Investment property Question

[JB Florida]

Has anyone purchased a condo/house at a ski resort that is a rental?
If you have how has it performed and over how many years?

You can PM me or email [email protected]

I'm thinking of finding some investment property that does not attract hurricanes

Thanks for any advice you have to offer!

 

[JoseCuervo]

JB.

I have heard that Tamarack Resort in Donnely, Ida has a formal program at their resort. Assuming you meet their qualifications, you can buy and they will manage the property for you. The number I heard was a big percentage that they took for management, but you would know if it was fair. You might be able to look into their program (probably on their Website) and get the lay of the land.

It might be of no interest other than an education for you as you look in other areas, or look for something less formal. Don't know what your intentions and goalsa are.

(Tamarack was the resort that Dubya stayed at when he was in Idaho last month, a new 4 season resort, first built in like 25 years in the US.)

 

[Moosie]

Tamarack is a Good location.... If you got in 2 years ago

I actually have a friend that went up to Tamerack area from Texas. He was looking at a 250Arce developement that looks like it fell through. the negotiations started out at 6.5 million and by the time they were done the landowner wanted 12+ mill. sounds Cheap but part of the land is unusable with a lake on it, etc.

He had 3 job offers in the 2 days he was there and turned them down and went back to Texas, Quit his Job, Moved back to Donnely and brought 3 Frameing crews with him. He has 3 more crews moving up in the Spring. Work up there is Insame right now.

I hae another friend that teamed up with 3 other guys that bought a "time share" (If you will) were they each get 2 weeks and it rents out the rest of the Time and they make no payments pretty much and the theory is it's gunna cash flow. I'll let you know after the season how it worked for them.

I know Guys buying 1-3 million $ homes just on the Hunch they can Roll them in a Couple years. Some lay down the coins, some Leverage, and others do the 100% 80/20 intrest only. I've heard some on the Stated income negative Equity program. I have Gonads of steel but thats a little out there even for me. Buy and Flip for Double.....Will it happen ? Is the market over inflated ? It's a Realestate gamble. the surrounding economy (According to Historic reports) won't and Can't sustain the $ volume and growth thats being built..... that being said, People with money don't care and Homes aren't slowing down. So you decide.

JB, (Yah, I know I still owe you a Package, lifes been crazy here bud ) I haven't done any ski resort Rentals but I'm tapping into the local market just in General. I've got my first 3 I'm signing on next week. I am making 2 offers on Monday and another place on Tuesday. I was approached by a Guy with a 20 Home PAckage .... but also just out of my leage. Nothing like you have, but I'm just getting started.. BUUUAhahah a!! I'd like to be able to tap into the Ski arena but I'm a Couple years out on the cash flow.

We own 2 acres up in Crouch and the Cabins around them are all winter and summer rentals. People with Family vacations and reuions, Etc. I hear they do well but our place My dad would like to Retire to so I'm guessing at this time We'll jsut build a Cabin for him. I'd be willing to team on a Deal like that in that area too if You're interested. Forget Jackson Hole this year and Head this way. I'll take a Few days off and We'll go Skiing, Look at some Houses and Buy some Chit !!!!!

 

[JB Florida]

Moosie, it sounds like you are "ALMOST" on go dude!

It sounds like that has possibilities. Ineed to do some research on this end.
I'm not EVEN concerned about a bubble. Our plan involves putting enough down that things cashflow and move on to the next. Its easy to find things here because of our R/E company but we just need some diversity.

Karen found something she REALLY likes at Keystone in Colorado and it seems to make sense so we have to get more info and sort through it.

I know that Jackson hole is not in my budget, that place is just crazy high.
But Man, what a cool place!

JoseCuervo-is tamarak the one behind Jackson Hole?

 

[Moosie]

is tamarak the one behind Jackson Hole?

No, It's straight up from Boise, West of Cascade lake, Donnely area (Just North and W. of Sawtoth ) :

You're right a "Bubble" is a Funny word.... Guys with Soap don't worry about it popping, because they know they have the soap to keep it going

 

[JB Florida]

RIGHT ON!
GOT SOAP

So the resort is in that Steep ass place you like so well???


I'mdeveloping the opinion that a lot of the beach money will move inland this spring because of the insurance hikes after this crazy year on the gulf coast.

The obvious choice is ski resorts.


thanks for the map!