All Forum Posts by: Pedro Adorno

@Pedro Adorno 300k for $1,275 - 500k for $1,285 - 1M for $1,345

Hello BP! I’m purchasing incestment property thIs month Its a duplex for $220k. Median income in the area is about $35k. I’m not purchasing through a corporation. Getting the proper insurance wIll be my protectIon. My insurance offIce offered me 3 threshold options for liability. At which point is it unnecessary? 300k - $1,275 500k - $1,285 1M - $1,345 Thoughts?

Great points by Lucas. I too have seriously considered Airbnb in popular cities. Places I’d like to have an excuse to go enjoy. Based on my on going research Lucas seems to be right, unfortunately. I think what Lucas is saying is you’re gambling if your game plan is to have a short term rental in a community of primary residents. These residents are having their local politicians take action against the Airbnb market to disallow it. Lucas’s point is if you want to but a short term lease, buy it in a market that welcomes short term leases. I like to have my cake and eat it too, so I’ll keep researching. But I’m afraid I’ll play the safe bets and there are only two options. 1) Purchase to short term rent in an accepting community. One that’s been welcoming of it since before AirBnb. Before smartphones. A community that thrives on it and knows it. 2) Purchase a property to Airbnb in a city. One that may not be accepting and change may be impending. The properties MUST also make sense in another form of investing - such as long term leases. IMO I don’t think you’ll be able to sell out and break even. If you’re selling, that means everyone else who was airbnbing is selling. So you can say goodbye to appreciation appreciation. Thoughts?

Huge disappointment, but not a surprise. These politicians rely on the votes of the communities full time residents. Us relatively small time investors don’t have a strong lobbying voice. Stinks. I was looking forward to getting a vacation/short term rental home in SD. I wish they allocated certain jurisdictions where it would be allowed. Thanks for sharing the article.