Airbnb is a fantastic way to generate cash flow, own a vacation property and increase net worth. With the right property management company this can be a hands-off experience with very little worry and a great investment.
Location is key. Some people would be surprised at what will rent out and where. We have an incredible Airbnb company out of Calgary that can do Airbnb almost anywhere.
What about the risks? The income potential can be high but it’s not guaranteed. Municipalities are starting to come down on Airbnb properties so be beware before you buy. This is also why it’s important to have the right people in front of you. And there’s the upfront cost to furnish the place.
If you are open to anywhere and are looking for an investment with cash flow and appreciation this is a great way to start. If you are looking for a vacation property that you can use this also a great way to build your net worth.
Ideally you want to find a place that can be an Airbnb but also a long term rental if the regulations change.