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Im based in China and I am looking to buy undervalued property in the US for airbnb rentals. Which cities have 1 bedrooms available in the 5 digits? Which cities have friendlier regulations for Airbnb STRs? What would be the pitfalls for me? Can anyone guide me how to work through this?
In case anyone wonders why cant I do this in China, I need to explain that the cost of property in many major cities here is too high and buying to let out for short term rentals is not viable.
So you want to take housing away from U.S. residents to turn into high yield investments? I don’t really think is is in the spirit of Airbnb and you really ought to reconsider and stay in China. Airbnb can be quite destructive on cities and many of them are cracking down hard. Many have the one host, one home rule.
This is not a get rich quick scheme. It’s hard work and very difficult to do remotely, and probably nearly impossible to do internationally and remotely.
I doubt you will get too much support from this forum but if you are planning on buying investment real estate, talk to a realtor.
As a remote host and investor, I am giving almost NO ONE my research that I have worked long and hard to acquire. There isnt a one stop shop for targeting good STR investment opps in the US or abroad. It takes LOADS of research and time. @Shanghai_Sam if you are serious I would start with real estate investing forums and a word to the wise dont ask people to do the dirty work for you. There are multiple companies you can buy city specfic reports from for about $100 per city.
No hostility intended. But you join here and ask for our help doing something super hard and labor intensive… and start out by saying you are a foreign investor planning to impact our housing market with exactly the kind of thing that gives Airbnb a bad name. So I was put off by your tone to begin with.
I am always astounded by the gall of someone who just joined and thinks we are his or her personal consultants. I thought your response was appropriate. His request was so wrong on many fronts. He has no clue that in the USA most cities would consider what he wants to do illegal. In NYC it is. That said let’s encourage him! Snarky side here! Oy vay!
Oh come on, I’m suprised by the witch hunt on here. The poster is asking for some advice…how hard is it to say: some cities are friendlier than others when it comes to Airbnb. You might want to consider X, Y and Z as a place to start your research.
I’m not in the US but were the question about the UK I’d be happy to point out some of the pitfalls of investing in London, and no I would not feel like I was giving away all my personal research. I would feel like I was sharing some tips to help someone interested in the same industry as me.
BIG difference. We are 50 states, all unique in our laws, not to mention city and local laws. There is no way anyone here in the USA could possibly address such a general question with any credibility. No witch hunt, just a response to an unreasonable request that imho had a kind of presumptive tone. We are not real estate venture capitalists!
Agree, but I read the OPs ‘ask’ as tell me what cities are ABB friendly, have cheap real estate, high STR occupancy rates, and high nightly STR prices. As someone who looks and compiles that data pretty frequently, let me tell you that is not an easy job. Had OP said hey I’m looking into Nashville, TN… I would have been more than happy to say they aren’t really STR friendly, but just to give him a data dump, is a big ask.
Also, I would guess many of the US hosts on here do not know much about STR rules except in their own cities. For example being in San Francisco, I know about SF, but if you asked me about San Jose (45 miles away) I would have NO CLUE what the rules are without doing my own research.
His post was too vague, had he been more specific, I’m sure some people would have chimed in.
I wouldn’t make enough money to make it worthwhile to rent my spare room via Airbnb if I had to pay others to manage it. Bear in mind that you would have to have someone here who would be on call 24 hours a day in case there is a problem.
The only property that I would consider to be undervalued is property in neighborhoods that are gentrifying. It’s impossible to predict if a neighborhood will become more gentrified so it’s impossible to predict whether a property will increase in value. Also, we are currently in an unpredictable political climate so predicting the real estate market is impossible.
Whatever we tell you about regulations is likely to change by the time you buy property and list it on Airbnb. Many, many cities are considering regulations.
Have you traveled in the U.S.? The country we get most of our guests from is Mainland China. There are vast cultural differences so if you haven’t familiarized yourself with American culture it will be difficult for you to own rental property here.
That phrase is kind of strong and is also in the news a lot because that’s what our crazy president is saying is being done to him with regard to the Russia situation.
It’s like me posting and asking what undervalued places in Europe are STR friendly and then give me some guidance about how to do it. Oh and I want to know because the US is too expensive. Come on. That’s ridiculous and way too vague and just insulting.
Part of smart investing is doing your homework, and finding these things out for yourself, as @azreala has done successfully.
I’m not here asking for a freebie. I thought this forum was for us all to share our experience and knowledge and help each other. Simple courtesy would have just made things a bit more pleasant for all of us, and sadly I’m really taken aback by your hostility.