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Updated 9 months ago,
Platinum STR at Vail Racquet Club offers highest rental revenues possible!
Investment Info:
Condo other investment.
Purchase price: $745,000
Cash invested: $400,000
Sale price: $745,000
Amazing 1 bed/2bath East Vail Creekside condo at the Vail Racquet Club. Listen to Gore Creek virtually year-round. VRC Platinum-rated short term rental residence offers the highest rental revenues possible. This Mountain Modern condominium has high-end finishes in kitchen and bathrooms including heated floors and custom built-ins in the living room. Private storage locker adjacent to residence. Also, it's easy to get to Vail Village and Lionshead with the free Town of Vail East Vail Bus.
What made you interested in investing in this type of deal?
Proximity to Vail Mountain Resort. Platinum-rated short term rental residence offers the highest rental revenues possible. And the amenities. Olympic sized pool, hot tubs, on-site restaurant, yoga, pilates, gym, steam, sauna, and management company to take care of it all.
How did you find this deal and how did you negotiate it?
I've been targeting the Vail Racquet Club ever since my stay there during the Vail Alpine Ski Championships in 2014. We were able to put a deal together 10 years later after the sale of a different property in Aurora, CO. Using a 1031 Exchange we were able to defer capital gains taxes and upgrade to the VRC. A win-win!
How did you finance this deal?
HELOC loan.
How did you add value to the deal?
Buying fully furnished and jumping into the VRC Short Term rental program straight away.
What was the outcome?
A property that we can cash flow, and use as a vacation home. Pares well with the Epic ski pass.
Lessons learned? Challenges?
Stay patient, stay focused, and strike when the timing is right.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I'm a licensed real estate agent in the State of Colorado. Please connect with me if I can help you buy or sell a home here in Colorado!