Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Multi-Family and Apartment Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 2 years ago,

User Stats

769
Posts
432
Votes
Cassidy Burns
Agent
  • Investor
  • Washington, DC
432
Votes |
769
Posts

AirBnB in Medium Size Multifamily Buildings?

Cassidy Burns
Agent
  • Investor
  • Washington, DC
Posted

Hi BP,

I'm dabbling with the idea of trying AirBnB in 2 of my units that I just turned over in my 32 unit apartment complex.

Has anyone had any experience with this? 

Details on the building: 

-1 Mile from Greenbrier Golf Resort in WV ($260/nightly average)

-Tons of wedding venues / company retreats that occur at the Resort.

-32 Units, broken into four 8 unit buildings.  

-1 Bed Rent: $500/month

-2 Bed Rent: $600/month

-C Class apartment building which we are doing a value add too.

My Concerns:

-C Class apartment building

-Don't want the Vacationers to have a bad stay and then leave bad reviews on AirBnB Host account for future investments.

-Want to make sure that current tenants are happy and not disturbed.

-A little more management from a cleaning/ turnover perspective.

-More traffic through parking lot.

Benefits: 

-AirBnB is suggesting $100/night for the 1 bedroom units.... ROI will be much higher.

-I am predicting that there will always be people who would rather stay 1 mile away from the resort during these events to save $100-$200/night on their stay.

-Allows more of a budget to make units a little nicer.  

-I will be doing my Cash out Refi / repositioning in February 2021 of this building. Will banks loan differently if % of NOI is short term rental over long term rental?

Sorry, a lot of questions / info there.  BUT, interesting topic.  Lets get some good ideas in her! 

Thanks in advance.

Loading replies...