New STR Owner in Angel Fire, NM - Thoughts?
Member since 2023 · 7 posts · 3 votes
New STR Owner in Angel Fire, NM - Thoughts?
Most Popular Reply
Luke CarlPro Member
Rental Property Investor · Tennessee Florida · Member since 2016 · 4k+ posts · 5k+ votesSounds like you’ve done all your homework and knew what your were getting into, you’re just a little scared. No worries. You already signed papers so don’t look back. Only look forward and get it booked!
20 Replies
- 3yLuke CarlPro MemberRental Property Investor · Tennessee Florida · Member since 2016 · 4k+ posts · 5k+ votes
Sounds like you’ve done all your homework and knew what your were getting into, you’re just a little scared. No worries. You already signed papers so don’t look back. Only look forward and get it booked!
- 3yCollin HaysBusiness MemberProperty Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
Angel Fire is a neat community. As you well know being in real estate, whether the numbers work is all a function of what you paid. Angel Fire (and all of northern NM and southern CO) are seasonal destinations. In years when Angel Fire gets good snow, the winters should do well. In the summers, you will have lots of folks from Texas escaping the heat for a few days. Fall foliage isn't as big a deal in the southern Rockies, as most of the forest is conifers/evergreens.
Angel Fire is a weekend getaway for the Texas panhandle and south plains, so it might not hurt to do some targeted Facebook marketing in those areas - Amarillo and Lubbock in particular. My son and I will sometimes stay in Angel Fire when we fly fish Cimarron Canyon a few miles away. - 3yMichael BaumPro MemberOlympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
Hey @Blake Paschal, is it listed on AirBNB and VRBO yet? Are you just starting the setup?
- 3ySarah KensingerPro MemberReal Estate Consultant · OH · Member since 2023 · 2k+ posts · 1k+ votes
I know it can look scary especially with tight cash flow, but since you've already purchased the property keep a positive attitude and trust the process! You should do fine if you have an eye-catching listing and nice amenities for the property!
- Member since 2023 · 7 posts · 3 votes3yThanks Luke! You’re exactly right - just a little scared since this is a new endeavor. We are excited to get things going.
Quote from @Luke Carl:
Sounds like you’ve done all your homework and knew what your were getting into, you’re just a little scared. No worries. You already signed papers so don’t look back. Only look forward and get it booked!
- Member since 2023 · 7 posts · 3 votes3y
Quote from @Michael Baum:
Hey @Blake Paschal, is it listed on AirBNB and VRBO yet? Are you just starting the setup?
Still setting up, buying furniture and all that. Hopefully the listing goes live by mid-July at the very latest.
- 3yMichael BaumPro MemberOlympia, WA · Member since 2016 · 8k+ posts · 7k+ votesWell ok! So make sure you make the kitchen great. Plenty of dishes, flatware etc. Our house has a full compliment of spices and the like. Plenty of pots and pan, casserole dishes, pie plates etc etc.
Quote from @Blake Paschal:
Quote from @Michael Baum:
Hey @Blake Paschal, is it listed on AirBNB and VRBO yet? Are you just starting the setup?
Still setting up, buying furniture and all that. Hopefully the listing goes live by mid-July at the very latest.
We constantly get compliments on the kitchen and how people can cook any kind of meal. - Rockwall, TX · Member since 2017 · 11 posts · 2 votes2y
Hey Blake, I would love to hear an update on your STR experience in Angel Fire? I own an STR in the Smokies and have been researching the Angel Fire area for our next property. Any insight would be greatly appreciated!
- Member since 2023 · 7 posts · 3 votes2y
Quote from @Ryan Billups:
Hey Blake, I would love to hear an update on your STR experience in Angel Fire? I own an STR in the Smokies and have been researching the Angel Fire area for our next property. Any insight would be greatly appreciated!
Hi Ryan! Things are going well overall. Still ironing out a few kinks, but so far it's mostly cash-flowing at the break even point. At the very minimum it's covering the monthly note, which is at a pretty atrocious interest rate, so I'm hopeful for rates to keep trending downward to help increase cash flow. The majority of our rentals so far are in the December-January months, and Spring Break is also starting to fill up.
Winter is definitely the biggest season for STR in Angel Fire. Summer has mountain bikers, so if you get a condo near the lift you'll get some solid summer traffic I assume. We're about 10 minutes from the lift and didn't start renting until fall, so not sure how it'll do with the summer traffic yet.
