Matthew Varga | AIRBNB FINANCIAL BREAKDOWN | How to Make Money on AirBnb @MatthewVarga | Uploaded May 2021 | Updated October 2024, 3 minutes ago.
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AIRBNB FINANCIAL BREAKDOWN | How to Make Money on AirBnb
Welcome Back to my channel, Matthew Varga here. I am really excited for todays video! I am going to be doing a Full Financial Break Down of our First Airbnb Property. I actually thought I was not going to be able to film this video for a few months until we got Bookings, but we actually were booked up for 3 months Solid within the First 10 days, which is Crazy!!
So here is our Initial Investment for This Property to set it Up :
First Month Rent- $3,700
Last Month Rent- $3,700
Furniture- $14,076.00
Consumables- $500.00
Furniture Assembly- $840.00
Set Up/ Cleaning- $325.00
Internet Set Up + 1 Month- $134.36
Total Set up Costs- $23,276.12
Okay so now for the Fun part, lets break down the Monthly Revenue and Expenses to see how much we are making on this Property!
So as I mentioned earlier we are Pretty Much Full Booked up for April, May, June, and the Upper Unit is book for all of July. Now since this was a new booking we did offer lower Nightly Rents to get the first bookings in so we could build up a track record with these suites and start getting reviews. Also we provide discounted rates for people who did longer term bookings so the rates we have are quite a bit lower then what the rates we will eventually charge for these suits.
Lets Break down the Month of May:
May - Lower Unit Booked for 50 nights. -
Total Payout - $4,304 after fees = $86.08 per night.
$86.08 x 31 nights = $2,668.48 for the month.
This includes Monthly Discounts discounting the down from $140 per night..
Upper Unit Booked for 93 nights-
Total Payout $9,148 after fees= $98.36 per night
$98.36 x 31 nights = $3049 for the month
This includes large discount for long booking and new listing from $160 per night
Total Collected for May- $3,049 + $2,668 = $5,717 Rent
Total Costs for May - $3,700 rent + 120 Electricity (other Utilities Included) + $78 Internet + $50 Consumables(toilet Paper, shampoo, soap) + $100 (lawn Care/Snow removal) = $4,048
Total Profit for May $5,717 - $4,048 = $1,669
So for our First Full Month of running this listing we will make $1,669 for the month.
Here is a quick Breakdown of what August could Potentially bring us in profit if we were able to get our Full Rates for the Whole Month.
Potential for August with Full Rates= Lower $160 Upper $ 180 31 days in August
Total Potential Revenue $160 + $180 = $340 x 31 days = $10,540
Total Expenses = $3,100+ 120 Electricity (other Utilities Included) + $78 Internet + $50 Consumables(toilet Paper, shampoo, soap) + $100 (lawn Care/Snow removal) = $4,048
Total Potential Profit= $10,450 - $4,048 = $ 6,402
Obviously, this is a best case scenario situation. But even if we get close to fully booked for August we have the potential to have an amazing Month!
Other Places You Can Find Me
Instagram- instagram.com/matthew_varga
*This video is not sponsored. All opinions expressed are my own. I sometimes receive products for free from brands for consideration but will disclose when videos are sponsored and I am getting paid to talk about the brand/products mentioned. Thank you for support.
Book your One on One Coaching Call and let me help you move towards Financial Freedom- bit.ly/38BNO2H
FREE Airbnb Beginners Guide- bit.ly/3nSMik8
FREE Real Estate Investing Checklist- bit.ly/3fRdSd9
FREE Budgeting Guide Download- bit.ly/3tWWP1I
AIRBNB FINANCIAL BREAKDOWN | How to Make Money on AirBnb
Welcome Back to my channel, Matthew Varga here. I am really excited for todays video! I am going to be doing a Full Financial Break Down of our First Airbnb Property. I actually thought I was not going to be able to film this video for a few months until we got Bookings, but we actually were booked up for 3 months Solid within the First 10 days, which is Crazy!!
So here is our Initial Investment for This Property to set it Up :
First Month Rent- $3,700
Last Month Rent- $3,700
Furniture- $14,076.00
Consumables- $500.00
Furniture Assembly- $840.00
Set Up/ Cleaning- $325.00
Internet Set Up + 1 Month- $134.36
Total Set up Costs- $23,276.12
Okay so now for the Fun part, lets break down the Monthly Revenue and Expenses to see how much we are making on this Property!
So as I mentioned earlier we are Pretty Much Full Booked up for April, May, June, and the Upper Unit is book for all of July. Now since this was a new booking we did offer lower Nightly Rents to get the first bookings in so we could build up a track record with these suites and start getting reviews. Also we provide discounted rates for people who did longer term bookings so the rates we have are quite a bit lower then what the rates we will eventually charge for these suits.
Lets Break down the Month of May:
May - Lower Unit Booked for 50 nights. -
Total Payout - $4,304 after fees = $86.08 per night.
$86.08 x 31 nights = $2,668.48 for the month.
This includes Monthly Discounts discounting the down from $140 per night..
Upper Unit Booked for 93 nights-
Total Payout $9,148 after fees= $98.36 per night
$98.36 x 31 nights = $3049 for the month
This includes large discount for long booking and new listing from $160 per night
Total Collected for May- $3,049 + $2,668 = $5,717 Rent
Total Costs for May - $3,700 rent + 120 Electricity (other Utilities Included) + $78 Internet + $50 Consumables(toilet Paper, shampoo, soap) + $100 (lawn Care/Snow removal) = $4,048
Total Profit for May $5,717 - $4,048 = $1,669
So for our First Full Month of running this listing we will make $1,669 for the month.
Here is a quick Breakdown of what August could Potentially bring us in profit if we were able to get our Full Rates for the Whole Month.
Potential for August with Full Rates= Lower $160 Upper $ 180 31 days in August
Total Potential Revenue $160 + $180 = $340 x 31 days = $10,540
Total Expenses = $3,100+ 120 Electricity (other Utilities Included) + $78 Internet + $50 Consumables(toilet Paper, shampoo, soap) + $100 (lawn Care/Snow removal) = $4,048
Total Potential Profit= $10,450 - $4,048 = $ 6,402
Obviously, this is a best case scenario situation. But even if we get close to fully booked for August we have the potential to have an amazing Month!
Other Places You Can Find Me
Instagram- instagram.com/matthew_varga
*This video is not sponsored. All opinions expressed are my own. I sometimes receive products for free from brands for consideration but will disclose when videos are sponsored and I am getting paid to talk about the brand/products mentioned. Thank you for support.
