All Forum Posts by: Candice De

@Benjamin Carver I like your creativity! In recent conversations in my area (Summit County near 5 ski resorts) they are actually encouraging that type of development to increase density and options as there is a major affordable housing shortage in our mountain communities (join the club, right?). That said, they are also limiting Short Term Rentals and trying to incentivize long term rentals in specific areas. For example you can't get a new STR license in Breck after November 2. That makes the economics a little different depending on where you land. I'm happy to chat more on the areas where I think this would be viable.

@Frank Basile I’ll offer another spin on this… if you love to ski, check out living in the mountains. Yes, it can be more expensive, and it will depend on your job requirements, but there are lots of options with house hacking up here too! Areas like Leadville, Alma, and Edwards all offer great mountain access without the Denver I-70 drive. 

@Matt Jones hey!! Great question! As STR regulations increase and housing shortages increase I don't think waiting is the best strategy… that said, the cabin vibe may have different trends. Reach out and I'd love to chat more! Go Tigers!

@Brandi Curioz as you mentioned it is a tricky time. I am in Frisco, Colorado near Breckenridge (and 3 Vail ski resorts and 2 other resorts).

Breckenridge is set to pass legislation that is eminent.

Unincorporated Summit County is planning to pass a 12 week moratorium on new licenses on Tuesday, but they are proposing to exclude strictly resort towns (Copper and Keystone) and are targeting more traditional neighborhoods.

Vail chose not to pass the 90 day moratorium but they are looking at future options.

I’d say there are opportunities to get in now, but they are likely going to be reduced in the future, and certainly do your homework on the latest plans wherever you look. I’m happy to help with more info in Summit County, CO.

STR... good, bad, or depends?

I live in Frisco, CO nestled between 5 ski resorts, lovely Lake Dillon, and a 1.5 hour drive to the growing metro area of Denver.

We are not alone here, but in Frisco, there is a big workforce housing issue as prices rise, so much so that our Town Mayor considered declaring a state of emergency.  https://www.cpr.org/2021/05/27...

In Summit County, and communities surrounding Frisco, there have been some recent developments in the investment space to address the workforce housing issues by limiting Short Term Rental licenses, saying that will restore more community feel and provide more supply to workers and long term renters.  

Breckenridge is proposing to stop issuing STR licenses until their proportion gets down to a smaller % of the overall housing supply. Some say this will take 3 years. This hasn't passed yet, but has had a first reading, so we will see how that plays out in the coming month. There is a lot of discussion about exceptions.

Unincorporated Summit County (like Blue River, the area just south of Breck that was the next best option) is proposing a moratorium on issuing new licenses.  They are currently proposing 12 weeks of not issuing licenses. Again, this hasn't passed but is in discussion.  

As investors, it is safe to say we don't like to see this.  As a community member, I am torn.  I hate seeing "Now Hiring" signs on every business.  

Question for all of you: Do you think Short Term Rentals are causing the problems in resort towns (or elsewhere)? Do you think limiting them will solve the problems?

@Harrison Sharp I am an agent and investor in Frisco, CO within 30 minutes of 5 resorts. I’d love to chat more to help you find what you’re looking for. Here in Summit it’s no slam dunk, but there are certainly options! Send me a PM!

@Tim Schroeder I agree with some of the previous statements about Park and Chafee. I think there is a lot of upside potential further outside the ski areas. South of Summit to FairPlay, Alma, BV, and west to Leadville offer great summer access to recreation and community events with ok access to ski areas, though not the winter peak like you see in resort towns. I also like outside of Steamboat and outside of Winter Park. All of this said, there are some decent condos if you want to pay a little more for your vacation use and favor appreciation over cash flow. I live in Frisco, and it isn’t easy, but there are options around here!

@Kevin Taylor I used Real Estate Express. It was not the best but checked the boxes and I learned enough to pass the exam the first time. My friend used Kaplan, and it seemed like a better education.

@Cole Leonida depending on your experience and understanding of the process (and the sellers) a realtor may be worth the money, or may not. You can offer a transaction broker that would cost half (or a fraction of) agents on both sides.

@Tyler Batchelder I am not convinced there is a good time to eat capital gains unless you can make that money back elsewhere (if you have a secret please share). You may be paying a premium now but the long game surely has to be better than giving money to taxes. Check out Aurora for some better numbers without the long drive.