Greetings from Philly! My husband and I are looking to buy a vacation rental property near a ski resort in VT and banking on STRs in summers, falls, and winters (as well as taking the occasional family trip there ourselves). I've read that the Okemo/Ludlow area may be best for producing cash flow through STR. I would love to hear your other ideas if you have any. I prefer SFHs but would consider a condo if the HOA is managed well. Thank you!
@Siobhan Cooney I am not familiar with Vermont specifically but manage a bunch of STRs in a ski community. I would just encourage you to price out snow removal for a single family home vs HOA dues for a condo. We own both here and it is soooooo much cheaper in my area to pay HOA dues than it it is try to find decent snow removal for a single family home. Good luck!
Thanks for this tip, Shelby! Much appreciated.
Okemo is a great four season resort area. I grew up there and still live nearby. The skiing is great during the winter. Golf and beautiful lakes and hiking during the summer. A nice village with lots of restaurants. I think it would be a great place to invest in short term rentals. Vail Resorts recently bought the ski resort which seems to be bringing a lot of new people to the area.
@Michael Foster -- thank you, good to know. Are you invested in VT, or are you working all out of state rentals? I need a good buyer's agent who can help me look. The one I've spoken to so far wasn't completely on the ball in terms of understanding investments.
Hi Siobhan, I have two, three-unit properties in Bellows Falls, Vt about 40 minutes from Okemo/Ludlow.
I have not used her real estate services, but I know her and she is a long-time realtor in the Ludlow area and does alot of resort properties. If I were shopping for a property in that area I would probably try Teresa Dinapoli.
Thanks for the referral, @Michael Foster !