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But owning a VRBO or Airbnb property isnt easy.
Many vacation rental owners purchase their property as a semi-passive income stream.
Others just want to offset their own vacation costs and have a property they can enjoy.
But that is the truth, Stephanie Walker told GOBankingRates.
But when we got home, Ryan and I started looking at the houses and were immediately hooked.
Ryan Walker is the owner ofR.J.
Walker & Co., a boutique public relations firm specializing in finance and technology.
With his corporate background and connections in the financial world, he has a keen understanding of investments.
The community features aclubhouse, pool and tennis courts.
Most importantly, the community allowed short-term rentals.
With synchronicity on their side, finding the vacation home was the easy part.
Some communities dont allow short-term rentals, and some municipalities makehosts and landlordscut through a lot of red tape.
Most places in the Poconos and Catskills require you to register short-term-rentals with the local government, Ryan said.
It took far longer than expected to get our STR permit.
Piping and electrical made absolutely no sense, they said.
It wasnt just the aspects requiring a professional contractor that put the Walkers dangerously close to their budget line.
Furnishing a home from scratch gets expensive fast!
It was so hard to predict just how quickly it would get rented, Stephanie said.
We optimistically thought it would start getting bookings immediately …
When in reality, it took a couple of weeks before rental requests started coming in.
The trend is to ensure your STR is an experience and not just a bed to sleep in.
As we were putting the finishing touches on the cabin, we started getting very attached to it.
Much more so than I thought we would when the whole thing was just a concept, Stephanie said.
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