I recently attended an Airbnb meetup where many people were present, and the conversations were rapid and intense. Since I'm not a great talker, I left early, but it reminded me of an idea I've had for a long time, even before Airbnb became popular. My idea is to build high-rise condos to be sold to homeowners, who can then rent out their units. I would act as a 'friendly HOA' to manage the renters, ensuring that homeowners are worry-free. My plan is to expand to every city, transforming homeowners into renters seamlessly. Each condo will include storage spaces for homeowners to store their belongings when they are not present. Additionally, my hometel concept will offer meal services, creating a home-like atmosphere without the worry of tips or sales tax. My business will attract social media influencers, eliminating the need for traditional advertising. There will be no signs or check-in lobbies, enhancing the feeling of being at home. I believe I have access to venture capital and could start by purchasing and renovating existing hotels. If this succeeds, I would then move on to new construction projects. I would love to hear your feedback on this idea. And please, don't steal my idea, my dear.
You have a big vision indeed. I've completed the first of many AirBnBs for this year, but single family homes. But, I've learned about how the system works. I also have a real estate development background as well as project finance expertise. Your idea of acquiring, converting, selling and managing Short Term Rentals (STR) is a good one. It's many layered, may be feasible in certain markets and worth exploring for sure. I know others who have made millions with multiple STRs in multiple markets. It's a pretty resilient market as well. Perhaps we should get on a call to discuss further?
Answered 6 months ago
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