The Decision to be made: To built a tiny house or not
Greed Motivation: The return is crazy. in the north of 25% per year
Fear Factor: Never built one before., new venture, no prior success story, no mentor
Logical Sense: People might like and I can make money out of it it if I think I will just enjoy it myself
Why Do you want to make this decision: Looking for a new way to increase cash flow since traditional long term rental is getting a hit right now because of property tax.
Describe the Surrounding: very supportive spouse who studies tiny house building all day long
Anyone pushing you to make the decision? Not really, it just me trying to do something new
What will you do if everything works out: find a way to scale and hand off the model
What will you do if shit hit the fan: Move it? maybe
Have you done your due diligence: I got excited and forgot there are some noisy people in my neighborhood. I am learning a lot of lessons right now as I type this. note to self: next time, take a step back and look around a little.
How do you feel: Excited! I don’t know. I just like the idea of the tiny house, it’s cool!
What is some reason to say NO to this deal: Neighborhood restriction, noisy neighbor, etc.. Thankfully my direct neighbor is awesome
Describe some way to mitigate this risk: Have a good legal team on your side, study the deed, study your opponent. Like Confucius said: “Know yourself – know your enemy – win 100 battle”
Could this be a life-changing decision: YES – it opens up a whole new bucket for cash flow
Why are you not rich yet then? Gotta be able to scale this thing. Cleaning is the big hurdle for STR
Looking back: Do you regret making this decision?
Not a chance, Every time I put a smile on my guest, my purpose is fulfilled. we helped hosted many wonderful people and traveler from all over the world. There is nothing that is going to stop us from scaling out the business to help more people and be the advocate for protecting private property right
In The pictures:
One of in many of my awesome guest! She came all the way from Germany, staying with us while performing for a big circuit here in the US. she gave us tickets to go see her performance and it was AWESOME!! It was an honor to host such wonderful people doing wonderful things in this world!