Vacation investment properties can suck you dry.

[Joel Owens]

So I have never owned a vacation rental but I have investor friends who do. I also know investors who sell them off.

I had looked into buying a property myself but years of research and talking to colleagues talked me out of it.

The dream was to have a house on the ocean. Reality is warm weather just a few months of the year and hurricane insurance is expensive. You will be working non-stop the summer months to get vacationers at peak times. If you use a PM company instead they will suck you dry with steep fees due to demand.

Same thing with cabin rentals. You are buying yourself a job. This is what I have been told by investors who have 20,30 or more and some with just a single or a few. As they get older they do not like to deal with all of that.

So it's the age old question of the yield versus the work involved. I would rather make 15% passively then work into the ground for 22%. You appreciate time more than anything as you get older............. : )