We felt this article offering tips from Realty Times really hit home for our area. Much of the real estate in our area is an investment in a cabin for a vacation rental program. Mountain Realty Group can help you with this investment with connections to our partners for needed services, and opportunities to view excellent listings.
“If you’re a first-time real estate investor, now’s the time to grow your wealth through the booming vacation rental market. According to Technavio, a global market research company, growth in the vacation rental market is expected to hit $194 billion in total value by 2021. Short-term vacation rentals are frequently more affordable than hotels and often more comfortable. Vacation rentals can be profitable for someone looking to grow wealth through real estate. Here are a few tips if you’re considering a move into the vacation rental market.
The Right Spot
First, think like a vacationer. You want a place in a beautiful and easily accessible natural setting, with lots to do and see. Read More…
Assess Your Financial Situation
Review your financial picture, paying special attention to your income, debt-to-income (DTI) ratio, and credit score. Read More…
Best Loan Options
Conventional loans are often the best option for an investment property because they’re relatively cheap. Read more…
Show Lenders an Appealing Financial Picture
Having a plentiful supply of cash is one of the best ways to show lenders you’re a good candidate for a loan. Read more…
The Tax Factor
Even an inexperienced investor understands about property taxes and knows to factor it into expenses. Read more…
A vacation rental property can be an excellent investment for a novice looking for ways to generate wealth. Growth in the short-term rental market and the desirability of a temporary vacation home rather than a hotel room make it a profitable investment.”
