Vacation Rental - Minnesota

[Joseph Sangimino]

Hi, 

I have a unique opportunity to potentially invest in a vacation rental on a very nice lake house in Minnesota. I have never looked into running a vacation rental, nor would I be able to be very hands on with this investment since I do not live very close. However, the property is turnkey and what I feel would be a very appealing place for people to vacation. What I need to determine is if it could be profitable. Like I said, I've never analyzed a vacation rental, and am currently buried in another project. 

If someone with experience managing rental or vacation properties would like to assist in analyzing this deal and potentially get involved, please reach out to me. 

Thanks

[Tom Roffers]

Hi Joseph,

I think this is a great idea and one I continue to consider as well. I would be curious to hear where the property is in Minnesota if you are willing to share?  As you know, vacation rentals tend to have quite a bit more in property management costs - but in comparison to other, more sought after destinations for vacation rentals (i.e  FL, AZ, where I've seen management costs as high as 25%),  I think Minnesota has great appeal/potential. Feel free to message me if you have any questions.