Short Term Rentals (Airbnb) Buying vs Arbitrage
Hello Everyone -here from NYC - My husband and I are considering the short term rental / vacation market as our new real estate venture after he retires (1-3 years from now).
In the meantime, we have our sights on a couple places - Tampa and Myrtle Beach, where we are considering relocating to.
however, I would like to get my feet wet and get started now on the arbitrage route, renting out apartments near by me in NYC to sublet via Airbnb/VRBO platforms.
Our plan is to become “Snowbirds” and keep a footprint in NYC, and we are also considering Airbnbing our current 3B/2B home when retirement comes. But with all the laws and taxes we’re not sure if that will be worth it.
Airbnb arbitrage vs Not? Does anyone in the short term rental market have any words of wisdom regarding the pros or cons of arbitrage vs rental of their actual/owned property in the NYC area? Or should we just scrap the whole NYC idea and get started on the South?