Buy a Class C RV with $100K loan; 10y @ 6% would be ~$1102/month.
Could rent out for April 1 to Oct. 31, (30 weeks, less 2 for us, so 28 weeks) @ $250/week = $7000 (see Note 1 for a first look)
Need $1102/month for loan = $13.2K/year; so need to come up with: 13.2 – 7 = $6.2K = $517/month
So this ain’t a “have other people pay for your toys” affair. And shouldn’t do unless can handle the whole amount, if for somehow the rental thing doesn’t work.
Notes/to-do:
- See here for renting out an RV: Revy; this guy is asking for $250/week; it would be necessary to know if he gets this 28+ weeks a year.
- Much of this makes more sense for a good used RV, maybe $20K invested to get it “good” so it’s not a problem renting
- Need to factor in insurance!
- Example RV: 24’=Jayco-2017-EX-RENTAL-100K$
- This reminds me much similar to something Jason Hudson heard about (go scammed into?) re: buying a sailboat in Florida, rent via 3rd party, reserve some weeks for self while still working, own it when retired. I think I dismissed that scheme back when I heard about it, but then, maybe possible here?
Rental sites:
rvezy.com
- Canadian (only?)
- reasonably easy to understand insurance coverage
- !!! motorhomes limited to Ontario, Quebec, Alberta !!!
rvshare.com
- better site (has map view, has availability calendar for each rental.
- but US only?
https://ca.outdoorsy.com/
- Canadian
- !!! motorhomes limited to Ontario, Quebec, Alberta !!!
- some shenanigans going on in their FAQs.
- links to .pdf files missing
- lotsa bad formatting, misspellings.
- looks like a dead site?
