Is a second home considered an investment property?
If not, what makes it not be an investment? by sarelynmarshall226 from Ashland, Oregon. Feb 13th 2014
Lea Snyder (LeaSnyder)
#7 ranked lender in Oregon - 18 contributions
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
Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions
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.
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,852 contributions
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.
Sean Young (SeanYoung)
#1 ranked lender in Colorado - 1,112 contributions
No, but it does depend on where the 2nd home is located in proximity to your primary residence.
Ask our community a question.
Get an answer
Related Questions
