Remember fantasizing about owning a beach house? Sigh. In today’s real estate market, you can become that type of property owner! Owning a beach house is not about luxury nowadays as much as it is an investment property. Moreover, more real estate investors are investing in Airbnb beach house rentals and enjoying the rental income that comes along with their summer vacation destination, and if you play it right, it can be a year-round vacation destination.
To help the novice real estate investor find the best real estate investment property that suits their needs and their financials, we’ve gathered the top things to look for when buying Airbnb beach house rentals.
So, what should you look for when buying Airbnb beach house rentals?
Find a suitable location
Any investor must keep in mind that when you’re buying an investment property, you’re buying the location in which the property resides at. You must factor in the weather, taxes, laws, and even investigate whether your potential investment property is located in a flood zone. Other points to consider are the sea level in which your property is at and the amenities that come along with the location. In any case, this is essential especially if you’re going for Airbnb beach house rentals.
Most successful real estate investors think locally when buying any type of investment property. You should too! In other words, look for a real estate agent to help you spot the right Airbnb beach house rentals in the area. By having a local real estate agent, he/she will be more aware of what real estate properties would work best for your needs. Most importantly, a local real estate agent will have a better understanding of the areas more prone to floods, storms, and even high tides.
If you’re looking to find a real estate agent near you, read this blog post: How to Find a Real Estate Agent Near Me.
Ask the neighbors
Among the most undervalued weapons of the real estate investor is asking the neighbors about their experience of living in the location and the house costs, taxes, rents.. etc. You’d be surprised of the help this can provide you in making a solid real estate investment decision.
Analyze the property
Of course, when buying an investment property, you must have the right figures and details in order to ensure it’s a low risk investment. The best method to do that is through an investment property calculator. This can be utilized by property buyers, whether real estate investors or not. Those who are interested in buying Airbnb beach house rentals can use an Airbnb profitability calculator as well. With Mashvisor’s Airbnb profitability calculator, you can get to know the deepest of details about a possible future investment property. These often include rental income, the occupancy rate in the area, capitalization rate, and even cash on cash return. It really does not get any easier for the real estate investor of today! Consider using Mashvisor’s Airbnb profitability calculator by clicking here and making use of the 14-day free trial.
For more information on using an Airbnb profitability calculator, read this blog post: Airbnb Profit Calculator: The Ultimate Real Estate Investment Tool.
When buying Airbnb beach house rentals, you must focus on the property’s size. This includes square footage, bedroom count, and bathroom count. For real estate investors, you must factor in that Airbnb guests that are looking for Airbnb beach house rentals often come in large groups and big families. Make sure to incorporate that into your decision-making process.
Let’s assume you’ve found a property that fits your needs and analyzed it using an investment property calculator and all checked out. What’s next? The best thing that any real estate investor can do to ensure he/she is making money in real estate is to have a professional property inspection. This can tell you all the details about the investment property that you wouldn’t normally see, including the foundation of the investment property. Additionally, this also can ensure the safety of the property and establish the maintenance needed for it.
Do not think about skipping this process to save a few hundred bucks. It’s better for you in the long run to ensure the viability of the investment property.
If you need more convincing on getting a property inspection, read this blog post: Why You Should Get a Home Inspection Before Investing in Property.
Protect your investment property
When buying Airbnb beach house rentals, you must get protection as soon as you buy the property. Having damages from floods or storms can set you back a bundle. A great tip from successful real estate investors who have gone into investing in Airbnb beach house rentals is to look for a raised property. These properties often need stairs to get into but offer you the best protection from water and any kind of rising tides. Moreover, the importance of property insurance is non-negotiable. You must purchase property insurance that covers you in the case of floods or any other natural disaster.
Maintenance and management
Yes, this is not the sexiest or most luxurious part of buying Airbnb beach house rentals as investment properties. However, you must ensure you’re maintaining the property and giving it the attention it needs. The best way to do so is to hire a property management company. Usually, they can offer you full-service including property maintenance and cleaning.
Buy in a place that you’d like
Buying a property in a location that you like is a must. Remember that you will have this investment property for many years. And most importantly, you want to be able to enjoy your relaxing holidays in your Airbnb beach house rental.
Buying Airbnb beach house rentals can be a great real estate investment strategy for both expert and novice real estate investors. It’s a must-have in any real estate investment portfolio. Lastly, remember that buying an investment property is your way of making money in real estate, but never forget to enjoy your real estate investments especially when buying Airbnb beach house rentals.
If you have any more insights on Airbnb beach house rentals, please share them with us in the comments section.