Choosing a market for AirbNb
I’m a south Florida Realtor looking to make my first investment. I can find the properties. My main challenge is deciding on which market. Any tips on evaluating different markers? Stats on growth? Etc.
Hey Janise,
Welcome to BP!
Well as you might now all Miami are is on fire with Short Term Rentals so basically almost everywhere you will cashflow. Now do your research before pulling the trigger.
I will stay away from Miami Beach area since they have tons of restrictions on STRs.
I hope that you find a good place to do your AirBNB
Hi Janise, it depends on your goals....Are you looking for a long term buy and hold? STR? Fix and flip? Are you thinking MF or SF? etc. In my opinion, whatever you pick, make sure it cash flows and don't depend on appreciation only.
Hi Jenise,
I'm in the process of trying to apply the same strategy in South Florida. I've been looking at Edgewater and Midtown. AirDNA likely has useful data but I haven't fully reviewed their offering yet. Perhaps you'd be interested in a phone call to bounce ideas?
-Jake