Vacation Property Rentals
Hello BP!
I recently returned from a vacation in South Texas and a possible investment was shown to me as a vacation rental property. It was just an RV in an RV park charging $200 per month for the spot in the RV park. I am wondering if anyone has had any luck in renting vacation properties for only part of the year. (South Texas is only viable to rent for half a year, to hot for vacation during the summer) Any thoughts on renting properties for part of the year only? This ties into my main idea:
I am considering a long term plan of purchasing rental properties (year leases) in prime vacation locations around the US. (Texas, Flordia, Cali, etc.) likely 4-12 units in each location. I am considering leaving a unit open in each location for showings and for my own personal use and pass on my vacation expenses to my LLC. Then my personal vacations become 'business trips' ... if you see where I'm going here. The minimum goal would be for these rental properties to break even, so long as I have a place to go in the cold winters and hot summer months.
Has anyone done or heard of something like this? Is it worth the work to have a "free" vacation unit available whenever and wherever I please? A management company would have to run these properties, which isn't a thrilling idea to me, but would be necessary.