Rental Property Investor · Saratoga Springs, NY · Member since 2014 · 122 posts · 101 votes
Hi All!
I am an owner and manager of vacation rental properties that rent by the week. We own 3 rentals in the Adirondacks (and yes we use them a ton too!), and I manage weekly vacation rentals for apartment complexes, single and multi families for clients all over.
Am looking to invest in more properties - open to all types - working on narrowing down the plan, BP has helped a ton! Have listened to all the podcasts, LOVE THEM!
One fantasy is to find an area in a warmer climate, preferably near surfing (for the husband!) and purchase multiple small properties. Vacation rental them for the next 10 years or so - then sell to friends for an instant fun retirement community. Haven't found the spot yet, but have enjoyed the hunt!
My husband David and I live in NYC so local markets are out of reach for yearly multifamily and single family rentals. Trying to figure out how to research up and coming areas surrounding us for opportunities. Have gotten involved with our local REIA which is helpful, and hope to pick up more tips and get going soon thanks to BP.
Investor · Bethel, CT · Member since 2014 · 55 posts · 12 votes
12y
Hi Maura, welcome to BP. I love the Adirondacks and I took a look at one of your properties, beautiful! I see a booking in my future :)
I am just getting started in REI myself and joined BP only a couple of months ago, I just finished listening to all 86 Podcasts, not sure what I'm going to listen to during my commute to work now.
My plan is to buy and hold locally near where I live in CT but the idea of vacation rentals appeals to me very much, some day!
Investor · Arlington, VA · Member since 2012 · 1k+ posts · 491 votes
12y
@Maura Paler welcome to BP! I've seen a couple threads now on vacation rentals. I love the idea. What blew my away about your post was your comment:
One fantasy is to find an area in a warmer climate, preferably near surfing (for the husband!) and purchase multiple small properties. Vacation rental them for the next 10 years or so - then sell to friends for an instant fun retirement community.
This is exactly what I'm trying to do, albeit a little differently. I'm looking more towards major cities so that when I travel, my friends, family, and I have a free place to stay!
Engineer · Oakland, CA · Member since 2014 · 121 posts · 76 votes
12y
What a wonderful idea!
Here in the SF Bay Area, we have something a little bit like that, cohousing. It's where a group of people, usually close friends, buy a cluster of properties, and share common facilities.
Rental Property Investor · Saratoga Springs, NY · Member since 2014 · 122 posts · 101 votes
12y
@Matt Rosas:
I like the idea of vacation rentals. More work but more fun/mula. The surfing warm water areas are kind of far. What are your geographical limits?
Matt - we have checked out surf beaches in Nicaraqua, Costa Rica, Panama, Dominican Rep, Florida, St Croix. Heading to Eleuthera next. We've found places too pricey (if I had only started this 10 years ago!), not having enough infrastructure or lack of community.