AirBNB Rental Business

[Liam Weld]

Hi everyone! I wanted to get people's opinions on a business concept that I have. I was interested in buying a property in an area such as Miami or Las Vegas (due to the low cost of homes & its desirability as a tourist destination), renovating it and renting it on Airbnb. If things go well I'd even like to turn it into a business where I do this for other people, while getting a cut of their return.

-Liam

[Sukhbir Grewal]

While I respect everyone's opinion who has posted on this topic,  I will have to respectfully disagree with the "old-timer" way of thinking. It's a Luddite mentality to just hope things will remain status quo and not adjust to the changing technology. AirBnb and Uber for that matter are valued at several billion dollars and backed by venture capital companies with very strong lobbying power. These businesses are here to stay and the cities that fail to adjust will be negatively effected.

Liam, feel free to message me as I run the exact type of business in Las Vegas you are interested in. I'm at 90% occupancy on airbnb year round and have over 45 5 star reviews. I started 10 months ago and made over $60,000 revenue on two 2bd/2ba I purchased for a total of $180,000. High supply with low demand within the city result in low prices. At the same time, the high cost of hotels combined with high rate of tourism leads to great demand for vacation rentals. 

I look forward to speaking with you Liam and while the rules/regulations currently make airbnb difficult in certain cities, this is the perfect time to get involved as these cities will tailor their laws over the next 3-5 years. 

Sukhbir