Ski In/ Ski Out STR in Breckenridge, CO

[Dustin McQuate]

Investment Info:

Condo buy & hold investment.

Purchase price: $500,000

Completed a 1031 from Baltimore, MD (LTR) to Breckenridge, CO (STR).

What made you interested in investing in this type of deal?

We moved to Breckenridge full time to enjoy the Rocky Mountains.

How did you find this deal and how did you negotiate it?

My wife is a Broker at Sotheby's International RE in Breckenridge and we both have experience with RE investing and financing.

How did you finance this deal?

1031 proceeds + HELOC.

How did you add value to the deal?

Refresh of everything and new furnishings, but the market appreciation here is where most owners earn the majority of their equity.

What was the outcome?

STRing for a nice profit... and I have another free parking spot (when we have no guests) within a block of the best chairlift in town and where I can ski back to within steps of my car!

Lessons learned? Challenges?

Managing STRs requires a lot more time and energy than managing a LTR... but it's been worth it.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Laurel McQuate
Broker Associate
Summit Area Specialist
Resort & Second Home Property Specialist

LIV Sotheby's International