Tags: Investing in real estate, landlord insurance, covid19 baby boomers, bnb, lifestyle

Thinking Of Investing In Real Estate for Airbnb As a Part Of Retirement Or Financial Planning? Airbnb Still Has Many Advantages, Learn more!

October 27th 2020

lifetime income stream, annuity, there's actually something very unique about what insurance can do for your portfolio

Be sure to consult with a qualified insurance agent such as

Boracchia Wiviott Insurance Services, LLC, a part of award winning Boracchia Wiviott Wealth Partners, before starting any financial service.

A prudent person focuses on generating resources for passive income. And having a plan after retirement is a smart, sensible act to secure your golden years are indeed golden. While talking about planning after retirement, we can't ignore financial planning. And for this, you need an investment strategy that fits your needs and budget. Now, if you are not sure about where you should invest, to continue generating wealth in your retirement, our award winning financial planning and wealth management firm has many options from airbnb to other short term rentals and proper stock market investing. 

 

Whether it's about creating a stream of income, stablizing cash flow, increasing appreciation levels, tax advantages, leverage, diversification, building equity and wealth, etc., investing in real estate knows how to carry all these benefits with it. It is a trusted way to amass wealth in which you have control over the outcome of your investment contract.

 

Investing in real estate is still subject to market forces but having the tangible asset brings alot of security to people’s lives since worst come to worst you can live in property unlike a bond, stock, or a mutual fund.

 

You can increase or decrease the value of your property by yourself if you know where to invest in real estate. Your wealth building is not as dependent on other’s reports, results, etc. Many successful people have become so through investing in real estate.

How Is It Investing In Airbnb?

When you have decided that you are going to invest in real estate, in your mind should be how can the property make the most amount of money for me? By investing in Airbnb, you can help pay yourself back faster for closing costs, down payments, and more. In the last couple of years, investments in BnB, especially Airbnb, have boomed as home-sharing and other rental services have grown significantly worldwide with more than 4 million property owners using the site. Now let's answer your most awaited question, which is “Is Airbnb worth the investment?” So the answer is, it depends, but if you are allowed to given any zoning requirements its probably worthwhile. 

 

Airbnb remains one of the leading real estate investment strategies in 2020 due to its multiple benefits over other traditional rental property investing. 

 

Here we will discuss pros of investing in airbnbs or other home shares:

 

Pros: Let's look at some of the advantages Airbnb has to offer

  • Rent your property for a lot more per night.

  • Airbnb offers a higher return on investments over traditional landlordship 

  • It is flexible - you can rent to others or stay yourself

  • You have control over your property’s maintenance

Cons: Like other short term rentals, Airbnb also has some challenges, especially during COVID-19, which have severely disrupted the travel industry. Many owners ended up with only 25% of their reservation costs covered, and piled up cancellations.

Invest in Airbnb

Conclusion

 

Airbnb’s liability insurance is not an extra charge; and covers many damages to the property caused by guests or even in the case when the owner gets sued by the guests. You can check the details of their host protection insurance HERE

 

However, now Airbnb has issued a statement stating that the company will not include any claims related to coronavirus. On their official website, Airbnb has this to say:

 

“Travel insurance generally does not cover a “foreseen event” one that has already started or has a reasonable expectation of taking place. Known or foreseen circumstances like COVID-19 and fear of travel due to COVID-19 are likely excluded from most policies. However, coverage may be available if you actually become ill or quarantine.

So What Does This Mean?

By now, we know that investing in real estate, especially Airbnb is profitable but like any incwarment, no matter what you’ve heard to the contrary, there are risks. And just when you were about to invest in a rental property, you got to know about this new matter, COVID-19,  not covered by airbnb insurance. There are other booking agencies which you can take out private insurance for. Now, what should you do? Should you leave the idea of investing, spend this money on parties, and have fun? NO, Absolutely no. We have a solution to your needs!

CONTACT US TODAY AND START LIVING BETTER TOMORROW

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Lea Wiviott Boracchia, Co-Founder, FinancialPlans.Info and InvestingProfits.Pro, both apart of the renowned Boracchia Wiviott Wealth Partners

We are a registered investment advisory focused on accessible wealth planning for everyone. Our mission is to help women, men and people of all ages, races, locations, and anyone plan and secure their most successful future. We were originally established in 2005 by way of 3 firms before my husband Marc and I registered our independent advisory in California.

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