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  1. #26
    Join Date
    Dec 2011
    Posts
    4,780
    Goonies never say die.
    Quote Originally Posted by XXX-er View Post
    the situation strikes me as WAY too much drama at this point

  2. #27
    Join Date
    Mar 2018
    Location
    Lake Wallenpaupack, PA
    Posts
    617
    Quote Originally Posted by Benny Profane View Post
    Hey, as long as she cleans up afterwards. Won't be too hard, right? So to speak. Besides, imagine the shit that the actual renters are doing in your vacation home. Right?
    Very True.....I just thought it was funny that someone would start a company just to have “safe” places to cheat on their husband......lol

    As property owners....would you want the cleaning lady (who has keys).....to be using your house as her personal “safe” house for parties and sex fests?

    Disclosure....she’s not good looking...lol

  3. #28
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    35,723
    I just think that it's best not to think of what's happening in your properties if you go this route. But, that's why I'm not a landlord. People, ugh.

    Sent from my Pixel 2 using TGR Forums mobile app

    Let's do some livin'
    After, we die

  4. #29
    Join Date
    Jan 2008
    Location
    Paper St. Soap Co.
    Posts
    2,275
    Don't forget tsunami insurance...are you getting a good price (below market) on the place? Every market I have looked at seems like a bad time to buy as investment, but know nothing about OR.

  5. #30
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    11,647
    My neighbor owns a place in the Village at Mammoth. Management company takes 50%, but he said it is rented out about 90% of the time due to its location, so he doesn't care. Being a frugal bastard, I am not sure I could justify that, but management fees in that town are steep. Vacation property management fees are retarded IMO. Get a few good cleaners and a handyman lined up and Air B&B it.
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  6. #31
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    35,723
    Quote Originally Posted by liv2ski View Post
    My neighbor owns a place in the Village at Mammoth. Management company takes 50%, but he said it is rented out about 90% of the time due to its location, so he doesn't care. Being a frugal bastard, I am not sure I could justify that, but management fees in that town are steep. Vacation property management fees are retarded IMO. Get a few good cleaners and a handyman lined up and Air B&B it.
    People don't want the hassle. They just want to meet with their advisor every year or whatever, the advisor who helped talk them into this, and hear that they made decent money on the bottom line.

    My favorite story is from a lift ride at Big Sky, and I used some new MacMansion being built in an awesome spot to start a conversation about empty RE that rich people build on ski hills. The young man I was riding with told me a story. He had a buddy who did grunt work for a property management company in Vail. One day he had to get into a house, and needed the code. He winds up calling the owner, who, without covering the phone, shouts, "Honey, do we still own that house in Vail?".

    Let's do some livin'
    After, we die

  7. #32
    Join Date
    Dec 2003
    Location
    Seattle
    Posts
    29,990
    He must have been a really fast talker?
    Quote Originally Posted by Downbound Train View Post
    And there will come a day when our ancestors look back...........

  8. #33
    Join Date
    Jun 2006
    Posts
    3,282
    Quote Originally Posted by Buster Highmen View Post
    Go down there, go to the local watering hole, get drunk, make friends, get the pink thing to spankpickle.

    Voila: management company!
    Just quoting for the awesome advice.


    Not to shoot down your dreams but if this is who I think it is, you have to ask why?
    If you are still dealing with the timeshare, I can't see why you would want to get into another situation like this, other than tax write offs.

    I have been a slum lord before and long term rental on multi-unit property is the way to go if that is what you are after, minimal headache if you chose renters wisely. I have a friend that bought a house in Big Bear CA for taking the kids skiing and short term rental with management in an area that is highly sought after in winter and summer, mountains near big city, and it was a an albatross on all partners. The allure for them was a place the kids knew and was familiar, memories etc. Didn't pan out out that way because of repairs (Oregon Coast is not forgiving either), broken stuff (buy sturdy beds and chairs because kids will by jumping on them and by kids I mean 180 lb teenagers), theft (do you really want to track someone down for a frying pan), and constant calls that stress you out more than you need during an already busy day. It's basically not your house when you go short term and if you can't get down to it often and care for it, it's a mess. If you plan on spending 25% of your time there, then cool it's still your house, kind of...

    So my advice is

    If you need tax breaks, multi-unit long term is way to go and can be profitable if you find the area where the hippies just moved. Alberta Street Portland in 1999.

    If you need a place for the kids (do you have them?) to make memories, pick a place closer to home that you will use often and can manage/maintain easy and so AirBnB and make sure it rents well year round.

    If you want a place to get away...go rent a bunch of places all over the world, pick your favorite places, make friends with people and go back year after year

    Either it's an investment or it's a vacation. Decide which, but it's rare you can make both work on properties
    Education must be the answer, we've tried ignorance and it doesn't work!

