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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