Pros and Cons of Buying Existing STR Properties

So, you’re looking to buy a short-term rental property but nervous about its potential to make money.   What if you could buy a STR that’s already doing well on Airbnb?   Alex Breen is Founder of BnB Buyer, a biweekly newsletter and website where you can find existing short-term rental properties that are on the market.   On this episode of Get Paid for Your Pad, Alex joins me to explain how he identifies properties that have a STR history for BnB Buyer and which markets have good deals on existing short-term rentals right now.   Alex walks us through the advantages of buying an existing STR versus a home without a history on Airbnb and discusses the downside of limiting your search to existing short-term rentals.   Listen in for Alex’s insight around trends in the STR market in the last 12 months and learn how BnB Buyer can help you de-risk the process of buying short-term rental properties for your portfolio!  Topics Covered

How Alex’s own search for STR properties inspired the creation of BnB BuyerHow Alex identifies properties that are good candidates for Airbnb or likely to have a STR historyThe advantages of buying existing STRs vs. homes without a history on AirbnbWhy selling an existing STR as a business adds value to the propertyWhy Alex hasn’t seen a significant price difference between existing STRs and comparable properties in the same areaHow most properties on BnB Buyer bring in 15% to 20% gross revenue to purchase priceThe disadvantages of limiting your property search to existing short-term rentalsAlex’s insight around trends in the STR market in the last 12 monthsWhy real estate prices have come down a little (but not enough to offset interest rates yet)What markets Alex suggests for finding good deals on existing STR properties

Connect with Alex  BnB Buyer  Resources   AirDNA Rabbu Mashvisor Overnight Success STR Profit Academy GPFYP on YouTube GPFYP on Instagram STR Legends Mastermind FREE Airbnb Starter Guide Review GPFYP on Apple Podcasts   Email [email protected]  Sponsor  Legends X Short-Term Rental Accelerator Hosted on Acast. See acast.com/privacy for more information.