Second Homes

Without a second thought! That was the title in an article today in the New York Times. When I was married we could not go to a vacation place without spending a little time or thought on buying a “little get away” place. It’s easy to get swept up in the moment! That beautiful resort in Maui-we need a place here! The mountain chalet in Aspen-could we get anywhere near positive cash flow by renting it out? And so the game goes. It was reassuring to me to read that I was not the only one who harbored these thoughts. The article tells of one brave soul by the name of Rebecca Kopriva. Leaving Mendocino, Calif, after a short vacation, she drove by a shabby beach house-a steal for $350,000. Everything else was starting at $1 million! She went home and bought it without ever seeing the inside. It’s a typical “Money Pit” story-she spent a ton and went through a lot of grief and she says in the last year she only spent three or four times there-but what the heck that comes out to about $100,000 a visit! I’m not laughing at you Rebecca-I’m laughing with you, at least you made the plunge! I still kick myself for not buying that condo in 1983 in a little town called Edwards, Colorado. You may know it better as the gateway to a ski area called Beaver Creek/Vail. Live and learn 🙂

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