New Property

[Justin1955]

Hi all, I’m looking for any helpful information on how to break into the Airbnb business. My questions are how did you obtain a property, if you live remote to that property, how did you set up reliable management while you’re away and cleaning services?  

My wife and I want to purchase a property to start renting it out as another source of income. Can you do business loans for this or did you use your own savings. Any information would be greatly appreciated as we start this journey. 

[Helen3 · Accepted solution]

It depends which country you are in.

Firstly check if there are any STR regulations in the area you want to buy in. 

check with a mortgage broker as to what mortgage you will need

do a profit and loss budget to identify likely costs and likely income to see how profitable you are likely to be

you can hire a local management company to manage things on the ground 

@Justin1955 

[Justin1955]

Ok thanks for the information!