Vacation Home\Condo

[Patricksp]

Since we go to Disney a lot we were wondering if anyone here has bought a Condo that they stay and rent out to others that want to stay near Disney.

 

[NH-to-FL]

Yes, a few years ago at the dip in the real estate market we bought a house near Disney with the long term goal to retire there. We rented it and made frequent visits ourselves. There are many houses and condos in the rental market near Disney. And after a pause during last few years many more are now being built.

I am sure others will chime in but while it was nice having a second home near Disney renting was by no means a financial success. High expenses, wear and tear costs, and only a moderate occupancy rate made it a money losing operation. Even after counting the money saved for not having to pay for a hotel during our visits. Thankfully we knew this going in and were prepared. Our goal was not to make money, just help offset the costs. The biggest thing for us was that we bought at the low point in the market and made a low offer that was accepted. We might have increased our rental income if we had invested in additional improvements but the house more than satisfied our needs and we only planned to rent for a few years.

I am now retired and we no longer rent the house.

It is wonderful having a second home near Disney. Just make sure you work out the numbers before you jump in.

 

[Patricksp]

We are thinking the exact same thing, offset the costs and then retire in FL.