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Updated over 1 year ago on . Most recent reply

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Bobby Nalua'i
  • Rental Property Investor
  • North Carolina
4
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House Hack Vacation Rental Style

Bobby Nalua'i
  • Rental Property Investor
  • North Carolina
Posted

Hey everyone. I'm curious if anyone out there does what I am thinking about doing. I know house hacking typically  means buying a house and bringing in roommates to pay the mortgage, but my idea is a slight variation of that. 

I bought an oceanfront rental in Florida a couple of years ago, and after a couple of seasons of renting it short-term, it's pretty clear that from mid-October to mid-February there's minimal bookings. Starting around Valentine's Day occupancy skyrockets and all 97% of the annual revenue occurs from March until mid-October. This has me thinking that I could live there Oct 15th to Feb 15th and it wouldn't cost me anything more than I already pay, except perhaps a larger electric bill. The mortgage, taxes, insurance, and homeowners dues are expenses whether I am living there or not, and they are covered by the cash flow from the peak season.

So I'm wondering if anyone has any suggestions for places that could serve the exact same purpose but elsewhere. Somewhere where the off season is a different period on the calendar. I've thought about something near a ski resort, I could go there in spring when no one books it, then leave in summer when the mountain bikers start booking. 

Any thoughts or suggestions? USA or Canada only. 

Thanks

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Tanner Pile
  • Real Estate Broker
  • Colorado Springs, CO
308
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359
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Tanner Pile
  • Real Estate Broker
  • Colorado Springs, CO
Replied

@Bobby Nalua'i

Spring in Colorado could be a good time in the mountain towns for this strategy. I do not have any properties in Summit county area (Ski resorts) Some mountain bikers come to that area but it is not as popular as ski season can be. 

In Colorado Springs the summer time is when booking increase with all the outdoor activities available. 

Arizona for the summer time could be an option I'm not sure when the prime season is for Airbnb there but with the extreme summer heat its not the most ideal vacation spot. 

It may be hard to find a spot that is no busy during the summer time since this is when most people have the time to travel with kids out of school. 

  • Tanner Pile
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