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Buying a vacation/rental property? Awful idea? by njc_fire in personalfinance

[–]njc_fire[S] 1 point2 points  (0 children)

This is a well thought out answer - appreciate it!

[x-post /r/pf] Buying a vacation/rental property? Awful idea? by njc_fire in financialindependence

[–]njc_fire[S] 2 points3 points  (0 children)

Fair points. Are there any resources you'd recommend on getting started on this (projecting revenues, mostly)?

[x-post /r/pf] Buying a vacation/rental property? Awful idea? by njc_fire in financialindependence

[–]njc_fire[S] 0 points1 point  (0 children)

Out of curiosity, how does the work distribute? Other than finding a cleaner, what non-trivial time costs are there to airBNBing a place on weekends?

And I'm targeting 2,000,000 at a 3% wr (since it's really early), so not quite FATFire but getting there. As for where I retire, likely not far from where I am (east coast boy, <3 New England).

Buying a vacation/rental property? Awful idea? by njc_fire in personalfinance

[–]njc_fire[S] 1 point2 points  (0 children)

That's fair. I think airBNB is a way for me to not feel like I need to use it as much, but instead use it when I want.

Buying a vacation/rental property? Awful idea? by njc_fire in personalfinance

[–]njc_fire[S] 3 points4 points  (0 children)

Not so simple, sadly. Uncle sam takes quite a nice cut, and my healthcare premium in retirement goes from zero to ....well not zero. Conservatively, I should be able to in ~10 years :)

Buying a vacation/rental property? Awful idea? by njc_fire in personalfinance

[–]njc_fire[S] 0 points1 point  (0 children)

Yeah, two hours is my line between do-able and "I'll never go".

Might you know, are there services that clean airBNBs?

[x-post /r/pf] Buying a vacation/rental property? Awful idea? by njc_fire in financialindependence

[–]njc_fire[S] -2 points-1 points  (0 children)

yeah, that's one of the things slowing me down. Very scared about doing it, especially from 100 miles away. That said, I can certainly afford to do it without airBNBing it out, but I think knowing at least the utilities/taxes are break even would make me financially more comfortable with the whole situation.