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Squirrel tidbit. In the 1990’s I worked for a fast food snack company. The traffic, population, zoning & growth evaluations to support a McDonalds location are incredibly expensive. My former employer would wait for McDonalds to do the work then purchase close by.
Unfortunately not doing the actual work proved flawed. Atlanta suburb, product highest demand was hot for breakfast at office. Location was on wrong side of street to be Atlanta bound in AM and traffic island impeded access
Actually this has relevance to this thread. It is important to do own location evaluation and keep in mind the target customer
Remember that burnt over fire zones may quickly become beautiful and renewed-by-fire. One of my favorite hikes in my area was completely burnt down 2 years ago and is already gorgeous with lots of new growth and the burned trees are quite dramatic. If you play the long-game, burned areas might be a great discount.
I’m sure there are lots of times this doesn’t hold true, but seeing past the current for the future might be a great way to get a bargain.
I own 2 vacation rentals that are over 5 hours driving distance from my home residence. I’m not familiar with the Midwest, but when reading through the above comments it seemed like people were discouraging you from long distance ownership. We have been ranked in the top 10 consistently on VRBO and Airbnb (competition is over 800 properties in the same area). Don’t be discouraged from being a long distance owner/manager. The key is smart technology, a good housekeeping service and a great handyman. We do not have any cameras, I believe they are invasive to the renters.
I own 2 vacation rentals that are over 5 hours driving distance from my home residence. I’m not familiar with the Midwest, but when reading through the above comments it seemed like people were discouraging you from long distance ownership. We have been ranked in the top 10 consistently on VRBO and Airbnb (competition is over 800 properties in the same area). Don’t be discouraged from being a long distance owner/manager. The key is smart technology, a good housekeeping service and a great handyman. We do not have any cameras, I believe they are invasive to the renters.
Just placed an offer on a very idyllic home in Lake Geneva. Fully furnished down to the pots and pans (even a crock pot). Fingers crossed.
@Annet3176 you sound like someone I could learn a lot from (i.e. you seem many steps ahead on on the path I’m just starting out on). Is there some way we could start a correspondence outside of this thread? I can’t find a private message feature here, or perhaps I haven’t been given those permissions yet? Let me know.
