Investing in Airbnb properties can be a wise investment decision for busy dentists and healthcare professionals. Investing in vacation properties can provide a side income stream with the potential to make a lot of money if done correctly. 

However, there are also some cons to investing in Airbnb type properties, such as the amount of work that goes into it, the risk involved, and that it may not be suitable for everyone. Let's look at the pros of investing into vacation properties, how to get started, the tax benefits of owning an Airbnb type vacation property, and the downside.

Pros of investing in Airbnb type vacation properties



Regarding Airbnb properties, there are a few pros that stand out amongst the rest. The obvious being it can be highly lucrative if you can find a high demand affordable area. As a busy dentist this can be a very profitable side income to pay off debts faster and invest in your future.

Additionally if you have an interest in real estate it can be fun to acquire new properties and use your creative flare to get them vacation rental ready, or you can hire out the things you don't enjoy doing.

Airbnb properties have the potential to make a lot of money if done correctly. With the right property and good marketing, it is possible to bring in a substantial amount of extra income each month. Many have purchased properties and paid off the mortgage in the first one to three years, quickly increasing their assets and revenue. Plus, Airbnb continues to grow in popularity.

Another advantage of owning an Airbnb property is the fun of having a vacation property. You have the access and ability to use it for your own personal getaways.

Lastly, owning an Airbnb property can come with some tax benefits of owning a second home. For instance, you may be able to write off some of your expenses associated with owning and managing the property.

Cons to owning vacation rentals and Airbnb type properties

While there are many pros to investing in Airbnb properties,  the cons need to be considered. The biggest downside to owning an Airbnb property is the amount of work that goes into acquiring the property, getting it rental ready, and finding a management team to free up your time.

To be successful, you need to be willing to put in the time and effort necessary to manage the property properly or find quality property managers to handle the bookings, check-ins, property maintenance, and cleaning.

Additionally, investing in Airbnb properties is not without risk. There is always the possibility that you could lose money on your investment if things don’t go according to plan. Do your research before taking the plunge.

How to start buying Airbnb type vacation homes

First and foremost is location, a touristy area with high desirability, and not overly saturated with other vacation rentals is a great place to start. What ares would you enjoy vacationing is a place to start, areas near bodies of water or cities are typically stable markets if the competition isn't too high. Research sites like Vrbo and Airbnb to check out the going rates and how booked out similar properties are.

Once you find your area do your due diligence on the property to make sure its a good investment and not a money pit in poor condition.

Identify what is unique about the property and list the local attractions and try to offer an experience to stand out from the competition. Take quality pictures, and tell everyone about it, post it on social media, and advertise on sites like Vrbo or Airbnb to quickly get your property up and producing an income.

Should you invest in an Airbnb type vacation property?

A vacation property can be very lucrative if you can find an affordable yet desirable area. Do your homework to reduce the headaches, such as finding quality property management, a cleaning crew, and placing protective policies in place in case of tenants causing property damage. 

If you have an interest in real estate then this is a side project that can be very enjoyable. Most importantly if you don't think you will find enjoyment in it then don't do it, time is your greatest resource so don't waste it on that which you don't enjoy.