All Forum Posts by: Daniel LaSota

I will be moving to and investing in Greenville, SC, and would like to start building relationships and start evaluating deals. 

@Michael Baum Hey Mike! Thanks for the reply. The location is Sand Lake in Webster Wisconsin to be exact! Feel free to take a look at it if you have time; that would be greatly appreciated! 

@Scott Schultz Scott, thank you for the reply! It is in Webster, WI. I have been going up there every year of my life (25 years lol) and yes, I too have noticed a slight decline in tourism. I suspect people are enjoying the mountains or warmer weather. However, I still love the beauty of the north woods! It will be hard to gauge how the market will continue, but with the sentimental value involved, I am willing to absorb some costs.

**I have two other rentals so far, so I understand the essence of profitability, but breaking even on this lake house is okay with me. 

Hello BP Community!

I have recently stumbled upon the opportunity to purchase my grandparents lake house in Wisconsin. Given the financial situation, this isn’t necessarily a going to be a good deal on paper given some my grandparents financial needs. I know going into the deal that I will likely be at a ‘financial loss’ the first year of so. I have vacationed at this cabin every year of my life (25 years) and it comes with a plethora of memories that I would like to continue passing down to my family. So I am willing to absorb a little bit of a loss.

That being said, the property is 2 hours from Minneapolis and 1.5 hours from Eau Claire Wisconsin. It pretty secluded so I am curious what the best way is to evaluate the market for AirBnBs and VRBOs? There are not as many comps available as a traditional AirBnB. However, I know from experience that folks from Minneapolis will make the commute to this beautiful glacier-made lake that the lake house is on.

Does anyone have experience in renting out vacation rentals in more secluded markets? How have you evaluated your market? My father has a cabin an hour from Madison, WI and has been profitable, but I am not sure how profitable this will be given the location.

I will be looking to reach out other AirBnB’ers in the market as well as realtors, but I always love to hear the insight and wisdom from this community!!!

Thank you!

@Kole Kingslien Hey Kole, I am in the same position you were two years ago and I now have the same questions!? Would you be able to share any solutions you came up with!?