Reply to Do you think a vacation home is a good investment?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We are considering purchasing a condo in a ski resort in Colorado. We’d be up there 2-3 times a year and keep it rented out as much as possible otherwise when it’s not mud season. It’s always been a dream of ours and we are VERY hyper, problem solving end entrepreneurial people, so managing everything in Airbnb and being a landlord in practice would be something we’d really enjoy. The rental income would offset the mortgage and we could swing the mortgage in full whenever needed. So for some folks it makes sense, for others the the stress and hassle would be their down fall. [/quote]

Great, except it’s NOT a vacation home.  It’s a real estate investment.  A rental property.  A business.   Totally different.   [/quote]

Gosh, if I’m vacationing there it’s still…a vacation home. [/quote]

So it’s a year round rental property that doubles as a vacation home a few times a year when you use it. Not to be precious about it but I do think there is a difference between a home that you don’t rent out or rent out two weeks a year (to friends of friends or acquaintances) and a home you rent out on Airbnb 98% of the time and use a week or two out of the year. I mean, I would not personalize an Airbnb or buy really nice furnishings. There’s a different vibe. [/quote]

Airbnb allowed peasants to own second homes and live pretend-rich lives or make initially profitable RE investments for cash flow. It worked for some people while others are getting more desperate as renter demand went down in some places and bans became rampant in others.  Airbnb bans are nothing new and are spreading to new markets with heavy investment activity and where LTR markets aren't as lucrative as STR.  Sellers of these properties aren't desperate yet, but rather opportunistic.  As their properties sit and sit, and LT rents aren't going up to cover the costs, prices will start coming down.  OP should wait for the wave of discount properties to hit the markets.  She may need to be flexible about the area she wants.[/quote]

All of your repeated classist posts only make you sound poor.[/quote]

DP: ? PP's offering an analysis of what's going on in the Airbnb rental market--they're not wrong.[/quote]

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