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Updated over 7 years ago on . Most recent reply

Account Closed
  • Wholesaler
  • Phoenix, AZ
10
Votes |
97
Posts

Landonrds that do Arbnb, is it a good strategy to....

Account Closed
  • Wholesaler
  • Phoenix, AZ
Posted

Good Afternoon Investors, 

Ok so I want to buy a few properties and ARBNB them, I have a hard money lender that give me repair money along with the house loan amount. Goal is to ARBNB them the third month or so once they are completely renovated so that it pays for the monthly mortgage then, sell it within 6-8 months. 

I would buy it outdated, add value either square footage or upgrade it, and sell it for a higher price. 

-My question is how do I find out if the area I am trying to buy homes rent often?

-How much does ARBNB take from your monthly rental income ? 

-Is ARBNB even profitable after all expenses (Mortgate, water, electricity, internet, cleaning service. Am I missing anything ?) ? 

Thank you in advance for you response !

Most Popular Reply

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606
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697
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Bettina F.
  • Investor
  • Post Falls, ID
697
Votes |
606
Posts
Bettina F.
  • Investor
  • Post Falls, ID
Replied

Go on to the AirBnB site and search for listings in your area.  You will be able to see the demand, and what the pricing is for comparable units.  Keep in mind your costs of doing an AirBnB are going to be in furnishing your spaces, and housekeeping/laundry costs, cable TV and internet costs. If your units are not sparkling clean and  comfortable, you will not get good reviews and bookings.  Plus, winter is usually a slow AirBnB season.  I think these "soft costs"  would make a short term AirBnB not profitable.   

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