It's really kind of wild. We rented a house on the Chesapeake Bay last summer. Newly remodeled (was very run down the year before - we've visited this town several times) with decent finishes. The manager runs a little real estate empire, either owning or managing rentals all along the I-64 corridor in VA (VA Beach through the Blue Ridge). She also runs a consulting business for people looking to get into the vacation home ownership game.
I used to dream about owning a vacation home, but my parents bought a beach house about 15 years ago. They'd rent it peak season, but keep it for family use on the shoulders through winter. It was fun for a few years, but eventually the constant upkeep and expense wore them down and they sold it. Renters can be real animals - constant stream of broken furniture, stolen kitchenware and decorations, and just plain weird stuff like broken bathroom mirrors. Really opened my eyes, at least to a money-making rental property.
I used to dream about owning a vacation home, but my parents bought a beach house about 15 years ago. They'd rent it peak season, but keep it for family use on the shoulders through winter. It was fun for a few years, but eventually the constant upkeep and expense wore them down and they sold it. Renters can be real animals - constant stream of broken furniture, stolen kitchenware and decorations, and just plain weird stuff like broken bathroom mirrors. Really opened my eyes, at least to a money-making rental property.