Ideas for Vacation-income generating homes locations with all year around use

[Anonymous]

Any of you have experience with buying a vacation home where you rely on rental income to cover some costs and it’s in demand all year around? What locations are the most ideal that would be enjoyable for a family who owns it and also would be rentable in different seasons? I immediately would think of FL for the beach access all year around and strong demand in the colder months and being able to use it in the summer when kids are off school (I don’t mind the heat if at the beach). What else? Anything closer to mid Atlantic or NE further north?

[Anonymous]

The idea that someone would buy real estate in florida in this day and age is INSANE.

Besides the political stuff, the fact that it will be uninsurable, and uninsurable for the reason that the state is a literal disaster 8 months of the year.

What are you even thinking?

[Anonymous]

Anywhere on 30a. As long as you have a few million to spare.

https://redf.in/0UEs4Y

[Anonymous]

I think you are unfortunately a decade or two late for your money making scheme. The average chump won't be able to afford his own mortgage by next year, let alone a vacation.

[Anonymous]

Anonymous wrote:I think you are unfortunately a decade or two late for your money making scheme. The average chump won't be able to afford his own mortgage by next year, let alone a vacation.

Speak for yourself. Not everyone is poor

[Anonymous]

What is your comparative advantage in doing this? Why do you want to be a long-distance land-lord? Your approach seems ill-thought out...

[Anonymous]

College campus housing.

[Anonymous]

Anonymous wrote:College campus housing.

Newark DE. Crazy low property taxes in Delaware and tons of kids at UDELL looking for housing. Plus all the university employees. Plus it has an Amtrak stop. You can actually get to Philly, DC or NYC pretty quck from Newark on Train

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think you are unfortunately a decade or two late for your money making scheme. The average chump won't be able to afford his own mortgage by next year, let alone a vacation.

Speak for yourself. Not everyone is poor

No, but the people who want to rent a condo for a week in daytona beach are.

Also, do your research and look at property records in places like Hilton Head. Notice any patterns? Still want to buy?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think you are unfortunately a decade or two late for your money making scheme. The average chump won't be able to afford his own mortgage by next year, let alone a vacation.

Speak for yourself. Not everyone is poor

No, but the people who want to rent a condo for a week in daytona beach are.

Also, do your research and look at property records in places like Hilton Head. Notice any patterns? Still want to buy?

Not in Hilton Head. Florida absolutely

[Anonymous]

With the exception of mud season, there are places in Vermont that have potential for summer, fall and ski season.

[Anonymous]

Anonymous wrote:

Anonymous wrote:College campus housing.

Newark DE. Crazy low property taxes in Delaware and tons of kids at UDELL looking for housing. Plus all the university employees. Plus it has an Amtrak stop. You can actually get to Philly, DC or NYC pretty quck from Newark on Train

Oh I would not want to deal with the turnover and wear & tear of college students, and it's NOT a nice vacation destination at all in the summer. Didn't Georgetown homeowners bail on georgetown students big time? It's more profitable to just sell to people who can afford Georgetown than to be landlords.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:College campus housing.

Newark DE. Crazy low property taxes in Delaware and tons of kids at UDELL looking for housing. Plus all the university employees. Plus it has an Amtrak stop. You can actually get to Philly, DC or NYC pretty quck from Newark on Train

Oh I would not want to deal with the turnover and wear & tear of college students, and it's NOT a nice vacation destination at all in the summer. Didn't Georgetown homeowners bail on georgetown students big time? It's more profitable to just sell to people who can afford Georgetown than to be landlords.

My kids last house she rented had same lease in place for years. It was a five bedroom house so five kids always. People at Delware rent off campus pretty much for three years. Most off campus housing is walking distance to School so no car needed in many. Her one had not had all five graduate in years. She was replaced in her bedroom when three out of five graduated with three new students.

But is is a dump in summer when students clear out. Almost like a beach town in January. My regret my kids got accepted there in Covid and everyone was remote at one point then only Freshman and graduating Seniors allowed on campus for while I should have bought properties back in Fall 2020. I would have made a killing. Rates were super low and housing was a steal as whole campus shut and the rental market dead. It bouced back by Fall 2021. oh well

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think you are unfortunately a decade or two late for your money making scheme. The average chump won't be able to afford his own mortgage by next year, let alone a vacation.

Speak for yourself. Not everyone is poor

No, but the people who want to rent a condo for a week in daytona beach are.

Also, do your research and look at property records in places like Hilton Head. Notice any patterns? Still want to buy?

Not in Hilton Head. Florida absolutely

But it’s a pattern that repeats itself in any vacation beach rental place… don’t be a dummy.

[Anonymous]

Anonymous wrote:The idea that someone would buy real estate in florida in this day and age is INSANE.

Besides the political stuff, the fact that it will be uninsurable, and uninsurable for the reason that the state is a literal disaster 8 months of the year.

What are you even thinking?

Rep Donalds will almost certainly be the next gov and solving the insurance crisis is his #1 focus. If I had some extra cash I’d try to pick up some property in 2026/2027 when the FL market bottoms to take advantage of the boom once the insurance crisis is fixed. Also if you pay cash for the house outright the insurance is significantly lower. We pay $3K/year for home and flood insurance for a 1980s duplex 50 ft from the ocean.