  9. #34
    Join Date
    Aug 2004
    Location
    New Haven Line heading north
    Posts
    2,675
    Are there really any “resort” areas left where buying a home for investment purposes makes any sense?

    A friend and I have been looking for a awhile on the east coast and the numbers are so far in the red it’s laughable.
    Charlie, here comes the deuce. And when you speak of me, speak well.

  10. #35
    Join Date
    Apr 2016
    Posts
    557
    You had asked about what I can cover from rentals. I have an odd setup that I'm happy to go into more detail on via PM, but broadly, condo income has covered 60% to 99% of my expenses (that's all money coming in vs. all money going out). Prime season weekends and holiday weeks are the big difference-makers.

  11. #36
    Join Date
    Dec 2003
    Location
    Seattle
    Posts
    29,990
    Quote Originally Posted by Art Shirk View Post
    It's just too far and I may go a couple times a summer
    Unless it's a spectacular deal then why?

    I would have thought Airbnbing an investment property in Seattle would make $ in rent and value compared to the coast be easier to manage.

    Prop values in our GW neighborhood took a long time to come back up after the crash.. a function of there being lots of second homes... a beach area might be subject to similar market pressure?
    Quote Originally Posted by Downbound Train View Post
    And there will come a day when our ancestors look back...........

  12. #37
    Join Date
    Oct 2005
    Posts
    10,551
    All good questions on the basis of my interest. I am not looking for an investment opportunity necessarily and know there are better ways to spend money on RE, and while I know I cant get down there a ton now, I'm hoping more so as the kids get older and I figure out how to take on less. The main driver here is that it is a really good deal based on a trusted relationship, the place has really good bones (my contractor has already inspected the property), I probably won't lose money on it because of how good a deal it is, and it will always be there in case I can make better use of it.

    That's why I really want to be hands off as much as possible. I just want to lock in a good deal, offset some of the overhead if possible and have the place at our disposal when we want it. My wife grew up going to the coast as a kid, loves the area and we already go once a year and rent a place for 250+ a night for a week.

  13. #38
    Join Date
    Apr 2004
    Location
    cordova,AK
    Posts
    2,618
    is the place waterfront?
    off your knees Louie

  14. #39
    Join Date
    Oct 2005
    Posts
    10,551
    4 houses off the beach, beach view, next to a park, great beach for kids, golf within walking distance

  15. #40
    Join Date
    Apr 2004
    Location
    cordova,AK
    Posts
    2,618
    waterfront I would say go as it seems to always hold value. I would agree with what PNW and SG said. You can continue to rent for a week a year and not have financial concerns. I rent my place for the entire season I am not there. Works well for me and management fees are minimal. I was just on the Oregon coast. How long is the rental season there.?
    Last edited by BFD; 05-03-2019 at 06:40 PM.
    off your knees Louie

  16. #41
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    35,723
    Quote Originally Posted by Rip'nStick View Post
    Just quoting for the awesome advice.


    Not to shoot down your dreams but if this is who I think it is, you have to ask why?
    If you are still dealing with the timeshare, I can't see why you would want to get into another situation like this, other than tax write offs.

    I have been a slum lord before and long term rental on multi-unit property is the way to go if that is what you are after, minimal headache if you chose renters wisely. I have a friend that bought a house in Big Bear CA for taking the kids skiing and short term rental with management in an area that is highly sought after in winter and summer, mountains near big city, and it was a an albatross on all partners. The allure for them was a place the kids knew and was familiar, memories etc. Didn't pan out out that way because of repairs (Oregon Coast is not forgiving either), broken stuff (buy sturdy beds and chairs because kids will by jumping on them and by kids I mean 180 lb teenagers), theft (do you really want to track someone down for a frying pan), and constant calls that stress you out more than you need during an already busy day. It's basically not your house when you go short term and if you can't get down to it often and care for it, it's a mess. If you plan on spending 25% of your time there, then cool it's still your house, kind of...

    So my advice is

    If you need tax breaks, multi-unit long term is way to go and can be profitable if you find the area where the hippies just moved. Alberta Street Portland in 1999.

    If you need a place for the kids (do you have them?) to make memories, pick a place closer to home that you will use often and can manage/maintain easy and so AirBnB and make sure it rents well year round.

    If you want a place to get away...go rent a bunch of places all over the world, pick your favorite places, make friends with people and go back year after year

    Either it's an investment or it's a vacation. Decide which, but it's rare you can make both work on properties
    I like this.

    Let's do some livin'
    After, we die

  17. #42
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    35,723
    Quote Originally Posted by Stu Gotz View Post
    Are there really any “resort” areas left where buying a home for investment purposes makes any sense?

