Tips for Getting Cash Flow when Purchasing a Second Home!
I help my clients know the real estate market & how it works year-round—not just when the property will be used. Knowing the specifics of the local market,& giving details about potential income will make it attractive to a second-home buyer. Many cities & towns have restrictions for renting on Airbnb or VRBO. Condominium buildings may also require a minimum period for renting. What buildings along the beaches have 7 day, 1 month or 3 month rental policies? After purchasing a vacation rental, furniture likely will get broken, so, avoid outfitting your space with expensive items. Spent more on mattresses, pillows and sheets because that’s what people use the most. Use neutral colors, fresh paint & simple furnishings to make it attractive online. Consider having an office area set up for renters who may work from home while staying.