Owning a vacation home is a great accomplishment for many – whether they plan to use the properties as retirement homes, frequent personal getaways or vacation rental properties. A second mortgage for a vacation home is, of course, a debt each borrower should take on with caution to avoid excess financial risk. Vacation home buyers who invest in properties as rentals to earn passive income should factor in the high costs of running a vacation rental property.
John Howe, Bag end “Ho! Ho! Ho! To the bottle I go To heal my heart and drown my woe Rain may fall, and wind may blow And many miles be still to go But under a tall tree will I lie And let the clouds go sailing by” ― J.R.R. Tolkien
This is a really good idea. Id have to change a couple things though. 1. 1000 emergency 2. Pay off debts 3. 3-6 months in savings. 4. Invest 15% into retirement 5. Buy a house/investment property and pay it off 6. Build wealth and give. -Chris
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