Author: The Moens

Which Properties to Invest In?

Investment Property can work so many different ways for you. The key is to know what your needs are and the real estate market of course. Many people don’t take into account how they can enjoy their investment rental property. Life is short so Roger and I like to invest in real estate that we can use and enjoy. It is way more fun than the stock market! You can’t ski down the market!
Most people are excited about the prospect of investment property but nervous due to lack of knowledge about your options. I typically get two kinds of buyers here in Breckenridge. The first is strictly a numbers person and the numbers have to work in order for them to move forward which makes perfect sense. The other type of investment property buyer is weighing the needs of their family and friends. Investment property in Breckenridge can be both.
Breckenridge is a very emotional place and that is a big consideration when making a purchase for most people. An important factor is that it is a town with a tax base, schools, etc so it can render you return all year on a rental program. If you are in a pure ski resort they do not have provisions such as grocery stores, or as many off season activities. I am biased of course because we love Breckenridge. My goal was to live in a small town where I would know my neighbors and I could walk down Main Street and say hi to shop owners and neighbors. Also, for investment properties the more things you have to draw people in to come and stay in your rental property the higher the occupancy rate.

Other options coming in part 2 of Investment Properties

Homes for Sale in Breckenridge

Where are those Homes for sale in Breckenridge you ask? Well, they are still getting scooped up as we roll into 2021. If you have been searching on Zillow or other real estate sites you will see that we are still at a historic low. If you are wanting to make a purchase for a second home or investment property in Breckenridge I do have some tricks up my sleeve. One way is to become knowledgable about a specific subdivision or type of property you are looking for and I have been writing letters to owners stating that “I have a buyer that is willing to pay fair market value” and I have sold two homes in the last month this way. In this market it is good to get a jump on everybody else. So we have some alternatives so give me a call and we can discuss.

Multiple offers, part 2

So, last I blogged about multiple offers so here are a few more thoughts:

Money is not always the highest priority. I know it sounds strange but many times if you are negotiating a property and have competing offers one strategy is to find out what is of value to the seller. Here are a few things that could be offered to make your offer more desirable.
  • You can offer to let the current owners stay in the property until the end of the whatever season they are enjoying.
  • You can offer to let them keep that Christmas vacation they were planning to spend at their mountain place with the family
  • You can offer to pay for the closing cost from the title company.
  • Perhaps they are an older couple, you can offer to pay for the moving truck to help them move
  • You can waive any rights to objection on inspection items that might come up
  • You can extend closing date to the end of the ski season for example which allows the current seller to retain all of the rental income until closing.
These are just a few ideas.
It isn’t always about a lot of money but it is an act of good will that might just get you that property
How do you know what is more valuable? You just ask! It is that simple.