Quote:
Originally Posted by BillJohn
I know some people who bought a house for 1.5 million and then put in another 500K who then advertise the property for rent and that it sleeps 20! Why someone would do that is a mystery to me.
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There are a lot of group investors that do this through an LLC. They buy a waterfront property or multiple properties, rent them out, take a few weeks out of the year for themselves, and hope that it increases in value. At the same time they all get the right off's as a partner of the LLC investments.
I hope that's not the case with the house in my neighborhood.