116. Luxury Vacation Rental RISK - Is This the Right Investment For You?

When most people new to the idea of investing in short-term rentals think of a potential investment they think about a Vacation Rental and NOT a normal property that might also be an excellent STR. If you've been tuning in to this show for while hopefully you've recognized that there are all types of STRs and they call can be successful investments. Some, however, come with more risk. I've tended to always recommend properties with good exit plans (that can be easily rented long term if regulations change or occupancy is low; not a normal characteristic of a LARGE vacation rental. With that said, I know lots of people want to go for the nice, chic, luxury vacation rentals! So this week we'll break down a few principles you should follow to determine if your potential vacation rental investment is going to be too risky. Break even occupancy Net worth and investments Emergency funds Back up plans  Age   You can check out Nassim's book here on Amazon Are you enjoying the podcast? Please subscribe, leave a rating and a review, and share it! This helps us reach others that may find the info helpful as well. Get a copy of my 12 proven house rules to protect your property from almost every negative situation (highly recommended)  You can find all of our links here including our website, recommended resources, upcoming live event, short-term rental playbook, Instagram, and more!