How do you feel about someone buying a vacation home, then renting it out when they’re not there?

Dear Dave,

How do you consciousness astir personification buying a picnic home, past renting it retired erstwhile they’re not there?

Randall

Dear Randall,

As agelong arsenic you’re debt-free and buying pinch cash, I’m cool pinch it. A picnic location is simply a really bully “extra” arsenic you commencement building wealth. It’s still fundamentally a very large, very costly toy. Still, it could go thing of a money shaper for you if you play your cards right.

But here’s different broadside to picnic location rentals that astir folks don’t consider. You mightiness make immoderate money, but location will almost ever beryllium respective weeks during a twelvemonth erstwhile it sits location empty. Chances are you won’t get rich | renting it out, but if you’re talking astir thing that’s much of a scheme to offset nan yearly costs of your toy, I don’t deliberation you’ll beryllium disappointed.

Be fresh to woody pinch tons of spills connected nan carpet and harm from your guests, on pinch wide attraction and repairs. There’s ever thing that needs attraction erstwhile you ain a property. But if you tin grip each that financially and emotionally, I deliberation you’ll beryllium fine.

Best of luck, Randall!

–Dave