When most people new to the idea of investing in short-term rentals think of a potential investment they think about a Vacation Rental and NOT a normal property that might also be an excellent STR. If you’ve been tuning in to this show for while hopefully you’ve recognized that there are all types of STRs and they call can be successful investments. Some, however, come with more risk. I’ve tended to always recommend properties with good exit plans (that can be easily rented long term if regulations change or occupancy is low; not a normal characteristic of a LARGE vacation rental. With that said, I know lots of people want to go for the nice, chic, luxury vacation rentals! So this week we’ll break down a few principles you should follow to determine if your potential vacation rental investment is going to be too risky.
- Break even occupancy
- Net worth and investments
- Emergency funds
- Back up plans
- Age
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