Easy Income With Overseas Benefits

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.

Days are lazy, this is Fiji, after all, and I often switch between poolside sunbathing and resting in the shade of the hanging bed.

I eat tropical fruit picked that day, some of it from my own land.

During the rest of the year, when I open my bank statements and look at the balance I am reminded again what a great decision it was to buy a vacation rental. These are times when someone else is staying in the house and paying me.

Last year I made $54,000 in income from vacation rentals (this week alone I’ve received $3,250)…and that was for very little effort on my part.

I’ve learned all the tricks to maximizing this income and I’ve discovered the tax breaks that go with it. I can show you how to boost your occupancy.

Now, you may already have a second home overseas…or, you may be considering buying one. Well, I can tell you it has never been easier to manage a vacation rental and make money from it.

For example, with a listing on HomeAway and FlipKey, they will take the credit card information for you. No need to take checks or get a credit card merchant account. They’ve done the hard work of setting up a business to take money. With just a listing, you’re in business. All you have to do is give them your bank information to send the money to.

There’s some work in the beginning, sure. You, or someone you know or trade with, will need to take great photos. Don’t skip this step. So-so photos won’t get you the money you want. But, that’s a one-time effort. You can go years without updating them, unless you’ve added a new feature—like my outdoor, covered hanging bed—I definitely wanted to sell that on my listing!

And I saw a huge uptake in interest, and was able to raise my rates by $200 per week, which translates, so far, over the life of the hanging bed, to an additional $48,000. It only cost me $2,000.

That’s a ROI (Return on Investment) of 2,300%. Incredible. And, it’s a one-and-done. I’ll be steadily making $200 a booking from this hanging bed as long as I own my vacation rental. Professional photos to catch the morning sunrise were well worth the free stay for the photographer. It has the wow factor I want for my thumbnail photos on the listings.

I found just the right formula for success. And am now at 85% occupancy.

Honestly, I’d like to spend more time in Fiji. I could easily mark off January, February, and March on the calendar and have the place to myself. But I’m a practical person. I would lose $12,000. I’d much rather have that money in my bank account, after paying my expenses in Fiji, and find less expensive places to visit.

For those two weeks that I am there, I am queen of the castle. Happy with my decision to buy a lot and build…and utterly delighted that more than 500 families, more than 1,800 people and counting, have come to stay here.

If you’re on the fence, all I can say is, “Come on in! The water’s great!”

©iStock.com/oscillate

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