A YOUNG entrepreneur has claimed she was able to earn more than the average doctor makes in just one year, just from one side hustle she started as a teenager.
Not only has she been able to earn more than $50,000 a month, the entrepreneur claimed she did it all without a college degree.
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Inayah McMillan is a self-proclaimed entrepreneur who regularly shares tips and tricks on social media on how others can boost their business like she did.
McMillan, 21, revealed in a recent video posted to TikTok that not only has she been able to make a liveable wage through this side hustle – but she can earn more than a doctor at the same time.
While showing screenshots of the average wage of a doctor in the United States, the TikToker claimed that the medical professionals can earn an average salary of around $294,000 a year.
Meanwhile, in 2022, McMillian claimed she earned over $375,000.
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What’s her secret? Airbnb hosting.
When she was 19-years-old, one year after dropping out of college, McMillian said she decided to start hosting for Airbnb.
However, it wasn’t just through renting out her own home.
Instead, she decided to create her own rental business through rental arbitrage.
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“Rental arbitrage is where you rent a property from a landlord. And with their approval as long as it's legal in the city, you can list this property on short term rental sites like Airbnb VRBO or even Booking.com,” she explained.
McMillian said that after creating a company to run this business – with initial cash or business credit funding – prospective hosts can start looking for properties anywhere.
She specifically pointed to websites that list homes and apartments for rent, such as Zillow.
Next, she recommended reaching out to the landlord of the properties directly to form an agreement for the short-term rental.
While she started off slow, McMillian explained she has been able to repeat this process with nearly a dozen properties.
At least one of the properties she rents out in Arizona can bring in upwards of $68,000 of profit each year.
McMillian warned that those looking to set up a similar business might not find extreme success at first.
She explained that in her first year, she started earning around $3,000 each month.
Now, that reaches as high as $58,000 per month across all her properties.
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“Of course becoming an Airbnb host is a business like any other,” McMillian said.
“So it does take hard work and time but it's definitely achievable. I started at 19, today I am 21 and I'm a six figure Airbnb host.”
