If not, what makes it not be an investment? by sarelynmarshall226 from Ashland, Oregon. Feb 13th 2014
No, a second home isnt considered an investment property. A second home is just that...a 2nd home that is at least 50 miles from your primary residence and typically in a desirable area - usually used for vacation or work if you work far away from your primary residence. Second homes are not rented. An investment home is one that is rented or you are renovating and flipping to sell. You typically don't occupy an investment home. I am happy to share more with you. Feel free to call anytime! Lea Snyder - 503-577-3895 Senior Mortgage Banker - MLO39346 - NMLS3236LeaHomeLoans.com
No, it is just that, a second home. It has to make sense to be a second home. like a shore house or cabin in the woods, on a lake or seasonal community.
Lot's of people have two homes... So it depends on the use. If you live here in cold Minnesota and have a snow bird home to go to in Arizona - that is a second home. On the other hand, if you never live in the other home and rent it out, that is an investment.
No, but it does depend on where the 2nd home is located in proximity to your primary residence.
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