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There is a lot I want to do with real estate. Condos are something that I have been talking a lot about lately as I believe that it will be very easy to make money off of renting out condos, but I recently realized that the biggest opportunity might be in Cabins. With Cabins, I would not want to rent these out to people who are wanting a home, but I would want to rent these out to people wanting a vacation. I'd probably use something like Airbnb or Verbo or something to do this. \
The reason I want to do this is because people are willing to spend quite a bit on vacations. I could probably rent a cabin out for $200-$300 a night. Let's say that I was only able to get $200. If I ONLY rented out the cabin on weekends, I would make $2400 a month off of these cabins. That is what I would expect to make.
Obviously, I would likely finance the purchase off these cabins, and I believe i'd probably be paying around $1,000 a month for each cabin. This means that each cabin I own would profit $1400 a month. I would, however, have to pay someone for maintenance of the property, and I would have to pay a little for insurance on the cabin as well although I factored that part into the $1,000 payments. I'd realistically only be making around $1,100 a month on each cabin.
However, once the cabins are paid off, I would be looking at around $1,800 dollars a month in profit. This is far more than I believe I would make off of my condo plan.
The cabins really wouldn't be that expensive to build. What would be expensive is the property itself because it would have to be in pretty desirable locations. Of course that is not really a con because the better the location the more people would be willing to pay.
I think that this could be an amazing way to make money.
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