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Updated about 3 years ago,
Has anybody tried luxury rentals or content houses?
Found this beautiful home and it got me thinking. What kind of vacancy would a house like this have out in rural north east areas like NJ/NH/PA? It would cost me just under 50% of my net income to pay the mortgage ($700k). I've heard the really nice houses (maybe $3M), can make $80k/month as a content house where you get a percentage of the income of the creators that live there.
Can even purchase first as an AirBnb and ease into it. Start with one creator then add more. The more creators in the house the more investments made into the house to make it most presentable for production. Can even focus on particular shooting areas just like a traditional set. Areas that are best for backdrops are pristine, then the rest of the house can be more normal.
I have a lot of experience with content creation and production work, so I have an edge there. I've also negotiated deals with large manufacturers like Lamborghini, Rolls Royce and Kawasaki.
So that is one angle, but what about just traditional rental setup where I try to find long term tenants who can afford to pay $4600+/mo to live in a large 6 bedroom house? I have no idea who that market is. Who has that kind of money and wants to rent rather than buy? Technically, I could afford it and it might make sense if I had a HUGE family AND a 6 figure wife so the mortgage is easy. Thing is I can afford it because I live in a $2000 average rental market, not far from where you can find ugly $1M homes with normal people living in them somehow. I doubt many locals can afford $3500 rent, so that means top 3-4% of income earners, but again why would they not buy?
Seems it would be a tiny market of unique situations like some famous doctor coming from another country or something and want a place to live while they settle in, and look for a long term solution.