Where to buy?

[Carolina26]

Hi everyone,

I'm looking to buy a property as an investment to rent with Airbnb. I'm looking for your suggestions based on all your experiende for which region to buy, condo vs house, and how many rooms tend to be more popular. Any bad experiences with specific buildings not allowing Airbnb? 

Any tips, suggestions, opinions are valid. 

Best,

Carolina

[Carmen-And-Jim0]

I would suggest more centrally located areas for sure just look at the airbnb map and it pretty much shows you that corridor. I condo on the beach will get a lot of traffic but you have to b real careful to read the by laws regarding short term rentals. I would look for a home listing since you can rent diffrent rooms or the whole house.

[Ricardo71]

I would not ever buy anything WITH THE PURPOSE of renting with Airbnb.  Buy something that is a good investment , period.   Airbnb thuth be said is facig fierce push back from communities having local population bein displaces, unhappy neighbors and hotel associations. Shared Economy is something the local governments have not being able to regulate but it is coming.    Airbnb is not going to be there to support you when you are in trouble.  At the end of the day they are not the owners of the properties, they are not the talent, they are not the host.  They are a platform.   Period.  

Buy something tat is a good investment even when Airbnb is not in the picture, so that when worse case scenarioi happens you can flip it or rent long term well.

Also, I advise anyone to list in other platforms as well.  There is VRBO, Flipkey and lately Booking.com that works wonders becase the guests are less cheap and less hassle.

 Airbnb is ruthless should tere be any dispute oor misunderstanding and for wha I hear and see thy turn against their own SUperhosts without even an explanation.    They will say they are not obligated to give anyone any explanaions.   So buy a good investment and list in a couple platforms. 

Trust me on this one.  I am a Superhost with 180 glowing reviews and I am not feeling the love lately.

Host responsbly, good luck

RIcardo

[Victoria195]

Hi Ricardo,  I just bought a unit with the purpose of airbnb.  It is a good investment though.  But less profitable if I can not do airbnb.

Apparently the association is not bothering, but some neighbours are.

Do you know where can I get a defense to do airbnb if the condo bylaws don't restrict in any way?

Condo bylaws are from 1964 so,,,  you can  imagine..

Is any specific restriction in the city of Miami dade or Bay Harbor Island?   that they can stop me to do aibnb.

thank you so much.   

Victoria

[David126]

Most Condo's do not allow short term rentals, nothing new about short term rentals. So the first thing would be to double check the Association rules, unlikely to mention AirBnB.

On the issue of Miami there have been quite a few threads about this in this forum, from ememory it depends on your zoning and it is not cheap or easy to get approval.

[Unal0]

I just want to add to your point to advertising on other networks, such as VRBO, Flipkey, Booking.com etc. I have several apartments in Montreal and B&B and a rental aparetment in Toronto. I have been in the field since 2008. I have to admit that VRBO or Homeaway, which are the same compnay the worst. Zero customer service, I have accepted only two bookings from them and turn out that their credit card was dublicated, so VRBO end up charging back the entire amount, yet one of the guest trashed the apartment and the second one also trashed and stolen a air prufier, an iron and a hair dryer. I rent in Montreal for longer term (1 to 8 months ), both guests stayed for a month and somehow VRBO realized the cards are fake after they left. Flipkey and Booking.com not too diffrent. A guest/thief stolen a LCD TV , which came over booking.com and they did nothing, also card was dublucated too. I barely have had problem guest coming over from airbnb.  Nothing stolen and they always aid the amount. This is my experince... 

[Julio37]

Hi Carolina,

My wife is realtor and currently both fo us are managing properties.. if you are interested you can contact her and see whats the best option for your need.

Thanks,

[phone number removed]

[Karym0]

Carolina

The golden rule is location but location is very pricey in Miami. Cotact me to offer you a choice of alternatives. 

[_EmailHiddenBy2]

Contact a realtor in Miami/Broward area for listing details. millennium Real Estate is reputable company 

[Alex408]

Good Morning Carolina. If you are still looking for a sound investment feel free to reach out info at gablesneighbors dot com for sound advice and assistance on options

[Denise-Penel-and-Scotty0]

Caroline

Consider Newport RI. I live and work here and am an agent with Berkshire Hathaway Homeservices 208 Bellevue Ave Newport. Our city exploded with summer activities, festivals and beaches. BnB are in demand.

[Pat-and-Cindy0]

Wondering how long your season is there in Newport?  Here at the Jersey shore, we have about 10 weeks that I can rent full time and maybe weekends only tagged on either end.  

In my research, RE invoestment advisors say vacation rentals- Airbnb or otherwise, need at least a 17 week season to be profitable.  

We made a bunch of money this summer- a first here at the Jersey Shore- but we rented rooms in our home- not a seperate Airbnb Property.  I don't know if I could make a profit doing a vacation rental

Any thoughts you might have, since you are in a summer market? 

Pat

[Sonia-G0]

Hi,

I was also studying to invest in this alternative, but I have a restricted budget.

I found this interesting post with the buildings that allow Airbnb in Miami area https://www.condoblackbook.com/blog/miami-condos-that-allow-airbnb/

I’ve seen the Bayshore Yacht & Tennis Club in Northbay Island as an interesting option (not that expensive). I’ve seen several rentals in Airbnb in this building. Does anybody know if it is a good building option (although a bit old and not on the beach)? Is it a good condo? 

[Rod-and-Paula0]

Hello Dear, 

  I have 2 condo-hotel apartments on Airbnb for 2 years already and I am Super-Host, and I'm looking to sell the whole operation, please let me know if anyone is interested, over 120 reviews, reservations all the way till April.