He started doing rental arbitrage and has since set up 25 Airbnb units that bring in up to $88,000 in monthly revenue.Nathan Turner used to trade a lot of time for a"After taxes and everything, I might only bring home $600 a week," the former delivery driver told Insider."If I did overtime, I might bring home $700 to $800 a week, but that was after working 50 hours."While he lost his job, he gained back time to figure out his next steps.
The Turners also operate an Airbnb cleaning business. Between their rentals and cleaning service, they're bringing in tens of thousands of dollars per month. According to their bank statements from December 2022 to April 2023, which Insider reviewed, they brought in anywhere from $18,000 to $88,000 per month. December 2022 has been their highest-performing month so far because of a spike in travel for the holidays, said Turner.
They had to put in a lot more hours in the first year of the business. Finding and setting up properties used to take them much longer, noted Turner:"We were overthinking it and worried about what the guests would think so we were trying to make it as perfect as possible." Turner shared three tools he uses that helps him operate 25 units and manage a team of 10 employees — seven cleaners and three virtual assistants — while only working up to 15 hours per week. One of the early challenges Turner ran into was figuring out how to properly price his Airbnb units. He didn't know how to set competitive rates, he admitted, and it cost him money early on.