Black Hills, South Dakota -Vacation property turned profitable!
For newly retired airline pilot Richard Harrington, the next step was to follow his heart into real estate, and rental property sounded like the perfect place to start.
After visiting properties with his realtor throughout Lead, South Dakota, Harrington entered a cozy cabin near Terry Peak that took his breath away.
The property was an attractive home for vacation rentals with its close proximity to the nearby ski resort and its prime location in the Black Hills. And the icing on the cake? Harrington’s realtor owned a company that managed vacation rentals, making the process much smoother. With the deal closed, everything seemed smooth sailing, but after year one Harrington’s excitement turned to worry.
The property had only garnered a dozen bookings, barely covering his costs. However, he quickly realized the problem may not be the property, but the approach to vacation rental management. A commercial for a vacation rental management company sparked Richard’s interest with two key goals: cover costs and make a generous side income.
Companies like B&B Fusion help investors like Richard learn more about the market and what’s needed to turn their business around.
Harrington’s cabin now stays fully booked with lots of activity for Terry Peak skiers during the winter. Richard has now exceeded his revenue expectations and his whole family is involved in maintaining the cabin. His ultimate goal is to pass it down to them as a family business.
Make your vacation rental profitable with the vacation rental management services from B&B Fusion.