Aspiring host. Looking to buy my first property to AirBnB in San Diego by year end!

[Kevin G.]

Hello everyone!

I have been wanting to start my own AirBnB for a long time and finally feel I am ready to by the end of year. My plan is to look for a single family home but if I can find a multi family property to have more than one unit and it fits my budget I will defiantly go for that as well.The location I am looking at is San Diego and/or the surrounding area. I know San Diego may seem more saturated but the occupancy rate there is still very high. 

I am centrally located between these two cities. My plan was to try to manage most of it on my own first. Get a solid team and plan together but try to do everything else remotely first. If I can't manage remotely my next plan was to hire a PM company to handle things.

So far when doing my research it sounds like you can own a STR in San Diego in their "Tier 3" category. So far there is still 2,000 something left spots available for a STR. I am totally open to surrounding areas in San Diego County, like Escondido, Oceanside, Carlsbad, etc. My goal is to find a good neighborhood with a high occupancy rate and decent daily rate.

Thinking of going more for a 4 bedroom house to accolade more guests but it depends on if I find the right deal. I would ideally like to find a property that just needs some cosmetic work, remodel the kitchen probably and AirBnB out. Thankfully, I have some family down there that does interior design that is open to helping me design the place too which will help me save some money.

Any tips for a first time host and in this area?

Thank you! 

[Bruce Woodruff]

Why San Diego? Once you sub out all the tasks is there really enough $$ to justify it? Like @John Underwood said, what about other, less discovered areas in other states?

Have you done a spreadsheet and run your numbers?