Is it a good idea to Purchase an Airbnb property?
Thinking about putting 300k as down payment maybe loan 600k.
The return is about 13% cash on cash.
But is it a long lasting business? We certainly have to hire a PM company as we can’t manage this. Average stay time is about 3 days.
#personalfinance #investments #airbnb #airbnbdata #realestate
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I once asked if I should buy Ethereum. They said it is a fad. It was trading at $8 back then
If that’s the case, it may not be worth it.
Also, find out how long it’s been an STR and why the current owner is selling. If their netting 36k+ a year, there’s a reason they are selling. Make sure to get a home inspection and write it in as a contingency.
Lastly have you compared LTR for STR? For 300K a year and 600K in loans (900k total) you could pickup multiple properties for some diversification and have some decent lower stress dividends.