Anyone know a great realtor in the Parksville area who specializes in Vacation Rental Homes? Anyone interested in purchasing a Vacation Rental Investment Property in the Parksville area. Please contact us via email at [email protected].
Looking for Mid Vancouver Island Realtor who specializes in Vacation Rental Homes
- Thread starter RKolb
- Start date
I would not use "vacation rental property" and "investment property" in the same sentence .. especially in the low occupancy / high vacancy Parksville area with perhaps an annual 20% occupancy [in a busy season]. Likely it won't cash flow even with no mortgage after one deducts condo fees, management fees and commercial (not residential !!) property taxes !
The only winners in these type of properties tend to be:
a) realtors taking a commission selling
b) developers once they sold maybe 40% [although many have taken a huge bath in those properties, as seen by at least 4 foreclosed condo project in the Canmore, AB area where I used to live]
c) property management firms managing the properties for a 25-40% rental management fee
d) cities who increase their tax base
The owner is usually holding the bag, funding all four parties listed !
Likely an expensive lesson learned for you ?
The only winners in these type of properties tend to be:
a) realtors taking a commission selling
b) developers once they sold maybe 40% [although many have taken a huge bath in those properties, as seen by at least 4 foreclosed condo project in the Canmore, AB area where I used to live]
c) property management firms managing the properties for a 25-40% rental management fee
d) cities who increase their tax base
The owner is usually holding the bag, funding all four parties listed !
Likely an expensive lesson learned for you ?
[quote user=RKolb]provide a return on investment.
for vacation rentals ?? .. such as ?
The only person buying is usually not a REIN member. The person buying is likely one that is strictly buying it for personal use and as such knows it is not an investment but a lifestyle expense !
Like a car ! Usually not a good investment .. and yet I too own one.
for vacation rentals ?? .. such as ?
The only person buying is usually not a REIN member. The person buying is likely one that is strictly buying it for personal use and as such knows it is not an investment but a lifestyle expense !
Like a car ! Usually not a good investment .. and yet I too own one.