Buying an Abandoned Motel for Airbnb?? (it just might work)

Richard FertigNov 1, 201810m 20s53.3K viewsScore 85
Regulations & Compliance
advanced
zoning
renovation costs
short-term rental investment
market analysis
grandfathered zoning
M

Summary

AI-generated

Learn how to assess the viability of renovating an abandoned motel for short-term rentals. This video explores the critical zoning regulations, renovation cost limitations, and potential ROI in a market with high demand and low inventory.

Key insights

  • The '50% rule' for renovations is critical: if renovation costs exceed 50% of the property's valuation or assessment, the property must conform to current zoning standards, potentially reducing the number of allowable units.

Mistakes to avoid

  • Ignoring the 50% renovation rule can lead to losing grandfathered zoning rights, forcing compliance with current standards that may significantly reduce the number of rentable units.

Tools & resources

  • The Ultimate Guide to Finding & Buying STR Propertiesbook

    A guide to finding and buying STR properties is available to help investors.

Frequently Asked Questions

Curated by Learn STR by GoStudioM · Summary & key insights generated by AI · Reviewed by editorial