All Forum Posts by: David N.

I'm in discussions to buy a second home/investment property in Vermont. My lender just called me quite flustered to say that he has learned that no one is doing the traditional 10% down loan for second homes, which is what I was going to use. Is this true? Does anyone have different information?

Thanks, David

Also - @Cliff H. I'm wondering if you would say exactly the same thing about the Bershires? It seems like there is a bit more going on there in the summer with whitewater outfitters, art festivals and more of a mountain biking community.

Fair enough - my priorities are tax savings (expense offset) and appreciation. However, unlike some I do need the place to break even. It sounds like you think even that might be ambitious. I'm wondering if luxury properties are the way to go because a) better tax savings; and b) more likely to rent for $$$ during ski season, or at least that's what seems to be the case. I would have thought it would be hard to rent places for $2000/night but those places always seem to be rented.

@Cliff H. thanks for the notes a couple months ago. Sounds like you are saying stay away from VT.

 Yes. My priority is seasonality.

The situation in VT with regulations is just terrible right now. It seems every town I look at either has recently passed some egregious or is considering it. Most recently, the town I was looking at passed an outright ban and is considering permanently requiring that any new owners wait 12 months before implementing an STR.

 Monique - Thanks so much. Would you mind sharing your listing so I can see what you've done? I'm not looking in Winhall and I've given up on Wilmington because of the uncertainty about the rules and regs. I'm currently looking a little further north. Thanks for the link!  David

 Bob - This is the first I'm hearing of non-homestead taxes. I googled it and didn't find a great answer. Can you explain?

Bob - My goal is long term buy and hold primarily as an investment but I'd like to use it 2-4 times a year for probably a total of about 20-28 days a year so less than 10% of available time. I'm looking to cover my mortgage plus about $1000/month cushion. I'm seeing CoC returns around 20%.