3 ms·
I wonder how long it will take for some of these investors to buy cheap apartments in downtown Omaha and charge $350 a night during the meeting.
by dangerlibrary 13y ago
I wonder how long it will take for some of these investors to buy cheap apartments in downtown Omaha and charge $350 a night during the meeting.
- ninv 13y ago3 nights X 350 = 1050$, it will take 100+ years to recover the cost
- baddox 13y agoDon't forget property tax, and other fixed yearly costs that don't go away when the apartment is unused.
- FireBeyond 13y agoBecause they couldn't rent it out or AirBnB it the other 362 days of the year?
- ninv 13y agoHow many people are going to Omaha for vacation?
- brianbreslin 13y agoI know someone who bought a house in Austin to rent out on Airbnb during sxsw. He rents it out 3/4 of the year but makes most of his profit that 2 week period
- afterburner 13y agoThat's literally not saying anything all other than he's at least breaking even, and those extra 2 weeks make at least $1 profit.
- scott_karana 13y agoAnd if he's only breaking even, isn't that okay? If he gains net $0 from it, and spends net $0, he'll (eventually) have a land asset. Illiquid and potentially risky, but still. Getting a mortgage paid for you is a nice deal.
- pilom 13y agoOr, he could take the down payment he put on the place and invest that and come out ahead. Granted this person probably does make more than $1, but if they didn't, there are other better uses for money.