Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation
If you want to invest in real estate to generate some passive income, know that there are two types of passive income opportunities: long-term rentals and vacation rentals.
Long-term rentals run anywhere from six months to a few years. On the bright side, you are guaranteed passive income every month from a long-term rental. On the other hand, your income, or ROI, gets lower over time. You are also bound to the renter by a contract for a certain amount of time. If you have any issues with that person, you’re stuck with them anyway.
“
Vacation rentals can get you more income.
”
Vacation rentals, however, can get you more income. In fact, you can get $3,000 to $10,000 per month in income. Your income is dramatically increased, and, because Las Vegas gets 50 million visitors annually, demand for vacation rentals is sky-high. However, you don’t know when the next renter is coming in. The number of renters you get also will depend on the season and the location of the rental property.
If you have any questions, give me a call or send me an email. I would be happy to help you!
