Need help buying an AirBNB rental in Florida

[Quan Tran]

Hello everyone,  

Thank you ahead of time for all your inputs.  I live in Massachusetts and hear that it could be quite a good investment to buy a property in Florida and AirBnB it out.  Does anyone in here have any experience or recommendations?  I was told by a coworker who owns a property there and he says he has a management company who does everything and hands off and after all expenses are paid, he nets between 2000 to 2500 per month in Tampa FL.  Does that sound too good to be true.  Thank you so much.

[Andrew Steffens]

Quote from @Quan Tran:

Hi Andrew, 

Thank you for the quick respond.  We are looking to buy a property around 350k and see how it would work out.  If it works out well then we would like to buy a few more to add to our portfolio.  Would a 350k property with today's rate and market yield us between 2k to 3k a month?  Thank you.

 Unfortunately not with todays' rates, costs, and especially not with management factored in.  I am analyzing some $400-450k properties with 10% netting around $1,000 a month in profit being self managed.  If you get into the sweet spot being $600-800k you could net $2k per month.