STARTING OFF WITH AIRBNB RENTAL? FIRST TIME INVESTOR
I was recently listening to the latest podcast episode of BP (#229 Early retirement through short-term rental properties) and it kinda of struck a cord with me. The idea dawned on me that I could possibly rent a condo or apartment in a nice area of Miami (close to the areas where the tourist come for like the beach, downtown, bayside, brickell, wyndwood) and actually rent it out on Airbnb in hopes of making enough money to pay the lease and then some as Zeona mentions she did in the past. Now, I'm not an unrealistic person and I know that not all formulas work the same for everyone, but I figure why not at least ask on BP to see if anyone has done this in the past and can offer some advice?
SO, The idea in short terms is, lease a nice apartment or condo in a central location close to the hot spots of Miami, put the place on Airbnb and POSSIBLY be able to pay for the lease as well as some cash flow. Any suggestions? advice? anything would be greatly appreciated.