Investing in a vacation home used as an AirBnB?

[Breyan Lallas]

I am wondering if anyone has any experience purchasing a vacation home (specifically in Key West or Arizona, but advice from anywhere would be great) and renting it out as an AirBnB, when it's not being used? I am specifically wondering if the income would be high enough to at least cover the mortgage and preferably bring in a small profit as well. 

Thanks :)

[Wes Blackwell]

@Breyan Lallas

Yes, this can definitely be done. Here are the big three factors:

• Your monthly expenses for the property
• Where in the Phoenix Metro Area the property is located
• When you're going to be renting it

Your financing will determine your monthly expenses. All cash? Great! 20% down? Might be tough...

The location is key because of demand. Scottsdale, Tempe and Central Phoenix are probably your best bets. Surprise? Buckeye? Probably not.

Ideally you'll be renting it during peak season (the cooler snowbird months). If you'll be here during that time and only be renting it in the super hot summer, you might have more trouble getting it rented.

Hopefully that gets you pointed in the right direction. If you have any more details or questions let us know and we'll try to help you get it figured out!