Beginning investors in vacation rental property

[Vicky Seibel]

My husband and I own one single family rental property. We are now looking to purchase vacation rental property.

[Steve Dove]

With no money to invest, yourself, you'll have difficulty. Plan on 20% down, the cost for furnishings, marketing, attorney, accountant, utilities, etc. You'll also need money to carry yourself through non-peak seasons when rent is not being collected and you've got utilities that are still running. 

I would recommend looking at vacation properties that are more reasonably priced as opposed to something in Breckenridge. Start small, learn the game and then move to resort properties.