Updated over 4 years ago on . Most recent reply
Selling residential property to purchase AirBNB
Hello all,
We currently have a residential investment condo at a value of $115k and are looking to create 1031 exchange to purchase a new investment property. We prioritize high cashflow so we were thinking of possibly going into AirBNB. Would anyone know of which cities are good for AirBNB or if it is even worth it right now due to COVID?
Thank you,
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- Qualified Intermediary for 1031 Exchanges
- St. Petersburg, FL
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@Steven Gudiel, From where our clients are moving, the Panhandle of FL, the Smokey Mountains, and the Shores of South Carolina, along with maybe Gulf Shores AL are all pretty hot vacation rental areas in terms of volume and net revenue. It's the combination of affordability and desirability that will make any area work.
- Dave Foster
