I live in NJ but husband and I visit Portland, ME every year (he loves Maine breweries). We always stayed Airbnb in Portland downtown (west end to east end). So I thought may be we can buy a condo and do Airbnb and we can use the condo when we drive up. Property and property tax are slightly cheaper than where I live.
What do you think about this plan? Is it a terrible idea? Is there any management manages Airbnb?
Thank you in advance!
Updated almost 3 years ago
How about regular rental market in Portland, ME? Multifamily? After reading the article, I feel bad to push out long term renters.
Terrible idea, market is saturated and the rules are constantly changing up here. Personally wouldnt do it
Portland is gearing up to crack down on STRs, so I wouldn't bet on that plan for the long term. See recent article in Portland Press Herald: https://www.pressherald.com/2018/08/20/short-term-...
Safer route is to continue to rent. Unless you'd be open to considering communities outside of Portland/South Portland.