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Vacation properties as investments
Posted on 1/6/13 at 10:02 pm
Posted on 1/6/13 at 10:02 pm
Anyone have experience? I'm thinking about purchasing something around the Orange/Sugar Beach area in Alabama. I've had rental properties before but not as vacation properties. Any advice? What kind of vacancy can I expect?
This post was edited on 1/6/13 at 10:15 pm
5
Posted on 1/7/13 at 1:05 am to jmarto1
Bunch of friends' parents rent vacation properties out. Almost without fail, they all say they buy the property for their own vacation desires and rent it out just to help cover their costs.
All of them say that it wouldn't be a good investment any other way.
Unless you had it during the BP crisis, friends grandma got to claim renters every week for like 6 months and made a killing off that spill
All of them say that it wouldn't be a good investment any other way.
Unless you had it during the BP crisis, friends grandma got to claim renters every week for like 6 months and made a killing off that spill
Posted on 1/7/13 at 7:36 am to jmarto1
quote:
Vacation properties as investments
Terrible unless you can get them for a great price
Posted on 1/7/13 at 8:44 am to jmarto1
If you use the rental property for the greater of 14 days or 10% of th days it is rented to others at a fair rental price, then the property is considered a personal residence and your tax deductions will be limited. This will decrease the benefits of owning such a property.
I have clients with vacation rentals, and most regret ever getting involved. The clients who have had positive experiences have tended to invest in more exclusive destinations such as Hawaii, Lake Tahoe and Jackson Hole.
I have clients with vacation rentals, and most regret ever getting involved. The clients who have had positive experiences have tended to invest in more exclusive destinations such as Hawaii, Lake Tahoe and Jackson Hole.
Posted on 1/7/13 at 11:25 am to jmarto1
(no message)
This post was edited on 4/6/13 at 1:07 pm
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