Vacation Rentals - Right Under My Nose
Living in North Central Florida, I forget that people spend thousands and dream all year to come to my home town. After years of trying to perfect my rental house management I am wondering why I didn't think of this earlier!? I have been looking at properties with a new perspective. I think I found one. The owner is asking way over what a traditional investor would want to pay. Now I am thinking I can pay a little more because the returns are so much better. And Bonus! It comes fully furnished in Lake House Decor! Exactly what vacationers will be expecting. I am a hands on manager so I would be the cleaning lady and yard boy. What am I waiting for?
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I have a vacation rental on a small lake. Plan on 3 years to get established. Repeat cutomers and good reviews are everthing in this business. You'll have none starting off.
My first few years gross income ramped like this: 7k, 15k, 20k, 23k, 30k. Been grossing 40k the last 2 years. Those first years were PAINFUL ... negative cashflow.