Mauritius 2/2, 1,646-square-foot condo for $593,000.

If you’re just joining us, in part one I explored the thought process second home buyers should go through before making a purchase. Essentially, location matters for multiple reasons, and along with condition of the property, will drive what you can charge for rent. Here in part two, I’ll fill you in on what it takes to be a landlord.

Being a Landlord

I’d never been a landlord before, and back in the pre-internet days, I used a Realtor to rent my property (the same one who sold it to me). What I found was that a Realtor with 30 rental properties can’t really play favorites.  After a first year where I was rented for four months, I ditched the Realtor and took over bookings myself.

It’s a whole lot easier today. Back then, I arranged for pictures, placed the classified ads in the local newspaper and waited for the phone to ring. TIP: Having a cell phone number with the same area code as the property made a difference.

(more…)

Eleven-bedroom $1.75 million Louis XIII chateau outside Paris, your second home?

One thing many one-home homeowners have in common is a desire to have another one. I think it’s like the “how hard could one more be” ethos of parents. I don’t have kids, but I have owned a second home for nearly 20 years and there are things to consider and stories to tell.

Picking the right property is the first stop. If you think location, location, location matters in a primary home, it goes double for a second home. Why?  Because most of us will need to put that home to work generating income when we’re not enjoying its charms. A few bucks profit at sale time wouldn’t go amiss either. Because of this, finding a location that works both for your personal desires but also your financial goals of revenue generation and asset appreciation.

(more…)

Vail Village, Vail Ski Resort (Photo: Michelle Maria)

Four Colorado destinations rank among the top 15 best small towns in the America, according to the latest U.S News and World Report. With our favorite Colorado vacation hubs topping the list, we couldn’t help but take a closer look at what keeps these resort towns booming.

(more…)

null

Photo: Clayton Homes

Suzanne Felber is a curator of things she loves and wants to share.

“Usually, that’s an unusual vintage plate, a quirky chair, or a book that I can’t put down — I need a lot of space to store all of these treasures,” Felber laments. But she may have changed her ways after seeing the stunning Clayton Designer Series Tiny Home that debuted at the Cashiers Historical Society Designer Showcase

“I’ve now fallen madly in love with a tiny home, and one may be in my future,” she said.

Naturally, our first thought was that these tiny homes are perfect for folks who want a getaway — and quick! This well-designed tiny homes line by architect Jeffrey Dungan of Jeffrey Dungan Architects makes vacation home ownership affordable, and with quality materials that will stand the test of time.

Instead of waiting more than a year for a new vacation home to be built, you’ll only have to think in terms of weeks before you can sit out on your cove, mountainside, or river.

Find out all about this game-changing new product over on CandysDirt.com.

VacationHomes_PitchGraphic_v02

Breckenridge, Colorado; Santa Fe, New Mexico, which I have always called a bedroom community of Dallas, South Padre; Galveston and the Gulf Coast of Florida: Alys Beach, Watercolor, Seaside and Rosemary Beach. Panama City Beach was 8.3% of all Dallas originated searches. This according to a report from the folks at Trulia, who checked into which vacation hot spots are becoming more popular for second homes, and “which are being ditched in favor of sandier beaches.”

Interesting that Texas is becoming a popular destination for people in colder climates seeking warm weather, while we are escaping to cooler climes including McCall, Idaho. One of the top ten most popular vaca home spots is Hallettsville, Texas, a rural stretch in Lavaca County between San Antonio and Houston.  (more…)

IMG_3017

The vacation home market is estimated to be at $100 billion worldwide. In New Orleans at NAREE this month, I gathered five top vacation home experts, including Bill Furlong of HomeAway, Jackie Doak of Dart Enterprises Ltd., the developer ofCamana Bay on Grand Cayman Island, Hunter Harman, Broker/Owner of Berkshire Hathaway HomeServices Beach Properties of Florida, Tina Necrason of Montage Hotels & Resorts, and Tyler Niess of Crescent Communities.

Learn from the experts on what is hot in the vacation home market, and see the whole panel discussion from the National Association of Real Estate Editors 50th conference, after the jump!

(more…)