I came across this and just wanted to see if anyone has had any experience with owning and managing a resort style property??
Just curious !! He said he's renting it out for $1000/night and has cashed in on some big events (like hosting the Mayweather fight). I see the potential but would it be too much headache?
@Matthew Cretzman I’m a little skeptical of $15,000 per month year round. But that’s probably another story. I will say that the utilities are going to kill you, property taxes won’t be cheap, landscaping 10 acres isn’t free, and I really wonder how your insurance provider will feel about a 200 foot zip line. And that’s avoiding the most obvious issue of an STR property management company taking 25%.
But, this is not what should scare you!
Here’s what should: It’s listed *every single year*, goes through price drops, then gets removed.
Excellent points. I thought the same thing about it being listed then removed etc. Seems like a nice "idea" but in reality it's a lot to manage!!