'Bargain with the devil': Bill comes due for overextended Airbnb hosts [MSN Money]
Lyft, Inc. - Class A (LYFT)
Last lyft, inc. - class a earnings: 2/11 04:05 pm
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Source: MSN Money
© Scott McIntyre for The Wall Street JournalFor years, Cheryl Dopp considered the ding on her phone from a new Airbnb Inc. booking to be the sound of what she called “magical money.” A property she rted out in Jersey City, N.J., on Airbnb could gross more than $8,000 a month, she said, double what long-term tants would pay.Now, Ms. Dopp associat the dings with cancellations and financial misery. The 5-year-old information-technology contractor said she had about $0,000 in bookings evaporate overnight in March. She has $,000 in monthly exps for a largely Airbnb portfolio, she said, that included another Jersey City home and a house in Miami.In her mind, the promise of more rtal income offset the growing debt, she said. “I made a bargain with the devil.”Load ErrorMs. Dopp is part of an upper-crust dimsion of the gig economy: property owners and speculators who bought or leased real tate in pursuit of Airbnb profits. Airbnb spawned a cottage industry of homeowners running their own prope
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