Anyone with a High Country Condo?

[seth25]

I am looking into the possibilty of buying a high country condo with my family in the next couple of years. We would use it 2-3 weeks per year and rent it out the rest of the time. I know that spring and fall would be tough times to rent. I am thinking a tool as VRBO to help rent the unit.

Anyone have experience with this? How tough was it to rent in the summer and winter? Suggestions?

I believe that Bdubs has a couple of cabins somewhere. I am looking at places around Dillon/Silverthorne that are little more touristy.

Thanks

 

[backcountryislife]

A bro of mine from Wisco has one in WP, they have it on VRBO & it breaks even (after taxes) with them using it during the holidays when it would make the most money.

Not exactly a money maker aside from appreciation, but IMO, NOW is the time to buy, things are about to turn but prices are still lower.

I know a few other folks that have condos that use them on & off that are happy with the investments. From talking to them I don't feel they are big money makers, even the ones that aren't in them on the holidays, but it seems long term that they work, plus you get a place to kick it on the weekends from time to time!

 

[seth25]

Not really looking for a big money maker, just really looking at it as a long term investment while I am somewhat young.

 

[MtnDoo]

To be successful you need traffic - people to rent it.
So, the higher traffic resorts are better bets - Breckenridge, Copper, Vail.

If I recall, 2bedroom condos rent more frequently than small & larger ones.

Not to say you can't be successful at a smaller resort, but the three above are sure bets.

Great Idea & Good luck!

MtnDoo

 

[bdubs]

I use VRBO and it does work, but you have to put a lot into it as it isn't the most refined.. your best bet it is to try and find someone seasonal or doing contract work in the area and wants to rent for odd time periods.. 4 months, 6 months etc. sux cause you can't use it during those times but it is sure money.. like in a down economy.