I'm trying to start a non-owner occupied STR business through AirBNB (rental arbitrage, no mortgages) but it seems like regulations and ordinances are popping up all over the US day-by-day.
What's your best advice in terms of choosing a city to start a business like this?
I'd love an online repository with current regulations across the country, but I can't find anything. I have no problem scouting out the individual cities I'm eyeballing and seeing what their stance is on their websites, but (1) some are very unclear and (2) I'm afraid to invest in a city that may put laws in place shortly after, stopping my strategy in its tracks (e.g.: anyone who invested in Nashville 1-2 years ago).
While there isn’t one list of all the cities that are STR friendly as it would need to be updated multiple times a day. I think it’s a process of what you are looking to get back as a return on your investment, how many properties you are looking to have in one city and you also need to be able to find landlords who are open to doing rental arbitrage.
We work with both owners of properties and clients like yourself who are investing in different markets. Feel free to DM me and I can share some more insight into prospective markets based on your specific requirements.
@Account Closed thanks for your reply. Specifically, I'm looking to make 50-70% of any property's rent through arbitrage and actively managing it as a STR. The problem I keep bumping into though, is regulation and zoning issues when researching different cities. I don't mind being in a city that's not in the top 5-10 for STR profitability as long as I don't have to worry about potential legislation nightmares.
Happy to shoot you a DM, but don't want to bother you with rental arbitrage STR questions since it seems like most people on here are buying.
I do management, rental arbitrage, purchasing, and everything in-between. I have a few cities in mind.