Rental that you can live in 2 days a week?

Question

Hello,

I am currently driving 80-90 min into north Atlanta for a new job. Im not quite ready to sell my home, but instead looking to invest in a townhome/condo that I could stay in 1-2 days a week and air b n b or short term rental.

Is this strategy feasible or do townhomes allow for short term rentals that you can also stay in if and when needed?

I’ve also thought of a small house to house hack but not sure that would be profitable until paid off. I

I know there are rules and regulations on Air b n b but would love suggestions on how to approach this situation. Thanks!

Colleen F. · Answer

@Jon Hundley you have a couple options. Rent as a one bedroom only when you aren't there and lock off your room. Rent as a two bedroom and vacate completely each time you leave. If you are always gone on Weekends could be a good fit. Consider if the association lets you STR and if they let you use electronic locks so you don't have issues getting keys to people.

Leslie Anne Morris · Answer

I’d get an investor friendly agent in that area and tell them about your plans. There’s an agent finder feature here on BP

Andrew Simms · Answer

@Jon Hundley got it. I do not have any properties in Cobb County but do live here.

Paul De Luca · Answer

@Jon Hundley

Many HOAs for townhomes and condos don't allow rentals, so you will want to talk to a few investor friendly agents in your market to determine if you plan is feasible.

Chris Henry · Answer

Conceptually, renting your townhouse/condo 5 days/week should work. As Paul said, make sure you buy a rent friendly unit. You’ll also have to work out a system for securing your personal belongings, and I would have the cleaners go over it when you leave just like any other guest. But overall, I see no reason you couldn’t make your home available for rent 5 days/week and use it the other 2.

John Underwood · Answer

Absolutely.

You must make sure that any HOA will allow this and that your city and county will allow it.

A SFR house would likely be less restrictive than a condo with an HOA.

Then you just block out your days so that they can't be rented.

Eliott Elias · Answer

Rent where you live. Don't waste your cash, be somewhere you don't have any obligations to. Use the cash to buy a flip

Jon Martin · Answer

Absolutely agree with this. Keeps the cleaning simple and cheap, and ensures that your room is exactly how you left it and your belongings safe no matter what happens.

Plus weekends are going to be your bread and butter anyway, so this strategy could work great.

Jingru Sui · Answer

Smyrna has it’s own short term rental restriction. Different than city of ATL. I think you can rent out no more than 180 days out of a year..(please don’t quote me on that but i think they have a day limit on how many days you can rent out and also need a permit/license) however i think that’s a good step towards normalize short term rental.. you might be able to get SFH under 400K without HOA. Treat it like a hotel. Hired a good cleaner that will also help. I use to live in Smyrna and have properties there that I’m doing long term rental. About 10 yrs ago when i first start investing and i did Airbnb in one of my bedroom. We got plenty of people come stay couple days out of a week to help with commute. Hope this information helps! Let me know if you need any help finding this property. I’m an investor/ PM and Agent!

Michael Baum · Answer

Hey @Jon Hundley, what about a duplex/triplex/4 plex? You could have one set aside as your place to stay and rent the other units. Either long term or short term.

Rental that you can live in 2 days a week?

Rental that you can live in 2 days a week?

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