If you ever dreamed of opening a fun little inn to bring in extra cash, we have a warm spot to start your search. Palm Springs—a desert destination just 120 miles from Los Angeles—is desirable not only for blissful winter weather but also adorable vintage inns rented out by the night. It’s an awesome Airbnb ownership opportunity and—bonus!—design fans love the Mid-Century Modern appeal of the area. Is buying a multi-unit dwelling in the desert a savvy investment? Turns out the timing is perfect. What used to be mostly a haven for elderly snowbirds is now attracting a younger demographic in search of Coachella-type weekends and a party vibe. If you’re in the room-booking business, that means serious cash flow. Even with Coachella seven months away, the average price of a room in April 2018 on Airbnb is $418 per night. Other peak-tourism times in Palm Springs coincide with the film festival (January) and Modernism Week (February). “We’ve been targeting the driveable market and people (who) come here for pool parties or quick weekend getaways—so far, that has really been working,” says Nicky Faeth, communications manager at the Greater Palm Springs Convention and Visitors Bureau. “We’re seeing a lot of restaurants that used to close down for the summer staying open year-round. Hotels are occupied (year-round) and their numbers are up drastically from years past. We’re seeing a shift from a seasonal destination to a year-round destination.” In fact, the number of room nights has spiked, according to the destination bureau’s 2016 annual report, which reveals that 12.9 million people visited the Palm Springs area last year. Despite this year-round hype, the winter season (October through April) continues to be the busiest, says Faeth. “A lot of the snowbirds are here from November for about six months. You’ll really see the entire valley is thriving during that time,” she says. Here are six Palm Springs properties that could be your next vacation home—and pull in some sweet, sweet income… 1821 E. Amado RdPrice: $1.8 million ——-- 754 E. San Lorenzo RdPrice: $3.86 million ——-- 888 N. Indian Canyon DrPrice: $1.99 million ——-- 220 S. Patencio Road #8Price: $2.5 million ——-- 200 S. Cahuilla RdPrice: $2.25 million ——-- 221 E. Sonora RdPrice: $2.19 million The post These 6 Desert Dwellings Offer Hot Income Potential in Palm Springs appeared first on Real Estate News & Insights | realtor.com®. via https://www.realtor.com/news/trends/desert-dwellings-income-potential-palm-springs/
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