Would you go for this investment (rent2rent)? - Michael McVinney
Contact Michael McVinney, a NY licensed Real Estate Broker. Michael McVinney is also licensed in PA.
Bemus Point NY condos for sale,Ashville NY condos for sale,Lakewood NY condos for sale,Mayville NY condos for sale,Jamestown NY condos for sale,Falconer NY condos for sale,Ellicotville NY condos for sale,Fredonia NY condos for sale,Chautauqua NY condos for sale,Lakefront condos for sale,Bemus Point NY fsbo,Ashville NY fsbo,Lakewood NY fsbo,Mayville NY fsbo,Jamestown NY fsbo,Falconer NY fsbo,Ellicotville NY fsbo,Fredonia NY fsbo,Chautauqua NY fsbo,Lakefront fsbo,Bemus Point NY home for sale,Ashville NY home for sale,Lakewood NY home for sale,Mayville NY home for sale,Jamestown NY home for sale,Falconer NY home for sale,Ellicotville NY home for sale,Fredonia NY home for sale,Chautauqua NY home for sale,Lakefront home for sale,Bemus Point NY real estate license,Ashville NY real estate license,Lakewood NY real estate license,Mayville NY real estate license,Jamestown NY real estate license,Falconer NY real estate license,Ellicotville NY real estate license,Fredonia NY real estate license,Chautauqua NY real estate license,Lakefront real estate license,Bemus Point NY real estate agent,Ashville NY real estate agent,Lakewood NY real estate agent,Mayville NY real estate agent,Jamestown NY real estate agent,Falconer NY real estate agent,Ellicotville NY real estate agent,Fredonia NY real estate agent,Chautauqua NY real estate agent,Lakefront real estate agent,Bemus Point NY realty,Ashville NY realty,Lakewood NY realty,Mayville NY realty,Jamestown NY realty,Falconer NY realty,Ellicotville NY realty,Fredonia NY realty,Chautauqua NY realty,Lakefront realty,Bemus Point NY for sale,Ashville NY for sale,Lakewood NY for sale,Mayville NY for sale,Jamestown NY for sale,Falconer NY for sale,Ellicotville NY for sale,Fredonia NY for sale,Chautauqua NY for sale,Lakefront for sale,Bemus Point NY homes for sale by owner,Ashville NY homes for sale by owner,Lakewood NY homes for sale by owner,Mayville NY homes for sale by owner,Jamestown NY homes for sale by owner,Falconer NY homes for sale by owner,Ellicotville NY homes for sale by owner,Fredonia NY homes for sale by owner,Chautauqua NY homes for sale by owner,Lakefront homes for sale by owner,Bemus Point NY foreclosed homes,Ashville NY foreclosed homes,Lakewood NY foreclosed homes,Mayville NY foreclosed homes,Jamestown NY foreclosed homes,Falconer NY foreclosed homes,Ellicotville NY foreclosed homes,Fredonia NY foreclosed homes,Chautauqua NY foreclosed homes,Lakefront foreclosed homes,Bemus Point NY real estate school,Ashville NY real estate school,Lakewood NY real estate school,Mayville NY real estate school,Jamestown NY real estate school,Falconer NY real estate school,Ellicotville NY real estate school,Fredonia NY real estate school,Chautauqua NY real estate school,Lakefront real estate school,Bemus Point NY mls listing,Ashville NY mls listing,Lakewood NY mls listing,Mayville NY mls listing,Jamestown NY mls listing,Falconer NY mls listing,Ellicotville NY mls listing,Fredonia NY mls listing,Chautauqua NY mls listing,Lakefront mls listing,Bemus Point NY buying a house,Ashville NY buying a house,Lakewood NY buying a house,Mayville NY buying a house,Jamestown NY buying a house,Falconer NY buying a house,Ellicotville NY buying a house,Fredonia NY buying a house,Chautauqua NY buying a house,Lakefront buying a house,Bemus Point NY townhomes for sale,Ashville NY townhomes for sale,Lakewood NY townhomes for sale,Mayville NY townhomes for sale,Jamestown NY townhomes for sale,Falconer NY townhomes for sale,Ellicotville NY townhomes for sale,Fredonia NY townhomes for sale,Chautauqua NY townhomes for sale,Lakefront townhomes for sale,Bemus Point NY homesearch,Ashville NY homesearch,Lakewood NY homesearch,Mayville NY homesearch,Jamestown NY homesearch,Falconer NY homesearch,Ellicotville NY homesearch,Fredonia NY homesearch,Chautauqua NY homesearch,Lakefront homesearch,Bemus Point NY houses for sale by owner,Ashville NY houses for sale by owner,Lakewood NY houses for sale by owner,Mayville NY houses for sale by owner,Jamestown NY houses for sale by owner,Falconer NY houses for sale by owner,Ellicotville NY houses for sale by owner,Fredonia NY houses for sale by owner,Chautauqua NY houses for sale by owner,Lakefront houses for sale by owner, contact Michael McVinney, Real Estate Broker Michael McVinney, NY Real Estate Broker, NY Real Estate Agent, NY Realtor, Michael McVinney
17673
post-template-default,single,single-post,postid-17673,single-format-standard,bridge-core-1.0.6,ajax_fade,page_not_loaded,,qode-title-hidden,side_area_uncovered_from_content,qode-child-theme-ver-1.0.0,qode-theme-ver-18.2,qode-theme-bridge,qode_header_in_grid,wpb-js-composer js-comp-ver-6.0.5,vc_responsive

Would you go for this investment (rent2rent)?

For contest, I am 20 and I just moved to a new country for a job with a decent salary but I don't really like. Always wanted to get into real estate.

In the city were I live, rents are really low and airbnb prices are really high, so I was thinking about a little rent2rent.

I found an apartment (2 bedrooms with a double bed each, living room, kitchen, 1.5 toilets) that rents for 630€/month plus appliances, so to get into it it would be around 2000€ (first month rent, deposit, agency fee), and even though it is fully furnished in a pretty decent condition, it could use some new furniture.

The apartment is 200m from the main square, the minumum price on airbnb for a 2-persons bedroom in the neighbourhood I could find is 37€/night, with most of the rooms placed at around 50-60, and the high-end ones at 80-100ish.

This leads me to belive that with a little doing up of the house (like 1000 or so, I can paint it myself), I could easily rent each of the rooms for 50€/night, and I could expect at the veery least to rent them out half of the month (more during high season). That would be 50€*2rooms*15nights so 1500€/month income at the very least, so assuming 250€ in appliances it leaves me with 1500-630-250= 620€/month in profit.

Am I daydreaming? Cause it looks too good to be true to my inexperienced mind. Where in my assumptions did I go wrong? Btw it is not just this house, there's lots of good deals like this around here, so even if I don't get this one, what I want to know is if I'm thinking correctly about the whole thing.

The actual question is: I have currently no savings, and it would take me aroung 4-6 months to save enough, so is this deal good enough, and do you think it is worth borrowing 3000 euro for?

TL;DR: apartment rent + appliances 850/month, airbnb expected to be 50€/night for each of the two rooms. How many days per month should I expect it to rent out, and would it be worth borrowing money to get this apartment asap?

submitted by /u/Jeen34
[link] [comments]