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Updated over 7 years ago,
Flip gone bad....... Could Airbnb work?
From this point I've done only 100-125k are flips and rentals. I rehabbed a higher end house in Neptune Beach, FL (Jacksonville). I'm at my breakeven point before I start eating money and they are going to call the loan in the next 4 months. It's a nice house but a 500K price yelds a pickier client range and not exactly the layout they may want. I get a lot of showings and never offers. I was thinking about refinancing it and turning it into an AIRBNB. It's approximately 5 min bike ride from the beach. Close to shopping centers / nice restaurants in a very nice area. I believe that if I could rent it 60% of the time at $300 a night it would work great but I'm in the colder part of Florida that doesn't have as many attractions as other parts of the state and not sure if it would stay rented 60% of the year. It's a nice area but not exactly, Orlando, Miami, etc. I be also faced with coming out of pocket another 7k for adding in beds, washer, dryer etc. If I start renting it now and it goes vacant during the winter I'll have to wait till summer again to sell it not to mention taking it off the market when the potential to sell it could be high or risking another down turn in the next few years. Any advice on airbnb in this area or ideas on what to do, I'm all ears. I'm at a crossroads.
To see photos of this house: https://www.zillow.com/homedetails/1515-Kings-Rd-Neptune-Beach-FL-32266/44625867_zpid/
Thank you Ryan Hammers