How I came to Own Three Air BNB Properties
Many people foresaw the retraction of the “production music” business since before COVID. I was lucky to start hedging my future in 2018 when I bought a duplex in a Florida low-income neighborhood.
2019 galvanized my plan to leave Los Angeles in favor of Asia. Each time I visited the continent I was greeted with a brighter, more vibrant entertainment industry. The plan was to build a music catalogue in Asia, to furnish for use in tv shows, films ads etc.. worldwide.
Before my trip, I drove from LA to Florida so I could buy a property to rent while I’m overseas and live in during the autumn months. I’ve always loved Florida in the fall, and I found a four bedroom house with a pool that could be had for $1,000/month LESS than what I was paying in California rent.
After making some much needed repairs to the property I posted it on Air BNB. After two days online I got my first booking. Who the heck were these people and why did they want to rent my house? It’s a question I often repeat to myself.
The property was booked for Thanksgiving. Then Christmas. Confidence increased that the house would pay for itself via these bookings while I was overseas.
I made the property unavailable new years eve, as I wanted to sit in the back yard and reflect on the past year, and to look forward to a bright and vibrant 2020 in Asia.
The next afternoon, the SCMP mentioned a “mystery pneumonia” in Wuhan.
What happened next was a crash course in property management. Thanks to Governor DeSantis, Florida was back open for business after a brief lockdown. Guests from all over the country were coming to Florida. Vacations, family reunions, kidney transplants — you name it.
At some points, I was receiving two to three bookings PER DAY for summer 2020. Most people stayed 2–3 nights. Others stayed for weeks on end.
A diplomat from the UN stayed in the property, followed by a group from South Florida who clogged the toilet so badly poop was coming from the shower drain.
Then football season 2020, followed by Thanksgiving and Christmas.
I was preparing for the constant bookings to abate, but they kept coming. The key is staying TWO steps ahead of the competition. They have pools, I have the biggest heated pool in town. They don’t have hot tubs, I have hot tubs, fake grass and a pergola.
The trick is to add a little Hollywood pizzaz to Florida function. Here’s a lil chart to illustrate my point — using a fireplace as an example.
In late 2021 a 4/2 pool house was for sale a block away from Air BNB #1. More cats than people lived there, so the place needed a DEEP cleaning and some minor repairs. Other than that it was good to go.
Since 2020 I’ve held the thesis that demand was high enough for my property to be rented twice over.
We picked up the property and sure enough it started to get bookings. We caught the last two games of UF football season, then the holidays into the new year.
Demand since 2021 has only increased, where I have a small waiting list of people wanting already-booked properties for specific dates.
As of April 2022 we have three Air BNB properties with one more on the way. These provide a nice supplement to my music royalties — and I’m sure one day it will be my music royalties providing a nice supplement to my short term rental property income.
