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Updated over 2 years ago on . Most recent reply

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Kenneth Nale
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New to bigger pockets

Kenneth Nale
Posted

New member here from NJ. My wife and I have talked about purchasing rental properties for a few years now and are getting serious about it now. Came across this forum while doing some initial research. 

Right now we are looking into purchasing lake front property on a lake in Maine that we have been vacationing to for the past few years. The area is in close proximity to some tourists hotspots. Our goal is to build a cabin on site and use it not only as our vacation home, but also rent it out when we are not there. I’m currently reading through the many vacation rental posts on here but if anyone else can point me towards some info that’s more geared towards our goals, that would be great. 

Looking forward to diving into this process. 

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Caleb Brown
#3 General Real Estate Investing Contributor
  • Real Estate Agent
  • Kansas City
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Caleb Brown
#3 General Real Estate Investing Contributor
  • Real Estate Agent
  • Kansas City
Replied

I'd assume you would be utilizing the property as an short term rental. I would first learn the rules and laws about if short term rentals are allowed and what steps are involved. After that start building a team. Connect to an agent, lender and property manager(unless you self manage). I would also start peaking on Zillow to get an idea on prices. 

  • Caleb Brown

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