All Forum Posts by: Will R.

@Mindy Jensen

 I totally get what you are saying with higher end instead of luxury. I I think I would basically do some Ikea hacks to give a custom feel without breaking the bank. I would probably do that with remodel or new. From what I am hearing on construction, remodel/update is the better route. 

@Bill S.

 Thanks for the reply! I can totally understand the local bias. Do you think modular would work in mountain context? I was thinking I could GC the construction by living in a rental for the first summer but the trades may still give me the same markup I guess. If you had taken the carrying cost of three of the summer months out of your math, do you think the numbers would have penciled out? 

@Travis Sperr

 Great thoughts! Is there any way you could share rough/average numbers for that new construction? Do you think Frisco would see decent rental rates and vacancies? 

Hi @Mindy Jensen! That is a good point on the marketing/popularity of the mountain. What I hear you saying is either luxury build on the slopes or budget build off the slopes. Which of those do you think has better ROI? If you did not rent in the summer, which of those would you buy? Do you think proximity to Denver is important?

Hi @Matt M.! Thanks for the reply! Do you think Summit county is going to be better than a standalone like Crested Butte or Durango? Do you think I am better off buying further from the slopes at the $300k point? What do you think a place like that would gross if you assume 100% vacancy in the summer? 

I am considering a life hack and wondering if anyone has real data or life experience that could help me make a decision. The basic plan is to purchase or build a ski-in ski-out house or duplex in Colorado. I may never use it to ski. However, I would lease out my house in Austin and live there in the summer. Think: snow bird (but escaping heat). Assume I do the marketing but outsource the operations to someone.

Here are the questions:

1. Could I "live for free" in the summer on the ski season income? What if I also discount the carry costs of the 3 months I am there? 

2. I want to own the dirt. Will this plan work with a cabin/house/duplex instead of condo? 

3. Should I go luxury/middle/cheap? Where is the real bang for buck? Obviously, I would prefer nicer but would rather make the best financial move.

4. Should I buy or build? Given the lots I have seen, seems much cheaper to build but maybe I am really (2x) underestimating construction costs in ski areas. What are your costs to build?

5. What is the best mountain for this and why? http://www.coloradoski.com/resort-season-dates

6. Is ski-in ski-out short-term the best idea? I picked that because I want to focus on maximizing the ski season income but maybe you have a better idea. Cheaper area? Seasonal staff rental? Student rental (Gunnison)?  

Not sure if anyone has a crystal ball with these kinds of answers but I figured I would ask. I could answer all these questions pretty well for Austin but I am at a total loss for a ski town. 

I will be backpacking up there next week and may go radio silent on this thread for a few days. I will obviously ask around while I am there but I figure you guys probably think more like I do than the average agent. Also, BP is based in Denver right? So, someone here has to have answers...

1. Yes. It is difficult. Alternatively you can just create a condo regime.

2. Balloon is fine as long as you buy at a price you can sell quickly if needed. 

I have a daycare (I think you do also?). I am generally looking for multifamily but have a hard time finding over 4 units here at a logical price. 

No price ceiling. As close to downtown/campus as possible. No specific zips. 

(65880 * .4) / 479000 = 0.05501461377

A 5% cap on a free place to live seems good to me as long as the property draws tenants that you could be friends with. (not that you should be friends with them but that they are people you understand)