All Forum Posts by: Jessica Stiner

I currently manage 20 vacation properties located at the beach in Delaware and I love it! In 2014, I had around 275 reservations. The potential is huge with vacation homes. I'll give you an example.

Subject property: Located in a remote beach community that has nothing around it. (Nearest store is a 15-20 minute drive). Normally, this would not be my ideal vacation spot, but others like it.

Check out www.vrbo.com/389330

This is a small 2 bedroom, one bath cottage that is located on the beach. Purchased for approximately $250K. The owner stays in the home for three months in the winter, but starting in April, the home is completely booked to November. It produces over $40,000 a year in rental income with less then $10 in expenses per year. Expenses include cleaners, utilities, repairs and property management. Not too bad for a little 2 bedroom cottage.

Of course, not every home can produce these numbers. It really depends on your location, price, if you allow pets, size of the home, how many it can sleep, the community amenities and how you advertise. 

I really like Vacation Rental By Owner because I find quality tenants. They are mostly families or retired couples looking for a little getaway. I really try to stay away from the "I just graduated! Now me and my closest 80 friends are gonna spend a week at the beach!" There is a little bit of this on VRBO, but not too much.

I could probably go on and on, and write an article myself about vacation properties, but I'll leave that for Brandon. Basically, if you find the right property and make it comfy cozy for guests, the profits can be huge. 

I look forward to your article Brandon. Thanks.

Jessica

Hi Biko,

I am also from Delaware and new to personal RE investing. Welcome to BP! I wouldn't be the mentor you are looking for, but my expertise is in property management, home sales and weekly vacation homes. If you have any questions in these areas, let me know. I'm more then willing to help.

Jessica Stiner

Melaines,

If they don't pay, they should be evicted. I recommend looking up your state's landlord/tenant code and reading it. You need to know the laws, if you plan on managing your own properties in the future. Good Luck!!!

You can try www.LLC.com. They are located out of Delaware (my husband works for them). Better tax treatment if you incorporate in Delaware. Actually, it's pretty easy to do the bulk of it yourself. You would just need a registered agent from Delaware.

Thank you for the words of encouragement!

Try asking her for advice. Let her know your looking to get into RE and have interest in taking over her property. She may be willing to work with you and offer seller financing. Figure out why she is so motivated to sell. Is she tired of renting or does the home need constant repairs? Then you'll figure out if it's a property worth owning. Good luck!

Welcome to BiggerPockets! Good luck with the offer.

Ciro, I live in Newark, Delaware, but I manage multiple homes throughout the whole State from North Wilmington to South Bethany. I'm actually listing a rental around the Air Force Base in Dover soon.

Elizabeth, thank you for the advice about the signature. Good point.

 I agree with Kyle. I'm shocked he even asked. He sounds like a really good tenant.