Real Estate
Sponsored by

VRBO - Vacation Rental Property Investing

1,511 Views | 11 Replies | Last: 5 yr ago by Ragoo
Ragoo
How long do you want to ignore this user?
AG
I am thinking about purchasing a condo in my home town, very tourist centric during the summer and heavily visited by northerners in the fall/winter.

Does anyone have advice about doing this type of investing?

Thanks
evestor1
How long do you want to ignore this user?
I tried it last summer. It was painful bc the city can annex whatever it wants and not grandfather you...eliminating your <30 day rental.

I backed out of my deal over it. Sucked bad and really put a dent in our morale.
mazag08
How long do you want to ignore this user?
AG
I would not plan an investment to be a vacation or seasonal rental. Too much can go wrong. But I'm no expert and I'm sure there are probably places where it's a good investment. Talk to people locally who do it. Don't assume advice from people who do it another location is good. Your situation can be completely different than theirs.
Ragoo
How long do you want to ignore this user?
AG
I am thinking more where I grew up, where your inlaws live.

My parents own a condo and vrbo, but they paid cash and probably don't market it like they could/should.
Matsui
How long do you want to ignore this user?
AG
Where is it)
Ragoo
How long do you want to ignore this user?
AG
New braunfels
SteveBott
How long do you want to ignore this user?
AG
Since it's a condo there are owners that have good historical knowledge of those units. Could you talk to them? NB is a pretty good tourist town so I would think the demand is there and supply of the right kind of units could work for you.

Let me know if you want me to run some numbers. You will need 20% down but 25% is MUCH better on the financing.
SteveBott
How long do you want to ignore this user?
AG
Of course you are probably a cash buyer
Beckdiesel03
How long do you want to ignore this user?
AG
Our friends have 2 condos. It's been awhile since we talked but their bread and butter is winter Texans and long leases. They say the summer rentals and cleaning fees are a pain. They found some Canadian renters who rent for 6-8 months and don't tear the place up. They hate summer renters.
South Platte
How long do you want to ignore this user?
Depending on the location, you might have better luck selling all the furniture and renting in on a 12-month lease rather than vacationers. I'm not an expert on the area like you would be given your background there, but I can't imagine the socio-economic quality of people that vacation in New Braunfels would be very high.
Ragoo
How long do you want to ignore this user?
AG
I am thinking something like this place.
https://www.vrbo.com/1290057

I can't see the history but they have 8 nights booked the rest of June and 15 nights in July plus some in Aug.

Competing against someplace like the Courtyard hotel on the river. I imagine the location wins out most of the time for families.

idk, maybe that is oversimplifying things.
South Platte
How long do you want to ignore this user?
Cool place for sure. So estimating 40 nights for June - August x $245/night that's $9,800 in gross rental income. I assume VRBO takes a piece of that. Do you already own all of the interior furniture or would you rent it? I suppose you could purchase one that comes with everything in it. That's what my parents did with their CO cabin.
Ragoo
How long do you want to ignore this user?
AG
South Platte said:

Cool place for sure. So estimating 40 nights for June - August x $245/night that's $9,800 in gross rental income. I assume VRBO takes a piece of that. Do you already own all of the interior furniture or would you rent it? I suppose you could purchase one that comes with everything in it. That's what my parents did with their CO cabin.
i dont think VRBO takes a cut, I think their piece is in the MGMT fee that is applied on the total booking. That is if you use and market through VRBO. I believe a lot of deals work their way through word of mouth and off of VRBO...
Refresh
Page 1 of 1
 
×
subscribe Verify your student status
See Subscription Benefits
Trial only available to users who have never subscribed or participated in a previous trial.