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IMO a better comparison would be 2003 or 2004 .
or maybe 1984 -1985 .
I’m waiting for the next housing recession to buy and apartment building or a small hotel.
Or maybe brick and mortar is no good and I should invest in tech.
Hotels are fine. People will still like to travel and be “away from their spouse for half a night.” 🙂
I have this Airbnb idea where I would rent turn key furnished apartments to people who would otherwise stay in extended stay hotels. Maybe they have a 6 month assignment, a sabbatical or whatever.
It would be 30 days or more so I don’t run afoul of local housing ordinances. It would be a well designed apartment complex of beautiful 1 bedroom apartments. Something out of the ordinary.
Did you notice the innovation in hotels for millennials. The big chains are trying to rethink the typical Holiday Inn/Hilton concept.
There’s a market for it – in some areas more than others. My sister rents almost exclusively to those people. There are a surprising number of them who have several months off/year, or work from wherever they happen to be. “I think I’ll spend the fall mountain biking in Idaho.” At her Spokane house, it’s usually travel nurses.
[quote=Ribbles]There’s a market for it – in some areas more than others. My sister rents almost exclusively to those people. There are a surprising number of them who have several months off/year, or work from wherever they happen to be. “I think I’ll spend the fall mountain biking in Idaho.” At her Spokane house, it’s usually travel nurses.[/quote]
Yeah. That’s what I discovered. I want a whole apartment building in a good location. I will make it like an architect designed space. That would be better than separate condos. Plus I could employ a cleaning lady full time and provide services that delight my tenants.
The most interesting tenant I had was a programmer who works from home. He’s lived all over the world. Very smart but not agressive guy. Very easy going.