[USER]

I have a question about what’s ‘enough’ and what I need to concentrate on.

Currently, I have my own business, and I’m earning about 25k a month from it. I work 10-15 hours a week, and love my business very much- it’s continuing to grow, and I project that by the end of the year I will be earning 30-40k a month.

I also have an Airbnb side hustle that brings in 1.5k-3k a month. I do have cleaners for it, so it doesn’t inconvenience me too much. It pays our mortgage fully.

PS: the Airbnb is not a property I own- it’s just a building on my property that I otherwise just use as a guest house.

But, I’m wondering if I have ‘enough’ from my business and I should just let go of the Airbnb. Because even it’s a minor inconvenience, I do still have to check my messages, and sometimes things go wrong.

So I’m having a hard time letting go of the easy extra money, but I wonder if I should concentrate on my thriving business instead. And as my business continues to earn more and more, the amount earned by the Airbnb seems so trivial in comparison.

What would you do??

[Nicole]

You can always try out not doing airbnb for a while and if you miss it pick it back up. That’s the great thing about a solid side hustle. Alternatively, you could just do Airbnb during the most profitable 6 months of the year and not do it all year long.

[Barry]

Totally individual decision, but I’d let go of the Airbnb and focus on the business which a) is way more lucrative, with the potential for growth and b) you actually love. Why waste any energy at all on something that can be even a minor headache? Only you know if you have enough, but in my world, that would be way more than enough. I’d be figuring out ways to give it away…

Well done. Hope you get it sorted soon.

Proposed: Has anyone quit their job without a backup plan? Any advice or regrets?

[Kristina]

What could you do to automate the Airbnb and how much would that cost you? If you hired a vA to take care of the little things and be on call, could you get it down to 30 minutes a week? Even if you just have guests stay there occasionally, you would still need to clean it, etc, so it might be nice to have that system automated.

Also, it increases the value of your property to have a proven record of guests.

[Tim]

Given your scenario, the only reason you should keep the short term rental is if you plan to build a real estate / rental business, which would one day be turned over to a property manager, thereby diversifying your portfolio.

[Bill]

Sounds like your business is a better return on your time and effort.

I still think it is wise to expose yourself to real estate for the scalability, tax benefits etc. But I would think it would make more sense to sell the Airbnb, convert to long term rental and/or hire a PM.

Focus the time and effort into your business and park money in relatively low risk and low headache real estate like industrial, a syndication, turn keys etc.

[Michael]

Focus on what’s working the hardest for you. If the Air BnB is a distraction, dump it.

[Josh]

Truly only you can decide enough for you. But sure seems like you want to simplify and scale back your active involvement in side hustle/Airbnb. I’d go with that instinct.

[Abigail]

I used to do a few different things for income and found it easier to pick one and focus on that.

I agree with others that only you can decide but if it were me and I didn’t need the money, I would let the Airbnb go.

Read on: Should we move to Boise, ID for a $100k job with better weather and a small-town feel?

[Sadie]

Following. Similar income from our online business (and working similar hours) but really wanting to go harder at stocking up my retirement.

[Priscilla]

I would vote keep it to diversify, but as someone else said, do Airbnb during prime time and take a break during the off peak to give yourself a break.

Is it an option to rent it as a long term rental instead or a furnished extended stay home? Do you have any repeat guests that you could just rent to them?

You really can’t go wrong with either direction you go. Sounds like both options are appealing to you.

[Ella]

I would definitely keep it! 1.5-3k is a pretty good cash flow in my books. Just make it work, hire a virtual assistant if needed.

Ps: I understand you. I own my company and make more than what you project to make per month. I’m actually looking to add STRs in the mix, because let me tell you even (or especially) when you love your business, eventually it can wear you out! It’s very nice mentally to know the business is not the only source of income long term.

[Author]

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