I currently own a vacation rental in Port Charlotte, FL. My main reason for renting it through AirBnB and HomeAway is to pay for expenses so that we can use the home also. We have done well our first 6 months with renting it so I wanted to see some opinions regarding purchasing other homes in the area to rent as vacation rentals. This home has a pool and is in a canal so it was more expensive. Is there a market for vacation rental homes without a pool and non waterfront? We do a good job of decorating and staging our home so that would continue. I would just like to purchase homes that are around the $120,000 range and in non flood zones to keep our costs down.
@Alex Balan You already know the answer to your question, you just want someone else's approval. Yes, go for it. You've already proven to yourself in 6 months that it could be done. My wife and I made our first big leap into the STR world when we bought a 3 story house with 9 beds, 4 baths, a jacuzzi on the 3rd floor and a resident paranormal entity. We found out about the last thing after buying it. Tenants call him Stanley.
@Paul Sandhu . Stanley! That’s awesome lol. Our current home has done well so far. What I am looking for is feedback as to whether we need to find properties with a pool and waterfront or can we purchase properties without these amenities.
@Alex Balan That's another question you can answer better than anyone else, since we are not in your market. Look at your competition. See what number of them have pools, and what don't, and how much they charge.
Offer more and charge the same.
Offer the same and charge less.
$400 will get you a motel room with 2 beds for a week in this town. It'll also get you a furnished 2 bedroom house or apartment from me.
@Alex Balan your agent should be able to answer all of your questions. If they can’t it’s time for a new agent! Stanley isn’t licensed in Florida.