Investing in Vacation Property
Hi everybody,
I’m looking for some advice on vacation rental property. I live on the east coast and have been vacationing in New Jersey for more than 15 years. In that time, I have seen property values increase exponentially in almost every popular destination except for one. I’ve spent the past few weeks analyzing properties for sale and pulling rental rates for the actual properties for sale, as well as comparable properties. I’ve concluded that I could easily realize 20K per property of net profit on each property. The average property is 300 – 400K. I would like to go all in and acquire 5 properties, but I only have enough funds to pay for 20% of one listing. My question is, what is the best way to go from zero properties to 5 as quick as possible?