Investing in Airbnb can help you Build Generational Wealth!
Investing in Airbnb is one of the Real Estate strategies Investors are using to look for potential vacation properties that will be rented by visitors in a short term period. These accommodations range from high-end luxury properties Vacation rental can be rented by the day or weeks. These properties can be spare bedrooms in other people’s apartments and can include homes, condos, villas, and even manufactures homes.
What is the process for someone to become an Airbnb Investor?
First, you will need to set up your Business entity specifically assigned to your Airbnb business. Why is it needed? You might buy this property with the help of a Private Lender. Properties right now range from $200,000-$500,000 which is really costly to buy using cash. Private Lenders can finance you up to 80%-90% of the purchase price plus 100% renovation cost. With this, you will only need to put a down payment of 10%-20% depending on your credit score and experience. Private Lenders will only finance your project using a business entity. Fortunately, No Limit Investments can assist you both in establishing your business and assisting in getting your financing. Additionally, you will also need to set up a separate business banking so that you will be able to properly monitor your cash flow.
Then, searching for available properties. You can start finding your first property by deciding where is your preferred location and price range. After that, you can find a local real estate agent to assist you in your search. If you need assistant, No Limit Investments is partnered with local realtors that are experts in Airbnb properties. We will help you lessen the hassle of acquiring your first property plus we will also help you determine the potential income of your property.
Additionally, once you have your first property, you will need to decorate and make the property presentable to your renters. Establishing your budget and choosing your options where to buy furniture is the most important thing for this step. Choosing good decor really matters because you will need to provide convenience and a good ambiance to your renters.
Finally, the last step will be activating your listing on Airbnb. There are a lot of factors for your listing to stand out among other competitors. Having professional photos, proper headlines, complete property details, easy booking, and marketing are just some of the things that will make you successful in this business. Some of the investors hire property managers who will help them in their listing although sometimes they might be costly but possibly rewarding. No Limit Investments can also assist you in managing your property from furnishing to marketing. We established a program that equips first-time investors in their Short Term Rental business. Please register in our program for more information, please click the link below.
Having strong motivation, preparation and enough knowledge are recipes to be successful in Investing in Airbnb. The important thing here is to get the first step in doing this business although it’s risky, you can have the option to consult an expert before anything else, Patrice Flagg-Waller is a Real Estate Broker, Seasoned Investor, Commercial Mortgage Broker, and Airbnb Superhost is the best person to reach out because she will leverage her experience to make you successful!