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A Bargain With the Devil'---Bill Comes Due for Overextended Airbnb Hosts

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  • Lordosis
    replied
    leverage cuts both ways

    Leave a comment:


  • Peds
    replied
    read this on wsj.
    almost posted it on the airbnb course thread.

    thats what happens.....

    Leave a comment:


  • A Bargain With the Devil'---Bill Comes Due for Overextended Airbnb Hosts

    Smaller players have spent hundreds of thousands of dollars each buying homes for short-term rentals. Jennifer Kelleher-Hazlett of Clawson, Mich., spent about $380,000 to buy two Michigan properties in 2018. She said she and her husband cashed out their financial investments and borrowed $100,000 from employers to furnish them.

    The 47-year-old expected to net up to $7,000 a month from Airbnb after mortgage payments, supplementing her income as a part-time pharmacist and her husband’s as a schoolteacher. Before the virus struck, the couple was considering buying more homes. Now, they can’t make mortgage payments because no one is booking, she said. “We’re either borrowing more or defaulting.”
    Diversify, diversify, diversify

    https://www.msn.com/en-us/money/mark...3T4?li=BBnb7Kz
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