If You Could Own a Second Property
I was reading through the "Flexible Vaction Poilcy" thread and it inspired me to make this one. If you guys could own another property, where would it be? I've always wanted something off the grid and with few hundred acres of land around it. Somehwere with good hunting/fishing, I've never been hunting but I could learn. T. Boone Picken's ranch is cool but something less ambitious and more off the grid would be better. For locations, either Georgia or Texas.
Somewhere in a lower tax state than CA, that's for sure.
Not going to save on taxes if you're still based in a high tax state like NY or CA. You can game local taxes a bit, but you're likely stuck for state.
Montana would be nice if not for the travel. Bourdain did a really sweet show about it before he kicked the bucket.
You'd be surprised, when a majority of your income isn't W2 things open up. Although I'm a relatively risk averse person, so when newsome came out with the 0.5% tax for "mental health" last year on income > 1 mil, did I cry? Yes. Did i pay? also yes.... fuck me lol
Fun question! I’d pick SoCal (probably Manhattan beach specifically). Can’t beat the weather, food , entertainment, golf, beaches, Santa Monica is close by for the pier, literally everything is nice assuming you’re not poor there.
manhattan beach has its own pier too
I didn’t like it as much as Santa Monica
I’ve never liked Manhattan Beach personally. I think Laguna is my favorite, followed by Palisades/ Malibu. I’ve recently found this somewhat hidden beach in Malibu that I’ve been frequenting.
Somewhere close enough that you can reasonably visit on the weekends. You don't want a second property that's so far away you never use it.
But, if it were further away, Wyoming or Idaho.
tetons, ofc
https://nypost.com/2020/03/14/why-so-many-billionaires-are-escaping-to-…
Lake Tahoe, for the recreation in both winter and summer
Somewhere in or bordering the Kruger National Park.
Wouldn't own a second property at all, would much rather rent out Airbnbs
This way you're not tethered to one location / don't feel obligated to overuse it because you bought it & its weighing on your taxes, etc. Geo flexibility is key
Have you done this yourself? Would be curious to hear an elaboration if so
A bit here and there. Would do it more if possible, and I think post-COVID remote work will be a lot more normalized, so I look forward to spending more time working out of Airbnbs
Would you own any property? Not sure why you'd own a primary residence in the first place with this rationale. Or for that matter, anything at all. Just lease or rent. Cars, clothes, etc.
Something a lot of people (younger or college age kids, I suspect) on this site don't seem to ever grasp is that there is more to life than maximizing the number of dollars you make. Some people like the idea of having a home in which to raise kids, a community to be a part of, let alone the other intangible benefits (for example, people don't leave NYC in droves because they like having Broadway or a 24 hour subway, which you don't get in the suburbs of Houston). Yes, seeing the world is great, but maybe spending 6-8 weeks in the same small ski town is nice because you can have genuine relationships with locals, and an actual pace of life.
I agree that having "geographic flexibility" is nice, but it also means foregoing all those other things. It's easy when you're 25 to be into sleeping in a different bed for a week every couple months if you're imagining traveling, but speaking as someone getting closer to 35 than 25, there comes a point where being able to travel without a suitcase and to have private space becomes more valuable. There is a reason people think "travelling the world" is a young person's game.
Downside is you're always packing a bag. If you have your own place you just keep stuff there and hop on a plane or drive over, maybe stop on the way to a grocery store. Not dissing travel in any way, but a second property is something you go to every weekend in the summer or for weeks at a time, I'd want something permanent for that type of function.
Airbnb your second home and then do that.
Somewhere close to a beach with ample bars nearby. Preferably some good bars on the beach within walking distance so I can get tipsy watching the waves.
My goal is to make my primary residence a lake house. I'm from the southeast so Charlotte NC would work as a metro area with a commutable lake. To me just relaxing off the end of my dock, going fishing and kayaking would be like a vacation every weekend and some weeknights.
I'd say somewhere along the Florida panhandle like Destin, Panama City, or Mexico Beach. Great culture, food, and fun.
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