Air Bnb Property Criteria

[Gareth Fisher]

Hey guys, I have been investing for several years now and am looking to try my hand at nightly rentals.

I am looking to do a hybrid of the BRRR strategy. I own a contracting company so it fits well with my skill sets. I'm looking to buy a run down or outdated property bring her back to life. Then refi it and furnish it for a nightly rental.

I have a few questions about criteria for the property.

1. Does a 3br perform better then a 2 br?

2. Is being in town close to everything aka walking distance to bars and restaurants outperform a quiet setting outside of town perform or can they do ust as well.  I know a prefer a quiet setting but everyone is different.

3. Does the type of home matter? rancher vs bi level matter? Or are the finishes more important.

4. Size ? Is 1300-1500 sq ft big enough or does it need to be a full on 4br 2bth home.

5. Are pools worth the extra expense? They seem like a money pitt to me.

6. Has anyone used an aprtment in like a multi unit as air bnb before? It seems to me that to take a 2 unit and rent both out would provide extrodanairy cash flow.

7.  Any other tips on what things to look for in a property?

Sorry if these are kind of general.  I am trying to be a lot more focused in real estae goals

  I feel like now that I habe decided on a strategy for the upcoming year.  I need to figure out what type of property would suit the nightly strategy rental the best.   But because I have never done this strategy before I figured I better ask someone who has.

Thanks in advance guys I appreciate you taking time to help me out.

[Paul Sandhu]

My market is refinery contractors.  Big burly guys with neck tats that drive jacked up 4x4s.  They chew tobacco in their sleep and smell like diesel fuel.  I decorate my houses like Hugh Heffner would decorate his own.

1. No.  They all gross and net about the same at the end of the year.  2BR, 3BR, 4BR and really big houses that sleep 6 or more.
2. Irrelevant, my town is small.
3. Irrelevant.  They just want a place to drink beer, cook food, do laundry, shower and sleep.
4. I put beds anywhere I can.  23 STRs and maybe 10 dining tables.
5. No way.
6. I'm doing that right now.  11 apts are STRs in a 14 apt complex.  I'm waiting for elderly people to move on.  @Luke Carl would say I'm waiting for them to die.

7.  Bank foreclosures.  That's all we buy for about 25% of appraised value.