Buying property in a location you love

One option is to invest in a vacation rental property somewhere you already love to visit. That’s what we did. You get it all: a home away from home when you want to go on vacation – and rent it out to guests for cash flow the rest of the time when you aren’t there. When you purchase a property in a location you love, it brings a unique perspective into what other guests may want when they travel to that area. You know what the area is like and what other can experience. That knowledge can give you a competitive advantage in the marketplace. Before you fall in love with a particular property, consider properties that have a great location: close to local attractions, restaurants, nightlife, beaches or whatever it is that makes visitors select that location. There is a huge difference between “driving distance” (or taxi) and “walking distance” when prospective guests decide which property to book. It is wise to bear that in mind when you are select...