All Forum Posts by: Sohina Kareer

1 Million dollars should buy you something nice.

Google top short term rental or Airbnb locations. There are plenty of articles that have tip locations. Check a few different lists and see which ones overlap.

@Sohina Kareer - I invest in vacation homes before and I'm happy to offer some advice. With a budget below 1 million dollars, there are definitely still some great options for vacation home investments.

First, it's important to consider the location. Look for areas that are popular vacation destinations, but perhaps not as well-known or expensive as some of the more famous spots. For example, you might consider places like Gulf Shores, Alabama or Lake Tahoe, California. These areas offer beautiful scenery and plenty of activities, but at a more affordable price point.

Next, do your research on the local market. Look for areas that are experiencing growth in tourism and real estate. This will help ensure that your investment has good potential for appreciation over time.

When it comes to financing, I recommend working with a lender who specializes in vacation home mortgages. They will have a better understanding of the unique challenges and opportunities that come with this type of investment. I also suggest looking into options like rental income to help offset the cost of the property.

Finally, don't forget to consider the practicalities of owning a vacation home. Will you be able to manage the property from a distance, or will you need to hire a property manager? What are the ongoing expenses like for maintenance, utilities, and insurance?

Overall, investing in a vacation home can be a great way to build wealth and enjoy some time away from the hustle and bustle of everyday life. With some careful planning and the right financing, you can make it a reality. :)

Avery Carl’s book! Short Term Rental, Long Term Wealth. It is your guide!