Vacation Rental Or Long Term?
I am eyeing a townhome that backs into a golf course. It is vacant right now and I beleive I can get it below market.
Initially, I was planning on buying this as investment to rent out to long term tenants. But, bec. of it's location, I believe it will market well for vacationers also and may be able to gross more by doing so. But of course, maintenance and upkeep will be an issue.
Can anyone tell me other pros and cons of vacation rentals?
Thanks!
You might want to find out if you can do that in that area. Some sub-divisions have provisions in the by-laws prohibiting that. I do that type of investing in vacation spots, like the Outer Banks of NC, where the market is wide open to that type of rental property and the returns are very lucrative. Hope this helps.