Updated over 6 years ago on . Most recent reply
Help advice vacation rental buying
I have been wanting to have a rental property for years, or even vacation rental. My wife has been onboard with vacation home for a couple of years. It is in a place where we want to retire. (15-20 years from now). About two hours away. It is a hot place for vacations especially in summer. We would like to use it personally more in winter ourselves, but some summer too.
We just moved back to Midwest and bought a cheaper house so we could have more cash to do this investment.
Debt free except 150k mortgage
200k in bank and our retirement is being funded 15%. Every month 2,000 dollars left in budget.
Am I being too conservative not to jump right in and let the chips fall where the lay?
How easy is it just to rent out a home like this just to pay for overhead expenses.
On a lake will probably cost about $300k.
How do I start? with a property managers or Realestate agent?
Any advice or additional questions I need to ask myself would be helpful.