Airbnb Owners Frustrated with Rotterdam, Will Fight Moratorium If Approved
Glenn and Amber Schworm, founders of the Home Flipping Workshop, are real estate investors who own and operate Airbnb properties.
While expanding their portfolio to continue building wealth, they have also ventured into a slightly different market than they usually manage.
Glenn and Amber’s recent article, “Airbnb Owners Frustrated with Rotterdam, Will Fight Moratorium If Approved,” gives you some insight. Readers can learn tips about investing in an Airbnb that can save you a lot of headaches, mistakes, and money.
The information they share is an excellent guide for entrepreneurs investing in Airbnbs. There are many pros and cons to owning an AIRBNB. While the business profits are attractive, there are also challenges.
THE ATTRACTION TO AN AIRBNB
Airbnb has expanded its brand popularity as a means of identifying unique accommodations. The attraction behind investing in an Airbnb is the possibility of earning recurring or passive income.
Many entry-level investors have found success investing in the Airbnb industry. They have generated positive cash flow that can increase the capital in your portfolio even faster.
Having positive cash flow opens you to viable opportunities with lenders who are likely to loan money to real estate investors with positive cash flow generated by investment properties.
The attraction to such a lucrative investment comes with laws, rules, and regulations. Airbnb is not particularly popular in some states and cities because of the red tape and difficulties imposed by various legislators.
AIRBNB LAWS, RULES, AND REGULATIONS
Some cities and states have infringed on the rights of real estate investors who own Airbnb properties. Educating yourself on the laws surrounding Airbnb ordinances will prevent you from making unnecessary mistakes.
These ordinances must be in place in many locations before listing the property for service. There could be penalties which would include enforcement of fines or other regulations.
It is also good business sense to check the neighborhood of your potential Airbnb investment. It’s essential to ensure that existing neighbors and the community will not incur any negative impact from the property.
People tend to fear what they do not understand, including the Airbnb industry. However, the proper training can help you overcome every obstacle and successfully thrive in the industry.
WHAT TYPE OF GUESTS OCCUPY AIRBNB PROPERTIES?
There is a stigma surrounding Airbnb properties in traditional neighborhoods. Many assume the occupants will be disruptive visitors, homeless people, or an outrageous party late into the night.
Those are issues that could affect any community or neighborhood. But according to what is trending, Airbnb properties are booked and occupied by a specific target audience.
These guests seek an alternative experience instead of a mundane hotel stay. Airbnb offers just that and plenty more, depending on your chosen location.
When people choose to stay at an Airbnb, they are choosing to spend their money in that community or neighborhood. By spending money, they are bringing an increase in revenue to the local businesses.
WHAT MOST PEOPLE THINK ABOUT AIRBNB
Many cities impose restrictions on Airbnb rental properties because they are intimidated by the prospect of lousy clientele for their communities and neighborhoods.
People think that Airbnb investors skip out on paying the taxes on their rental income. If this were the case, it would stop the communities from receiving those tax revenues for their communities.
Nearby residents also feel that Airbnbs will deflate property values, increase rental prices, and affect the quality of life of the permanent residents with noise disturbances and complaints.
They believe that Airbnb investors are not being fair to the hotel industry; because they do not hire employees or carry the exact overhead costs. Instead, people think Airbnbs cause a ripple effect in job loss.
LEARNING HOW TO SUCCEED IN ANY AREA OF REAL ESTATE INVESTING
All hope is not lost because millions of people will only stay in an Airbnb when traveling.
Glenn and Amber Schworm teach real estate entrepreneurs how to succeed, whether flipping houses, renting properties, or creating Airbnbs.
Visit www.HomeFlippingWorkshop.com and learn the details you need to know about the industry.
After completing this 3-day virtual course, you will understand how to maneuver beyond the cons and benefit from the pros.