Oct 16 '08, 06:55 AMI already own one vacation rental in the Poconos and was planning on buying a 2nd from my immediate neighbor up there but do to financial issues I am unable to. I am currently under contract for that home but will be breaking contract soon. The seller most likely will continue renting it out on his own unless I find him another buyer ASAP - this is your chance to get in on this deal while it's still available..
We were set to close on 10/30. I talked him down in price to make this a fantastic deal and it's making me sick that I am not going to be able to do it. The house is 2 houses over from mine - same layout, 5 bedrooms 3.5 bathrooms, walk out basement, minutes from the slopes/lake. It's 100% turnkey and ready to be rented, no work involved at all - already furnished, appliances, electronics, plasma tv's, etc.. It also already has bookings for 08-09 season (I have been taking bookings thinking I was going to own it so I have all the contracts/contact info etc). The house should gross about 40k+ per year in rental income easily (mine already has and the year isn't even over). The sale price is $330k (and I got him to do a 3% seller assist so it's really like it's 321k). I just thought before I completely call the deal dead I would put it out here in case anyone is interested.
My house is on vrbo at the following link so you can get an idea for rental pricing, the area, the house, etc.. It's the same layout as mine.
www.vrbo.com/174546
Let me know if this is something that may be of interest to you and I can reassign the deal over to you - if not, I am just going to tell him the deal is unfortunately dead and he will most likely take it off the market and continuing renting it until the market turns and sell in a couple years for a better profit. Oh also the house is new built in 2007 so everything is new and still under warranty - he has only owned it a year!
