Extra Cash: Internet Opportunities and Traditional Investment
Making extra money is a common theme among adults in all stages of life. The connectedness that the Internet provides can make it easier to amass savings or vacation money, but there are also risks involved.
One of the more popular and well known Internet entrepreneurial opportunity is Airbnb. It can be so easy. Post that spare room as a lodging option for travelers. Clean the sheets, put a mint on the pillow, and earn a little extra money.
Although Airbnb is easy enough to set up, renters and tenants create a risk simply by being on your property. If they get injured during their stay, you are potentially liable. Not only can you be liable for guest’s injuries but for any damage that may be done to surrounding properties, theft and other illegal activities. Not to mention, most homeowner’s insurance policies don’t cover short-term rentals so if guests damage your property the expense to fix it is all yours. Airbnb does offer coverage, but because it’s secondary coverage you have to try every other avenue first.
There may be risks, but Airbnb can be a fun way to make a little extra cash. You get to play hotel manager for a weekend or so, and you can meet some really interesting people. If you decide to take the rewards over the risks it’s a good idea to at least prepare yourself for possible issues. Speaking with a qualified insurance professional or investment expert is a great way to cover your bases. http://hackronym.com/wealth-solutions-insurance-and-other-considerations-when-renting-on-airbnb/
Richard Dwayne Blair is the creator of Wealth Solutions, Inc. He enjoys helping clients meet their financial goals, and he can help you decide if Airbnb is a smart option for you. Blair can also help you look at other investment opportunities so you can keep building your extra cash stash.
Blair and Wealth Solutions, Inc. offer many services to jumpstart your investment plan. Blair has expertise in estate tax and planning, integrated financial planning, securities, asset protection, insurance, employee benefits, and more. Blair knows that financial planning is like a full-time job. It involves extensive research and an understanding of the market. Blair, with Wealth Solutions, will help clients with his understanding so clients can commit to doing a little less work toward their investment plan.
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