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REAL ESTATE Short-term Returns

Should I court short-term renters for my ski town condo?

  • Short-term is the only way to go!

    Votes: 4 80.0%
  • No way!

    Votes: 0 0.0%
  • Maybe. [please explain]

    Votes: 1 20.0%

  • Total voters
    5

PEERless

Bronze Contributor
Jan 23, 2008
1,469
106
81
I wonder if anyone has experience with renting short-term in resort/vacation areas. I have a one-bedroom in a ski town, and I am considering marketing it to both vacationers and to locals.

Wondering if anyone can walk me through the cost/benefit of furnishing or not and managing vacation rentals. Thanks in advance.
 

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hakrjak

Bronze Contributor
Read Millionaire Fastlane
Sep 15, 2007
1,978
140
88
Colorado Springs
I believe the property managers will charge between 40-50% on your returns, but for that fee they will be over there often, changing the sheets and getting the place cleaned, etc for you....

Depending on the town, you can keep it rented pretty easily in the high season -- but it depends on your personal situation whether you can cashflow or not. It sounds like you own this place for your personal use, so any money you make off of it will be gravy?

Cheers,

- Hakrjak
 
OP
OP
P

PEERless

Bronze Contributor
Jan 23, 2008
1,469
106
81
Are you talking about something like this?
Yeah, that's a good resource, thank you!
I believe the property managers will charge between 40-50% on your returns...
Actually, I was considering managing it myself. :blush:
...It sounds like you own this place for your personal use, so any money you make off of it will be gravy?
Yeah, it's my first RE investment, but I didn't do a Cash-over-cash analysis first. I'm sure it'll appreciate, but it'll take some voodoo to make this baby -flow.
 

hakrjak

Bronze Contributor
Read Millionaire Fastlane
Sep 15, 2007
1,978
140
88
Colorado Springs
So you live the resort town where your resort property is? Sounds good... why not take it one step further and manage some other people's too? :) Good money to be made out there.... And then you can direct clients away from other people's units to yours first! hehe

- Hakrjak
 
OP
OP
P

PEERless

Bronze Contributor
Jan 23, 2008
1,469
106
81
So you live the resort town where your resort property is? Sounds good... why not take it one step further and manage some other people's too?
Yeah, I live in Jackson Hole, but my condo is twenty minutes away by Targhee. Pretty easy to keep an eye on things. Actually, even better than being a property manager, I'm a live-in caretaker which frees up cash for investing.
 
OP
OP
P

PEERless

Bronze Contributor
Jan 23, 2008
1,469
106
81
why not take it one step further and manage some other people's too? :) Good money to be made out there.... And then you can direct clients away from other people's units to yours first!
After a re-read, I'm liking this idea more and more...
 

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