NELA Living Blog by Emilie Broughton

Considering the Purchase of a Vacation Rental Property?

You take a family vacation and rent the perfect place in the perfect little town and
begin to wonder whether you should buy a vacation property there. Here are some
things to investigate before you make the leap:
 Acknowledge your long time financial goals. Is this a property to rent out
year-round? To rent out when your family isn’t using it? A place to retire to?
 Investigate the location. Does it depend on seasonal tourists, or is it popular
all year? This will affect cash flow.
 Work with a real estate agent who can investigate the local housing
regulations and arrange for property tours.
 Figure out if the potential investment makes financial sense. Cash flow?
Operating Expenses? Net Income?
 Consider using a property manager to handle the details like calling a
plumber if you need one, managing cleaning between guests, and spending
your time as a landlord.

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