Vacation rental property

2 Replies

Hello BP folks!

My name is Chuck Williams and I want to get out of the daily grind! I’m a graphic designer by day, night, and weekends. Last weeks podcast got me really inspired to make a pivot in my career. 

My wife recently quit her job and has a decent 401k that we won’t be contributing to since we are down to one income. Is it crazy to cash out what we can for a down payment on a vacation rental?

Thanks for your time!

Chuck

Originally posted by @Chuck Williams :

Hello BP folks!

My name is Chuck Williams and I want to get out of the daily grind! I’m a graphic designer by day, night, and weekends. Last weeks podcast got me really inspired to make a pivot in my career. 

My wife recently quit her job and has a decent 401k that we won’t be contributing to since we are down to one income. Is it crazy to cash out what we can for a down payment on a vacation rental?

Thanks for your time!

Chuck

 While vacation rentals are a great option have you thought about investing in rental properties instead? They’re typically less expensive and less of a headache. 

Thanks Antoine!
I’m still pretty new to everything so I have lots to learn. I’m not a handy person so I would use a property management company regardless unless there are some pitfalls there that I don’t know about.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you