Investing in condos as vacation rentals

[Adriana Martinez]

Hi everyone,

What advice would you give to someone who is new to investing in short term/vacation rentals. What have been some your experiences with this investment type and what would you tell someone who is interested in this but new to real estate investing as whole? Would love to hear your thoughts!

[Twana Rasoul]

@Adriana Martinez There are a lot of great discussions on here around this.  But some of the items I'd say to keep in mind are the following:

1. When investing in condos for short term rentals make sure you know the rules of the HOA and that they allow for STR.

2. Understand the local laws regarding STR

3. Do not purchase an STR right now based on the financials from last year...a lot of STR's in my market have been converted to LTR.

4. Make sure you understand the management portion, as STR PM's charge a much higher rate, understandably, than a LTR PM.

Best of luck!