I'm in NE Seattle. Last year a couple working at Amazon bought the 2bd / 2 bath townhouse next to me for 700k and made it an Airbnb investment. Their place seems to be renting well and I see a steady stream of guests. Thankfully they've been pretty good so far. I wasn't sure if it would work in this interest rate environment, but somehow the property next to me is working. Is anyone here still doing Airbnb as a property investment? How are you doing with your property this year?
Location is key. Without that info this post is useless
OP is having FOMO but don’t want to invest anywhere. He just wants people to tell that it’s a bad investment so that he call feel good about it. That’s why there are no details in the post
Added additional detail that I know. I do have some FOMO, but I'm not necessarily thinking it's a bad investment. In fact, they got me thinking that I should Airbnb my place and buy another property.
Post deets pls. Monthly PITI , expenses, cash flow?
It's my neighbor, unknown except for the purchase price.
Put the numbers in a spreadsheet and see where you will land.
I believe king count has a limit on number of nights you can Airbnb.
I went Airbnb route, Airbnb got banned before I went live 😂 Midwest Town
Your neighbors will hate you, the worst thing that can happen to anyone is your neighbor rents out their house as a STR. Oh, I also read today WA state is going to pass a law that all STR's will have to pay a 10% tax. https://mynorthwest.com/3952150/proposed-tax-short-term-rentals-closer-becoming-state-law/
My neighbor is the one doing the airbnb. Not me. Can you post the link to the article? Doesn't seem to be showing up in Google news.
Also Interested in hearing from folks investing in rental currently! Maybe some locations are still doing fine now? Where are you located OP? In the Bay Area?
In Seattle, updated post. I didn't think the market here supported STRs at these interest rates, but somehow the Airbnb next to me is working. Maybe they bought it with cash? Though somehow I doubt a tech person would shy away from the leverage benefits of a mortgage.