younginvestor2013
Recycles dryer sheets
- Joined
- Feb 6, 2013
- Messages
- 226
I'm curious to hear if anyone here has had any success in renting out an extra room (or their entire place) on airbnb as a means for extra income (presumably to FIRE)? I am especially curious to hear from those in major cities living in "hot" neighborhoods?
I currently have a small 1 bedroom condo in a popular neighborhood in Chicago. It would be nice to have extra space, so I have often contemplated upgrading to a 2 bedroom while rates are still low.
I've thought about pursuing the 2 bed, where I would try to semi-regularly rent the other bedroom out. I could get anywhere from $80-$150 a night, I think.
Doing that just 3 or 4 nights a month would rake in some extra cash, but I don't know if it's worth plopping $60k down for a new house when I already have one with about $40-50k equity in it.....
I currently have a small 1 bedroom condo in a popular neighborhood in Chicago. It would be nice to have extra space, so I have often contemplated upgrading to a 2 bedroom while rates are still low.
I've thought about pursuing the 2 bed, where I would try to semi-regularly rent the other bedroom out. I could get anywhere from $80-$150 a night, I think.
Doing that just 3 or 4 nights a month would rake in some extra cash, but I don't know if it's worth plopping $60k down for a new house when I already have one with about $40-50k equity in it.....