What are you drinking?

[killramos]

I consider myself a very lucky person yes.

[Buster]

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Yes. Not very baller.

Also re beaches. Beaches are public property. Public. Yuck.

I’ll take an inaccessible cliff with an infinity pool with an acre or 2 between you and the neighbours any day.

I do NOT like beaches. Public sure, but they are a pain in the ass. Sand, cars, changing cloths, boredom.

[killramos]

Extremely overrated.

But I guess they are good if you have a hankering to run a hotel out of your multi million dollar property

[ExtraSlow]

Better idea is to rent the property one month at a time and have fewer hassles and lower TCO.

[90_Shelby]

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If you buy a vacation property, and then need to rent it out, then you can't afford a vacation property.

I'd argue this statement. Friends of mine own a few properties in Wailea, very expensive places, they use the properties for a month or two per year among the family and rent them out otherwise. They can very much afford the properties but they also take advantage of renting these ones out due to the demand and rates. ($2800-$5375/night). I had the opportunity to stay at one of the properties several years back for no charge and all I know is that it's well out of my price range if I was paying out of pocket.

With that being said, they have several other vacation properties in Canada and they don't rent those out. Maui is another story when your rental income can be upwards of a million bucks per year, per unit.

[Buster]

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I'd argue this statement. Friends of mine own a few properties in Wailea, very expensive places, they use the properties for a month or two per year among the family and rent them out otherwise. They can very much afford the properties but they also take advantage of renting these ones out due to the demand and rates. ($2800-$5375/night). I had the opportunity to stay at one of the properties several years back for no charge and all I know is that it's well out of my price range if I was paying out of pocket.

With that being said, they have several other vacation properties in Canada and they don't rent those out. Maui is another story when your rental income can be upwards of a million bucks per year, per unit.

You're still sharing.

[89coupe]

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You're still sharing.

You don’t travel I guess, lol.

[Buster]

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You don’t travel I guess, lol.

I travel. But we've got three kids so the juice isn't worth the squeeze a lot of the time. in general I think traveling is over rated.

[89coupe]

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I travel. But we've got three kids so the juice isn't worth the squeeze a lot of the time. in general I think traveling is over rated.

You sound miserable.

[Buster]

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You sound miserable.

Often

[90_Shelby]

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You're still sharing.

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You don’t travel I guess, lol.

I was thinking the same thing. Haha

Maybe that’s why Buster is doing a $250k backyard reno, so he never has to leave his property?

Meanwhile, I’ll continue to share toilets with the rest of the plebs, I know my place.

[Buster]

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I was thinking the same thing. Haha

Maybe that’s why Buster is doing a $250k backyard reno, so he never has to leave his property?

Meanwhile, I’ll continue to share toilets with the rest of the plebs, I know my place.

It's a good point actually. I enjoy my work and I don't mind being at home overall. Do I rarely feel the need to "escape" my life.

[89coupe]

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I was thinking the same thing. Haha

Maybe that’s why Buster is doing a $250k backyard reno, so he never has to leave his property?

Meanwhile, I’ll continue to share toilets with the rest of the plebs, I know my place.

Whatever floats your boat I guess.

From what I have seen, 90_Shelby is living a damn good life.

Pleb life for the win.

[Buster]

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I was thinking the same thing. Haha

Maybe that’s why Buster is doing a $250k backyard reno, so he never has to leave his property?

Meanwhile, I’ll continue to share toilets with the rest of the plebs, I know my place.

I don't mind sharing toilets. I just don't see the distinction between owning a place and renting it to other people and simply renting a place.

[90_Shelby]

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I don't mind sharing toilets. I just don't see the distinction between owning a place and renting it to other people and simply renting a place.

You can make money owning a place and renting it out versus renting a place.

Seems like a pretty clear distinction to me.

You get to enjoy something that is yours, it pays for itself and appreciates over time. You simply need to be wealthy enough to front the cash at the beginning. Seems like a win win overall.

[Buster]

Sounds like a job

[prae]

I'm with Buster on this one. I'd rather have a different hooker every time I step out. I don't need the hassle of owning a vacation rental. That's why I pay for it to be someone like brad's problem

[90_Shelby]

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Sounds like a job

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You sound miserable.

.

[ThePenIsMightier]

I don't pimp my hooker out.

[Strider]

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You can make money owning a place and renting it out versus renting a place.

Seems like a pretty clear distinction to me.

You get to enjoy something that is yours, it pays for itself and appreciates over time. You simply need to be wealthy enough to front the cash at the beginning. Seems like a win win overall.

I'm never going to be rich enough in my wildest dreams to have million dollar Hawaiian vacation properties, but the thought of a condo in BC has crossed my mind.

Ultimately, I'm with Buster on this one. If someone else is going to use/destroy all my shit in my vacation rental property, then I might as well be the one renting and destroying someone else's shit.
Making money and appreciating over time is back to the asset class / investments / leverage debate.