Rent a Room Strategy
In today’s module I want to cover renting out an individual room.
You could do this on a short term basis, like renting the room on a site like AirBnB for people to stay one or two nights.
Alternatively you could rent the room on a permanent basis and have a housemate.
This strategy builds wealth via generating cash flow. As you can see from the figures, you won’t be making a million dollars in your first year, however it gives cash in your pocket that can give you freedom or extra cash to live on.
Since you will in effect be living with these people, this strategy is suited to someone that loves meeting new people and it helps to generally be tidy, as you may not get much notice with some guests.
Your fun task is to discover if you have the lifestyle to accommodate a housemate or guests.
Are you willing to welcome new friends into your home and potentially clean up after them?
Do you find it exciting at the possibility of making a new friend each week?
Is Renting a Room your perfect property strategy?
If a strategy like renting a room on a site like Airbnb, then check out Bnb Duck they have great information to help you be success ful with this strategy.
You could do this on a short term basis, like renting the room on a site like AirBnB for people to stay one or two nights.
Alternatively you could rent the room on a permanent basis and have a housemate.
This strategy builds wealth via generating cash flow. As you can see from the figures, you won’t be making a million dollars in your first year, however it gives cash in your pocket that can give you freedom or extra cash to live on.
Since you will in effect be living with these people, this strategy is suited to someone that loves meeting new people and it helps to generally be tidy, as you may not get much notice with some guests.
Your fun task is to discover if you have the lifestyle to accommodate a housemate or guests.
Are you willing to welcome new friends into your home and potentially clean up after them?
Do you find it exciting at the possibility of making a new friend each week?
Is Renting a Room your perfect property strategy?
If a strategy like renting a room on a site like Airbnb, then check out Bnb Duck they have great information to help you be success ful with this strategy.