Does anyone have experience in owning property around a lake and rent them out to vacationers/fisher people? I am considering on doing this and would like advice on how to pursue types of properties. Lots for rv/trailers, houses to rent out, etc.
I don't have any first hand experience but my mom used to help out at a trailer park at Lake Tawakoni in Texas. They had a few very small newly built cabins at their trailer park they'd rent out. They also had a few FEMA trailers they rented out. None of them were exceptionally nice but they were decent. The cabins stayed pretty rented and they priced them (what I thought was) significantly higher than the competition. They stay pretty rented during the summer, even when the lake was down. NOTE, this was a fairly nice trailer park. They had redone the roads, keep the grounds maintained, clean bathrooms, a big meeting room/building for parties, a fishing dock (although it was on dry land at the time due to drought), even rental spots for RVs were nicer so they pulled an upper end crowd.
From what I've seen in my immediate area (and I've researched it), if you have cabins at a trailer park rent pretty decently. Cabins or houses that are not at some sort of park do not stay rented.
Thank you for your feedback.
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