North Park San Diego House-Hack Vacation Rental

[Michael Conway]

I'm looking at purchasing a property in the North Park neighborhood of San Diego with detached granny flat that seems like a great opportunity to use as a vacation rental.  I've looked into these units on AirBNB and VRBO, and the numbers look pretty good.  The property is walkable to tons of great bars, restaurants, shops.  Does anyone have direct experience with a vacation rental on their primary residence property?  I would love to here your tips and tricks, as well as how the property has been performing financially.

Thanks!

Michael Conway

[Lee Ripma]

@Michael Conway I think this is a great idea! Just make sure you collect taxes for the City and get a City of SD biz license, it's not more than 80 a year. I think you could profit very well from this! Vacation rentals (that are booked) might be the only way to have instant cash flow in SD. Certainly pursue this and keep us posted. I really like this idea but the cost of entry is so high so I've decided to try it in Mammoth Lakes first. There you can short-term rent condos without a problem. 

@Keeya WangJones I also like this idea but watch out for condos and short term rentals. Many condos have banned this in their CCRs and others will soon follow suit. I know a lot of condos near the beach have restrictions where you can only rent for more than 30 days. For this reason I like Michael's idea with a granny flat or a multi-family where you own all the units. Just my two cents!