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Updated about 9 years ago,

User Stats

95
Posts
37
Votes
Alex SImon
  • Investor
  • Howey In The Hills, FL
37
Votes |
95
Posts

Ski resort condos--opportunity or pitfall?

Alex SImon
  • Investor
  • Howey In The Hills, FL
Posted

I've recently been turned onto a possible source of passive income properties.  There's a mountaintop ski resort in West Virginia that sells condominiums within the resort and then has in-house property managers that run the unit as a rental property whenever it's not in use by the owner (in my case, that would mean always).  At first I thought that a ski resort would be a poor choice because of high vacancy in summer months, but apparently the resort manages to stay mostly booked year round with golf and mountain biking bringing in visitors in the warm months.  The lower end of the price range has units at around the 35k mark in listing price.  While there is never any guarantee that the unit would produce consistently, it would only need to be rented a few days per month to cover operating expenses.  I'm still waiting on some numbers on a couple of properties, but I thought I'd reach out here in the mean time.  

Has anyone ever bought properties in a setup like this?  Experiences, thoughts, potential pitfalls?

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