The recession producing low prices in just about every location in the nation coupled with mortgage interest rates at the lowest levels in history has open up an investment opportunity not to be passed up.
A vacation property is no longer for the affluent or the retiring generation. The Internet has provided an avenue for young investors to experience success lining up renters.
According to HomeAway, leading online vacation rental, second homeowners who rent their homes to travelers, on average, generate more than $35,000 in rental income each year.
On average, second homeowners are renting their properties to travelers 20 weeks a year and the rental income generated is helping many owners offset mortgage and upkeep costs. In fact, the HomeAway report found 38% of owners generate enough rental income to cover 75-100% of their mortgage. Nearly two-thirds (63%) of owners earn enough to cover at least 50% of their mortgage.
Despite the recession, second homeowners throughout the country find that travelers are continuing to book stays, due in large part to the value afforded by a vacation home compared with a traditional hotel. In choosing between a vacation rental and hotels, 77% of travelers choose a vacation rental over a hotel because of the home-like experience.
So if the mountains or ocean front property is your goal, send me an email at mbracket@hotmail.com. I have the property for you! Don’t let this opportunity pass you by.
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