I used to talk about passive income. Passive income is a huge buzzword after The Four Hour Workweek became popular. Passive income is fabulous.
However, passive profit is even better. As a business owner (which Airbnb hosts are!) you have to think about income less expenses. There will be expenses related to running an Airbnb property, including consumables like toilet paper and soap, as well as cleaning related expenses too!
Now I talk about passive profit, which is even better than passive income. You too can create passive profit by renting out space on Airbnb.
My first year as a host on Airbnb I made $20,000 in passive income but only $8,000 in passive profit. This is your salary (less anything you invest back into the business other than consumables and services related to maintenance and running the business.)
Phrasing is so important. What you focus on is what can come true, so instead of focusing on passive income, focus on passive profit.
No matter where in the world you are, and no matter what you may be doing, passive profit is money that comes into your pocket without you having to do anything special at all!
How can someone create passive profit? It will take a little work to set up systems that will help your business (in this case, your Airbnb properties) function without you. Passive profit is true freedom. And AirB$B: Investor Style is an easy, brilliant way, to set yourself up a passive profit stream. You get a profit share check in the mail every month, and you don’t have to lift a finger.
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Image By 0x010C – Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=48830714