New to Real Estate · Henderson, NV · Member since 2019 · 7 posts · 0 votes
I am a veteran that plans to use my VA loan to purchase my first investment. I was wondering if I should purchase a house with ample amount of bedrooms to use as Airbnb or get a Multi-family and rent long term?
Specialist · Riverside, CA · Member since 2015 · 6k+ posts · 3k+ votes
7y
Depends on what you want to do. All else being equal long term rentals are far easier to manage and are much more consistent over time than an Air BnB would be. Also with long term your investment won't be legislated away on the whim of the city you live in.
Investor · Chicago, IL · Member since 2016 · 1k+ posts · 930 votes
7y
In any short-term case, short term rentals is best. You can hire managers who manage short term rentals. Your income potential is higher, depending where you live. In Chicago, you make a killing in the summer, but visitors in the winter are scarce, unless your bnb is close to downtown or an airport.
In any short-term case, short term rentals is best. You can hire managers who manage short term rentals. Your income potential is higher, depending where you live. In Chicago, you make a killing in the summer, but visitors in the winter are scarce, unless your bnb is close to downtown or an airport.
I'd love to hear about your experience with STRs in Chicago. I spoke to a few realtors on the topic and they voted against it due to city regulations. Can you tell us a little bit about your experience, the type of properties you have available for this, location, etc?
Realtor · Tucson, AZ · Member since 2018 · 55 posts · 18 votes
7y
@Ralph Ramos
I'd opt for buying a multi-family. Live in one unit and AirBnB the other unit. You can always put a long term tenant in the unit if you don't enjoy the STR business. Unless your city has strict regulations it's a no brainer for us. You can harness significantly more rent running a STR over a long term tenant.
Realtor · Tucson, AZ · Member since 2018 · 55 posts · 18 votes
7y
@Ralph Ramos
I'd opt for buying a multi-family. Live in one unit and AirBnB the other unit. You can always put a long term tenant in the unit if you don't enjoy the STR business. Unless your city has strict regulations it's a no brainer for us. You can harness significantly more rent running a STR over a long term tenant.
Investor · FL · Member since 2017 · 247 posts · 245 votes
7y
@Ralph Ramos Good question. I have had both and I prefer multi-family assets. It really depends on how active or passive you would like to be. My short-term rental experience had higher ROI, but it became a job for me. I chose to take a lower ROI and have freedom over my time. Best of luck!