Colorado Springs, CO · Member since 2015 · 17 posts · 1 vote
My husband rents a room in a ski condo each season which gives him weekend access the entire season. We are considering doing something similar ourselves with buying a second home in the mountains and renting our rooms during ski season and the entire home as a an airbnb during the off-season. Does anyone have advice on where to start? Anyone currently doing something similar?
Real Estate Agent · Post Falls, ID · Member since 2016 · 1k+ posts · 1k+ votes
9y
@Kim Rose - My friend and I are actually thinking about doing something similar. Though it's just talk, nothing serious yet.
Airbnb is extremely lucrative. I have been renting a bedroom out in my personal residence for almost 4 months now and it's been great!
Assuming that you will take a loan out for this purchase, my recommendation would be to talk to 4-5 lenders and get pre-qualified. That way, you can figure out what you can afford.
Then you find an agent who specializes in whichever mountain town you're looking in. One that works with investors is a plus.
Also, I would recommend going to biggerpockets.com/meet and find members in whichever community you're looking in. Talk to them and see what they are doing/how they are doing it.
Rental Property Investor · Littleton, CO · Member since 2015 · 252 posts · 164 votes
9y
I now have 2 ski rentals in Grand County. I rent them all year, mostly via VRBO and a bit through AirBNB. I will not rent long term, for the ski season. This is the peak season for ski rentals, obviously. Long term rentals means not as much revenue. This is where you get into the black for the year. Not to mention, I find that longer term renters become much more comfortable and don't always treat the property well, which means more handyman and touch up expenses.
My advice? Stick to short term rentals all year round, and if/when you want to use it just block the dates out ahead of time.