All Forum Posts by: Jack Gerstein

Hello, The condo has the potential to be very sexy. The location looks over the Fraser River. The setting is tranquil and does not have a big mountain view. I am considering adding a private hot tub on one of the 4 decks. The condo sits above the HOA common hot tub that tenants have use of. Is there a bang for the buck to add a private tub? The flooring is tired carpet which I'm thinking of replacing with good engineered material. The appliances are functional and very dated; consider replacing them with stainless or another fresh look. Is there increased income for the updates? Also looking at removing the door framing to make the adjoining rooms flow better. Each living room has a fireplace. Now there is too much furniture which needs to be removed. This is a short video of the unit. All comments are appreciated. This asset is a hold as ski area develops.

Hello. I was looking at a great condo for location and mountain views to add to my inventory. I walked away because it was not warrantable due to timeshares in the subdivision. The condo was nicely updated and had a covered attached garage.  Lending required a higher % down at a higher rate. Does anyone have an approach to negotiating? The seller is motivated to sell to move equity into a replacement property. I feel that purchasing this condo is buying someone else's headache due to not being warrantable. Any thoughts?

Post | Short-Term Rental Bootcamp Community Winter 2023

Hey there, Washington state government.  When you are not re-elected to office  do not relocate to  Colorado. 

Hey there BP members. I live in one of Colorado's ski resorts. The County is meeting to review all STR operating rules and regulations. There are older subdivisions with Covenants and Declarations that do not clearly address noise disturbance levels and how to address them. The County does not have levels by decibel nor time of day to manage noise disturbances regardless of the cause. The county defers to State Noise statute: https://www.nonoise.org/lawlib... which applies to metro areas, not mountain resorts. I think that in residential subdivisions, noise past 10 pm is difficult to manage( we are on vacation and must be measured to have a standard to work by. STRs are on vacation and unaware of being in a residential community with working neighbors. Do  BP members have suggestions on managing noise in a single-family home neighborhood? When the cov/decs were written, the internet did not exist. The neighborhoods comprised full-time working residents and second homes, not a mix with STR. Please share your history and comments. Thanks

Jack M Gerstein: Broker/owner
Mountain LifeStyle Realty
"Winter Park Jack" local since 1972
^Fun to work with, a silly sense of humor^
^ 2X Everest Climber^

“from Everest to Winter Park, no one knows

Mountain real estate like I do.”

303.886.9616 I answer my phone

How is the long-term market? 

Investment Info:

Retail commercial investment investment.

Purchase price: $800,000
Cash invested: $200,000
Sale price: $4,875,000

Bought from FDIC, did many improvements, increased rent refied 2X

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

I was a tenant and knew that either my group or another would buy the property, and rent would increase.

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

Went to texas and bid on the property.

How did you finance this deal?

bank

How did you add value to the deal?

Many improvements to the building and parking.

What was the outcome?

sold at the top of the market

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $145,000
Cash invested: $30,000
Sale price: $300,000

SFH zoned tourist rented to the workforce

Investment Info:

Industrial commercial investment investment.

Purchase price: $239,000
Cash invested: $50,000
Sale price: $349,000

bad investment, held too long, HOA and taxes do not stop. The market did not change as anticipated

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

I wanted to develop live/work property

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

I went direct to owner

How did you finance this deal?

Bank

How did you add value to the deal?

did not

What was the outcome?

Held too long, should have sold sooner.

Lessons learned? Challenges?

Get Ego out of the way to make decisions based on data.

Investment Info:

Other other investment.

Purchase price: $225
Cash invested: $225
Sale price: $377

Vacant land

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

price and location

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

full price

How did you finance this deal?

Home equity

How did you add value to the deal?

removed trees to open views

What was the outcome?

sold quickly

Lessons learned? Challenges?

I have a good eye for properties in this area.

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

I am the buying broker, applied all commission to closing costs