@Shannon Vincent. I have shifted gears to wholesaling right now. I just moved to Colorado Springs so VRBO may be an exit strategy for me when I pick some place to settle down. However, they are very lucrative if you buy in the right place. I actually spoke with a woman today who has several homes on homeaway, she is making 2000/week on a downtown Colorado Springs home and she has about 5 of them. The one thing that concerns me is that the hotels are getting cranky and demanding vacation rental owners pay extra resort/hotel fees. Cities like Austin are cracking down on vacation rentals. They are creating restrictions like a minimum of 6 month rental and if you own one, you have to live close by. I rented from a woman in Austin that even asked the city if there was a special tax on her vacation rental and they told her no. Well, about a year later, they called her and told her she owed something like 12,000 in back taxes from her vacation rental that she ended up having to pay. My advice from someone who travels for a living and rents vrbos is to find a great location, and check and double check city and HOA regulations pertaining to vacation rentals. Hope this helps some.
