Vacation home to buy (Palestine, Port Aransas: for sale, rentals, buying)

[frenzyrider]

Anyone knows whether buying a vacation home (not time share) is a good option. We like broken bow since it is less than couple of hours so we were thinking of buying it and give it away for rent through a property mgmt company. Any pros and cons or any other nice scenic place closer (less than 3 hours) to north dallas? We are thinking a 2 or 3 BR max but very green and good access to a lake or something.

[WorldKlas]

Maybe the first step in reasearch is to see if there are lots of rentals around Grandbury Lake, Lake Palestine, or other lakes about 90 min from the DFW area. We used to have a place on Lake Palestine. Not a good investment back then. Sold for same as paid for about 15 years after ownership. But lots of fun.

[RedTexanTea]

Originally Posted by frenzyrider

Anyone knows whether buying a vacation home (not time share) is a good option. We like broken bow since it is less than couple of hours so we were thinking of buying it and give it away for rent through a property mgmt company. Any pros and cons or any other nice scenic place closer (less than 3 hours) to north dallas? We are thinking a 2 or 3 BR max but very green and good access to a lake or something.

I can tell you what my friend's experience is on a Broken Bow cabin that she owns. She has a 3/2 cabin that she bought for $85,000 3 years ago. Her payment is $450 a month. The cabin pays for itself every year and then some. She has handed it over to a vacation rental management company. The cabin rents for between $150 to $220 a night depending on the season or day of the week.

When I was visiting her cabin in March the local restaurants and shops were full. The Girls Gone Wine Winery was full and there was a line to get into wine tasting. Most people I encountered in the Broken Bow area were from Texas and not from Oklahoma. The waitress at the Blue Rooster in Hochatown indicated most of the people in the restaurant (completely full in March) were from out of town and not local.

Typically when looking for a vacation home there are less listing during high season, you may not find a lot of cabins for sale right now. If a vacation property were a direction I wanted to go with my money I would definitely consider Broken Bow. That being said I have another friend who has 3 vacation homes in Port Aransas and all of her rentals are making money as well. The price point to get into Port A is a lot higher than Broken Bow.