Question for those living in San Diego and Miami

avatar33

avatar33

e-Hustler
Dec 5, 2009
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Calgary, AB
I own a condo in Montreal (Canada) but I don't live there, so instead of renting it long term, I've been trying to rent it out to tourists through airbnb since last year, and I was surprised at how many reservations I was getting. I'm actually making way more $ renting it out for short term (from 1 week to 3 months) than the traditional 12 month lease... so I decided to do some research to see which airbnb city is the most profitable for hosts, and found this : Where Do Airbnb Hosts Make the Most Money?

"Miami and San Diego are the most profitable cities for Airbnb hosts. The combination of warm weather and (relatively) affordable housing make these two cities a better bet for full-apartment listings than popular but expensive destinations like New York and San Francisco. By the same token, private-room listings fare best in low-rent cities like Houston and Philadelphia."
Click to expand...

Any of you living in those cities making a killing off airbnb? In SD homes are pretty expensive, but in Miami it's still possible to get amazing 2 bedrooms in sought out neighborhoods like Miami beach for less than 300k. I've seen these being rented out at 6k-10k++ per month on airbnb... which is amazing profit if you ask me... (especially when you consider the mortgage is only around 1,200!)
 
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avatar33 said:
I own a condo in Montreal (Canada) but I don't live there, so instead of renting it long term, I've been trying to rent it out to tourists through airbnb since last year, and I was surprised at how many reservations I was getting. I'm actually making way more $ renting it out for short term (from 1 week to 3 months) than the traditional 12 month lease... so I decided to do some research to see which airbnb city is the most profitable for hosts, and found this : Where Do Airbnb Hosts Make the Most Money?



Any of you living in those cities making a killing off airbnb? In SD homes are pretty expensive, but in Miami it's still possible to get amazing 2 bedrooms in sought out neighborhoods like Miami beach for less than 300k. I've seen these being rented out at 6k-10k++ per month on airbnb... which is amazing profit if you ask me... (especially when you consider the mortgage is only around 1,200!)
Click to expand...
Are you really sure those $300k homes you are looking at are the ones getting $6k-$10k in monthly rent?
 
^yep check this out I did a search for a 2 bedroom:

FjwhYZQ.png


The cheapest one (3,267) is actually a 1 bedroom so it shouldn't even be there. All the others are above way above 5k. Some of those places are really average looking ... I've definitely seen nicer ones in the 250-300k range on zillow.

PNaj2O1.jpg
 
avatar33 said:
^yep check this out I did a search for a 2 bedroom:

FjwhYZQ.png


The cheapest one (3,267) is actually a 1 bedroom so it shouldn't even be there. All the others are above way above 5k. Some of those places are really average looking ... I've definitely seen nicer ones in the 250-300k range on zillow.

PNaj2O1.jpg
Click to expand...


That monthly price calculator is assuming a 100% fill rate, no? Though with those prices even a 50% fill rate would be great.
 
^Those prices are for your search criteria, so I entered 4 guests. If I put 5 or 6 guests then it would prices would go up, even if it's just a 2 bedrooms.
 
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