Investing in a Vacation Propery

[Sarah Larbi]

Hi BP fellow members. I started investing in RE inOctober 2013 and have 3 long term buy and hold properties I rent out. They are doing well and will keep buying these however I would love to try the vacation rental route as well mostly because I could also take advantage of the cottage in the summer. I understand it is a lot more work as you are turning around the property much more often, but in terms of turning a profit I am wondering if it is possible to actually make money with Canadian summers being about 3-4 months max. How often would I need to rent this out considering it will cost about $350k to buy. The cottages I am looking at in Canada would be in the Kawartha Lakes or Georgian Bay Area , does anyone have any experience with renting out cottages in Ontario? If so can you please provide some insights and what type of return if any they can make? What is the demand like? Are there better areas than others? Do you get much traffic in the winters? Do you get more traffic with VRBO, Airbnb or another avenue? Any insight is greatly appreciated. Thanks guys! Sarah