![]() If our budget is $500-700/month for this 2nd mortgage, and in-laws contribute the same (therefore $1000-1500/mo combined from us as owners), is it reasonable to believe we could consistently earn the other $1100/mo from Airbnb?.It seems to me if we could rent it out for ~10 days per month, we should be able to net around $1500 after paying utilities and some prop mgmt fees. ![]() What would a reasonable expectation be for annual airbnb income or occupancy be assuming it is available for rent 10 months per year?.Our income is ~$180k and we max her 401k, my Simple IRA, my HSA, and my Roth IRA and contribute $200/mo to a 529. My wife and I are late-30s with a 1 year old net worth ~$600-$650k. ![]() They are ~72 yrs old retired with no debt with $2.5MM in IRAs and own their home ~$400-500k value. I think we would split the mortgage 50/50 with my in-laws and do the same with any proceeds from renting it out when we're not using it. = $2575/month all-in before utilities/prop mgmt fees ~$2500 annual property tax + $2500 insurance $600k - $120k down pmt (down pmt would have to come from in-laws)ģ0-yr fixed at 3.5% (we just refi-d our primary at 2.875 I'm assuming the rate would be worse for a 2nd home?) Zillow shows the following for a $600k purchase: In order to buy a place that would meet our expectations, the price would likely be > $400k and in reality probably closer to $500-600k. I'm trying to get some info on the financial side of things on what to expect from renting it as an Airbnb for part of the year, and other input on what we can "afford" to buy. My in-laws are also interested in this idea, and there is a chance we would buy a place together with them. I've been mulling the idea of owning a 2nd home in the NC mountains (likely close to Beech/Banner Elk or Sugar Mountain) with the intent for it to be used by our (extended) family 6-10 weeks per year, and then possibly rent it out when we are not using it.
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