Chris Broomfield’s success story began when he purchased a five-acre property in 2015 with plans to build multiple cabins for Airbnb rentals. His treehouse cabin, suspended 14 feet in the air with stunning views, has become one of the most sought-after properties in Remsen, New York.

Since 2018, Broomfield’s Evergreen Cabins business has generated over $2.1 million in revenue, with nightly rates ranging from $380 to $700. Despite his success, replicating his path may not be easy due to various factors like location, competition, and regulatory changes in the short-term rental industry.

While platforms like Airbnb have made it easier to market unique properties, success in the rental industry is not guaranteed. Factors like occupancy rates, borrowing costs, and regulations can impact profitability. Broomfield’s success was influenced by low land cost, construction experience, and creating standout properties.

For investors considering rental properties, it’s crucial to analyze local demand, costs, regulatory environment, financing risks, and financial safeguards. Broomfield’s story emphasizes the importance of research, financial security, and hands-on effort in achieving success in the rental business.

Broomfield’s journey showcases the potential of short-term rentals, but also underscores the unpredictable nature of the industry. To succeed, aspiring investors should carefully evaluate risks, run conservative numbers, and ensure financial stability before venturing into the rental market.

Read more at Yahoo Finance: This man built a treehouse, rents it out for up to $700 a night. How his unique idea became a successful side hustle