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.

 

Bankerconsu

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. 

The only difference between Asset Management and Investment Research is assets. I generally see somebody I know on TV on Bloomberg/CNBC etc. once or twice a week. This sounds cool, until I remind myself that I see somebody I know on ESPN five days a week.
 

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.

 

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.

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Most Helpful

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

 

Sequoia

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

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. 

 

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