Mauritius 2/2, 1,646 square foot condo $593,000

If you’re just joining us, in part one I explored the thought process second home buyers should go through before making a purchase. Essentially, location matters for multiple reasons and along with condition of the property will drive what you can charge for rent. Here in part two, I’ll fill you in on what it takes to be a landlord.

Being a Landlord

I’d never been a landlord before and back in the pre-internet days, I used a Realtor to rent my property (the same one who sold it to me). What I found was that a Realtor with 30 rental properties can’t really play favorites.  After a first year where I was rented for four months, I ditched the Realtor and took over bookings myself.

It’s a whole lot easier today. Back then, I arranged for pictures, placed the classified ads in the local newspaper and waited for the phone to ring. TIP: Having a cell phone number with the same area code as the property made a difference.

Head over to SecondShelters.com for more.

11-bedroom $1.75 million Louis XIII chateau outside Paris, your second home?

One thing many one-home homeowners have in common is a desire to have another one. I think it’s like the “how hard could one more be” ethos of parents. I don’t have kids, but I have owned a second home for nearly 20 years and there are things to consider and stories to tell.

Picking the right property is the first stop. If you think location, location, location matters in a primary home, it goes double for a second home. Why?  Because most of us will need to put that home to work generating income when we’re not enjoying its charms. A few bucks profit at sale time wouldn’t go amiss either. Because of this, finding a location that works both for your personal desires but also your financial goals of revenue generation and asset appreciation.

Head over to SecondShelters.com for more.