In this video I go over the major pros and cons of short term rentals.
1) You don’t have to own the property
2) You can outsource everything
3) The ability to make more cash flow
1) You may not own the property
2) Damaging your property or the Riff-Raff it may come with
3) It’s work
The major pros and cons of short-term rentals is a very long list but let’s go ahead and start with arguably the three most important pros and cons and number one as far as the the major pros for short-term rentals is the fact that you don’t even have to own the property in order to manage market and ultimately make money because you can do different rental arbitrage or you can also worked out with the the landlord or even potentially a partner where you can do a co-host where you’re just doing the management or the marketing so number one pro of short-term rentals is the fact you don’t even have to own the property.
So if you have bad credit you don’t have any idea how to secure a loan or go through the purchasing process or you don’t want to manage contractors to fix the property up that is the number one pro the second benefit of short-term rentals is the fact that you can outsource everything so if you don’t want to do the management you don’t want to do the marketing you don’t want to have to deal with the day-to-day guests checking in checking out dealing with cleaners as you can outsource that to a local short-term property management company that has way more experience and ultimately way more resources than you may have the third reason why I love short-term rentals and you should too is the ability to make more cash flow real estate’s designed to help you build short-term and ultimately long-term generational wealth but if you’re able to create let’s say 20 of your portfolio to be short-term rentals that can take your rent from let’s say 1500 a month that you would rent it out to for 12 months to attend it to you may be able to make 1500 a week on a short-term rental without having to do any of the work and or even owning the property now those three pros in mind.
There are cons of short-term rentals number one is the fact that you may not own the property right so you may not be able to do what you want to do to the project to be able to increase the nightly stay and or you may not be able to own the property and have loan pay down and build equity in the property or be able to raise private money to 100 finance the deal now keep in mind whether it is a pro or a con successes and failures I designed an entire Airbnb income accelerator program which if you look below this video and or click the link in my bio you can learn more exactly how we can help you find fund and manage your first or even your next property but let’s get back to the cons here.
The second con is the riff raft right you’re getting people that you are potentially not doing background checks on you’re not doing credit checks on you’re not doing income checks on like you would with the long-term tenant right so people that are coming into your property and they are only going there to basically party in the city that you have your Airbnb so the riffraff could lead to potential you know issues with damaging the property or bringing in the legal side right if you have to bring in the police if there’s an altercation.
So the second major con is damaging your property right or the riff raft that it could potentially come with based on the guests that are staying at the actual property and last but not least the final con is its work right at the end of the day investing into real estate is not really a good fit for most people right it requires an entire team over time and or people that you trust and that you know and ultimately again time to actually run a business to consistently find deals to get supplies for the actual property to find cleaners to be able to get proper handymen to go fix the property when things go wrong and so that is the the final and arguably the major con is look real estate is a business.
So it is going to require effort but again the good news is is we can help take all of that work off of your plate regardless if you have minimal to no time even if you have no money and or you have zero experience again I designed our Airbnb income accelerator program to help you find fund and manage start to finish all the systems processes and automations are included in the program and we’re going to coach you step by step how we built a seven-figure portfolio and ultimately how you can do the same so click the link below and if you guys got value from this subscribe to the channel and send this video over to somebody that is considering starting and scaling a real estate portfolio