There are a thousand different ways to invest in real estate. While single-family properties have and continue to be at the forefront, they are far from the only way to invest. Multifamily properties, commercial real estate, land, wholesaling, and yes...vacation homes.
The summer vacation rental has been around for a long time. It’s a strategy that seems like it’s best left to the experts, and, in many ways, that’s true. Vacation rentals aren’t for the faint of heart. I'll be very clear on the front end of this article and say that vacation homes are not our forte.
Kent Sr. owns several short-term, vacation rentals and as a company we have certainly explored them as an alternative investment for clients. So in our research and with Kent Sr.'s experience, we have a few thoughts.
While you might have pictures in your head of sipping a mojito on the beach while the money pours in, that’s not reality. Like any investment property, vacation rentals come with their own unique risks and challenges.