How much did La Casita made in 2020

Income Prediction vs Reality:

Before we started La Casita, our income predictions were $1,500 to $2,000 a month. I talked about that in Episode 94 Lessons Learned From Building the New Airbnb La Casita.

In December 2019 we had been open for 15 days and we had earned $741, but that included some January income. In January 2020 it was $1,216.77 and for February 2020 we earned $1,410.75.

All hell broke loose in March with Covid 19 and we shut down La Casita after our March 17th guest left, so all we made was $758.54.

We were closed in April, and in May we only made $204.77. June was just a bit better at $336.78.  Our revenue for July was $845.16, and in August it was $911.89. In September we went back down to $671.24, but in October we did great at $1,003. 71. November was a 2020 reality-check: All we made was $787.15.

And finally, in December we went back up to $1094.26 but that includes a couple of days for 2021 because the guests left on January 3rd.

Airbnb paid out was $9,982.58 but they paid us for some cancellation fees of $473.98.

The total from December 2019 until December 2020 was $10,460. Remember we spent almost 15,000, so we’re still short $4,500 from our initial investment.

Would we have made a profit if Covid didn’t happen? Yes, I believe so.

My Expectations for 2021:

Puerto Rico has some very strict restrictions; as of January 2021, Puerto Rico’s beaches are open for swimming only. There’s no laying on the sand and sunbathing.

There is also a curfew. Oh yeah, you need to be home by 9 pm and on Sundays, you’re required to stay at home. No hanging out, no going to the stores, nope. Calabaza, calabaza todo el mundo en su casa.

There is also a weekend dry law until January 7th which could be extended again.

The San Sebastian festival, or as they call it, “Sanse,” is one of the biggest festivals in Puerto Rico. It’s usually held in January, but it’s been canceled for 2021.

Cruises are not operating and many places are just closed down.

I know the vaccine is here, but I think restrictions will continue until the summer of 2021. I’m going to do an episode about my predictions for the year, but I’ll tell you now that I don’t think 2021 will be completely a washout.

Do we feel La Casita is Worth it?

Yes, I do. Even though we haven’t recouped our initial financial outlay, Javier and I have talked about it and we both feel La Casita is a sound investment. We know that we don’t want a long-term tenant there since we sometimes use the place for ourselves.

I believe we will start making a profit in 2021, but it all depends on what is coming this year.

One of the reasons I wanted to do this episode is for you to realize that not everything in hosting is a bed of roses, but also not everything is horrible. Even as a host for over 10 years I’m still learning every day.

I hope when you go back and look at your numbers they’ll be a lot better than mine.