Real estate investment and short term rental. Make your checklist and avoid costly mistakes!
Is short term rental a real estate investment ? If you have a furnished house or one or more serviced apartments and you are renting them for short term you are probably part of the real estate investor family. Obviously there is a big difference between owning a furnished home and being a real estate broker that deals with luxury real estate or executive apartments. However small real estate investors we are subject to making mistakes.
I recently read this book from Robert Shemin on the topic:
Avoid the 75 mistakes every real estate investor makes
With extreme synthesis Robert shares with us his a collection of mistakes that he has made in his career as a professional real estate investor. Without spoiling the read you can anticipate that some are reasonably obvious but others are offer a deep insight into investing in real estate.
The major lesson shared is that owning fully furnished flats to rent should be considered as a business and not a hobby.
I definitively recommend this book if:
- you are considering to make your next move in real estate and you want to prepare in advance for what to expect
- you are building a checklist for investing
- You want to review what you are currently doing and compare it with what a professional real estate broker does
So, is short term rental a real estate investment ?
I would say definitively yes. However we should also consider that most of our guests are going to stay for a few days or weeks so we are not only in the business of renting fully furnished flats but also in tourism/hotel and in the vacation home businesses.
Still, if you are considering buying a place for renting to short term guests better to know about real estate!
P.S: thanks Robert for give me a copy of the book but next time want an inscribe from you! 😉
Share this:
