AirBnb / investment / hotelroom
Hello, we need a opinion. We have 2 AirBnb condos, which is doing decent job in this times. We are trying to expand and our attention stop on hotel/ motel unit. Which is kind of cheap compared to condominiums. Is it even worse to get involved with the motels? Is it good investment?
The unit have to be purchased in cash, would it hold the value or should we jus walk away and use the money toward down payment on condominium
Unit is old and will need renovation, couldn’t find many reviews about motel. The last review was like 8 years ago and not really positive. But it’s location is in busy area.
Thoughts ..thank you
Most Popular Reply
@Maria Merkulova given the recent COVID-19 concerns about social distancing, we have avoided hotel/bed and breakfast purchases this year and opted to buy large single homes with land and ‘pimped’ our amenities to make it fun enough to stay on site (eg home theatre, game rooms, pool, spa, etc.). This strategy of course is more or less appropriate depending on the market. We’ve reasoned that if people continue to need to hunker down, we want to offer isolation in style.