Greetings Community!
I have spent several years floating the idea of buying a second home to either rent out part-time via AIRBNB or VRBO etc. or rent it out full-time as a straight residential property. I'm not going to ask for the difference between the two as there are already many threads on that topic, however I have a different question to ask. Is it possible to purchase a property that is more rural and not in a vacation area and still experience success? In my case, I feel most comfortable buying a property I can support and service myself, so I have two great vacation areas to choose from in New York State - the Finger Lakes area and the Lake Ontario area. However, the instant I look at properties directly on either Lake Ontario or the Finger Lakes, the prices seem to instantly jump by $100,000 and the idea starts to become less feasible. So, with that background information:
- Do properties that are not directly inside vacation "hot spots" rent well for vacations, or do they sit empty?
When I search rentals in my area, they are all clustered directly on the water, and the properties I have been looking at are in the empty spots 20 miles away from the water. Is there a pool of vacation renters who simply like to sit on a nice piece of property with 20 acres of crickets and deer around them, or is it futile unless it is on a major navigable, fishable body of water?
Thanks for any input, particularly if you have experience renting a property such as the one I described above.
