347: How to Make Money with AirBnb Rentals
Many therapists are interested in diversifying their income streams beyond their clinical work. We focus today’s session on a very specific aspect of supplemental income, mainly around AirBnb rentals. Join us to learn more!
Our Featured Guest
Mando Sallavanti III
Armando “Mando” Sallavanti III is a CERTIFIED FINANCIAL PLANNER™ with a wealth of wisdom to share. We met and connected through LinkedIn, and we’ve had several conversations in recent months. In this session, he shares his expert opinion on owning AirBnb rental properties as compared to long-term rentals, along with the nuances of setting boundaries as a rental property owner. He is open to sharing mistakes he has made along the journey and what he finds rewarding in his role as a rental property owner.
You’ll Learn:
- Why real estate became the natural pivot for Mando to diversify his income
- How Mando and his fiancé became the owners of a triplex home, living in one unit and renting out the other two
- Why investing in real estate is a common denominator for wealthy people
- How AirBnb rental management differs from traditional long-term rentals
- How Mando maintains boundaries with tenants living in such close proximity to his home
- Why Mando works with a rental management company for AirBnb rentals, cleaning, maintenance, etc.
- How Mando’s AirBnb rental properties bring in significantly more money monthly than the same units did previously as long-term rentals
- Mando’s mistakes in not knowing what his expenses would actually be on his older property
- Mando’s advice to others: “Whether you purchase a property as a primary residence or for a rental, have an emergency fund set up to cover repairs and maintenance. There will always be unexpected issues that come up.”
- What Mando sees as the hardest part of owning rental properties
Armando Sallavanti is a registered representative of and offers securities and investment advisory services through MML Investors Services, LLC. Member SIPC. Supervisory Office: 2 Bala Plaza, Ste 901, Bala Cynwyd, PA 19004. Tel: 610.766.3000. Discussion of real estate investing is informational only and is not a service of MML Investors Services, LLC. or its affiliate companies.
Resources:
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