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Updated almost 11 years ago, 03/26/2014

User Stats

23
Posts
1
Votes
Doug Scarano
  • Multi-family Investor
  • Deerfield Street, NJ
1
Votes |
23
Posts

Inherited beach condo with negative cash flow?

Doug Scarano
  • Multi-family Investor
  • Deerfield Street, NJ
Posted

can anyone tell me of any benefit to have a rental vacation home that loses $10k per year?

PITI & HOA fees = $25k per yr

Rents = $22k per year

Less management commissions, upkeep, cleaning and amenities.

Leaves $15k per year.

Runs in the hole $10k.

Any tax benefits?

Am I missing something?

I could understand if it was $2-4 k but $10?

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