Just like buy and holding can I invest in vacation rentals as a new investor?
Would it be as lucrative as owning a traditional year-round rental ?
Depending on the location, if it is a high vacation go to spot. One thing to know is that vacation rentals have to be at a higher standard (model home/ Nice hotel). This might create initial higher renovation cost.
To stay booked and to receive highest price for your rental. It will also help with the managing of an vacation rental. The additional cost of cleaning and preparation for turnover of units.
Vacation Rentals depend heavily on location.
Some locations will work better with long term tenants because there is not enough demand.
Vacation Rentals tend to more work owing to higher tenant turnover, and handling communication.
While standard property managers take <20%, property managers who specialize in vacation rentals can charge north of 50%.
If you want to get your toes wet in vacation rentals, you can rent out a spare bedroom.
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