House hacking through Airbnb

Airbnb 1 Airbnb 2

Hello Discover Northeast Florida!

I was initially hesitant to post this as I was contemplating whether this is a success story yet, but I'll let the world to decide. I'm sure everyone has a story, and here's mine.

About me- I'm an engineer by profession and based out of Indianapolis. I bought my primary residence 2 yrs ago and I've had spare bedrooms so I decided to give Airbnb a try. 

I've had an out of state investor from California stay with me and we got talking about investments ( that's my fav topic) and that's how I came across Bigger Pockets. He suggested my rental to his investor friends and I got more and more folks to stay with me. (Look me up in Indy airbnb - Mihir & Amber)

Long story short, doing airbnb on my primary residence has not only helped me connect with great minds, socialize and share stories and give me a chance to host some wonderful folks, but it also helped in mortgage payments, provide additional cash to invest in rentals and also provide tax breaks. 

Though airbnb-house hack isn't for everyone, I'd like to point out the benefits.

1) Higher rate of return than a monthly rental.

2) Flexibility on whether to host or block dates.

3) Help with mortgage payments.

4) Re-invest additional cash in home improvement which helps in appreciating property value.

5) Tax Benefits

Here's a snippet of how I used the spare change to renovate the family room( pardon my poor photography skills). I'm not sure if this is the best strategy for everyone, but this is A STRATEGY that folks can try. I'm interested to hear your thoughts!

Enjoy & Good Luck!

Mihir Bhimaraju

PS: I highly recommend visiting Indy. ;)

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