About

  • Full-time Mom to triplet boys
  • Makes over $50K annual income in Vacation Rental business
  • Launched a business Hosting International Students
  • Short-term rental Airbnb Hosting provides multiples of hosting income
  • Favorite author and book: “Eat, Pray, Love” by Elizabeth Gilbert

Background

Roxana Andreu, a graduate of Boston University, began her professional career working for Fidelity Investments.  For over a decade she worked full-time as a product manager for Fidelity and other banks before transitioning into the health care industry, supporting financial applications.

Twelve years ago, Roxana and her late husband bought a vacation house in Cape Cod.  In need of renovations, they decided to rent it for a while to raise the funds.  This quickly grew into a real business, consistently producing a yearly income between $45K and $55k.

After her divorce and the sudden passing of her ex-husband, she was left to raise three triplet boys on her own.  With an extremely demanding corporate career she knew she had to look for other options.  A friend suggested hosting international students in her home, which she has been doing for five years now.  She also became involved with Airbnb and found it highly lucrative bringing in significantly higher hosting income.  Roxana is now fully dedicated to running and expanding her hosting and rental businesses in the US and expanding into South America.

Show Notes

  • Roxana’s early corporate life [1:35]
  • A change in family structure and the need to do something more [3:50]
  • The business ventures she began while in school [6:40]
  • The fears that drove her into a corporate career instead of her own business [11:00]
  • How she turned a vacation home into a side business [13:00]
  • Expenses of owning a vacation rental [15:25]
  • Benefits of having a property manager [17:20]
  • Surviving declining property values and an economic downturn [21:00]
  • The conversation with a friend that led to hosting international students [26:00]
  • How to find and select students to host [31:00]
  • As a host, what are your obligations to the students [36:22]
  • Hosting international students vs. Airbnb guests [43:40]
  • What she learned from her first Airbnb guests [45:30]
  • Selecting the right people to host in your home and the guests with whom she has had the most pleasant experiences [47:45]
  • The importance of references [54:30]

Tips

  • When your life and needs change, you have to create a new way to make money [8:45]
  • Don’t let the fear of public perception and expectations stop you [11:00]
  • Establish a client list of guests who return each year [13:00]
  • This is not a short-term commitment, it’s important to have a long-term view [23:10]
  • Ensure you can afford to continue even in hard times [24:10]
  • Be selective about who you host, ask questions and share expectations to see if they are a good fit for your home [47:45]
  • Be available for your clients [51:45]

Contacts and Links

To contact Roxana, please email Ike at the address listed below

Listen to the Show

The Side Business Show

Ike AT TheSideBusiness.show