Updated over 4 years ago on . Most recent reply
What do you think of this strategy?
Hi All! I wanted to know your input on this strategy, I've done a couple of small projects, dealt with tenants etc. and also have a w2 job which I want to quit and do this full time.
Instead of purchasing one big hotel, I want to purchase small duplexes, triplex and fourplexes and airbnb them (it's allowed in my area). To keep funding the next purchase, I want to refinance the previous purchase and go into the next one.
However, is this overleveraging even if it's in the correct locations? Can the income from this replace a w2?
Is airbnb a long-term strategy or short term? How do I know if I can pay myself a salary from this?