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 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices