ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NEWS

Rental Side Hustle Now Brings in '$3 Million' for This 32-Year-Old Mom

What was once a side endeavor for Inlow has now matured into a big business overseeing a portfolio of more than 120 rentals and inns across Virginia.
UPDATED AUG 7, 2023
Cover Image Source: Thomas Barwick/Getty Images
Cover Image Source: Thomas Barwick/Getty Images

In 2019, Jamie Stark Inlow made a significant change in her life. She left her traditional 9-to-5 job in higher education and relocated to a mini farm in Scottsville, Virginia, with the aim of dedicating more time to her husband and son. While in this new phase, she took on consulting work in the higher education field and also landed a part-time role as a student program coordinator at the University of Virginia. Despite having a fulfilling career and a loving family, she sensed an unfulfilled aspect of her life.

Image Source: The Good Brigade/ Getty Images
Image Source: The Good Brigade/ Getty Images

This realization led her to a transformative moment when she recognized the potential of her neighbor's vacant apartment situated above a charming red barn. Seizing the opportunity, she converted the space into an Airbnb listing, marking a new chapter in her journey.

From a single listing, a swift expansion ensued, evolving into a fully-fledged property management enterprise named Be Still Getaways in 2020.

Image Source: Grace Carry/ Getty Images
Image Source: Grace Carry/ Getty Images

What was once a side endeavor for Inlow has now matured into a substantial company overseeing a portfolio of more than 120 rentals and inns scattered across Virginia. In the year 2022, the venture yielded nearly $2 million in revenue. Impressively, Be Still Getaways is projected to achieve $3 million in revenue this year, as per CNBC Make It.

The journey to success was anything but straightforward. For the initial two and a half years of Be Still Getaways, Inlow managed all three of her jobs, unable to halt consulting or her higher education role as all earnings were reinvested. In 2021, she hired a team, despite only paying herself $10,000 that year. "There were times I paid staff before myself," Inlow, tells the outlet. While still working full-time outside Be Still Getaways, this approach fueled scaling. In 2021, the company hit six figures, allowing Inlow to quit her other jobs. She started taking a regular salary the next summer.

Image Source: 10,000Hours/Getty Images
Image Source: 10,000Hours/Getty Images

The success story

Inlow persuaded her neighbor to allow her to list his apartment on Airbnb using a straightforward proposition: Provide $2,000 for furnishing and decorating, and we'll divide the earnings. In just two months, the bookings started pouring in, filling up nearly every night.

The success of the rentals attracted more partners, and by the close of 2020, Inlow was overseeing about 20 properties. Despite working over 80 hours a week across her three roles, she struggled to replace her $50,000 salary. Inlow decided to scale. Hiring an operations director and part-time contractors for property upkeep, cleaning, and staging marked a turning point. In 2021, Be Still Getaways generated $205,000 in revenue.

Be Still Getaways generates a multi-million-dollar income, yet more than a quarter of its revenue is allocated to sustaining its operations. During 2022, the year when the company achieved $2 million in earnings, a substantial $587,000 was dedicated to covering business expenditures, with staffing emerging as the primary cost. The payroll for Be Still Getaways' eight full-time and 60 part-time employees totaled $439,000.

Here’s a breakdown of Be Still Getaways’ 2022 expenses:

Wages: $439,878

Supplies: $113,343

Software: $22,854

Company car: $7,566

Warehouse rent: $4,000

Image Source: Grace Carry/ Getty Images
Image Source: Grace Carry/ Getty Images

Be Still Getaways is thriving, having earned $1,974,000 this year, and its growth continues. Jamie has big plans, aiming for her business to acquire its own commercial property and author a book titled The Secrets of Short-Term Rentals.

Balancing her success, Inlow seeks to scale her business to reduce her time commitment and spend more moments with her family. To unwind, she employs her Apple Watch's 'Do Not Disturb' feature, and travel provides her with a true break from work.



 

MORE ON MARKET REALIST
Harrison mentioned that Houdini was one of the best performers ever.
17 hours ago
The collection, which was probably bought for about $100, fetched an astounding valuation.
1 day ago
While the Sharks saw merit in All33's chair, they were choking on its sky-high valuation.
1 day ago
Mark Fitzpatrick candidly shared a step-by-step approach to reaching the main stage of Jeopardy!
1 day ago
The couple had multiple offers from different sharks who were fighting over a deal with them.
1 day ago
The expert said, 'in all my years on the Roadshow, it's probably the most exciting find I've had."
2 days ago
Viewers were surprised to see a clue about neopronouns on the popular game show.
2 days ago
The co-host didn't let it deter her and she ran to join the contestant in celebration.
2 days ago
Everyone was surprised when Cuban immediately accepted the counteroffer from the founders.
2 days ago
The guest's precious family heirloom held more than just sentimental value.
3 days ago
The guest explained an inscription on the artwork before the expert revealed something more.
3 days ago
The item was from prohibition era and that raised eyebrows in the pawn shop.
4 days ago
The extraordinary item once belonged to one of the most dynamic leaders of the U.S.
4 days ago
The appraiser explained that Remington was one of the most important Western artists of the century
4 days ago
Rick Harrison paid the price for having a conscience that didn't let him rip off the guest.
5 days ago
The champion had an amazing winning streak before reaching the Masters Tournament.
5 days ago
The item literally fell into the guest's lap as he was opening a record cover of the artist.
5 days ago
Alex Puglisi, a first responder from Connecticut, lost out due to a rarely used phrase in the Bonus Round.
5 days ago
The guest who inherited the lamps from his late friend was delighted to get the appraisal.
6 days ago
Fans were not happy about the player's failure to complete the obvious phrase.
6 days ago