Can a vacation home investment be your path to the vacation you have been waiting for?
768 million vacation days went unused in 2018 according to USATravel.org.
Why? Who doesn’t want a vacation?
The reasons these days go unused are very relatable:
- Fear of losing job security
- Fear of losing financial opportunity
- Fear of losing professional value.
In other words, people don’t feel like they can afford to take a vacation without sacrificing money, security or identity.
So the very experience that is supposed to provide rest and relaxation becomes the cause of your stress.
There is another option
There are 860,000 vacation homes are purchased every year.
And, over 30% of all vacation homes are being rented out generating $1.3 Billion in annual revenue., according to Airbnb.
The result is impressive. A survey by short-term rental marketplace HomeAway found the average owner who rents out a second home collects more than $33,000 a year in rental revenue. At HomeAway rival Airbnb, the average host on that platform makes about $11,000 a year.
Simply stated, owning a vacation home is a way to eliminate those fears by providing alternative, passive income and a dedicated place the spend those vacation days.
“Vacation homes are what rich people do!”
You are not wrong because the wealthy have learned that purchases that provide multiple streams of income are good investments. However, the average income of a vacation rental owner is $89,900.
Sounds great; maybe some day.
Companies like Airbnb and VRBO have made it easier for people to use their vacation property as a rental property. This means that once you have a property that generating income is easier than ever.
But what about becoming a vacation property owner?
The problem still remains… the money.
Taking another lesson from the rich: Pooling capital to make an investment allows us to generate more income faster.
Many of us already take vacations with friends and family. During these vacation it is not uncommon for the “we should do this more often” or “what if we owned a place like this?” conversations to surface.
We don’t act because alone these are wishes.
Together they are a business with multiple benefits.
So yes, a vacation home investment can be your path the vacation you have been waiting for.
Today, TribeVest makes it easier to build a business with friends and family the right way. Instead of worrying about your next vacation, grab your tribe and own a place where you can come together and an investment that allows you the freedom to enjoy it.