Air B&B strategy in commercial buildings?
Hey all:
One thing I've been working on lately has been researching Air B&B. It looks like it could be lucrative IF you have a niche, you pay the right price, and work and stay on top of bookings.
One thing that I think would be a good strategy is purchase commercial properties that have an upstairs apartment. These buildings tend to be older. Some jurisdictions prohibit or restrict this in their zoning....BUT if you can get around all of that, I think the upstairs apartments might be perfect for AirB&B...
You would not have neighbors complaining about people coming going, different neighbors every week...and on and on. It is kind of an isolated place, but not too isolated. Just isolated enough that it does not bother/disturb the neighbors.
Another consideration would be what type of business is below the apartments. Ideally, you would want something that is quiet, low key, and maybe upscale? You most certainly would NOT want a liquor store, bar/restaurant with loud music, strip club, or anything like that. Low key offices might be best?
Finally, I would think these apartments would trade on the market for a discount, as people with children/families would NOT want to live there, as there is no backyard.
Not good for families but good for AirB&B?
Anybody have any experience/thoughts about this?