| By Rumi Vekova |
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| July 18, 2009 02:56 PM EDT |
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398 |
Let's start by eliminating the "don't wanters," those aspects of a vacation property that you don't want, under any circumstances.
First, you do not want to purchase a home where there are laws or restrictions prohibiting short-term or transient rentals. Check the local laws and neighborhood or complex rules. Condominium comolexes are notorious for having exclusive in-house rental management companies which would prohibit you from renting by owner — if your objective is to cash flow on your property, I would stay away from these types of properties.
Some municipalities have very strict guidelines as to when you can and cannot rent, some do not allow rentals at all. Properties on government owned land, such as Army Corp of Engineers, or state and nationally protected lands often carry very strict rules also. This is where a licensed local real estate agent would most likely be a valuable source for information.
Aesthetic Rehab
In viewing properties, many people overlook purchasing properties that just need a measure of TLC — tender loving care. Those who can see past the blemishes and visualize a polished result — and willingly add their own sweat equity — are able to pay less money and realize quick appreciation.
My biggest passion is travel. Freedom and adventure, new experiences.
When traveling I most enjoy meeting new people and learning about local traditions. I am awed by the beauty of nature, and thrilled by creativity in all of its expressions - fine arts, handcrafts, music, theater, local food specialties, and, of course, gelato.
I’m a twenty-something girl who has been on the road regularly since 2001. I’m a native from Bulgaria but lately, everywhere has been my home. After a trip to Taiwan in 2001, I decided I to leave the rat race behind and explore the world. I came to America, finished my Masters, quit my job, and, in 2005, I set out to travel around the world. I’ve been traveling ever since.
Generally, I've not been big on the online social networks. But I am now on Facebook and LinkedIn, although I usually only accept friend requests from people I know in real life.
I own few vacation rental homes, and have a lot of experiance in the hospitality business. On my Vacation Rentals blog i'm tryingto help other owners not to make my mistakes again...
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