First steps getting started in Vacation Rental Property Investing
My brother and I are looking to get started in the vacation rental property business. We have $100,000 saved between the both of us but are not really sure the best way to go about investing it. Would it be smarter to put a down payment on multiple single family properties or go for a larger property in a popular area?
Next question is location. I live in Kansas city right now but we are wanting a property that is attractive year around so we can maximize its occupancy. Do you guys have any advice on where to look that will generate most cash flow?
Last, what are the first steps that we can take in order to get this started?
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- Real Estate Broker
- Cody, WY
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You need to listen to the latest podcast with @Avery Carl:
5 Pitfalls When Buying These “Crazy Cash Flow” Properties (biggerpockets.com)
I have a friend that bought a property through her in the Smoky Mountains and he's doing great. I've been finding too many good deals in my local market but intend to purchase something in one of her markets in the near future. Listen to her podcast because it has some great advice about how to find a good deal in a good market.
- Nathan Gesner
