Manhattan, NY · Member since 2017 · 33 posts · 8 votes
Hey guys, so, this year I plan on buying my first rental property. I live in the Hudson Valley in NY. I live about 20 min away from Minerals Spa and Resort.. Right next to the resort, There's these relatively cheap condos for sale.. Wanted to see if anyone else as invested there, I've been told to stay out of the area, I've also heard it's a solid investement
My husband and I put in an offer yesterday on a 3 bedroom townhouse in Mountain Creek resort complex and I'm hoping to rent it out as an Airbnb. Hoping it pays off since we'd like to potentially buy a few more in the coming years to rent out and stay at sometimes as well. It's 4 season living, so we're hoping the rental market is as robust as it seems on Airbnb. Wish us luck!
Real Estate Agent · New York, NY · Member since 2015 · 401 posts · 235 votes
7y
I was at Minerals last year and a guy at the pool struck up a conversation with me and was trying to get me to buy his condo. I looked up listings and there was a disturbing amount of inventory. If it's solid why are so many owners trying to get out?
Manhattan, NY · Member since 2017 · 33 posts · 8 votes
7y
@Jason Lee on thing I’ve heard, is that the value of these condos don’t tend to appreciate, they stay constant, even though I’ve seen first hand that the condos have been going up slightly in price lately. Another thing I’ve heard, is that some shady people have moved into the area, and the place is “a dump” from what other people have said.. I’ve looked at about 10 condos there and drove around and it doesn’t seem like a dump to me at all, I’ve met some people who live there as well.. so I’m not too sure what to think of it. My plan was to buy one, and just rent it out long term
Real Estate Agent · North NJ · Member since 2017 · 77 posts · 17 votes
7y
Ryan,
Following up to see if you went ahead and bought a condo here? I’ve been looking recently too as I know there’s a lot of potential for both winter and summer rentals bc of Mountain Creek and all of the golf that is around. My brother actually lives there now and the section he is in seems really nice and prices are very reasonable IMHO.
Real Estate Agent · Hillsdale, NJ · Member since 2020 · 87 posts · 39 votes
6y
Ryan, would love to hear if you purchased a property in Vernon and if so, specifically where did you end up buying? Can you share your wisdom / experience about owning and renting out a property in Vernon.
My husband and I put in an offer yesterday on a 3 bedroom townhouse in Mountain Creek resort complex and I'm hoping to rent it out as an Airbnb. Hoping it pays off since we'd like to potentially buy a few more in the coming years to rent out and stay at sometimes as well. It's 4 season living, so we're hoping the rental market is as robust as it seems on Airbnb. Wish us luck!
My husband and I put in an offer yesterday on a 3 bedroom townhouse in Mountain Creek resort complex and I'm hoping to rent it out as an Airbnb. Hoping it pays off since we'd like to potentially buy a few more in the coming years to rent out and stay at sometimes as well. It's 4 season living, so we're hoping the rental market is as robust as it seems on Airbnb. Wish us luck!
@Jeannie Franck Good luck! Looking at the area now and curious how did your season go with STR? Post update, please!
Hello! We just listed the place a few weeks ago and had our first guest stay there this past weekend. It's hard to say since this is considered the slow season in Mountain Creek, but we've gotten a good amount of inquiries and interest. I'll have to let you know after the summer season as well as winter ski season. I think it will turn out to be a pretty good investment since there is soooo much to do in the area, plus wedding venues and the resort hotels are very expensive....although it's a bit risky in that you never know what type of neighbors you'll have. We sadly have a downstairs neighbor who smokes like a chimney and sometimes it seeps into our condo. It drove me crazy for a while until I took care of the issue (sealed all cracks, etc). My advice would be to try to rent an airbnb in the vicinity to get a sense of the specific complex (noise level, kids running around all day?, motorcycle owners?) Good luck to you!!
