Newbie here, looking at purchasing my first investment in NW Reno and planning to go the Airbnb route. Would this be advisable given the situation? Any other advice?

@Pamela Surjadjaja

Congrats on making the leap. I think everyone would agree run your numbers. Some people use short term rentals as a strategy, so it is up to you to determine will it help you achieve your goal. Will it book up fast enough? Is turnover expensive or a headache? Is cashflow reliable? Do you get the same tax advantages? Are their local government regulations that you need to consider?

Every market has a strategy that works. Reno is a hot hot market right now. Find one that works for you and your numbers and move fast!

Hi Pamela,

Congrats and excited for your journey! I am curious, why are you choosing the airbnb route? Is there a reason you don't want to focus on long term tenancies in this area?

Originally posted by @Isabel Foley :

Hi Pamela,

Congrats and excited for your journey! I am curious, why are you choosing the airbnb route? Is there a reason you don't want to focus on long term tenancies in this area?

Thank you! It was based on a couple of reasons. We wanted to use the property at times, and also wanted to make sure we meet a $200+ positive cash flow. With those in mind, it seems the Airbnb strategy made the most sense (at least in NW reno). I might wrong but that's our thought process. 

Oh, interesting! That makes sense. I imagine many people are airbnbing these days with the ability to WFH. Reno seems like a good place to WFH since we have many recreational activities (ski/snowboard/hikes), all the typical shopping/stores (whole foods, trader joes, coscto, 3 big malls) and of course nightlife at the casinos. Reno is a fun town for adventure tourism and has everything you need. If you have questions about the area, I live and was raised here, as well as Tahoe. so don't hesitate to reach out.

 I am planning to use buy and hold strategy, making sure i meet $200+ positive cash flow similarly. 

Do you use a  property manager for arbnbs, or how does that work if you don't live in the area?