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Updated about 3 years ago,
- Property Manager
- Gatlinburg, TN
- 3,137
- Votes |
- 2,229
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Microwave or crock pot?
I have a number of investments that are microwave. My time frame is short, and I hope to make quick profits. I am invested in commodities, energy, and even a fair amount of crypto currency.
My crock pot investments are vacation rentals. Yes, this year's revenues are important. But what about revenues 5 years from now? I see a lot of potential investors viewing vacation rentals as a microwave. Buy it and make tons of money immediately. It doesn't usually work that way.
Back in late 2013, I bought a small, modest log cabin next to a rushing creek. I way, way overpaid for it because I thought it was a winner long term. It is a real log cabin, it has privacy, acreage, and you can fish off the back porch.
Here is the year-to-year performance on that cabin since 2014. The moral of the story is this: Long term, you're better off buying the right cabin than buying at the right price.
- Collin Hays
- [email protected]
- 806-672-7102