Should I buy a condo & short term rent it out in KC?!
Hey y’all - my wife and I booked a staycation on air bnb in downtown KC to get out of the suburbs and hang for the weekend, and I thought to myself…
Why don’t we buy a condo and do this ourselves?!
My mind is spinning on the topic, but wanted to see if anyone with Midwest/KC specific knowledge had any wisdom to share.
Some of my questions:
> Is there enough of a market to buy a condo downtown in Kansas City and short term rent it?
> Is the market over/under saturated for something like this?
> How do I do an analysis on a property in my city to know if it’s viable or not long term?
Little about me…currently don’t own any real estate, live in KC suburbs about 30 mins outside of downtown…been wanting to get in the rental game in some form/fashion— have about $30,000 stashed to put down on a property as of today, no other debt with a good credit score.
Any advice would be so greatly appreciated!