A lot of "Air Bnb Ready" properties for sale ...

[Riaz Gillani]

Has anyone else noticed an increase in properties that were previously used as an STR for sale? (often times with the furniture included)

Normally I'd default to inflation and subsequent market uncertainty. And that may in fact be the cause. But, with the chance to make 4x what an LTR would otherwise make ... there must be something else brewing.

Now consider this: NYC currently has more Air Bnb listings than it does apartments for rent - putting a downward pressure on daily rates even though home values continue to increase. 

To me it feels like too many people jumped into STR, underestimated the difficulty in making it work in a reproducible way and had one of those harsh learning experiences.

If this is true - where do we go from here? Would you consider buying an STR property that was previously unsuccessful? How much stock do you place in your / your team's ability to increase reservations?

[Lisa Graesser]

I think STR's have been glorified by many. With many people jumping in to try and make a fast buck, not realizing all the work, effort, time and hospitality required. Those unprepared and not willing to give what it takes will fail even in a good market. So yes, if knew the market and know that others are operating successfully I would definitely purchase a previous unsuccessful STR.