Kim Lisa TaylorSecurities Attorney, Founder, Syndication Attorneys, PLLC · Corporate Securities Attorney, 2x Best-Selling Author, Nationwide Speaker | Private Placement

How to Vacation Where You Live—And Make It Pay for Itself! 🏖️🏡 #RealEstateTips

5 Dec 2024 · 1 min

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In this segment, the speaker explains a real‑estate strategy she and her husband employ: they purchase homes in popular vacation destinations—St. Augustine (Florida), Lake Coeur d’Alene (Idaho), and a golf‑course community in Yuma (Arizona). When they are not personally using a property, they rent it out, allowing rental income to cover the mortgage and other expenses. This approach doesn’t necessarily generate large profits, but it effectively reduces or eliminates their out‑of‑pocket costs for living in those locations, letting them enjoy extended stays for little or no personal expense.

Chapters

You know, one of our strategies, my husband and I, is that we like to live where other people vacation. So we have homes in St. Augustine, Coeur d'Alene, on Lake Coeur d'Alene in Idaho, and also on a golf course in Yuma, Arizona. And when we're not there, we rent them. And so you don't necessarily get rich, but you do get your expenses paid. Somebody else pays your mortgages. You can reserve time for yourself to go there and you basically live there for free. Where otherwise, if we were paying to go down there for a month and, you know, hang out in Yuma, we'd be paying, you know, if we were paying to live for 6 months in St. Augustine, we'd be paying a lot more than the mortgage that we paid during the times that we're there. So, you know, it's really just a matter of trying to get other people to offset your expenses while you're there.