Each of you offered a bit of skepticism in some way or another which is slightly alarming for me. Maybe I can clear some stuff up so I can reach out for a more vivid picture of what I am up against.
I’m currently living on Guam, and not to be biased but it’s a tropical paradise. It is a VERY hot market for the business model because the local government recently came out with an implementation of short-term rental licensing. Which means not very many people have the new license thus decreasing competition. I am also privy to all local tax laws and regulations. I understand this business model doesn’t work everywhere but I am fairly confident it will work in my market due to the fact that tourism is the #1 source of income for the island.
Not only is my landlord privy to my intentions but wishes to partner with me as well. This benefits me for a number of reasons a couple of which being; repairs/ cost will be paid by him, I will also not be locked into a monthly contract with him because we will be partners so seemingly there’s actually no risk in it for me.
Again, I know this will NOT work in every market all the time but I have done enough research to feel confident to pursue it here. I appreciate your considerations and look forward to hearing anything I may have missed or anything that I may need to tweak!
