AirBNB Downpayment Loans: Loftium

Didn’t a few people come by this forum with this idea?

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What a mad idea.

What happens if the laws change and the person who takes the 50K can’t rent out or doesn’t repay the initial loan.

I think someone did. @Helsi, as I hope you know I’ve posted about my discomfort at people depending on air income. But at some point does it become legit? Just like you could lose your job or become ill or all kinds of things that undermine your income. I want to guard against becoming too old fashioned in my thinking.

@Helsi. If you read the article, it gets pretty gnarly, pretty quickly. If the host decides to stop, then they have to pay off the loan plus 15% within a week. If the listing doesn’t get bookings, the company eats it. If the government, etc. step in was not clear.

@KKC. I think depending on AirBNB isn’t that different from being self-employed, employed by a smaller company, or being over 50 at a Fortune 500 company. There is no employment permanence in this world.

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The article seemed to be aimed at high end homes, $600,000. Expecting 75% occupancy at $150+ a night for a private bedroom. I don’t think it’s sustainable.

$600,000 is nothing in Seattle, believe it or not. And many other USA cities where AirBNB is particularly successful.

@Louise. And to prove that I have a clue: