Questions

i need $40,000 for a down payment on a house to start an Airbnb business......any help available?

3answers

There are so many ideas.

What skills do you have? Can you sell them at an hourly or weekly rate? Do you have an asset (pickup truck, empty bedroom, etc) that you can rent out? Can you mow lawns? Trim trees? Clean debris? Take trash to the dump or transfer station? Can you walk dogs?

Can you pickup and deliver groceries for your neighbors? Can you upcycle "junk"? (think furniture like dressers, armoires, night stands, etc)

Remember, there are two sides to accounting: make more money (see above) or reduce expenses.

What costs can you cut from your current budget? Can you sell/sublease/rent out your current living quarters? Can you sell your vehicle? Extra items? Can you cut cable TV? Stop dining out? Cancel Spotify/Netflix/Amazon Prime?

In my experience, the issue is not a lack of money-making opportunities, it is that people often don't want to do the work or make the sacrifice.

All the best,
-Shaun


Answered 3 months ago

Hi, it maybe helpful to look at strategies that do not take up more of your time. We only have 24 hours. This is one of the best times not to only purchase this house, but a few others. Let's come up with a game plan that will help your supercede your goal.


Answered 3 months ago

Do you have a business license for this entity? If so you will probably qualify for a SBA loan or grant. You can also work on business credit or a line of credit from your business banker.

If you do or don't have a business license - You can crowdfund or fundraise as well. You may also want to consider starting another way, for example you can find a vacant unit in a highly desirable area and work out an agreement with the landlord to cover their desired rent amount, and pocket or split the AirBnB revenue.


Answered a month ago

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