Watch Out For These 🚩🚩🚩
Watch Out For These 🚩🚩🚩 #realestate #shorts
🚩 - the numbers don’t compute.
While the seller or their agent may promise you how much the property can rent for and the annual revenue, don’t just believe them.
You MUST do your own due diligence.
Make sure you are running your own analysis using online tools and photos to compare your investment to other Airbnbs. How will you differentiate yourself?
🚩 - the property hasn’t been inspected.
I tell clients that an inspection is always a MUST.
Again, don’t go on what others say. You need to hire a licensed, third-party inspector to tell you everything about the condition of your investment.
The inspector’s job is to find everything they can so don’t be surprised that issues will come up. No home is perfect.
🚩 - upcoming regulations could change everything.
Be aware that some cities and townships have not fully determined how Airbnb will be regulated. These things are changing daily.
If you buy in an established market where the city has already laid out regulations and a process around short-term rentals, you may have better luck with things not changing. That is not promised though.
Towns without determined regulations are likely to implement them at some point, so if you invest here then be ready to be part of the conversation.
Want to know more red flags before you invest in Airbnb? Join our free seminar short-term rental investing 101 class in August link in bio 💌
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