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Depends on other factors. On paper, yes. In reality, no. If you pay cash, you still have taxes and insurance adn upkeep. Where is the money comeing for that? If you have a mortgage, where does the money come from to pay the bills? What happens if there is a large bill for repairs? Who has the money and where does it come from? Even buying a place and renting it out does not garantee a profit. It depends on income and expense ratios and making sure the rents covers the expenses. It's all a crap shoot.
Anyone have experiences at this? Seems like if you buy inexpensively, or for cash, and rent it out about half the year you can make money. Am I right?
Depends on the location and size, some rental homes in beach resorts fetch 2 grand a week. Do the math, but like Shane said you've got taxes and up keep, insurance on rentals is probably higher too.
We had a condo on the beach at St. Simons Island in Georgia. We got it for a steal and thought it would be a great investment being in their rental program. It was a disaster. Fees, assessments, ruined furniture and carpets by "guests" sloopy housekeeping and on and on. It was too far a drive from our Atlanta home to frequently check on and our reliance on management was a mistake. I swore I would never do it again. If you can't afford to have a vacation home purely for your own use I would not expect to use said house as a income producing vehicle. Just too many headaches.
When we decided to sell it was in the middle of the recession and we didn't make out as well as we thought we would.
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