A New Investment Venture; A Vacation Rental

 

by Sheila

I love real estate as an investment.  We recently sold a condo we had in Las Vegas (for a nice profit, since that's what we're talking about here) that we had fully furnished.  The money we made on this deal, along with the furnishings that we had acquired got us thinking that maybe we could do a vacation rental.  That, and the fact that my parents have had great success with this over the past several years.  

The condo in Las Vegas... SOLD!  Fun while it lasted but on to new ventures.

 

We have rented vacation rentals frequently when we travel (VRBO and HomeAway are good resources), and like this option for accommodations.  It is generally reasonable priced and provides amenities like a washer and dryer and a kitchen.  Our most recent trip where we stayed in a VRBO was two weeks on Maui with our good friends Tim & Lisa.  We relaxed on the Lanai and took turns cooking dinner most evenings, enjoying the view with a glass of wine.  Great fun!
 

Me & the Hubby; our VRBO condo in the background

 

Lisa & Tim on the Hula Girl Sailboat...Great friends & great fun!

 

My criteria for this property was to find something very close to where we live (if I am doing frequent turnover, I don't want to have to go across town), with a good floor plan for sharing with another couple or several families.  Also, I wanted something that could be made into a "resort" type of feel.  It needed to be priced right; I'd rather buy something that we could improve rather than pay for someone else's choices that I may not like.  With Pat's help (Ann's hubby is a realtor), we found a place on a 9-hole golf course 3 blocks away that I think will be good.  It definitely needs work, so I have a new project going on.  I'll chronicle the progress here as I make improvements and get it ready to rent.  



The new place - needs TLC - perfect!  Notice the Saguaro cactus; only in the Sonoran desert.

View from the upstairs balcony.  Great for golfers!

Okay, back to work.  I am patching the balcony and adding a waterproofing coating to it today...I do love power tools and paint!