When I wake up in my vacation rental home in Fiji, and pull back the curtains to see blue waters...picturesque islands...my private pool...the hanging bed...I know I made a great decision buying this place. I get to spend two weeks a year chilling out here...snorkeling every day, just a short walk down my private stairs. It's like swimming in an aquarium. The coral is so pristine and healthy.
When I fell in love with the Pacific island of Fiji in 1999, my mom, who's a steady, smart person, implored me to reconsider building a vacation rental in such a distant locale.
With vacation rentals, location is everything. Except for the little luxuries, like upgraded kitchens, a water feature (or three) or a luxurious master suite.
I talk to a lot of people who are considering renting their second home out to vacationers. Some of them already have a home, sitting empty most of the year.
I could never have afforded my tropical-island property if I didn't use it to earn. And earn it does...I bring in between $50,000 and $60,000 a year. If you rent your second home part of the year, it can pay for itself. In fact, it may even make you a healthy profit. But you need to know how to successfully market your overseas dream pad to vacationers.
You may remember a time, as recently as a decade ago, where vacation rentals were simply in beach areas. If you were like me, you got a huge catalog each spring, in full color, with a tiny photo of each house, and a cryptic description: "2bd/2bath Between the roads, onsite parking, rooftop view."
I could never have afforded my tropical-island property if I didn’t use it to earn. And earn it does…I bring in between US$50,000 and US$60,000 a year. If you rent your second home part of the year, it can pay for itself, in fact, it may even make you a healthy profit.
While I have a second home overseas, I’m certainly never going to be featured in “Lifestyles of the Rich and Famous”—even though people may have put me in that category. How can I afford a luxurious home on a tropical island without a millionaire’s bank account?
I have a home in Fiji…that pays for itself. You can insert any international locale here: Tulum, Dominican Republic, Spain, and it will have the same effect among your friends, instant celebrity status…and the same potential to make you money. But that’s not why I bought the land in Fiji and built a house. It Read more...: Easy Money With This Vacation Rental Secret
I am the only one on the planet with this particular view. The sun is rising over three beautiful islands and an ocean that's pale aqua-blue turning to turquoise where the untouched coral reef is, then to cobalt in the deep water. I watch the lazy boat traffic and ever changing light from my covered hanging bed. There's a trick with hanging beds I've discovered—get one side slightly shorter than the others, and it will automatically sway.