Anyone have luck with renting places in large cities for the sole purpose of putting it on Airbnb
I had my guesthouse on airbnb in Los Angeles. When it started to get a 90% occupancy rate I was shocked. So I put my front house on airbnb and stayed at my girlfriend's place. The front house is at 80% occupancy while the back is still at 90%. It's mostly grandparents visiting their new born grandchildren, or people in between places while moving here.
I renovated my house 2 years ago, but I did so in mind for me to live there, not to rent out. After the money I spent furnishing and the remodel my cash on cash return is 16%. If I planned on this as a vacation rental I would have spent less and doubled my cash on cash return (more Ikea, less Crate & Barrel). So I googled "renting apartment to put on airbnb"....interesting
Anyone in biggepockets do this?
Two of the biggest companies right now, worth billions, are Uber and Airbnb, and they own nothing. San Francisco slapped Airbnb with back taxes in the amount of 85 Million. Airbnb paid in full. (an employee for airbnb gave me this figure, you can read more about it here http://www.businessinsider.com/airbnb-pays-hotel-b... ).
Home sharing, ride sharing, sharing in general seems here to stay. Sharing is caring. Anyone wanna share with the community if they rent places to rent on airbnb?