rural investing to create weekend getaway style rentals

rural investing to create weekend getaway style rentals

Anchorage, AK · Member since 2015 · 5 posts · 1 vote

hello all!

I have been doing research for a few months now and feel that I am learning new aspects of REI each week. I am currently teaching myself to analyze properties, one thing at a time, do not get overwhelmed I'm telling myself. Although I have not invested in real estate yet , I am extremely excited about it. My current goal is to obtain my first property and I am looking at sfh as a buy and hold. I live in anchorage Alaska which is a hot market. I'm hoping to get something around 200k that I can cash flow, and that is located in a nice area that will appreciate well.

So that is my current goal, my dream is to invest in a "weekend get away" style vacation rental. I'd like to buy property in a scenic place on the west coast and create a BnB style rental. This could exist in oregon or california. Ideally next to a river, mountains ,or an ocean view. I'd likely live on site and have my wife or I manage it. These could be an "off the grid" style place too, not sure yet. I am handy,creative, strong ,and love to build creatively.

OK so my question is does anyone have experience owning a vacation rental such as the situation I described? Is this something I should even consider in my 30s or should this wait until retirement?

Thanks!

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  • Helicopter Pilot · Fairbanks, AK · Member since 2015 · 29 posts · 6 votes
    10y
    I have stayed in and own a vacation rental. When compared to traditional rental units, they are not so much a passive form of income as they are a business. Vacation rentals require your daily attention but yield much great returns than traditional rentals. Location, marketing, and you play a major role in their end performance. If this is your niche I certainly wouldn't wait until retirement. That said, if you intend to move forward ensure that you have an exit strategy for the property on the way in and do not buy on speculative hopes of appreciation.
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