Is buying a property just for Airbnb a smart investment?

F

foofamapocalypse

New Member
Airbnb.
Does anyone have a investment property—and use it solely for Airbnb?

We're looking at that option… so it can be used by us occasionally throughout the year.

Not sure if its a wise investment decision?
 
Yes, I wouldn't go back to long term renting.
YouTube and ChatGPT can help you start.
If there is enough profit, hiring a manager is a good option when you want to be less involved.

If you buy a property in a good location, first do some market research.
Use AirDnA for free.
For more detailed reports, sign up to PriceLabs.
 
I wouldn’t ever go back to long term renting. YouTube and ChatGPT can help you a lot, but if there’s enough money in it, hiring a manager is a better option if you want a hands off approach.

If you buy a property in a good location, do some market research try AirDNA for a free option, or sign up for PriceLabs if you want more detailed reports.
 
I know a few folks who rent out small Airbnbs, bungalows, tiny home trailers, yurt kind of deals. They bring in 30 50k a year. It really depends on the location and type of accommodation. I think you’ve gotta nail the visual and really sell something to the consumer with them.

You also gotta keep management and cleaning in check or it can get out of hand. Rentals are more secure and way less hassle if,you have good tenants, but the Airbnbs, from what I’ve seen, can bring in a little more cash but take more effort. Like someone else pointed out, if you can’t clean it yourself, a big chunk of your profits goes straight to paying someone to come out and clean.
 
So my parents bought a holiday house, mainly renting it on Stayz ($1500 a night) with the same idea . They had a 4.8 rating with 100+ reviews, but gave up after 12 months – way more work than it was worth . They still own it, but it just sits empty when they or the fam aren’t using it. They also got 2 apartments in Noosa in the same complex, one is strictly for rental and they make a bag off it – it’s managed internally by the complex so super easy.
 
I'm just dabbling in it now. Within my first week I've already spent around $13k on setup, and I'll likely spend a bit more mostly at Kmart, Woolies, pest spray, cleaning, and Facebook Marketplace furniture. It's a lot, but I'm committed.

Right now I have about $6k from 6 bookings that came in my first week (paid out after the stay, of course). So I still need roughly another $30k in bookings over the next 6 months to make it competitive with a long term rental. 6 out of 23 weekends are booked if I can fill those weekends plus a few weekdays, I think I'll do okay.
 
You know, like with any business idea, success really comes down to your asset quality and your ability to hustle. There are definitely success stories out there but right across from me there's an Airbnb apartment that hardly ever seems to be rented. I just can't believe the owner is making good money from it. I've got a rental myself, but I don't do Airbnb… not really my style.
 
My parents do. They were fortunate to get in early, so it has worked out perfectly for them. It's in a lovely, upscale neighborhood and priced fairly they've had very few major issues, which has been a true blessing.
 
We have 1. I feel you need to clean it yourself to make it worth the $$. We find it often leads to a business needing accomodation for a few months. There is heaps of demand for furnished mid term rentals.
 
Back
Top