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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Who watches the property when you’re not in it most of the time? If a pipe burst or the water heater goes or it floods, how would you know? What if there’s a fire? How do you manage the huge risks of not living in a home FT?

Also two homes = twice the liability for thinks like HVAC, roof, plumbing, wiring, landscaping/gardening, pest control. And double the insurance. How is this cost effective?[/quote]

It's not.  I have two duplexes with significant cash flow on paper, but I've dealt with almost all of the hazards you listed: broken pipes, collapsed roofs, rodent infestations, and replacing HVACs.  I am holding onto them and passing them on to my kids because they are in a great location, but it's a lot of work and big expenses.  I keep $100k in an MM account for the LLC that owns the rentals to deal with problems when they inevitably come up.  I haven't hired a property manager yet becasue I have a list of service providers and a main handyman to call, and I can handle listings, although I probably will hire one within the next 5 years becasue the money saved isn't really worth it anymore.  I'm talking about rentals, not a vacation home, but the same premise applies.  You have to be prepared for the liabilities.  This is why we don't own vacation homes.  We don't need anything else to take care of.  [/quote]

It’s interesting how people who own income properties tend to be less than enthusiastic about vacation homeownership, while those who have vacation homes, especially for exclusive family use (which is entirely expense only) tend to have nothing but positive things to say..  Who is lying?[/quote]

Landlord business model is parasitic by their very nature. Of course they’re lying, it comes as naturally as breathing. They all seek to own more and rent out to saps. Own nothing and be happy = investor landlord class owns everything and gets filthy rich passively. Note how landlords all whine and complain but never actually sell off all of their RE.[/quote]

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