363: How to Start an Airbnb Business in a Brand New Market w/Melanie Wilmesher

Want to know how to start an Airbnb business? If you find the right deal and build an all-star team, you could squeeze a TON of cash flow from just one rental. And we’ve got the perfect guest to show you the ropes!

Welcome back to the Real Estate Rookie podcast! Today, we’re joined by former ninety-day mentee Melanie Wilmesher. Since we last spoke with Melanie, she has added a short-term rental property to her portfolio—this time, in an entirely different market! In this episode, she shares her biggest struggles and lessons learned from investing out-of-state. While one destructive house party left her with $4,000 in damages and nearly derailed her Airbnb investing strategy, Melanie credits her trusted team for getting the property back up and running in no time.

While short-term rentals can be wildly profitable, running them is not always a breeze. Melanie shares the highs and lows of her journey so that you can know what to expect in any situation! You’ll learn how to deal with bad reviews, find a great property manager for your rental, create the best possible guest experience, and more!

In This Episode We Cover:

How to start an Airbnb business that gives you more cash flow in 2024

Melanie’s biggest lessons learned from owning short-term rentals

How to deal with bad reviews you receive on Airbnb

Creating the ideal guest experience that gets you MORE bookings

Critical steps to take before buying a property “sight unseen”

Building your dream short-term rental team through networking and referrals

Why you NEED a top-notch property manager for out-of-state investing

And So Much More!

Links from the Show

Find an Agent

Find a Lender

Ashley's BiggerPockets Profile

Ashley's Instagram

Tony's BiggerPockets Profile

Tony's Instagram

Real Estate Rookie Facebook Group

Join BiggerPockets for FREE

Ask Us Your Investing Question

Apply to Be a Guest on the “Real Estate Rookie” Podcast

The Step-by-Step Guide to Finding the BEST Off-Market Real Estate Deals

How I’m HELOCing My Way to Wealth

Should I Fix My Credit Before Attempting to Invest in Real Estate?

Rookie to Real Estate Investor in 90 Days: LIVE Mentorship Calls

3 Steps to Start Investing in Real Estate + 2024 Mortgage Rate Predictions

Books Mentioned in the Show

Real Estate Partnerships by Ashley Kehr & Tony Robinson

The Intention Journal by Brandon Turner

Short-Term Rental, Long-Term Wealth by Avery Carl

Long-Distance Real Estate Investing by David Greene

Start with Strategy by Dave Meyer

Connect with Melanie

Melanie's BiggerPockets Profile

Melanie's Instagram

Melanie's LinkedIn

 

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-363

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