I was thinking of down the road buying a home in a popular tourist destination. i.e. Th Philippines–just spent 6 weeks there. and it is so cheap (everything) you could buy a nice little house right by the beach for nothing. maybe $75k. (just guessing) I mean you wont make $300 a night but if you pik the right location right before tourism booms… use a third party to manage it for you… it is free money in the bag without raising a finger (after you get it ready to open for reservations. PLUS whenever you feel like it you can just got there for a few weeks on vacation!
If you aren’t going to live there, it’s not “free money in the bag”. You’re going to be paying someone to be your on-site manager, a concierge to check people in and out, and a cleaning crew at the minimum. And if they are crap, then your listing becomes crap and you don’t get any guests (or money).
Where are you from that the Philippines is a “popular tourist destination”?
Sorry but hahaha! Read the forum a bit more - there’s much more to hosting than using a third party manager. What about when the toilet gets stopped up, when the guests refuse to leave or when they leave the place in such bad condition that you have to pay the cleaning crew double or when they have loud destructive parties or … well, you get the message
absolutely jump on it. Fabulous idea. Please come back on this board and share all your wonderful experiences with the tourists, and let us know how much free money is flowing in.
Naive thoughts fueled by greedy thoughts. If it was so easy everybody would be doing it.
Just like how “easy” it is the buy a place in Hawaii and leave your investment with the cleaners. Cleaners who have your schedule and keys and have been known to be the mice playing when the cat’s away. By law you must have an official property manager handle your place if you are off island. Many don’t. I can tell you from experience it’s a nightmare trying to find people to handle the simple things like a plumbing backup or whitefly infestation or water hauling. Better have some cash to burn if you want to make loads of money remotely.
perhaps I was overzealous with my comment “free money in the bag” Of course I know there is a lot of moving parts and potential issues that could cause trouble. This is why made this thread…to ask others if anyone has places in other countries.
so back to my question—do any of you own homes in other countries and rent them out?
How about other states in the U,S? or is that a big nightmare too
thank you for your insight. Appreciate it.
well I’m sorry I’ve happened to have had a near perfect experience hosting, i don’t have experience with all these nightmares everyone rants about. I’m not greedy either, I’m brainstorming ways that I could possibly grow my short term rental business. Is there something wrong with that?
Thank you for actually giving me advice that is useful. You’re right. I wrote my topic question without really even thinking it through.
I no longer plan to look into an abroad airbnb business so everyone else can stop hatin’ on me ha.
@Rory_Taylor - no-one hates you
It’s just that most of the people here are experienced hosts and I for one find it to be bloody hard work. I can’t imagine what it would be like having a rental that I couldn’t keep an eye on, but many people do it successfully.
I think that the key is to find someone who is absolutely reliable to look after your rental property and then have a foolproof back-up plan just in case. You’ll also need to know a reliable electrician, plumber and handyman.
True, it’s hard enough to keep an eye on the damn guest behavior when you are the same property!
Please chill out. Name calling is not allowed here. Georgy is a valuable member of our forum. This is your first warning.