What do you think is better? Airbnb or and actual tenant? I feel that airbnb may be more lucrative, however you got to hope people are signing up to stay in your place. On the other hand with a tenant you will always have steady monthly income.
What are your thoughts?
I have a friend who has 4 short term vacation rentals in Coeur d'Alene, Idaho. She makes a ton of money doing STR during the summer and during the winter she leases them furnished to travel nurses. She is making more money on her rentals than being a nurse. It is all about location.
They're as different business models as flipping and B&H. If you want to invest in the furnishing and have the time for management then go for it, assuming there's a demand. I get the impression it really needs to be pretty high end to outsource all the management and still make more money. If I ever get bored after I finish renovating and re-renovating my properties I might give it a go, there's a number of them listed in my neighborhood.
In Sandpoint, ID which is 45 mins north of CDA, Airbnb's are makin a killing. To the point where there's a shortage of long term rentals because everyone is Airbnb'ing. You now have to get registered as an Airbnb place there with the city and hand your license on the door
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