AirBNB Starting Out in Canada!!
Hey Everyone!
It is a beautiful morning In Vancouver, B.C
Hope everyone is doing well. Just creating this post to hear some of your guy's stories about how your start-off process was when you started doing your first Airbnb rental.
lol I will take any good or bad stories! Also any wisdom learned along the way :)
Tom Glamuzina
Hey @Tomislav Glamuzina We have recently embarked on short term rentals in Florida, Costa Rica and Mexico. Being a prodominently long term rentals investor, it was a little starnge at first analysing these deals. However just like anything else, once you do it enough times, it becomes second nature.
Very Cool 😁 Florida, Costa Rica, and Mexico all sound very warm and I love that haha. Did you have any issues figuring out how to manage STRs from a distance with a company or did you manage to set up a system to do it all yourself?
I am actually planning on buying a condo OOP in downtown Calgary, Alberta. I Traveled there not too long ago and definitely loved the downtown district. The purchase price is also significantly lower, which is nice.
For STRs that are not relatively near, do most people tend to go with a managing company or try to manage it themselves? I'm sure some good systems can be set in place to make sure everything is all kosher... even if accidents/mishaps happen lol
Hi everyone, I'm very interested in real estate investing in Canada. Just starting out looking to learn from everyone. I'm in Calgary AB. I want to build a community for Canadian investors, started a subreddit the other day. Let me know if you guys are interested in joining. Nothing in it yet, but figure gotta start some where.
@Melanie Dupuis I'm also looking at STR in Costa Rica. Do you know the language or what's your method of getting around Spanish? Not sure where to start in that journey
@Sailin Li Language has not been an issue at all for us! There are so many expat's there.
@Melanie Dupuis haha just realized you are from NorthBay. I was there not too long ago as well, a very nice place I personally thought. Has that market been pretty favorable to you? I was thinking of a vacation home lol
@Tomislav GlamuzinaThe market has gone up here, however it is still a very high cashflow market! You should buy a vacation house on Lake Nipissing or Trout. We personally have a cottage on Trout Lake.
@Melanie Dupuis That's awesome to hear. I will definitely look into those places as well. I am hoping to have the time this year to plan a road trip and get to explore the area more. Thanks for the recommendation though!
For the Short term rentals that you have set up, did you first start off managing them yourself or did you get a management company?
Would also like to know that answer. I feel like short term rentals is much more of an active investment.