The property developer who has 16 Airbnbs in Manchester – after sleeping in his car so he could rent his own house
Entrepreneur Corin Craig Jackson is on track for his first million with his booming luxury apartment hotel business – after he started renting his own apartment on Airbnb while sleeping in his car or surfing. a sofa with friends.
Corin bought his first apartment in Manchester city center for £ 117,500, just after graduating from Manchester University, after saving the £ 20,000 salary he earned for a year of internship during his business degree to be used as a deposit.
After purchasing the two bedroom apartment, he got to work giving it a New York loft style makeover and decided to try testing it out for short term rentals on Airbnb ago. seven years, when the rental site was in its infancy.
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Today, it has a portfolio of 16 apartment hotel rooms, with seven more being purchased or renovated, ready to be let, under its Jacksonheim Boutique brand.
Corin said, “When I started seven years ago, the first property I listed on Airbnb was my New York Boutique apartment – it was my own home.
“Basically I went to sleep in my car or on my couch, surfed with friends so I could let him out.
“This was only the third apartment listed on Airbnb in Manchester at that time.
“I wasn’t getting close to the prices I’m getting now, but it started out as a good source of income for me. “
Corin had joined the graduate program for a large confectionery company after graduating, and as he worked his way up the corporate ladder, he used his disposable income to start buying properties other than it could improve and then put on short term rental. Airbnb.
“I was using my salary to support mortgage applications and my income from apartments to increase,” he said.
“It happened at the stadium in December 2019 that I was making more from apartments than my six-figure salary so I knew it was time to take the plunge and make it my full-time business.”
But, a few months after that decision, the global pandemic struck – and the country went into lockdown in March 2020.
Far from being dissuaded from buying more apartments, Corin saw it as an opportunity to further develop her burgeoning brand – even though her friends and family thought he was “crazy” to do so.
Since foreclosure restrictions were eased earlier this year, it is reaping the rewards of a vibrant rental market, as people escape for breaks to ‘stay’ in the UK against a backdrop of continued uncertainty regarding overseas travel.
Corin, 30, said: “In March 2020 the market was gone and everyone told me I was mentally but I persevered.
“And now I have a portfolio of 16 properties and 6-7 nearing completion, there is rapid growth there, this has been a foreclosure success for us.
“Everyone was saying to withdraw, the traveling market is not there, but I was saying ‘look, the market is going to come back, you told me I was stupid the first time’.
“And since June, as soon as we got out of containment, it went crazy.”
It now has 16 apartments available for booking through Airbnb, Booking.com and direct from Jacksonheim Boutique, along with other real estate developments underway.
Corin’s original NYC Boutique Apartment remains one of her most popular rooms in her Jacksonheim Boutique collection of 16 individually styled apartments across Manchester.
Corin says there can be huge sums to be won, especially when big events take place in Manchester like big football matches or the recent return of the Parklife festival – when Airbnb rooms were in such demand, prices inflated to $ 1. £ 000 per night – from the start off-peak prices from £ 75 per night.
“The NYC store is almost fully booked until December, every night. That’s a gross income of £ 3,900 per month, while the top performers will make around £ 6,900 per month, “he said.
“The total monthly turnover is around £ 60,000 with new additions close to £ 70,000 and I have no doubts that by the end of the year the turnover will reach one million.”
Corin specializes in luxuriously renovating apartments to make them stand out from the ever-growing Airbnb crowd – her most recent transformations are two all-pink themed Boujee Boutique apartments.
“When I started on Airbnb it was used by a niche consumer, but now it is used by every man and their dog and is seen as an effective way to book an alternative to a hotel,” said he declared.
“As buying behavior has changed, it has become much more accepted.
“When I first told my mom and dad what I was doing, they thought I was an idiot, but now it’s come full circle and they also use Airbnb for breaks.
“This is how the perceptions of people on the platform have changed in such a short time.
“It started as a side income, but now I employ 12 people to manage the portfolio. “
And he thinks anyone can try Airbnb, even if you don’t own your own home.
Corin said: “I firmly believe that anyone can do it.
“It is not necessary to be the owner of a property either, it is enough to have the authorization to sublet from its owner.
You can start your own short term rental business from your phone.
But Corin says he wouldn’t recommend doing what he did while sleeping in your car to do it.
He laughed, “I would never recommend anyone to do this, I’m a little crazy, I appreciate not everyone doing this.”
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