Short-Term Rental, Long-Term Wealth by Avery Carl

Author:Avery Carl
Language: eng
Format: epub
Publisher: BiggerPockets Publishing
Published: 2021-03-15T00:00:00+00:00

THE CASE FOR SELF-MANAGEMENT

The average cost for property management of an STR is 20–30 percent of the gross income of the property and can reach up to 40 percent in certain markets. The average net profit that a mortgaged STR can expect after expenses and the mortgage payment is between 35 and 50 percent of the gross. Knock off another 20 or 30 percent, and it’s pretty darn difficult to bring in a substantial cash flow. In some markets you might even be in negative-cash-flow territory after management fees.

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