Short-Term Rental in Mountain Town

[James Heller]

Hi BP -- I have a property under contract in Woodland Park, CO which is a smaller mountain town outside of Colorado Springs. It's close to a few lakes, some nice hiking and offroading, and is more of a 'summer getaway' as it is not positioned near ski resorts. 

I'd love some input on STRs like this as it would be my first. Is anyone familiar with that area specifically and can offer an opinion on the market?

Thanks in advance! -- James

[Account Closed]

These are exactly the kinds of areas we suggest looking at first. 

1. You can buy more for your money usually, which means really high ADR comparatively because groups split it

2. More amenities can be added to still increase ADR

3. You're protected from any other pandemics that decide to happen - during COVID everyone left the cities for these areas outside of town

4. People who already live in the nearby cities use those areas as staycations

5. Land

And more I'm sure!

Edit: 6. Being further from neighbors means less angry phone calls/reports/etc