No. of Recommendations: 1
"My aunt wanted me to take over that house, to keep the property in the family. I was years away from retirement, so I couldn't. I did suggest she offer it as a rental."
My opinion is a lot of investors are buying up the housing stock in the area.
They are buying properties that they can AirBNB and VRBO. That has been a solid
investment, so far, I imagine. But I can see and feel a backlash building against
STR's. And LTR's are not nearly as profitable as STR's. So for the prices being
paid, the investors better hope that STR's don't get regulated out of profitability.
"Property on Torch Lake is generally more valuable, with median prices around $989,500 and high-end estates reaching into the millions."
Torch Lake is beautiful, no doubt. I got out on it once this year, on a friend's
pontoon. Huge lake, with huge houses ( mansions ) populating much of the
shoreline. But I can find lake, Bay, or river water spots that are every bit
as nice as, to recreate in. And throw in the every-day-is-Mardi-Gras-in-the-summer
attitude by all of the out of the area visitors, and they can have Torch Lake.
Lot of more relaxing spots to visit in the area.
ps: I thought Whitmer's kidnapping-plotters were holed up near Elk Lake, in Elk Rapids.
could be wrong about that, and Elk Lake is directly connected to Torch Lake,
have boated from 1 to the other, so it's the same general area.
