Quote from @Nathan Gesner:
Quote from @Ran-D Baldwin:
There's more than one way to skin a cat. People are investing in syndications and making 8% without having to worry about tenants and toilets. You can make more cash flow with a short-term rental, but it takes more work. Self storage or commercial office space may get a great return with less work, but then there's talk of a pending commercial collapse.
Cash flow is hard in today's market because of high prices and mortgage rates. I would consider flexing for a while and looking at appreciation markets until prices/rates come down and things balance be
I just wanted to highlight this article posted on BiggerPockets Is the Airbnb Collapse Actually Happening? Here’s What We Know.
I think we can all agree there are always risks, pros, and cons to every investment. I'm pulling a couple of quotes, but I recommend reading the whole article to see them in context.
"While data from various sources differ, the sentiment from experts at AirDNA, Airbnb, and Evolve is consistent: The market is normalizing rather than crashing. Hosts still stand to make more money now than they did in 2019, before the boom in demand for vacation rentals."
"Managing a rental property in a competitive market can be overwhelming and may require more effort than you’re willing to put in. Says Schueller: 'Ultimately, we find that vacation rental owners that manage their own properties are most successful when they treat their business like their full-time job, so for owners who are unable to dedicate that amount of time and energy, partnering with a property manager who already knows what success looks like is often the better option.'"
It's important to get a marketing analysis on any property you want to buy or convert to a short term rental.
