How profitable really is a villa rental business?

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It seems like every man and his dog is trying to do it these days. And I know some people say it’s a flooded market, but from what I see most people with short term rental villas in seminyak area for example, it’s rarely empty at the moment. From what ive seen, people with long term 25 year leases are doing very well out of it, yet i see a lot of people now also buying 2-3 year leases or even 1 year and expecting to make returns, is it even worth it?
I know a lot of set ups are technically…

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