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Everything Paid off... Time to become a landlord?

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  • #16
    Originally posted by TexasHusker View Post
    I own vacation investment home
    In a severe recession, the values might dip up to 25 percent, but that doesn't affect my income
    Are you concerned that a severe recession could affect your income in the form of lower occupancy? If folks are struggling, luxury travel can be one of the first things cut out of the budget. Either that or that you might need to discount your rates to attract guests?
    Steve

    * Despite the high cost of living, it remains very popular.
    * Why should I pay for my daughter's education when she already knows everything?
    * There are no shortcuts to anywhere worth going.

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    • #17
      Originally posted by disneysteve View Post

      Are you concerned that a severe recession could affect your income in the form of lower occupancy? If folks are struggling, luxury travel can be one of the first things cut out of the budget. Either that or that you might need to discount your rates to attract guests?
      What happens is that folks still vacation, but they take cars instead of airplanes. They stay closer to home. So in my case in Gatlinburg TN, in a boom we see a lot of tourists from around the country, although it is mostly midwest, northeast, and southeast. In a recession, our occupancies stay steady, but it is families driving in from Nashville, Cincinnati, Raleigh, and Atlanta, rather than New York and Indianapolis. This is another reason I love the Smoky Mountains for investment property.
      How can you have any pudding if you don't eat your meat?

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