Are you interested in launching your first vacation rental but are a bit hesitant to do so with the pandemic?
If so, I created this episode just for you!
Today, I share my top 3 reasons why I think investing in an Airbnb – even during a pandemic – can be a profitable move.
The first one may really surprise you but I hope you take them all to heart…
And if you’re interested in learning more about HOW to actually bring a vacation rental into your life as a part of your income portfolio, I’ve created something else just for you.
It’s called The 6-Figure Vacation Rental Roadmap and I’m putting on the finishing touches right now!
So, if you’d like to be the first to know when this program is live, head over to ginnytownsend.com/rental and save your place in line.
And if you’re curious about how much you could potentially earn with an Airbnb in your area, I can send you a free and pretty powerful tool to help you estimate…
Visit GinnyTownsend.com/estimate to claim access to this powerful free tool!
Thanks for joining me, and until next time, continue to be up and to the right.
What’s up, Podcast Nation? Ginny Townsend here. And I hope you have had a fantastic week. I hope it’s been productive and it’s moved you and your family and your business forward. And so to wrap up the week. I wanted to bring to you three reasons. Why investing in an air B&B during the pandemic can be a profitable move.
I was challenged to do so by a trusted advisor and you know what actually coming up with those three reasons, they came to mind immediately and I actually postponed recording this because I was like surely this isn’t I’m overlooking something. This was too simple. But as I went back a couple of days later and looked at those three reasons, I was like, you know, what? Yeah, these are strong. These are really good reasons. So without further ado, the first reason is
Well, let’s actually take a lesson from Dollywood now. I don’t know if you’re familiar with Dollywood but it is an amusement park founded by country music singer and actress Dolly Parton and it is located in Pigeon Forge Tennessee. Now, why on Earth am I mentioning this as I kick off the three reasons why investing in an Airbnb during the pandemic can be a profitable move? Hmm. So glad you asked.
Now I imagine most people when they think of Dolly Parton. They don’t think of a Savvy businesswoman, but I’m here to tell you. I think she is incredibly intelligent and definitely knows what she’s doing. She might have just put on the like the air of being a little bit of a ditzy blonde, but she is a very intelligent woman. Did you know that Pigeon Forge? Tennessee is a day’s drive from 50% of the United States population.
Like half of the country lives within a day’s Drive of Dollywood now that is some strategic positioning and yeah some of those people it’s a Long Day’s drive. But for a lot of that 50% a lot of that hundred and eighty million people who live within a day’s Drive of this amusement park hello strategic, right? So why I even bring this up is
A lot of some of the most profitable Airbnbs and vacation rentals in 2020 and well, we don’t have any dad for 21. It’s just two weeks old at this point, but I assume the trend is continuing.
Is if it’s drivable it’s doable. So some of the smaller towns in California have been the most profitable in the entire country because people in huge like there’s so many big cities in California, right and they’re looking to get out of this city to a more rural area to a smaller town area and those smaller towns have seen the biggest boom. So small towns around large cities if it’s there drivable there drivable two masses of
People and so because people are driving more they’re still wanting to you know, see other areas other than the four walls that they live in but if it’s drivable the air B&B Market tends to be still really strong if someone needs to fly to an area so it might be as an example. I mean larger cities actually so
If people don’t already live in a larger City, they might fly to that City, but those like more urban downtown Air B&B places are not performing like the ones are in suburban and more rural areas. Okay, so if it’s drivable it’s doable if you are near large population, but still in a more remote location that seems
Be kind of the sweet spot right now. And yeah, like I said people are still wanting to see other things other than their four walls. So the second reason is there is a strong traveler turned Nomad Trend so because and I’m just going to take the family as as an avatar to explain this trend family is are oftentimes being able to work.
And learn remotely, right? So people don’t have to necessarily be home to work and learn remotely. So there’s over towards the end of 2020. The numbers that are being be was providing was people are staying longer where they go, which totally makes sense because they’re not necessarily tied to a weekend or they aren’t necessarily tied to their
Two weeks vacation a year. So if family is want to see other places than their four walls, they can absolutely just stay longer. So as opposed to a traveler where you’re just you’re in you’re out it’s a little bit more of a nomad Trend where people are staying longer in places that aren’t necessarily their home because people still crave that change of scenery right variety is indeed the spice.
So the second reason to recap that is the traveler turned Nomad Trend and I don’t see that slowing down. In fact when I’m starting to hear some some universities in particular are considering even the 21 to 22 school year being virtual. I don’t see this trend slowing down.
Okay, and then the third reason?
why I think investing in an Airbnb during the pandemic can be a profitable move is these vacation rentals the short-term rentals out performed hotels in 27 Global markets according to a report by a company called are DNA that does a lot of research and provides a lot of data points on Airbnb and the whole vacation rental market in general so
What I gleaned from this and the conclusion. They also came to was people might not want to stay in hotels or there’s a lot of people kind of clustered in nearby.
The idea of being able to spread out a little more even when they’re traveling airbnb’s are at least in 27 Global markets outperforming hotels. So people are turning to airbnb’s as opposed to hotels when they need to travel. So people still want to travel they’re just going about it a little differently right now. So to recap the three reasons why starting an Airbnb during the pandemic can be a profitable move is one if it’s
Hannibal it’s doable. So people if it’s within driving distance, it is quite appealing and then there is secondly the traveler turns Nomad trend of being able to have a more virtual life style of working virtually and learning virtually. So people are staying in airbnb’s longer because they aren’t necessarily tied to a weekend anymore and thirdly airbnb’s have out performed hotels in 27 Global markets.
That was in 2020 and we can imagine just a couple of weeks into 21. That trend is probably still holding. Okay. So those are the three reasons that I came up with. Let it sit there for a couple of days and came back to him like yeah, these are actually these are the three that I want to share as you are. I assume trying to still consider. Hey is adding a vacation rental to your income portfolio. Is that the right move this year? And so I hope these
these three have been clarifying and helpful and you know what until we talk next continue to be up into the right.