Vacation Home. Imagine owning a second piece of Real Estate, using it for your vacation, FREE, and then having people pay you to stay at it when you are not in residence. The icing on the cake is that your Real Estate will build equity while you enjoy the property and receive income. That is what we call a triple threat and a good one at that.
If you love the destination where you vacation, then you might
consider purchasing Real Estate there and enjoying the fruits of your labor. You work hard for your money and each year you end up spending that money to relax in an exotic destination. With a little research on the part of your Real Estate Agent you can grow your vacation into a money saving, money earning possession. While the saying is true, something is better than nothing, there are parameters that will maximize your investment.
First you want a property that leverages your ownership with the desires of the majority of Vacationers. The optimum number of Bedrooms is 3. With a sleeper sofa the property will sleep 8 and therefore make it affordable to slightly larger groups.
Properties in exotic locations rent out early and often. If they are
located on a beach there is a premium to be earned. A value Added Draw is a pool. The joy will be that the same things that bring you happiness will also draw more vacationers to your property.
With the help of an Online Vacation Rental company you can expect to obtain vacation rentals an average of 10 days per month the first year. In year two, as your property becomes known, the rentals can average 20 days per month. These estimates are based on the location of your property and the rental amount you request.
One advantage for you is to give your rental company a range of acceptable rent fees. When someone calls or E-mails with an interest in a property the rental agent needs to be able to act quickly to secure the client. This is most easily accomplished when the Rental Agent always knows what the property owner desires. There are also Web Sites that allow you to represent the properties yourself.
The second best way the Rental Agent can assist you is to be able to access your rental calendar for the urgency of the client. This way, when the Vacationer is ready to book, the Rental Agent can handle the transaction before the client finds another property.
Here are the four simple steps for you:
Step One: Decide on your dream exotic location.
Step Two: Choose a Real Estate Agent that you are comfortable to work with.
Step Three: Choose a Vacation Rental Agent to work with and get helpful information.
Step Four: Enjoy.
Send us a message with any questions: GalvanRealEstate9@gmail.com