AirBnB planning

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It's so fascinating to look at housing postings now. I get so excited! I told my family about the paper clip challenge. They like how fun it is. :)


Alright so a little bit of AirBnb planning:

  1. Assess
    1. What is my target market? Likely young professionals in town for business or traveling to see friends. Oh! I wonder if I could target the populations that come to the area for ski/snowboarding? 
    2. Cost for me? Unsure, still figuring it out. Likely $2,000 to $4,000 to start off. So, after my trip to Japan with my dad.
    3. How long to break even? Likely 7 mo, if I had someone renting for $40/night and 3 nights a week. 
  2. Create a Legal Entity (LLC) approx. $50/mo
    1. Why though?
  3. Register for taxes (EIS) approx. $50/mo
    1. Why though?
  4. Business bank account ($10/mo)
    1. Keep separate - better for taxes
  5. STR Permits/Licensing
    1. Building and Development Desk at City Council
  6. Business Insurance
    1. Cleaner's
    2. Renter's insurance (the renter's guarantee on AirBnB doesn't cover a lot) Renter's insurance would cover lost/damaged goods. 
  7. Action Plan! 
    1. Are there any places in Boise that let you sub-let an apartment? I'd like to check WhiteWater Apartments
    2. Should I rent or buy? Because I don't know where I'm going to be in 1-2 years, it'd probably be best to rent. 
    3. What's the difference from sub-lease vs. sub-let? Same thing.

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