There are a few reputable property management companies around. It's a small community though, so it's important to find someone local who can be on call for you, ensure same-day cleanings when needed, etc. I've had a couple of minor things come up where I needed a local person to help out since I'm 4 hours away.
I take the family down frequently, so we are getting a lot of use out of it when not rented. It's an amazing valley with fishing, biking, skiing and hiking. The current goal is to break even and enjoy the property for personal use as much as possible. Hopefully the home will appreciate, and if cash flow is positive then that's a bonus! It's just that the busy months have to carry the slow months, so if you have a sizeable mortgage with a higher rate it hurts the ability to go positive.
I'm sure things will vary depending on type of home (condo, SFR, etc.) and location (proximity to the slopes is big). We have a 4-3 home (2,500 sq. ft.) on some land with great views of the entire valley. It's nothing fancy, but the land and views definitely help sell it. We are allowing guests to bring dogs because it should bring in more rentals (they pay a pet fee). We are newer and have the house at a pretty cheap rate considering it can sleep up to 15 people comfortably.
If I missed anything, let me know!
- 2yCollin HaysBusiness MemberProperty Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
Quote from @Blake Paschal:
Quote from @Ryan Billups:
Hey Blake, I would love to hear an update on your STR experience in Angel Fire? I own an STR in the Smokies and have been researching the Angel Fire area for our next property. Any insight would be greatly appreciated!
Hi Ryan! Things are going well overall. Still ironing out a few kinks, but so far it's mostly cash-flowing at the break even point. At the very minimum it's covering the monthly note, which is at a pretty atrocious interest rate, so I'm hopeful for rates to keep trending downward to help increase cash flow. The majority of our rentals so far are in the December-January months, and Spring Break is also starting to fill up.
Winter is definitely the biggest season for STR in Angel Fire. Summer has mountain bikers, so if you get a condo near the lift you'll get some solid summer traffic I assume. We're about 10 minutes from the lift and didn't start renting until fall, so not sure how it'll do with the summer traffic yet.
There are a few reputable property management companies around. It's a small community though, so it's important to find someone local who can be on call for you, ensure same-day cleanings when needed, etc. I've had a couple of minor things come up where I needed a local person to help out since I'm 4 hours away.
I take the family down frequently, so we are getting a lot of use out of it when not rented. It's an amazing valley with fishing, biking, skiing and hiking. The current goal is to break even and enjoy the property for personal use as much as possible. Hopefully the home will appreciate, and if cash flow is positive then that's a bonus! It's just that the busy months have to carry the slow months, so if you have a sizeable mortgage with a higher rate it hurts the ability to go positive.
I'm sure things will vary depending on type of home (condo, SFR, etc.) and location (proximity to the slopes is big). We have a 4-3 home (2,500 sq. ft.) on some land with great views of the entire valley. It's nothing fancy, but the land and views definitely help sell it. We are allowing guests to bring dogs because it should bring in more rentals (they pay a pet fee). We are newer and have the house at a pretty cheap rate considering it can sleep up to 15 people comfortably.
If I missed anything, let me know!
It sure sounds like you are on the right track! My son and his friends were going to ski in AF this week, but apparently there's not a lot of snow so far this winter. Aside from Taos, Northern NM can be hit or miss on the snow.
- Rockwall, TX · Member since 2017 · 11 posts · 2 votes2y
Quote from @Blake Paschal:
Quote from @Ryan Billups:
Hey Blake, I would love to hear an update on your STR experience in Angel Fire? I own an STR in the Smokies and have been researching the Angel Fire area for our next property. Any insight would be greatly appreciated!
Hi Ryan! Things are going well overall. Still ironing out a few kinks, but so far it's mostly cash-flowing at the break even point. At the very minimum it's covering the monthly note, which is at a pretty atrocious interest rate, so I'm hopeful for rates to keep trending downward to help increase cash flow. The majority of our rentals so far are in the December-January months, and Spring Break is also starting to fill up.
Winter is definitely the biggest season for STR in Angel Fire. Summer has mountain bikers, so if you get a condo near the lift you'll get some solid summer traffic I assume. We're about 10 minutes from the lift and didn't start renting until fall, so not sure how it'll do with the summer traffic yet.
There are a few reputable property management companies around. It's a small community though, so it's important to find someone local who can be on call for you, ensure same-day cleanings when needed, etc. I've had a couple of minor things come up where I needed a local person to help out since I'm 4 hours away.
