Vacation rental condo vs Traditional condo for STR

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Vacation rental condo vs Traditional condo for STR

Certain Carl
Member since 2021 · 9 posts · 0 votes

Hello bigger pockets forum,

If you had to buy a vacation rental property, would you buy into an association specifically for vacation rentals or a traditional condo that allows rentals?

I'm considering purchasing a vacation rental and it feels like a traditional condo might be better if things went wrong. Which one would you choose?

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John UnderwoodPro Member
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
5y

Neither. I'd buy a house. 

Minimum of 3 bedrooms.

I would absolutely steer clear of any HOA properties.

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  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    5y

    Neither. I'd buy a house. 

    Minimum of 3 bedrooms.

    I would absolutely steer clear of any HOA properties.

    3Reply
  • Joshua Strickland
    Investor · Flowery Branch, GA · Member since 2019 · 413 posts · 412 votes
    5y

    Vacation rental condos or “condotels” are much harder to get loans on now. Higher rates and more money down, so be prepared for that.

    1Reply
  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
    5y

    What @John Underwood said. NO condos. Ever. Not in the STR business. You really want other people telling you how to run your place?

    1Reply
  • Certain Carl
    OP
    Member since 2021 · 9 posts · 0 votes
    5y

    No condos whatsoever seems to be the agreement. Thank you everyone for your input and opening my eyes.

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