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Air BnB /Investment

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ellierose
4/30/2019 21:47 EST

Hi there,

Thinking about buying a property and renting it out on Air BnB as an investment, (My husband is Romanian).
We would have someone to look after the property as we live in Australia.
Looking at Timisoara area.
Has anyone done this before? What do we need to consider?

Thanks!

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Joshuak
5/1/2019 23:03 EST

I am afraid that would be one of the biggest mistakes in your financial life. Being a absentee landlord is bad enough for full time rentals, but for AIRBNB it would be a nightmare. I have lived for part of a year in Romania, and many of the holiday rentals can be quite cheap so you may find you cannot get a good enough return on your initial investment. You could easily lose money. For many years I owned 5 rental apartments in the US and when it came time for retirement I sold them and invested in tax free Muni bonds. Besides,I live 1500 miles now from where those apartments are. I cannot imagine dealing with problems from that distance, and believe me,there will be problems. Invest in apartments where you live, that will give you enough to do. Just because you have Husband's relatives there in Romania, does not mean things will go smooth. Far from it . Daily rentals such as AIRBNB will be impossible unless you are on scene.

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Simonateo
6/11/2019 03:50 EST

I am Romanian from Timisoara, left Romania in 1993. I still have my mother’s apartment left, and it’s rented monthly, with easily €180 (for 2 students cause the bathroom it’s not super arranged). I bedroom apartment in Popa Sapca, center location, near the biggest mall. There are plenty of empty apartments to rent if you pickup the local news paper. Pages of offerings, monthly, weekly, any length. As far as i know my native town and what can do and visit in town, I really have no idea why so many tourist would come to be able to have often and all the time short renting., unless the relatives are having already something in mind. I am from there and I would not buy one with that idea in mind. My moms apartment to buy could cost about 40k € (I was told) and it’s not super luxury arranged inside. .

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gonzooo
6/20/2019 13:28 EST

Hi, I live and work in RO for the last 20 years. There is a clear trend that Romania is making big steps to beeing a full EU member soon. Economically rental is a increasing business mostly for private investors as it offers the biggest ROI and the safest form of investment, as real estate and land prices have only increased from 2008. Timisoara will be European Capital of Culture in 2021. It a boom town!
As a Landlord you can contract a company for rental and cleaning services. Thanks to the internet and Facetime it does not matter if you live in AUS. Feel free contact me for further information and consulting. Bye BiC

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Joshuak
6/20/2019 22:38 EST

Suggest you be careful about people offering consulting or contacts with lawyers as they usually are more interested in entering your wallet.

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