Bernadette has been on Airbnb before most people even knew it existed and in this episode she shares the most important things that you need to think about before actually buying the property for Airbnb.
However, too often, when renovators are revamping an investment property or working on a property they have bought with the intention of renovating and selling, they take sticking to the budget a step too far.
It’s easy to lose sight of the end goal – creating a space your market will love. A few small tweaks can make the world of difference, and you don’t have to make a significant dent in your renovating budget.
In this episode of She Renovates, Bernadette talks about the ten things that can make your renovation look cheap and how you can overcome them to make it look more professional without putting a dent in your budget.
Watch the Episode on Video:
EPISODE HIGHLIGHTS:
- 00:00 Intro
- 00:29 10 Things to consider when buying a property
- 02:12 What is short term rental?
- 02:48 Location
- 04:40 Investigate the Demand
- 05:45 Buying a unit or house
- 06:56 Understand the state and local legislation around short-term rental.
- 08:16 New or existing property?
- 10:11 Uniqueness
- 11:08 Management
- 15:08 Capital gains tax implications
- 15:40 Spoil your guest
With Airbnb, it’s so much fun because you get to let your creativity run wild it’s a really good strategy for someone that doesn’t have property, but still wants to push up their cash flow.
