Ski Resort Condo Buying Strategy

[Steven Behnke]

Hello everyone, What do you all think of the strategy of buying small 1 bedroom condos but in the best locations at ski resorts so I can charge a premium price per square foot but keep my initial and long term costs as low as possible. Does anyone here have experience purchasing condos at ski areas with this strategy? What do you all think?

[John Weidner]

I'm neutral.  Management fees are usually pretty high and it's tough to self-manage.  I see it as an appreciation play vs cash flow...or a place to dump cash and take a depreciation line on taxes.  I don't know anyone who has gotten rich on these but they also didn't take too much of a hit in the 2009/2010 time frame 

Recommend ski in - ski out if your gonna do it and make sure there are amenities like Hot Tub and  pool. 

Also check into the reserves these condos like to make improvements and can expose you to a big hit if the reserves are light