All Forum Posts by: Travis Sperr

@Kevin Settle I don't have the crystal ball but can rely on accurate data to make investment or home buying decisions. Spend some time on the information @Bill S. has provided.

Good Luck!

@Bill S. can you share a link to your post showing the world that the CO market is not bubble - but real supply and demand economics?

@Kevin Settle You will find there are no indications of a bubble with the proper information.

Cash on hand is way more important than credit.

I have a few contacts - send me a note - my posts get deleted by the moderator when I share contact information on the forums. 

Send me a note - happy to share. 

@Bill S. I agree Frisco is great.

@Will R. - sharing numbers on the deals would offer zero value to you for all of the reasons Bill mentioned. They have been massaging relationships there for years - the mountain folk do not like us city slickers trouncing around on their turf- now that the market is warming up it there are definite barriers for entry. To your specific question about vacancies - just like any real estate investment - you may have more vacancies in Frisco - but your price point for entry is less so you likely see a similar return. The Mountain markets are really starting to heat up - a couple years ago condos in Eagle and areas surrounding Vail where cheap! 

The stand alone - like Crested Butte - still values there. Visiting last summer I was blown away at what you could get a 2bed 2 bath condo for, then I remembered that it took 4 hours to get there, in August. Again a softer market - lower rents, lower entry and one of the most beautiful places in the world. 

Back to your original post stating you may not even use it to ski - there are other mountain towns that are significantly less expensive if you are not into skiing - like Granby - when compared to Summit County some of units are almost free (less than $100k last I looked).

I have funded a couple of new construction houses in Breckenridge for clients that are keeping as vacation rentals - I would focus less on the ski in-out - because a single family is likely too expense in that space to do well with. What you may not be aware of is the mountain towns have fantastic bus systems - being on the bus line is almost as good as ski in-out. Also - not on a ski resort - but Frisco is still a little under valued to me - there is a lot of investment happening there - restaurants, Whole Foods, etc - it is a short drive to many resorts and a bus ride into Breckenridge.

Same county or general area in reference to the title company. You might try some title companies in Colorado Springs - like Empire Title. Theoretically you should be able to use any title company but often times local to the property can produce better results. 

@Eddie Memphis then you likely don't have a deal with them and need to explore buying at the auction. Only so much you can do while they own it. If you want the property just follow it to the sale.  Being that it is a little more rural maybe the lender is local? If so see if you like can buy the note and foreclose on the property. 

if you are going to acquire before the foreclosure sale you are going to have to figure out a deal the current owners will take. If you are going to offer less than the owed amount you will need to negotiate with the owners and the bank. If you wait for the auction you will have to hope the property goes to auction at the amount the current owners owe plus any fees assuming the bank doesn't just take it back and go to market. 

A lot of moving parts - doesn't mean it isn't possible, just means there is some work to do. If  I had your shoes on I might look to see what cabins are selling for that are actually complete rather than buying this one and having to compete the repairs. If you have the cash you can approach from either angle. 

Good luck!