5 Questions To Ask Yourself When Purchasing Property For An AirBnB
Short-term rentals are an amazing investment opportunity, but it’s not as easy as HGTV might have you think. Before you start searching for properties or begin planning color schemes or collecting fun furniture, there are a few questions to ask yourself when purchasing property for an AirBnB. Especially since Chip and Joanna won’t be there to guide you on the journey.
This isn’t to say that you shouldn’t buy a vacation home to rent out on AirBnB. It’s actually a great thing to do and provides you with passive income plus a nice vacation home.
You might be tempted by the spacious 4,000-square-foot five-bed, five-bathroom house that’s in your sister’s neighborhood and listed for what you think is a very low price. But if it’s in an area that’s too far off the beaten path and an hour from the football stadium, you won’t have much interest from your targeted guests.
Likewise, a charming town with the friendliest folks may seem like a great location, but if there’s nothing to attract out-of-towners, you’ll be hard-pressed to get the bookings that net your income.
So what do you need to consider before investing in a short-term rental?
In this article, I have five questions for you to think about in order to help you determine…
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