So the second home vacation rental real estate bubble has burst according to most experts and the family vacation is going through a metamorphosis according to some, right? Not necessarily folks. While economic indicators are falling in virtually every sector of our economy, here’s a news flash for you. The Hospitality Industry if not exactly thriving in Destination Savannah is certainly sustaining most of the old timer vacation businesses thanks to the 6 to 7 million travelers coming to the Hostess City year after year. There is a reason that Savannah’s Landmark Historic District currently is and has consistently been named a Top Ten Vacation Destination amongst Travel Industry leaders year after year, Conde Nast and Travel and Leisure.
When it comes to making well informed vacation rental purchase decisions in a due diligence methodology, it is easy to recognize whom the savvy investors are and whom they are not. Separating fact from fiction even in a market as robust as Savannah’s 2.5 square mile “location, location, location on training wheels” destination requires some degree of sophistication in implementing a big picture cash flow strategy. It is easy to get caught up in the happy talk of the so called “experts” who are identifiable as being more interested in getting you to list your proposed real estate purchase within the vacation rental directory they represent. Not so fast there pilgrim, how do you propose to get separation amongst a galaxy of other absentee vacation rental rookies and players?
No Virginia, conventional wisdom vacation rental marketing tactics will not likely create an investment model that will allow you to operate in the black annually amidst falling real estate values and tanking nightly room rates. There are a lot of factors to consider if you ever do hit the bulls eye of this long range target. But why share our successful Savannah Vacation Rental methodology honed over the past ten years to the investors we serve or our competitors alike in this open forum? Send me an E-mail and will spend a few minutes with you one on one for free conveying what I have told many, many more historic district property investors over the years like we did with these folks that purchased one of our own private properties several years ago.
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