Curious where to find Airbnb investment properties? Within one to three hours’ driving distance of any major city, there exists a place (or places) that people like to escape to. Take a moment to consider: Where do people in your city, of your age and demographic, like tospend time? When you plan a three-day weekend trip or a romantic getaway, where do you travel? Google the best places to visit in your state. These are the areas to explore when considering an investment in a short-term rental property.
Find Airbnb Investment Properties Where You Like to Travel
Where you enjoy going matters. Why? Because you should invest in an areawhere you want to spend time. It is the opposite of the multi-family investingmentality. No one I know in that investment niche ever stays in their units. Our mentality is quite different. When you invest in short-term rentals, it is important to choose a location that you will be comfortable visiting, working in, and promoting. The more pleasure you take in the location of your short-term rental investment, the easier it will be to help guests plan their stays, and the more you will enjoy working on your Airbnb investment property.
Maybe your favorite area is the mountains, a river valley, a ski location, a lake, a national forest, or wine country. I believe weekend getaway places in these areas make the bestinvestments. Unlike downtown city properties, getaway locations have the potential to be scooped at a low price and repurposed into successful full-time, short-term rentals.
Use Airbnb to Find Viable Short-Term Rental Markets
Another way to identify viable short-term rental investment areas is to go to the Airbnb website and enter your home city in the Location search box. Expand your search radius outward by zooming out on the map 100 to 200 miles and start looking for clusters ofAirbnb listings. When you see 100 to 500 Airbnb listings, you know you arelooking at an area worthy of investment. Areas with those listing numbers havesufficient market demand but are not overdeveloped.
Host Coach Tip: Finding an up-and-coming area will give you the opportunity to purchase an investment property at alower price than a fully established area. This is particularly helpful if you are working with a smaller budget. The sweet spot for an initial investment ranges between $150–$300 per square foot.
If you are searching for the right market for your first Airbnb investment property, I can help! Feel free to schedule a free coaching session with me. I have a tech stack to help you pinpoint the right market and property for optimal returns.