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I Bought An Apartment To Rent Out On Airbnb

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Re: I Bought An Apartment To Rent Out On Airbnb

#111

Post by conanbatt »

rubyrescue wrote: post #8

That's roughly a 25% annual return. nice. We're renting out our place in Buenos Aires. We're clearing 10% return and I use it when I go back there to meet with the team. Stays about 80% -90% full, great location. Guests love it. My wife (who doesn't work full time) manages it remotely. It's been a very positive experience and my takeaways are similar to the writer's. It's not passive income, but it's steady...

Would like to know more about this as an Argentinian!

Airbnb prices are so steep in buenos aires, how does it make sense for tourists? Even Zonaprops has way cheaper places for weeks and such.

In argentina Airbnb is not going to get regulation issues ever..

Would you mind if i gave you my email? Plus we might know each other already.

Re: I Bought An Apartment To Rent Out On Airbnb

#113

Post by camus2 »

tedunangst wrote: post #96
tptacek wrote: post #81

Exactly what is the difference between what this person is doing and running an unlicensed extended-stay hotel?

They're disrupting an obsolete industry.

Oh , yeah , "DISSSSRUPT" ! the new startup leitmotiv.

that gives them or any "DISSSSRUPTIVE!" startup the right to break the law , doesnt it ? as long as it's on the web , anything goes,hey...

Re: I Bought An Apartment To Rent Out On Airbnb

#115

Post by Symmetry »

_pmf_ wrote: post #95
atwebb wrote: post #82

Earlier quoted context omitted.

I'm not sure that residential/commercial zoning laws in US states falls under the umbrella of general knowledge.

There's nothing US specific about zoning laws. They most probably preceded the founding of your silly colony.

The first modern zoning was in 1916 in New York for height related reasons. Great Britain didn't start zoning until 1947.

EDIT: I was sort of surprised that was the first zoning, when I just looked it up. I always mentally associated zoning with 1920s progressive social engineering.

Re: I Bought An Apartment To Rent Out On Airbnb

#116

Post by umsm »

_pmf_ wrote: post #62
rll wrote: post #45

Earlier quoted context omitted.

There are a number of reasons. Most states have laws regarding how temporary rental properties (otherwise known as hotels) are zoned. You can't suddenly turn a building zoned for residential use into a hotel without getting it re-zoned. Also, NY specifically worries that it will change the local housing market. If investors buy up enough local properties and turn them into mini hotels, locals may be priced out of the…

It's a bit sad that you have to explain this to grown up people.

These people are investors. Investors usually look solely at the money instead of the effects or consequences.

Re: I Bought An Apartment To Rent Out On Airbnb

#117

Post by johnmurch »

pallian wrote: post #15

Thanks for posting this. I've been debating getting one of these micro homes ( http://www.indiegogo.com/projects/nomad-micro-home-easily-as... ) and setting it up in Whistler to do exactly the same thing as you are... Airbnb it year round.

I love these design/idea. I wonder if you could setup micro-condo living or "ski bum" living by buy a few of these and small parts of land. I could also see something like this being ideal for a small beach house getaway as you won't be out $XXX,XXX or even MM if it gets taken by a hurricane or storm.

Re: I Bought An Apartment To Rent Out On Airbnb

#118

Post by elliottcarlson »

larrys wrote: post #110
andrewfong wrote: post #101

Earlier quoted context omitted.

It also prevents a legal and valid use-case -- renting out your couch every night of the the year. So long as you still live in the place yourself full-time, this isn't illegal under most municipal codes.

"So long as you still live in the place yourself " A way to game this might be to: 1) Buy a place 2) Rent out 1 room full time to someone who agrees to #3 in exchange for below market rent. 3) Rent out the other room or rooms.

This was the case at a place I stayed at in Boston - the place was a 3 bedroom apartment, 2 bedrooms were occupied by long term tenants, while the room I was in was exclusively for AirBNB.

Re: I Bought An Apartment To Rent Out On Airbnb

#119

Post by pbreit »

rll wrote: post #13

If enough people do this it will be the end of Airbnb. This is one of the patterns the state of NY is using against Airbnb while Airbnb is arguing that the service is intended for people occasionally renting out their primary residence. If the state is able to prove a significant number of people used this model Airbnb is done in NY and I fear other states will follow.

Perhaps in some (or even many) jurisdictions but isn't this just plain ole "Bed & Breakfast" (you know, the BnB in AirBnB) which has been around since forever?

Re: I Bought An Apartment To Rent Out On Airbnb

#120

Post by mathattack »

I think this is great. Vegas is the perfect spot. It was overbuilt, there is lots of extra supply, and lots of tourists. Great they made it happen.

I would think there are two dangers:

1) It can take a lot of time, and time is money. If you make 200K/year, your time is worth ~100/hour. Spending 100 hours on this takes away a 10K profit.

2) You are the on the hook for big surprises: Theft, something breaks, etc.

But again, great for the OP!

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