Buying with the aim on renting on airbnb?

Discussion in 'Buying & Selling Real Estate' started by JulianWilliams, Jan 21, 2015.

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    Jan 24, 2015
  1. JR Ewing

    JR Ewing Super Moderator Staff Member

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    I dabbled in buying units and renting them out years ago in a complex I had previously lived in. The complex has a large number of 2-story buildings that each have 8 units. I found out that I prefer more liquid investments, and that I don't care for the headaches that come with tenants, property maintenance and repairs, paying property managers mucho $, etc. But it can be a great way to make money if you have the temperament, and if costs can be kept under control and tenants are carefully screened.
     
    JR Ewing, Jan 24, 2015
    JR Ewing, Jan 24, 2015
    #11
    2. Jan 25, 2015
  2. crimsonghost747

    crimsonghost747 Senior Investor

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    Interesting. Just yesterday I was talking with another investor and he had a very similar opinion. He said, loosely translated: "From now on all my investment will be made with the mouse of my computer. Going to court multiple times for unpaid rents, receiving phone calls from drunk tenants in the middle of the night, running left and right to repair things, calling after tenants trying to figure out if they are just late on their payment or if they don't plan on paying at all only to end up in voicemail... from now on it's just shares/bonds where I click *buy* and that's it."

    I have to say that I agree. I'm not completely against renting out my previous apartment if I move into a new one but even in that case, if I manage to sell at a good price, I think I'd rather sell and throw the money into more hassle free investments.
     
    crimsonghost747, Jan 25, 2015
    crimsonghost747, Jan 25, 2015
    #12
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