Making a living renting vacation rentals in Northern Michigan

[Dan Stewart]

Hey Guys,

New here but have been listening to the podcast for a few months weekly. I am thinking about making a move up north . I am currently a part-time fishing guide and trying to get the business going.

Fishing guides work is very seasonal so I am thinking about other ways of making income right now. I have always enjoyed working with my dad remodeling homes. They just bought a cottage and we remodeled most of it. We are starting to work on the marketing part on renting it out. However, my parents aren't really looking to make a huge income off of it and would be happy just paying the bills off with the rentals. 

With that being said, I have this crazy idea in my head to jump into this and start on my own. I was thinking of buying a place outside of TC between Crystal Mountain, Frankfort and TC that needs so work. Also, over the years, I have saved a lot of money up thank to not having very many bills and living on the road. The problem is my income has always been seasonal so some years I make money and some years I don't. Would I have a chance at getting a mortgage or would it be better just to pay cash for the place and put monies from that place after bills get paid towards a second rental?

Is it possible to rent vacation rentals out and make an income after all the bills? Or, are you just trying to keep your cost down when you buy a vacation home in Northern Michigan. 

Thanks for any advice/input anyone may have. 

Dan