The MLS seems to be flooding with STR

[Isaac Johnson]

Hey Everyone,

My name is Isaac Johnson. I'm a local real estate investor and agent. Recently I was helping a client find property in NWA and every single house we looked at was an AirBNB that had been bought less than 2 years prior. 1 or 2 seems pretty normal, I understand things don't work out sometimes. But I mean it was 5-6 homes. One of which we bought and they took well under asking if we could close in 2 weeks.
I don't mess with STR, I prefer the longer leases, so I have no experience in the field. I was wondering if any STR investors in the area can shed some light? Is NWA just not good for short-term rentals? Or are most of them bought with interest only loans while they're being furnished and the interest rates just crushed them? Thanks!

-Isaac 

[Luke Carl]

There are so many things here that are market specific. Nearly every single property in my markets is an “airbnb” or as we call it a vacation rental. So it’s hard to relate if you’re dealing with mostly primary homes. 

It’s probably true lots of folks got in and didn’t realize it’s an actual gig. Very much like motorhomes in the past two years. “Oh, ok, kind of over it let’s sell.” 

I for one would be very happy if this were to happen so I can get out there and close some more deals. But then of course I’d have to work even harder than I do now 😍😍😍

Although if it's listed on your MLS as an "Airbnb" it's just a buzz word to make the listing stand out. It's still just a single family home and will likely end up a primary home. Unless that is, you're in a vacation market. Then it will probably stay an "airbnb"

I also don’t think 3 to 4 homes in any market in any asset class is enough to raise an eyebrow. 

Hope this helped! You rock!