Hi all,
Does anyone have experience in investing in a guest house as a positive cashflow property? If so, are there any pitfalls I should consider before committing?
I currently lease two and am looking at more to buy or lease so have been and seen a few. Currently designing a spreadsheet to help me analyse properties for potential and cashflow etc. I've managed the two I've got for over three years now. Biggest issue is occupancy rates. I think plus repairs, maintenance and horrid guests causing issue or damage need to be budgeted for. Type of management is crucial to keep up profits, can make or break a place. Which one are you looking at? Happy to give any feedback I can.
Hi Enid,
Thanks for your input. The property is in Mackay. Has been refurbished fairly recently and has a live in caretaker/cleaner.
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