All Forum Posts by: Jed Spencer

I've been going through the analysis on Snowshoe recently. As purely investment, it doesn't make as much sense to me as other areas that own (primarily North central MD and South central PA), but.....we ski a lot and would use a ski place 4-5 weekends in the winter (we're about 4 hrs away). I agree with what some of the others above have said re the fees at Snowshoe--the SS mgmt fees are 25%, cleaning 15%, HOA, "mountain tax", etc. it makes it almost impossible to even break even at one of the condo complexes. Because of that we've been leaning toward one of the SFHs up there and trying something like Evolve vacation rentals to set up cleaning, renting, etc. With that setup my rough numbers are for a purchase and rehab of 300-350k I can probably clear 5-10k/yr after costs and debt.

@Mike Webb-thanks for the offer.  Would definitely be interested in lunch one day; Fridays are usually best for me.  If there's a way to PM (still new to the functions on the forum), we can set something up when you're available. 

Hello all, 

I'm new to the forums and thought I'd introduce myself.  Although my wife and I have some experience in real estate (we've bought and rehabbed a few houses both by ourselves and using contractors, and we're currently living in a home where we started with raw land, hired an architect and project manager and stick built),  I'm new to real estate investing and am currently learning as much as possible from this site and a few books. I've been listening to all the podcasts during my commute each day.  The rough plan for the next 1-3yr is to purchase with 2-5 small multifamily buy and holds in the MD/So PA area. Thanks again for creating such a great community; it's good to be here.