All Forum Posts by: Alyssa Czopor

I do not have any vacation rentals, but I have looked into some. I actually looked into one, in a foreign country, as my first investment and glad I ended up with something local instead. It can be a lot more hands on, more capital intensive, and may be a bit more of a task when just starting out. I do recommend a first investment to be something that you can roll up the sleeves and get your hands dirty with, managing everything yourself. Once you get a feel for it, you can then explore out to other asset types.

If this vacation rental is close by and something you can/want to manage yourself, I would definitely consider and give it a shot if the financials make sense and property checks out! As long as you are making money on it, I think you'll definitely learn a lot from it being more of an active investor.

The rental is about 3 hours from me so it definitely wouldn't be easy to just jump over there anytime especially with working FT. I know I'm going to make a lot of learning mistakes the first time but I also don't want to add on any unnecessary headaches. The appeal is the location and the numbers but obviously there is more to consider than that.

What did you invest in when first starting out? I'm also trying to figure out what is best in my area too. The whole house hacking idea is appealing to me too. Thanks!

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Thanks for the feedback Steven! The distance aspect does concern me especially doing this for the first time. Also, what you mentioned about property management. It could eat away at a lot of what I would bring in for rental income.

What did you do for your first investment property?

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I'm super green with everything to do with REI. I'm more excited than fearful at this point which is why I know I'm ready to jump in and look for my first investment property. I started learning more about real estate when I decided to look into buying a vacation home in upstate NY several months back. I picked up the ABCs of Real Estate Investing and then two more books and now I'm hooked.

Does anyone deal with vacation rentals as their main investment? Is this a good idea for a newbie? What are the major cons of this type of investment property? One I have found already is the hefty down payment required.

I'm currently looking at a property in the Catskills that isn't on the market yet. It is in a great location, beautiful setting and appears to be good rental opportunity from what I have researched. However, again, I'm brand new to this and I know there are no guarantees but any advice and or suggestions would be much appreciated. Thanks!

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All Forum Posts by: Alyssa Czopor

Alyssa Czopor has started 1 posts and replied 23 times.

Post: Newbie looking @ vacation rental as first investment purchase

Post: Newbie looking @ vacation rental as first investment purchase

Post: Newbie looking @ vacation rental as first investment purchase