A property investor in Boulder who went from a college student with zero savings to financially independent explains how she used Airbnb as 'real-estate training wheels' to get started
Zeona McIntyre assumed real-estate investing was out of reach for her because of the upfront costs.Eventually, the money she made doing short-term rentals helped her afford her first property.first heard about it through a friend who managed to fund a year's worth of travel by renting his New York City apartment on the platform.
McIntyre already had a roommate to help subsidize her own rent. But when that roommate moved out in 2012, rather than finding another one, she decided to list the space on Airbnb. She figured,"if it doesn't work I'll just get another roommate. It's not a big risk for me and I already have the furnishings, towels, and sheets. Why not?"
That's when she took out her first loan, she said:"I borrowed $4,000 from my dad and that was enough for a little bit of furniture and a security deposit." However, she didn't necessarily have the track record to qualify for a mortgage, since she didn't have a traditional job:"Back then, Airbnb income wasn't seen as income. It was still too early and people didn't know what to make of it."Courtesy of Zeona McIntyre
For the apartment she was already renting,"I was paying around $1,100 a month between my rent and my utilities and making between $1,700 and $4,000 a month depending on the season," she explained. When she ran the numbers on the investment property ,"it was going to cost around $950 with my mortgage and HOA. So I felt really confident and that gave me the ability to go out and actually do it.
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