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Short Term Rental Property Info
Posted on 10/13/21 at 12:39 pm
Posted on 10/13/21 at 12:39 pm
Hey guys -- Anyone into any short term rental properties? Looking for some pro/cons. Also some quality locations to buy. TIA
5
Posted on 10/13/21 at 12:46 pm to tcoates21
you’re going to get way more help if you do some of your own research and come back with specific questions. Just being honest.
Posted on 10/13/21 at 1:30 pm to tcoates21
Posted on 10/14/21 at 9:16 am to tcoates21
I'm very interested in this as well. I am actually about to list one of my long term rentals and 1031 that into a house in Fayetteville, AR for full time airbnb. Property taxes will be much less than TX but I'm sure they'll get me other ways.
Have never done short term rental before. I do not live in Fayetteville so having quality help up there will be imperative. Would like to hear from others with airbnb/vrbo hosting experience.
Have never done short term rental before. I do not live in Fayetteville so having quality help up there will be imperative. Would like to hear from others with airbnb/vrbo hosting experience.
Posted on 10/14/21 at 9:25 am to tcoates21
quote:
Also some quality locations to buy
If someone had quality locations with good ROI they likely wouldn't be sharing. Its not easy to find these days.
Its also a lot of work so I'm not sure if you are looking at hiring a property manager? That's certainly something to consider.
Posted on 10/15/21 at 11:06 am to tcoates21
I have a beach property that returned well since 2010. Initial investment 720K cash, 200K upgrades, average pre-tax return was 40K/yr for the first eight years and for the last two years has been 70K/year.
If sold today it would bring 1.7M. The trick was building up enough cash to pay cash, and timing - pay it at the market low - Feb 2010, panic season.
Nice advantages - beachfront, spend time there when not rented, wash cost of stays through the business. And I never have to worry about renters, they pay in full before arriving, and leave at weeks end. Downside - hurricanes.
The model where you have a mortgage and use rental income to cover it - it doesn't work well for cashflow, you mainly get paid when you sell.
If sold today it would bring 1.7M. The trick was building up enough cash to pay cash, and timing - pay it at the market low - Feb 2010, panic season.
Nice advantages - beachfront, spend time there when not rented, wash cost of stays through the business. And I never have to worry about renters, they pay in full before arriving, and leave at weeks end. Downside - hurricanes.
The model where you have a mortgage and use rental income to cover it - it doesn't work well for cashflow, you mainly get paid when you sell.
Posted on 10/15/21 at 11:16 am to OccamsStubble
Cash flow for high end properties is defense. Equity, forced appreciation, and 1031s is offense.
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