All Forum Posts by: Aqeel Salim

Hi all! My wife and I have been working on slowly expanding our vacation rental business and are currently considering the Manuel Antonio area of Costa Rica as our next area of interest. Does anyone know Real Estate agents that they would recommend in the area? Property Mangers? We live in the Austin area and would also appreciate any recommendations for lawyers that are familiar with Foreign Real Estate law. Does anyone have any Do's and Don'ts when it comes to investing in a foreign country? Thanks for your help in advance!

I would start by looking at comps in your area on HomeAway and Airbnb. You will be able to tell what a similar property to the one you have under contract rents for nightly, as well as what a typical rental season looks like. Don't forget to include start up costs such as linens, decorations, and the little things that will make your rental stand out from the crowd when figuring out your cash flow for your first year. Good luck and congrats!

Congrats David!

My wife and I recently invested in a vacation rental that has been up and running for the majority of this year. If you have any questions about the steps we took I'd be happy to share. Best of luck!

Aqeel

THANK YOU!

I finally made it back around to BiggerPockets and I wanted to thank the site and its members for setting me up for success. I've been MIA for the better part of this year for a few different reasons, one of them being I was busy getting my first rental property off the ground. And I'm happy to say that my wife and I now have a very successful vacation rental property up and running. The property also happens to be out of state. Not your typical baptism in to real estate investing for a newbie investor but it's worked out well. We are already looking to purchase a second property. Thank you again for all of the members that contribute, your advice was invaluable for helping me get the confidence to take the leap of faith. And I'm so glad I did.

Aqeel

My wife and I purchased our first rental property earlier this year and it happened to be an out of state vacation rental property. We selected that particular property because we love to ski and saw an opportunity to purchase a home near a ski resort that was also on a lake. This allowed us to capture vacation rentals year around. So far things have worked out very well. We have had a few hiccups along the way but are settled enough at this point that we are looking to purchase our second vacation rental in the next few months. I'm a newbie investor and I know that an out of state vacation rental is not the preferred method of getting your feet wet, but I feel like we made a wonderful decision. I'd be happy to help out in any way I can. Thanks!

Aqeel

Thank you all so much for your advice. I have been looking around all day and CBIZ continues to show up as a good option. I'm also going to call a few local agents in Maine, as well as Safeco. BP hits it out of the park again, this really is the best place for advice. I appreciate all your responses.

Hi Everyone. My wife and I just purchased a second home in Maine as a vacation property with the hope of renting it out when we are not there/using it. I understand that a typical home owners insurance policy would not be appropriate in this instance and I was wondering if anyone has any recommendations for insurance companies that I could look in to. I called Geico who currently insures my primary residence and they said that they would no be able to provide insurance on a vacation rental property. Any advice would be greatly appreciated. Thanks in advance for your help. Aqeel Salim

Hey Brandon, I just this morning went into the option period for my very first investment property and it happens to be a vacation rental. I don't have much information regarding the process and experiences down the road but I can help you out if you are interested in following the journey from the very beginning. Regards, Aqeel

Hi Everyone! I am new to BP and REI and was wondering if there are any groups that get together in the west Austin or Lakeway area on weekends. I work full time and it is hard to make it to mid-day meet ups during the work week. If anyone is interested in getting some coffee please let me know. Thanks! Aqeel

Hi Guy,

I am interested in meeting up with other active BP members but unfortunately I will not be able to attend tomorrow due to work. I was wondering if there are every MeetUps on the weekends? If that is not something currently going on I would be interested in helping put those together. Hope your have a great meeting tomorrow.

Aqeel