No. of Recommendations: 1
Does anyone here own properties that are exclusively rented out for short periods of time, through something like Airbnb or VRBO? I've been chatting with a friend that is a successful realtor about investment properties. She recently purchased a lake house on one of the very few nice inland lakes in the area and has already paid for her year's mortgage renting through Airbnb. This specific area is growing but is far enough away from the big cities that property values are much more reasonable. It's near Fort Bragg, which being one of the largest military bases in the world, there's always going to be a flux of people coming in and out. I lived in Western Michigan for a few years pretty close to the lake, and vacation rentals is big business there. People are making way more money renting out properties for days/weeks at a time as opposed to signing year long contracts.

I'm just scouting things out for now, probably won't be looking at purchasing until late fall/early winter or next year, but I was curious what others thought might be some pros and cons of a property used for short term rentals as opposed to long term.
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.