Of course, with an interest-only mortgage, yes one would need to be cash-flow positive, because there is no such thing as gaining equity. Again, my understanding is that such properties are extremely rare.
However, I think that's unrealistic, I believe the demand for my house would be extremely low at that price point. My house is very appealing for residents, I don't see it being particularly appealing for travelers and there's cheaper options for travelers.
My neighborhood is zoned residential, however, so I seriously doubt turning it into a hotel would be legal. My neighbors would complain as well (and that's nothing against them)
[1] - https://docs.google.com/spreadsheets/d/1rCz54o_8Z_9fMkPQyTTZ...
The price the website suggested was 120£.
I then went in to put an obscure address where there is no demand, and the price was $140/day. I've rented a hotel in the area for $30/day.
Huh, I've always thought the WH was bigger than that.
https://www.eliotandme.com/estimator?address=white+house%20&...
https://www.eliotandme.com/estimator?address=Westminster%2C+...
PS: And yes this is a parody.
> We regret to announce that the "White House Overnight Guest Program" will no longer continue under the Trump Administration due to the repeal of the Obama Administration's openness and transparency doctrine. You are welcome, however, to make a reservation to stay at the 5-star Trump International Hotel just down the street.
The $400 a night is per double occupancy though, so really it's only $200 per head.
EDIT: Ok, it's a parody. Shame! :(
It is interesting how language morphs over time. Some people will be quite opposed to grammatical errors taking root.
But language has a tendency to not only accept those errors as dual-truths, but eventually replace those errors as sole truths!
This is to the point where "you and I" sounds stunted, overly formal and archaic, compared to "you and me", in my opinion.
"Eliot and me gave it to him," is not.
"He gave it to Eliot and I," would be an example of hypercorrection.
Nice try, though.
It's almost exactly that (within 10%) for the estimate of my house.
I did a more basic analysis when looking at the most profitable Airbnb cities a few months back: https://www.travelstatsman.com/06022017/cities-airbnb-hosts-...
And before anyone jumps down my throat for this, it would be a social good in this particular market and help the local housing market (there is a surplus of housing and ample very affordable housing, the problem here is lack of jobs)
And if anyone thinks this would be a soft option, it would be a lot of work and a lot of responsibility and a lot of value added.
