Pros and Cons of Buying Existing STR Properties
Summary
This article discusses the pros and cons of buying existing short-term rental properties, with insights from a specialist who helps investors find them. It covers market trends, revenue potential, and strategies for evaluating properties, helping hosts make informed investment decisions.
Key Insights
- •Most properties on BnB Buyer bring in 15% to 20% gross revenue to purchase price.
- •Real estate prices have come down a little, but not enough to offset interest rates yet.
Action Items
- ✓Consider using BnB Buyer (or similar services) to find existing STR properties, as they may offer an advantage over starting from scratch.Effort: lowImpact: medium
Tools & Resources
- →AirDNA, Rabbu, Mashvisor, Overnight Success, STR Profit Academy, GPFYP, STR Legends Mastermind: AirDNA, Rabbu, Mashvisor, Overnight Success, STR Profit Academy, GPFYP on YouTube and Instagram, STR Legends Mastermind, FREE Airbnb Starter Guide are mentioned as resources.
- →BnB Buyer: Alex Breen is Founder of BnB Buyer, a biweekly newsletter and website where you can find existing short-term rental properties that are on the market.
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