offering your home for short-term rental is an opportunity to make some great memories with them with time away from home and beyond the normal routine.” – Phillip Ramsey Click To Tweet “You don’t have to say yes to every potential guest. We’re not above a little online stalking to see who is asking to stay in our home.” – Phillip Ramsey Click To Tweet “With technology like doorbell cameras and keyless combination door locks, it is easy to automate the guest experience and keep your home safe while you are away.” – Phillip Ramsey Click To Tweet