Adding a Vacation Rental Property to Your Portfolio With James Bauslaugh
The idea of vacation rental investments has been increasingly popular in recent years, and for good reason: the development of the private lodging industry and the expansion of the economy have made it much simpler for families to take more holidays on their own.
More individuals are finding discretionary cash to spend on trips as the economy gets better.
Contrary to popular belief, owning a vacation rental property is not exactly the same as regular real estate investing. It takes extensive market research and income projections to buy a vacation rental property. (Remember that adding a vacation rental to your portfolio implies you’re adding a property that will have vacancies all year long, unlike a standard buy and hold property.)
In this episode, James Bauslaugh joins us to talk about key information that every potential vacation rental buyer should be aware of before submitting an offer and starting the purchasing process.
When buying a vacation rental home, investors who follow the necessary processes are quite likely to profit from the various benefits this investment offers. The advantage of vacation rentals that stands out the most is increased income flow. Short-term rental websites are a great way to earn money, and you will earn much more if your house is in high demand.
1:04 James Bauslaugh’s story
3:56 Key lessons learned when starting out in real estate
9:38 What is the vacation home niche as it relates to real estate
13:49 The power of a sppport group and teamwork
15:10 The benefits of renting out a vacation home
20:20 Seasonality and pitfalls of renting out a vacation home
24:07 Figure out if the purchase is worth it for you
24:51 The benefits of finding a mentor
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Vodyssey – Shawn Moore Real Estate Coaching: https://www.linkedin.com/in/shawn-moore-393454173/
Air DNA- Vacation Rental Data: https://www.airdna.co/