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Reply to "Second home as an investment property - worth the stretch?"
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[quote=Anonymous]I’d also keep in mind that finding folks to for repairs in a resort area can be difficult and if not timely fixed, can destroy your reputation as a host (think broken HVAC on the day a vacationing family arrives). I have friends who stopped renting out their condo in Bethany after having one too many vacationers run the AC at full blast in the low 60s with the doors and windows open. The unit was promptly destroyed. Vacationers do not treat your property like renters who do not treat your property like owners. Finally, if it’s an older condo, getting insurance or being hit with a huge deferred maintenance assessment is a real risk these days. Managing all of this remotely and profitably can be quite challenging. FWIW, we do own an investment property and would’ve done better just putting the money in the stock market. It’s not worth the hassle or liability. [/quote]
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