The Real Estate Crash Will Come Down To Airbnb & VRBO As Mortgage Rates Rise
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About the Author: NC Scout
NC Scout is the nom de guerre of a former Infantry Scout and Sergeant in one of the Army’s best Reconnaissance Units. He has combat tours in both Iraq and Afghanistan. He teaches a series of courses focusing on small unit skills rarely if ever taught anywhere else in the prepping and survival field, including his RTO Course which focuses on small unit communications. In his free time he is an avid hunter, bushcrafter, writer, long range shooter, prepper, amateur radio operator and Libertarian activist. He can be contacted at [email protected] or via his blog at brushbeater.wordpress.com .
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GUNS N GEAR
Timely video for us, as we are under contract for a 1bedroom condo on HHI, that has a proven track record of rental income, and is booked out to the end of dec of 2022…
We negoiated a full cash offer, so zero payments to speak of, other than hoa fees and such which include everyting except, electricity. We can afford the monthly on that easily enough, and if it just stays at 50% rented, more than covers that and gives us a nice monthly income stream.
We had an inheritance come to use from my wifes mothers estate, and it was just sitting in the bank, doing nothing so we pulled the trigger and went this route.
We also paid of our current home, both autos and such, and are effectively debt free, other than my businees opex, which is covered by my business.
We can move there if need be and live comfortably, though the majority of my business is here, i can still do remote work, and travel back to Clt if need be or bring on a 1099 contractor to do onsite stuff if i cant make it.
The other reason we did this is for our family and friends to have a nice place at the beach, literally one block away, where they can come down in season or off season, and have some play time, and because its NOT Myrtle or Wilmington.
They will get the family/friends discount….If any of you know me, then you know who you are and are on the list to be contacted.
Also, in the event of my passing before my wife, then she will be getting rid of my preps and shit, selling our Clt home, and moving to the beach house, as she loves HHI.
So, to sum up, we are in a position to take advantage of things, can afford to do it, don’t plan to sell anytime soon, why would we, and can enjoy some positive cash flow w/out going into debt to attain it, better than the market or sitting in the bank..
We will know on the 27th, as the current owner is trying to do a 1031 exchange, and needed some time to put the deal together…
If not this unit, then it will be another one..
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Short-term rentals were pushed to — AirBNB was funded for the purpose of — further atomize and destroy neighborhoods.
Boomer short-term self-interest over every other concern.
Put those Airbnb’s up for sale, I’ll gladly live in SW Florida.
Not necessarily, on HHI there are dedicated zones for short term rentals, plenty of neighborhoods do not allow that practice..
Our community in Clt voted to ban that …
the condo complex we are looking into at HHI is a mixed setting, owners living there and vacay rentals..