Uber Ritzy Ski Resort Town Strategies?

[Corey Meyer]

I live in Big Sky, Montana and I need an outsiders perspective on making the numbers work on buying real estate in my market. I know there is a way, there is always a way to make the numbers work. However, with the average SF home here priced at $1million what does one do? House-hacking doesn't cover the numbers, short-term might get close but it is pretty risky and seasonal here. There is not much for BRRRR opportunity as Big Sky wasn't even a place on the map before 1970. Literally there wasn't even a town here then.

Right now developers are blitzed, over 500 concrete trucks a day come into town and one of the private clubs here poured over 100 residential foundations last summer. In 2015 the town estimated Big Sky as a place was only about 40% built out and by 2025 it would be nearly 100% built on the tiny amount of developable land here in the shadow of Lone Peak and nestled amongst National Forests and Yellowstone National Park to the South.

Do I just buy a lot and sit on it? Do I build? I don’t have the income to not have a property cash flow within a few months of purchase...

Thoughts?

[Alan Brown]

Yep, @Corey Meyer, and @Nathan Gesner, you nailed it.  Seems extremely rare to find anything that will cash flow in BZN let alone Big sky!  
A pretty amazing market for those that have the luxury to not cash flow.... 

what’s the cheapest piece of land you can find there, do you suppose?

And I think I’ve heard that ahort term rentals in BS are tightly regulated, no?  At one point I was thinking if I could just get ahold of a condo that would just break even for a few years I’d go for that.  Probably not, right?

It’s really my favorite place on earth geographically, but apparently I’m not alone!!