INTRODUC TION
WHAT COMES TO MIND when you hear the word profit? Some
might think of profit as the excess of returns over expenditure in a transaction. In other words, money. There’s certainly nothing wrong with that, but another defi nition of profit is to be of service or advantage; to derive benefit. I prefer this defi nition. As they say, “Invest in land, because they are not making more of it.” To this, I would add, “Invest in time with your loved ones, as they are not making more of it.” There are many investments that can turn a fi nancial profit; there are not many that can provide family memories, adventure, love, and connection. Consider the “profit” of seeing your spouse smile while lying in the sun by the pool, or of your child giggling in delight while taking her first ski lesson. Or how about the feeling you get from the “profit” of regularly having your entire family or group of friends together in your vacation home? Owning Vacation Rental Property (VRP) makes all this possible and more, including fi nancial gains. BIG fi nancial gains. Having spent two decades in the resort/residential industry, operating within the Hospitality, Development, Finance and Sales and Marketing sectors, I have observed this industry up close, and seen well-intended investors from other asset classes stumble before doing extremely well in VRP.
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