By now, everyone has heard of Airbnb. Similar to the gold rush, Airbnb has changed lives and made people wealthy beyond belief! The only question is, will you be one of those people?
Without a doubt, one of the best places to start is a resort community like Vail! There’s already a market just waiting for you to tap into. You may be wondering just how profitable it is…and we’re here to tell you.
Let’s say you have (or want) a 2 bedroom place, and you rent out the rooms individually. After just 1 year of being operational, you will have covered the average mortgage in Vail AND end up with additional 5 figures! Don’t believe us? Let’s break it down.
Your average mortgage is $1,500 per month, per bedroom, so you’ll be paying $36,000 a year (12 months x 2 bedrooms x $1500 each). The annual Average Daily Rate for Vail comes to $218 per room. Assume your place (on average) will be filled up 50% of the time it is listed and let’s assume you have it listed 365 days. That leaves you with ($218 per room x 2 rooms x 365 days x 0.50 occupancy) for $79,570. Subtract $36,000 from that and you have $43,750 left over–that’s $21,785 per bedroom! Now imagine yourself with a four-bedroom, or two four-bedrooms…plus on any of those days it’s NOT rented out, you can stay there. Free.
Still can’t believe it? Sign with Away Agents and we’ll walk you through the math.