Short Term Rental Condo in Waterville Valley, NH

Real Estate Deal Analysis & Advice
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Short Term Rental Condo in Waterville Valley, NH

Frank Ducharme
Tewksbury, MA · Member since 2021 · 2 posts · 0 votes

Investment Info:

Condo buy & hold investment in Waterville Valley.

Condo - Short Term Rental
2 Bedroom, 1.5 Bath, 815 sqft.

https://www.itrip.net/waterville-valley-vacation-rental/the-danbury

What made you interested in investing in this type of deal?

I liked the cash flow potential of a short term rental, combined with the aspect I could also use it as a vacation spot for my own family. The lower price point/barrier to entry also made it appealing as a first investment property.

How did you find this deal and how did you negotiate it?

Started telling everyone I knew I wanted to buy a vacation condo near a ski mountain in NH. Soon after, friends of ours told us they were going to put their place in Waterville Valley on the market. We agreed on a private sale.

How did you finance this deal?

Conventional 30 year loan, used a HELOC for the down payment.

Lessons learned? Challenges?

Condos have wildly different bylaws and it is important to research what is in them before you pursue one an investment property. Not just fees. Lot's of associations have restrictions on rentals which would severely limit your earning potential/ability to rent at all.

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  • Anthony DalPra
    Homeowner · Southern New Hampshire · Member since 2021 · 11 posts · 2 votes
    5y

    Hi Frank,

    I am looking into the Bartlett/ Lincoln area for a STR. Do you mind telling me how you guys have been doing? The place looks great! I would love to get my family into something similar. Could you tell me how your doing in regards to occupancy and avg. rent on a nightly basis?

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  • Dmitriy Fomichenko
    Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    5y

    Nice @Frank Ducharme ! 

    0Reply
  • Frank Ducharme
    OP
    Tewksbury, MA · Member since 2021 · 2 posts · 0 votes
    5y

    @Anthony DalPra

    We’re doing great with rentals. Price per night varies on the month but I’d say weekdays are between 100-150 a night and weekends are 220-250 a night. We even had somebody rent out the entire winter Dec-March at 4K a month, which is probably selling it a little short but not having the turnover is good for peace of mind.


    I think anywhere in that area is great for short term rentals. I have a friend who owns a place in Bartlett and does well. The market is crazy though. I’ve made, what I thought to be, competitive offers on 4 other places which were not accepted. Every property is getting a ton of offers and going way over asking. Every place I’ve offered on has had multiple cash offers. 

    I highly recommend a STR in the area though. Good luck.

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