How to Invest in Vacation Rental Property

best places to buy vacation rental property
A vacation home that brings rental income is a dream come true, but how do you buy one? Use this quick guide on how to invest in vocational rental property to help you prepare. Let’s begin.

Select a Place

Consider your preferences, but don’t forget to evaluate each location from the point of view of an investor and think in perspective. How long is the peak season and what is there to attract potential visitors during the low season? How popular is the place compared to other vacation spots nearby and ones that are further away, but are considered to be its major competitors? How is the local tourist industry developing?

Do Market Research

Once you know where your vacation rental property will be, you should go over the listings on popular websites to get a clear idea of the sales prices. Check how the inventory and the number of sales have been changing over the past six months to one year to get a clear understanding of the market trends. The next step in this research involves going through the rental rates to try to estimate how much you will be able to charge tenants. It pays off to take into account the vacancy rates at any given time and any cyclical changes in the rental property market.

Crunch the Numbers

Check your credit score to determine the size of the mortgage you will take out. Calculate any other expenses you will have on a monthly basis along with your mortgage payments such as association fees and property management fees. The next step is to determine how much you should charge for the vacation rental property to cover your costs. Then compare this number to the current rental rates that you’ve already researched to get an idea of your profit margin. The financial aspect of the investment planning process is the most important and most
complex, so it makes sense to use expert help.

Pick a Property

It’s natural to make your personal needs and requirements a top priority, but don’t forget that the place should satisfy those of potential tenants too. The location is naturally the top factor to base your choice on. The ideal rental property should be close to the major attractions. The more beds and baths there are, the better, but the comfort of the guests is important too. The view is another key factor to take into account. A property offering amenities that could provide for a great vacation during the low tourist season has a greater earning potential.

Prepare for Renting

It’s common for vacation properties for rent to be included in special rental programs, so the owners don’t have to do anything to attract guests. Still, sharing about your place on the social networks and possibly creating a blog where you describe your vacation experiences could prove to be an effective marketing move which doesn’t require any spending on your part.

Finally, experts recommend that you stay on your vacation rental property for a week or two to get a feel of what it’s like and make any changes and improvements, if needed. Then you just have to wait for your investment income to start pouring in.

How to Choose a Real Estate Agent to Sell Your Home

How to Choose a Real Estate Agent
Buying and selling things are common practices in our lives, but sometimes, there are things we cannot do by ourselves and that are better left to a professional.

One of those cases is when you are trying to sell a property. Not only because they are expensive and finding someone with the money to buy it is challenging, but because there are so many rules to follow.

Whenever you try to sell a property, the best thing you can do is to let a Real Estate Agent to take care of things, but you must be careful with whom you choose.

Depending on the person you chose, the results may be disastrous. Or it can be like a breeze, and you will have the money in no time.

To help you to choose the right real estate agent, I searched for some nice tips. Here is what I found.

Do not choose the obvious

When trying to sell something, we always want it to sell for the highest possible price. When it involves paying commissions to someone, we want it to be the lowest possible.

Though that seems reasonable, it may not always be the best scenario. For instance, it is better to pay more for an experienced real estate agent than to save some bucks on a novice. The most experienced realtor will sell your house more quickly, while the a novice realtor may struggle to do so.

Also, you should not expect your house to sell for millions if the market is on low demand, for example. An experienced realtor will know how to evaluate how much your property is worth or will have contacts, who can do it for you.

Check his or her experience

As I mentioned above, you should check and take the professional’s experience into account. How many homes has he sold in the last month or even semester? Knowing what houses he or she sold may help you to get in touch with the previous and current owners to get feedback on the professional.

That does not mean that you should not hire a fresh real estate agent if you think that they are competent enough to handle your case.

Make sure to get the expert in your type of property

Once again, getting to know what the agent is specialized to sell is a good thing.
Real estate agents that are specialized in apartments in the suburb may not be adequate to handle your sale.

Throw some curve balls

Ask a real estate agent you are interviewing for homes that he/she got sold in your neighborhood lately. Intent some fake sales and ask if they know anything about it. If he or she states that he or she knows about your fake sale, then avoid this person.

A good real estate agent should at least know well the area he or she works on.

Make sure he is properly backed up

Knowing if your agent is backed up by an agency or at least an assistant is key. If the agent works alone, there is just so much a person can do by herself. Nowadays, there are a plethora of sites to put your listing on, and a single person cannot handle the sheer amount of information that needs to be updated and given to possible buyers.

He or she may also get sick, have an accident or another tragic event. It is best to wish them to get better, but have someone to take care of your business while they are absent is better.

Get to know if he is a buyer or seller Real Estate Agent

When buying or selling a home, you will need to pay a commission fee, that is, the money you will pay the agent for his or her service.

This fee is usually 1.2~2% of the value of the property. For example, a 100.000 $ property will reward the reals estate agent with 2.000 $.

If your agent is a seller agent, that is, his or her only job is to advertise your property on the right places to attract a possible buyer, he or she will receive only the percentage of the sale.

If your agent is a double agent, that means that he or she will not only advertise your property but will also take people to visit your property and will, therefore, earn a commission on the purchase.

If you want to work with one rather another, that is up to you, but my personal choice are double agents. They are usually the ones who sell the property faster and for the best prices, but your mileage may vary.


When hiring a real estate agent, you need to make sure that your contract is perfect and that it includes clauses to cease it.

For example, you might state in the contract that it will end in a period of three months if the sale is not done. This will allow you to change your agent if you do not get the results you wanted.

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