Imagine yourself on a 30 story building with two elevators. One elevator has a really thick cable and the other has 10 small cables. Between the two elevators is a sign that says: Caution-We are aware that one of the cables is weak and will break. Please choose wisely. So, which elevator will you choose?
Why do people choose to only have one source of income? If the risk is there that you could lose your job, your ONLY source of income, why not hedge against risk and have multiple sources of income. Having multiple sources of income is like choosing the elevator with 10 cables. If one of them breaks, who cares. You still have 9 to keep you from plummeting 30 stories to the ground.
I was recently talking to my daughter’s piano teacher. She began talking to me about their multiple sources of income. I was SO proud of them for being so wise. Her husband has a job, she teaches piano and works part-time in retail, and they are renovating their basement to rent out. I was totally intrigued about the last project. She mentioned that they were going to do an Airbnb. I had never heard of that before. Call me sheltered, if you must. So, I did what anyone would do that knows nothing about a subject, I googled it.
I couldn’t believe how cool this site was for travelers wanting to experience local scenery. It is like having a hotel in your own backyard. They have had over 150 million guests book through their site. As a small time landlord or hotel owner, you would have access to the website traffic that Airbnb generates. Plus, your advertisement is displayed professionally through their website, big bonus, your guests book through the site and Airbnb takes care of all the money. It’s like having a hotel partner and all you have to do is provide a place for the guests to sleep.
There are some really unique homes available on Airbnb, like this Seashell Home. Can you imagine staying at a place like this instead of a boring hotel? If you don’t like the Seashell Home, then consider the Secluded Intown Treehouse. These people are utilizing Airbnb to create multiple sources of income.
So can you.