The 5 WORST Ways to Get into the Airbnb Game (the gurus are dead wrong and I'm speechless)

Are you considering investing in the Airbnb game? Have you been listening to "gurus" who promise quick cash and easy profits? Before you take the plunge, read this blog post from Vodyssey and discover the 5 WORST ways to get into the short-term rental market.

I did a stupid thing.

I usually stay in my own lane and focus entirely on what I know works, property ownership, but sometimes I pause for a moment and get curious about what some of the other "gurus" popping up out there have to say.

...I'm speechless.

I won't name names, and I'm gonna change the words a bit so it's not obvious, but these are what a popular voice is currently recommending as the 5 "best" ways to break into the Airbnb market:

1. Rent out your house (primary or second home.. while you're not in it. How often are you actually going to hit the road & leave?)

2. "House Hack" - in this case meaning, buy a house, then subsidize the mortgage payment by renting out a room or two on Airbnb (This is by far the best advice and I touch on it later)

3. Unconventional Stuff - like glamping, tiny houses, etc. (tents and tiny houses on wheels are not appreciating assets)

4. Arbitrage - this is where you don't buy a property. You find one owned by someone else, lease it to yourself, then rent it out on Airbnb

5. Co-hosting - this is where you find a property owner and manage their property for them.

There is so much I could say...

but let me just start by being clear on where we stand here at Vodyssey:

I don't believe that any of them outside of #2 are good options

to invest in short term rentals

Under (almost) NO circumstance would I EVER recommend you run down ANY of these 5 roads if you are looking to "invest" in short term rentals.  They are all a recipe for misery, headache, and lackluster returns.

You can make #2 work IF AND ONLY IF you understand the limitations of living in the home as your primary residence.  If you are young and this works for you, house hacking can actually be a great strategy to build a portfolio early on in your investing journey.  

What DO I recommend?

Buy your own vacation home, set it up to offer a stellar guest experience, and enjoy all the short and long-term benefits of OWNERSHIP and CONTROL.

When it comes to your financial future, you don't want to hear the words hack, unconventional, arbitrage, or "co"-anything. If you invest for the long term, you must control and own the asset.

When you don't own and control:

You don't get appreciation.

You don't get major tax advantages.

You don't get "passive" anything.

You don't get the satisfaction of doing it exactly how you wanted to.

You get all the headaches with none of the major wins!

You must OWN and CONTROL the asset to win big.

All of the other options listed are side hustle business.  You will be trading time for money and giving yourself a second job.  Let me be clear, there is nothing wrong with that ,IF that is what you are looking for. 

However, they are not "Investment" strategies.  They are "Side Hustle" strategies.

If you're not in a position yet to purchase properties - go make some money and get focused. Don't waste away your life and productive years on a side hustle that could be shut down tomorrow by the actual owner of the property.  At best the non ownership models offer a cash grab for a while while you hustle trade your time for money.

That's the end of my rant.

If you want to make a money move that'll actually offer you lifestyle & financial freedom, talk to my team about joining Vodyssey and learn all of the benefits of OWNERSHIP.

Your future is yours - no one is coming to save you. You won't reach your goals unless you OWN the process - and own the damn asset!

If you're not in a position yet to purchase properties, don't waste your productive years on a side hustle that could be shut down tomorrow by the actual owner of the property. Instead, focus on making money and getting to a point where you can invest in owning and controlling the asset. Your future is yours, and no one is coming to save you. Join Vodyssey today and invest in your future with ownership and control.