Comments on: The IRS No Longer Likes Our Vacation Home http://toughmoneylove.com/2008/09/07/the-irs-no-longer-likes-our-vacation-home/ The Hard Truth about Money and Personal Finance Mon, 15 Mar 2010 15:37:50 +0000 http://wordpress.org/?v=2.9 hourly 1 By: Mr. ToughMoneyLove http://toughmoneylove.com/2008/09/07/the-irs-no-longer-likes-our-vacation-home/comment-page-1/#comment-334 Mr. ToughMoneyLove Mon, 08 Sep 2008 03:32:51 +0000 http://toughmoneylove.com/?p=89#comment-334 mbhunter - Well the IRS is not showing me the love like before so to be accurate, they like my money more than my vacation home. Thanks for visiting. mbhunter – Well the IRS is not showing me the love like before so to be accurate, they like my money more than my vacation home. Thanks for visiting.

]]> By: mbhunter http://toughmoneylove.com/2008/09/07/the-irs-no-longer-likes-our-vacation-home/comment-page-1/#comment-332 mbhunter Mon, 08 Sep 2008 01:49:36 +0000 http://toughmoneylove.com/?p=89#comment-332 The IRS likes your vacation home just fine. If you didn't own it, they couldn't tax you on it. ;) The IRS likes your vacation home just fine. If you didn’t own it, they couldn’t tax you on it. ;)

]]> By: Mr. ToughMoneyLove http://toughmoneylove.com/2008/09/07/the-irs-no-longer-likes-our-vacation-home/comment-page-1/#comment-324 Mr. ToughMoneyLove Sun, 07 Sep 2008 20:37:36 +0000 http://toughmoneylove.com/?p=89#comment-324 I think owning rental property in a college town is a very good strategy for the reason that the demand is stable. On the other hand, its not exactly an undiscovered market so it would be hard to find a bargain except for something that needs a lot of rehab. Chapel Hill is particularly expensive because it is such a poptular place to live even for non-students. I would also be concerned about being an absentee landlord for a college rental. You would have to hire a management company which really squeezes your margins. I think owning rental property in a college town is a very good strategy for the reason that the demand is stable. On the other hand, its not exactly an undiscovered market so it would be hard to find a bargain except for something that needs a lot of rehab. Chapel Hill is particularly expensive because it is such a poptular place to live even for non-students. I would also be concerned about being an absentee landlord for a college rental. You would have to hire a management company which really squeezes your margins.

]]> By: Matt @ Steadfast Finances http://toughmoneylove.com/2008/09/07/the-irs-no-longer-likes-our-vacation-home/comment-page-1/#comment-322 Matt @ Steadfast Finances Sun, 07 Sep 2008 18:07:52 +0000 http://toughmoneylove.com/?p=89#comment-322 I've owned a few rentals in my day, and looking to get back into the market lately. I like the "3 chess moves ahead" advice you gave here and will consider it. I wrote a post a couple days ago about buying rentals in a college town, but for a select crowd of students (med students, law students, etc.). I was thinking around UNC-Chapel Hill or Va Tech since they're close by. Got any advice here? I’ve owned a few rentals in my day, and looking to get back into the market lately. I like the “3 chess moves ahead” advice you gave here and will consider it.

I wrote a post a couple days ago about buying rentals in a college town, but for a select crowd of students (med students, law students, etc.). I was thinking around UNC-Chapel Hill or Va Tech since they’re close by. Got any advice here?

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