Start small, smart or go Big

Start small or go big?  After you’ve selected the location, the next decision is what type of property do you want to buy? Condos can be a good choice for first-time vacation rental investors.  They tend to be less expensive than single family houses, and less maintenance.  They can include resort-like amenities that draw potential guests, such as on-site staff, spas, pools, exercise facilities, and and a concierge service. A study done by Rental Advisor found that when investors restrict a property to 2 guests per bedroom, there is a reduction of 40% in profits and rental visibility. Rental Advisor suggests one bedroom units accommodate groups of 4 or more, with two bedroom units accommodating up to 8 guests. For added sleeping space, include multi-purpose furniture such as a sleeper sofa, futon, or two full size beds per bedroom. Doing so with significantly increase bookings and thereby increase your return on investment. A word about property that needs improve...