I take the family down frequently, so we are getting a lot of use out of it when not rented. It's an amazing valley with fishing, biking, skiing and hiking. The current goal is to break even and enjoy the property for personal use as much as possible. Hopefully the home will appreciate, and if cash flow is positive then that's a bonus! It's just that the busy months have to carry the slow months, so if you have a sizeable mortgage with a higher rate it hurts the ability to go positive.
I'm sure things will vary depending on type of home (condo, SFR, etc.) and location (proximity to the slopes is big). We have a 4-3 home (2,500 sq. ft.) on some land with great views of the entire valley. It's nothing fancy, but the land and views definitely help sell it. We are allowing guests to bring dogs because it should bring in more rentals (they pay a pet fee). We are newer and have the house at a pretty cheap rate considering it can sleep up to 15 people comfortably.
If I missed anything, let me know!
Hey Blake, thanks for all the helpful info!
Available vendors definitely seems to be a little bit of a hurdle. I self manage from Texas for our Smokies property, but the entire area is built around STR's, with plenty of vendors readily available. Do you find it difficult to source quality STR knowledgeable realtors, contractors, cleaners, photographers, handymen, etc? or is that all something your Property Manager would handle?
If you don't mind sharing, I would love to see your listing!
Thanks again for all the insight and congrats on the property, it sounds like you're killing it!
Ryan
- Investor · NM · Member since 2020 · 10 posts · 12 votes2y
Hey everyone, I thought I’d chime in here since I have a bit of first hand knowledge. I have 2 airbnbs in Taos and finding reliable workers is NEARLY impossible. I lived in Colorado when I bought the property (2 houses on one property) and would regularly have to drive 5 hours at the drop off a hat because cleaners bailed, couldn’t get but back up cleaner to do it, something went wrong and no handyman available for 2 weeks etc. eventually I moved to New Mexico because it was not possible to self manage from a distance. Additionally the few property management companies in the area charge 30% so I would have ended up making about the same in an ltr as an str if I had gone with a property management company.
northern New Mexico as a whole is experiencing a HUGE growth for the lack of resources and tradespeople. Now that I live here and completely self manage, my properties do well (grossing between 5-8k every month and netting 3-6k and that’s both properties combined) I think if you want to own a vacation home in Northern New Mexico and have a property management company take care of it just know, 1) it will not cash flow but that’s ok if you want it more for personal use and an appreciating asset 2) the property management company won’t do a great job because they also have just as hard of a time finding reliable workersIf I was going to give advice on how to cash flow in this market, I would really only go for high end properties in arroyo Seco or TSV that can sleep 10+ and fetch 500+ a night. I think these properties are actually a bit easier because you can buy something in the 1.2 range that will meet this criteria, whereas something in the 600 range (which is average for the area) will probably only fetch around 180 a night and be in a much less desirable location so it won’t be booked as much.
- Member since 2023 · 7 posts · 3 votes2y
Quote from @Ryan Billups:
Available vendors definitely seems to be a little bit of a hurdle. I self manage from Texas for our Smokies property, but the entire area is built around STR's, with plenty of vendors readily available. Do you find it difficult to source quality STR knowledgeable realtors, contractors, cleaners, photographers, handymen, etc? or is that all something your Property Manager would handle?
If you don't mind sharing, I would love to see your listing!
Thanks again for all the insight and congrats on the property, it sounds like you're killing it!
Ryan
Ryan,
Yes, overall there aren't a lot of options to choose from, but there are options. It's a small village so making connections helps a lot. There is an online group for the village that is very helpful for quick answers, recommendations, reviews on services, etc. There are some good local realtors and contractors depending on what you need done and when.
We use a local property manager to help be the "boots on the ground" and make sure cleanings are handled, the road/driveway gets plowed, and any urgent matters are tended to quickly. That's been crucial - he's reliable, responsive, and I'm sure he has many local connections to utilize. I can certainly refer him if needed!
Here's the link: https://www.airbnb.com/rooms/949204244568278040?adults=11&am...
- 2yLeslie VillarealBusiness MemberReal Estate Broker · Albuquerque, NM · Member since 2021 · 67 posts · 32 votes
Quote from @Ryan Billups:
Hey Blake, I would love to hear an update on your STR experience in Angel Fire? I own an STR in the Smokies and have been researching the Angel Fire area for our next property. Any insight would be greatly appreciated!
Ryan (or anyone else whom might be interested) I have a fantastic agent contact up there if you are in need. She owns a few STR's in the area herself and her team has helped several of my clients secure great places recently. Please reach out and I can put you in touch with her!
