Hey Everyone. I'm new to BP and new to investing. I've spent the last several months totally immersing myself in education and trying to decipher the best market/vehicle for me personally. I've got a question about rehabbing, renting and then selling. I live in Cape Cod and the real estate here is quite expensive. While the BRRRR method seems to fit my personality and goals, I'm not sure the price of real estate and long term rental market here will allow for that, at least starting out. However, the cape is a monster tourist destination in the summer and vacation rentals bring in a boat load of cash.
My question is this- would it make sense in any capacity to purchase a property in a location that will support weekly vacation rentals, rehab the property, rent it out for the season, and then sell or refinance in the Fall?
The reason I'm considering this is because a modest vacation rental here can bring $2k-$3k a week, so it would seem that I could utilize the BRRRR strategy in an abbreviated form by building a years worth of equity via rental income in about 3 months.
Does anyone have an opinion on this?
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