Airbnb in Annapolis?
Hey all!
Looking to see if any investors on here have Annapolis, MD Airbnb listings... From all the numbers I've crunched, it would be really hard to cash flow on a long term rental in a SFH anywhere near downtown Annapolis (using VA loan or up to 5% conventional financing to purchase the property- not 20% down). And it only seems to makes sense once you go further out and look at townhouses in the mid 200Ks in Cape St. Claire/Arnold. However, I have a very strong feeling that Annapolis would be a great place to have a full time Airbnb rental, as three out of the four seasons there is always something going on and there never seem to be enough hotel rooms available. If that's the case, it would change the type of primary residence I'm looking to buy with the thought of making a 'separate Airbnb unit' in the house while I live there and then list it as a full time Airbnb place once I move on (as opposed to a standard lease/tenant). From what I can tell on airbnb.com, there are certainly quite a few listings and my initial gut tells me it would make sense. Just curious if anybody has some experience with Airbnb in this market.
Thanks!