BRECKENRIDGE STR // Will I cash flow?

[Brandon Bonfiglio]

I'm considering buying an STR in Breckenridge Colorado. I just want to get some opinions from people who know / have an STR in that area. Would I cash flow here ? I know that question has many more layers then "yes or no" but I want to know if the possibility is high or not. I'm looking to spend around 500k . I already have a very successful STR in Gatlinburg TN that I gross around $120k a year on and I spend $800k on that . I was wondering if numbers like that are possibly for this area .

[Nicko Ferguson]

@Brandon Bonfiglio it comes down to convince. vs price per night. Can guests walk to the chair lift? Does it have off st parking? Hot tub? Close to bars and food? I'm not up to speed on Breckenridge pricing but I live in Telluride. $500k will get you a studio here... possibly a 1 bedroom. Right now there's a cap in colorado on how much a place can be rented or how much inventory a PM can rent. Do some research into that. Personally I would wait and see if the resort even opens for the winter. Things could get real weird and some properties may become distressed in the next year or so.