My husband and I recently started a real estate investing and Airbnb business. In this process, we were able to get $1,100 to start the Airbnb portion of the business. Even if you don’t want to be an Airbnb host, you can use this free money method to start pretty much any small business or side hustle.
It just takes some creativity and organization to research and acquire this free money for your Airbnb business or side-hustle.
Before I go into that full story on how to get your free money, I want to remind you that there are many side hustles and small businesses you can start with little to no money.
These side-hustles could easily fund your small business idea. For example, you could become a freelance writer with just a computer and an internet connection. Even if you don’t have a computer, you can go down to a library or community computer lab to write articles for money.
Other low-to-no cost side hustles include:
- Dog walking
- Yard work
- Tax preparation
- Equipment repair or maintenance
These are great side hustles to start with if you don’t have any start-up money but you’ll ultimately be limited to the amount of time you have to work these hustles. If you want to start side-hustles that can turn into passive streams income, you’d do well to invest more money on the front end in many cases.
For example, starting a blog or similar digital business requires that you pay for web hosting and possibly a WordPress theme. Personally, I’ve invested money in blogging classes that helped me with setting up my blog’s framework, content creation, and marketing like:
These have helped me immensely with my online business.
If you are starting a business that requires investment for equipment, training, licensure and other types of capital, it can all add up. In fact, it might even discourage you from starting your business in the first place.
If you are looking for money to start a business (as an Airbnb host or otherwise), I’ve got some tips that can help you find a few extra dollars so you can finally start the business or side-hustle you’ve always wanted.
To get started, I’ll show you how we got a little over $1,100 to help start our Airbnb business.
Open a New Bank Account- $300+
There are many banks that offer new account bonuses if you complete a number of actions like setting up direct deposit or keeping a balance in the account for a certain number of days.
Here are a couple you can get started with:
- Chase- Get $250-$300 to open a check or savings (we used this to open our business account)
- Chime- Get $50 to open an account and $50 when you refer a friend to open an account
- You can also go to large banks like Wells Fargo, BMO Harris, and others to search for new account bonuses directly on their sites.
Make sure you read all the instructions on how to be eligible for the bonus and follow them to the letter. Otherwise, you could forfeit your bonus. This is REAL money that can be used to start your small business
Open up a New Business or Personal Credit Card- Up to $500+
There are many credit cards will give you new account bonuses in the form of rewards points that can usually be redeemed for cash. Here are two cards we like:
- Chase Ink Business Preferred: Get 80,000 points (or $800) when you meet the spending limit after opening your account and meet other criteria stipulated by Chase. Read terms and conditions for eligibility.
- Chase Sapphire Preferred – Get 50,000 (or $500) when you meet the spending limit after opening your account and meet other criteria stipulated by Chase. Read terms and conditions for eligibility.
NOTE: Please use your credit card responsibly. Be sure to pay your balance off at the end of each month to avoid paying interest. DO NOT get a credit card if you have issues with mounting debt you cannot pay off.
Use referral programs to earn cash- $300+
As an Airbnb host, we earn $300 for every Airbnb host referral we make. When someone becomes an Airbnb host and hosts their first guest with an eligible reservation, we get $300 deposited into our business bank account. Each referral really helps us invest back into our Airbnb business.
UPDATED: Airbnb now pays host referrals $300 per new host referral and $25 will go to the new host that is referred. Create your Airbnb listing and get $25 immediately for creating it.
Also, if you aren’t quite renting to rent your space out, you can also host an Airbnb experience (i.e. walking tour, bike ride, art class, dancing lessons, etc.) Plus, when you become an Airbnb experience host, you can begin referring other experience hosts and earn $50 for each.
Become an Airbnb experience host and make $50 for each new experience host you refer as well.
No Airbnb business? No problem!
There are hundreds of referral programs you can use to find free money to start your small business or side hustle. I’ve written a few articles that list out a few of each:
Want more ideas on saving, earning extra money and just getting your finances together in general? Check out this free guide, Money Hacks 101: 50+ Ways to Find, Save and Earn More Money.
Click here or the image below to get instructions on how to access it: