Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Short-Term & Vacation Rental Discussions
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 5 years ago on . Most recent reply

User Stats

15
Posts
3
Votes
AJ Johnson
  • Wholesaler
  • Erie, CO
3
Votes |
15
Posts

STR in a funky new mountain build- what should I look for?

AJ Johnson
  • Wholesaler
  • Erie, CO
Posted

I am Realtor near Boulder, Co. and am taking the plunge into investing myself. I basically want to buy a home in the mountains and have STR subsidize some/most of the mortgage. I came across this new community and it got me interested.

It is located in Granby, Co. just behind Rocky Mtn Park, with 3 lakes, a small town and 30' from Winter Park Ski Resort. It's a funky area as it has camping and RV sites, and cabins along with the homes. There are some pretty cool looking amenities that would attract a lot of people. Here's the layout: https://3dq1fq1lesjd1aw5045f5a6h-wpengine.netdna-ssl.com/wp-content/uploads/2020/01/river-run-site-map.pdf

The home we are looking is 250K and can easily be made into a STR- here's the layout https://3dq1fq1lesjd1aw5045f5a6h-wpengine.netdna-ssl.com/wp-content/uploads/2019/07/river-run-villa-lookout-lodge.pdf

I'm worried I'd be competing with the cabins renting for 130 to 150/night. Plus, this is a brand new community being built, so there is obvious risk in the unknown. 

Thinking I would put it at 150/night to be competitive. With putting 10% down that leaves me around 1100 for my mortgage (no idea on HOA, other fees yet). If I rent it 10 nights a month that puts me at $1500/month, which should cover the mortgage and fees. Is this reasonable to assume?

Most Popular Reply

User Stats

181
Posts
115
Votes
Jeffery Wilen
  • Rental Property Investor
  • Vancouver, WA
115
Votes |
181
Posts
Jeffery Wilen
  • Rental Property Investor
  • Vancouver, WA
Replied

My biggest concern would be HOA restrictions.

  • Jeffery Wilen
  • Loading replies...