How to Succeed With an Out of State Airbnb Investment
There are plenty of reasons to think about investing in a short-term rental property out of state.
You may have been considering buying rental properties and then started seeing the comparison of long-term vs. short-term rentals.
If you are in an area where housing is in high demand and prices are in high demand, but the short-term rental outlook is average, it will be hard to make money there.
Local Vs. Out of State
When investing out of state, you get to cherry-pick markets that fit your criteria.
This ability to
cherry-pick a market for your specific needs
is what makes investing out of state so desirable. Are you more interested in appreciation than cash flow? Then maybe a tier-one beach destination would perform well for you.
If you are looking for a place you can later use as a family vacation destination, you can find that too.
From a purely financial perspective, you will want to choose a market with strong rental demand, low demand for property, and good prospects for property price and rental demand growth.
How to Select a Market
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