The VillaRealty Group- Leslie Villareal545 Reviews - Rockwall, TX · Member since 2017 · 11 posts · 2 votes2yEmilie, I really appreciate your insight! Now that you live there do you handle the cleaning and maintenance yourself? or are you saying its easier to keep a pulse on the quality of your teams work when you live in town?
Quote from @Emilie Adamovic:
Hey everyone, I thought I’d chime in here since I have a bit of first hand knowledge. I have 2 airbnbs in Taos and finding reliable workers is NEARLY impossible. I lived in Colorado when I bought the property (2 houses on one property) and would regularly have to drive 5 hours at the drop off a hat because cleaners bailed, couldn’t get but back up cleaner to do it, something went wrong and no handyman available for 2 weeks etc. eventually I moved to New Mexico because it was not possible to self manage from a distance. Additionally the few property management companies in the area charge 30% so I would have ended up making about the same in an ltr as an str if I had gone with a property management company.
northern New Mexico as a whole is experiencing a HUGE growth for the lack of resources and tradespeople. Now that I live here and completely self manage, my properties do well (grossing between 5-8k every month and netting 3-6k and that’s both properties combined) I think if you want to own a vacation home in Northern New Mexico and have a property management company take care of it just know, 1) it will not cash flow but that’s ok if you want it more for personal use and an appreciating asset 2) the property management company won’t do a great job because they also have just as hard of a time finding reliable workersIf I was going to give advice on how to cash flow in this market, I would really only go for high end properties in arroyo Seco or TSV that can sleep 10+ and fetch 500+ a night. I think these properties are actually a bit easier because you can buy something in the 1.2 range that will meet this criteria, whereas something in the 600 range (which is average for the area) will probably only fetch around 180 a night and be in a much less desirable location so it won’t be booked as much.
I have been looking into Arroyo Seco and El Prado, but I keep coming back to Angel Fire. Do you have any thoughts on the performance and occupancy of Taos side vs Angel Fire?
Thank again! - Rockwall, TX · Member since 2017 · 11 posts · 2 votes2y
Quote from @Leslie Villareal:
Quote from @Ryan Billups:
Hey Blake, I would love to hear an update on your STR experience in Angel Fire? I own an STR in the Smokies and have been researching the Angel Fire area for our next property. Any insight would be greatly appreciated!
Ryan (or anyone else whom might be interested) I have a fantastic agent contact up there if you are in need. She owns a few STR's in the area herself and her team has helped several of my clients secure great places recently. Please reach out and I can put you in touch with her!
Hi Leslie, that would be super helpful! From my limited searches, there doesn't seem to be a whole lot of STR investor/agents in the area like I have found in other vacation markets.
Thank you!
- 2yLeslie VillarealBusiness MemberReal Estate Broker · Albuquerque, NM · Member since 2021 · 67 posts · 32 votes
Quote from @Ryan Billups:
Quote from @Leslie Villareal:
Quote from @Ryan Billups:
Hey Blake, I would love to hear an update on your STR experience in Angel Fire? I own an STR in the Smokies and have been researching the Angel Fire area for our next property. Any insight would be greatly appreciated!
Ryan (or anyone else whom might be interested) I have a fantastic agent contact up there if you are in need. She owns a few STR's in the area herself and her team has helped several of my clients secure great places recently. Please reach out and I can put you in touch with her!
Hi Leslie, that would be super helpful! From my limited searches, there doesn't seem to be a whole lot of STR investor/agents in the area like I have found in other vacation markets.
Thank you!
Of course- I'll send you a PM now
The VillaRealty Group- Leslie Villareal545 Reviews - Investor · NM · Member since 2020 · 10 posts · 12 votes2y
Quote from @Ryan Billups:
Emilie, I really appreciate your insight! Now that you live there do you handle the cleaning and maintenance yourself? or are you saying its easier to keep a pulse on the quality of your teams work when you live in town?
I have been looking into Arroyo Seco and El Prado, but I keep coming back to Angel Fire. Do you have any thoughts on the performance and occupancy of Taos side vs Angel Fire?
Thank again!Hey Ryan,
Yes I do all the management and cleanings myself, which is truly the only way I am able to cash-flow as well as I am. That being said it is almost a full-time job and I don't know if I would recommend it to others who have options to make more money with other full time jobs. From airdna you'll see that occupancy in much better in Taos than Angel Fire because Taos is less seasonal. There are always things happening year long in Taos and really the only slow months are January and April. That being said the nightly price range in Taos is all over the place which is why I will come back to the point of a more luxury accommodation in arroyo seco you will get the best of both world of the high nightly price and the year round occupancy.
