Investing in an STR Business in Mexico
Summary
This podcast episode discusses investing in a short-term rental business in Mexico, including the process of buying land, construction costs, and operational aspects. Hosts can learn about the experience of running an Airbnb in Mexico and consider the financial and lifestyle benefits of investing there.
Key Insights
- •Foreigners cannot own property outright within 50 km of the coast in Mexico.
- •The host in the episode built a three-unit property for $100K.
- •The host has occupancy rates of 30% to 40% throughout the year.
- •The host charges $55/night in the busy season (winter) and $40/night in the summer.
Action Items
- ✓Consider investing in Mexico if you are looking for a lifestyle change and diversification.Effort: mediumImpact: medium
- ✓Research the legal framework for owning property in Mexico, especially if considering coastal investments.Effort: mediumImpact: medium
Tools & Resources
- →Get Paid For Your Pad: The episode is on the Get Paid For Your Pad podcast.
More from Getting Started
This article from GreekReporter.com reports that Greece is climbing the European short-term rental rankings. While specific details on the rise are not provided in this short article, this suggests a growing opportunity for hosts. It implies increased demand in the Greek market, which presents a dynamic opportunity for STR investors.
Ennismore plans to expand its hotel presence in India, with its first hotel under the Morgans Originals brand, Roswyn, already soft-opened in Mumbai. Following the Mumbai debut, the company plans to open a Hoxton hotel in Bengaluru and is actively exploring further expansion opportunities, recognizing the market's readiness for a luxury lifestyle product.
The short-term rental market's growth is slowing, according to eKathimerini.com. This shift may affect occupancy rates and revenue for hosts. Understanding market trends is crucial for adapting pricing and marketing strategies, ensuring continued profitability.
Curated by Learn STR by GoStudioM