Buena Vista STR

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Ray WilliamsBusiness Member
Lender · Denver, CO · Member since 2017 · 148 posts · 68 votes
1mo

Hi Grace, I have done it in Clear Creek and Summit Counties. 

Buena Vista is a fun one to look at for an STR. On the licensing side, Chaffee County has historically capped short-term rental licenses in unincorporated areas and splits them into tiers for owner-occupied versus non-owner-occupied properties, with the non-owner-occupied tier being the harder one to get since that is where caps and waitlists tend to show up first (Clear Creek mirrors this). Rules like this shift year to year in Colorado mountain counties, so before you write an offer, call the Chaffee County Community Development or Planning department directly and ask about current license availability for the specific parcel, since it can vary by whether it is inside town limits or the unincorporated county.

On the financing side, how you plan to use the home changes your loan options quite a bit. If you will occupy it part of the year yourself, some lenders will treat it as a second home, which usually gets better pricing than a straight investment loan. If it is purely an investment, a DSCR (STR specific) loan is worth looking at since it qualifies off the property's projected rental income rather than your personal income, though ask upfront whether the lender will use actual short-term rental income data or fall back to long-term market rent, since that changes what you can qualify for. I have successfully brought two properties to the top 1% in their respective markets. If I can answer any questions let me know. Good luck with the search.

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  • Andrew SteffensBusiness Member
    Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
    1mo

    Hi Grace, since this is a nationwide forum I recommend you to ask in local host Facebook groups, you should have better luck there!

    [email protected]813-563-0877
    Vacation Rentals of Florida53 Reviews
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  • Ray WilliamsBusiness Member
    Lender · Denver, CO · Member since 2017 · 148 posts · 68 votes
    1mo

    Hi Grace, I have done it in Clear Creek and Summit Counties. 

    Buena Vista is a fun one to look at for an STR. On the licensing side, Chaffee County has historically capped short-term rental licenses in unincorporated areas and splits them into tiers for owner-occupied versus non-owner-occupied properties, with the non-owner-occupied tier being the harder one to get since that is where caps and waitlists tend to show up first (Clear Creek mirrors this). Rules like this shift year to year in Colorado mountain counties, so before you write an offer, call the Chaffee County Community Development or Planning department directly and ask about current license availability for the specific parcel, since it can vary by whether it is inside town limits or the unincorporated county.

    On the financing side, how you plan to use the home changes your loan options quite a bit. If you will occupy it part of the year yourself, some lenders will treat it as a second home, which usually gets better pricing than a straight investment loan. If it is purely an investment, a DSCR (STR specific) loan is worth looking at since it qualifies off the property's projected rental income rather than your personal income, though ask upfront whether the lender will use actual short-term rental income data or fall back to long-term market rent, since that changes what you can qualify for. I have successfully brought two properties to the top 1% in their respective markets. If I can answer any questions let me know. Good luck with the search.

    1Reply
  • Jeff Langley
    Member since 2021 · 167 posts · 141 votes
    1mo

    Love BV and its constantly growing but last i knew, the city paused all STR permits and the county has a limit, plus a septic restriction. Colorado has been known to issue permits, then take them away once regulations change or they feel the need to. Colorado=California.

    Personally, I’d avoid but that’s me and I live here. 

    0Reply
  • Grace KimPro Member
    OP
    Member since 2024 · 2 posts · 1 vote
    1mo

    Thank you!!!

    0Reply
  • Hayden GrayPro Member
    Lender · Colorado / New Mexico · Member since 2024 · 26 posts · 6 votes
    2w

    Buena Vista is a great area! Did you end up finding a good property?

    [email protected]505-482-0999
    0Reply
  • Matthew Tregoning
    Real Estate Consultant · Melbourne, FL · Member since 2019 · 185 posts · 106 votes
    2w

    I'd hold off on furniture and projected nightly rates until somebody at the county confirms that exact address can get licensed. Being close to a successful Airbnb doesn't tell you whether yours can operate.

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