Leap Into 2020 Facts About the Leap Year
WHO The odds of being born on Feb. 29 are 1 in 1,461. That means that of the roughly seven billion people in the world, only about five million of them are “leaplings.” The number of leaplings currently living in the U.S. is roughly 187,000. Some famous leaplings include motivational speaker Tony Robbins, rapper Ja Rule, and singer Mark Foster of Foster the People. However, the most famous leapling is probably Superman. When you invent a super-being, you might as well give him a super-birthday. WHERE Anthony, Texas/New Mexico (a single town that straddles the two states’ borders), claims the title “Leap Year Capital of the World.” The city throws one massive birthday party
for all leaplings but invites everyone to join the celebration. Two leapling neighbors from Anthony began the tradition in 1988, and it’s blossomed into a festival with thousands of participants every four years. It includes banquets, hot air balloons, a carnival, concerts, parades, and more. When you have four years to plan in between each shindig, there’s time to go big. Celebrate this leap year by doing something unusual or new. It’s a special day that doesn’t occur often, so make the most of it by doing something you’ll talk about for another four years.
Like the Olympics and presidential elections, leap years only occur once every four years, which is why many people look forward to Feb. 29. But there’s a lot that you might not know about this quirk on the calendar. WHY To keep the calendar in sync with Earth’s orbit around the sun, an extra day is added to it every four years. Earth takes exactly 365 days, 5 hours, 48 minutes, and 46 seconds to orbit the sun. Those extra hours add up over time, so another calendar day becomes necessary. But a leap year doesn’t occur every four years. Adding that extra day still doesn’t quite keep Earth on track, so the calendar skips leap years that occur during century years not divisible by 400. For example, 2000 was a leap year, but 2100 won’t be. Airbnb and VRBO are perhaps the hottest and most disruptive companies in the real estate world — and have been for the past decade. Just as apps like Uber and Lyft decentralized transportation, these short-term rental sites have reshaped the way many investors think about residential property investments. But as we move into the 2020s, it’s important to ask: Is the short-term trend a fad, or is it here to stay? Here’s a breakdown of the pros and cons of investing in this modern rental strategy. More for Less: The natural attraction of short-term renting is in the higher rates. Many Airbnb properties charge 2–3 times what a long-term renter would pay for the same property. At the same time, the short nature of these stays means you can more thoroughly maintain the property and get ahead of The Pros
To Airbnb or Not to Airbnb? The Question of Owning Short-Term Rental Property
maintenance issues that may have otherwise cropped up during a long-term rental.
Time for You: The irony of real estate investing is never being able to enjoy the amazing properties you own. This is not so with short-term rentals. Thanks to the segmented nature of the business model, you can spend time at the property yourself or even use it to entertain visiting friends and family. Sensitive Investments: Amajor drawback of short-term renting is that it ties your income to the fickle tourism industry. Sure, there are plenty of attractions in the Boston area that draw travelers from around the globe, but the moment a recession hits, the market will dry up. Beyond just economic catastrophes, everything from terrorist threats to inclement The Cons
weather can dissuade tourists and leave a substantial dent in your revenue.
Side Effects: Short-term renting is proving to have some major long-term drawbacks. Inflated rental rates can adversely affect whole communities, driving out people who live and work in the neighborhood. This bleeds right back into the real estate market, as more landlords turn to short-term rentals to make up for lost tenants. Ultimately, whether you chose to roll the dice on the short-term market or settle for playing the long game, we can help you with all the legal aspects of your investment. Give us a call at 781-251-0555.
42
Published by The Newsletter Pro • www.newsletterpro.com
Made with FlippingBook - professional solution for displaying marketing and sales documents online