Quote:
Originally Posted by alf
Soooo, dad911 is it a pain in the ass to own a vacation rental?
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I don't rent it. I bought it to preserve my sanity, and escape the jersey winters. I go about once a month. But I am self employed, and can leave when it is slow. So I have a reason to take the vacations that I haven't taken for the last 20 years.
Interview property management companies first. A good manager will be able to outline realistic rates, expenses, and occupancy.
On the purchase, don't be afraid to throw out low offers. Mine was 100k below market, agent was reluctant to present.
I haven't been to Maui since our honeymoon in '84. Fairly deserted back then. Could have bought a 40 acre farm for $200k, on the road to Hanna.