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Updated almost 4 years ago, 01/02/2021

User Stats

4
Posts
3
Votes
David Goldenberg
  • California
3
Votes |
4
Posts

First rental property - vacation rental?

David Goldenberg
  • California
Posted

A bit about me:

I currently live in possibly the most expensive area on the planet. It is cheaper for me to keep renting instead of buying here, so I do not own my own residence. I have a high salary day job which I enjoy very much. I am more interested in generating wealth and maximizing tax incentives than cash flow because I love my day job. 

What I am looking for:

I would like to invest in real estate as hands-off as possible with professional property management. I need to look outside of my general area because there is no way to make the numbers work here. Because I would have to do long distance investing in general, I am considering purchasing a vacation rental. If the property is going to be far away, it might as well be in a place that I would actually want to go visit! This would be my first property. 

Anyone get started with vacation rentals before buying their own house?

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