Once an Evangelist for Airbnbs, She Now Crusades for Affordable Housing

‍Recently, THE NEW YORK TIMES published an article about the journey of our co-founder, Precious Price, as she built an ADU in her backyard. Read the excerpt below and continue reading on the THE NEW YORK TIMES website.

When Precious Price bought her first home four years ago in Atlanta while working as a marketing consultant, she took advantage of her frequent business trips by renting out her house on Airbnb during her absences. “I knew I wanted to use that as a rental or investment property,” she said. “I began doing that, and it was honestly very lucrative.”

For Ms. Price, 27, and other young entrepreneurs of color, online short-term rental platforms like Airbnb and Vrbo represented a path to building wealth on their own terms. With an excellent credit score and minimal start-up capital — a primary barrier for people in this demographic — a professional Airbnb host could amass a stable of apartments on long-term leases, then turn around and rent those properties on a nightly basis to vacationers.

CONTINUE READING on THE NEW YORK TIMES >>>>