Dave Ramsey Warns Against Risks of Airbnb Real Estate Investing

Dave Ramsey cautions woman not to "screw up your life with an Airbnb" by refinancing home to buy rental property
Airbnbs are like running a hotel - lots of work, dealing with strangers, cleaning, repairs
Tenants can damage property, neighbors may complain about noise
Cities restricting Airbnbs with taxes, licenses, zoning laws that could leave you stuck
Consider lower-income long term rentals, REITs, or real estate crowdfunding for better returns without the hassles

yahoo.com

Relevant topic timeline:

8/27/2023

Dave Ramsey: Renting Is Not a Waste of Money — Mortgages, Student Loans and 5 Other Things To Actually Avoid

Renting is not a waste of money, according to financial expert Dave Ramsey, who advises waiting until you're financially ready to buy a home, which includes being debt-free, having a substantial down payment, and maintaining an emergency fund, while also urging individuals to avoid certain mortgages, student loans, timeshares, credit cards, payday loans, car leases, and lottery tickets to prevent wasting money.

9/4/2023

Thousands of NYC Airbnb listings face removal as city drags feet over...

Thousands of Airbnb rentals in New York City may be delisted due to the city's failure to verify new regulations, leaving hosts uncertain and potentially facing fines of up to $5,000.

9/5/2023

The End of Airbnb in New York

Airbnb and other short-term rentals in New York City are facing a major setback with the implementation of Local Law 18. The law is so strict that it nearly bans Airbnb entirely, as hosts must now register with the city and be present when guests stay. Additionally, hosts can only have two guests at a time. The new rules aim to address the potential negative impacts of short-term rentals, such as noise, trash, and pricing out local residents. While Airbnb has tried to fight back, the law stands, and hosts are now seeking meetings with city officials to attempt to change the legislation. This crackdown on short-term rentals is not unique to New York City, as many other cities around the world are taking different approaches to regulate the industry. However, despite the increasing restrictions, Airbnb continues to grow, generating billions of dollars in revenue.

9/6/2023

NYC’s ‘de facto ban’ on Airbnb is already removing listings

New regulations in New York City require hosts on Airbnb to file a registration application and meet certain requirements to rent homes for less than 30 days, resulting in thousands of listings potentially being removed from the platform. Airbnb has filed a lawsuit against the law, claiming it is a "de facto ban" on short-term rentals.

9/13/2023

New York's Airbnb Crackdown Drives Short-Term Rentals Underground

New York City's restrictions on Airbnb and other short-term rental platforms have led to the emergence of a black market for rentals, with hosts resorting to informal methods such as Craigslist and Facebook Marketplace to attract guests and arrange payments. Despite the regulations, hosts find ways to continue renting out their properties and earning income through alternative avenues.

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Posted 9/13/2023, 12:00:00 PM