This caused a lot of short term rentals to get hit in certain areas. People are getting laid off left and right from Facebook, Google Tesla, etc. The market was hot, things were great and everyone was making money whether you're smart or stupid, right? But then recession happened, rates skyrocketed. So the short term rental rates were going crazy. This was end of 2021 middle 10 to 2021 when the economy was great. The numbers worked very well with the airbnb short term rental rates like it was a double digit cash flow return. My client's friend, long story short, bought a three bedroom house in Phoenix, Arizona and bought a duplex here in San Diego. Let me start off the video with a very quick story on how my client's friend lost his ass and is now in pre foreclosure about to get his property taken by the bank because he bought a property based on airbnb financials. My name is Jason Lee, I'm a multi family real estate investor here in San Diego and I also own my own commercial real estate brokerage with 11 amazing agents. In this video, I'm gonna explain to you why you should never buy an Airbnb based off the income that the property brings in on the short term rental. 🎧 Listen to my Podcast - Apple Podcasts: | Spotify: With this guide, you’ll be able to easily understand your real estate deals. Sources: Download Your Free Real Estate Deal Analyzer. Understanding how to analyze long-term rental rates, underwriting the property, and considering multi-family properties as a consistent and reliable source of income is the key to real estate investing in my opinion. In today’s video I talk about buying Airbnb properties as short-term rentals and go in depth about three important mistakes to avoid ⬇️ġ️⃣ Never buy a property based on Airbnb financials
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