Julia Lemberskiy quickly realized after moving to NYC that owning a home was out of the question.She started looking outside of the city and is now financially independent from her Airbnb income.
Ultimately, Lemberskiy couldn't justify buying anything in NYC. Still, she's found a way to get into real estate and nowShe operates five Airbnb units across three properties and has consistently brought in over $10,000 in revenue each month in 2023 so far, according to a screenshot of her Airbnb dashboard viewed by Insider. And she's trending up: In March 2023, she brought in $19,828 in revenue.
The way she sees it,"you can't really go wrong if you buy something for $150,000 and it's a livable house. It's probably not going to go down in value." Whereas,"buying in the $1 million to $1.5 million range would make me very nervous, having that much money sitting in one property." If you don't want to manage the rental yourself, you can hire a property manager or use property management software tools like, the rental income"will subsidize your rent, or potentially even fully cover it, depending on what kind of property you buy," said Lemberskiy. After you've bought your first investment property,"you can rinse and repeat," said Lemberskiy.