Kyras

Acton has done similar. We've been here for 18 years. Paid $212,000 but it's now worth $600,000 or more. Our schools were good until we got a lousy Superintendent. Now I've got my son in private high school and wish my daughter was there too. California is getting ruined. I live about 40 miles north of LA but it's a different world. We have 2 1/2 acres and lots of open space. To us in Acton, living 20 miles in either direction is the pits. It's too hot in the summer but it's a slice of heaven otherwise.

Popeye

[QUOTE]Originally posted by Kyras

Legal Bill

[QUOTE]Originally posted by OhioRacer
I asked the real estate agent who represents the property we bought to send me a financial analysis of buying additional properties there as investments. It showed only a 2% ROI with no mortgage. The reason is simple. If you turn it over to the property management company to manager (i.e. book rentals, clean, repair, etc.) you pay 30-40% to them to manage the property. . Unfortunately, they have a captive audience. Meaning...when someone sees this beachfront resort, they call the 800 number to make reservations. They then book the individual properties. If you tried to do this yourself, how would you keep utilization up? The place would likely sit empty most of the time. (of course, I'm only talking about resort type investment properties here, not 2nd homes per se).