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Updated almost 4 years ago on . Most recent reply

User Stats

11
Posts
2
Votes
Gabe Lemons
  • Developer
  • Poway, CA
2
Votes |
11
Posts

If I build it will they come? Considering unique-STR island

Gabe Lemons
  • Developer
  • Poway, CA
Posted

Considering buying an island on a river in the pacific NW with an existing house that needs some work. I think it's got great potential to create a unique STR experience. I can imagine some challenges having an island house with boat access presumably needed for everything. Existing house looks ok just needs some modernization and upgrading to maximize the opportunity. Anyone have any experience with something similar? Any chance I make money on this or do I need a figurative slap in the face to avoid blowing a bunch of money here?

Most Popular Reply

User Stats

18
Posts
22
Votes
Douglas Fox
  • Real Estate Investor
  • Ellington, CT
22
Votes |
18
Posts
Douglas Fox
  • Real Estate Investor
  • Ellington, CT
Replied

I had a friend who had a fabulous rustic cabin on an island in the middle of Lake Winnipesauke in New Hampshire.  On my first visit to the island, he had just brought me and several others over to the island on his boat.  It was a gorgeous fall day and the place was looking absolutely spectacular.  I went over to my friend who was a jet engine  engineer, and being full of enthusiasm for having just landing on the island, I said to him:  "There must be a lot of advantages and disadvantages of living on an island."   He was smoking his pipe, he slowly dropped the pipe from his mouth and turned to me and said:  "I can't think of one advantage."  He slowly turned and walked away.  I never will forget that moment.

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