Is it a good idea to invest in vacation rental properties

[Andrew Martinez]

Hello BP community I'm just starting out on my journey and I am interested in investing in rental properties including vacation rentals. I have read "the book on rental property investing" and a few other books as well. I plan on taking some more classes on these subjects as well as asking other investers in my area but I figured I would start here first.. let me start with what are the do's and dont's on investing in vacation rentals? Why are they good or bad compared to other rental types? And what types of vacation rentals are better then others? 

[Toni Murray]

Hi Andrew. I too I'm new to vacation rentals. I took the plunge last April and bought a fore closure 2bed 2bath beach front condo in Florida. I paid 225k for it and did 30k worth of renos on it. I did granite counters. Gutted old bathrooms updated design. It came out gorgeous. Put all new furniture. It stays booked so well worth it. A lot of people do not like condos and HOAs. I've had very good luck with mine. They have an onsite management co that runs it and I'm happy with them. I need it since I live out of state from property.  My HOAs are 464.00 month and they do a great job keeping the property up. Mgmt fees are 20% off season. June July August they charge 30%