Reply to Do you think a vacation home is a good investment?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It's a foolery for the rich.  Those with unlimited time they can spend in different places (not your worker-bee type tethered to a specific location due to J.O.B. or kid's schools).  Those with enough NW that they do not need to worry about making rental income to break even.  Those with funds to pay the locals to maintain their home when they are away and prepare it for them and maintain it while they are vacationing there.

Those here who claim to have made millions or hundreds of thousands off their vaca homes were already loaded to start with, bought already expensive homes in areas of high demand, and didn't rely on these homes making income or appreciating to keep them.  Or this is just BS.

[/quote]

Water is wet.  In real estate, you have to spend money to make money.

RE investing is not for those without cash.  [/quote]

But the point of this thread a lot of times they don't make much money--or don't make as much money as comparable investments of cash after expenses in a basic stock index.  [/quote]

And another point here if OP is asking about vacation home as investment she isn't likely swimming in cash to afford to risk it or to make a bad move. People who are experienced RE investors doing this as a business would not be starting these threads. [b]Those who have tons of cash would not be agonizing whether their vacation home will appreciate or pay for itself with rental income. [/b][/quote]

People who have “tons of cash” didn’t get it by not caring about appreciation.

The idea that people with a lot of money just waste it and don’t care have clearly never been around people with a lot of money.  They’re some of the most tight fisted around.[/quote]

Doesn't mean that they don't buy luxury purchases like vacation homes without worrying about appreciation.[/quote]

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