Rocky Mountain Real Estate

[Mike Andrews]

There are some smart people here, so I was hoping to get your opinion on what you would do.

I am inheriting 4 acres of gorgeous land on the side of a mountain about 5 minutes outside of Estes Park, Colorado, about 8 hours from where I live full time. Estes Park is a large tourist destination. I would like to somehow turn this into an income-producing property but still have the ability to stay on property when I visit Colorado.

Currently, there is a 100-year-old cabin on the property and is not in good enough shape to rent out. I would be hesitant to even update it since the foundation and bones are so old.

There is a stream that runs through the property and is close to a major highway with easy access.

Some options might be selling 3 out of 4 of the acres, building a brand new cabin(s) and AirB&B it, start an RV park, etc.

What would you do with the property?

(I tried to keep this short. I realize there are a lot of factors that go into this so feel free to make assumptions or ask me for clarification in the comments.)