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Posts: 2
| Good morning!
I've always wished to own a rental property on a Lake. In this case, more than likely Lake of the Woods. I was hoping to gather feedback on what you look for when traveling or renting on fishing vacations? Price? Location? Amenities? Need to be on the water?
My vision would be to offer at a price point well discounted from other local providers. Most cabins at the Angle are $50-$75 per person per night. I would be looking at a complete cabin rental at a nightly rate of $80 per night. Location would be on the mainland at the Angle. Likely on the water, but looking at off-water locations as well. If not on the water, a slip at a local marina would be included. Small cabin, bunks for 8-10. Internet access. The cabin would not be anything special. Neat, clean, but at this price point, nothing fancy.
Would you rent at this location based strictly on the above?
Would appreciate any and all input. For the moderators, please delete if not allowed. I have the math worked out on the occupancy I would need to make this viable.
Thanks all.
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Posts: 1828
| Definitely. |
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Posts: 525
| Sounds like a pretty good deal to me. |
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Posts: 5
| definitely on the water there is limited landing access at the angle and putting a boat in and out every day would be a mess |
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Posts: 32886
Location: Rhinelander, Wisconsin | I'd consider renting that property. |
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Posts: 1638
Location: Minnesota | Sounds like a good deal will it be ready next summer |
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Posts: 483
Location: NE PA | I'd be interested in the place next summer if on the water
Edited by lennyg3 7/21/2016 11:43 AM
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Posts: 8781
| Stayed in some holes over the years. One was so bad I almost slept in my truck. Never cared much because I was there for the fishing and a bed to crash on. These days? Give me a place that looks like someone actually cares about it. I want a bathroom with both hot and cold water, a nice shower, and not having to consider throwing out my socks if I walk through the place without shoes. I want a comfortable bed that doesn't squeak every time you move and a mattress that hasn't been around since Disco. I want a refrigerator that works and is actually clean enough where I don't have to consider washing it before I put my beer in there.
I don't need the Ritz Carlton or chocolates on the pillow case, but I'll pay more for a place if I don't have to wonder if sleeping outside on the ground might be cleaner. |
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Posts: 1
| Here's my thoughts on this. Stay at a resort. The reason they charge what they have to is due to their overhead expenses. You want to rent properties? Try running a resort and not just buying a place and burning the resorts because you can skate by without having to follow the same rules. It's tough enough nowadays to run a resort, let alone all these private home rentals who can charge pennies knocking them down. Do what you will, just my 2 pennies. |
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Posts: 1516
| Depends on what you have for bunks. If its bunk beds count me out. Two single beds per bedroom ok. Next is toilets you get 8 to 10 guys in a cabin probably needs two toilets. Kitchen needs to be fully stocked with dishes and cook wear also size of fridge size needs to be large enough. 8 to 10 guys means 4 or 5 boats so do you have enough dock space?
Good luck |
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Posts: 32886
Location: Rhinelander, Wisconsin | Jbox - 7/21/2016 12:33 PM
Here's my thoughts on this. Stay at a resort. The reason they charge what they have to is due to their overhead expenses. You want to rent properties? Try running a resort and not just buying a place and burning the resorts because you can skate by without having to follow the same rules. It's tough enough nowadays to run a resort, let alone all these private home rentals who can charge pennies knocking them down. Do what you will, just my 2 pennies.
Talk us into staying at your resort. That's the key here...location, amenities, services, guides, fishing help, bait, tackle, meals and more. There's definite advantages in staying at a camp or resort, especially if there's an issue with something in the living quarters or facility, not to mention the fishing spots help usually offered and safe haven for my boat.
Hotels and motels also get a share of any lodging opportunities, and some offer weekly rates for that reason.
The reality is that rentals are out there, and will compete on a low level with resorts and camps, and a higher level with motels. I'd sure ask about the insurance coverage the renter carries before staying in one, and make sure the property is well managed and safe docking is provided. If not, then the place isn't even an option. |
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Posts: 153
| I am very familiar with the Angle and have been there for 28 years.
Good luck finding property on the mainland at the Angle. There is not that much available. I know of one place across from Youngs Bay that is for sale. Call Greg Hennum at Reed Realty. One of the Marvin's has been quick lately to buy cabins and turn them into rentals.
If you plan to have a rental property some of the local resorts/marinas may not let your guests moor there boats. You would be competing against them.
Also, better call the Lake of the Woods county on zoning. They can either to be easy to deal with or a pain. A friend is starting a campground up there and he has been having a little difficulty. If the cabin becomes commercial they may want the septic system size increased or changed to a mound system. Having just had one installed last year they cost a good chunk of cash. Better check the well situation, commercial wells have to be checked by a state lab every year. If you need a new well that can cost between $10 to $25K depending if it needs to be fracked. And good luck getting a well driller to go to the Angle. I called 38 drillers in Northern Mn last year to drill mine, and none would come. I found Sam's Well Drilling in Randoplh WI and they came. Ended up drilling 21 wells. They are coming in August to do a few more, but don't want to come back.
Who is going to clean the cabin or care take if you are not around. That will be another challenge.
Edited by Dan Klis 7/21/2016 1:18 PM
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Rental Property