Airbnb is an online platform that allows you to rent a room or a house almost anywhere in the world.
It also allows you to list your own room or house, and welcome visitors from all over the world.
This is exactly what Darrel and Patrice Maxam did, and now they make over $700,000 a year from their Airbnb properties in Atlanta, Georgia.
The married couple began their Airbnb empire in 2015.
They bought a house for $250,000 intending to live in the house and make it their home.
The down payment for the house used up all the money they had.
“We had $1,000 in the bank between us,” Patrice told YouTuber Shelby Church in a video about the couple’s Airbnb properties.
They decided to try renting out rooms in their house to help pay their mortgage.
While many members of their community, including their friends, frowned upon renting out their rooms on Airbnb, they went ahead with their decision.
After having “some really cool and some really weird guests,” they wanted to move away from renting out rooms, and instead rent out the whole property.
They began renting out their whole house, which was more lucrative.
After awhile, they began to think about renting out smaller places that would be able to command the same dollar.
Today, they have eight Airbnb rentals on their property.
Their first unit was their original home.
They added lots of plants and a solarium to make it a bright and cozy space.
Then they built their first tiny home.
It took them a $65,000 loan and eight weeks to complete construction.
Fortunately, the tiny home was featured on HGTV’s Tiny House, Big Living show and this caused the demand for the tiny home to skyrocket.
The tiny house became fully booked for the next nine months, and they made $2,500 to $3,000 a month.
Thanks to this, they were able to pay off their loan quickly.
This project was their first foray into tiny houses.
After the success of their first tiny house, they built another barn-themed tiny house using a shed that was already on their property.
Also, it was a ready-made shed from Home Depot.
This tiny house cost $16,000 to build and has a total area of 256 square feet.
They reached their return on investment on this tiny house in only four months.
After this, the Maxams knew they were on to something.
They took out a bank loan and built units 3, 4, and 5 on the property.
These units form a triplex. Each unit has a different look and feel.
Unit 3 is more masculine, industrial, and uses darker colors and lots of wood inside.
Unit 4 is farmhouse chic, and Unit 5 is more bohemian.
They wanted to create something for everybody.
Another unique feature of their properties is that they use a lot of up-cycled materials.
For example, the wood in one unit is made from a boat ramp that was on the property, while another unit uses wood they got from a slave plantation in Georgia.
Each of these three units generate about $3,000 a month in income.
The Maxams have a philosophy they follow when it comes to building and spending on their properties.
The philosophy is that they must ROI on a property in 18 months.
Their next unit was bolder and bigger because they wanted it to generate more income.
They decided to make a treehouse and it was the first treehouse property in Atlanta.
Darrel did a lot of research to build it from scratch (he builds all their properties) and it was a labor of love.
While the house is technically a house on stilts, the staircase going up wraps around a tree, which gives it a treehouse vibe.
The treehouse rents out for $400 to $500 a night and generates about $10,000 a month.
Inside, Patrice envisioned it as an ideal space for a bride getting ready for her wedding.
The interiors are very vintage, feminine, and use a lot of pink and creams.
The treehouse is very photogenic, perfect for bridal photos before a wedding.
This treehouse took Darrel 55 days to build and cost $128,000.
In 2021, the treehouse made $168,000 in revenue and was set to make over $200,000 in 2022.
Next, they added two more unique treehouses to their property.
One is a converted bus.
After they acquired the bus, it was parked for three years before they used it for this treehouse.
Now, it’s the 14th most popular Airbnb on Airbnb Unique.
This treehouse is also included when you rent the main house.
Take note that the bus doesn’t come with its own bathroom or kitchen.
The final unit on the property is funky, geometric, and made of tin.
It is the smallest treehouse, but it makes up for it with lots of decor and personality inside the house.
Darrel builds all the properties himself, and Patrice decorates them herself, sometimes with the help of their children.
Their tiny homes also have tiny expenses.
For all eight properties, they only spend a little under $2,500 for monthly expenses.
Last year, they made $700,000 and they have no debt to anyone except to themselves.
Now, they are expanding beyond Atlanta.
Their goal is to build a global brand of treehouses, and their recent project is purchasing 40 acres of land in upstate New York.
They will build 10 new structures and a large wedding barn on the property which can accommodate hundreds of people.
The Maxam’s story is truly incredible and worth sharing.
They serve as an inspiration to others who want to go out of their comfort zones and create something special.
Watch the house tour of these Airbnb properties in the video below!
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