I am not as familiar with Angel Fire's market. I have personal opinions as why I think Taos Ski Valley/Arroyo Seco is a great investment from an appreciation standpoint. (Feel free to private message me if you'd like to know more about that) One thing I will say though, I do not think Angel Fire is as versatile or, frankly, as beautiful as Taos/Taos Ski Valley (just a personal opinion). Yet the market remains extremely strong in Angel Fire. Every time I check the MLS and see what houses are selling for in Angel Fire, I am shocked.
I'd be happy to set up a call if you are interested to know more about my opinions of the area and if you are potentially interested in considering some properties. Feel free to message me! - Rockwall, TX · Member since 2017 · 11 posts · 2 votes2yThanks Emilie, I sent you a PM.
Quote from @Emilie Adamovic:
Quote from @Ryan Billups:
Emilie, I really appreciate your insight! Now that you live there do you handle the cleaning and maintenance yourself? or are you saying its easier to keep a pulse on the quality of your teams work when you live in town?
I have been looking into Arroyo Seco and El Prado, but I keep coming back to Angel Fire. Do you have any thoughts on the performance and occupancy of Taos side vs Angel Fire?
Thank again!Hey Ryan,
Yes I do all the management and cleanings myself, which is truly the only way I am able to cash-flow as well as I am. That being said it is almost a full-time job and I don't know if I would recommend it to others who have options to make more money with other full time jobs. From airdna you'll see that occupancy in much better in Taos than Angel Fire because Taos is less seasonal. There are always things happening year long in Taos and really the only slow months are January and April. That being said the nightly price range in Taos is all over the place which is why I will come back to the point of a more luxury accommodation in arroyo seco you will get the best of both world of the high nightly price and the year round occupancy.
I am not as familiar with Angel Fire's market. I have personal opinions as why I think Taos Ski Valley/Arroyo Seco is a great investment from an appreciation standpoint. (Feel free to private message me if you'd like to know more about that) One thing I will say though, I do not think Angel Fire is as versatile or, frankly, as beautiful as Taos/Taos Ski Valley (just a personal opinion). Yet the market remains extremely strong in Angel Fire. Every time I check the MLS and see what houses are selling for in Angel Fire, I am shocked.
I'd be happy to set up a call if you are interested to know more about my opinions of the area and if you are potentially interested in considering some properties. Feel free to message me! - 2yNick MehlPro MemberArchitect · Member since 2017 · 27 posts · 9 votes
Quote from @Emilie Adamovic:
Hey everyone, I thought I’d chime in here since I have a bit of first hand knowledge. I have 2 airbnbs in Taos and finding reliable workers is NEARLY impossible. I lived in Colorado when I bought the property (2 houses on one property) and would regularly have to drive 5 hours at the drop off a hat because cleaners bailed, couldn’t get but back up cleaner to do it, something went wrong and no handyman available for 2 weeks etc. eventually I moved to New Mexico because it was not possible to self manage from a distance. Additionally the few property management companies in the area charge 30% so I would have ended up making about the same in an ltr as an str if I had gone with a property management company.
northern New Mexico as a whole is experiencing a HUGE growth for the lack of resources and tradespeople. Now that I live here and completely self manage, my properties do well (grossing between 5-8k every month and netting 3-6k and that’s both properties combined) I think if you want to own a vacation home in Northern New Mexico and have a property management company take care of it just know, 1) it will not cash flow but that’s ok if you want it more for personal use and an appreciating asset 2) the property management company won’t do a great job because they also have just as hard of a time finding reliable workersIf I was going to give advice on how to cash flow in this market, I would really only go for high end properties in arroyo Seco or TSV that can sleep 10+ and fetch 500+ a night. I think these properties are actually a bit easier because you can buy something in the 1.2 range that will meet this criteria, whereas something in the 600 range (which is average for the area) will probably only fetch around 180 a night and be in a much less desirable location so it won’t be booked as much.
Emilie, your advice is so valuable to a person like me who has been listening in. I am in the market for a property in the Taos area to use as a STR. Been looking along Blueberry Hill and in El Prado and AF. Do you have any advice on what's a good area? I am an architect and I own a business that builds prefab small homes, so my intention is to build a small community (2-3 at first and then up to 10 units) of crafty little modern homes and rent them out. Cash flow is good but I'm really building to get some exposure for our product. And I love the area, of course.
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