Does anyone have reference recommendations regarding recreational real estate?
Posted on July 19th, 2010 in Renting & Real Estate | 1 Comment »
niupt2k asked:
With the change in the housing market, I am looking to begin obtaining recreational real estate properties. I am looking for references that have been successful so I begin to research the tricks to the trade. I am looking for book ideas, or websites that people have found helpful in the past. I am looking at the Carolinas, Florida, or New Mexico as possible locations. Any advice or recommendations on reference would be greatly appreciated in advance. I am actually looking for some ideas on how to manage a recreational property. Are there any good books and/or websites that help to achieve this task?
Homes In Calabasas
With the change in the housing market, I am looking to begin obtaining recreational real estate properties. I am looking for references that have been successful so I begin to research the tricks to the trade. I am looking for book ideas, or websites that people have found helpful in the past. I am looking at the Carolinas, Florida, or New Mexico as possible locations. Any advice or recommendations on reference would be greatly appreciated in advance. I am actually looking for some ideas on how to manage a recreational property. Are there any good books and/or websites that help to achieve this task?
Homes In Calabasas
One Response
torrance plumbers
“Recreational Real Estate” is a very broad term that covers a wide variety of land uses. It would help to know which type(s) of recreational property acquisition and/or management holds the most interest for you personally.
While one might think that the downturn in the US housing market would translate to the RP market, you first need to understand that they are two very different sub-markets. You may very well find that prices for RP’s in your markets of choice have held steady or even risen appreciatively. Why?
It’s all covered in an article entitled, “Hunting for Recreational Properties” at the Certified Commercial Investment Member (CCIM) magazine website, so I won’t re-hash what has already been stated. Go to and search for “recreational property”.
Here is an abbreviated version of some generally accepted rules for finding and purchasing recreational real estate:
1 – Due Diligence: Once you’ve decided where you want to acquire your RP, familiarize yourself with the area its market values. Much of this research can be done using the Internet but nothing beats getting a realtor buyer’s agent to “beat the bushes” for you to keep you updated on the newest listings on the market, pre-foreclosures and FSBO’s of which you might otherwise never be aware. Buyer’s agents are legally bound to represent your best interests (as opposed to those of the seller) and are typically paid via a commission split with the seller’s agent at closing. There are exceptions, so be sure to ask any agent/broker you work with about these.
2 – Zoning: Make certain property is zoned for your intended use.
3 – Tax burden vs. Income Producer: If it suits your business model, timeframe, and/or personal values, try to have the land work for you. For land with marketable timber on it, large trees can be selectively logged and local sawmills will sometimes pay handsomely for the opportunity to harvest from your land. Timber sales, hunting leases, grazing rights, etc… are some opportunities that can help with the cost of the land while helping to ‘prime’ the property for future intended use.
4 – Buy waterfront property: Lake and riverfront still demands a premium and statistically shows the fastest price escalation. It’s all about supply and demand….recreational waterfront is typically one of the best investments one can make.
5 – Close enough: If waterfront is financially out of reach, buy near public-access points to the water itself. Non-waterfront lots still hold potential for appreciation and will typically enjoy lower property taxes.
6 – Analyze Trends (Think “Up & Coming”): See my answer to the question “Where is the best place to buy a house as an investment in the USA” by clicking photo. Actually, there are a couple of relevant previous answers there that might help you out.
A couple of books have been written on recreational land management and property valuation techniques, but again, I can’t be of much more help to you without more info. If you like, you may post more details here or go through my profile in case I miss your post.
FYI – my credentials may be found on source website below. Hope this helps, and good luck!!