These homes provide “potential” income….
If you’ve ever heard of ( or used)
homeaway.com
then you know the potential power
of a rental….
Don’t get me wrong…
being a landlord isn’t
always amazing….
but if you really don’t care
if strangers use your place
while you’re not there….
and you get some rental income
to off-set your new mortgage….
it works out pretty well for some homes.
99% of these will be in Bedford County, as
Franklin County has an ordinance prohibiting short-term
vacation rentals unless the subdivision has “resort” status.
(Think Bernard’s Landing…)
How it works:
I’m not in rentals…
you would need to hire a rental company
after purchasing your lake home…
They collect rents, have the home cleaned
and book potential renters via sites like
homeaway and others….
They keep about 25-30% of the profit for the
short-term rental…
You book your own stays around
the bookings to maximize income….
There are about 17 strong rental weeks here…
your typical Memorial Day through Labor Day…
but if you’re creative, you can surely come up
with holiday specials year-round!
The caveat?
You’ve GOT TO GET ONE BEFORE FEBRUARY 1ST TO MAXIMIZE YOUR POTENTIAL INCOME…THAT GIVES YOU TIME TO CLOSE, CLEAN-UP, HIRE YOUR RENTAL COMPANY, ADVERTISE, ETC….
On 550 miles of shoreline, there are about 50+/- available
(not including doublewides)
That’s not a lot, and in-season
(that 17 weeks)
Good luck finding one!
- NEED THAT LIST?
- GO HERE NOW AND REQUEST IT
- (ask for waterfront short-term rentals) WITH YOUR EMAIL ADDRESS!!!
- http://smithmountainlakefronthomes.com/
All the Best!
Noreen
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Noreen Hartkern
WAINWRIGHT & CO., REALTORS (LAKE)
16503 BOOKER T WASHINGTON HWY
MONETA, VA 24121
540-420-1294
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ABOUT THE AUTHOR: Noreen Hartkern is a well-respected Zillow 5-Star Agent on Smith Mountain Lake, Virginia, with over 26+ Years of Real Estate Expertise. Noreen is an Accomplished Realtor, Real Estate Consultant, New Construction Specialist, Blog Writer & Photographer. In Addition to Listings and Sales, Buyers and Sellers Agency, She has Extensive Experience as a Home Renovator, Rehabber and Flipper, and is a Published Author on That Very Topic.
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