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Reply to "Second home as an investment property - worth the stretch?"
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[quote=Anonymous]Second home ownership today may not be a good investment IMHO if you have to stretch. It’s great only for people with a lot of cash who do not need to rely on rental income to cover costs. And vacation home ownership is always amazing for people with enough wealth to hire staff to manage their homes (including primary home). For middle class even primary home ownership can often be a burden in terms of maintenance. I would only consider it if you can buy something cheap and make it amazing and market it (you have to be handy/creative/hardworking or resourceful) do extensive research on new up and coming areas that aren’t already too expensive. It’s not a lazy way to own your dream second home for sure. It might be easier for you to focus on maximizing your wealth in other ways, and then buying what you want outright with cash. [/quote]
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