Banner Elk, NC · Member since 2016 · 16 posts · 1 vote
I live about 2 hours away from an area that was just named one of the top ten tourist destinations for vacation rental cabins. I currently have an SFR rental that was a former residence, but I do not have any experience with owning a vacation rental. I like the idea of more cash flow from a nightly rental but have no idea of how to actually purchase one with no to very low money out of my own pocket. Any advice and suggestions would be welcome.
Hi Rob. There are so many forum discussions on the topic of vacation rentals vs. long term rentals, keep searching for those threads. As with anything, there is a trade off. A nightly rental can provide more income, but can require more regular work. The purchasing of one would be similar to any other investment home, with 25% down or some house hacking method such as living in it and renting our another portion of the home as the vacation rental.