Partner/STR in Summit County, CO

4 Replies

Hello friends! We have a STR in Gatlinburg, TN that is killing it but we'd love to have our next one in Colorado, preferably Summit County. We LOVE Summit Sky Ranch but the entry price point is $1.1m. We're considering having a partner join us in the investment. A few questions:

1) How do you typically structure partnerships on a STR property? Do both parties bring their own loan? Are both names on the mortgage/deed/etc.?

2)  Can anyone recommend an agent in Summit County that specializes in STRs/Investment properties?

3) Would love any general advice on the area/properies/STR's.

Thanks, all!

We currently operate the highest grossing STR in Park county immediately adjacent to Summit. We have been working to expand our portfolio in the area and may have some insight to share that may or may help. I will PM you.

Hey, @Amanda Carlo , Welcome to Colorado! Funny, as I have STRs in Pigeon Forge (and a few here in Colo.). I have friends in Summit County and we've talked real estate. One thing to check on CAREFULLY is the deed restrictions there. There are more restrictions there than any other place I've checked. I knew zoning and HOAs and town/city rules were things to look into, but deed restrictions was new. Ask lots of questions and lay out your plans to lenders as well as triple checking with locals who know that market really well. It's an awesome place! But there are more than one or two no-go zones. Best of luck! 

Originally posted by @Amanda Carlo :

@Erik Stenbakken This is awesome information and I'll be sure to check out the deed restrictions! Where are your STRs in CO? 

Grand Lake! It's *totally* different than Summit County. And honestly, that's why I like it.