Interested if anyone here has any connects for vacation rental investors in Baja. Looking into that investment strategy in Baja and would like to pick someone's brain who as done it or is currently doing it.
My mentor in Vacation Rental was Brad Moncado. He runs a 3-day event in Branson, MO devoted to this subject. His first slide shows a map of the entire United States and really all of North America and then he asks the question to the crowd: "Where does this idea work?" People call out: "Southern California," "Florida" "Gulf Coast" and then he shows the second slide, which is an identical map of the entire United States and North America. And then he proclaims, the correct answer is "Everywhere!" We converted a long-term rental in a very remote corner of our state following his training methods and the results have borne out the complete accuracy of his statement.
Douglas, I love that story! Brad is a great mentor! And I'm excited to hear that your long-term rental has been a huge success. Peter, I don't have any experience in Baja. My first questions would be regarding zoning regulations...are they vacation rental friendly (i.e. area restrictions, HOA restrictions, etc.). Then I would pull up VRBO and see if I could find others in the area, look at their calendars to see how far in advance they are booked, and also check out their average rates. Best of luck!
@Peter Lee I would second everything that Kelly said. You don't want to make a purchase based off of vacation rental numbers, just to find out that the city, county, out neighborhood won't allow it.