First Time Vacation Rental

[Marcus Rubright]

Hello all,

Brand new here and looking to start getting into real estate investing. There is a property that I have been looking at. It's a condo/cabin community that is lake front with access to a dock, swimming ect. It seems like a good deal and is on the upper limit of my 20% down payment after I pull my IRA contributions back for reinvestment into property. (About 25k). The IRA is only a couple years old and my income has gone above the limit for contribution so I would like to switch gears.

The area is pretty popular in the summer so I don’t think there will be any issues with booking it up; plus its a property that I would even enjoy using for a one long weekend a summer. Winter would be significantly slower I figure, though there are winter activities in the area.

I’m looking for any insight from people who have had seasonal rental properties and what their thoughts are on the current market. Feel free to ask any questions for more information since I’m honestly not sure what I should be asking.

Thanks very much in advance 

-Marcus

[Jules Aton]

Hi, not what you asked but if you are talking about liquidating your Roth IRA I'd urge you to reconsider. That in my opinion is one of the best investment vehicles at this time. If your income exceeds the limit you can still do a back door Roth.