Hello! We just listed the place a few weeks ago and had our first guest stay there this past weekend. It's hard to say since this is considered the slow season in Mountain Creek, but we've gotten a good amount of inquiries and interest. I'll have to let you know after the summer season as well as winter ski season. I think it will turn out to be a pretty good investment since there is soooo much to do in the area, plus wedding venues and the resort hotels are very expensive....although it's a bit risky in that you never know what type of neighbors you'll have. We sadly have a downstairs neighbor who smokes like a chimney and sometimes it seeps into our condo. It drove me crazy for a while until I took care of the issue (sealed all cracks, etc). My advice would be to try to rent an airbnb in the vicinity to get a sense of the specific complex (noise level, kids running around all day?, motorcycle owners?) Good luck to you!!
Thank you so much for the feedback!!! We are going to see a few listings there tomorrow - may become neighbors sometime in the future :)
Good luck, Olga! Let me know if you need any help or info. We have gotten several renters and we ask a fairly high nightly rate. We weren't sure if people would actually rent, but there has been a good amount of interest. I think it's because the hotels in the area are way more expensive.
Good luck, Olga! Let me know if you need any help or info. We have gotten several renters and we ask a fairly high nightly rate. We weren't sure if people would actually rent, but there has been a good amount of interest. I think it's because the hotels in the area are way more expensive.
@Jeannie Franck we are planning to buy something here and use it for Airbnb. I actually came down here and loved it. We plan to come and stay off and on. Since we are just two hours away. How is it going so far for you? This will be our first Airbnb so a little apprehensive. Will greatly appreciate a response.
Hello! We just listed the place a few weeks ago and had our first guest stay there this past weekend. It's hard to say since this is considered the slow season in Mountain Creek, but we've gotten a good amount of inquiries and interest. I'll have to let you know after the summer season as well as winter ski season. I think it will turn out to be a pretty good investment since there is soooo much to do in the area, plus wedding venues and the resort hotels are very expensive....although it's a bit risky in that you never know what type of neighbors you'll have. We sadly have a downstairs neighbor who smokes like a chimney and sometimes it seeps into our condo. It drove me crazy for a while until I took care of the issue (sealed all cracks, etc). My advice would be to try to rent an airbnb in the vicinity to get a sense of the specific complex (noise level, kids running around all day?, motorcycle owners?) Good luck to you!!
HI! , how has the journey been with Vernon?, im planning on purchasing a condo 6 mins from the ski resort and wondering if it will be a good Abnb investment since i only live an hour away.. any information would be appreciated.. thank you.
Good luck, Olga! Let me know if you need any help or info. We have gotten several renters and we ask a fairly high nightly rate. We weren't sure if people would actually rent, but there has been a good amount of interest. I think it's because the hotels in the area are way more expensive.
@Jeannie Franck we are planning to buy something here and use it for Airbnb. I actually came down here and loved it. We plan to come and stay off and on. Since we are just two hours away. How is it going so far for you? This will be our first Airbnb so a little apprehensive. Will greatly appreciate a response.
The inventory in Mountain Creek resort area has increased tremendously and people are lowering their prices drastically. We are probably going to go the long term rental route since it will be around the same amount of money and it will be a lot less stress. the cleaning fees were high (at least for someone good). It makes sense for us since we don't go there often to stay.
Also, it's been a little difficult with some of the neighbors. They're not very fond of Airbnbs and are constantly trying to get the town to change laws and who knows what will happen in the future.
Good luck, Olga! Let me know if you need any help or info. We have gotten several renters and we ask a fairly high nightly rate. We weren't sure if people would actually rent, but there has been a good amount of interest. I think it's because the hotels in the area are way more expensive.
Hey Jeannie,
hows your Mountain Creek condo doing? I'm actually staying in one with my family for the weekend and wondering if it makes sense to purchase one. Looks like they were able to make some cosmetic updates like a feature wall and painted walls which drew us to choose this one over the others. But the real question is, are you making good money despite the HOA and cleaning fees?