Buying a Second Home: Income, Getaway or Retirement

This book delivers the often confusing financial and tax implications of owning investment properties in easy to understand language. Also good to couple with Second Homes for Dummies.

Comprehensive treatment of second home subject. Readable, understandable, and broad in scope.

I found this book to be extremely helpful. The author did a great job at breaking down complex information into easy-to-understand, everyday language. In particular, I found the budget worksheet (which also appears on the CD-ROM in the back of the book) to be great! It walked me through step-by-step how to create a realistic, affordable budget. This book is a must have for anyone thinking about buying a second home.

The purchase of a second home for use as an income property, for vacation getaways, for retirement, is becoming more and more popular and no longer relegated to the upper income wealthy. Indeed, in today's market, two out of every five U.S. homes are purchased as a second residence. Craig Venezia is an authority on private mortgages and brings to bear his considerable experience and expertise in "Buying A Second Home: Income, Getaway Or Retirement", a comprehensive and detailed manual designed for the non-specialist general reader thinking about acquiring a second residence. Of special note are the 'Seven Secrets of Buying a Second Home' covering such fundamental issues as timing the purchase of a second home, budgeting for a second home, the importance of location, understanding tax consequences, nontraditional financing, renting to offset the expenses of purchase and maintenance, and protecting the investment that a second home represents. Accompanied by a CD containing useful checklists and custom worksheets for use when entering the market for a second residence, "Buying A Second Home" is essential, money-saving, investment enhancing, anxiety abating, fundamentally important reading for anyone contemplating the purchase of a second home for themselves that would be compatible with their financial resources and life style plans.

Easy book to understand the tax advantages (esp. depreciation) of buying a second home. Recommended. Couple with "How a Second Home Can Be Your Best Investment" for strategies in buying up.