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Consider These Things Before You Take Out an Airbnb Loan
Taking out an Arizona Airbnb Loan and starting a business is a great way to diversify your revenue streams or begin working from home. However, there are a few key things to consider before making a purchase
1. Laws: Home sharing and short-term home rentals soared when the economy slumped. It gave homeowners the opportunity to earn some cash and vacationers a way to pick up a cheap rental. Since then, it has morphed into real businesses, and hotels are not happy about that. The good news is, letting a home is legal in most places, but there are some, such as certain parts of California and New York City where regulations are tight. Check your local codes to make sure you’re in the clear before you take out an Arizona Airbnb Loan and get started.
2. Competition: The average person is now netting $21,000 per year by renting out a second home. The opportunity for profit is big enough that competition can be a concern in certain areas. If you find an area or property you like, check how many homes within a 5 or 10-mile radius are already available and whether they’re fully booked or not.
3. Location: Demand soars in specific ... more

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