Author Topic: How would you invest to maximize Airbnb earnings?  (Read 2282 times)

Kaplin261

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How would you invest to maximize Airbnb earnings?
« on: August 23, 2015, 05:17:03 AM »
Im selling my current home and buying a new one, what things should i look for in a home that will be rented as  a vacation home and be a primary residence. The situation  I'm in will let me rent my home out every other week.

We are not on a coast or lake so water front property is out.

So what would you look for in a property that you were going to rent out for half the year and then live in the other half? Budget is $320k
« Last Edit: August 23, 2015, 06:27:35 AM by Kaplin261 »

thedayisbrave

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Re: How would you invest to maximize Airbnb earnings?
« Reply #1 on: August 23, 2015, 10:06:27 AM »
I'm just naming a few off the top of my head, so this is by no means an exhaustive list...

Location (proximity to public transport, entertainment venues, business hubs)
# of bedrooms (the more the better)
Full-size kitchen

Also depending on the type of home, I would make sure the HOA doesn't have any restrictive covenants on the use of the property as a vacation rental. 

MKinVA

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Re: How would you invest to maximize Airbnb earnings?
« Reply #2 on: August 23, 2015, 06:25:35 PM »
If you are thinking of this place being in Richmond, Rockett's Landing.  Hip vibe,  on the water, in the county so not city taxes, water recreation available. In fact, I may steal this idea in a couple of years when I retire.

MayDay

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Re: How would you invest to maximize Airbnb earnings?
« Reply #3 on: August 24, 2015, 07:46:25 AM »
Having rented a few times, we have always done it for a family vacation.  So we have wanted a dining room table with enough chairs, and big enough to seat the whole group (6 to 10 people).  Something that folds out or has leaves is fine. 

And we have wanted at least 2 bathrooms, 3 is nice, some can be half or 3/4 baths.

And we have wanted plenty of sleeping space.  Like each bedroom should have a double bed or larger, and one of those bunk beds with a twin bed over a full would be great.  Or a trundle bed.  Or a futon in a sunroom or office (with doors that close).  Generally we are needing to sleep a certain number of people, but we don't care if it is tight.  We just want people to get beds, not have to sleep on the floor, and have a modicum of privacy (ie not in living room). 

In terms of other amenities, I would love a rental house that had bikes we could use! Close to airport/other public transport is nice. 

Dicey

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Re: How would you invest to maximize Airbnb earnings?
« Reply #4 on: August 24, 2015, 03:14:27 PM »
Airbnb is freaking out the mighty Hospitality Industry. Hotel owners and municipalities have figured out that they're losing revenue. They are both looking for ways to make airbnb pay their "fair share". I'm just adding this to the conversation because there will be change in the future. Take a look at your last hotel bill and see what you paid in taxes. If you are forced to levy similar fees, will you have to drop your prices to stay competitive? Will that change your outlook? Just something to think about when you're doing your calculations.

Kaplin261

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Re: How would you invest to maximize Airbnb earnings?
« Reply #5 on: August 24, 2015, 04:23:55 PM »
One thing I've noticed is that you can get bigger homes for less money in areas with bad schools but good neighbors.

Is a pool worth the expenses and the liabilities?

Sauna? Hot tub?

Rural with privacy and scenic views or in the city close to everything?

bop

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Re: How would you invest to maximize Airbnb earnings?
« Reply #6 on: August 24, 2015, 07:14:05 PM »
Following along, because I may also be in a position to rent out my next personal residence for short-term rentals.

expatartist

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Re: How would you invest to maximize Airbnb earnings?
« Reply #7 on: August 24, 2015, 07:25:31 PM »
Depends on the kind of traveler you want, and how many of them.

Who comes to your town/area, and why? What kinds of things would they like to do? Recreation? Culture? Will they have a car?

MayDay

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Re: How would you invest to maximize Airbnb earnings?
« Reply #8 on: August 25, 2015, 07:22:03 AM »
Not rural.  Definitely city, possibly suburban. 

Pool is good (I have kids, this is a significant draw for them on vacation).  But worth the liability?  IDK.  We rented a house in FL last winter with a backyard pool, and I think we will prioritize it again.  Sauna, hot tub, nope.  I guess maybe hot tub if you are going for couple romantic getaway, which is a totally different market than my family is.