sweetpeasmom
Pearl Clutcher
Posts: 2,577
Jun 27, 2014 14:04:01 GMT
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Post by sweetpeasmom on Jun 17, 2021 11:04:20 GMT
Gulf coast somewhere, FL or AL. Like a previous poster said, it would be on the beach.
I have been telling DH we should seriously consider it. I spent over 2 months trying to find a condo on the beach. It’s been a nightmare. We have a budget as well as specific needs (sleeping arrangements). I’d find something, inquire about it (calendar showed it was available) and it’s been rented for months. I also can’t believe the rates being charged. I feel we’d be able to rent it out and do well. I’d seriously consider it if he was on board.
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Post by shanniebananie on Jun 17, 2021 11:16:17 GMT
My dream is to own a cabin by a stream (river) in the mountains of Colorado. We vacation there almost every summer. It has to be close enough to the stream that I can hear it at all times.
My FIL recently passed away and we are ear marking our inheritance for this purchase in the next 5-10 years.
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cakediva
Drama Llama
Making the world a sweeter place one cake at a time!
Posts: 7,399
Location: Fergus, Ontario
Jun 26, 2014 11:53:40 GMT
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Post by cakediva on Jun 17, 2021 11:30:25 GMT
I'm going to say Orlando. I know you can throw a stick and hit a rental home there, but we did consider it briefly. But being in Canada and all the rules that go along with that - it really was a pipe dream.
But I love Disney, so I'd love to have a vacation rental near there!
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Post by Basket1lady on Jun 17, 2021 11:58:44 GMT
Some of our favorite vacation spots:
Cape Cod Outer Banks New Orleans Jackson Hole Lake Superior
If you want to rent it out year round, look into the touristy sections of DC. I think you could have it rented out most of the time.
When we travel now, we always try to book ABnB or VRBO. And when the kids are with us, it’s a must. As young adults, it’s nice for them to have their own space for not that much more than a hotel room. I do find that there is a lot of demand for places with 2-3 bedrooms under $300. Ideally under $200, especially for us who often get a wild idea to travel for the weekend on a Tuesday night and start looking then. Those huge houses that go for $$$ are always available, even last minute. And I think they must just invite a party crowd.
I’ll pay more to be right in the center of tourist attractions and even more if it’s in a quiet area. We once stayed in an ABnB in Rome in an apartment that overlooked the Campo de Fiori that was an excellent location, but they start setting up the market at 5am and the bars are open past midnight. I can sleep through just about anything, but DD wasn’t happy!
We travel at least 10+ times a year in non-Covid times. We want an updated residence small kitchen with a kettle and a Keurig/Nespresso, a corkscrew that’s not a Dollar Store type, and a microwave/convection oven. We want comfortable beds with adequate blankets. AC is a must in the summer in the States, fans if we are outside the US. Bonus points if we can get in via a keypad vs having to be there by a set time to get the keys. That’s about it. It doesn’t need to be luxurious. But it must be clean!
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Post by myboysnme on Jun 17, 2021 12:23:08 GMT
Any east coast beach where my property can have an ocean beach view. Maine would be incredible but I would love a year round vacation home so it could be used in the winter.
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maryannscraps
Pearl Clutcher
Posts: 4,728
Aug 28, 2017 12:51:28 GMT
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Post by maryannscraps on Jun 17, 2021 12:36:52 GMT
This surprises me. I'm on the East coast and everyone I know who has a rental tells me it more than pays for itself. Most of the people I know have one and their rental income has paid for the home in well under 15 years. I agree, however, with others who say if you go for a beach home, be directly on the beach. IDK, maybe it’s the 1849 home in Maine that is the money suck. LOL. But small town Maine can make it really hard on rental home owners, too - they want the tourist income but also don’t like outsiders. Lots of regulations and stuff. And of course the maintenance can be a lot, and last year with Covid we couldn’t do any short term rental at all because the state had very strict regulations on who could travel there. We have a few different friends who have owned and sold vacation rentals because they consistently lost money in the short term. We’ve always played this as a long term game and bought where the market was low so we could eventually sell at a profit, but not everyone wants to take that kind of financial risk. Maine has a pretty short tourist season, making it difficult to bring in enough income. The coast of Maine is just so beautiful - if I had a vacation home, it would be there.
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psiluvu
Pearl Clutcher
Posts: 3,217
Location: Canada's Capital
Jun 25, 2014 22:52:26 GMT
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Post by psiluvu on Jun 17, 2021 12:40:19 GMT
Canadian here but a very good friend of mine has two rental properties in Nokomis Florida and they do quite well. Neither are on the beach but are close and it is nice area. Another friend has a property in Bradenton Florida, close to Disney, Cape Canaveral, Coco Beach etc. They use them January and February and rent them out the rest of the year and do quite well
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Post by Merge on Jun 17, 2021 15:47:51 GMT
IDK, maybe it’s the 1849 home in Maine that is the money suck. LOL. But small town Maine can make it really hard on rental home owners, too - they want the tourist income but also don’t like outsiders. Lots of regulations and stuff. And of course the maintenance can be a lot, and last year with Covid we couldn’t do any short term rental at all because the state had very strict regulations on who could travel there. We have a few different friends who have owned and sold vacation rentals because they consistently lost money in the short term. We’ve always played this as a long term game and bought where the market was low so we could eventually sell at a profit, but not everyone wants to take that kind of financial risk. Maine has a pretty short tourist season, making it difficult to bring in enough income. The coast of Maine is just so beautiful - if I had a vacation home, it would be there. You'd actually be surprised - there's a decently strong market for off-season tourism if your house is in town (as ours is). Access to cultural stuff and restaurants, short distance to winter sports, plus people wanting family accommodation for weddings, anniversaries, etc ... we know people who stay booked reasonably well. We choose to have a long-term renter November-May or so for a variety of reasons. I prefer to have the house occupied during freezes in case of burst pipes (and to help prevent them). We also have a predictable rate of financial loss. And it's a show of goodwill to a town that only reluctantly allows us to have a short-term rental permit at all (they are limited to 100 properties per year, renewed every year) because of the lack of long-term, affordable rental housing for the people who live there. It is beautiful, and we dithered a long time whether to buy a coastal property or one in town. The town won out.
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zookeeper
Pearl Clutcher
Posts: 3,909
Aug 28, 2014 2:37:56 GMT
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Post by zookeeper on Jun 18, 2021 0:04:34 GMT
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Post by Zee on Jun 18, 2021 0:16:56 GMT
There are few places I've wanted to spend time at more than once because there is still so much I want to see. But I have to say I found Sedona AZ and Sanibel FL to be places I'd love to have a rental property!
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Post by gramasue on Jun 18, 2021 0:59:26 GMT
Hilton Head Island, SC. LOVE! That's my choice, too. Gorgeous place.
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