International Vacation Rentals

[Stephen Lee]

Looking to talk with someone who does/has done vacation rentals abroad. Ideally in the Carribean, Mexico, Central or (northern) South America. One of my tentative goals for 2018 is to buy a vacation rental abroad (single family home or condo) and rent it out using airbnb and/or vsbo. I'm not looking to get rich off of it but ideally just break even or make a little bit of money and have the ability to write off a nice vacation to the beach a couple of times per year. it's just a very daunting task not knowing the laws of the country I'm looking to invest in as well as I know them locally. this will also be my first vacation rental as well as my first investment out of the county. if anyone has any quick tips or areas they'd suggest, let me know! Thanks!

[Julie McCoy]

Hey Stephen!

I love the idea, but I do want to caution you: unless you use a local property manager (who will take a big chunk of your profits), managing a VR from abroad will be a daunting task.  Once you've navigated the local rules and regs (which you'll want to consult a local attorney about once you've decided on a location), how are you going to arrange housekeeping?  Repairs?  Replacing consumables like toilet paper? (answer: you'll want your housekeeper to do this)  Do you speak the local language and have a reliable way to communicate with the locals you'll need to be your representatives there?

I think this is likely more trouble than you'll want to deal with for a personal-use vacation property.  My advice: just rent someone else's fabulous vacation home when you want to take that nice vacation.  Then you don't have the hassle, and you have the freedom to travel wherever you want without feeling obligated to return to the same spot over and over. :)