How to Invest in an Airbnb From Out of State
There are plenty of reasons to think about investing in a short-term rental property out of state.
You may have been considering buying rental properties and then started seeing the comparison of long-term vs. short-term rentals.
From a purely financial perspective, you will want to choose a market with strong rental demand, low demand for property, and good prospects for property price and rental demand growth.
How to Select a Market
It is crucial to accurately estimate what your expenses will be to make a sound investment decision.
Unlike expenses, it will be harder to project the revenue for a short-term rental. What you can do is get close. An estimation. A projection based on other factors.
Short term revenue boils down to this equation: Revenue = ADR (Average Daily Rate) X Occupancy
The Revenue Calculation
The decision to self-manage or hire a professional can depend on how much time you want to invest in your investment systems.
Self Manage or Hire Property Management
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