So how many of you when traveling on vacation how many people explore the area that you’re in for potential investment opportunities? A couple of advantages to this- you’re already in a new area so you don’t have to travel to it. If its a vacation spot you like to frequent then you you’ll be there in the future and can check up on it. Plus you could have a potential tax write off too, right?
I think about this every time I travel. The downside is that the places I go to are too expensive for me to actually buy something as an investment property. For example, on a recent trip to Florida, the building we stayed in had condos for sale, but in the million dollar range. It takes a lot of rental days to cover a nut like that.
Alternatively, for an investment at that price, I’d be more comfortable buying an apartment building here locally that has a more stable and consistent cash flow.