Purchasing a vacation rental on the Texas Coast?
Tuesday, August 19th, 2008Tina F asked:
My husband & I are looking into purchasing a small vacation home on the Bolivar Penninsula (or surrounding area). Our immediate plan would be to rent it out and use it ourselves on occasion. Would it be realistic to expect that the income from renting it out during the tourist season would pay all or most (75%) of the monthly mortgage payments for the year? What are some of the advantages/disadvantages of doing something like this? What are some mistakes to avoid? Any insight from people who have done something like this would be wonderful!
Rachel
My husband & I are looking into purchasing a small vacation home on the Bolivar Penninsula (or surrounding area). Our immediate plan would be to rent it out and use it ourselves on occasion. Would it be realistic to expect that the income from renting it out during the tourist season would pay all or most (75%) of the monthly mortgage payments for the year? What are some of the advantages/disadvantages of doing something like this? What are some mistakes to avoid? Any insight from people who have done something like this would be wonderful!
Rachel
