
12/06/2024
You don’t need to break the bank to set up your Airbnb properties and grow your property portfolio!
Whether you’re using a rent-to-rent strategy or buying your own places, the key is the same: look for properties that don’t need major renovations and can be easily reconfigured to add more sleeping space.
All things being equal – more sleeping spaces means more revenue! 🛏💲💲🛏💲💲
Here’s an example where we recently bought a large apartment with underutilised space and turned it into two separate apartments.
It was a pretty simple conversion without any structural changes.
This just goes to show that you can add value without going overboard on expenses.
We closed in the two unused balconies to create a kitchen and bedroom.
This simple conversion created enough space to turn one unit into two, almost doubling our income for the property.
That’s the art of development at its best!
When you're just starting out on your property development journey, it's best to start small.
You’ll WILL make mistakes, but small mistakes are easier to bounce back from than big ones.
As your hosting revenue increases, drive that income back into renting or buying your next short-term rental property.
Before you know it, you’ll have a property portfolio to be proud of.🏠🏠🏠🏠
Give us a 🙌 if you’ve already started your property development adventure, we’d love to hear your stories.