    A friend and I have been looking for a awhile on the east coast and the numbers are so far in the red it’s laughable.
    Really? East coast? There's a ton of cheap condos around Killington. Friend if mine rented a pretty new and solid 1 bedroom at the base of Pico, (I know) that was on the market for 55 grand. He spent 7 grand for the season. Same friend just bought a two bedroom near there for 155,000. Whole lot cheaper than the west. Stay away from Stowe, and you're probably good.

    Let's do some livin'
    After, we die

  18. #43
    Join Date
    Mar 2008
    Location
    northern BC
    Posts
    17,794
    you can't get anymore hands off than not buying it

    just rent as you go

    wherever in the world you go
    Lee Lau - xxx-er is the laziest Asian canuck I know

  19. #44
    Join Date
    Oct 2007
    Posts
    8,223
    After staying in a timeshare in MX owned by my inlaws for the last week, I gotta say, timeshares ain't nearly as bad as people say they are. Place is pretty badass, costs are damn cheap. Honestly, I can't really see a reason not to buy a timeshare at this point. As far as rental properties, I own one that we use sometimes and rent out sometimes. It can be a PITA, but is usually pretty easy.

  20. #45
    Join Date
    Jul 2014
    Location
    TennesseeJed
    Posts
    9,473
    Quote Originally Posted by Stu Gotz View Post
    Are there really any “resort” areas left where buying a home for investment purposes makes any sense?

    A friend and I have been looking for a awhile on the east coast and the numbers are so far in the red it’s laughable.
    I got one for sale in Venice, FL.
    "I don't pretend to have all the answers, and I think there's something to be said for that" -One For The Road

    Brain dead and made of money.

  21. #46
    Join Date
    Mar 2006
    Posts
    14,770
    Quote Originally Posted by shredgnar View Post
    Honestly, I can't really see a reason not to buy a timeshare at this point.
    It's a club membership that you might not be able to quit even if you can't sell. Some have 50 year membership agreements.

  22. #47
    Join Date
    Sep 2001
    Location
    Before
    Posts
    20,456
    Quote Originally Posted by Art Shirk View Post
    All good questions on the basis of my interest. I am not looking for an investment opportunity necessarily and know there are better ways to spend money on RE, and while I know I cant get down there a ton now, I'm hoping more so as the kids get older and I figure out how to take on less. The main driver here is that it is a really good deal based on a trusted relationship, the place has really good bones (my contractor has already inspected the property), I probably won't lose money on it because of how good a deal it is, and it will always be there in case I can make better use of it.

    That's why I really want to be hands off as much as possible. I just want to lock in a good deal, offset some of the overhead if possible and have the place at our disposal when we want it. My wife grew up going to the coast as a kid, loves the area and we already go once a year and rent a place for 250+ a night for a week.
    Have you considered setting up an independent apartment within the house ? Rent that out to a local to provide reasonable housing instead of vacation housing? Lots of recreational areas have a lack of affordable housing for locals. That's what we're doing with a place we own because the primary strategy is to have a place for us to go and not deal with vacation housing issues.
    Merde De Glace On the Freak When Ski
    >>>200 cm Black Bamboo Sidewalled DPS Lotus 120 : Best Skis Ever <<<

  23. #48
    Join Date
    Oct 2007
    Posts
    8,223
    Quote Originally Posted by 4matic View Post
    It's a club membership that you might not be able to quit even if you can't sell. Some have 50 year membership agreements.
    Well that would be something I would probably not sign up for even if they did throw in a free tequila tasting.

  24. #49
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    11,647
    Quote Originally Posted by shredgnar View Post
    After staying in a timeshare in MX owned by my inlaws for the last week, I gotta say, timeshares ain't nearly as bad as people say they are. Place is pretty badass, costs are damn cheap. Honestly, I can't really see a reason not to buy a timeshare at this point. As far as rental properties, I own one that we use sometimes and rent out sometimes. It can be a PITA, but is usually pretty easy.
    I would never recommend a timeshare to anyone. It sounds good at the time, but after using it a few years, your over it and likely can't sell it, so then you have to try and rent it out to cover your nut. Some years you rent it out, others you eat the annual dues because you didn't go. Want to buy mine for $1? It is next to Heavenly. 3bdrm & 2 bath.
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  25. #50
    Join Date
    Nov 2012
    Location
    Vancouver, BC
    Posts
    855
    Any short term rental folks on here use those WIFI door locks that you can program on your phone and not have to be onsite?

    I've spent a fair bit of time researching and some of the reviews are pretty shitty, poor battery life, dropped wifi, easy to break etc.

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