How a Second Home Can Be Your Best Investment: New, Tax-Free Methods for Using a Vacation Home for Recreation, Retirement . . . and Investment - Softcover

Kelly, Tom; Tuccillo, John A.

Softcover

ISBN 10: 0071429700 ISBN 13: 9780071429702

Publisher: McGraw-Hill, 2004

Synopsis

Strategies for lifelong, tax-free second home ownership

This book explains how to invest profitably in a vacation or future retirement home. Featuring success stories from second home buyers and often-overlooked financing options, How a Second Home Can Be Your Best Investment provides dozens of strategies and proven how-to avenues for finding the perfect home that will eventually pay for itself. Real estate experts Tom Kelly and John Tuccillo show readers how to save thousands through exchanges and exemptions and include valuable Web resources for both second home buyers and real estate investors. Readers will discover how to:

• Choose a second home and location with maximum appreciation potential
• Use a vacation home as a cash cow rental
• Subdivide a property
• Minimize the hassle factor of an investment --while maximizing rental income

About this title

From the Back Cover:

Invest in your future with the second home of your dreams

If you've thought of owning a second home--as a vacation property, a place to retire, or just a smart investment--what are you waiting for? If you can own one home, you can own two! How a Second Home Can Be Your Best Investment offers commonsense guidance and case studies that show ordinary homeowners how to find a second home, finance it, and use it to build long-term wealth.

In this practical, straightforward guide, real estate experts Tom Kelly and John Tuccillo show you how to use the equity in your current home as a down payment on a second home--and how to get other people to pay the mortgage! With a little patience, you'll own a second home that you can live in, sell tax-free, or use as a source of lifelong cash flow. Packed with useful resources, proven strategies, and simple, unbeatable real estate wisdom, you'll have all the tools you need to:

• Calculate what you can afford
• Choose a community
• Find the perfect property
• Get the best financing
• Understand and profit from tax laws
• Manage your second home as a rental, and
• Live richly off your investment!

About the Author:

Tom Kelly (Rolling Bay, WA) writes a nationally syndicated real estate column and is a former real estate editor for the Seattle Times.

John Tuccillo (Arlington, VA) was previously chief economist for the National Association of Realtors and gives more than 50 public speeches a year on real estate topics.

About this edition

• Publisher: McGraw-Hill
• Publication date: 2004
• ISBN 10: 0071429700
• ISBN 13: 9780071429702
• Binding: Paperback
• Number of pages: 250