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
- →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.
- →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.
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