Buying rental units in resort community
I am new to investing and was considering purchasing a property in a mountain resort community. Can anyone shed some light on the pros and cons of this and what the rentability maybe? This unit already has a tenant but I am unsure about finding long term renters in the future. Thanks in advance!
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Hi! I just completed a purchase (construction to perm) of a home in a mountain resort community in Wintergreen, VA. I'm not interested in long term rentals because I plan use the house once a month. One of the pieces of data that helped me make a decision was a AirDNA report from AirBNB. It actually provided rental occupancy analysis by zip code. I found it helpful.
I didn't really consider long term rentals because the nightly rate is so much higher and will nearly double my earning opportunity. Our mountain resort is all season so a happy medium, if your area is the same, would be seasonal rentals.
If you're interested, I'm blogging about my experience. The site is in my profile.
Good luck!!!