Rental Property Investor · Portland OR · Member since 2019 · 7 posts · 0 votes
Anyone here a travel addict?! No? Just me? Im sure that is not the case!
One of my dreams that greatly feed into my investing goals is to have properties that bring in cash flow but also allow me to write off my travel and visit my favorite places and stay for free.
I am interested to know which of your investment properties have fed into your wonderlust? Did you purchase a property near an internationl airport or port so you could write of travel expenses to your favorite port to shove off from? Did you purchase a multi family or VRBO investment in Hawaii so that once a year you could vacation there for free? How many of you have property in your home town that allows you to visit mom and dad and write off a portion of your expenses?
Realtor · Portland, ME · Member since 2015 · 655 posts · 552 votes
7y
If you can find something where the numbers meet your investment criteria then I think it would be fine. Just don't invest somewhere based off of emotions more so than for ROI reasons. Just to play devils advocate - if you love traveling, why would you buy in one particular spot? Then you would feel obligated to visit this one location whenever you go on a vacation instead of visiting a new place to adventure.
Realtor · Portland, ME · Member since 2015 · 655 posts · 552 votes
7y
If you can find something where the numbers meet your investment criteria then I think it would be fine. Just don't invest somewhere based off of emotions more so than for ROI reasons. Just to play devils advocate - if you love traveling, why would you buy in one particular spot? Then you would feel obligated to visit this one location whenever you go on a vacation instead of visiting a new place to adventure.
Real Estate Investor · Aurora, CO · Member since 2014 · 240 posts · 109 votes
7y
Hi Lauren! My wife and I did just what you described and have two vacation rental condos in Kihei, Maui. We've purchased these in 2012 & 2016 and we've been able to have a steady stream of positive cash flow each year. We do use our condos each time we visit. Each year we do some work on our condos, so we do get to write off a portion of our travel expenses. I get a lot of questions regarding vacation rentals, and one of the first things I recommend is choosing a location that you like to visit.
Real Estate Agent · Honolulu, HI · Member since 2015 · 450 posts · 196 votes
7y
@Lauren Christensen Yes, this is actually part of my strategy. I travel to Anaheim regularly to visit my rental, which happens to be rented to my family. Another future purchase I'm thinking about would be Vegas since we like to rock climb there.
Rental Property Investor · Portland OR · Member since 2019 · 7 posts · 0 votes
7y
Thank you for your insights! @Dan Weber love the devils advocate perspective! I think i was looking at it more as, on our way to the salt lake international airport to fly out to russia... well stop by our rental and check in on our management team... then we can write off the travel expenses to that area. But i definatly see your point in not becoming emotionally invested! That is a fine line!
@Jeremy Baker Love it! Thats a perfect example! Love to hear that it is working for you!
@Duc Ong That is great! I would love to introduce you to an immerging market just outside of Vegas that i think you would be extremely interested in! WAY better rock climbing, bouldering, Hiking, mountain biking, road biking etc. and only an hour from vegas so you can go have a good time there as well. DM me if you want more info! Id be happy to share my insights as well as any deals i come across that might interest you!