Looking into getting a short term rental in Oakhurst, CA
I have no property under my belt. I found a property 3bd 2br listed for $340K in Oakhurst, near Yosemite. would it make sense to do the 5% down as house hacking and run it as an Airbnb? I am nervous about not getting a cash flow. I am also looking into around $100K with 15% down for long term rental in other states. What would make sense to start as my first rental? short term or long term? Look forward to your input!
Given that you talked about owner occupied financing at 5% down to house hack, are you planning to move there and occupy one of the bedrooms while your guests use the other rooms? Unless I’m missing something I don’t see how the math works for that strategy because you’d need occupancy 365 days a year at about $75 a night just to cover the mortgage, let alone other expenses, and private rooms don't seem to go for much more than that.
Hi Nathan,
You were right. It would not make sense number-wise. i was hoping to occupy one room and do Airbnb with the rest. thank you for your input! long term seems more possible in this sense.
