I have an 8 year old and am planning to launch my airbnb next month. However, mine is a basement apartment/mother in law suite situation, which has its own outside access and is separated from the rest of my house by a double-keyed deadbolt.
Once I break even on the initial setup cost (see Friday estimate/Monday check in on that $$$$) I will be using the funds to pay down debt. I don’t live in a major city like Seattle so I’m shooting for 25–30% occupancy. I would think that ‘financing the dream business’ depends on whether you can afford your mortgage without the airbnb funds. I think the question is if you bought a house within your means and are using it as a second income stream, vs buying a house outside your comfortable affordability with the idea of using the airbnb money to fill in the gap. I can afford my house with or without the extra money, which is why I am counting it as “extra” money.
There is certainly the time investment, too. That has value.
My town is a little behind the curve on this so I don’t have to sign up for a business license, collect lodging or sales taxes, or anything like that. I do have to get the property inspected by the city but that’s $60 for 3 years.
My boyfriend is still raising his eyebrow at me on this but if I have the space and it’s sitting empty, why not use it?