Why Buying Property In These Vacation Destinations Could Be A Great Investment

Real estate has always been a source of wealth for Americans. However, most Americans don't get hurt outside of their home when it comes to real estate investing. Owning rental properties in an active market can result in long-term capital gains and faster cash flow. In many areas, rental income can be much higher than the mortgage on the property. That means you get paid for the property because you appreciate the price. However, to get that investment nirvana, you need to select properties in tropical areas with high rental income. Here's a list of five places that do just that.

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30A, Fla

The term '30A' is unfamiliar in most countries outside the South East, but it is a great rental area with growth potential. "30A" refers to the freeway between Destin and Panama City, Florida. At a time when tourist towns are overcrowded, Santa Rosa, Rosemary Beach, the beach and other small communities bring beauty to a small town while still retaining the industrial strength of the beaches. Amazing and delicious seafood and friendly people. With more visitors looking for "real world" travel experiences, places like 30A are a good place to make big investments.

Dead Lakes California

Mammoth Lakes, California is a small amusement park located 30 minutes southeast of Yosemite National Park. Though Dead Lex is primarily known as California's premier ski resort, it really is a year-round spot. Rental income is high from November through July 4th, but higher in the summer months when exotics flock to town to fish, bike, fish, boat, and mountain bike. Real estate prices have risen sharply, with short-term rentals reaching as high as $450 per night for a single room.

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Pokono, Pennsylvania

Pokémon seems to have it all when it comes to investing in a vacation spot. Located in northeastern Pennsylvania, Pokénos invites you to explore year-round, from water sports and waterfalls to skiing and snowboarding in the summer. Though Pokémon has a timeless appeal and has been a vacation spot for decades, vacation rentals are still readily available. When combined with the annual rental income of many vacation homes in Pokémon exceeding $40,000, the risk of this type of investment is low.

Wyndham, New York

New York State has always been an attractive vacation destination for city dwellers fleeing New York. But in terms of investment potential, the Hampsons and Hudson River Valley will fall victim to their own popularity, with real estate worth hundreds of thousands or millions of dollars more expensive than Wyndham. As well as being popular as a ski resort, Windham is an elegant summer destination with outdoor entertainment at the city's art galleries, pubs and fine restaurants. With a median list price of under $500,000, Windham remains an affordable option for those looking to invest in real estate.

McGahey'sville, Virginia.

McGaheysville, a small town in Virginia, is another beautiful year-round vacation spot. Visitors to the "Radar" complex can enjoy recreational activities in both winter and summer, with the biggest attraction being the Schendoah National Park, which is part of the Apalachian Trail. The average annual income in McGaheysville is $49,000, which means almost all real estate investors make a profit and some real profits. The destination is west of the Mississippi River, and there's still plenty of room for investors to expand.

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This article first appeared on GOBankingRates.com.

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