Hello,
I wanted to get some thoughts on a topic --- My wife and I are close to purchasing a 2 bed 1 bath very close to our current residence. Figuring to renovate and beautify it either way.. would make it a (Sleep 6 ( 2 queen beds, 1 pull out sofa).
Very hot airbnb area, No hotels, and many things to walk to.
We are currently listing our primary residence (3bed 2bath) for about $200/ night on weekends and rent big weekends for about $4-500 / night. (Probably 6 weekends a year we could pull this)
Revenue in 2016 was ~$6700 -
2017 is ~$6500 (Did less days this year)
We think that if we renovate and furnish the new house --- we may be able to swing a full time Airbnb and cover expenses + Profit.
My question is
1 - can someone give me feedback on weekly or monthly rentals? Success + Rates?
2 - Is this a viable idea carrying a $1100 / month mtg payment + ~$270 in utilities + Internet. -- Say clear $1500 / month
------- we would probably be able to rent this for about $1500-1600 / month to tenants, but on big months (6 summer months,, we can probably clear about 2500-3000/month at $100 / night weekdays - $150/night weekends.
I am considering running a monthly test case on here to see if this will work based upon trying for 6 months.
Thank you for your help
-David
