Short term rental general

[Anonymous No.7612158]

Everything short term rental and real estate:
>What real estate options are you looking at?
>What are your short term rental strategies and tips? Experience?
>Airbnb vs leasing
Been looking into strategies and looking at the market for short term rentals where I live. I live in a huge tourist city that thrives off the tourist industry. I've done a lot of research and looked at real estate prices for condos/homes as well as what other hosts are doing for short term rentals: Their prices, investments, location, etc

Been thinking of buying 4 condos for about 60-80k each and furnishing fully with smart locks and smart thermostats at about 15k/per condo for a total of 75-100k total investment per condo. After expenses and write offs I'm looking at roughly 25k/year profit minus the inevitable devaluation of the real estate itself. However since its going to be an income producing asset I'm not too concerned about the loss in real estate value. Should I buy now or wait until prices dip?

[Anonymous No.7612188]

>>7612158
What percent of the time do you think you can have the condos filled? I’m willing to bet maybe 50% of the time. Could be easier to hand them over to a rental company that will take 10% of the profits. I’m looking a few condos in Tokyo currently.

[Anonymous No.7612253]

>>7612188
Micro managing 4 properties will be tough. 1 property I know for sure I could easily fill as needed. 3 night minimum stay. Looking at 6/7 days filled per week no problem. 4 properties on the other hand will be hard because having to micromanage different people coming and going, cancelling, wanting to stay longer, having an issue, etc. I've looked into that. Found a couple companies that specialize in this field actually.

[Anonymous No.7612516]

>>7612253
Which companies are these anon? I am interested?

[Anonymous No.7612601]

>>7612516
https://www.pillow.com/ I looked into a while ago. Not sure if their rates or policies have changed much. Theres a lot of new ones that have sprung up in the last 3 years. I havent taken a serious look into one of them since I feel its very feasible to book your property and turn the place over in no time all by yourself.

[Anonymous No.7613170]

Every time I go on holiday (Auz/NZ) I just use the Airbnb app. I'm in Christchurch right now. Temporary or fixed term accommodation is obviously cheaper if you're willing to stay there longer though.

[Anonymous No.7613233]

>>7612158
similar situation here. be careful coz at the end of the day long term leasing might be better for you. remember that short lets you aint always full and short lets will damage place at a much higher rate than long lets

you might end up with same profits but with 10x the headache and damage to furniture and shit