Updated almost 9 years ago on .
Vacation Rental - Downtown Condo
Hi All,
I am new to BiggerPockets and the real estate scene take it easy on me! I was recently notified of an opportunity to purchase a soon to be built condo a few blocks from downtown. The city I live only allows short term rentals at a few specific zoned condo units (one of them being the new development being built that my condo will be in) and has only two hotels located downtown. Demand is high June through August and continues to grow with relative moderate demand in the fall and various other weeks during festivals. My questions are as follows:
1. What concerns should I have with purchasing a condo for an investment property?
2. Do you recommend one rental company over another? Ex. VRBO over Airbnb
3. Any books, blogs or podcasts you can recommend that will help with this first property?
My wife and I like idea of a VRBO-esque rental as we have enjoyed the experience ourselves. We understand it will take a fair amount of work and require a hospitable effort to ensure happy renters and repeat visitors. Thanks in advance for your advice and time.
Garrett