Skip to content
×
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
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Short-Term & Vacation Rental Discussions
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 over 1 year ago on . Most recent reply

User Stats

5
Posts
13
Votes
Haley Jang
13
Votes |
5
Posts

Primary condo unit with AirBnb (House Hack)

Haley Jang
Posted

Hello all, 

I'm thinking about renting out a condo unit whenever I travel. I know people often say condos might not be the best investment due to HOA stuff, but I still want to run the numbers. My idea is to live at the condo for less than a year, Airbnb it whenever I'm not there, and then move to a new city while fully Airbnb-ing the place. My goal is to avoid spending money on apartment rent in downtown (and possibly even generate some extra income) until I make the move to the new city for MFH investment.

Here are my questions:

1. Assuming "there are no HOA restrictions" and "the location is really popular area", what things should I really think about to figure out if this whole plan makes sense financially? I've got the basics like Mortgage, HOA, Taxes, Cleaning fees, and vacancy rate down, but what other expenses should I be aware of, especially for short-term rentals? I've mainly thought about long-term rentals before, so diving into short/midterm rentals, especially for my primary home, is new to me. Would the 1% rule still be a thing here? Any additional guidance or resources you can offer would be greatly appreciated!

2. Can I put a lower downpayment (<20%) with a conventional loan since I'm planning to make it my primary home, even though I'll be running it on Airbnb? Appreciate the insights!

Most Popular Reply

User Stats

882
Posts
1,968
Votes
Sherief Elbassuoni
  • Realtor
  • Bellevue, WA
1,968
Votes |
882
Posts
Sherief Elbassuoni
  • Realtor
  • Bellevue, WA
Replied

@Haley Jang, you listed the main expenses. Add supplies, utilities, .. and some Misc. 

You may need to get AIrbnb business license based on how you operate the business

Loading replies...