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Updated almost 5 years ago on . Most recent reply
Short term rental market implosion?
I read on Twitter that someone’s roommate is a super host on Airbnb and has 10+ mortgages/lease agreements. They are on an Airbnb forum and there are many of them in the same situation. I listen to str podcasts and this is a very common “no money down” strategy. They would be okay with paying market rates on Zillow because the cash flow was so good but now 0 cash flow. Some people pay above market rates for rent to sway landlords to allow them to Airbnb. Really interesting to see what will happen.
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#4 Short-Term & Vacation Rental Discussions Contributor
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- The worst town to live in, KS
What Luc means is that if someone needs a room mate to share the rent on their personal residence, they probably are not cash flowing enough to be independent.
Sort of like me. I share a place with my cleaning lady. She used to clean for free, and I would get to sleep with her. Now she takes a cut of the rent, but I still get to sleep with her.