With summer in full swing it is prime time for vacation season. Right now, you may be reading this on the front porch of your vacation home with the sun just coming up and a cup of coffee by your side. You have been coming to the same spot every summer and just started considering owing a property to call your own. While owning in your favorite summer destination sounds great in theory, reality may be a different story. There is more to a good rental property than location. A popular summer destination certainly helps, but you need to evaluate the numbers, management and cash flow to see if it really makes sense. Here are five important things you need to weigh if you are considering a vacation rental purchase.
Vacation rentals can really be a great way to bolster your portfolio. However, always invest with your head and not your heart. There is a big difference in vacationing in a town and owning a rental property.