Premium Only Content

How a vacation home turns into a nightmare
The Wall Street Journal did an article on a tech executive named John Foreman. He built a five bedroom, mountain modern home in Black Mountain, North Carolina which is 20 minutes from Asheville. The property was originally planned to be the primary residence, but his job changed from Atlanta to Utah. So he listed the property on AirBnB for $1,000 a night. Sounds great right? Well no.
Even though he was able to bring in $250,000 a year in revenue in 2022, that only left him with $80,000 in profit after expenses. However, as things break over time, and for tax reasons, this profit might decline over the years.
The issue is running the place. Even if you have a management firm running things, there are still things you might have to get involved in like the home warranty from the builder when things break.
A job change can quickly make your vacation home into a nightmare.
If we look at the house on Zillow. We see it is $3.75 million. I can tell you this house is not worth that much money. There are nicer house in that area for $2 million. Also, I’m not sure this is the location for an almost $4 million house. I’m surprised he is able to rent it two third of the year at $1,000 a night.
Works Cited:
https://www.wsj.com/articles/buying-a-vacation-home-832c8c08?mod=hp_major_pos1#cxrecs_s
https://www.zillow.com/homedetails/6-Oak-Ridge-Trl-Black-Mountain-NC-28711/96323438_zpid/
Tags:
vacation home, buying house, buying a vacation home in florida, vacation rental, buying a second home, vacation homes, vacation rental investing, pros and cons of buying a vacation house, buying vacation house, should i buy a vacation home, buying a vacation home, should you buy a vacation home, owning a vacation home pros and cons, vacation, living in a vacation house, tips to buying a vacation home, buying a vacation condo, buying a vacation rental
-
3:29
The Last Capitalist in Chicago
1 year ago $0.06 earnedAmericans are spending like there is no tomorrow
2092 -
16:51
James Klüg
13 hours agoInside The Philadelphia NO KINGS Protest
1.49K3 -
29:29
The Brett Cooper Show
4 days ago $8.32 earnedLA Is On Fire & Gay Celebrities Turn Straight For Pride Month | Episode 39
37.3K35 -
2:03:19
Side Scrollers Podcast
18 hours agoThis Dude Is The Problem, Disney Predator Plays VICTIM, Nexus Mods SOLD | Side Scrollers LIVE
2.3K3 -
LIVE
Welsh Girl
8 hours ago#TFPCreators 7DTD V2.0 Early Access | Hardcore Duo Live ✨
321 watching -
5:39
PragerU
18 hours agoHow Foreign Aid Keeps Africa Poor | 5-Minute Videos | PragerU
2.28K6 -
4:20:19
The Pascal Show
18 hours ago $1.37 earnedDIDDY TRIAL LIVE! Assistant Brendan Paul 'DR*G MULE' Testifies! Diddy Trial Day 24
4.73K -
20:11
The Chris Cuomo Project
23 hours agoWhy Gary Vee Says Parents Are RUINING Their Kids
4701 -
LIVE
Lofi Girl
2 years agolofi hip hop radio 📚 - beats to relax/study to
1,526 watching -
27:10
Sadix2112
14 days agoThe Legend Of Zelda: Link's Awakening DX Episode 16 Dream Warrior
6.92K1