You May Not Control All The Events That Happen To You, But You Can Decide Not To Be Reduced By Them.

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Rent Out That Extra Space And Make More Money

Have you recently purchased a new home with a little extra space? Or have your children grown and you now some extra rooms available in your house? Don’t let that unused room go to waste – rent out the space on Airbnb and make some extra money!

How involved this process is will be completely up to you. You can choose to do it sporadically and, because it’s not your main source of income, you can be selective of the renters who you choose to let into your home.

If this is something you have given thought to in the past, here are some tips for making the most of your experience:

1. Hosting Etiquette

If you do pursue this route, there are some added responsibilities that you will take on as a result. The more exemplary Airbnb hosts aim to make their renter’s stay as special and personalized as possible. Introduce yourself, make sure the area they will be staying in is tidy and equipped with the necessary essentials, and be prepared with recommendations of restaurants and attractions they should visit during their stay. Other than that, you don’t have to be any more involved unless they would require something of you.

2. Be Transparent

This is your home, so be honest when you are posting your listing on Airbnb. Be transparent of exactly what you want from a guest who will be renting a portion of your home. If you want there to be a certain period of time from evening to morning where volumes should be kept at a minimum, for example, be sure to mention that. If you are committed to enforcing a variety of rules, you will weed out renters that may not be a good match for you just through being honest. If not, you risk having situations arise that cause conflict between you and the other person.

3. Research Your Renters

You have every right to be as selective as possible in your choices. Do some research into the guests who are interested in renting your space, including their previous stays and their profile details. You can also reach out and ask them their intentions during their stay to get a feel for whether or not it would be a good fit for you.

4. Rent During The Right Times

If you don’t want to rent out your space frequently, you can wait for busier periods. If you live in a more popular area, wait until there will be a special event near you to post your listing. You can even charge more during these times as well.

Whether you decide to rent infrequently or on a more regular basis, it is still a great source of additional income!

Originally published on David Taran’s Wordpress.

Networking And Why It’s Important For Real Estate Investors

Networking isn’t just for amateurs or professionals with little experience. Even seasoned real estate investors could benefit from networking with other people in the industry. Connecting with other professionals doesn’t just mean going to networking events anymore. There are other methods for getting your name out there and forming rewarding relationships with other people that share a similar passion with you.

Set aside time to attend related conferences and events.

When people think of networking, this is what they picture: a mass of business professionals listening to a lecture followed by free time to mingle with one another and talk real estate. Participating in conferences, classes, and events are not only crucial in forming contacts with valuable, like-minded individuals, they are also an opportunity for you to expand your knowledge of the industry, keeping up-to-date with the latest real estate trends and news. Stronger connections are generally formed in face-to-face interactions when you have a chance to show your personality.

Build and develop a strong online presence.

Physical interactions during networking events are important, but they aren’t the only way to build connections. Now that we live in a world run by technology, it’s imperative that you build a strong online presence as well. If you already have one, continue to develop it. This is just another place where professionals, clients, and prospective clients can get in touch with you.

Be present within your community.

At the heart of real estate investment is your community, so one of your main priorities should be becoming as personally involved within your community as possible. Consider becoming a key member of a local charity or organization. Take up space in various indoor and outdoor spaces and socialize more with active members of the community. Showing that you are invested in your neighborhood will increase a person’s trust in you, which will lend itself to increasing word-of-mouth referrals.

Become active in clubs.

Networking at conferences and events is one thing, but joining a stable, more long-term organization has its benefits as well. Consider joining some kind of real estate club. Because these individuals all share similar goals as you, it is a great way to meet people and form meaningful relationships. Many investors find mentors through these clubs and, then, eventually become mentors themselves.

Get your name out there on both a local and national level by becoming a networking pro. It is all about participating in events and building connections with other individuals both in person and online.

How are cities keeping up with the fastest growing industry in America?

http://davidtaran.co/blog/

To Buy Or Not To Buy: That Is Every Renter’s Question

“Should I rent or buy?”

If this isn’t a question you have asked yourself yet, it’s at least a question you have heard debated many times. There is definitely useful information to obtain from both sides, but it really comes down to your specific life situation.

There is nothing wrong with wanting to buy a home, just as there is nothing wrong with choosing to rent instead. Don’t let anyone push their opinion on you just because something else makes more sense for their situation. 

Here are some things to consider when determining if you should rent or buy:

Does it make sense for your budget?

Would a home be your main investment?

What are the opportunity costs of renting vs. buying?

Learn more by reading the full post on David Taran’s website.

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