Author Topic: Brilliant idea I heard today about living in a resort area  (Read 2002 times)

quilter

  • Stubble
  • **
  • Posts: 149
Brilliant idea I heard today about living in a resort area
« on: April 08, 2014, 01:44:33 PM »
Today I heard a great story. A young woman lives in a very nice Florida beach community. Of course, housing costs are high. She works in a restaurant and has a nice house a block from the beach. What she does is rent out her house during the busy season of January through March when all the snowbirds want to come down here.  She moves in with a friend and pays her part of the rent she gets. She also works as many hours as she can during these busy months so isn't home much anyway.
The amount of money she makes during this season enables her to work very part time the rest of the year and live in a high cost house. She is the able to play volleyball, surf, and make the most of living in her locale for nine months through her three month sacrifice.

Just wanted to throw out this idea to bring up an out of the box idea.  Of course, you really have to do your research to make sure it would work, but I thought it was brilliant. 

totoro

  • Handlebar Stache
  • *****
  • Posts: 2102
Re: Brilliant idea I heard today about living in a resort area
« Reply #1 on: April 08, 2014, 01:56:52 PM »
We have a vacation rental.  Our neighbour does something similar. She camps or stays with family in the summer and rents out her house at a high rate.  She also caters a lot of events in the summer and manages eight other vacation rentals.  She lives in her house the other 10 months except when takes long trips overseas and rents it out for three months.  Summer pAys most of her yearly expenses

brandino29

  • Bristles
  • ***
  • Posts: 323
Re: Brilliant idea I heard today about living in a resort area
« Reply #2 on: April 08, 2014, 02:58:53 PM »
My brother used a similar strategy a few years back.  He lived in Austin at the time and he and his roommate rented out their 2 bedroom 2 bath house for the week of the South by Southwest festival for an insane amount of money.  His roommate spent the week living with his girlfriend and my brother had an all expense paid trip to France to visit me while I was living there. 

If you live in a destination location, it's a pretty sweet way to earn a little extra cash.  When you live somewhere where nobody wants to go, I guess you're just SOL.

NinetyFour

  • Walrus Stache
  • *******
  • Posts: 6797
  • Location: Southwestern US
Re: Brilliant idea I heard today about living in a resort area
« Reply #3 on: April 08, 2014, 03:07:59 PM »
One might want to check with their municipality regarding rules/regs about this sort of thing.  I know that my town is clamping down on "vacation rentals".  But if it's legal, I think it's a great idea!

tmac

  • Bristles
  • ***
  • Posts: 472
Re: Brilliant idea I heard today about living in a resort area
« Reply #4 on: April 08, 2014, 03:13:23 PM »
I live near a smallish town that hosts an international business meeting twice a year. It quadruples the size of the town, and there are nowhere near enough hotel rooms. Hundreds of people within a 30 minute drive rent out their houses for the week (modest, fancy, whatever). They camp, move in with family, or take vacation. There are real estate rental companies that do nothing but manage these transactions. My boss rents out her 8,000 square foot monstrosity to the same 8 people twice a year and makes about $30k per year.

totoro

  • Handlebar Stache
  • *****
  • Posts: 2102
Re: Brilliant idea I heard today about living in a resort area
« Reply #5 on: April 08, 2014, 04:19:46 PM »
Vacation rentals are legal in my town. The city benefits from the license fees.