Columbia , MD · Member since 2017 · 4 posts · 3 votes
Hi, I'm a new investor and new member to the community. I'm interested in vacation rental properties and have looked into cities such as Kona, Hilo, Tucson, Kissimmee, St Thomas, Las Vegas among others. I'm leaving the topic open to receiving advice in any area of the subject. Location, financing, struggles, pros and cons and how to avoid 'first timer' mistakes.
My goal is really to generate some cash flow but ultimately to have a multitude of vacation condos that end up paying for themselves. I'm looking at holding them for extended period of time.
Another question I've come across is the pros and cons of vacation condos that are managed by an association Vs vacation homes that are outside of an HOA?
Are there specific questions I should be asking real estate agents?
We do vacation rentals in Kissimmee. I am also a real estate broker. I would recommend to look for pool homes instead of condos or townhouses. Pool homes promise higher incomes. Pay attention on taxes and HOA fees. Ask local property manager to give you an estimate of projected income before signing the contract. I will be happy to answer any other questions you may have.
We do vacation rentals in Kissimmee. I am also a real estate broker. I would recommend to look for pool homes instead of condos or townhouses. Pool homes promise higher incomes. Pay attention on taxes and HOA fees. Ask local property manager to give you an estimate of projected income before signing the contract. I will be happy to answer any other questions you may have.
Real Estate Consultant · Las Vegas, NV · Member since 2016 · 51 posts · 19 votes
9y
@Antonio Aguilar You'll need 20% down & many Vegas condos are hard to finance due to them being under builder litigation . If you're looking for great agents out here just ask, Im connected with all the right ones you'd need
Real Estate Agent · San Diego, CA · Member since 2016 · 28 posts · 4 votes
9y
@Antonio Aguilar San Diego is a great place for vacation rentals. If you decide to pursue finding a rental in this market, I would love to help. PM me if this is something you are interested in.
Real Estate Broker · Boise, ID · Member since 2017 · 101 posts · 41 votes
9y
Basically anything ocean front will kill as a VR. Also dense city condos (if legal) do very well.
Multi family properties with ocean view are some of the best long term investments I've seen. Getting a old or unkept ten unit in property in tourist area, fixing it up with a modern feel, and renting short term is ideal in my opinion.
Property Manager · Mammoth Lakes, CA · Member since 2014 · 262 posts · 229 votes
9y
@Antonio Aguilar I have a 1-bedroom Airbnb condo at a ski resort town and it has been cash-flowing out the wazoo. We've only had 1 vacant day since the beginning of the month.
I personally love owning/doing a VR in a complex with an HOA. I know a lot of people hate on it, but if you do your due diligence HOA cans be really great. I love that I can provide my guests with amenities like a pool/spa/sauna/bbq area, etc. without having to either finance or maintain those myself. There's an on-site manager for when my tenants lock themselves out in the middle of the night so I don't have to be woken up. And lastly not having to worry about snow-plowing, landscaping, exterior maintenance, roof, etc is just real relief.
I also own long term rentals in and out of state and my tiny little Airbnb unit cash-flows way better than all of them. It's a lot more work too, for full disclosure, but I really like it :)