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Reply to "Second home as an investment property - worth the stretch?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]It depends on part on what kind of community/resort this is, and who the normal clientele would be. In this economic climate, I would not buy a place hoping to rent it primarily to the kind of normal, stable, GS15/SES types of live in the DC area. Those folks are not going to be splurging on vacation rentals in the immediate term. [/quote] It’s a ski resort in Colorado. Easy access to Denver. But we are in DC. It would be marketed as a luxury condo and we have the money to make it look upscale. But it’s small, 2 beds 2 baths, just large enough for a couple and their two kids. Or two couples no kids. [/quote] We have exactly this and it’s worked out well. We use it about 60 days a year. I love that the experience is very different in the summer, winter and fall. Our place is about a million and we do not cash flow unfortunately but we use it prime time. If you don’t have kids and don’t need to follow the school calendar you’ll be in a much better place. We rent pretty solidly from Jan to March and June to October, almost fully booked. We use it over xmas and the entire month of July. lt helps with the mortgage. [/quote]
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